Do must people successful in their careers grind after 30?

[SeductivePig]

I'm finding that I spent my entire 20's struggling to clear debt in a career that I didn't care about (EE), and I'm probably going to end up married at 32 in an entry level position making $75k+, working 50-60 hours a week, with just enough money between the both of us to put $100k down on a $500k home. Fortunately my fiance works and pulls in around $85-100k so we wont' be strapped for cash, but it kind of feels bad.

I look at most of my friends (management consultants, product managers, private equity, finance) and they are pulling in $150-200k+ total comp, but are probably working similar hours in their 30s.

Do those hours ever get lower for people in such positions? Or is it true that once you reach that level of compensation, you're basically bound to those kinds of hours unless you take a paycut? That's ultimately where I want to be compensation wise, but I don't think I'll reach there until 35ish.

 

[Mayne]

You will work until you are dead.

 

[SeductivePig]

You will work until you are dead.

I am aware of that. I'm trying to understand if working 50-60 hours a week is typical for people in the $150-200k salary range. People in prestigious careers.

Mostly so I don't feel bad putting in those hours in my early 30s.

I don't mind working hard at something I enjoy, but I would hope it gets better at some point. Either that or people become better at time management so the 50-60 hours doesn't bother them as much.

 

[ImpulsE69]

How about not spend 500k on a house? Ever thought of that? We just paid our house off. 15 years early. We could have afforded a much more expensive house but...why? It's just more to clean, more to cram more crap into. Hell...I sometimes think our house is too big now...

anyway....to each their own, but if you don't want to work until you die, think smaller and/or move to a less expensive area and definitely don't compare yourself to your friends.

 

[Mayne]

How about not spend 500k on a house? Ever thought of that? We just paid our house off. 15 years early. We could have afforded a much more expensive house but...why? It's just more to clean, more to cram more crap into. Hell...I sometimes think our house is too big now...

anyway....to each their own, but if you don't want to work until you die. Think smaller.

thats the typical range for a house in Toronto...sadly..it's usually higher

 

[rh71]

How about not spend 500k on a house? Ever thought of that? We just paid our house off. 15 years early. We could have afforded a much more expensive house but...why? It's just more to clean, more to cram more crap into. Hell...I sometimes think our house is too big now...

anyway....to each their own, but if you don't want to work until you die, think smaller and/or move to a less expensive area.

We paid off our house at 40yo, but guess what... kids college tuition is no joke these days...

Maybe after that we can finally wind it down.

 

[SeductivePig]

How about not spend 500k on a house? Ever thought of that? We just paid our house off. 15 years early. We could have afforded a much more expensive house but...why? It's just more to clean, more to cram more crap into. Hell...I sometimes think our house is too big now...

anyway....to each their own, but if you don't want to work until you die. Think smaller.

I'm not worried about the house. If we put $100k down we can clear it in 15 years that's not a problem. Pulling in combined $200-300k from 35 onwards, a $400k mortgage over 15 years is not difficult.

 

[ImpulsE69]

We paid off our house at 40yo, but guess what... kids college tuition is no joke these days...

Maybe after that we can finally wind it down.

Yea, for sure. Fortunately we don't have that issue, but yea, more reason to spend less elsewhere unfortunately.

 

[Mayne]

I went to collect some money from a customer yesterday. He was in the middle of a 14,000 ft sq. renovation. Guess what his profession was?

 

[ImpulsE69]

I'm not worried about the house. If we put $100k down we can clear it in 15 years that's not a problem. Pulling in combined $200-300k from 35 onwards, a $400k mortgage over 15 years is not difficult.

Understandable, but you are assuming that you are going to be pulling that kind of money consistently. It is this mindset that gets people into trouble.

 

[ImpulsE69]

To answer your original question, generally no. Maybe the job/title changes, but with 'promotions' and/or running a business, typically means more hours. If you excel at your job, that also usually nets you additional hours because people will come to you because they know you will get it done. Generally if you want less hours, you end up changing careers into something less taxing and a substantial pay cut. With the way the world is going, I see this actually getting worse before it gets better.

