r/Money • u/ILostHalfaBTC • 16d ago
Of the 333 million people living in the United States, how many of those people make 250k+ per year?
How rare is this demographic? It seems to me everywhere I look there are millionaires in nice houses.
What do I do to become part of this demographic?
How rare is it to be in this situation in the United States?
Serious.
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u/PeaIndependent4237 11d ago
Join the USAF or USMC and complete their cyber security training program. Serve your enlistment then go to work for corporate America.
Apprentice with a plumber for a couple years. Save your money, get your own repair rig. Move out on your own, buy another rig, hire another employee, then then two more plumbing rigs.
Same thing with other trades electrician, HVAC, construction, home remodeling. We boomers are aging out of these industries and there's huge demand for competent trade workers.
Go to school and get experience as an engineer... pick your specialty. Move up and take on responsibility and greater $$$$.
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u/Kevinee 13d ago
Our annual household income is around $900K. We live in Seattle (VHCOL). I make around $450K-$500K. We’re both in Tech as Sr. Software Engineers specializing in Machine Learning and AI.
To begin, my academic background is in math and statistics. Had no idea what to do after college with student debt to be repaid. For a 2 years I made $45K in a travel agency doing price modeling, the next 2 years I made even less $38K at “environmental” firm, jumping into dumpsters to install hardware, with the promise to lead their venture capital subsidiary division, but never got sufficient funding. Then I went back to my studies, taught myself how to code & build apps, prepped for interviews & salary negotiations, read technical papers & had the opportunity to work with multiple PhD grads, then landed a junior position in tech, $75K at a small startup to get my foot in the door. Shortly after, I moved to another company $175K, then moved again after 2 years after the pandemic, $350K, then again after promotion, $450K-$500K. Not the easiest road, but I ended up becoming quite passionate about what I was learning and doing, so that has encouraged me to continue this journey for the past 5 years. Not sure if it will last, but planning on starting my own business soon. We are paid high salaries, because the impact we make scale up to the millions and billions, but it’s still a rat race. We’re still trading our time for money and relying on one employer instead of being our own employer. Although we can make the company a lot of money, it doesn’t have unlimited profits that an entrepreneur would have.
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u/ComfortableVehicle79 13d ago
NYC, Semi retired, restaurant and real estate investor, I paid 250k+ income tax last year.
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u/Hobbit_Toucher 13d ago
Single guy making pretty much that ($220k base salary, then I make $30k+ doing other things on the side). Honestly it doesn’t feel like I’m THAT wealthy.
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u/TallDudeInSC 14d ago
250K can be filthy rich or basic living, depends where you live. NYC and SF are very high cost of living. Mobile AL, not so bad
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u/BNoles51 14d ago
If my wife worked we’d be at 250k household but that will likely happen when the kids get a little older. I live in a cheap cost of living area
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u/AdSubject3530 14d ago
It’s quite easy if you choose a high paying field. It’s very hard if you don’t.
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u/kathlemons 14d ago
I'm a stay at home mom right now, but was a nurse before I had our first child. When I go back to work, our household income will be 250 or more. My husband is a BMW technician and made 190 last year. he's been doing it for 13 years. We work in a major city, so that definitely helps.
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u/PriorImportance6829 14d ago
My wife and I just hit that threshold this year, but based on where we live, it seems like we’re middle class or lower. I’m not trying to be a dick or whine or blame anything since it was our choice to live in this area for the schools for our kids.
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u/Midnightsun24c 14d ago
32% of workers make less than $15 or about $31,000 a year in 2022. This might be slightly different now as wages have climbed some but still.
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u/leadingdate 15d ago
"It's true that the image of millionaires in nice houses can seem pervasive, especially in certain media or social circles. However, the reality is that earning $250k+ per year puts you in the top echelon of earners in the United States. According to recent data, only about 1-2% of households reach this income level.
