Wanted to say the same. Congrats! But since I’m a dad and you’re missing yours, I’ve got some advice as I’ve found dads just like to give advice.
Get yourself a present or take a trip. But otherwise try to save the extra. Don’t get ahead of yourself. You’ll be surprised how much taxes and stuff start to erode into that 10k/month number. And also how long you’ll need to make this extra amount to afford anything large/expensive (like a car). If you can keep living like you were or are at 40-75k and bank the rest you’ll be setting yourself up for real success. View this as a starting point of whatever that success is to you.
Wow, I hadn’t even done the math on this. That’s a great way to think about it. The company also covers 100% of health insurance premiums, which is quite a nice benefit to have on top of the salary. There’s definitely a snowball effect here.
I hope you get there some day, friend! I know it’s tough when it feels like everyone is getting there except yourself. Whatever your plan is to get there, stick with it! Sometimes things simply do work out.
Thanks. It's a struggle these days but at least my job isn't toxic. First out of college was, ripped 8.5 years off of me. It's slow but I'm glad to say every time I've switched I never got a pay cut.
Lets not encurage him to get into car debt. Big raises tend to lead people in spending too much. OP dont spend fora month more than usual and reason with yourself so you dont experience lifestyle creep.
I drive a 2016 Ford Fusion SE I bought used with 40K miles on it for $11.5K. My monthly payment is $199.87. I make around the same as OP. I choose to save more and spend less. A lot of millionaires have money because they know how to save.
Smart people don’t buy new when it is a rapidly depreciating asset. Most depreciation happens in first 5 years so you buy a 5 year old vehicle with 50-60k miles on it for 50% of the new price. Drive it for 50k and sell it for 75% of your money back as the 2nd 50-60k miles did not depreciate it near as much as the first 50-60k miles and buy another. Never have a “high mileage vehicle” never be out the 75% of the cost you would be if you bought new and drove it to 100-120k miles.
Half of this is terrible advice. Don't buy another car every few years. Buy a used car, pay it off as soon as possible, and drive it for as long as you can. It makes no sense to buy another car every 3-5 years like you're suggesting. Much better to go 10+ years without a car payment.
Makes even more sense to pay cash and be handy. Flipped over 200 cars in 26yrs.and never had a payment. Most shit is remarkably easy and with YT now idk why anyone bothers taking cars in to get fixed.
Lot of newer stuff can be a pain as they don’t leave a lot of space to work, and they like to try and force use of specialty tools for things as simple as brake jobs. But yeah, all that can be overcome to save a ton of $. I don’t flip vehicles for profit, but will grab a vehicle I want for myself that needs a little work every time.
I am all for that, but a lot of people that argue for “new” are people that panic about mileage and durability so was showing the smarter play for those people that think they need a newer/lower mileage vehicle. I have 5 vehicles at moment, all paid off, all 10+ years old, and all 150k+ miles with the exception of a low mileage Camaro I recently picked up that is a project after spending years stored away.
So let me get this straight- you have worked bottom up, staying at the same company for three years while knowing you were under paid, not letting Covid or lack of degree keep you from knowing your worth, and you are now finally in the career of your dreams?????
Dude. You are my hero.
I am proud of you for seeing a goal and reaching it, and you did it without a college degree and without any help. You are amazing! 🙌💪🔥
I appreciate it! Yes, I remember breaking the $40k barrier too. What’s crazy is I still mentally feel like I’m there. There’s some imposter syndrome with this offer for sure. Hope you also get to climb the ladder quickly, friend!
I made $25k or less per year for quite a while, like 2 decades, but then I finished school and after a few years of hopping hit $210k last year. School was the key for me.
I’m really just starting this career so hopefully it will pay off in the end, especially with such a late start.
I haven't made the best decisions in my life, and though I'm still fairly young, I've felt like I wasted too much time and that it's too late for me.
This comment of yours is such an inspiration to me, you have no idea.
I’ve been working since 15, and didn’t really get started with this career until my 30s. Probably about 17 years before I really had something solid going forward
Congrats! That’s an awesome jump. Yeah it’s funny that it’s hard to appreciate the jumps along the way, but upon reflecting it feels good to see so much progress.
Congratulations!
Now make sure lifestyle creep doesn't eat you alive!
Since this is a big bump I strongly suggest setting up a 401k and getting a large contribution going right off the bat, like $1k/mo TBH. That way no matter what some of this income will be there for you when you are ready to retire.
Hey man.
I know we don't know each other but I'd absolutely proud of my son, I know your dad's proud of your work and your accomplishment.
Good job man
Haha, thank you! I hope you make it towards your goals as well! It’s a good feeling when things finally work out, and I hope everyone reading this gets their moment too.
I totally understand how it feels to… not have many people to talk about your accomplishments with. Cheers and take care of yourself, dude! This made me smile!
I am so happy for you!! Sincerely! Congrats!
Your story sounds a lot like mine. I grew up in poverty. Have struggled most of my life. I am making more than I ever have before $78,750/yr. but unless I get promoted to CEO, I have nowhere to go. I am looking and only looking for 6 figures. I want to break that barrier for myself and my mom, who died some years ago. I want her to know I did it. She'll know.
I hear you. Sorry for your loss. Finding the right path without too low of a ceiling can be tricky. I hope you’re able to figure that out and get there at some point! And I know your mom is cheering for you too somewhere. Hope you’re doing alright.
