Geon wrote:BruceWayne wrote:rayiner wrote:You're comparing an incredibly great scenario (making $90k after six years at a job with just a bachelors degree) to the average below/average scenario (coming off big law after 3 years making $80k).
And this is being extremely generous. More like "bomb-ass pop lock and drop it" scenario. $90K after 6 years of work with a bachelor's degree? LOL you probably have better odds graduating below mean from a top 200 law school at landing a 100K firm job.
Not really. It really depends what your degree was in, where you live, etc. My degree in business from a good school, I know plenty of people who hit the 100k mark before 6 years. In fact very few people from this school do an mba because it is not necessarily financially ie. you should be earning more than what the mba would start you at.
Plenty of accountants, sales people, finance, consultants, marketing are breaking or surpassing this 6 years out. With an average/median starting salary in the low 50k range you'd seriously being doing something wrong not to double your salary 6 years out.
The valid point you may be pushing is that this is not common in most of north america, I don't know to be honest what all those other majors end up financially like gender studies for example. But anyone who got into these types of jobs would be just as good off financially and if you can make big law, you can definitively get into most these jobs.
So I was in software engineering before law school, and it's a profession where you can hit $100k six years out. That said, I think you're painting a rosy picture.
1) $100k after six years is not typical for people in accounting or marketing or even engineering. You can do it, but you have to be very good. If you're going to a Big-4 accounting firm or into a decent consulting gig it's possible, but the former is quite an achievement for an accountant. I have accountant friends who make nowhere near $100k. It's not the typical outcome.
2) People who get big law could not necessarily get into finance or consulting (the two where $100k after six years is the best possibility). The majority of law students are political science/humanities majors, not finance or business majors.
4) Finance and consulting are both up-or-out professions, at least the ones that let you earn $100k within six years. There are a lot of former finance/consulting folks in my law school class who did their 2-3 years then went to grad school like all of their coworkers.
5) The professions that let you earn $100k after six years that aren't up-or-out (engineering, marketing) have a low salary cap. As an engineer I would've hit $100k quite quickly by job hopping, but after that you're making 3% cost of living increases for the rest of your life.
Even out of the pool of good jobs you can get out of undergrad (consulting, finance, engineering, accounting), the folks that will surpass $100k early on and continue building earning power beyond the low $100k range are probably in the top 20% of outcomes (that's SWAG). And if you're in the top 20% of outcomes after getting big law, you'll be making much more than that after leaving big law.