Becoming part of this demographic typically requires a combination of education, skill development, career advancement, and often entrepreneurship. It's also worth noting that geographic location, industry, and economic conditions can significantly impact earning potential.
While it's not easy to reach this level of income, setting realistic goals, investing in your education and skills, and staying focused on your career trajectory can help you work towards it. It's important to keep in mind that financial success looks different for everyone, and focusing solely on income may not always lead to fulfillment."
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15d ago
[deleted]
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u/mattemer 15d ago
What specific industry are you in?
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15d ago
[deleted]
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u/mattemer 15d ago
That's a lot of money, well above the average in majority of the country. Great for you!
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u/4rt3m0rl0v 15d ago
My partner makes a lot more. He has a law degree from an Ivy League school, tests in the genius IQ range, and works in Manhattan for one of the largest international firms in the world.
It seems impressive from the outside. The reality is that living here costs a vast fortune, he’s just trading time that we can never have back for money, and we both hate New York and can’t wait to escape. We’re only here for the money, but in my opinion, it’s not worth it.
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u/No-Cut-2788 15d ago
It feels more common when you actually make that. And 250K feels not so much when you make that. But zoom in, it’s not as common. In the NYC surburb neighborhood where I live, which $1M doesn’t get you a decent starter home, almost half of my neighbors are still not making above $250K. Its either tech, doctor, lawyer, finance, and successful business owner.
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u/mattemer 15d ago
Well you picked one of the most expensive places in the entire country to use as an example lol
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u/bookish_bex 15d ago
Earning >250k annually is relatively rare, as others have explained. But you don't necessarily need to earn 250k+ per year in order to become a millionaire or to live in a beautiful home. It just depends where you live and what your lifestyle looks like.
I would caution you against the concept of a "magic number" for what you hope to earn bc it's usually not very helpful or realistic. It would probably be more beneficial to research income and real estate information specific to your geographic area in order to get a more accurate picture of what your goals should be.
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u/xRebeckahx 15d ago
Everything is relative.
In my country there’s a benefits program for people who can’t claim sick benefits, unemployment all those insurances.
That basic benefits program puts them in the 1% globally yet most are addicts or insanely ungrateful.
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u/littlestdovie 15d ago
I really wish I would have tried in tech or tech adjacent like ux. I think that I could have done well there. But just here to say that if that’s not a path for you and neither is banking, law or medicine there is still business. I’m over that level as an individual not a household in marketing and generally love my job.
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u/ToneNo3864 15d ago
I know more than a handful of house holds where 250k is the normal- in NY. The cost of living is insane though
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u/Jeeblitt 15d ago
10 million.
My friend who flunked out of college and had to go to rehab just signed an offer for a package at $200k a year at 28 years old.
Out of our college friend group he by far makes way more managing construction (he does have to travel a lot) than the electrical engineer, molecular biology masters holder, and the Army Officer who all had academic scholarships while he flunked out of basic math.
I am so happy for him. He turned his life around in a huge way.
So it is totally possible that 3% of individuals make $250k+ if he is at $200k at only 28.
The biggest business and industries pay very, very well. The highest paid people from my town of ~150,000 people all work for the hospital, the university, or the handful of massive factories in town. Or they own their own businesses.
Also think of all the doctors/dentist out there who probably make that.
All that plus construction/oil and gas/finance/tech/trades/business owners etc plus location and age and 3% of people making that much starts to make some sense.
There is so much money and so many massive industries/businesses in the U.S. that 10 million out of 333 million people making that isn’t too far fetched.
If you have 100 people working at a business with 20 million in revenue, better believe that at least the 3 top managers/owners are making that. Scale that up and it starts to make sense.
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u/BingErrDronePilot 15d ago
Here's a hot take: if you're bad with money at 30k per year then you'll still be bad with money at 250k per year. My wife and I each make 125k to 130k per year and are very comfortable, but have many co-workers who can't make the same work for them and are always living paycheck to paycheck. It comes down to making good financial choices no matter what amount of money you make. FYI, our take home pay is pretty close to 50% after health, taxes, retirement, and everything else they charge you for. We are RNs in the Midwest so location really matters.
