How much can people really earn?

[jcwc888]

Software engineers and computer science firms (top-tier) on 100k.

May i know the firms you are talking about here? I have worked or have colleagues in most of these handful firms which are left now due to consolidation and i think the norm is more like 55k. They may hit 100k in 3 years time but not in the 1st year straight out of uni doing their Bachelors.

I was an IT grad (top tier firm) couple years ago..but no way it is 100K. Unless you were doing SAP (million dollar CRM product) which is also unlikely being you would not have that experience.

Anyway who pays someone 100K straight out of uni must be crazy. they jsut dun have enough experience to command such salary.

 

[RumpledElf]

That's nice, a slab of the population earns $100k before 25.

What about the hairdressers, childcare workers, cleaners, shelf stackers, farm hands, ditch diggers, nurses, social workers, bus drivers, teachers etc, some of whom are lucky to have peak earnings over $30,000? And it is not just students at uni doing these jobs, there are plenty of adults that have only ever done these kinds of jobs and have no real hope of ever becoming anything 'better', which is the usual advice given to anyone who doesn't earn enough to afford a house.

Unless everyone is willing to pay $500 for a haircut and $50 for a carton of milk to support the lowest of the low, the median income in this country is always going to be a fraction of what these high earners make. And suppose hairdressers etc suddenly started earning $100k? I'd wager all these investment bankers are on $400k.

 

[sue78]

deltaberry - i think maybe in ur circle of friends but other it's not that uncommon. Youngsters tend to be more in debt than have any wealth/equity.

a lot of my friends have yet to hit 6 figures. they also spend money on travelling, taking a year out to do post grad, paying off loans etc

To get into the top 5 firms inc onsulting, well it's not easy. You have to grad at the top of your class and you can advance without a postgrad.

In accounting firm, to get above $60k you would need either many years of experience or at least professional qualifications like CA, CPA and u also need that for managerial positions.

However, lots of my friends are on 6 figure combined income.

My bils are both on 6 figures and quite youngish in late 20s. One of them is very close to making partner at big 5 which is a huge achievement for under 30 and the other is very high end in Tescos. The single one is enjoying life and the other one has a lot of responsibilities as he has 3 kids, mortgage, 2 cars etc he's the sole income earner too.

Oz is very expensive in many ways compared to other countries. The amaericans thing $39.95 for buffet at 5 star Bellagio Hotel is expensive when buffets usually cost $10.

But everyone is o money obsessed. I understand if you are struggling but if you are happy, have most things but still yearn for more....anyway money is esay come easy go.

Reminds me of the great depression and wall st collapse. Lots of new wealth then people lost everything, could not cope and committed suicide.

Yes there are lots of rich chinese but the past year has been tough for them. Even then the divide is huge...the poor are so poor in china, rich is just a verys mall minority. Even my friends are thinking twice of buying designer handbags this year as their husband's companies are not turning a profit. Ofcourse they probably still have several millions stashed awa for teh rainy day.

 

[jaycee]

So let's say at 200k pa, 48 weeks/yr, 90 hrs/week... that's $46/hr.

At say 100k pa, 48 weeks/yr, 90hrs/week... $23/hr.

Not impressive at all.

I think they call this stupidity!

But, he is erning $200k pa at the end of the day

Most other people who cll htis stupidity settle for a job paying $23/hr, do their 36.75 hours and then complain that they don't have not enough money. Thats more unimpressive for me.

Someone's got to do the work.

 

[natmarie73]

I can't remember who said it - might have been Kiyosaki - that the more people who can do your job the less you'll be paid. I think that's pretty true for most jobs.

Hairdressers in my town can command high prices because the demand way outstrips the supply - simple 2 hr foils and trim in someone's spare room can cost up to $150 and the few hairdressers there are are always booked solid.

I know for a fact that industrial hygienists can earn up to $400k per year they are that in demand and the job isn't rocket science either.

 

[Ace73]

I can't remember who said it - might have been Kiyosaki - that the more people who can do your job the less you'll be paid. I think that's pretty true for most jobs.

I'm pretty sure Kiyosaki said that as well and its very true. But on that note I don't think those clowns that have been running some of those Banks in the US deserve those huge salaries. A trained monkey probably would have achieved a better result.

I know for a fact that industrial hygienists can earn up to $400k per year they are that in demand and the job isn't rocket science either.

Wow please tell me which companies are paying industrial hygienists $400 k per year as I'm going to change careers.

 

[sash]

Lets also keep it in perspective.....the people on 200K pa are in job which could dissapate quickly.

I have a reasonable 6 figure income..and now do not concentrate on getting payrises.

Last year no pay rises were given due to the GFC.....yet I made more out of rental and CG that year. Acutually in reflection I made almost 3 times my salary.