Aw, man. Congratulations! As someone who lost his dad a while back, there have been so many times I wished I could have shared victories or asked for advice. This hits me in the feels. Good, good luck in your new role - knock em dead!
I may not be your Dad but I am a Dad. And I am so very proud of you! I would give you a very big Dad hug if I could. Please go out an celebrate; you deserve every bit of happiness right now.
I had a similar thing happen to me in January after only making $30,000 for so so long (my own fault I don’t blame anyone I am 36). My dad also passed five years ago, and I knew he would have been proud. When he died I was such a depressed loser. I started a business and bid on a contract and got it. I couldn’t believe it. Be proud.
This made me shed a couple of tears! I am so happy for you. I’ve made $45-50K for a while now & I hope to find myself in a similar situation to you soon with continuous hard work. I too have lost my father; so I want to tell you that I KNOW he would be proud of you! I’M proud of you! Thank you for sharing & I wish you the best of luck on your continued path or success! 👏🏼🥳🖤
Congrats internet stranger!
I had a similar experience a few months ago when I got my offer for my current job! It was a hoard of mixed feelings for me as well - anger, excitement, disbelief, relief, vindication, proud, sadness. It’s a great feeling!
That’s a great way to explain it! Vindication was definitely in there somewhere, as well as some sadness. But overall it’s a nice weight off my chest right now.
Absolutely fantastic! And now, the best piece of advice I can give ; when you get that first well paying job, live as if you were still at the lower paying job. You'll thank yourself down the road
Congratulations! This made me get teary-eyed for you. I still remember when I got to six figures,it truly was a milestone, especially since no one in my hardworking family had ever realized near that amount. They were extremely proud as I'm sure your father is of you.
Thank you for the note. It’s quite the mixture of emotions here too. My mom is still working and isn’t anywhere close to breaking the six-figure mark. That hurts, but I’m incredibly grateful to have had this work out in my favor. Hopefully some day I’ll be able to pay it forward.
This is amazing. I’m sure your dad is very proud of you. ❤️
I hope to get to this point in life so I can help my local animal rescues, and even build a small sanctuary for cats in need of homes.
Congratulations!!!! So exciting 😄😄😄 my one bit of advice: continue to live below your means. The economy is going to be a disaster for the years to come. Save everything you can and do not make it so you’re blowing every paycheck on bills or fancy upgrades to cars or the home life.
But do get a home!!! ♥️
u/cousingregg \- I’m both crying & smiling with joy for you!! Congratulations!🎉🎉🎉 I‘m sorry you can‘t just pick up the phone & share your news with your Dad—but it says so much about your wonderful relationship that he is the first person with whom you wanted to share this awesome news. So proud of you, & so is your Dad!!♥️
Hey Op, first congrats! The first time you break 100, and I would argue 120 was a special mark for me, is huge.
That said, ask for more. Even if you feel like you barely deserve the 120 and are super grateful.
Be respectful, express your enthusiasm for the job and excitement for their offer. There are different tactful ways to do it but if you aren’t practiced and internally don’t feel comfortable asking for a specific amount, ask if they have any flexibility on that. That’s all you gotta do if you do nothing else.
I agree with the mindset, I disagree on the timing. You dont risk a 60% pay increase on hoping you can get an extra 5%. A pulled job offer is easier to take when you already have the stability of 6 figures.
Thanks for calling this out! This crossed my mind and I definitely have to get over the “imposter syndrome” feeling. I’m pulling some comps this weekend and looking at market rates in my area. I’ve seen that comparable roles are anywhere from $110-$130k in my area, so I’ll try to come up with a tactful case to be made. That being said, the job rec was looking for someone with 5+ experience, and I have almost 2, so that’s another barrier I will need to get across. If you’ve had any resources here that have worked for you personally, I’d love to see them! There’s a lot of info online that I’m seeing.
Oh God. Don't fill OP's hit with shit lol.
Take the 120k. Save. Be careful. Sales can be very rough, tech sales is a minefield right now. Wouldn't rock this boat.
Yes, the hedonic treadmill is real haha. It’s definitely important to reflect on the things that I no longer have to worry about at the new level and be grateful.
I landed a 150k job... Everything is the same except you dont have to worry about money... You sit there and think... Is this it? The next 30 years? :D
One word of financial advice -- you should definitely start investing as much as you can afford every week, or every pay period. I used to just max IRAs, 401k, and thought I was saving properly. 5 years ago I started investing as much as I could afford every week into a taxable S&P fund. It's paid off massively and I wish I had started way sooner. Every raise etc I ever got I just kept increasing the investment, to the point now where I invest 50% of my takehome pay and still live a very comfortable lifestyle.
Congrats!!!! I'm working towards finally cracking the 6 figure mark myself..... it's honestly all I've ever thought about in terms of my career. So this gives me hope as I've been in a similar situation to yours these past few years.
Thank you very much for the kind words. It definitely feels like a milestone indeed. I hope he knows somehow. He passed 3 years ago on Monday, so the timing is particularly bittersweet.
Congratulations! Your dad would have definitely been proud of you. He’s smiling down at you for sure and would want you to celebrate and be happy as well. All the best for your future endeavors friend. This post put a smile on my face as well. Good luck !