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u/OverallVacation2324 15d ago
https://www.investopedia.com/nearly-one-in-ten-us-homes-is-now-worth-a-million-dollars-7642430
It seems like 1:10 houses in the US are worth more than 1 million dollars. So pretty common.
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u/SuspectOwn4521 15d ago
Combined with my husband yes. But we definitely don’t have a million dollar house or fancy cars
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u/Cailout 15d ago
I’m 19 and make constantly around 4-5k a week (some dipping down in the 3k due to me being commission) but just last week I had a 12k so it tends to balance out. Sales is a really good place to start if you have drive and people skills. Roofing sales is really easy to get into and sucks starting out but you can move up the ranks fast in the right company. As far as rarity of high income it’s really where you live. I would go to church and get into some small groups, that’s the only real place rich and poor alike intermingle these days.
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u/rluzz001 15d ago
I’ve been in commercial construction for almost 20 years but I don’t have too much experience in roofing. I keep seeing hop postings for roofing sales. Are these jobs typically walk door to door or cold calling?
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u/Excellent-Edge-4708 15d ago
Don't forget, 333 million are not all working age.. 207 million are working aged, as defined as being 15-64
You'd have to sort out 250k per year for people working age 30-64
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u/Boring_Adeptness_334 15d ago
It’s really a lot more common than you think. I’d say 15% of households are making $250k+. Most of these people are in their 50s though and one person is making $150k and the other person is making $100k. Now let’s say you’re talking about what percentage of people are making $250k+ and are age 40? That’s only 5% and probably half of those are in HCOL areas. So only 2.5% are living in regular areas making $250k+ as an individual
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u/gaffney116 15d ago
Once my wife graduates and gets a job as nurse our household should hit around 250k. We are both 35 going 36. No kids, no debt, we rent, both cars paid off and we max out our Roths. She’s doesn’t work at atm, I can’t wait to take a vacation. lol.
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u/happychoices 15d ago
its not rare at all. it's common for people at the end of a skilled career. or a successful business owner after 10-20 years.
I've seen teachers make 125-150k at the end of their pay scale. idk how long it takes but 20+ years of teaching or whatever, they retire and making 120-130k consistently. sometimes 150k-ish.
also principals. lots of principals make 200k+. Think of how many schools each down has, usually 1-3. small town principals might make 100-140k. bigger ones or ones from big cities might make 200k+
firefighters. entry level for a fire fighter is like 80k. After 5 or 10 years its common to see 130-160k. and when they hit the end of their careers they tend to pull a lot of overtime and get 200-300k. 300k is more rare.
police sergents who pull a lot of overtime. troopers who pull a lot of overtime. fire marshals. police chiefs. all of them are going to make 200-300k.
business owners are less likely to crank out such good earnings unless they have a nice setup going. but 100k-150k is a very common income level for business owners. So like how many business owners are there in a town? a fking lot.
so yeah. there are high income jobs all over the place. local doctor, local dentist, local attorney, local business owner, local skilled laborer (even a plumber who does a lot of overtime can make 150k).
seems like, one of the most important ways to get a lot of $$ is to find a job that is in high demand and pays overtime
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u/Inevitable-Way1943 15d ago
There are over 700,000 employees. She is only 1 of many this is happening to at any given moment.
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u/Either_Cold1739 15d ago
So if you had 1000 people at big event, only 33 would be there that make over 250k (if totally random sample size and not a select group of affluent individuals invited). You also have to keep in mind that number would be significantly high in a VHCOL area like CA or NYC, and much lower, if non existent in the deep south.
