Typical American Career path - esp after 50

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op, do you want to work? I'm not quite 50 yet, but retired. I can't imagine having to think about second career. Maybe retirement hobby job.

Definitely interested in your retiree by 50 path if it really was that easy.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Accounting and Audit is a great career. Back in the days of SOX I was Big 4 and visited 23 states and three countries doing Audit work.

In my 8 years I worked at maybe 100 clients and while on trips I always go to a ball game, got to a club, find best restaurant in town, go sightseeing. The work itself was not exciting but the people aspect was amazing.

My Daughters friend started at PwC out of school in 2022 with a 100K base and a 10K sign-on. If she stays by 34 if Partner could be making $700k.

And she started with 4 year degree. Plans on part time taking courses to hit 5 year rule to sit for CPA and make PwC pay.

How come I was only sent to Bufflo NY and Delaware on projects lol. And I got counseled out at year 4 despite high ratings 👻

Like any client facing role, you have to be attractive and able to sell services. If you were just a competent accountant that’s the breaks?

Ah I see!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I earned a lot more money after 50. Became a licensed CPA at almost 48. Now there is an accounting shortage. Timing is everything.

Yes! Such a big accounting shortage. I hired a couple 50 yr old former SAHMs in the last couple years. It’s a good career path

I wish I had gone for accounting.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I earned a lot more money after 50. Became a licensed CPA at almost 48. Now there is an accounting shortage. Timing is everything.

Yes! Such a big accounting shortage. I hired a couple 50 yr old former SAHMs in the last couple years. It’s a good career path

I wish I had gone for accounting.

It’s part of the life hack of going into finance. Even though it is the least sexy job, it’s still part of the finance sphere. Any regular role at a bank pays better in finance, not quite as good as tech but it’s way less volatile

[Anonymous]

Anonymous wrote:

Anonymous wrote:I guess I don’t understand where this endless supply of young workers is coming from. The generations are getting smaller. The boomers were a massive generation but went on to have significantly fewer kids. And millennials are having even fewer. And college got more expensive so fewer are going.

I have no doubt my company would love to not pay my perimenopausal ass my $250K salary and instead pay a 28 year old $80K. But it’s not happening cause they haven’t found that unicorn.

I absolutely agree ageism exists, but I think just saying all companies want to magically hire and have a company full of young people is not totally realistic.

There are more college graduates than ever, and we are hiring illegal immigrants for the jobs high school grads used to fill, and paying them way way less to boot.

I’m talking about knowledge workers. The companies being talked about on this thread, tech companies, consulting firms, etc. are not hiring illegal immigrants to do professional jobs. There’s just way too much vetting going on. I get that there are plenty of jobs in this country that can be done by illegal immigrants, but not the ones that we’re talking about.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I guess I don’t understand where this endless supply of young workers is coming from. The generations are getting smaller. The boomers were a massive generation but went on to have significantly fewer kids. And millennials are having even fewer. And college got more expensive so fewer are going.

I have no doubt my company would love to not pay my perimenopausal ass my $250K salary and instead pay a 28 year old $80K. But it’s not happening cause they haven’t found that unicorn.

I absolutely agree ageism exists, but I think just saying all companies want to magically hire and have a company full of young people is not totally realistic.

There are more college graduates than ever, and we are hiring illegal immigrants for the jobs high school grads used to fill, and paying them way way less to boot.

I’m talking about knowledge workers. The companies being talked about on this thread, tech companies, consulting firms, etc. are not hiring illegal immigrants to do professional jobs. There’s just way too much vetting going on. I get that there are plenty of jobs in this country that can be done by illegal immigrants, but not the ones that we’re talking about.

My point was the immigrations is pushing more and more native born to go to college, where in the past they could have had a decent paying job as option with just high school degree. It’s the monkeys in the bed, rolled over effect. Unless we dramatically increase hiring of knowledge workers (and AI is starting to work against that, see Klarna), we have too many college graduates for too few roles.

Maybe they can’t find someone to work your particular job, but you have to have a rarified skill to protect your turf (what do you do that you think a young person can’t?). At $250k, could two $80k graduates do your job — that’s a risk two, maybe with aid from AI or offshore labor?

