how the heck do mid 20 year olds make 100k+?

[JS80]

I'd say top 3 "easiest" to $100k in your 20s is:
1) Sales
2) Software Engineer
3) Finance

I started off at $32k out of college in accounting and I'm on track to clear $200k this year as a director in finance for a tech co. Factors that allowed me to get where I am so quickly:
1) Be knowledgeable - know your shit and everyone else's shit, and specialize in something. Be the "expert" in that one topic.
2) Take risks - find the industry you think will be hot, find a company full of talent and just join
3) Attach yourself to other talent - support your boss so as he gets pulled up, he pulls you up with him
4) Networking, people skills
5) Don't burn bridges, never step over people

 

[thegimp03]

The CPA degree is what gets you that boost and a couple years exp. I have friends who worked at KPMG for just shy of $60k. Granted its KPMG, the bottom of the Big 4. I'll ask my PWC friend and I should run into one from EY tomorrow. They're fresh grads.

I can't seem to talk my wife into leaving the Big 4 yet. She just got promoted to manager and if she left now she'd make a decent chunk more than me in base salary. She told me that fresh grads are starting at $48k...lower than what we started at 5 years ago due to the economy.

 

[OCGuy]

My SO had her first 6-digit year at 23. She is still holding strong at 25.

We are in the same line of work, in the same office, but she has 2 years seniority on me. And frankly she is better at the job then me...so I am not quite there yet

 

[JS80]

I can't seem to talk my wife into leaving the Big 4 yet. She just got promoted to manager and if she left now she'd make a decent chunk more than me in base salary. She told me that fresh grads are starting at $48k...lower than what we started at 5 years ago due to the economy.

She's reaching the point of no return. Without private experience you are pretty worthless outside of being an auditor, i.e. I would never hire as a Director, VP, or CFO from someone straight out of public.

 

[edro]

I know a few people who make 100k+ in Ohio (midwest) at standard sales jobs.
They are for new age companies, selling software... and it is fairly cut throat.
If you don't meet your numbers for a few quarters, you are gone.

Things always even out.
If they make significantly more money now, there is much more risk.

 

[JS80]

The CPA degree is what gets you that boost and a couple years exp. I have friends who worked at KPMG for just shy of $60k. Granted its KPMG, the bottom of the Big 4. I'll ask my PWC friend and I should run into one from EY tomorrow. They're fresh grads.

I thought brand name firms (PWC EY) usually pay less. CPA allows you to be promoted to manager. CPA is generally pointless in corporate accounting but it's a "requirement" if you want to be a competitive candidate.

 

[PricklyPete]

Everyone is a hypocrite.

Agreed...just giving you a hard time. I'm as big a hypocrite as the next.

 

[thegimp03]

She's reaching the point of no return. Without private experience you are pretty worthless outside of being an auditor, i.e. I would never hire as a Director, VP, or CFO from someone straight out of public.

I agree with you. I think she could possibly leave public and work in internal audit/sox compliance in a year or two. Hard to say whether or not she'd get a manager position, they'd probably offer her a senior position right now and she wouldn't take it because she already worked for and achieved manager title. I've mentioned to her how manager positions that open up at the tech company I work at and others that recruiters talk to me about look for a combination of Big 4 and industry experience. Honestly, I think she'll end up eventually leaving in a year and a half, and going to a smaller firm because she still enjoys auditing but is starting to get burned out from the Big 4 hours and stress.

I use to work at the same Big 4 as her here in the Bay Area. I left after exactly 3 full years of experience for a revenue policy position at a tech company with better hours and a nice pay increase. That was 2 years ago and I couldn't be happier, and even though I'm not a manager yet (senior instead), I'll probably still make about 10-15% more than she will even though she's a higher position than me, more if you include my bonus and stock.

 

[GasX]

If you get certified as an Anesthesiologist Assistant (~2 years Masters program) you will graduate with 100% employment at starting salaries averaging $120k

 

[coolVariable]

lawyers, programmers, ...

 

[thegimp03]

I thought brand name firms (PWC EY) usually pay less. CPA allows you to be promoted to manager. CPA is generally pointless in corporate accounting but it's a "requirement" if you want to be a competitive candidate.

They do pay less...they know they're going to attract the talent regardless because of their big name and recognition, they're hiring 1,500 kids at a time, and the partners want their pay as close as possible to the $750 an hour they charge their clients for.

The people I know who worked at smaller firms right out of college generally made about 10% more than the same position at a Big 4...in lower level positions anyways.

 

[holden j caufield]

Sad thing is that as a gov't accountant, there's no way I'm getting to $100K unless you're in executive level.

I think if you factor in your job security and all your benefits. You'll be past or near that level after a few years. What are your pension, and medi benefits like?

 

[senseamp]

Don't be a commodity. Develop unique in demand skills, get advanced degrees, then market yourself properly.

 

[Slew Foot]

If you get certified as an Anesthesiologist Assistant (~2 years Masters program) you will graduate with 100% employment at starting salaries averaging $120k

Probably faster and easier to drop out of HS, get a GED, get an RN certificate and then go to CRNA school. Youll start out at 160kish.

 

[InflatableBuddha]

I like that Americans are constantly worried about how much money they make and how much money others make.

I just want to be happy.

Not sure if you're trolling or being serious, but I agree.

I make enough to pay the rent and bills, save a bit for retirement, keep my old car running and go on a few cheap trips.

