What’s your latest salary goal and why?

Question

I’ve I always had a goal to hit $150k by age 27 and now that I’ve hit that goal, my newest salary goal is to hit $250k by age 35.  This has to do with a number of reasons. It’s not just a random number, it aligns with what I should be making with the title and expertise that I’ve forecasted for myself. I added the age goal to help benchmark it for me. What’s your current salary? Do you think it’s fair with your career path? And what’s a salary goal you’re aiming for in the future?

Flossy · Answer

Impressive and Congratulations!  How much of that are you saving?  Are you making out your 401k or retirement plan?  Saving additional money?   I would add a net worth goal by the time you are 30 -35-40.   Why?  Too many prople making serious salaries have nothing in the bank..  It’s  a leveraged Jenga stack.  Check out the FIRE movement financially independent people that can retire early.

J.S. Roman · Answer

First, Congratulations to you and I wish you all the success! That is really inspiring, so thank you for sharing because it gives me hope. 
I got laid off 4 times in a 5 yr. period; I worked in marketing and each company that laid me off (in a list): 
1. hired 3 men to replace me. (pay was $45K)  
2. used old tech ( I literally cut pictures and glued them to a page for the designer) and i was sexually harassed by the VP. (paid $52L) 
3.  let me go because she was old, (86) and did not know how to train me in her antiquated system. (pay was $50K)  Snow bunny used me to run the office when she left for Arizona. 
4. decided to trim the entire Legal department (about 60%). (pay was $63K) 
So, I went back to school and changed careers in my late 30's, (I was 37) and I'm happier/less stressed, but not making anywhere near what I set for myself at age 27! 
When you do change careers (i'm in the Legal industry now), you realize that you must start from the bottom again.  Currently, I started at $50K, but just recently received a 20% increase because I've worked my tail off.  My future salary for my career path that I hope to make is $125-150K. Its not about money anymore to me. It's about investing; in myself and in my personal life, living with less and maximizing my savings. If you are relying on a company for your livelihood/pay, just make sure you have healthy savings! You never know where life takes you.

Anne Claudel · Answer

As others mentioned, for some, salary alone is not a target.  Salary coupled with balance and time to enjoy the salary is what matters to me. Just over $150,000 to work half the year is working pretty well for me at the moment.

Anonymous · Answer

Wow that's impressive!  Congratulations on meeting the first goal.  I would love to know what line of work you're in and also what your plan is to increase your salary by more than 60% in only 8 years.

surfnwrite · Answer

I imagine you have to work pretty hard at 27 to make that kind of money. Good for you. I have different aspirations where flexibility and a laid back atmosphere is a more important commodity, so l settle for a more modest salary and more freedom.

Anonymous35 · Answer

Good for you! I am 35, single and barely making 50k! I am trying to see if I can go back to school and jump on a different career path in life. I work in a field with very few women... The pay gap is no joke.

Anonymous · Answer

My husband and my goal is that we have large investments that kick out enough income that we won't actually have to work, or at least not work as hard as we do now in our 30s. The time horizon for this would be early 50s.

Erin Beemer · Answer

What industry do you work in and what area of the world? Congrats on meeting your goals! :)

Anonymous · Answer

Me and my husband want to be $1MM net worth by 35... we shall see!

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