[Anonymous]

We just fired a sr. Mgt who at that level gets LTIP, higher bonus pay and higher salary and replaced two one level lower people that will combined make that one person salary.

So not about cost savings just doubling work output

If you have a set budget for staff some places can hire more or less pay. And some people places higher title means more vacation time, bonus and LTIP

And sadly that Oder higher paid workers some companies give more vacation days based on age and some places let sick days pile up.

My last job I quit on my own in June and Tiger on purpose dragged the replacement till after Oct 1 so no bonus that year new hire and hired someone 25 years younger. My whole bonus went back in bonus pool plus my unvested RSUs back in the pot.

My new job I can see it happening again but I don’t care as I am 3-4 years from retirement. But when retiring I will wait till I get bonus in April then maybe use up some vacation days May and June and maybe retire July 5th

Or I stay till they lay me off and collect unemployment and some severance. We only give two weeks per year but that includes two weeks per year health insurance.

But sad part we have a lot of 60-70 old people doing barely anything waiting to get canned as some at work 10-25 years

[Anonymous]

Anonymous wrote:I’m keenly aware of ageism - and how it intersects with misogyny -in the workplace. I’m 38. I’m a manager working with executives and plan to persistently pursue the executive level, where I expect I can be - and will have the stamina to maintain - until I’m 55 or so. Pre-corporate I was a yoga teacher, and plan to open a studio a year or two after retirement from corporate, but frankly my goal is to make as much money as possible as quickly as possible so I don’t have to worry (as much) about the future.

It’s also helpful that my DH is a senior IC with a very niche tech skill and will always have employment - he makes in the lower 200s and might top out around 300. Which is good. But I want to make really, really big money. As I see it, 10-15 years of balls to the wall work is worth being able to finance college, retirement, down payments for kids etc. (No family money, no inheritance.)

All of that said, it is weird and f***ed up how prevalent ageism is in America and how little we do to protect ourselves; how much power we cede to “the man.” Maybe with the agitation and machinations of Gen Z - who literally could NOT care less - these crappy workplace practices will change. But I am not too optimistic.

I am in great health, too, as is my husband, and our grandparents and great-grandparents live(d) into their 90s/early 100s. That’s a lot of years to finance!

Gen Z is the most ageist generation. Things will not change.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’m keenly aware of ageism - and how it intersects with misogyny -in the workplace. I’m 38. I’m a manager working with executives and plan to persistently pursue the executive level, where I expect I can be - and will have the stamina to maintain - until I’m 55 or so. Pre-corporate I was a yoga teacher, and plan to open a studio a year or two after retirement from corporate, but frankly my goal is to make as much money as possible as quickly as possible so I don’t have to worry (as much) about the future.

It’s also helpful that my DH is a senior IC with a very niche tech skill and will always have employment - he makes in the lower 200s and might top out around 300. Which is good. But I want to make really, really big money. As I see it, 10-15 years of balls to the wall work is worth being able to finance college, retirement, down payments for kids etc. (No family money, no inheritance.)

All of that said, it is weird and f***ed up how prevalent ageism is in America and how little we do to protect ourselves; how much power we cede to “the man.” Maybe with the agitation and machinations of Gen Z - who literally could NOT care less - these crappy workplace practices will change. But I am not too optimistic.

I am in great health, too, as is my husband, and our grandparents and great-grandparents live(d) into their 90s/early 100s. That’s a lot of years to finance!

Gen Z is the most ageist generation. Things will not change.

Wrong that's the old people boomers/genx who are not promoting Genz and millennials rightly over them

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m keenly aware of ageism - and how it intersects with misogyny -in the workplace. I’m 38. I’m a manager working with executives and plan to persistently pursue the executive level, where I expect I can be - and will have the stamina to maintain - until I’m 55 or so. Pre-corporate I was a yoga teacher, and plan to open a studio a year or two after retirement from corporate, but frankly my goal is to make as much money as possible as quickly as possible so I don’t have to worry (as much) about the future.