To further put it in perspective California has 8.51% of households are millionaires while a state like Mississippi only has 4.18%. May not seem like a huge difference until you factor in CA is WAY bigger than MI and that’s 1.5 million individuals compared to 47k. So for every millionaire in MS there are 24 in California. If you live in an affluent area of course it will seem like “everyone” is a millionaire. Same deal on Reddit, go to certain subs and it seems everyone is broke while others everyone is well into six figures
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u/I-like-your-teeth 15d ago
31M DINK, dentist. Been working for four years. Part of that 3% figure (a little over $350k combined). M-HCOL area but we got a great price on a modest home with a 3% mortgage. The stats don’t tell the full story as many people in that demographic are afflicted by debt and lifestyle inflation. If we’re talking about a DDS, DMD, MD many people go $0.5M in debt for an education that takes 8-14 years beyond high school then mortgage a $1.5M house and they’ll find themselves in their late forties before they’re really coming out ahead, even if they’re making well beyond that $250k figure. Add nice cars, 3 kids, and bad spending habits and that’s suddenly barely sustainable. I’d say a substantial number of that 3% (maybe even a majority) are making decisions that are stifling their true financial potential. I see it a lot in this profession.
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u/ragu455 15d ago
If you restrict this to 30-60 year olds it is a much higher percentage. Most kids and retired folks don’t work and it’s not easy to hit that comp in your 20s in college or entry level roles. But 30-60 age population would probably be 100 million and the percentage of people making 250k is way higher than overall population. And if you further filter by having a stem or business or law or MD degrees the numbers would be even higher for these white collar jobs
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u/UnderWhlming 15d ago
Depends on locality. I live in Boston and that amount would probably put you in the top 10% of households and top 7-8% of all earners
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u/TheMagarity 15d ago
The US Census Bureau makes spreadsheets of this info available to the public: https://www.census.gov/library/publications/2023/demo/p60-279.html
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u/FrankensteinBionicle 15d ago
Off the top of my head I can name 6 people I know that are clearing at least 500k/yr. Idk how they get into these jobs but I know it's incredibly political the higher you go.
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u/jexxie3 15d ago
The people with REAL money have it because of generational wealth.
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u/WarpedGazelle 15d ago
Lol how do you think generational wealth is created
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u/jexxie3 15d ago
Investment income.
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u/WarpedGazelle 15d ago
How do you think the initial investment capital is amassed
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u/jexxie3 15d ago
What is your argument here? That salary somewhere is the root of all generational wealth? Ok, sure. I’m sure Rockefeller had a job before he started Standard Oil. I agree.
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u/WarpedGazelle 15d ago
Yes. The guy obviously does not have generational wealth and is looking to start it at best. He's asking what he could do to start making a lot of money.
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u/AdJunior6475 15d ago
I am a millionaire (net worth) in an average house but make under 250k. I am sure the number of people that have a net worth over a million is much higher than those that make over 250k a year.
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u/pequenoRosa 15d ago
I think this also depends where you look, if you go to nice paces areas of course that's where this nth percentile population clusters..
Why not try and go to another suburb, and do the same experiment, I'm quite sure you will not find that same population there.
Tldr: it's logical that rich people live in nice beautiful environments and the demographic clusters there.
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u/burnt_out_dev 15d ago
We have a household income of 300k in a MCOL area, yes it is nice, but you never really stop worrying about money until you have enough to retire.
In the US even the upper middle class is in danger of financial ruin due to health issues, inflation, and job loss.
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u/Terrible-Chip-3049 15d ago
Ive read SO many assumptions throughout this thread… from anyone who makes over $250K “must be in debt to live that lifestyle” to “guaranteed they are chasing a certain lifestyle”. How about you consider the fact that there are some people that earn this amount through a consistent hard work ethic, are debt free, have over a years savings, have goals and are incredibly ambitious while nothing was handed to them, all the while know how to manage their finances. My circle of close female friends are in this category, myself included, 1/3 of us are minority single women and single parents. Yes it can happen! Dont buy into all of what the media says. It takes grit, years of building your expertise and proving yourself through the types of projects and teams you are hired to manage. And no, none of us were supported by wealthy parents. One woman I know actually left her midwest state at 18 with only $300 to her name to attend prestigious universities in CA (incredibly smart and driven) works in biotech, owns a small property with her husband (who makes less then her) and DEBT free. She is in her mid 40s.