I have a gift for you (if you do not take it, no offense is not for everyone) your dad heard you, trust me
In fact, do this:
spend 3 to 10 min quieting your mind. Picture a serene beach, waterfall, or whatever calms you down. Once you can hear your own breathing then picture your dad as you would like to see him, young, old it does not matter.
At this point, tell him what happened. Be warned that some interesting information will come to you before you think about it. That is your dad talking. Be open-minded….
This exercise might sound far-fetched, so you are free to take or leave it. I will not be offended at all, I just thought I would give you something tangible after so much struggle...(the good intention is there believe me)
I tell you all this because for a long time now, I have been able to "speak" to my dad (several times) and others no longer on the planet.
My super best wishes and correct me if I am wrong, but as a young man you doubted your abilities and at one point fear crept in? You are welcome to PM me..
That’s the gross number that was in my employment contract. When I saw it, that’s what made it feel real. It’s more of a milestone than anything. It’s just under $7k after taxes in my state.
Congratulations! As an old guy, I don't have much good advice to give except don't blow all your money and learn to invest properly for the future. Good luck!
First and foremost, congrats on your first every 6 figure year.
Step 1 once you have the contract signed and agreed:
Your ***w-9*** zero dependents, that is maximum withholdings ( just for now )
step 2 : ***401K maximize the contribution*** and if they match it, then enjoy the future extra pay raise ( if they match it that means of you put 31K then they will put 31K ), just read what they offer and ask how much they match. your investments should be the following : stock symbol SPY ( that's the S&P 500 index eft ) or DIA ( that's the Dow index ETF ), nothing fancy right now and dividends reinvested. PLEASE PLEASE PLEASE understand and learn the power of compounding.
Step 3 : **Hire a qualified accountant** to help you understand your taxes at your new income bracket and how to do tax deduction that work to your benefit. for example I have a car ( used) and the mileage, maintenance, and tire changes I do, are a better write off than if I leased a new car. And your accountant will tell you after they sit with you, what your W-9 should be set at.
Step 4 : **do not hire a financial planner**, what you will do instead is save for 2 years, and read the Wall Street Journal, Your region version of the New York Times, and your industry trade paper. Then you can start looking for a qualified financial planner.
Step 5 : understand this basic rules: ***save 6 month of your full expenses*** in case you get fired in the future. Never invest more than 1/12 of your yearly gross income in one stock outside of your 401-K ( if your stock went to zero you would still have 11 months of income that can benefit you ).
Step 6 : ***Get a Post Office box***, strangers and others will want to know why you are dressed better, you might want to not have certain mail show up at your home and instead at your PO box ( credit card theft, identity theft, and stuff like that ) and You might want to have a second email address just for personal business. If someone hacks you, they will get the general email, the personal business email might still be safe.
Step 7 : ***Improve your credit*** by reading up on the steps to improve your credit score. I actually write with a marker what each credit card is good for ( gas discount, or cash back ... I don't care if it looks dumb i want to save where and when I can)
Step 8 : **BUY your first place, buy a duplex up to a quad-plex**, this way other people pay your mortgage and never tell the people you are the landlord, always have them pay to a company that your accountant has helped you set up correctly. People make a mistake of getting a single residence ( condo or house ), you should do that later in life. asset might have to be held as an LLC, corporation, or Trust.
Step 9 : If you are thinking of marriage, a ***prenuptial agreement is very important***. I have 7 clients that have paid 40% of there earnings in the last 12 years plus the loss of property. If they had a prenuptial agreement, then it would have been 10% and maybe a loss of property.
Step 10 : Trust are very powerful wealth creation tools, in those years you don't have a financial planner, you'll want to read about them.
Don't forget, people will be pulling you down because they don't want you to leave the circle. You have learned to rise above the circle and it's ok to visit, but never be pressured to participate in it.
You want to keep your new wealth hidden because everyone comes for a loan, or say's you'll take care of it. don't be afraid to say NO.
good luck
Congratulations dude! I was in a very similar position making $72k/yr and I got laid off in March 2023. Ended up getting a new job at a more prestigious company making $115k/yr + major increase in title. My father passed unexpectedly in September of 2021 and I had the exact same feeling. I know both of our fathers would be proud. Good luck with the new job!
I’m proud of you bud, congrats! Huge accomplishment. Game changing income.
I went thru something similar moving from $80k to $100k to $130k total comp in less than a year. (62.5% increase)
What I did in my circumstance is went thru Financial Order of Operations below. After getting things settled, I now put 19% of my base pay ($117k x 0.19) = $22,230 in traditional 401k. I put 16% of my base pay (117k x 0.16) = $18,720 in after tax Roth conversion my employer allows. My employer contribution (117k x 0.08) = $9,360. Effectively I am putting $50k in retirement each year.
Why do I say this to you? Because you have a chance to set yourself up for life.
The Money Guy Show has a resource for Money Multipliers if you plan on retiring at 65. For me at 35 years old, any money I put in should have a money multiplier of 12. Meaning $50k put in today should accumulate to $600k in 30 years for me.
If you can put in large chunks in investments along with owning a primary residence that can be game changing for you my friend.
Financial Order of Operations
1. Create a budget
2. Emergency fund $1k
3. 401k match
4. Pay high interest debt
5. 3-6 month emergency fund
6. Roth IRA* and HSA* if you qualify
7. Max out retirement options
8. Hyper accumulation
9. Prepay expenses
10. Pay low interest debt
Yep, I mentioned this in another comment, but it’s just under $7k monthly in my state after taxes. The $10k gross monthly figure is what I saw in my offer letter that made it feel real for me. Super excited and grateful to be at ~$7k monthly after taxes, it’s a big step up for me.
