How much do you have to make to be considered making good money by age?
 

Hi All,

I would like to get RS members opinion about what you consider making good money by age?...here are my thoughts

19yrs to 22yrs = $40k to $60k

23yrs to 26yrs = $60k to $80k

27yrs to 33yrs = $80k to $120k

34yrs to 37yrs = $120k to $200k

38yrs+ = +$200k

Do you think I am out to lunch?

yes you are out to lunch.

try moving all the pricing on level.

19-22 yrs old, unless you're in trades and skipped univeristy, 60K at ages 22 is near unattainable.

26 yrs old 80k-100K? unless you're dealing crack OR if you're in financial banker in investments, u can't get there.

yes those are definately good monoey figures for those age groups. im 24 and i wish i was in thay group haha ah wells fuck it ill get there eventually. Ah wells though im still making mroe money now then alot of people i know and considering I have little work experiance and didnt grad HS id say im doing fine for now.

dont have to deal crack to make +80K
 

Hey 6793026

"26 yrs old 80k-100K? unless you're dealing crack OR if you're in financial banker in investments, u can't get there"

I hate to say it, but you are wrong because when I was 26yrs old I was making 80K+....I was not a investment banker or financial adviser......I was a sales rep for an international tier 1 packaged goods company making $60K base salary + car + $20-25k in annual bonuses....so you can get there legally.....z3guy

Re: How much do you have to make to be considered making good money by age?
 

More likely...

19 to 22 - 25k to 35k
23 to 26 - 35k to 40k
27 to 33 - 40k to 60k
34 to 37 - 60k to 80k
38+ - 100k+

Entry level jobs... You're lucky if you start at 30k/year (or approx $15 an hour).

If you are a natural salesperson, then yes, it is entirely possible to make over 100k/year with commission. However, getting a job that ISN'T in sales that pays you 70k/year... You're looking at high powered jobs that require a lot of business background, maturity and education/experience that most 22 year olds don't have.

Re: How much do you have to make to be considered making good money by age?
 

In a perfect world.....

Trinity's figures sound about right to me

Re: How much do you have to make to be considered making good money by age?
 

Yeah as gross income, those look right to me

Trinity's figures are more like what most people make, not what's considered good money by age

The original poster did say "Good money", not what people will earn on average.

$40k-60k for someone who is 19-22 is entirely doable for someone who taught themselves a valued skill in tech and work as contractors.

Assuming they work 30 hrs a week @ $45/hr (low end of contracting hourly rates), they'd be pulling in $64k

There are other ways to make that kind of money - poker, stock market, running your own business, etc etc

The same applies for any other salaries levels that the OP posted. Also note that he didn't specify if it was from a single job or something else.

Someone could easily clear $60k in entry level jobs working 80hr weeks.. they'd die and burn out after a while, but it's still possible.

It's totally possible to earn $100k a year by the time you're 24 without having to do sales. All it takes is the willingness to work hard.

Damn, I'd love to be making that sort of money. By 24 I won't even be out of law school yet (if I even make it in, in the first place :().

lol, i'm 23 and I'm making 15k/yr. I'm screwed

LOL so many people can't read...

How much you make is important, but it doesn't matter if you can't manage your wealth.

Someone who is good with their savings can have more assets & savings with a $30k income than someone with a $60k income and bad spending habits.

I think the numbers in the original post are accurate for what _I_ would consider really GOOD MONEY for that age.

Depending on the trade, how good you are and how hard you work you can get into the 100K range within 6 years straight out of high school but it does top out. The plus side of course is you bypass a formal education and get paid to learn only doing 6 weeks of school time a year for 4 years.

For the record not everyone or even most are going to hit the 6 figure mark ever in a trade it all depends on the trade and how good you are at it but it can be done.

No, not really. At 15k/year, and also paying taxes... You're at just the right tax bracket to not actually pay any taxes - meaning, at tax time, you get ALL your taxes back.

If you're smart, you can take that tax return and invest it in an RRSP or GIC or some other investment.

lets make this interesting :

To all the people who said it is possible to make a certain number by a certain age- plz provide some example jobs ( not juss work hard and good attitute - cuz "i" can be a cashier and work hard at my job and it will only get me 8.00/hr .. or i can sell PSP's at bestbuy and earn 9.00 + 10 of PSP commision ) - like they say - talk is cheap :P

being a 4th class power engineer is doable....im 21 a Gas turbine tech and also a 4thclass PE....my pay is +20 so im happy.

and person 18 and above can work in a industrial environment; get firing time, and apply to be a 4th class....

go from 9dollars an hour to +20 in a few months of school.

yes I'm on track!

gotta love trades!

One word : Cartel.