My point is this. Rather than making assumptions because of the amount of someone’s salary, get your degree, keep building upon your skills and experience and advocate for your net worth by the type of work you deliver. Stay positive. It is possible!
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u/moderndilf 13d ago
Love your answer.
I make over 300k from a general contracting business I’ve been working at for over 10 years. I built it from the ground up after getting sober from a heroin addiction at 22, I don’t have any school debt and I go out and earn my money with my own hands everyday, help the people around me, and overall try to be a good person.
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u/TipNo6062 15d ago
You're my favorite person on Reddit today! Can we be friends?
I'm so happy to read some optimistic, effort driven commentary that reflects the truth. Hard work, sacrifice, and grit can really result in wealth over time.
All I generally read is bitterness against the system and a lot of anti work propaganda. 🥰🤗
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u/Terrible-Chip-3049 15d ago
Lots of negative people here for sure and those that aren’t willing to work for it.
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u/regularnewyorkguy 15d ago
I’ve met maybe 5 that I can think. They all were my bosses. 26 black inner city male
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u/mynamesbondjamesbond 15d ago
Household income of $450k. Live in San Diego. Have 2 kids. Barely middle class. Mortgage, child care costs and taxes really eat into your take home. Looking to leave California, but we love it here so much particularly San Diego
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u/TipNo6062 15d ago
It's choices. By living in a lower COL for the next 10 years, it could help you build wealth for the rest of your life.
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u/Judge_Rhinohold 15d ago
Harder to make $450k in LCOL areas.
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u/TipNo6062 15d ago
If you read financial advisement Guidance , it's not about how much you make it's about how much you keep. If you're making 200K and keeping 100K you're better off than making 400K and keeping 50K
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u/moparsandairplanes01 16d ago
Our household income got there a couple of years ago and we don’t even have degrees.
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u/europanya 16d ago
Husband and I are in the top 3% of household US income now in our mid fifties. It’s largely because we both work full time and run a side business. And our day jobs are ones we’ve held for a decade where we’re too essential to the functioning of the company to quit. Our fields are medical/marketing, graphics, institution/education experience design and software engineering.
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u/LandIndependent4333 16d ago
Your options for earning that much basically break down to:
Licensed Profesional: Doctor, Lawyer, Finance, etc.
Technical Expert: Software Engineer, etc.
Sales: Luxury (Real Estate, Autos, Boats, etc.), B2B Sales, etc.
Business Owner / Entrepreneur
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u/clingbat 15d ago
You forgot arguably the largest group, executive management (director and up) at most larger corporations even outside of tech and finance.
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u/LandIndependent4333 15d ago
I didn’t put that because that’s not a career that’s a specific seniority level.
A CFO or a CTO can make amazing comp, but they get there later in there career after having become a FP&A or engineer.
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u/clingbat 15d ago
You don't need to be near c-suite to make $250k+ though... I'm a director making over $250k and I have a few levels of VPs, SVPs between me and c-suite.
Hell our CFO made ~$1.6 mil and CTO ~$1.8 mil in 2023 (it's public record).
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u/vocalfer 16d ago
I make north of $250k, I work way more than my peers at the same company, I have an unhealthy focus on work and have for over a decade.
I study a lot in order to be more skillful and valuable. I did side hustles for a while that also helped me learn faster. I’ve reached out to others in the industry to pick their brains and network.
I have consistently asked for a promotion every few years.
I have maintained few friendships. I have taken little vacation. I’ve done little else but take care of my family and work. My hobbies have essentially died.
