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Ask HN: What steps can I take to earn $250K+?

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Re: Ask HN: What steps can I take to earn $250K+?

#11
post #7

Where are you located? $250k in San Francisco for example with 10 years of experience is very doable. How? RSU's. Look for big and hot tech companies and that's it. If you're talking about $250k as a base salary, then I'd say forget about it unless you move into management. Even then, it would take you years to get there. If your wife starts working then your total monthly income will definitely make it easy for you…

Does RSU mean restricted stock unit?

My bad, I forgot to specify... Yes, Restricted Stock Units. A new grant usually vests over 4 years. It starts with your one year anniversary when 25% of your grant vest. Then after it's every 6 months you get 12.5%. Every year they may give you another round of RSU's (on a new 4 year vesting plan)

Re: Ask HN: What steps can I take to earn $250K+?

#13
Any of these companies will get you to $250k+ annual compensation in 0 - 3 years, depending on your current experience.

Tech:

- Google

- Facebook

- Salesforce

- Bloomberg

Finance:

- Renaissance Technologies

- DE Shaw

- Citadel

- Two Sigma

Since you're already on the East Coast, if you're presently located in - or can easily relocate to - the NYC metro area, getting hired at one of these companies is probably the most straightforward path to that goal. Entrepreneurship and consulting can also get you there, but that's a less straightforward path. These aren't the only companies either, mind you, these are just the ones I'm personally familiar with.

Particularly towards the financial side of things, it wouldn't be outlandish to earn significantly more than that in first year compensation if you're placed on the right team. Considering you already have a decade of experience and a graduate degree in computer science, if you do well on the interview I'd estimate you'd reach your goal somewhere between immediately and 1.5 years in.

Re: Ask HN: What steps can I take to earn $250K+?

#14
To restate your goal: It is to be able to easily afford to raise a family. The 250K is all relative.

If you still think you need $250, search for the Highest COL area, (like switzerland etc) and get a job there.

If you desire to raise a family, then I would recommend

1) find a low Cost Of Living area and try to find a job there. You will take a paycut, but try to make it loss less than the COL delta.

2) when comparing COL be sure to plug in what you really spend money on. Back 25 years ago I was going to move from Orlando to Raleigh, but the company offer said the COL delta was enough of a raise (10%). Researching the data used, it was true, if I smoked 2 packs and drank a quart of whiskey each and every day. Otherwise the cost of living was equal.

3) Re examine what you think you need to raise a family and what you really need. If you do, you will find you can live on a lot less.

Over the years people talk about this person or that person being rich. And how they need to pay more in. Odds are if you are reading this, you are rich. If your choice each day is: what do I want to eat, followed by where can I find that food - then you are rich. If your plan is to eat something at home, or maybe buy at the store and then fix it at home - then you are middle class. If you are not sure if you can afford to eat, and not because you are too lazy to get the food - then you are poor.

Re: Ask HN: What steps can I take to earn $250K+?

#17
Start by looking around you and look at who is making 250k+. You'll see that they have control of a lot of resources relative to those that don't. They also have more responsibility than those that don't. Also, some bring in more cash to the company than those who don't. If they get paid 250k then they bring in at least that much in profits, directly or indirectly. So look for those jobs and aim for them. You'll need to plan your strategy to get from now to the job you want. Get the education you need or the experience you need. If it's experience you need then look for it in your company or move to another that will give you the experience.

Always look for a job that will bring you one step closer to your goal. Start to move up the ladder. Are you a programmer? Then look for a higher level programmer job. Do you want to be a CTO? Then start managing teams. Remember experience is more important than pay. If it's a move up then low pay for that position is ok for a time. As you gain experience you can get a higher paying job somewhere else.

Network, you need to make sure you're comfortable and friendly with management. If they know your skills and you then they are more likely to move you up or even recommend you for a new position. Also, look for friends that are already doing the job you want. Join organizations where you are likely to make the right contacts.

Be ready to move, having a broad area to search for a job makes it easier to get both pay and experience. Also, the higher the pay then the lower the number of jobs that pay the higher wage.

You can also go the consulting route. 250k regular job with benefits is about $250/hr as an independent consultant but it's harder to continuously get companies that will pay that. Also, technology shifts and it's harder to always be the expert that companies want to hire at that range.

Re: Ask HN: What steps can I take to earn $250K+?

#18
Step 1: Move to Seattle and find a job there. Purchasing power there is 38% higher than NYC. We'll say that your salary stays at 150k, but you'll realistically feel like you have 38% more. (Source: https://www.numbeo.com/cost-of-living/compare_cities.jsp?cou...)

Step 2: Buy a house in Tacoma. Don't buy in Seattle; the market there is in a bubble. Tacoma is an up-and-coming suburb. Cost will be ~300k for a livable house, or 400k if you want a nicer one. (Example: https://www.zillow.com/homes/for_sale/Tacoma-WA/49299981_zpi...).

You'll have an hour commute but that's not too bad if you're used to east coast commutes and traffic. If you buy a house close to one of the train stations, you can take the commuter train to downtown Seattle so you won't have to drive.

Step 3: Save as much as you can for kids' college/retirement/whatever.

Sounds pretty livable to me.

Re: Ask HN: What steps can I take to earn $250K+?

#19
I was in your situation a couple years ago and I doubled my salary. Identify an essential but unmet need in your organization. Satisfy it. This makes you essential, but also demonstrates you can manage yourself, execute and provide strategic value. Renegotiate compensation. Rinse and repeat.
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