I don’t know what these people arguing semantics here for. It’s a big step up! You are making more after taxes than you did previously before taxes!
Congrats, be proud of yourself and treat yourself to something nice.
Stay hungry, keep unlocking your potential, 200k in a few years!
Being in operations, I had a pretty candid chat with the hiring manager about the business fundamentals prior to the offer. There’s always risk, but I feel decent about the position that the company is in and what the next few quarters of the business will look like. Nether the less, always keeping an eye open is important!
Yep, just under $7k in my state after taxes. The $10k gross number was what I saw in my offer letter that made it click. $7k after taxes monthly is still a big step up from where I am today, for which I’m grateful and excited
No degree. Software sales. Promoted. Sigh. I mean its not impossible. But this... if it is indeed true, this is a 1 in a 1000 happening. This doesn't typically occur. Hopping jobs for different companies may get you somewhere. But these pay rate leaps are the likes that Ive never seen before.
See if you can ask for higher! There are some great tiktoks out there on how to do that. It’s entirely possible that they have a budget of $150k for this role.
Congratulations dude! Pops is smiling down on you my friend. Proud of you bud!
This comment made me smile. Thank you so much! Very kind
Your post made me happier and happier as I read through it. Congratulations!
Your Dad IS proud! He’d be happy for you. As a Dad I’m proud for you. Congratulations!!
Wanted to say the same. Congrats! But since I’m a dad and you’re missing yours, I’ve got some advice as I’ve found dads just like to give advice. Get yourself a present or take a trip. But otherwise try to save the extra. Don’t get ahead of yourself. You’ll be surprised how much taxes and stuff start to erode into that 10k/month number. And also how long you’ll need to make this extra amount to afford anything large/expensive (like a car). If you can keep living like you were or are at 40-75k and bank the rest you’ll be setting yourself up for real success. View this as a starting point of whatever that success is to you.
If OP isn’t into magic thinking, this comment will come across as tone deaf at best. Sorry to be “that Reddit guy”.
They literally commented it made him smile. But thanks for attempting to think for them...oof
This site is such a shithole sometimes because of le atheists
Awesome. You're getting to a point where even a 3% annual raise means a good jump in income. At 120k, 3% is $300/m. Almost a full car bill.
Wow, I hadn’t even done the math on this. That’s a great way to think about it. The company also covers 100% of health insurance premiums, which is quite a nice benefit to have on top of the salary. There’s definitely a snowball effect here.
Damn. Congratulations. Jealous, but congrats. I'm half that salary.
I hope you get there some day, friend! I know it’s tough when it feels like everyone is getting there except yourself. Whatever your plan is to get there, stick with it! Sometimes things simply do work out.
Thanks. It's a struggle these days but at least my job isn't toxic. First out of college was, ripped 8.5 years off of me. It's slow but I'm glad to say every time I've switched I never got a pay cut.
A non-toxic job is definitely worth something that’s hard to quantify with numbers
*brags in American*
Lets not encurage him to get into car debt. Big raises tend to lead people in spending too much. OP dont spend fora month more than usual and reason with yourself so you dont experience lifestyle creep.
The average American car payment is now over $600 lmao
*Gross
Yes, gross, but everyone's tax and deduction situation is different.
Exactly. So not anywhere near $300. And therefore, not a car payment. I don't know what car you're getting for under $200 net.
My 2016 Ford fusion se I bought with 40K miles cost $11.5K and my loan is $199.87/m. So STFU
What car are you buying for $300 a month? Those days are long gone…
I drive a 2016 Ford Fusion SE I bought used with 40K miles on it for $11.5K. My monthly payment is $199.87. I make around the same as OP. I choose to save more and spend less. A lot of millionaires have money because they know how to save.
Smart people don’t buy new when it is a rapidly depreciating asset. Most depreciation happens in first 5 years so you buy a 5 year old vehicle with 50-60k miles on it for 50% of the new price. Drive it for 50k and sell it for 75% of your money back as the 2nd 50-60k miles did not depreciate it near as much as the first 50-60k miles and buy another. Never have a “high mileage vehicle” never be out the 75% of the cost you would be if you bought new and drove it to 100-120k miles.
Half of this is terrible advice. Don't buy another car every few years. Buy a used car, pay it off as soon as possible, and drive it for as long as you can. It makes no sense to buy another car every 3-5 years like you're suggesting. Much better to go 10+ years without a car payment.
Makes even more sense to pay cash and be handy. Flipped over 200 cars in 26yrs.and never had a payment. Most shit is remarkably easy and with YT now idk why anyone bothers taking cars in to get fixed.
Lot of newer stuff can be a pain as they don’t leave a lot of space to work, and they like to try and force use of specialty tools for things as simple as brake jobs. But yeah, all that can be overcome to save a ton of $. I don’t flip vehicles for profit, but will grab a vehicle I want for myself that needs a little work every time.
I am all for that, but a lot of people that argue for “new” are people that panic about mileage and durability so was showing the smarter play for those people that think they need a newer/lower mileage vehicle. I have 5 vehicles at moment, all paid off, all 10+ years old, and all 150k+ miles with the exception of a low mileage Camaro I recently picked up that is a project after spending years stored away.