It’s also helpful that my DH is a senior IC with a very niche tech skill and will always have employment - he makes in the lower 200s and might top out around 300. Which is good. But I want to make really, really big money. As I see it, 10-15 years of balls to the wall work is worth being able to finance college, retirement, down payments for kids etc. (No family money, no inheritance.)

All of that said, it is weird and f***ed up how prevalent ageism is in America and how little we do to protect ourselves; how much power we cede to “the man.” Maybe with the agitation and machinations of Gen Z - who literally could NOT care less - these crappy workplace practices will change. But I am not too optimistic.

I am in great health, too, as is my husband, and our grandparents and great-grandparents live(d) into their 90s/early 100s. That’s a lot of years to finance!

Gen Z is the most ageist generation. Things will not change.

Wrong that's the old people boomers/genx who are not promoting Genz and millennials rightly over them

GenX is not in the position to promote anyone. And GenZ are definitely dismissive of “the olds”.

[Anonymous]

Anonymous wrote:I’ve had several friends laid off this year; we are all around 50 and have been in the same company for 10-20 years. They were still low level like managers or IC — not leadership or executive path.

However I don’t know many people in corporate America — my whole family worked for the county and here in DC we work for the govt and know either gov workers, contractors, or BigLaw partners.

What is the career path and out look for working to retirement as a F500 IC in like Chicago or Dallas? Does most of America live in fear of layoffs as they near 50??

OP - I'm sorry this happened to you. Unfortunately your experience isn't uncommon and, yes, many of us do live in fear of layoffs.

That said, I think the mistake you may have made was staying in one place for too long. 10-20 years is a very long time to be at the same company, and while it lets you create some serious institutional knowledge, that knowledge isn't valuable once you leave that company. Diversity of experience both in role and environment is usually a better builder of capabilities and value. The next employer often sees it the same way. They don't want a job hopper, but they also don't want somebody who is stagnant.

There's a phrase "You drown not by falling into a river, but by staying submerged in it". I think this applies here.

With that in mind, your job right now is to look busy and productive for your next employer. That's obviously not in a full time job, but it can be through volunteering, education, 1099 work, etc. Whatever it take to avoid looking like you're stuck.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’ve had several friends laid off this year; we are all around 50 and have been in the same company for 10-20 years. They were still low level like managers or IC — not leadership or executive path.

However I don’t know many people in corporate America — my whole family worked for the county and here in DC we work for the govt and know either gov workers, contractors, or BigLaw partners.

What is the career path and out look for working to retirement as a F500 IC in like Chicago or Dallas? Does most of America live in fear of layoffs as they near 50??

OP - I'm sorry this happened to you. Unfortunately your experience isn't uncommon and, yes, many of us do live in fear of layoffs.

That said, I think the mistake you may have made was staying in one place for too long. 10-20 years is a very long time to be at the same company, and while it lets you create some serious institutional knowledge, that knowledge isn't valuable once you leave that company. Diversity of experience both in role and environment is usually a better builder of capabilities and value. The next employer often sees it the same way. They don't want a job hopper, but they also don't want somebody who is stagnant.

There's a phrase "You drown not by falling into a river, but by staying submerged in it". I think this applies here.

With that in mind, your job right now is to look busy and productive for your next employer. That's obviously not in a full time job, but it can be through volunteering, education, 1099 work, etc. Whatever it take to avoid looking like you're stuck.

That’s all well and good, and I actually have been looking for a new job myself for over a decade, but I never got an offer that was compelling enough to be worth switching. Not better pay and benefits, usually a less stable company. Switching jobs frequently is very hard when you are working Parents, there are a lot of costs to starting a new job in time and flexibility, and you have to really be on your game when you first start out because if you fall through at all because like a kid gets sick, they are much more likely to can you compared to a place where you have proven your worth over time.

I job hopped a bunch before kids, like every two years. It was like clockwork, and it was a great way to boost salary and skills, but then once the kids were in the mix, it was much harder to move, logistically and physically, and I knew a new job could’ve could tell longer hours or less flexibility. It’s not like we made money where we could hire a full-time nanny who drove our kids around we were just gonna get a daycare.