Trades can get you there, or going to a professional school in Uni. 4 Year Bachelor + 2-4 more years to become urban planner, MD, Lawyer, Chiro, Physio, Engineer, etc. and you easily make the kind of coin in the first post by 26. And that is AFTER taxes. And not working 80 hours a week

To echo what lowprofile said about a professional career, here are some examples.

I am a computer engineer so my examples come from that field. These are real starting salaries from some of the people that I know from school. All they had was a 4 year education plus 1-2 years of co-op experiences. The average graduating age was 23 years old (some 22, some 24, mostly 23).

U.S. Examples in US dollars:

Microsoft, Redmond, Wash., ~20 new hires at 74-80k

Amazon, Seattle, Wash., ~5 people, 80k

Google, Yahoo, eBay in Bay Area, California, ~25 people at 76-82k

Bay Area semiconductor companies, ~10 people at 72-76k

New York finanicial companies, ~5 people at 80-84k

Canada Examples in Canadian dollars:
ATI, Toronto, ~10 new hires, 60-65k

IBM, Toronto, ~10 people, 60k

IT support folks at big companies like Exxon Mobil, Royal Bank in Toronto ~5 people, 50k

Beyond my field, there are professions like accounting and actuarial sciences that you can graduate from in 4-5 years at university.

From people I know personally, accounting grads had starting salary from 60-85k in Toronto. Actuarial sciences grad I know had starting salaries from 60k in Toronto to 85k in Boston.

Journeymen framer/boarders doing commercial work make 30+ an hour, only takes 4 years to become a journeymen so starting right out of high school you'll be making close to that by age 22. Like I said above you get paid well learning and school is only 6 weeks a year so instead of paying 10's of thousands to go to school your getting paid that to work and learn.

We had a few tapers that used to work for us and they were making between $9000-9500 a month doing piece work. These guys were working a lot more then 40 hours a week and were good at what they did. These two trades are probably some of the lower paid trades or at least they used to be.

Theres a couple of examples in the area I know. Like above it's not the norm the average Journeymen Framer/Boarder doing commercial work and working regular hours probably makes 65-70K. This trade is the armpit of the industry as well so take it for what it is because nobody grows up saying I want to frame and board buildings. :) If your really good at what you do move into management or start your own thing and then sky's the limit.

Thats just one route theres hundreds of specialized trades and so many different routes that include trades that don't involve construction like certain types of specialized mechanics and what not. Thats just scratching the surface theres a lot of different jobs out there and I can't even pretend to know much about any of them.

The downside is you'll cap out your earning potential way before an Engineer, Doctor, CEO will so for the most part the hi's although decent will never be as high as some of the other good paying professions. It's late for me so most of this probably doesn't even make sense but whatever, there ya go off the top of my head.

this thread depresses me!

Hey man, the obvious professions that would easily generate more gross income than orginally posted would be Doctors, Dentists, Lawyers...even then, they gotta be good at billing...so Tiger Handheld I can totally understand your skepticism......I am a general manager for a multinational fine wine and spirits company, but I also used to work for a beer company, so these salaries ranges are what my current and previous company pays;

Sales Rep: $50K - $65K base + car + 10-30% annual bonuses
Sales Manager: $70-$100K base + car + 15%-35% annual bonuses
Brand Manager: $80-$100K + bonuses
Assistant Brand Manager: $50-$60K + bonuses
Trade Marketing Manager: $60-$80K +10%-20% bonuses
IT Support Manager for : $70-$100K
IT Technical Support (entry level) $35 - $55k

Please note most of these roles are for people in their mid 20s to mid 30s.

Net, net sales/marketing roles in national packaged goods companies (Nestle, P&G, Kraft, Kelloggs) Beverage companies (Pepsi, Molson, Labatts, Red Bull) Pharmaceuticals, Medical equipment sales (A friend of mine sells boring ass dental equipment and makes $200K a year) all will generate the above incomes

Where the money is really made is when you get your experience working for a large national or multi national corporation in a senior marketing or sales position then move to a smaller company in a more senior role (General Manager, Provincial Mgr, etc). All smaller companies want the expertise and processes from larger companies.

I know most RS members are young and are just starting out on their careers, so I would encourage you to pursue industries you are passionate about (I am passionate about alcohol, which is why I work in the industry) and the money will come. Never just go after the money.

I'm 27, one of my gigs, I'm a private security consultant. My minimum rate is $100/hr, avg is $150/hr., usually when on film productions its around 10hrs a day. My last client signed me to a 6 figure contract for 5 months to work on her 2 latest productions. Also when working on film productions, my clients always give me a wrap gift, I've recieved stuff like vacations, Ipods, $5k+ watches and even a $100k+ car before (the car I couldn't accept).

One of my buddies is 25, stock broker, pulls in about 50k a month.

What do we both have in common, a great client list. In both our professions its all about networking.

:werd: