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#11
Dec 9 2015 04:43pm
Quote (carteblanche @ Dec 9 2015 05:16pm)
i only have one friend worth 7 figures, but he only earns mid 6 figures per year. i dont know any jobs where there's a set path with a high chance of getting it. for example, to be a pharmacist, there's a really high chance you'll get it if you want. whereas most 7 figure jobs are the rarer got-lucky or c-family, both of which have small chances. the only one i know of would be investment banking, but i wouldnt recommend it unless money is worth that much to you. a lot of people get out of IB and into something like hedge funds, which pay mid 6 figures instead of 7 figures, but more tolerable lifestyles. I'm actually semi-interested in being a workaholic and going down that path, but honestly money isn't worth very much to me, which is what's holding me back.


any half decent coder with a few years experience can do this. if i wanted, i could quit my job right now and get that. if you're not familiar with an average programmer's career, i'll briefly sum it up:
4 titles: junior, mid, senior, lead. after the lead position (~30 years old), you'll be faced with a decision: stay technical (mostly contracting) or go to management. there are some hybrid positions like architect, and some companies have more/less titles, but this is the general guideline.

right now i'm 26 at senior level. so i've only got one more promotion left before i have to make the decision, but i can switch to contracting at any time. i've been looking into it more and i keep thinking about whether to switch or not. there are pros/cons to employee/contractor. you can ask for details if it interests you.


what is c-family?

ive thought about IB myself but it does seem extremely demanding - possibly even shady/illegal? - but IB does have characteristics i like

i assume since you are so young @ senior level that is relatively impressive to others in your field?

This post was edited by Duckling on Dec 9 2015 04:43pm
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#12
Dec 9 2015 05:01pm
Quote (Duckling @ Dec 9 2015 05:43pm)
what is c-family?


i meant c-level, sorry. CEO, COO, etc

Quote
i assume since you are so young @ senior level that is relatively impressive to others in your field?

i think you missed the point i was trying to make. the point is coders are for younger people, 20s/30s. senior dev in mid-late 20s is normal. some careers start with fairly high pay and top off really quickly, like pharmacists, where you make 100k starting salary, but you dont really get promotions or raises. coding starts off middle ground (40-60k), then very quickly increases to 90-120k, then tops off. if you wanna earn more than 120k or so, the only way to do that is to quit coding and go into management or become a contractor and find your niche. in my area, a typical java developer charges around 70-80$/hr contracting (the 60k/6months i mentioned earlier). you can find specialized fields and earn up to 300$/hr if you're willing to. as a general rule, the more specialized your niche is, the shorter your contracts are. you won't be at the same company for 5 years 40h/week charging 300$/hr. you might have a 2 month contract, then you gotta find a new client. for reference, when i acquire new skills and switch to contracting, i'm hoping to charge in the 100-125$ range. these are georgia pay. NY/CA would be higher to compensate for having 2-4x the housing cost.

Quote
ive thought about IB myself but it does seem extremely demanding - possibly even shady/illegal? - but IB does have characteristics i like


i dont know of what's illegal unless you work for a shady company. but it absolutely is demanding. analysts (bachelor degrees) probably work 90-120h/week, and associates (mba) work maybe 70-110. you gotta deal with that 3-5 years making fairly small money (100-200k, which is small per hour) before you get promoted and make bigger money (400k-1m+). if money is what you want, then it's a good choice. but if you want a life, traveling, visiting weddings and getting drunk with your friends every friday night, then it's not a good choice.


it sounds like the program you listed isn't really a good fit for you if you have ambition to earn more money.

This post was edited by carteblanche on Dec 9 2015 05:16pm
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#13
Dec 9 2015 09:29pm
Quote (carteblanche @ Dec 9 2015 05:16pm)
i only have one friend worth 7 figures, but he only earns mid 6 figures per year. i dont know any jobs where there's a set path with a high chance of getting it. for example, to be a pharmacist, there's a really high chance you'll get it if you want. whereas most 7 figure jobs are the rarer got-lucky or c-family, both of which have small chances. the only one i know of would be investment banking, but i wouldnt recommend it unless money is worth that much to you. a lot of people get out of IB and into something like hedge funds, which pay mid 6 figures instead of 7 figures, but more tolerable lifestyles. I'm actually semi-interested in being a workaholic and going down that path, but honestly money isn't worth very much to me, which is what's holding me back.


any half decent coder with a few years experience can do this. if i wanted, i could quit my job right now and get that. if you're not familiar with an average programmer's career, i'll briefly sum it up:
4 titles: junior, mid, senior, lead. after the lead position (~30 years old), you'll be faced with a decision: stay technical (mostly contracting) or go to management. there are some hybrid positions like architect, and some companies have more/less titles, but this is the general guideline.

right now i'm 26 at senior level. so i've only got one more promotion left before i have to make the decision, but i can switch to contracting at any time. i've been looking into it more and i keep thinking about whether to switch or not. there are pros/cons to employee/contractor. you can ask for details if it interests you.


it is weird for me. I started full time @ age 26 (as junior)

I think I want to transition to the architectural side and lead a team at some point, but not sure if that'll be around 30 :p
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#14
Dec 9 2015 09:43pm
Quote (Eep @ Dec 9 2015 10:29pm)
it is weird for me. I started full time @ age 26 (as junior)

I think I want to transition to the architectural side and lead a team at some point, but not sure if that'll be around 30 :p


wanna take off our dentures and tell stories of the good ole days? you old man.
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#15
Dec 9 2015 10:43pm
Quote (carteblanche @ Dec 9 2015 10:43pm)
wanna take off our dentures and tell stories of the good ole days? you old man.


BACK IN MAAHHHHHH DAAAYYYY WE DIDN'T HAVE NO FANCY COMPOOTERS BOY I TELL YE HWAT
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#16
Dec 10 2015 05:54am
Quote (carteblanche @ Dec 9 2015 06:01pm)
i meant c-level, sorry. CEO, COO, etc


i think you missed the point i was trying to make. the point is coders are for younger people, 20s/30s. senior dev in mid-late 20s is normal. some careers start with fairly high pay and top off really quickly, like pharmacists, where you make 100k starting salary, but you dont really get promotions or raises. coding starts off middle ground (40-60k), then very quickly increases to 90-120k, then tops off. if you wanna earn more than 120k or so, the only way to do that is to quit coding and go into management or become a contractor and find your niche. in my area, a typical java developer charges around 70-80$/hr contracting (the 60k/6months i mentioned earlier). you can find specialized fields and earn up to 300$/hr if you're willing to. as a general rule, the more specialized your niche is, the shorter your contracts are. you won't be at the same company for 5 years 40h/week charging 300$/hr. you might have a 2 month contract, then you gotta find a new client. for reference, when i acquire new skills and switch to contracting, i'm hoping to charge in the 100-125$ range. these are georgia pay. NY/CA would be higher to compensate for having 2-4x the housing cost.



i dont know of what's illegal unless you work for a shady company. but it absolutely is demanding. analysts (bachelor degrees) probably work 90-120h/week, and associates (mba) work maybe 70-110. you gotta deal with that 3-5 years making fairly small money (100-200k, which is small per hour) before you get promoted and make bigger money (400k-1m+). if money is what you want, then it's a good choice. but if you want a life, traveling, visiting weddings and getting drunk with your friends every friday night, then it's not a good choice.


it sounds like the program you listed isn't really a good fit for you if you have ambition to earn more money.


i want the work to have a value ... besides just the $$ but the life/traveling thing I doubt will ever be what I truly want all the time. I have never traveled anywhere but am itching a bit to do some (primarily to just a few bigger cities I suppose but I think there is nothing out there I may want besides just sight seeing)

as far as what I want in regards to life - just eating what I want and exercising ... I may be making excuses but my jobs wear my out emotionally and cause me to be a bit lazy with exercise at times
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