Earning £100k a year - Silly young people who think they can

j

i think michael caine said something along the lines of that he'd been miserable poor and misereable rich;he'd be miserable rich anyday

 

Just what has a new graduate to offer to earn 100K?

(1) The person can have a good idea and convince someone else to develop it into something worth considerably more than 100K while they the new graduate collects a fee of 100K (each year) for the original idea. Could be done but only buy a small number of thinkers with business partners who would finance such projects.

(2) They may be seen as valuable to a business because of a link via family members or associates, more a case of who they know rather than what they can them self do.

(3) They might marry into money or be kept by a rich partner who is willing to give them a 100K a year allowance.

These ideas may allow one to make 100K in year one but I am sure there are other ideas some criminal and relating to drugs, porn or dodgy financial dealings but they are just a subset of (1).

Can't think of anything else that has not been already covered other than being the "New face of Preperation H" after been seen on some Big Brother type show . . . .

 

john,
i'm talking about finding a happy medium, if you can earn 100k working 80 hours a week and be miserable, could you earn 50k for 40 hours and be ok. or 25k for 20 hours and be deleriously happy. to be honest if i'm happy i don;t really give a damn how much i'm earning - because i'm happy. if i was earning too little to fulfil my needs (not just subsistance) then i'm not going to be happy. if i'm alienating my family and hurting myself because of overwork then i'm also unhappy. if i hit that sweet spot where my life and work are in perfect balance then i'm happy.
there are as many measures of happiness as there are people unfortunately most believe that money is the only one. - just look at why this thread started.

 

Stay out of Engineering and you might have a chance....

 

So how much do plumbers make these days? I keep telling my dad he should do that since he can. Rather, he chose to go back to teaching (I.T. not plumbing) when he needed the money... I'm sure he would make more as a plumber?

 

julian

of course it's all about finding a happy meduim, and i try to seek out the same, don't we all.

 

john,
well i'm not so sure - i know a number of people who have all the trappings, a big house, a nice car, etc. but they all they seem to do is work, sleep and moan about how crap their lives are.
tenson,
the old saying 'where there's muck, there's brass' is truer today than ever. if you're willing to get dirty / wet etc. then you can rake it in but i don;t think the stories of people giving up city jobs to double their earnings as plumbers are quite true. however if you set yourself up as an emergency call out plumber in a big city then you could earn a fair bit.

 

julien

i suppose they haven't found a happy medium.

Being a pompey fan (smily face) i sat through 4 mins of our chairman being interviewed via bbc.co.interweb - asside from the usual stuff about escaping relegation (another happy face) he said something that stuck in my mind.

when asked if he had plans for a holiday he said that every day he wakes up is a holiday

touch wood, my family and I seem to have found a happy medium although our days seem to be planned like a military operation to achieve this. mrs johnh has another on the way so later this year all being well we'll have another peroid of adjustment and revised schedule to go along with it...and a brother or sister for our little one(even bigger smily face)

this might well also have buggered my plan for a new pair of loudspeakers and maybe some room dsp to go along with it although pregnant women can be challenging company and i can see me ordering them in a fit of pique.

i rambling now but as an example of a happy medium my wife and child are in toulouse for the week and i'm sitting in my office writing this.

oh yeah and the ****ing dishwasher packed , again, this morning.

have a nice day

 

Very few quants make over £100k (luckily I am one of them!). Only a tiny fraction of lawyers will ever make that kind of money either. Even in IT very few contractors get over £100k.

Only less than 1% of the population will ever earn that kind of money. Most of them will have started with money behind them and set up a business or work in the city and come from rarefied backgrounds. I work in the hedge fund industry as a systematic quant strategist and very very few people in that industry come from my working class background and they tend to be at the bottom. It took a lot of luck (and some moments of inspiration) for me to get to the top.

 

BBV,

There is something rather indiscreet about boasting how much money one earns (of course I expect nothing less from you!). Perhaps you'd like to modify your post.

I do agree with your other points though. Very few people actually earn that kind of money and generally you need quite a lot of luck to get there.

 

BV

thanks for that, you've cheered me right up.

asside from the insight into your finances you make the startling point that only a very few people can ever make 100k pa. i think the contributors to this thread realise that. The point was that you can, with suffiecient breaks,hard work etc.

 

In general you're probably right but most IT people (contractor or permanent staff) who work in any of the City financial firms will earn £100K or more. I work in a team of 9 people for just such a firm and the average salary of the team is around £100K, more if you include bonuses. By "IT People" I mean analysts, developers, project managers etc, not they guy who comes to swap out your faulty network card...but even they earn pretty good money in the city.

And IT salaries in the city pale into insignificance compared to what many guys in the business earn. £500K-£1M a year plus a similar amount as a bonus is completely normal. So, whilst I seriously doubt that any grad will get £100K in their first job, if they are determined and aim to get a job in The City then £100K is easily within reach.

Money isn't everything though. Whilst I'm incredibly lucky to have the job I have (and be allowed to do it largely from home in Portugal) I'd still prefer to not have to go London once a month so once I pay off the mortgage (this summer) I'll be out of there and do something based in Portugal. I'll only earn 25% of what I was earning but I'll be happier

Michael.

 

Blimey, Mike is at it now!

Never mind, I'll go quietly.

 

there you go - everyone's at it.

 

I didn't say where my salary was in relation to that average

 

Money!....its a drag....

 

That's commerce pal. I'm not suggesting it happens overnight. You have to work hard and potentially live on sweet fa at times. They'll be times of plenty - when you need to squirrel away for the lean times. You'll need to be MD, Marketing Director, Sales Director, HR Manager, Technician, Accounts Payable, etc. etc. but my point is - you get back what you put in and you are more likely to earn more (if relatively successful than working for someone else.

On the other hand an old mate works for someone else and from the age of 30 was earning circa. £400K per year. Now at 34 he's on just over £1M including bonus' (he hates his job though which makes me feel slightly better)

 

Unfortunately I think more lawyers, senior sales managers and bankers earn >£100K than you might like to think around my age a substantial number of my friends are into six figures. However the hoop jumping, long hours, etc. can result in a breakdown of life outside work. I've tried to strike a good work/life balance and it appears (so far) to balance both sides quite well. Edited to add: has anyone noticed how modest BBV is?

 

Personally I don't see what the British thing is about saying how much you earn. It doesn't really matter as long as you are happy so what’s the problem with saying?

 

Not sure I agree, generally people tell you for a reason and typically the reason is to try and boost their ego at your expense or perhaps to determine whether you are on their level to fuel their insecurities. Either way it's a bit sad IMO.

I mean I dont go round bragging about my 11" dick