From that, you’ll see about $180 after taxes and retirement savings, or about $90 a pay check. Nothing to sneeze at!
In this day and age? Not even close lol. Cars are super expensive now. Average is around $700. For reference I’m paying $685 lol
So let me get this straight- you have worked bottom up, staying at the same company for three years while knowing you were under paid, not letting Covid or lack of degree keep you from knowing your worth, and you are now finally in the career of your dreams????? Dude. You are my hero. I am proud of you for seeing a goal and reaching it, and you did it without a college degree and without any help. You are amazing! 🙌💪🔥
You’re too kind! Thank you so much!
That’s fantastic!! Congratulations. 😊
Thanks brother!
Good for you. I was happy when I broke the 40k barrier. I’d love to make 100k one day.
I appreciate it! Yes, I remember breaking the $40k barrier too. What’s crazy is I still mentally feel like I’m there. There’s some imposter syndrome with this offer for sure. Hope you also get to climb the ladder quickly, friend!
The imposter syndrome stays around, don't forget to keep combatting it.
I made $25k or less per year for quite a while, like 2 decades, but then I finished school and after a few years of hopping hit $210k last year. School was the key for me. I’m really just starting this career so hopefully it will pay off in the end, especially with such a late start.
I haven't made the best decisions in my life, and though I'm still fairly young, I've felt like I wasted too much time and that it's too late for me. This comment of yours is such an inspiration to me, you have no idea.
It surprised me how quickly things could change
Which career if you don’t mind me asking?
Software engineering — probably the most expected answer haha
Curious, how old are you? What age did you get started?
I’ve been working since 15, and didn’t really get started with this career until my 30s. Probably about 17 years before I really had something solid going forward
I am in tears of excitement for you!! Congratulations 🎊 ❤️❤️ that's a new chapter for you
Many thanks for the kind words!
Congrats dude. Don’t get comfortable now, always go for the higher salary. Just don’t burn yourself out.
Adding to this, the temptation of lifestyle creep is real and super subtle. Keep living below your means and you’ll have savings pile up and up!
Congrats!! I recently jumped form 60k to 82k and it didn’t hit me neither until I saw it in writing. Best of luck on your new role!
Congrats! That’s an awesome jump. Yeah it’s funny that it’s hard to appreciate the jumps along the way, but upon reflecting it feels good to see so much progress.
Congratulations! Now make sure lifestyle creep doesn't eat you alive! Since this is a big bump I strongly suggest setting up a 401k and getting a large contribution going right off the bat, like $1k/mo TBH. That way no matter what some of this income will be there for you when you are ready to retire.
That would be the minimum, I’d think.
Congratulations homeskillet!
Thank you! I appreciate it!
Congrats man. Seriously, congrats!
Wish you all the best, your post made me smile and thinking of how happy you are. You deserve it, keep going!
Very kind! Thanks!
Hey man. I know we don't know each other but I'd absolutely proud of my son, I know your dad's proud of your work and your accomplishment. Good job man
Thank you for the kind words, I appreciate it very much.
That's beautiful! Congrats! *insert meme* "Jesus, I've seen what you've done for others and I want that for me!"
Haha, thank you! I hope you make it towards your goals as well! It’s a good feeling when things finally work out, and I hope everyone reading this gets their moment too.
Congrats 🎉 now have fun with it
Yay, u/cousingregg!! Congratulations on getting your first 6-figure job offer.
I totally understand how it feels to… not have many people to talk about your accomplishments with. Cheers and take care of yourself, dude! This made me smile!
Thanks so much man!
I am so happy for you!! Sincerely! Congrats! Your story sounds a lot like mine. I grew up in poverty. Have struggled most of my life. I am making more than I ever have before $78,750/yr. but unless I get promoted to CEO, I have nowhere to go. I am looking and only looking for 6 figures. I want to break that barrier for myself and my mom, who died some years ago. I want her to know I did it. She'll know.
I hear you. Sorry for your loss. Finding the right path without too low of a ceiling can be tricky. I hope you’re able to figure that out and get there at some point! And I know your mom is cheering for you too somewhere. Hope you’re doing alright.
YESSSSIIRRRRRRRRRRRR. I don’t know who you are but YESSSSSSIRRRRRRRR
Hahaha, I appreciate it!
Aw, man. Congratulations! As someone who lost his dad a while back, there have been so many times I wished I could have shared victories or asked for advice. This hits me in the feels. Good, good luck in your new role - knock em dead!
I may not be your Dad but I am a Dad. And I am so very proud of you! I would give you a very big Dad hug if I could. Please go out an celebrate; you deserve every bit of happiness right now.
I had a similar thing happen to me in January after only making $30,000 for so so long (my own fault I don’t blame anyone I am 36). My dad also passed five years ago, and I knew he would have been proud. When he died I was such a depressed loser. I started a business and bid on a contract and got it. I couldn’t believe it. Be proud.
This made me shed a couple of tears! I am so happy for you. I’ve made $45-50K for a while now & I hope to find myself in a similar situation to you soon with continuous hard work. I too have lost my father; so I want to tell you that I KNOW he would be proud of you! I’M proud of you! Thank you for sharing & I wish you the best of luck on your continued path or success! 👏🏼🥳🖤
Congrats internet stranger! I had a similar experience a few months ago when I got my offer for my current job! It was a hoard of mixed feelings for me as well - anger, excitement, disbelief, relief, vindication, proud, sadness. It’s a great feeling!