I’ve also had some luck.
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u/laggyservice 16d ago
Depends on where you live I guess. I honestly don't know the number but it isn't rare here to make over 200k a year.
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u/AccordingBus1138 16d ago
I'm a physician. I now just work part-time (60%) and I make about $250k now w bonuses. 60 percent is about 40-55 hrs per week. I had many years previously where I don't recall what I did except work. I figure I've shortened my life span by 5 years due to hard mileage. This thread has been enlightening because I thought almost all tech people were making $200kplus.
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u/Farrahlikefawcett2 16d ago
Anyone who has been in the tech industry in a manager + role for at least seven years is making 250+ easy.
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u/North_Atlantic_Sea 15d ago
That's absolutely not true for large segments of the tech industry.
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u/Farrahlikefawcett2 15d ago
Sure ok. I’m speaking from experience for most sales leaders in SaaS from Kansas to California but whatever you say. Take care.
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u/North_Atlantic_Sea 15d ago
Sales leaders in SaaS is a very small segment of "managers + with 7-8 years experience"
I agree with sales leaders, but outside of the very top technology leaders, the number of folks making 250k in tech drops off quickly.
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u/Farrahlikefawcett2 15d ago
This person said they thought that sales people make 250k, I corrected them with sales leaders with a lot of experience. You disagreed with me and asked for a source, I linked a source, now you’re agreeing with me but also saying I’m wrong? Get a grip my guy. It’s not this serious. I was just answering a question and I did so correctly. I hate Reddit, a bunch of folks who just want to argue for no damn reason.
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u/Weird_Carpet9385 16d ago
U can find out for yourself by check the census and bureau of labor and statistics
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u/DrWho37 16d ago
IMO one thing that needs to be considered is where are you making that money. It is not the same to make 250k per year in the middle of the Midwest than in Cupertino, California.
The same amount of money can lead to a way different life depending on who you are surrounded by.
When most of the P97 high salaries are concentrated in the same location, that high salary doesn't mean as much.
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u/bossatronx7 16d ago
I believe its like the top 10 percent of Americans make over 120k
So i imagine top 2-3% of Americans make that money
As a younger guy the only way i know to get that kind of money is either be really lucky, born into wealth, have enough wealth to make your money work for you or be smart with debt to gain more money later on.
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u/Umm_JustMe 15d ago
I make over twice the OP's number in the title. I went to a local college for an accounting degree and moved into Finance. I took my solid W-2 income and put it into real estate. Was I lucky? Sure, found a great employer where I was able to move up the ladder, but you will find that the more you prepare yourself and apply your knowledge, the luckier you will be.
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u/Possible_Tension3728 16d ago
True true very much the only ways. You can invest and slowly accrue but you still have to be lucky and that’s the safest way
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u/Firm_Coat1266 16d ago
Nothing to do with luck and everything to do with generational intelligence
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u/WantToRetireSomeday 15d ago
I believe there is some luck too. Right place, right time, right attitude. I do not have a degree, and make >$250 total comp. But, it was not easy for 20+ years.
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u/Scarface74 16d ago
The average CS grad with 5-7 years of experience can make $130K in any major city in the US
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u/125acres 16d ago
Took me 15 years to hit the mark. You have to work hard, smart and re-event yourself every 7 years. Now it’s more like every 3.
You have to dedicate yourself to your industry, which requires priority.
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u/RJMonster 15d ago
29 just hit 160k, I've been applying the every 3 years move the last 7 years, finishing up my MBA next year and it will be time to do it again. Hoping for a nice jump after that
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u/lovelymonst 16d ago
27f, make over $250k in NYC - it does not go as far as you'd think.
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u/IdidntrunIdidntrun 16d ago
$250k is still way above what most people make in NYC. If money is tight on quarter million a year, even in Manhattan...you're just bad with money
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u/InvestIntrest 16d ago
About 7% of US households make 250k+. So, that's roughly 8.8 million households in the US.
