Are $500k+ jobs really that common?

[Anonymous]

Take out partner law or partner medical jobs, high level software, engineering finance/investment tied to bonus jobs, sales/commission jobs and business owners out of the equation because I know the ceiling is higher … I am talking like normal corporate jobs in marketing, research, accounting… are there really that many $500k salaries jobs for people who aren’t founders?

I had an interesting discussion with some friends and several people commented a $1million household income wasn’t that unusual or even very much for 2 working people in a household and that’s 500k salaries were fairly common. I had a few people say it wasn’t that much! We are in a run of the million UMC neighborhood, not a super wealthy area. I was a little shocked tbh.

[Anonymous]

Run of the mill UMC neighborhood - not rich.

[Anonymous]

No, not that common, nationwide. Maybe in the DC bubble, but that’s not representative.

[Anonymous]

We aren’t in DC, in a mid sized MCOL city

[Anonymous]

I’m just curious if people can give me examples of these jobs, again not ones tied to any sort of bonus or equity share.

Just standard salaried jobs making a true salary (not bonus) of that much is shocking to me.

[Anonymous]

$500K individual income is beyond the 99th percentile in the U.S. The opposite of “common.”

[Anonymous]

I think your friends are off and they don’t realize they are living in a bubble/self selecting a peer group. To me, the biggest indication that these salaries are hard to achieve is the near frantic way DCUM focuses on college, career, and dating for marriage - because the UMC path is specific, narrow, and they want their kids on it come hell or high water.

DW and I are HBS/HLS grads and the people we know making more than $500k individually/$1M as a couple include at least 1 of BigLaw, finance, FAANG, or hyper competitive medical specialty (so think surgeon, not dermatology, though that’s a hard one to get into).

And frankly, that just makes you a HENRY. People have to do those jobs 20+ years to really start accumulating 7 and 8 figure net worths

[Anonymous]

Anonymous wrote:$500K individual income is beyond the 99th percentile in the U.S. The opposite of “common.”

+1. The data doesn't lie.

[Anonymous]

sure, if you look at a $500k income nationwide, it is impressive and rare. In DC/NY/SF it's not terrible uncommon in certain zip codes.

Here are some avg incomes for zip codes in Bethesda/CC:

"The average household income ($321,268) for 20816 is less than the average household income for 20817 ($325,502), 22101 ($360,494), Brookmont CDP ($434,332), and Somerset town ($419,599)"

In Somerset or Brookmont, you are just above avg at 500k.

[Anonymous]

Anonymous wrote:sure, if you look at a $500k income nationwide, it is impressive and rare. In DC/NY/SF it's not terrible uncommon in certain zip codes.

Here are some avg incomes for zip codes in Bethesda/CC:

"The average household income ($321,268) for 20816 is less than the average household income for 20817 ($325,502), 22101 ($360,494), Brookmont CDP ($434,332), and Somerset town ($419,599)"

In Somerset or Brookmont, you are just above avg at 500k.

Yes but a lot of that is bonus money. Even most attorneys in the DC area do not have a 500k+ base.

[Anonymous]

Anonymous wrote:sure, if you look at a $500k income nationwide, it is impressive and rare. In DC/NY/SF it's not terrible uncommon in certain zip codes.

Here are some avg incomes for zip codes in Bethesda/CC:

"The average household income ($321,268) for 20816 is less than the average household income for 20817 ($325,502), 22101 ($360,494), Brookmont CDP ($434,332), and Somerset town ($419,599)"

In Somerset or Brookmont, you are just above avg at 500k.

The fact that rich people all live in close proximity doesn’t make being rich any more common.

[Anonymous]

If you’re in a midsize mcol city I’d guess people are inflating their income. The people in run of the mill jobs I know making these salaries will be in places like San Francisco and they will have lucked out with timing.

[Anonymous]

Pp here. Also, those would be mostly equity and bonuses if they lucked out and not base. I’m in one of those jobs (I don’t make 500k) in tech and my base is like 200 but in theory there’s unlimited upside with my bonus structure if the company blows up and I could get lucky with my small equity grant.

[Anonymous]

Your friends count their regular bonuses as part of HHI. At those levels the $ comes from bonuses. Few $500k salary jobs. No incentive besides getting fired to keep producing.

[Anonymous]

Anonymous wrote:$500K individual income is beyond the 99th percentile in the U.S. The opposite of “common.”

LOL