 

[SeductivePig]

Understandable, but you are assuming that you are going to be pulling that kind of money consistently. It is this mindset that gets people into trouble.

I didn't intend to give off that perception - from how I've had to save money to clear my debts, I know that's the worst thing to assume. Cash flow isnt constant. But I'm planning to enter the software engineering industry and maybe segue into finance related software at some point so I know my skills will be in demand for a very long time. Same with my fiance.

I am a very thrifty spender and I have always followed the FIRE method even though I don't plan to retire early. But that doesn't mean I buy everything cheap, I just do my damn best to save as much as possible and not wastefully spend.


On another token, do many successful people switch careers at 30? I'm not talking about switching from one equally difficult/prestigious industry to another (like from finance to tech) but going from electrical engineering to consulting, or finance, or tech? Does it set people back a lot?

I feel that I am actually in a more advantageous position to start a career there now as opposed to when I was younger because I know my strengths/weaknesses better and I'm more committed.

 

[Herr Kutz]

If I have one recommendation for aspiring electrical engineers, it is to change your major. Now. Not tomorrow. Now. I wish someone had given me that advice.

 

[Ns1]

I am aware of that. I'm trying to understand if working 50-60 hours a week is typical for people in the $150-200k salary range. People in prestigious careers.

My bosses make that range and probably put in 45-55 hours/week. BUT they get an incredible amount of flexibility that is hard to put a price on, e.g. "oh I feel like working 3 hours today and working from home tomorrow, call me if you need anything". Having said that, they're all super smart and they get the job done.

 

[Exterous]

Yeah I think so - at least I hope so since I took a more stressful position because it has a ton more financial upside. But I'm hoping the more financial flexibility now and theoretically earlier retirement will make the change worthwhile. And as Ns1 said I get a lot more schedule flexibility. "I had a long work day yesterday. I'm leaving at 2pm today." Assuming I don't have any important meetings anyway

 

[SeductivePig]

If I have one recommendation for aspiring electrical engineers, it is to change your major. Now. Not tomorrow. Now. I wish someone had given me that advice.

Same. Should have done computer engineering or CS.

My bosses make that range and probably put in 45-55 hours/week. BUT they get an incredible amount of flexibility that is hard to put a price on, e.g. "oh I feel like working 3 hours today and working from home tomorrow, call me if you need anything". Having said that, they're all super smart and they get the job done.

I have had that privilege for several years now. As long as there's no need to talk to my clients or there are no meetings, I can work from home. I isolated myself from everyone so that I don't have to put up with bs.

That being said, no amount of perks can make me happy if I don't like my industry. Oil/gas sucks.

 

[highland145]

I went to collect some money from a customer yesterday. He was in the middle of a 14,000 ft sq. renovation. Guess what his profession was?

Fluffer?

OP..depends...I had a free ride and got a comp e piece of paper. I also had a 2.3 GPA. Who knew that skirt chasing and beer drinking weren't employable skills? dafuq So I dug ditches and did construction until I ended up in low finance. Lots of hours, poor pay but better than hand mixing concrete 8hrs/day. 20 years later, I work for myself. My post count and amazon prime video indicate how much I work now...

The flip side...friend went to Northwestern and then Wharton. Came out in '88ish making $70K. He's now the cfo of a major drug player. His dad, who has the memory of an elephant, was the plant manager of a prominent corporation. I truly believe that his mentor-ship was key. My friend is very smart and I'm not taking anything away from him but...you need to have the path laid out. Contacts and luck is nice.

Just think, you could be an upwardly mobile associate at wal mart.

 

[highland145]

That being said, no amount of perks can make me happy if I don't like my industry. Oil/gas sucks.

Would they if you were in charge?

Another friend is a geologist. He has 2 clients. He has nice toys too.

3rd story and I'm done...yeah, I'm old...another friend was a nuclear engineer. Made bank in the 90's. Then started his own hvac business. Whatever he learned as an engineer propelled him into what he does now.