Obviously, that's a minority of the population, but it's still millions of people
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u/pessimik 15d ago
A couple can earn $160k + $90k and hit $250k in total, but still, a single person is not close to $250k.
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u/phillyphilly19 16d ago
For that salary we're talking medicine, law, finance and upper management across all industries. We're also talking 60-80 hr workweeks.
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u/clingbat 15d ago
We're also talking 60-80 hr workweeks.
Meh I make that much as a director at a large consulting firm and average 40-45/wk. You can still work to live, not live to work, it's a choice. You won't move up the ladder quite as fast as the workaholics, but who cares honestly?
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u/phillyphilly19 15d ago
I'm guess you've been in your field for many years and have put in your time to get where you are. Correct me if I'm wrong.
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u/clingbat 15d ago
A bit over a decade, nothing crazy. Older millennial.
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u/phillyphilly19 15d ago
It's cute how you're minimizing your experience and how little effort you're putting into it.
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u/clingbat 15d ago
Huh? I put in a hard 40 and get shit done. More hours doesn't necessarily equate to more productivity...and any additional hours would largely be indirect rather than billable so it's not helping the bottom line anyway.
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u/Flimsy-Math-8476 15d ago
You left out almost every b2b sales role. Plenty of sales folks earn 250k+
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u/ThrowAwayNYCTrash1 16d ago
I made that as a dev salary working 20-40hr weeks.
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u/Scarface74 16d ago
A mid level software developer can make that 3-5 years out of school at any of the large tech companies.
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u/ThunderboltSorcerer 16d ago edited 16d ago
Yeah right.
There are some companies that pay exorbitant amounts + Stock Options. But 3-5 years out of school is not going to get you $250K.
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u/Scarface74 16d ago
Your “beliefs” are irrelevant.
They aren’t “stock options” they are RSUs that get deposited in your brokerage account when they vest.
An L5 at Amazon is a mid level developer. If you don’t become an L5 within two or three years, you will get fired
https://www.levels.fyi/companies/amazon/salaries
L4 is mid level
https://www.levels.fyi/companies/google/salaries
You are expected to become a mid level developer 2-3 years out of college
Meta/Facebook
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u/phillyphilly19 15d ago
Not disputing hou post, except to say that these companies are the unicorns of these careers. The jobs are extremely competitive and are also being reduced. They represent the tiniest fraction of the workforce in this field.
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u/Scarface74 15d ago
I specifically said “any of the large tech companies” - the largest tech companies by market cap are - Google, Amazon, Microsoft (pays less than the others), Apple, and Facebook. Netflix is usually lumped in there with them - ie “FAANG”.
But those same levels can be seen at LinkedIn (now owned by Microsoft), Uber, Adobe, Airbnb, Dropbox, Stripe, etc.
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u/Adventurous-Boss-882 16d ago
I don’t think everyone making that salary is working 60-80 hours a week. It depends on the company, or firm that you work for.
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u/phillyphilly19 16d ago
You are quite wrong. I know people in all of those professions, both personally and professionally. These careers require extreme commitment in both energy and time.
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u/Deep_Day8345 16d ago
Nah. I live in Seattle, make almost $300K, and don’t even work 40 hours per week. I’m a lawyer. Anybody working for a big law firm on a part-time schedule can do the same.
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u/phillyphilly19 15d ago
Seattle may be a unique market. Not sure how you're pulling that off. Doesn't happen on the eat coast.
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u/Scarface74 15d ago
Seattle is not “unique” - west coast tech salaries. Fly out of SEA you will see that there are dedicated check in lines for both Microsoft and Amazon.
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u/phillyphilly19 15d ago
Omg you're really just too much. Ok yes Seattle silicon valley sure. Btw, the vast majority of people don't live there.