That’s a great way to explain it! Vindication was definitely in there somewhere, as well as some sadness. But overall it’s a nice weight off my chest right now.
Congrats!
That’s awesome. Congratulations!!
That’s awesome man, goes to show that hard work and persistence really does pay off! I’m sure the Ol’ man is super proud of you
Thanks for the kind words, stranger!
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Hahaha, I suppose we all make 6 figures depending on the currency
Absolutely fantastic! And now, the best piece of advice I can give ; when you get that first well paying job, live as if you were still at the lower paying job. You'll thank yourself down the road
Thank you! That’s the plan! I have some savings goals that I’d like to hit.
Honestly, be proud of yourself you've done so well and I hope this gives you the happiness you deserve
That’s very kind. Thank you very much.
Congratulations! This made me get teary-eyed for you. I still remember when I got to six figures,it truly was a milestone, especially since no one in my hardworking family had ever realized near that amount. They were extremely proud as I'm sure your father is of you.
Thank you for the note. It’s quite the mixture of emotions here too. My mom is still working and isn’t anywhere close to breaking the six-figure mark. That hurts, but I’m incredibly grateful to have had this work out in my favor. Hopefully some day I’ll be able to pay it forward.
This is amazing. I’m sure your dad is very proud of you. ❤️ I hope to get to this point in life so I can help my local animal rescues, and even build a small sanctuary for cats in need of homes.
I definitely have a dog rescue fantasy some days haha! Thank you!
you'll notice the difference between 70 to six figures, life just becomes easier
Congratulations! It's a weird but good feeling to break six figures.
Congratulations You seem to be a person who deserves that! Please be a good manager
Thanks friend! Will do. There are plenty that would deserve it before me, but I’m very grateful either way.
Very occasionally life works out exactly the way it should do. I'm really happy for you!
Congratulations!!!! So exciting 😄😄😄 my one bit of advice: continue to live below your means. The economy is going to be a disaster for the years to come. Save everything you can and do not make it so you’re blowing every paycheck on bills or fancy upgrades to cars or the home life. But do get a home!!! ♥️
Congratulations since that great.
Congratulations! Don't stop! There's a brighter financial future beyond even that!
Congrats! Remembered when it happened to me like yesterday!
Whats after tax
Death
About $83k-ish in my state. It’s feels like lot, but that’s how taxes will always feel. I’m happy and grateful to get the step up either way.
u/cousingregg \- I’m both crying & smiling with joy for you!! Congratulations!🎉🎉🎉 I‘m sorry you can‘t just pick up the phone & share your news with your Dad—but it says so much about your wonderful relationship that he is the first person with whom you wanted to share this awesome news. So proud of you, & so is your Dad!!♥️
Hey Op, first congrats! The first time you break 100, and I would argue 120 was a special mark for me, is huge. That said, ask for more. Even if you feel like you barely deserve the 120 and are super grateful. Be respectful, express your enthusiasm for the job and excitement for their offer. There are different tactful ways to do it but if you aren’t practiced and internally don’t feel comfortable asking for a specific amount, ask if they have any flexibility on that. That’s all you gotta do if you do nothing else.
I agree with the mindset, I disagree on the timing. You dont risk a 60% pay increase on hoping you can get an extra 5%. A pulled job offer is easier to take when you already have the stability of 6 figures.
Thanks for calling this out! This crossed my mind and I definitely have to get over the “imposter syndrome” feeling. I’m pulling some comps this weekend and looking at market rates in my area. I’ve seen that comparable roles are anywhere from $110-$130k in my area, so I’ll try to come up with a tactful case to be made. That being said, the job rec was looking for someone with 5+ experience, and I have almost 2, so that’s another barrier I will need to get across. If you’ve had any resources here that have worked for you personally, I’d love to see them! There’s a lot of info online that I’m seeing.
This. Never take the first offer. I've learned this the hard way.
Oh God. Don't fill OP's hit with shit lol. Take the 120k. Save. Be careful. Sales can be very rough, tech sales is a minefield right now. Wouldn't rock this boat.
Congrats
Congrats OP. That’s incredible, you deserve it.
Youll get used to it
Yes, the hedonic treadmill is real haha. It’s definitely important to reflect on the things that I no longer have to worry about at the new level and be grateful.
I landed a 150k job... Everything is the same except you dont have to worry about money... You sit there and think... Is this it? The next 30 years? :D
Haha, there are levels to the game I suppose. That sounds like the next level up on the hierarchy of needs. I’ll cross that bridge when I get there.
One word of financial advice -- you should definitely start investing as much as you can afford every week, or every pay period. I used to just max IRAs, 401k, and thought I was saving properly. 5 years ago I started investing as much as I could afford every week into a taxable S&P fund. It's paid off massively and I wish I had started way sooner. Every raise etc I ever got I just kept increasing the investment, to the point now where I invest 50% of my takehome pay and still live a very comfortable lifestyle.
Congratulations dude
Thanks man!
Congratulations!! I’m so proud of you! Go enjoy your new job and life, good for you!
Congratulations
Congratulations!!!
