tractor
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Post by tractor on Sept 11, 2021 8:18:51 GMT -5
I was given a nice raise this week. It got me thinking about where I started and in line with another thread, I am now making 5X more than I did when I got my first salaried position 30-years ago. I can't wait to see where the next ten take me.
How much salary growth have you seen over your career?
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Deleted
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Post by Deleted on Sept 11, 2021 8:26:31 GMT -5
Well, I started at $10,000 in 1975 and ended at around $120K in 2014. That's 6.7% annually. Not bad. A lot of it happened early- actuaries get automatic increases as they pass exams at most employers and I got through them pretty quickly. The last few years I barely kept up with inflation. The company decided that they wanted our compensation to be more variable (i.e. bonuses) and less fixed so raises were piddly and the change in the bonus didn't make up for that. The big increases were for promotions and I'd tried for those but never managed them. Even my moves didn't really increase my compensation that much. I got a lot moving from Ohio to NJ but needed it for the HCOL. Subsequent moves were "get me the heck outta here" moves and I was happy with minimal extra $$. And I was/am a lousy negotiator.
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billisonboard
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Post by billisonboard on Sept 11, 2021 9:17:57 GMT -5
Never had a "career" but at 17 my first salaried position in 1974 paid $3,913.20 base pay (according to Google). After discharge, college, and various jobs I did end up make significantly more.
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andi9899
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Post by andi9899 on Sept 11, 2021 9:44:43 GMT -5
My first job ever was at a movie theater for minimum wage. $4.25/hr at the time. I'm at almost 10 times that now 26 years later. I still have another 20 years of working ahead of me.
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NoNamePerson
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Post by NoNamePerson on Sept 11, 2021 9:49:15 GMT -5
I’ll just go back to one salary I can remember since worked after school jobs and Saturday jobs while in high school. But no career here but thought I had struck it rich when I got job making $100.00 a week as 19 yr old (1962) as secretary to an attorney Can say glad I moved on since down the road said attorney turned states evidence against attorney general to keep out of jail I had married/moved from city when that hit papers in 67/68. I was scared they would track me down to testify! Opps, got off topic! Just brought up some amusing antidote from my youth
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Lizard Queen
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Post by Lizard Queen on Sept 11, 2021 10:23:32 GMT -5
A little over 3x what I made starting Dec 98.
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Cookies Galore
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Post by Cookies Galore on Sept 11, 2021 11:01:01 GMT -5
I've been with my company for 12 years so I'll just go with that since there's no adjusting for inflation or anything like that. I started at $37,000 in 2009 and I currently make just under $67,000. That's with two promotions and annual raises. I waitressed for a few years after college and had a couple of office jobs where I made around what my starting salary at my current place was, so I really have no salary history to go by.
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MN-Investor
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Post by MN-Investor on Sept 11, 2021 11:12:53 GMT -5
My first job in the tax department of a Big 8 accounting firm, starting in Jan 1975, paid $13,020/year. When I stopped working in mid-1999, as a IT corporate goddess , my salary was $63,708/year, which calculates to an annual increase of 6.84%. Now I depend on my portfolio to make that increase.
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stillmovingforward
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Post by stillmovingforward on Sept 11, 2021 11:31:13 GMT -5
3.5x in 20 years. But I've job hopped quite a bit. I'd like to stay where I am now until I retire in 13 years.
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Post by The Walk of the Penguin Mich on Sept 11, 2021 11:43:07 GMT -5
When I started out working in research in 1981, my salary was $12,500/year. When I left 30 years later, it was $65,000.
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sesfw
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Post by sesfw on Sept 11, 2021 11:44:49 GMT -5
My first job was a high end department store (1965) and min wage was $1.25 per hour. My highest wage was $14.85 per hour (2001) as a calibration technician. Right now at my part time assembly job is $14 per hour.
I've always paid my bills, and now have a houseful of stuff that I have to weed through.
One thing I've noticed through the years. In my 20-30-40s bought/got a lot of stuff that I didn't look at again, except maybe to dust (ugh). Now that I'm older and starting to feel overwhelmed, it's time to get rid of.
Filling up the trash bin each week, It's a very freeing feeling.
DD, DSIL, 2 DGD, 3 D Greats are coming over today to go through 17 bankers boxes of Christmas 'stuff'.
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steph08
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Post by steph08 on Sept 11, 2021 12:32:09 GMT -5
Graduated from college in 2007, worked at first company until 2016 and am still at second company. My salary has grown 2.24 times since I started full-time work.
The big increase came from moving companies (30% raise for new position).
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dannylion
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Post by dannylion on Sept 11, 2021 12:41:46 GMT -5
Started at 12k in 1977, retired at 160k in 2011. Air Force pay for the 4 years prior to starting my civilian job probably in the range @billsonboard mentioned, but it did include room and board, so there was that.
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susana1954
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Post by susana1954 on Sept 11, 2021 12:45:38 GMT -5
In 1974 I earned $7800 as a starting teacher. In 2019 I retired with a "final average salary" of $64,000. That was with an advanced degree, maximum experience, and working 2 or 3 side jobs that contributed. Without those, I was at $60k at the end.
But you have to keep inflation in mind. My daughter just sold the house that we built for $45k in 1976 for $300k. So it isn't all an increase in buying power.
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TheOtherMe
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Post by TheOtherMe on Sept 11, 2021 14:31:47 GMT -5
High school jobs paid $1.00 per hour.
First real job in the summer of 1969 was at a GS-2, which paid just under $4,000 per year. That's when I figured out secretarial work was not feasible to live on for the rest of my life and went to college part time and worked full time for a few years. Then I switched to full time college and part time work at the same agency.
College degree and professional job got me to GS-13 by retirement. At that time, I would have had to go in to management to get further promotions and I had no interest in that.
ETA: In the late 60's and early 70's, unless you were going in to clerical work, it was next to impossible to get a job with the federal government due to the 10 point preference for veterans. I did manage to score 99 on the clerical exam, but a veteran would have shown a score of 109. If you aren't in the top 3 on the list, you didn't get an interview.
I was thrilled to get on with the government because Des Moines was full of insurance companies that paid far less than the government.
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NastyWoman
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Post by NastyWoman on Sept 11, 2021 16:30:36 GMT -5
A little over 3.5X in 21 years and that will be it, as I intend to (fingers crossed) retire in about 2 months.
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Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on Sept 11, 2021 17:32:09 GMT -5
For my actual profession: I'm up 2.75x my starting salary. However, I had to go into middle management to make that increase. If I'd stayed at the original level--which is not a bad choice because I do love that job--I would only be at 1.75x my starting salary.
I started in 2005. This is my 17th year--seven of which have been in the middle management pay grade.
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giramomma
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Post by giramomma on Sept 11, 2021 17:37:06 GMT -5
20 years ago, I was making about 24K 17 years ago, 40K Today: 65K I'm asking for another merit raise that should get me close to 70K whenever that happens.
A decade of no raises, and four of those years having furloughs doesn't really grow your income. On the flip side, staying put instead of chasing more income saved me low six figures in childcare bills.
And I still only pay $230/ month for health insurance for 6 people. And full pension at 57 if I need to exercise that option.
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swamp
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Post by swamp on Sept 11, 2021 17:45:35 GMT -5
My first real lawyer job was an Asst DA. 1996. $31,000
I now make about $200k
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laterbloomer
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Post by laterbloomer on Sept 11, 2021 18:12:34 GMT -5
My first real job in admin in 1985 was about $250/week. I make 6 times that much now. It doesn't sound like much when I say it that way, but I feel a lot richer now.
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Deleted
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Post by Deleted on Sept 11, 2021 20:57:59 GMT -5
I was thrilled to get on with the government because Des Moines was full of insurance companies that paid far less than the government. That surprises me. DS is making something over $60K/year as a claims adjuster in Des Moines, 13 years out of college, with decent health insurance. Government workers do better than that and get pensions, too?
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finnime
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Post by finnime on Sept 11, 2021 21:56:13 GMT -5
My first professional job (software engineer) I made $17,200 in Norfolk, Virginia. Thirty years later I was making 7 times that, including bonuses, as an IT project director for a large health system on the east coast.
4 years after I started my pay increased by 50% in that one year, due to two promotions and a salary adjustment after another company bought the original company. I went from $26k to $39k.
8 years after I started I was working for another company, making $57k. 5 years later, when I left that company, my pay had increased by 25%.
5 years after that my pay was hitting the FICA maximum every year in late November, without the bonuses. I got an annual bonus of $10k to $20k.
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TheOtherMe
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Post by TheOtherMe on Sept 11, 2021 22:07:26 GMT -5
I was thrilled to get on with the government because Des Moines was full of insurance companies that paid far less than the government. That surprises me. DS is making something over $60K/year as a claims adjuster in Des Moines, 13 years out of college, with decent health insurance. Government workers do better than that and get pensions, too? That was clerical work. I have no idea about other positions. Federal employees work their rear ends off in many professions for less pay because we are serving our country. IMO, we have great health insurance, depending on what you are willing to pay. They no longer get Civil Service Pensions. It's more like a combination of SS and a 401(K), but it has a different name. Since I never worked under that system, I don't know the ins and outs of it.
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movingforward
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Post by movingforward on Sept 12, 2021 8:38:30 GMT -5
First "real job" after graduating college was $20,000 a year. I now make $121,000. So roughly 6 times more 25 years later.
I made some large salary leaps the last few years with promotions, etc. That will stop at this point in my life. More than likely it will just be cost of living raises from now on until I stop working. I'm good with that...I've gotten to where I want to be. Now just want to coast along with a good salary at a good place.
At this point I honestly just want to start enjoying my money. I've finally reached a place in life where I feel like I can do that...
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wvugurl26
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Post by wvugurl26 on Sept 12, 2021 9:32:51 GMT -5
There is a smaller pension. It is much less generous than the old one. I can't remember the calculation off the top of my head. There is also Social Security (if there's anything left when I retire) and the 401k.
I made $39k in 2009 at a small public accounting firm in my first professional job. I now make almost 3x that. I did move from a LCOL to a high one along the way.
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Tiny
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Post by Tiny on Sept 12, 2021 10:09:17 GMT -5
My first salaried job right out of Jr. College - was salaried and paid $14,700 in 1985. I had a "junior" kind of title and made $7 or so an hour with healthcare and 2 weeks vacation, 7 sick days and 3 personal days. I think minimum wage was in the $3 range.
36 years later I'm earning 130K per year. I opted for a "lower paying career path" about 20 years ago.
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TheOtherMe
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Post by TheOtherMe on Sept 12, 2021 10:35:24 GMT -5
. I did move from a LCOL to a high one along the way. I did that also. When the high three was figured for my pension, it was calculated at the base, not with the HCOL adjustment.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Sept 12, 2021 13:43:26 GMT -5
My first job in the tax department of a Big 8 accounting firm, starting in Jan 1975, paid $13,020/year. When I stopped working in mid-1999, as a IT corporate goddess , my salary was $63,708/year, which calculates to an annual increase of 6.84%. Now I depend on my portfolio to make that increase.
Did the IT goddess’ retirement lead to the dot com meltdown?!?!
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Regis
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Post by Regis on Sept 13, 2021 6:16:32 GMT -5
My first job out of college in 1987 paid $10.00/hour. I've averaged 5.8% increases for 34 years, not including distributions I took while I had my own company or bonuses. Not bad for a dumb land surveyor.
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jerseygirl
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Post by jerseygirl on Sept 13, 2021 8:30:53 GMT -5
First job at Woolworth 5&10 at $1 hour in HS, next job same $1 hour working at cookie factory Last job $200000 year at small pharma company after teaching in college, PhD then going to the pharma job starting at $35000 year in 1989 same as teaching salary. Way too low but I was happy with job. Got some good raises then Moved to management of US team and big increase for international management. Company sold and started consulting mostly advice about clinical programs and medical writing . Had medical coverage from corporate job and nice 401k savings Consulting income varied widely ranging from $150 to $225/hr with usually 4-6 months year With last two projects being cancelled after about 2 months I’ve (pretty much) decided to stop Except for the HS jobs I’ve been very fortunate in really enjoying my jobs
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