Lately I've been thinking about how, some people working in the big prestigious companies and roles e.g Management Consultants, can literally be pulling in $300k and more annual salary. Of course, they usually also have good background like good degree and grades, internships, experience, skills, performing well in interviews etc. that's why they got into their roles. But I'm over here only earning between 60-70k+ per annum in a finance job(but not prestigious or big firm) and I'm stuck wondering how am I ever gonna catch up to these people. I feel like I have to do business or sales, that's my only way.
Possible to be have very high income even with average degree and background?
byu/HomeHedgeFund inEntrepreneur
Posted by HomeHedgeFund
9 Comments
I upvoted. This is hilarious.
Lets say you are from the poorest street of india and never saw a school from the inside. If you just copy the actions of successful people for long enough, you will still become a multi millionaire.
The Game is rigged but also skill based, the reason why kids of rich people tend to become rich themselves is NOT because of the money they get. Its because of the skills they learn, the connections and the *need* to earn more money. They are surrounded by wealth, so the societal expectations they have for themselves is much higher. Surround yourself with people who have a lot more of what you want to have and your hunger will for ever grow.
From the personal (you) perspective: **Why do you need to catch up with them?** Who compels you to catch up with them? So, if you don’t catch up with them, your life is failure? If we follow this logic, then how sad the life’s of the people in the third world countries who earns barely 5k-10k per annum.
So the meaning of your whole life is to catch up with people above you? So after you get to earn 300k, you will then come back to Reddit again and ask the same question, “how do I catch up with the people who earn 1M?”?
From the objective perspective: **That’s simply just how the mechanism work**. It is a necessary logical consequence of Capitalism. You just need to study how the game works. And try as best as you can to beat it (if you want).
So is it possible? Yes, it is possible. But can you? and will you? would you? would you be willing to quit your job and study at library for 2 years, everyday, 12 hours a day, no sex, no girlfriend (because you try to save money), no burger, stay in cheaper apartment, etc. Would you dare enough to take the necessary gamble and risk?
Are you willing to go to Vietnam for example? Forgo all the comfort that you have now. Start from 0. Connect with local people. Serve them. Build trust and connections. Try to build business. While enduring all the loneliness and lower standard of living? Or are you looking for a quick cheat? where you can still have all the conveniences you have now, not having to quit the job, and yet somehow hoping there is a magic cheat code, where you within 1 year, can transform your situation?
$300k is not about been an entrepreneur if you work for salary.
It’s before tax money, after tax and in expenses you may get close to nothing.
Sales seems like a pathway where folks without prestigious degrees and backgrounds can make a lot of money fast
wait, why is it posted in r/entrepreneur?
Hey, don’t stress too much. You can still earn big with the right skills and hustle. Sales, business, or learning high-demand skills can level you up faster than just waiting around. Focus on growing yourself, not just chasing others.
Move into sales – become good (nobody cares for your academics/background as long as you sell). You can (in the US) bring home 150K+ with several people I know personally bringing in 250k+. It is a hard job with plenty of instability (if you miss quota, you are out) but thats partly why you are paid a fat comp.
I would surmise that in order to make big money you have to scale your labor which means employing other people. The reason managers and CEOs make so much money is because essentially that is what they are doing for the corporation they have scaled their labor with the employees they supervise. You can be an entrepreneur and scale your business with employees or you can do it through a corporation. If you expect to be in the production line and make big money then that will never happen because there is no scale to it. You are essentially selling your hours one unit at a time. Not even Doctors and Lawyers make out in that racket.