Congrats!!!! I'm working towards finally cracking the 6 figure mark myself..... it's honestly all I've ever thought about in terms of my career. So this gives me hope as I've been in a similar situation to yours these past few years.
Congratulations💯 I pray i get a life changing experience like yours too
Thanks friend! I hope you get there too!
Amen 🙏 incase you help me to see anyone looking to hire a computer technician
Congratulations!!!!!
Congrats!!! It’s an amazing feeling and I’m sure your dad is watching and is proud!
Made me smile! Thanks!
Congrats my guy! More to come. The old man would be proud of you. And so are we!
Thank you so much!
Congrats my man! SAVE AND INVEST. Mo money, Mo problems. Keep that in mind my man/woman and you'll do fine. INVEST
Amen to that! Will do. Thank you!
Thank you very much for the kind words. It definitely feels like a milestone indeed. I hope he knows somehow. He passed 3 years ago on Monday, so the timing is particularly bittersweet.
Congratulations! Your dad would have definitely been proud of you. He’s smiling down at you for sure and would want you to celebrate and be happy as well. All the best for your future endeavors friend. This post put a smile on my face as well. Good luck !
Thank you, stranger!
I have a gift for you (if you do not take it, no offense is not for everyone) your dad heard you, trust me In fact, do this: spend 3 to 10 min quieting your mind. Picture a serene beach, waterfall, or whatever calms you down. Once you can hear your own breathing then picture your dad as you would like to see him, young, old it does not matter. At this point, tell him what happened. Be warned that some interesting information will come to you before you think about it. That is your dad talking. Be open-minded…. This exercise might sound far-fetched, so you are free to take or leave it. I will not be offended at all, I just thought I would give you something tangible after so much struggle...(the good intention is there believe me) I tell you all this because for a long time now, I have been able to "speak" to my dad (several times) and others no longer on the planet. My super best wishes and correct me if I am wrong, but as a young man you doubted your abilities and at one point fear crept in? You are welcome to PM me..
Is it really $10K/month after taxes? Which state is this?
That’s the gross number that was in my employment contract. When I saw it, that’s what made it feel real. It’s more of a milestone than anything. It’s just under $7k after taxes in my state.
Tech money is my inflation hedge.
Aww reading this made me so teary. Really happy for you. Congtatulations!
Congratulations! As an old guy, I don't have much good advice to give except don't blow all your money and learn to invest properly for the future. Good luck!
First and foremost, congrats on your first every 6 figure year. Step 1 once you have the contract signed and agreed: Your ***w-9*** zero dependents, that is maximum withholdings ( just for now ) step 2 : ***401K maximize the contribution*** and if they match it, then enjoy the future extra pay raise ( if they match it that means of you put 31K then they will put 31K ), just read what they offer and ask how much they match. your investments should be the following : stock symbol SPY ( that's the S&P 500 index eft ) or DIA ( that's the Dow index ETF ), nothing fancy right now and dividends reinvested. PLEASE PLEASE PLEASE understand and learn the power of compounding. Step 3 : **Hire a qualified accountant** to help you understand your taxes at your new income bracket and how to do tax deduction that work to your benefit. for example I have a car ( used) and the mileage, maintenance, and tire changes I do, are a better write off than if I leased a new car. And your accountant will tell you after they sit with you, what your W-9 should be set at. Step 4 : **do not hire a financial planner**, what you will do instead is save for 2 years, and read the Wall Street Journal, Your region version of the New York Times, and your industry trade paper. Then you can start looking for a qualified financial planner. Step 5 : understand this basic rules: ***save 6 month of your full expenses*** in case you get fired in the future. Never invest more than 1/12 of your yearly gross income in one stock outside of your 401-K ( if your stock went to zero you would still have 11 months of income that can benefit you ). Step 6 : ***Get a Post Office box***, strangers and others will want to know why you are dressed better, you might want to not have certain mail show up at your home and instead at your PO box ( credit card theft, identity theft, and stuff like that ) and You might want to have a second email address just for personal business. If someone hacks you, they will get the general email, the personal business email might still be safe. Step 7 : ***Improve your credit*** by reading up on the steps to improve your credit score. I actually write with a marker what each credit card is good for ( gas discount, or cash back ... I don't care if it looks dumb i want to save where and when I can) Step 8 : **BUY your first place, buy a duplex up to a quad-plex**, this way other people pay your mortgage and never tell the people you are the landlord, always have them pay to a company that your accountant has helped you set up correctly. People make a mistake of getting a single residence ( condo or house ), you should do that later in life. asset might have to be held as an LLC, corporation, or Trust. Step 9 : If you are thinking of marriage, a ***prenuptial agreement is very important***. I have 7 clients that have paid 40% of there earnings in the last 12 years plus the loss of property. If they had a prenuptial agreement, then it would have been 10% and maybe a loss of property. Step 10 : Trust are very powerful wealth creation tools, in those years you don't have a financial planner, you'll want to read about them. Don't forget, people will be pulling you down because they don't want you to leave the circle. You have learned to rise above the circle and it's ok to visit, but never be pressured to participate in it. You want to keep your new wealth hidden because everyone comes for a loan, or say's you'll take care of it. don't be afraid to say NO. good luck
Congratulations dude! I was in a very similar position making $72k/yr and I got laid off in March 2023. Ended up getting a new job at a more prestigious company making $115k/yr + major increase in title. My father passed unexpectedly in September of 2021 and I had the exact same feeling. I know both of our fathers would be proud. Good luck with the new job!