I am increasingly seeing the young ones push hard to climb the ladder. The funny thing is that they are couple of them in higher positions than me and they get less in salary. The have yet to understand that organisations will focus on profit....and working harder does not always equate to larger pay increases. As result I concentrate more on my second job (property investment) these days.

I am also happier for it.

 

[Rooster]

Lets also keep it in perspective.....the people on 200K pa are in job which could dissapate quickly.

Let's not generalise either.

Not all people on 200k pa are in a job that is going to dissapate quickly either.

Cheers

Rooster

 

[natmarie73]

I'm pretty sure Kiyosaki said that as well and its very true. But on that note I don't think those clowns that have been running some of those Banks in the US deserve those huge salaries. A trained monkey probably would have achieved a better result.




Wow please tell me which companies are paying industrial hygienists $400 k per year as I'm going to change careers.

You'll have to ask the AIOH as I got the information from them. I'm presuming they are consultants. Our newly graduated IH turned down an offer of over $150K for various reasons which he didn't go into so who knows what he's getting. Not bad for a 22 year old.

 

[cloudyday]

I usually find the people in high income jobs are more in demand. Take for instance one of our senior contract programmer, we hired him for 2 months and during this time frame he was paid $40,000 USD to work on backend stuff. He was always busy. Reason why? Skills.... He could probably come up with a Facebook, Flickr clone given enough time. The simple reason why we hire him is because it would probably take 5 people to do what this guy does in the same amount of time, but with less bugs, errors etc.

I think he's only 23 or so and does this as his side job, he's main job is at Yahoo.

Many of the people on high income are "usually" worth their weight... Not always of course

If you're not on a high income, maybe it's time to open a book, read more, get a degree? learn a new skill? etc?

 

[RumpledElf]

If you're not on a high income, maybe it's time to open a book, read more, get a degree? learn a new skill? etc?

Or get a job. I don't have one of those. On a breeding break at the moment, but at some point I'll be back online to help finish off our project that should make conservatively $US250k+ PA. The catch? Have to finish it, and then sell it to 2000 people

 

[Shaneelastic]

I usually find the people in high income jobs are more in demand. Take for instance one of our senior contract programmer, we hired him for 2 months and during this time frame he was paid $40,000 USD to work on backend stuff. He was always busy. Reason why? Skills.... He could probably come up with a Facebook, Flickr clone given enough time. The simple reason why we hire him is because it would probably take 5 people to do what this guy does in the same amount of time, but with less bugs, errors etc.

I think he's only 23 or so and does this as his side job, he's main job is at Yahoo.

Many of the people on high income are "usually" worth their weight... Not always of course

If you're not on a high income, maybe it's time to open a book, read more, get a degree? learn a new skill? etc?

I find your post very disrespectful. Not all people can do that.

Judging by your written language, maybe you should go back to uni and do a refresher in English.

May I ask, what do you do?

 

[Shaneelastic]

That's nice, a slab of the population earns $100k before 25.

What about the hairdressers, childcare workers, cleaners, shelf stackers, farm hands, ditch diggers, nurses, social workers, bus drivers, teachers etc, some of whom are lucky to have peak earnings over $30,000? And it is not just students at uni doing these jobs, there are plenty of adults that have only ever done these kinds of jobs and have no real hope of ever becoming anything 'better', which is the usual advice given to anyone who doesn't earn enough to afford a house.

Unless everyone is willing to pay $500 for a haircut and $50 for a carton of milk to support the lowest of the low, the median income in this country is always going to be a fraction of what these high earners make. And suppose hairdressers etc suddenly started earning $100k? I'd wager all these investment bankers are on $400k.

Totally disrespectful to hairdresses and dairy farmers, retail people. These are people in society you are talking about. Hope you never have to work in one of these lowly rated jobs.

 

[RumpledElf]

Totally disrespectful to hairdresses and dairy farmers, retail people. These are people in society you are talking about. Hope you never have to work in one of these lowly rated jobs.

Lowest of the low INCOME. If you actually look at what people do, and how useful they are to society, farmers and check out chicks actually do a lot more useful work than, say, investment bankers. Imagine a world without farmers? The pay scale almost seems inverted at times, and overall the most recent professions seem to get paid more than the older ones. Probably should have clarified that.

Pay scale for the world's oldest profession is all over the place though and you could argue for a long time about how useful that profession is

 

[Shaneelastic]

Lowest of the low INCOME. If you actually look at what people do, and how useful they are to society, farmers and check out chicks actually do a lot more useful work than, say, investment bankers. Imagine a world without farmers? The pay scale almost seems inverted at times, and overall the most recent professions seem to get paid more than the older ones. Probably should have clarified that.

Pay scale for the world's oldest profession is all over the place though and you could argue for a long time about how useful that profession is

Thanks for clarifying

 

[cloudyday]

I find your post very disrespectful. Not all people can do that.

