Are $500k+ jobs really that common?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have also become aware that there are lots of jobs that sound really impressive but actually don’t pay that well at all. Directors of museums, historic homes, university librarians, heads of art galleries, curators, head of fundraising for a symphony. Director of a prestigious private school, head of a think tank, or a prestigious center at a university.

I remember initially meeting a lot of people in DC who had what I considered high powered jobs and in some cases looking them up to find that they pay peanuts.

Because they have very different values than you.

Not everyone is primarily motivated by money (and many of us have minimal respect for those who are…)

Many of us have minimal respect for people who don’t realize that most people need their salaries to pay their bills.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have also become aware that there are lots of jobs that sound really impressive but actually don’t pay that well at all. Directors of museums, historic homes, university librarians, heads of art galleries, curators, head of fundraising for a symphony. Director of a prestigious private school, head of a think tank, or a prestigious center at a university.

I remember initially meeting a lot of people in DC who had what I considered high powered jobs and in some cases looking them up to find that they pay peanuts.

Because they have very different values than you.

Not everyone is primarily motivated by money (and many of us have minimal respect for those who are…)

Many of us have minimal respect for people who don’t realize that most people need their salaries to pay their bills.

If you actually have $500k in bills a year, you either have a rare medical condition and no insurance, or you are spending money on things you don’t “need.”

[Anonymous]

If you exclude all the categories of jobs that have the highest comp, then no--making $500k is not common.

But in the real world, in any major metro area tens of thousands of people have the types of jobs you are choosing to ignore.

[Anonymous]

To summarize:

A HHI of $500k is much more common than an individual salary/bonus of $500k.

High salaries and HHI are common in wealthy zip codes, but those zip codes are not representative of the metro area.

High salaries are concentrated in the very professions that OP excluded.

[Anonymous]

500k base is very rare, even in DC. This would be big law attorneys at the higher levels (like 8th-year associate, partners etc), doctors in higher-paying specialties (basically surgeons, or surgeon adjacent like derms who do lots of Mohs), and the VPs at the big companies like Capital One, the pharma companies, etc. Even people who are senior directors at these places aren't getting a 500k base but probably get over that amount with their bonus and stock. My husband is a function leader assistant GC at a big pharma company and his base is low 300s, but gets like 150k in restricted stock that vests after xx years and we cannot really touch. The DMV has lots of families making 300k each for the base, which is a high HHI obviously.

[Anonymous]

We get to that level of compensation from bonus structure, not from salary.

[Anonymous]

Anonymous wrote:500k base is very rare, even in DC. This would be big law attorneys at the higher levels (like 8th-year associate, partners etc), doctors in higher-paying specialties (basically surgeons, or surgeon adjacent like derms who do lots of Mohs), and the VPs at the big companies like Capital One, the pharma companies, etc. Even people who are senior directors at these places aren't getting a 500k base but probably get over that amount with their bonus and stock. My husband is a function leader assistant GC at a big pharma company and his base is low 300s, but gets like 150k in restricted stock that vests after xx years and we cannot really touch. The DMV has lots of families making 300k each for the base, which is a high HHI obviously.

But a $350k plus job is not a 40 hour week job usually, right. So very hard for two of these and run a household with kids.

One earner making $500k is way more sustainable.

[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.

Nice try with with word twisting..

https://www.incomebyzipcode.com/maryland/20816

The median household income ($228,311) for 20816 is less than the median household income for 20817 ($231,292), 22101 ($250,001), Brookmont CDP ($250,001), and Somerset town ($250,001). But it's more than 20016 ($169,489), 20812 ($194,375), 20815 ($185,873), Montgomery County ($125,583), Bethesda CDP ($185,546), and Glen Echo town ($194,375)."

And "$250,001" means this data isn't actually accurate.

[Anonymous]

I have a $500K+ total comp attorney job in big pharma and it is a walk in the park… I am not in management and there are many other roles like me in the org, most with great work life balance and wonderful colleagues.

We did all put in our big law years but now it seems almost too easy. I guess if we stayed in big law we could be making multiples of $500K but I’d rather have my current situation any day.

[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.

That’s HHI. Not individual incomes. Even in those zip codes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have also become aware that there are lots of jobs that sound really impressive but actually don’t pay that well at all. Directors of museums, historic homes, university librarians, heads of art galleries, curators, head of fundraising for a symphony. Director of a prestigious private school, head of a think tank, or a prestigious center at a university.

I remember initially meeting a lot of people in DC who had what I considered high powered jobs and in some cases looking them up to find that they pay peanuts.

Because they have very different values than you.

Not everyone is primarily motivated by money (and many of us have minimal respect for those who are…)

Many of us have minimal respect for people who don’t realize that most people need their salaries to pay their bills.

Uh, my spouse and I work in those fields, our combined income is under 200k, and we very much need our salaries to pay our bills! No trust funds here.

You probably wouldn't respect us because we live in not the best zip code in MD on those salaries though. I'm sure you'd find a way to make it about how we don't love our children enough to give them the best opportunities or whatever.

[Anonymous]

Anonymous wrote:

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.

Bingo. This is a very common rich people misconception, i think - their salaries CAN'T be that high because they seem average in their incredibly expensive neighborhood, and they know other people with more.

[Anonymous]

You have neighborhoods where you might have a grouping of very rich/high hhi folks. They know others of similar income. In those circles it comes across as common because that’s what they know. It’s not actually common.

[Anonymous]

Anonymous wrote:I have a $500K+ total comp attorney job in big pharma and it is a walk in the park… I am not in management and there are many other roles like me in the org, most with great work life balance and wonderful colleagues.

We did all put in our big law years but now it seems almost too easy. I guess if we stayed in big law we could be making multiples of $500K but I’d rather have my current situation any day.

Nice. I guess I should encourage my kids to to law school, work at FDA, then pivot to Pharma?

[Anonymous]

Anonymous wrote:I have a $500K+ total comp attorney job in big pharma and it is a walk in the park… I am not in management and there are many other roles like me in the org, most with great work life balance and wonderful colleagues.

We did all put in our big law years but now it seems almost too easy. I guess if we stayed in big law we could be making multiples of $500K but I’d rather have my current situation any day.

What attorney positions at the fda have the most lucrative exit options?