Landed a new job making 150K a year

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SimpleLife
Posts: 771
Joined: Wed Aug 21, 2013 8:23 pm

Landed a new job making 150K a year

Post by SimpleLife »

Although I was in the six figure range, 150K is a size able increase over my 110-115k previous salary. I'm also making about 30K in investment income on the side as well, so my total income not counting real estate appreciation is 180K per year!!!

First off, let me say I never thought anything like this was possible. Second, there's an element of uncertainty, since I don't want to do anything to screw it up lol, but I keep having to remind myself, when I hit 60, then 80, then 100K years ago, I felt the exact same way.

Third, let me say I'm not sure where to go from here, once this ends. The higher my income goes the harder it is to find a comparable job or one that pays the "next step". It would either take me longer to find comparable work, or I'd have to take a lower paying position, etc. Part of me feels like I have to keep this going and keep advancing. Part of me, perhaps a bigger part of me says, you can go do something else less stressful now (once this ends) and still always brag about the glory high income days, while I work in HR, or something like that.

The reality is that I've used my income, and am still using it, to bulk up on real estate for retirement. Once I'm finished putting it all in place in the next year or so, I will be set. I CAN honestly walk away when it ends and relax, go do something that pays less but where I am interested in going out on Friday night once in a while like I used to when I was in my twenties. Now I'm just happy to be home and left alone lol. Even though I'm financially independent, I would not mind working a few more years so long as I'm not stressed out, etc.

On top of the above, I feel like I'm taking on a lot. New job/new role managing people, getting my MBA, managing existing rentals, buying two more rentals, home maintenance, and a gf to keep a relationship alive with. Part of me is stressed out and doesn't like it sometimes, but part of me is like, meh, this is business as usual. Right now, I think if I manage my time wisely, I can make it work, just like I did in undergrad full time while building my career full time and of course, dating at the same time...

Tyler9000
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Re: Landed a new job making 150K a year

Post by Tyler9000 »

Congrats! That's a great accomplishment.
SimpleLife wrote:I'm not sure where to go from here, once this ends.
Wherever you desire. IMHO, the most important thing is not to artificially trap yourself with salary.

If I look at my salary history, it's a lot like a bell curve with the back tail cut off. It was a slow climb at first, but hit an inflection point of rapid growth and leveled out at a peak about where you are. That level of pay would have been unimaginable to my younger self. But rather than looking to continue moving up like some around me and making more personal sacrifices to do so, I noticed that my investments were already well-funded and compound interest was taking over my net worth growth anyway so salary had less marginal value than when I was younger. At that point I started trading salary back for more desirable work. I accepted two pay cuts after that peak, but did so to move to much nicer companies in a fun industry back to the roots of my first job out of college. For me, that was the perfect way to coast to the end of career #1.

FWIW, I think taking on a lot is fine while it's still fun. Just don't be afraid to cut things when they no longer make sense. And don't neglect the GF. Cultivating relationships requires a lot more than good time management.

Noided

Re: Landed a new job making 150K a year

Post by Noided »

If you are financially stable your job should be the least of your worries. At least that is how I think about it. Once I reach a certain level of saved capital, I don't want to be stressed out about survival.

You guys mention that you never thought about you would be making that much when you started (younger years). I hope I am on that track, but I also like to think like a stoic. I have to be happy, even if things were like this forever.

jacob
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Re: Landed a new job making 150K a year

Post by jacob »

I get the same impression as Tyler9000. I fear your biggest future challenge might be dissociating yourself from keeping dollar scores both with yourself and with others. Will you be able to let go off seeing increases in net? Will you be able to take a job earning substantially less than your previous job? Will you be happy making less than those you normally compare yourself to?

Scott 2
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Re: Landed a new job making 150K a year

Post by Scott 2 »

That's a lot of money.

What motivates you to work so hard?

I know I "should" be moving around while the IT market is hot, but I just cannot bring myself to take on the discomfort.

Dragline
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Re: Landed a new job making 150K a year

Post by Dragline »

jacob wrote:I get the same impression as Tyler9000. I fear your biggest future challenge might be dissociating yourself from keeping dollar scores both with yourself and with others. Will you be able to let go off seeing increases in net? Will you be able to take a job earning substantially less than your previous job? Will you be happy making less than those you normally compare yourself to?
Yes, this is the biggest challenge of raises, both in terms of lifestyle creep and keeping score as an easy-to-define substitute for more meaningful goals. But if you can take virtually all of the new money and invest it, and not get caught up with the joneses, you'll do fine.

Note that the more highly compensated joneses tend to care a lot more about compensation and conspicuous consumption -- theirs and everyone else's. Such environments can be toxic.

The Old Man
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Re: Landed a new job making 150K a year

Post by The Old Man »

Congratulations on the accomplishment!
The higher my income goes the harder it is to find a comparable job or one that pays the "next step".
You write your own ticket. You make your own luck. You are competing against a field of one.

Depending on your interests you may find that the "next level" demands more of you than what you would gain, so you "decline" the next level. Many people reach that point and make that decision. You would not be the first or the last.

riparian
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Re: Landed a new job making 150K a year

Post by riparian »

^ Agree. Opt out of the next level before you're too miserable.

SimpleLife
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Re: Landed a new job making 150K a year

Post by SimpleLife »

I think the next step for me is to get into an Executive or Senior Director role. I actually prefer the politics to the technical work these days, and dare I say I've gotten good at it? In any case, if I decide I want out, I think HR Recruiting is where I'd try to get into next. Yes, a it would not pay as well, but you can make a very 60-70K a year income in my area as a recruiter, and it's an easy job relative to what I'm doing now that I could coast into my 50's in.

Not sure why I do it. I guess I just have a lot of drive. My brother is the same way. Plus, I think a part of me feels that I should get while the gettin' is good. I may not always be able to work, and when I look at my financial situation now, I'm glad I pushed and invested wisely since I now don't have to worry about it. I can see myself pushing my IT career until I fizzle out and then either retiring for good or changing careers to Recruiting/HR.

Scott 2
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Re: Landed a new job making 150K a year

Post by Scott 2 »

If you do it cause you like it, that's fantastic. We need more people living like that, especially in the corporate world. I met my quota for working with disgruntled IT folks a decade ago. It hasn't improved.

FI Fighter
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Re: Landed a new job making 150K a year

Post by FI Fighter »

@SimpleLife

Congrats with the new job and all your successes in life! Looks like you got a ton on your plate, but at least you're not bored ;)

Kriegsspiel
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Re: Landed a new job making 150K a year

Post by Kriegsspiel »

Good job little champion.

Did
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Re: Landed a new job making 150K a year

Post by Did »

I worked in the law and my salary increased a large amount most years. A MASSIVE amount in the last couple of years. Sounds arrogant, and it is another world to the one I am in now, but we (my crowd) used to pity those on 200k say, and fear, genuinely fear having to try and live on that (due to debt and ignorance, it would seem). It was hard to turn my back on that, especially when staying in the game a few more years would have increased my net worth by hundreds. But I had gone as far as I could go, and got out just as I was getting up the greasy pole somewhat.

Quitting a job that pays a fortune is different to quitting a normal job. You can always get another job. You can't just walk into something that pays say 500k. It's a big risk, at least in your mind.

I'm proof there is life after a large salary, even if you 'only' have net worth that would send your financial advisor into a fit. (less than Mr MM for example). Should I have saved more? Of course. Lost some in real estate but no excuse.

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