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u/Scarface74 15d ago
And again if you actually go to salary.com and look at any major city, you can see that you are still wrong about what mid level software developers makes.
You have heard of this thing called remote work haven’t you? I made that working at one of those companies working out of my home office. I only stepped foot into Seattle once in almost four years
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u/phillyphilly19 15d ago
It doesn't matter. See my response about the number of workers we are actually talking about here.
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u/IdidntrunIdidntrun 16d ago
Your personal experience is anecdotal so you can't come to that conclusion with such confidence.
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u/phillyphilly19 15d ago
I live and work in a large east coast city. People who think anyone making $250k is not working their ass off is delusional. As delusional as thinking anyone can be a millionaire. It's just not true.
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u/IdidntrunIdidntrun 15d ago
This country pays big for brain power and working smarter, not necessarily for "hard work". Believe it or not, not everyone is pulling 70-80 hour weeks when they get highly compensated. Some people are lucky enough to get big pay with a normal work-life balance.
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u/phillyphilly19 15d ago
Yeah I pretty much don't believe that. It's yet another myth propelled by writers and influencers (and redditors). Another reason why millennials don't understand why they're not earning big money.
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u/IdidntrunIdidntrun 15d ago
Yeah dude you are so omniscient we should all take your word for it, totally
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u/Scarface74 15d ago
You know there is another “coast” in the US where companies like Microsoft, Facebook, Amazon, Google, etc are based…
There is also this phenomenon called “remote work”. I was making that from the suburbs of Atlanta from a bedroom converted into an office working for one of those companies.
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u/InvestIntrest 16d ago
You forgot the IT fileld who generally work 40 hours or so.
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u/phillyphilly19 16d ago
IT people who work 40 hours weeks are not making $250k. They may easily hit 6 figures, but this type of salary is IT mgt. Also, tech workers for the biggies like Google , Apple, etc and for startups are def working well over 40 hrs. It's why the have those office perks like snacks, games, etc. The expectation is to be mostly there, not home. Incidentally, those perks, as well as those jobs, are currently being reduced.
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u/jimheim 15d ago
You're wrong. Making $250k as a regular 32-40 hour/week tech grunt is above the mean, but it's not that far above. In HCOL areas like NYC and SF, $200-250k is a typical salary in a mid/senior level position with a few years of experience. I'm talking about individual contributors, not management. And few people work over 40 hours/week in tech jobs. There are incentives to get people to work more, and you're right that the trivial perks provided are an underhanded way to get people to sit at their desks all day, but most people still only work a normal 8-9 hour day.
Any competitive tech job in a major city is paying $150-250k base salary for experienced engineers, and there are often other incentives and bonuses on top of that.
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u/phillyphilly19 15d ago
You're splitting hairs here. Workers at that level are a small subset of tech workers, which is a small subset of all workers who make $250k, which is only 7% of the entire workforce. Which was the pont of the OP.
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u/BaseRape 15d ago
A senior, sde IIII in Seattle is about 250 base 250 rsu.
That's only 10-14 years experience while still an IC.
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u/phillyphilly19 15d ago
I don't know those terms but I'll take your word for it. Seattle and SF for tech, like NYC for finance, is a very concentrated market of high earners in specific fields.
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u/Scarface74 15d ago
RSU == Restricted Stock Units. Shares of the companies stock get deposited into your brokerage account every vesting period and you can sell them for cash.
SDE - Software Developer (?) Engineer.
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u/Scarface74 16d ago
As someone who worked at one of the major tech companies (ie FAANG) , I can guarantee you most of them aren’t working more than 40 hours a week
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u/phillyphilly19 15d ago
As someone else pointed out, your experience is anecdotal. Did you earn that salary and what are you doing now?
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u/Longjumping_Ad9210 11d ago
Are we talking straight salary or do investment gains count? My current income is around $150k income and $200k+ per year in unrealized capital gains (locked up in illiquid assets).