Am doing the above now - except getting work to pay for a postgrad in accounting and a CFA, spending the 30k on a house. (I do have a fiance though who earns a decent amount, although spends a lot of it as well)
Somersoft 'Employee Salaries' Poll
- Thread starter JIT
- Start date
Am doing the above now - except getting work to pay for a postgrad in accounting and a CFA, spending the 30k on a house. (I do have a fiance though who earns a decent amount, although spends a lot of it as well)
So, after all that; would you care to tell us (JIT) just the salary figure?
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Hi LAA,
I reckon he did. I'm in the same boat in that my remuneration is made up of various components. I'm not quite in the $250K+ bracket, just a touch shy of that at the moment, but its made up of similar components to Oscar.
i.e. Base salary + performance bonus + super + expense allowance.
When you get into the mid six-figure salaries it tends to have a lot more non-base salary components built into it.
Cheers,
Michael.
Why is that? Is it because an employer doesnt need to pay super on non-base components, thus allowing them to seemingly offer more cash to an employee?
TB
I'm sure there are tax considerations as well, but at the higher salary levels the employer wants you to show more 'commitment' (read: they want to nail you to your desk). That means giving you your pay in ways that can be 'lost' or 'taken back' if you leave. This includes cars, restricted stock options, etc. At banks, for example, from VP (mid-level manager) onwards, part of your comp is in shares, and they don't vest for a few years. So if you quit you lose them.
Alex
I reckon I've given away enough already.
Suffice to say the higher up you get the more focus you place on your "variable" pay as that is where all the real potential is - in options, shares etc. When your base gets to some 50% of total remuneration it simply is not the main event any more.
In my figure I did not include stuff like super, comprehensive family health cover and other side benefits such Frequent Flyer points etc....
Anyway, my point was/is, it's pretty irrelevant what your salary is - it's what you save/invest that really counts. That should be the key take away for any newbie reading this.
Suffice to say the higher up you get the more focus you place on your "variable" pay as that is where all the real potential is - in options, shares etc. When your base gets to some 50% of total remuneration it simply is not the main event any more.
In my figure I did not include stuff like super, comprehensive family health cover and other side benefits such Frequent Flyer points etc....
Anyway, my point was/is, it's pretty irrelevant what your salary is - it's what you save/invest that really counts. That should be the key take away for any newbie reading this.
Pretty true;
In fact; a better poll would be: who is investing on a below average income. That's way harder than someone who's on anything above the average income.
I (and the low-earning newbies) would like to hear from the Coles check-out chick who's got an IP or two under her belt. They're stories worth hearing
I'm a bit tired of hearing from the higher earners arguing the toss over rent returns and different finances etc. It's all just academic mostly for us.
I've added my current. Expecting to jump to the next category in the short term, and if that dosen't work out I'll have to find a way to jump 2 categories!
Nothing to add other than I am extremely dissatisfied with my income (and job) and as an investor I should be a little bit more ruthless about it!!
Nothing to add other than I am extremely dissatisfied with my income (and job) and as an investor I should be a little bit more ruthless about it!!
Nivia
Yep started as a check out chick , after leaving ( or being asked to leave ?? ) school at around 14-15.
Very nice person , and an inspiration to many of the early forumities. Very successfull.....
Cliff Turner
Yeh know plenty of ppl earning 250k and 400k and still have no money in the bank and no real investments either. Its pretty scary.
I didn't vote either as I just resigned from the six figured salary day job.
People around here think I'm mad.
But we will be taking 800k plus from presold properties between now and July 08.
And I'm culling the non performing resi properties as well which will free up another 500k odd.
We started from a very low base in 2001 so I also agree that by focusing on investing you will speed up the process,
I don't reckon you can 'save' yourself to wealth.
KEvin
What blows me away is that two members here earn salaried incomes in excess of $3M pa. Thought those sorts of pay packets were for household name senior execs only like Sol Trojilo etc.
But who knows, maybe Sol frequents Somersoft?
Cheers,
Michael.
I'd certainly love to know who it is!
yes bit confused about the higher 'salaries'
Yes im a little confused - I would have thought anyone earning above 300k is either working in the financial markets or is an executive member of a large company (or similar). I think there is some confusion rgearding salries versus incomings from investments.
Yes im a little confused - I would have thought anyone earning above 300k is either working in the financial markets or is an executive member of a large company (or similar). I think there is some confusion rgearding salries versus incomings from investments.
eg IT contractor
170PH * 40hrs = 6800 less super say 6500 gross
46 weeks at 6500 = $299000 PA
Granted this is usually experienced PM, Architect but I know one great techie at a big bank on this rate.
pieman