 

[SeductivePig]

Would they if you were in charge?

Another friend is a geologist. He has 2 clients. He has nice toys too.

3rd story and I'm done...yeah, I'm old...another friend was a nuclear engineer. Made bank in the 90's. Then started his own hvac business. Whatever he learned as an engineer propelled him into what he does now.

I pretty much am in charge. I only talk to my boss a few times a week over the phone, and it's usually for minor QA/QC. Even then, I don't like my position. It's lonely and unfulfilling, the pay ceiling has been hit, no bonus, etc.

 

[highland145]

I pretty much am in charge. I only talk to my boss a few times a week over the phone, and it's usually for minor QA/QC. Even then, I don't like my position. It's lonely and unfulfilling, the pay ceiling has been hit, no bonus, etc.

Did that and that's why I'm on my own. Self employed sucks a bit but there are perks. Guns and ammo for training and self protection...

Shop around. I did because I was fed up with finance and found that I couldn't make any $$ because finance was all that I had done for 20 years.

 

[SeductivePig]

Did that and that's why I'm on my own. Self employed sucks a bit but there are perks. Guns and ammo for training and self protection...

Shop around. I did because I was fed up with finance and found that I couldn't make any $$ because finance was all that I had done for 20 years.

Meh, my pay is on par with my qualifications and experience. Shopping around would mean I work more but commute less and get comparable pay. Not worth the stress to move, IMO. I just want out of the entire industry. I'm thinking 6-12 months of programming, networking, and learning core SWE principles should get me a junior level role paying $70k+ in a big city.

I want to end up in software/tech and maybe eventually something finance related that pays $150k+ with a nice bonus and 401k, with options for occasional remote work. That will never happen with a hardcore EE role in oil/gas, I will always be near $100k and bonuses are a myth.

My industry is a strong middle class industry, only people really up there make the big bucks (VPs, senior PMs, etc). Senior tech folks with 25+ years barely make $125k. Not going to wait that long to hit that.

 

[deadlyapp]

I just turned 30, bring in around 125-145 depending on yearly bonuses, and actually -work- probably 30hrs a week. I have a huge amount of flexibility in my schedule (wfh about 3 days a week) and do very little travel right now. I expect at some point in the near future that I will likely end up working more hours, but most of those hours will be very spread around and less "work" and more just participating in calls, etc. High probability that in the next 5 years I'll also take something with much higher travel requirements.

I have an engineering degree, but have moved over to the business side, which is really the only way you can get this sort of flexibility.

If you're in O&G and have an engineering background, I strongly recommend trying to shift yourself into the business side of things. Product manager, analyst, R&D management, etc.

 

[Genx87]

Heh I feel your pain, a little. I have been trying to work my way up the IT manager ladder the last few years. Better pay, less grinding the technical of new technology. But it feels like I am back getting out of school. Not enough manager experience to hire, but cant get more manager experience without getting hired. At least my pay is good for now. And my wife is an RN. So between us pull in just a tad under 200k. Which is good for a pair of empty-nesters in their early 40s with no car payments and a proper sized house(200k).

Hours may not change as you move into manager work. But it will be different. More running projects, organizing labor, a glorified organizer.

 

[purbeast0]

I am aware of that. I'm trying to understand if working 50-60 hours a week is typical for people in the $150-200k salary range. People in prestigious careers.

Not in my current position. I'm a software engineer and have 14 years in the industry and have worked more than 40 hours 2 or 3 times in my career, and all of those times I was compensated in one way or another. And it was only working like an extra 8 hours each time, coming in one day on a weekend.

 

[sourceninja]

The big change for me was the push for remote work. I started trying to make a career change from IT to InfoSec about 4 years ago. I couldn't find any infosec jobs that paid as well as my IT position. Finally I started looking at remote work. Now I make 30k more than I did driving into the office. I work 10 hours less a week and I get to do it from my home without pants on.

I get big city pay scale living in one of the lowest cost of living areas in the country. I could buy a 2500sq foot home for about 200k right now.