400k is not a lot to raise a family in the DMV, certainly not enough to afford a nice home, nanny, tuition. |
Listen, WE ALL LIVE here. 400K is “that high” anywhere. If you’re “just making it” with 300K household income it’s because you’re incompetent. |
It's not a lot in DC, especially if your kid attends private school. |
About World Bank and similar jobs, it’s very hard to get out, rest and get back in. Finance and development sector jobs are hierarchical. It took time for you to reach to a place where you are really putting your skills to use. If you leave the workforce in your prime to take care of family, you won’t come back to those key positions. So OP and like women have to keep it going. Academia is the same. |
NP but I just wanted to say that I appreciate the wisdom in this post. |
Agreed. If you are in your 40s and in DC, you know and understand this unless you are so myopic and self-important you refuse to see it. These jobs feel very sexy and interesting when you are 32 and you get to travel to cool places a lot and your work is policy-focused and feels very relevant to what is happening in the world. But unless you are one of the very, very few on a stratospheric rise to the kind of role where you are on the news all the time or publishing or getting political appointments, eventually you realize that the difference between these jobs and being in upper middle management at some private sector corporation making widgets or breakfast cereal? It's just a sliver of prestige and and extra degree. And the person at the widget company probably makes more, or lives in some midwest town where 400k means you are rich-rich. It may be disappointing to learn this for all us ambitious, over-educated, high minded DC professionals, but it turns out that yes, it's family and marriage and personal relationships and what you do outside of work that matters the most. EVEN when your job is Important in the way that some jobs in DC are important. You don't have to quit but you do have to learn that you can have the sexy, fun job with the international travel and the work drinks and dinners, or you can have the really stable, good home life and marriage. But you can't have them both at the same time. Especially not if you married someone with the same kind of job, and none of these jobs pay enough to afford the conveniences that would make it all mesh. So you pick. |
Have fewer kids, or don't send them to private school. How do people who are smart enough to get these jobs not understand basic math? It's not like it's a surprise to discover that these jobs at WB or IMF or in academia top out around 200k. And even if you didn't anticipate the recent increasing private school tuition, when you had your kids you knew that was going to be at least 20-30k/yr. But if you knew those things, AND knew what kind of lifestyle these jobs require, and you went ahead and had 2-3 kids without having a plan for school and childcare? Or if you didn't make very specific choices that would enable you to maintain this lifestyle (buying in an excellent suburban school district as soon as you could, setting aside money for childcare and private when you were still childless and had some savings to spare, etc.) that is your own fault. Many people who wind up in these jobs just come from money and that's how it works. They can afford to outsource more because their parents bought their house or they have a trust fund. Or they are married to someone who makes way more, a doctor or Big Law attorney who is making 400-500k on their own (or more), so they have the money to make their lives easier. It really just sounds like OP didn't pay attention to the details of how lives like this work and just plowed ahead assuming it would all work out. And now it actually pretty much has, but it's tougher than she expected because it turns out kids do, in fact, need parenting and her husband is a typical husband and does some but not the bulk of that parenting, and she is experiencing a pretty typical decline in libido after having several kids and dealing with constant work stress. She doesn't understand why getting exactly what she wanted isn't more fun, and it's because she made all these choices without running the numbers. That's her fault. |
And just like nobody cares about OP’s allegedly impressive job, nobody cares about your two masters degrees. Not even the one from HARVARD! |
Same here. Evenly distributed salaries, HHI almost $500K. Working from home (since COVID) has been a lifesaver for us. It happened to coincide with our kids being older so when our nanny moved to another state when her husband was deployed, we were able to keep things going without a nanny because we were both home and kids were more independent. HOWEVER, although we maintained cleaners, nanny had done all kid and bedding laundry, plus had helped shepherding kids to after school activities. I'm debating getting more of a house manager now who can help with laundry and driving kids around after school. OP what could you outsource to help? We have cleaners and a gardener right now, both of which I highly recommend. We like cooking so I can't imagine hiring a chef/ordering pre-packaged meals but we have friends who do and they're very happy. Would sending out laundry help? What else do you find yourself spending time on that you wish you didn't? |
don't send your kids to private school. |
Thank you. Well said. |
So only trust fund babies can afford to have a career in international development and academia? Fact is that poor kids are those can tolerate PhD journeys and value the opportunities of world bank/imf/academia, because 150k fresh from grad school is a lot of money to poor kids. Trust fund babies will not lift a finger for this low pay. |
No ones donating to Harvard anymore; it’s lost its way 10 years ago when it went too soft and woke. |
You care, because you keep posting. Thou dost protest too much. |
This. Go private sector if you’re such an over achiever Op. |