What is Middle Class....Really?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those numbers are probably skewed by people who deliberately go into low paying fields because of interest (publishing, fashion etc.) or go into public sector non-profit work.

Most of my friends who graduated my year were making $65K immediately after undergrad. By 2-3 years out many (if not most) were brushing up against 100K. 5-6 years out of college most of us are making in the 200K region.

I think it's very true that if you go into a private sector, for profit career where basically the only goal is to make money, you've definitely screwed up if you're only making 100k.

What field? My law firm hires college grads into entry level non-attorney positions for around $40k. If they stay 5-6 years they may be making $50-$60k, but they sure as hell aren't pulling down $200k unless during those 5-6 years they also went to law school and came back as associates.

OP here. Many friends went into management consulting (McKinsey, Bain etc.) where comp packages were around 80k all in first year. Some went into Econ consulting (Cornerstone, NERA etc.) where packages are around 70k first year. Many friends also went into investment banking where fjrstvyear comp was well above 100k.
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I also didn't mean to suggest the comp 5 years out was just on an undergrad degree. I finished professional school as did many of my friends and that's when we got the salary bump to $200k or so.

is as

You realize you are talking about less than 1% of the population right?
Most people even in DC will be in the 125-175k range max.

DP. That's the problem. People here (and they sound young) are talking about earning $200k as if it's commonplace. The fact that they don't realize that they are talking about the top 1% (and that's it's unusual for a B.A. with five years of experience to earn even half that) really does show that many DCUMers do not realize how well-off they are. (Or how elitist they sound.)

[Anonymous]

Can't speak for OP, here but I'm in a similar situation.

I think the issue here is frame of reference. We think these salaries are typical because, for us, they are typical. Everyone in my peer/friend group that I spend time with makes at minimum 100K and we're relatively young (mid to late 20s). We reflexively compare ourselves to those we know.

Frankly, the people making 40-50K 5 or more years out of undergrad don't really register on our mental radar because we don't know them or spend time with them.

[Anonymous]

Anonymous wrote:Can't speak for OP, here but I'm in a similar situation.

I think the issue here is frame of reference. We think these salaries are typical because, for us, they are typical. Everyone in my peer/friend group that I spend time with makes at minimum 100K and we're relatively young (mid to late 20s). We reflexively compare ourselves to those we know.

Frankly, the people making 40-50K 5 or more years out of undergrad don't really register on our mental radar because we don't know them or spend time with them.

So snobby and out of touch with reality.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Can't speak for OP, here but I'm in a similar situation.

I think the issue here is frame of reference. We think these salaries are typical because, for us, they are typical. Everyone in my peer/friend group that I spend time with makes at minimum 100K and we're relatively young (mid to late 20s). We reflexively compare ourselves to those we know.

Frankly, the people making 40-50K 5 or more years out of undergrad don't really register on our mental radar because we don't know them or spend time with them.

So snobby and out of touch with reality.

I don't think so and I agree with PP. This is a lot of people's reality in the DMV and/or DCUM. If it's not yours, well, that's life. If you do make that much, I would wonder why you don't think the same as PP. It isn't normal or healthy to be entirely empathetic with people in vastly different situations than you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Can't speak for OP, here but I'm in a similar situation.

I think the issue here is frame of reference. We think these salaries are typical because, for us, they are typical. Everyone in my peer/friend group that I spend time with makes at minimum 100K and we're relatively young (mid to late 20s). We reflexively compare ourselves to those we know.

Frankly, the people making 40-50K 5 or more years out of undergrad don't really register on our mental radar because we don't know them or spend time with them.

So snobby and out of touch with reality.

I don't think so and I agree with PP. This is a lot of people's reality in the DMV and/or DCUM. If it's not yours, well, that's life. If you do make that much, I would wonder why you don't think the same as PP. It isn't normal or healthy to be entirely empathetic with people in vastly different situations than you.

Okay, you've done it, you've written the perfect parody of a DCUM Money & Finances board post.

Right?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Can't speak for OP, here but I'm in a similar situation.

I think the issue here is frame of reference. We think these salaries are typical because, for us, they are typical. Everyone in my peer/friend group that I spend time with makes at minimum 100K and we're relatively young (mid to late 20s). We reflexively compare ourselves to those we know.

Frankly, the people making 40-50K 5 or more years out of undergrad don't really register on our mental radar because we don't know them or spend time with them.

So snobby and out of touch with reality.