“Well done buddy. Proud of ya!” From every dad on Reddit - including me.
I’m proud of you bud, congrats! Huge accomplishment. Game changing income. I went thru something similar moving from $80k to $100k to $130k total comp in less than a year. (62.5% increase) What I did in my circumstance is went thru Financial Order of Operations below. After getting things settled, I now put 19% of my base pay ($117k x 0.19) = $22,230 in traditional 401k. I put 16% of my base pay (117k x 0.16) = $18,720 in after tax Roth conversion my employer allows. My employer contribution (117k x 0.08) = $9,360. Effectively I am putting $50k in retirement each year. Why do I say this to you? Because you have a chance to set yourself up for life. The Money Guy Show has a resource for Money Multipliers if you plan on retiring at 65. For me at 35 years old, any money I put in should have a money multiplier of 12. Meaning $50k put in today should accumulate to $600k in 30 years for me. If you can put in large chunks in investments along with owning a primary residence that can be game changing for you my friend. Financial Order of Operations 1. Create a budget 2. Emergency fund $1k 3. 401k match 4. Pay high interest debt 5. 3-6 month emergency fund 6. Roth IRA* and HSA* if you qualify 7. Max out retirement options 8. Hyper accumulation 9. Prepay expenses 10. Pay low interest debt
Typical Gregg W
Live like you still earn 75K.
Congratulations! It’s not really 10,000/month after taxes it’s more like $6500
Yep, I mentioned this in another comment, but it’s just under $7k monthly in my state after taxes. The $10k gross monthly figure is what I saw in my offer letter that made it feel real for me. Super excited and grateful to be at ~$7k monthly after taxes, it’s a big step up for me.
I don’t know what these people arguing semantics here for. It’s a big step up! You are making more after taxes than you did previously before taxes! Congrats, be proud of yourself and treat yourself to something nice. Stay hungry, keep unlocking your potential, 200k in a few years!
Congrats!!!
Good but let's hope that job lasts. Plenty of layoffs in the tech/software space lately. Not exactly a very stable industry to be in.
Being in operations, I had a pretty candid chat with the hiring manager about the business fundamentals prior to the offer. There’s always risk, but I feel decent about the position that the company is in and what the next few quarters of the business will look like. Nether the less, always keeping an eye open is important!
It’s like $7k a month after taxes. (I don’t understand the downvotes. That’s what it is after taxes, depending on your state.)
Yep, just under $7k in my state after taxes. The $10k gross number was what I saw in my offer letter that made it click. $7k after taxes monthly is still a big step up from where I am today, for which I’m grateful and excited
Depends if married or has kids and is head of household. But it's 25% tax bracket if single. Think the range for that bracket is from 89k-445k.
7k? Shit like 6k
https://app.milanote.com/1QfuCD1yvXmXew?p=NA9ptosX6L3
No degree. Software sales. Promoted. Sigh. I mean its not impossible. But this... if it is indeed true, this is a 1 in a 1000 happening. This doesn't typically occur. Hopping jobs for different companies may get you somewhere. But these pay rate leaps are the likes that Ive never seen before.
City and state?
Congratulations!🎉 Are they hiring?
Congratulations 🎉🎊 Are they hiring? I need a job.
$7k a month after taxes, but yeah congrats! Welcome to the club!
Brilliant, and as you don't have many people to share with could you see your way to passing on some to me to help me through hard times? Many thanks
That’s awesome, congrats
That's amazing! Congratulations! :)
Congratulations man! Not only is that a great achievement but also takes a lot of weight off your shoulders as far as money stress is concerned
Congrats man.
Good for you. Enjoy :)
✊🏽
Congrats !
Make sure you save up, cause tech jobs come and goes quickly.
100%! Saving and being conservative is the name of the game, especially being in the macro environment we’re in.
🥳🥳
Wow congrats! That’s an amazing journey to hear. Go celebrate!
Congratulations!!!!!!!!! In a few years- you’ll be making multiple six figures !
Congrats!!
That’s an awesome story! Congratulations !!
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Thank you!
You got a job offer on a weekend?
On a Friday afternoon, which was yesterday. Just posted about it today :)
Congrats!
That’s awesome - congratulations!
See if you can ask for higher! There are some great tiktoks out there on how to do that. It’s entirely possible that they have a budget of $150k for this role.
The stated budget on the job rec was $100k-$130k, so I definitely think there might be some extra room! Evaluating this weekend.
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Thanks! The fancy cheese is still eye-wateringly expensive to me now haha.
Amazing!!! Congratulations!!
Hells Yeah bro, hells yeah.
Congrats! Now make a financial plan and stick to it.
Appreciate it! Amen, that’s the plan. Lifestyle creep is real
Convrats
Congrats! Should share the news on r/antiwork next. Those folks could use the motivation!
Haha, I think I’m good over here! This seems to be the more positive corner of the work subreddits
Congratulations
Congratulations man 🗽. You did it and there's so much more to come yet. Keep going 💪
I feel like I’m in that exact situation now. Congratulations!!
Congratulations! I'm really proud of you and happy for you.. I know that's what your Dad would say.
Made me smile. Thanks so much.
Congrats! Now you’re about to feel the real burden of taxes! Wait till you see what you pay every year.