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How much money do you make?

#money I am 16 years old

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From: You
To: Friend
Subject: Career question for you

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Ore’s Answer

Hi Aylin,

Thank you for the very direct question and it is great that you are thinking about how much money its possible to make in various professions also referred to as "compensation".

A couple of things i want to highlight as you think through this.

Understanding how much money one makes is important when selecting a job or profession but there are often other factors that are important as well.

  • What standard benefits does the job offer. For example does it offer medical/dental insurance, does it offer any retirement benefits like a pension or others, does it provide for disability insurance, how much annual paid vacation time does it offer, how much paid holiday time does it offer
  • Does the job provide annual bonuses. In some jobs and professions you are entitled to earn an additional bonus each year depending on how well you perform. For example a job may say if you perform at a certain level, you will receive a bonus of 10% of your annual salary.
  • What is the culture of the company or agency etc. What is the work environment like? Do people work in teams or mostly individually. Do people work from home often or do they always work from the office location. Is the organization very hierarchical with more formal rules of interaction or more flat with less formality. What is the dress code.
  • Who are the people you will you work with and what are they like? Remember you will likely spend a significant amount of time with your co-workers so it can be valuable to know a little bit about what they are like.

Anyway, without going to much further i want to highlight that in addition to how much you make there are other factors that are very important when thinking about a job or profession and it is important to weigh all these factors.

To find out about salaries there are websites like glassdoor.com or salary.com or payscale.com that give an idea of various salaries for various jobs.

Now to answer your question... i make somewhere between 0 and $1 Billion. Hope that helps!

Ore recommends the following next steps:

Visit some salary websites to get some ideas of various jobs and salaries
Also try to learn about what are called "benefits" as well as these are also important in a job/professional decision
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Richard’s Answer

About a hundred dollars...

The answer to that question can be deceptive, even on those salary websites.

Consider the income over a career time frame ...

Someone drawing in a great salary probably involved undergraduate studies ( 4 years, maybe $100,000? ) then post grad ( another two years and $100,000 ? ) then a few years apprenticing and licensing for practically no salary.

SO your first decade is probably training and add another decade paying off debt!

for the 35 year average career 20 went to getting qualified! That high income for that prestigious job aint lookin' so great!

for a few years... I made a whole bunch of money, and got taxed to the max... so factor in that high bracket! Government does take a bite!

Stress usually shortens a career... you may burn out with those high paying jobs.

SO factor in the whole picture before being seduced by those high numbers!

sorry for the bleak input...

Rich "Rain Man" Wolf
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