I don't think so and I agree with PP. This is a lot of people's reality in the DMV and/or DCUM. If it's not yours, well, that's life. If you do make that much, I would wonder why you don't think the same as PP. It isn't normal or healthy to be entirely empathetic with people in vastly different situations than you.

Okay, you've done it, you've written the perfect parody of a DCUM Money & Finances board post.

Right?

Not the PP, but I was so floored by that comment that I couldn't even summon the strength for a reply!

Is it true that DCUM snobs are not only out-of-touch with the what the typical professional earns but that they are proud to cut themselves off from those living in the real world? Is there really someone who thinks it is ABNORMAL and UNHEALTHY to emoathize with those who are "less than" or in different situations? I would be curious to know the age of this person and whether she identifies as liberal or conservative.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Can't speak for OP, here but I'm in a similar situation.

I think the issue here is frame of reference. We think these salaries are typical because, for us, they are typical. Everyone in my peer/friend group that I spend time with makes at minimum 100K and we're relatively young (mid to late 20s). We reflexively compare ourselves to those we know.

Frankly, the people making 40-50K 5 or more years out of undergrad don't really register on our mental radar because we don't know them or spend time with them.

So snobby and out of touch with reality.

I don't think so and I agree with PP. This is a lot of people's reality in the DMV and/or DCUM. If it's not yours, well, that's life. If you do make that much, I would wonder why you don't think the same as PP. It isn't normal or healthy to be entirely empathetic with people in vastly different situations than you.

[Anonymous]

Why is it surprising that successful people prefer to hang with other successful people instead of the poors?

[Anonymous]

I don't have anything to add to the main debate here, but I find it quite condescending that people keep saying that those of us who make that kind of income "don't live in the real world."

My parents came as immigrants to this country and had no soft capital to give to me except the cultural values of a love for education and hard work, and my siblings and I clawed our way into making $200k + by sheer force of will and talent while constantly being outsiders.

And people on this board say we don't live in the real world? Forgive me if I don't have endless sympathy for those whose families have been here for generations (with all the privileges that entails) if they still can't hack it and are slumming it in constant mediocrity.

[Anonymous]

Anonymous wrote:Why is it surprising that successful people prefer to hang with other successful people instead of the poors?

Everyone I know makes 1M+. You 200k slummers are the poors in our books.

[Anonymous]

Anonymous wrote:Why is it surprising that successful people prefer to hang with other successful people instead of the poors?

You mean "the poors" who are struggling on a salary of $90,000 - like the 30-year-olds with a degree from MIT or Harvard? OMFG. You are sick.

(If you're white, are you willing to hang around with "the blacks?")

[Anonymous]

Anonymous wrote:I don't have anything to add to the main debate here, but I find it quite condescending that people keep saying that those of us who make that kind of income "don't live in the real world."

My parents came as immigrants to this country and had no soft capital to give to me except the cultural values of a love for education and hard work, and my siblings and I clawed our way into making $200k + by sheer force of will and talent while constantly being outsiders.

And people on this board say we don't live in the real world? Forgive me if I don't have endless sympathy for those whose families have been here for generations (with all the privileges that entails) if they still can't hack it and are slumming it in constant mediocrity.

What's your definition of "slumming it"? You don't find it condescending to say people earning $100,000 are mediocre? What a friggin' snob.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why is it surprising that successful people prefer to hang with other successful people instead of the poors?

Everyone I know makes 1M+. You 200k slummers are the poors in our books.

And I live off my investments. I don't care to hang with "the workers." Ick.

[Anonymous]

If you have a degree from MIT and make 90k-100k 5 years out, your social IQ must be near 0 or you have a very serious drinking or drug problem. My legal secretary maes 80k and ever went to college for Christ sake.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don't have anything to add to the main debate here, but I find it quite condescending that people keep saying that those of us who make that kind of income "don't live in the real world."

My parents came as immigrants to this country and had no soft capital to give to me except the cultural values of a love for education and hard work, and my siblings and I clawed our way into making $200k + by sheer force of will and talent while constantly being outsiders.

And people on this board say we don't live in the real world? Forgive me if I don't have endless sympathy for those whose families have been here for generations (with all the privileges that entails) if they still can't hack it and are slumming it in constant mediocrity.

What's your definition of "slumming it"? You don't find it condescending to say people earning $100,000 are mediocre? What a friggin' snob.

Not making a blanket statement about those who make $100K- if you choose to go into government service or public service that's tremendously honorable. But if you've been here for generations and are in the private sector, yeah color me extremely unimpressed.