Judging by your written language, maybe you should go back to uni and do a refresher in English.

May I ask, what do you do?

At no point did I say someone earning a low income was lousy. I just said if you're not happy with your income, "open a book, read more, get a degree"

With the tone of your message, looks like you're in the low income bracket. Nothing wrong with that Just don't get upset if people are just telling the facts.

Hope you never have to work in one of these lowly rated jobs.

It's pretty funny how you're such a hypocrite, in one sentence you blast me about being disrespectful to low income earners when I clearly wasn't, and then immediately after that you label me stupid. Maybe I'm not Australian? maybe I had to learn 3 different languages? Why make these stupid assumptions?

FYI, I have a double degree, and no it wasn't English, I only passed in that subject. However, judging by your posts there are lots of spelling mistakes, perhaps you need a refresher at university or grade 12?

A big instittion was recently flogging the fact that you could keep them open for the 2 years and 2 days.

Do some research and try and fnd this. May be of help if you relied on the advice

Certifiicate for in financial services (mortgage Broking), 2-3 day workshop or distance education. Go the workshop though.

150-200K i thinbk is a fair for a MB who has been established for a few years, remember the trails will build your income up over time

Hows this for a bargain.
2 people goign to gold coast next august.
All up including flights from melbourne and 7 nights in a 4 star resort, the per person price is $235.

I bought a travel voucher for $30, then booked the accomodation.

If you recieved the FHB grant, dont declare any rent to the tax office, or claim any interest, you could be in more **** then.

Then again, maybe you're still studying? Noticed you pay board to your parents

 

[pieman]

Take for instance one of our senior contract programmer, we hired him for 2 months and during this time frame he was paid $40,000 USD to work on backend stuff. He was always busy. Reason why? Skills.... He could probably come up with a Facebook, Flickr clone given enough time. The simple reason why we hire him is because it would probably take 5 people to do what this guy does in the same amount of time, but with less bugs, errors etc.

40k US for 2 months is not much for some gun programmer I would have thought. Im an infrastructure guy and charge similiar for producing documents that no one seems to read

 

[cloudyday]

40k US for 2 months is not much for some gun programmer I would have thought. Im an infrastructure guy and charge similiar for producing documents that no one seems to read

$240k USD/year for side projects is pretty good imo. He prob makes another $200k+ from his main job.

 

[Shaneelastic]

At no point did I say someone earning a low income was lousy. I just said if you're not happy with your income, "open a book, read more, get a degree"

With the tone of your message, looks like you're in the low income bracket. Nothing wrong with that Just don't get upset if people are just telling the facts.



It's pretty funny how you're such a hypocrite, in one sentence you blast me about being disrespectful to low income earners when I clearly wasn't, and then immediately after that you label me stupid. Maybe I'm not Australian? maybe I had to learn 3 different languages? Why make these stupid assumptions?

FYI, I have a double degree, and no it wasn't English, I only passed in that subject. However, judging by your posts there are lots of spelling mistakes, perhaps you need a refresher at university or grade 12?











Then again, maybe you're still studying? Noticed you pay board to your parents

1), I'm not on a low income. I do have respect for low income earners though, something I still believe you do'nt have as you have accused me of being on a low income.
2) I know I make alot of spelling mistakes on this. I'm on a my little 8inch notebook whilst on holidays.
3) Yeah I do live still live with my parents. At 26 it may seem old, but there are some extremley personal reasons for this which i dont care to discuss with you and has nothing to do with $$

What do you do for a living after getting your double degree?

 

[Peter Parker]

Why not refer to some hard numbers, such as the spreadsheet presented here:

http://www.abs.gov.au/AUSSTATS/[email protected]/DetailsPage/6523.0.55.0012005-06?OpenDocument

(it's above the forum's attachment limit so you'll need to download)

Even counting it being a few years old some interesting conclusions can be drawn, eg:

* Contrary to some discussion here, high income households are (almost by definition) a small minority of all households. Individuals (especially young) with six-figure incomes are exceptions rather than the rule. Some people here have sheltered lives and are out of touch with the incomes the majority make. Households with 6 figure incomes though are much more common due to multiple earners.

* Private renters are across all income groups, with a slight increase at the bottom end. Govt/housing commission renters are all bottom end.

* Wealth is not always related to income. Low income households often have quite high wealth - presumably age pensioners who own their $300-800k home.

It should be noted that the above relates to 'how much do people really earn', whereas the thread title is 'how much can people really earn'. This is based on description of reality. Evidence of actual earnings is best when we look at what IPs to buy and whether they're cheap enough to provide an acceptable yield to us while being affordable to the tenant.

The latter is based on aspiration and enterprise, which can also become a reality. But only for a minority otherwise average incomes would be much higher.