I think that is part of my relatives and friends who got laid off problem, they were also working parents and had stayed in the same job for stability and flexibility in their lives and knew they could do their job well without long hours. But then at 50 or so the company just let them go just when they head college bills.

[Anonymous]

I was just reflecting on this the other day. I work at a tech company, I'm 33, and I am "old". Most of the folks I interact with on a daily working basis are 25-30.

The only folks older than me are in 3 brackets:
1- 38-45 - director+ folks, probably going to be exec leadership someday (though probably not at our huge company)
2- 45+ - senior leadership; VP+
3 - 38-55 - mid-level managers, IC folks.

The ones who get pushed out and the focus of this discussion are bucket 3. I'm always thinking about how do I future proof myself to be in groups 1&2.

The other thing to mention is that almost everyone is a male. I am a female who wants to have kids soon and I have a lot of fear and anxiety that I will fall into group 3 once I have kids. All of my male colleagues in groups 1&2 with kids barely act like they have children. I see no discernable change. Their wives are either SAHMs or in bucket 3.

[Anonymous]

Anonymous wrote:I was just reflecting on this the other day. I work at a tech company, I'm 33, and I am "old". Most of the folks I interact with on a daily working basis are 25-30.

The only folks older than me are in 3 brackets:
1- 38-45 - director+ folks, probably going to be exec leadership someday (though probably not at our huge company)
2- 45+ - senior leadership; VP+
3 - 38-55 - mid-level managers, IC folks.

The ones who get pushed out and the focus of this discussion are bucket 3. I'm always thinking about how do I future proof myself to be in groups 1&2.

The other thing to mention is that almost everyone is a male. I am a female who wants to have kids soon and I have a lot of fear and anxiety that I will fall into group 3 once I have kids. All of my male colleagues in groups 1&2 with kids barely act like they have children. I see no discernable change. Their wives are either SAHMs or in bucket 3.

Fellow 3 here just got scared 🤔

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’ve had several friends laid off this year; we are all around 50 and have been in the same company for 10-20 years. They were still low level like managers or IC — not leadership or executive path.

However I don’t know many people in corporate America — my whole family worked for the county and here in DC we work for the govt and know either gov workers, contractors, or BigLaw partners.

What is the career path and out look for working to retirement as a F500 IC in like Chicago or Dallas? Does most of America live in fear of layoffs as they near 50??

OP - I'm sorry this happened to you. Unfortunately your experience isn't uncommon and, yes, many of us do live in fear of layoffs.

That said, I think the mistake you may have made was staying in one place for too long. 10-20 years is a very long time to be at the same company, and while it lets you create some serious institutional knowledge, that knowledge isn't valuable once you leave that company. Diversity of experience both in role and environment is usually a better builder of capabilities and value. The next employer often sees it the same way. They don't want a job hopper, but they also don't want somebody who is stagnant.

There's a phrase "You drown not by falling into a river, but by staying submerged in it". I think this applies here.

With that in mind, your job right now is to look busy and productive for your next employer. That's obviously not in a full time job, but it can be through volunteering, education, 1099 work, etc. Whatever it take to avoid looking like you're stuck.

That’s all well and good, and I actually have been looking for a new job myself for over a decade, but I never got an offer that was compelling enough to be worth switching. Not better pay and benefits, usually a less stable company. Switching jobs frequently is very hard when you are working Parents, there are a lot of costs to starting a new job in time and flexibility, and you have to really be on your game when you first start out because if you fall through at all because like a kid gets sick, they are much more likely to can you compared to a place where you have proven your worth over time.

I job hopped a bunch before kids, like every two years. It was like clockwork, and it was a great way to boost salary and skills, but then once the kids were in the mix, it was much harder to move, logistically and physically, and I knew a new job could’ve could tell longer hours or less flexibility. It’s not like we made money where we could hire a full-time nanny who drove our kids around we were just gonna get a daycare.

I think that is part of my relatives and friends who got laid off problem, they were also working parents and had stayed in the same job for stability and flexibility in their lives and knew they could do their job well without long hours. But then at 50 or so the company just let them go just when they head college bills.

You act as if you're the only one with kids or a life outside of work. Other people find a way to move around.

Either way, I'm sorry this happened to you. Good luck.