How it feels to finally make $100k a year
As the title shows, I finally am making $100k a year.
It’s not like there was a finish line at the end of a race with a bunch of people to congratulate me, but it does feel like it in a lot of ways.
I wanted to share a bit about how I got here, and how I feel financially.
Well I got here working in the data science field, as I’m sure you know if you read my other posts. My compensation progression goes:
- Y1: 60k(non data science role)
- Y2: 70k(entry level data science role)
- Y3: 80k
- Y4: 100k(new intermediate data science role)
Moving up the career latter first and foremost has not been easy, at all. You need to be constantly learning, producing good work, and managing office politics. It takes a long time, and for anyone looking at the simple list above, the hard work and time spent in each of those years is a lot harder than you might think. So if moving up in the compensation ladder is important to you, just know that it’s not as easy as you might think.
Now on to how I feel financially. To be honest, 100k is not as much as I thought it would be in todays society. With inflation skyrocketing and salaries not changing too much, I’m still not able to spend luxuriously or save ridiculous amount. My net take home is about $6500 after taxes which means that after rent and other expenses, I save about 3–4 thousand a month, or about 40k a year. I know for a lot of people that’s really a blessing, but at least for me personally, I don’t feel like it really increases my standard of living by that much.
Basically, it’s really not that impressive, and I still feel like I have a long way to go.