Nine secrets to earning $100,000
There's no easy way to $100,000 in annual salary. But people who have reached that milestone are offering some advice on how others can get there.
One user on the Reddit website put out a request for anyone making at least $100,000 a year. "What was the smartest decision you ever made?" asked someone going by the name of RicsFlair.
The question generated a wide-ranging discussion about what it takes to climb the career ladder. Some of the predictable responses were in there — work hard, do a good job and the like — but users did have some decent advice for anyone trying to make it in the world.
1. Don't burn bridges. One person didn't tell the boss what he or she really thought when leaving an old job. "Doing so opened a door for me several years later and got me to where I am now."
2. Learn how to negotiate a salary. Many websites and other resources will tell you what you should be earning for specific jobs and skills. "Salaries in any job market are highly variable, and who gets at the top end and who gets at the bottom end often comes down to good negotiation," wrote one commenter.
3. Be prepared to work a lot. Several commenters said the key to earning that much money is putting in many, many hours. One person said his father has an executive job at a hospital, but it has come at a cost. "I admire ... him for what he does and how well liked and respected he is by his peers and patients but I wish he would have been around more because I barely have a relationship with him."
4. Invest early to get the long-term payout. Pay for an education, even though it's pricey, one commenter wrote. Save longer to buy tools and clothes of better quality. Spend the extra time learning everything about your job, not just what it takes to get by.
5. Study something practical in college. "My issue is with the kids who go to college without a clear goal they wish to achieve with their education," wrote one commenter. "They major in something silly (liberal arts? seriously?) and don't specialize, seek experience, or train for a career, and then expect their degree to entitle them to 50k a year and a two bedroom house."
6. Build your reputation early. When you get your first job, you usually have the time to put in more effort outside of normal work hours. "I typically worked 50+ hours a week for the first four years or so and got great ratings over people who had been there longer but only put in exactly 40 hours and were out the door," wrote one commenter. "Better ratings at an early age meant bigger salary bumps. It works just like compounding interest."
7. Always push to climb the career ladder. "Keep pushing management and [human resources] to find out how you can move up and progress within the company," wrote one commenter. "Ask them what you can do to make yourself the ideal candidate for any positions up the ladder that may become available in a few years."
8. Be likeable. "Don't just go in and do your job and leave," wrote one. "Chat with people, be friendly, ask how your boss' weekend was, volunteer for charities through work, participate in a softball league or golf outing ... etc. Building a network of people within your company who like you will pay off later because those people might just be in a hiring position someday."
9. Have the right luck. Even when you do everything right, sometimes it just comes down to luck. "Hard work and all that is very important, but being in the right place at the right time is also important," added one user. "Almost all extremely wealthy people were blessed with the right idea at the right time with the right motivation."
-- Kim Peterson, MSN Money
Posted by: Kablargprime | Aug 9, 2021 12:28:55 AM
Plagiarized from Reddit. Nice job, you imbecilic writer.
Posted by: Rob | Aug 9, 2021 2:09:19 AM
The fact that they're even referencing Reddit as a credible source for this is a joke.
Posted by: Wise Woman | Aug 9, 2021 7:35:59 AM
Once again, a comment denigrating a liberal arts degree. Many employers offering white-collar desk jobs, especially in government, recognize the ability to research, analyze and write that comes from these degrees. Specifically where the writing is concerned, there's nothing worse than someone with a degree in a practical field who is inarticulate on paper.
Posted by: nlm | Aug 9, 2021 9:15:43 AM
Agree that the critical comment re: Liberal Arts was rather, well, not well thought out. It's not the subject matter but how you apply it. I would hire someone with a Liberal Arts degree that could write and communicate their analysis of a situation over an engineer that doesn't know how to communicate and is task oriented. I once had a summer intern that was in 4th year and didn't know anything about basic essay structure and hence couldn't write a report to save his job. We didn't bring him on board after he graduated.
Posted by: Mark | Aug 9, 2021 9:24:26 AM
Another fluff article of "how to get a certain salary" or "whats the highest paying jobs" but fail to mention EXACT specifics.
People who make $100k/year are most likely individuals with Ph.D.s, LL.B., MBAs, Eng. degrees, Doctors of Medicine, etc etc .... plus 15 to 20 years of direct experience in their field. The ones that do not, are close friends or family members of someone high up in a company that weaseled them into that position.
So if you dont fall into those two categories, you will never make $100k/year no matter what you do!
Posted by: Cory Mcquatt | Aug 9, 2021 9:42:06 AM
All of you seem to have forgotten skilled tradesmen. Every journeyman in the oil and gas sector makes 100,000 well before the year is up.
Posted by: Nijo | Aug 9, 2021 9:55:32 AM
When was the last time an executive had time to read a full report that was produced by an analyst? They want short 3-6 page exec summaries on powerpoint or a templated report with a 1 page exec summary so they can find the info they're looking for immediately, not some lengthy/wordy essay that's full of fluff. You can hire all the essay writers you want, but the fact is nobody in true decision and business influence levels has time to read those essays.
@Mark - that's not true at all, I have only 6 years experience, a Comp Sci degree, haven't turned 30 yet and make $100k+/year - as do many of my friends, as well none of us have family or friends high up in the companies we work for. We did this by working our butts off, putting in 60+ hours a week from day 1 and continue to today, taking initiative and refusing to just fall in line. We invested in ourselves early on by taking courses and doing projects outside of work that were related to our field; networking ourselves both within our companies and externally, and most importantly not accepting the status quo of the "traditional" career path (working like crazy for your boss, in the hopes that one day you'll get promoted).
Posted by: Bryan Jaskolka | Aug 9, 2021 10:49:24 AM
Wow, after just reading the title I didn't think there was a chance they'd all be able to fit into just 9 rules for how to make that much money. Turns out, I was wrong! This is such a comprehensive list, I'm actually surprised by how detailed it is. It's so much easier to talk seriously when it's not just another bullet list with vague points such as "Save as much as you can - every single year." Thanks so much for sharing!
Posted by: Ben | Aug 9, 2021 10:51:45 AM
The comment regarding Liberal Arts Degrees was blunt, but there is some truth to it. The engineer that could not write a formal report/essay is the exception to the rule. These days, most educated professionals are able to write well and articulate thoughts on paper. Here is the bottom line. The majority of engineers will be able to write "competently." No Liberal Arts Major will be able to perform the tasks of an engineer "competently." There is simply more demand for individuals with specialized skills, and literacy is no longer one of those things.
Posted by: Joanne | Aug 13, 2021 12:29:31 PM
Coming from the wife of someone who makes more than $100K/year... I can agree with the "Be prepared to work a lot" point. It took my husband several years and lots of evenings and weekends to get where he is now. Yes, we get a lot of perks with him making as much as he does. However, there is a huge sacrifice at home to get those perks.
Posted by: Joanne | Aug 13, 2021 12:31:13 PM
I'd also like to add that I agree - a Liberal Arts degree, I'm sure has it's advantages, however, it doesn't do the job when the company is looking for someone who is an Engineer.