What would make me happier? More income would let me save more for retirement, afford a newer used car, and travel more.

 

[Apple Of Sodom]

BS CS, MSE in Software Engineering.

Hit 6 figures at about 23 working Healthcare IT and being on call.

Haven't hit 30 yet and made $330K-ish last year doing healthcare IT, consulting, hardware and software sales, and some custom software solutions.

Working for yourself gives you the biggest earning potential, but also the most risk. While I am on track to make a similar amount this year but I do realize that next year it could only be $100K...

I am valuable because of my education, experience, charm, work ethic, and my ability to make myself irreplaceable and available.

And FYI, $100K is not that much, even in smaller towns. Don't get me wrong, it is comfortable and you don't have to worry about balancing the checkbook on a daily basis...but it isn't the "I will buy anything I want" lifestyle most people think it is.

I've heard it said that $200K is the new $100K.

 

[Saint Nick]

Not sure if you're trolling or being serious, but I agree.

I am being completely serious. A few of my very close accquaintances are very money-minded and wear it on their sleeve. They go around talking about buying this, that, the other. I have even had one friend go as far as to tell us how much he makes and is glad he always has more than $15,000 in the bank at any time.

Another interesting point about these accquaintances is that they are very stressed-out and high-strung. They can't maintain romantic relationships and have a very short fuse. Not much else I can say about it.

I am not generalizing AT -- I am speaking out about my accquaintances.

 

[Aharami]

$330K-ish last year doing healthcare IT

I find that very hard to believe. Healthcare IT doesnt pay nearly as well as other IT sectors. I'm in the industry too

 

[Apple Of Sodom]

I am being completely serious. A few of my very close accquaintances are very money-minded and wear it on their sleeve. They go around talking about buying this, that, the other. I have even had one friend go as far as to tell us how much he makes and is glad he always has more than $15,000 in the bank at any time.

Another interesting point about these accquaintances is that they are very stressed-out and high-strung. They can't maintain romantic relationships and have a very short fuse. Not much else I can say about it.

I am not generalizing AT -- I am speaking out about my accquaintances.

Then your friends are asshats. I have a few friends who always try to do that (most people have no clue as to how much I make) and I just smile. When they ask I don't tell them... although from what they tell me I make in a day what the make in a week. It is stupid to brag because someone else is always richer and it isn't a fucking competition. Not even my parents know how much I make. My wife and accountant do (and strangers on ATOT) but that is pretty much it.

I don't know what I would do if I only had $15K in the bank and here is your friend bragging about it. And I am sure there are people who would look at my bank account and go "Holy shit! He is broke!" Repeat ad nauseum.

 

[EarthwormJim]

What utility, if you don't mind?

Rather not say, just that I'm in Southern California.

 

[bfdd]

I made close to 100k a year a few years ago in my EARLY 20's 20-23. Worked in the oil industry doing skilled labor. Lots of OT, lots of money, good benefits etc. All depends on what you want to do, I've known people who started businesses in high school and are still running them today easily making 150k-200k a year.

 

[Apple Of Sodom]

I find that very hard to believe. Healthcare IT doesnt pay nearly as well as other IT sectors. I'm in the industry too

Implementation of Electronic Health Records? Sales of software and hardware? Reselling medical equipment? (think of X-Ray rooms or $100,000 software packages) Monthly contracts for keeping systems running?

Again, I work for myself as an independent contractor. I make sales, I make things work. I don't sit in a basement answering help desk calls to make that money.

 

[Saint Nick]

Then your friends are asshats. I have a few friends who always try to do that (most people have no clue as to how much I make) and I just smile. When they ask I don't tell them... although from what they tell me I make in a day what the make in a week. It is stupid to brag because someone else is always richer and it isn't a fucking competition. Not even my parents know how much I make. My wife and accountant do (and strangers on ATOT) but that is pretty much it.

I don't know what I would do if I only had $15K in the bank and here is your friend bragging about it. And I am sure there are people who would look at my bank account and go "Holy shit! He is broke!" Repeat ad nauseum.

I have barely any money in my bank account and couldn't care any less. But, I have a very low standard of living that I am happy with. I have a lot of very superficial accquaintances.

Like most things, it should be a matter of opinion. I am sure there are a lot of very happy people who rake in fat ca$h. I just enjoy modesty.

 

[Rubycon]

I have barely any money in my bank account and couldn't care any less. But, I have a very low standard of living that I am happy with. I have a lot of very superficial accquaintances.

Shouldn't your money be like your PC RAM? If you have a ton of money in the bank you are wasting it when you could be making money investing! That's why Win7 uses all your RAM - unused RAM is wasted RAM!

Sorry could not resist a geek joke to break the scum that's forming on the top of the tank.

 

[Apple Of Sodom]

I have barely any money in my bank account and couldn't care any less. But, I have a very low standard of living that I am happy with. I have a lot of very superficial accquaintances.

And I have a decent amount of money but the stress that comes with it. I cannot just take two weeks off and go camping with no cell phone service. I take meetings at 10:30 p.m. I work 50-60 hours a week. We have different values. We are both happy. Some days I would trade what I have for what you have and I'm sure days you would feel the same way.

In the end, it doesn't really matter as long as your happy. I'm a happy person and I don't need to go waving deposit slips in front of someone's nose to feel validated.

I do it because I have some specific goals and those goals require money. I am making the trade-off: less free time now for doing what I love later (and what I love will require money.)