Reddit Thread: "Would you work 80 to 90 hours a week for $350,000 a year? If no, why not?"
https://www.reddit.com/r/AskReddit/comments/1ek5r…
More "no"s than "yes"s. Interesting.
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Not very interesting. Very few people would work 80hrs week for 48-52 weeks straight for $350K
That's not far off from what IB associates make and they average around those hours (it may be more like 70-80 hours but that's close enough for this conversation). MF PE pays around there while working about those hours.
It isn't as crazy as it sounds intern
Yeah no shit… IB isn’t exactly a “normal” job. Thanks for the revelation (on an IB forum) that people actually DO work those hours, nobody here knew that!!
I wasn't contesting the pay nor the hours.
Rather the fact that the average person is not willing to do the job under those conditions. Hope that helps.
They aren't doing it just to make $350k forever. They are doing it because it's $350k + a huge learning experience that either throws them into a multi 7 figure career in IB with slightly less hours or a still high paying career in another field with better hours and getting there when they're 28 years old instead of 40. The $350k a year for 80 hours a week is a temporary 3 year phase.
This depends what the alternative is, what those 80-90 hours are like, and how long I’d have to do this for.
If I had an option to work maybe ~60-70 hours each week for $250K instead, I’d rather do that. If it was between a minimum wage job or the $350K for 80-90 hours per week, I’d take the $350K. If someone told me I’d only have to do the $350K for 1-2 years, and then work 60 hours per week for millions each year, that sweetens the deal.
There are too many variables.
how about 1) 40h job that pays $100k and gives you job stability, or 2) 80-90h job that pays $350k for 5 years and then you're either getting kicked out with 80% probability or get promoted and make $500-600k for 3y, then either get kicked out with 80% probability or make $1M with pay growing by 7% per year afterwards for 10y, after which you get kicked out?
Tech salaries have distorted people’s perceptions, you could go to any random school for computer science and end up making 200k working 40 hours a week
Not anymore lol. The bubble is popping, same way we view pre 08 Wall Street today
keep telling yourself that. i work on a team with people who earn $500k+ working 30 hours a week on avg (differs if they are on call or not)
SWE is not going anywhere, just barrier to entry is a bit higher and the extremely high paying roles are less common/have more churn. you can easily pull $300k+ TC as an SWE after 5 years experience even if you aren't elite at your job
del
Not really can speak for people i know personally from the most over represented pool in tech - Indians, i’m from India too seen this work for multiple people i went to school with
Go to some random undergrad in India (ones where you can walk in, fill a form and get in) —> learn coding externally, did some random internships, do projects on something they call leetcode (their version on value investors club i guess) —> go for a 1 year masters to the US —> almost all of them land some FAANG job paying 150k plus
yeah currently they're more likely to be unemployed that 200k for 40h
People on Reddit are massive pussies who expect things handed to them. Everyone on there will yap nonstop about how they can’t afford a house in one of 5-6 VHCOl while having an “anti work” mentality where they try to put in the minimal effort in life.
yep, they love to scream about rich people not paying their fair share, and then when you ask them "would you work long hours to become rich", they're like "hell nah, it's not worth it". everybody wants to be rich but nobody wants to work for it.
del
One of my companies had a job go viral on antiwork bc we were offering a lot of money for a design role that also involved a lot of work. We were up front about stating required/approx hours.
It's just b/c we believe in less people but higher pay.
Reddit could not comprehend that and the post went viral lol. Pretty funny but they are total glue eaters on there...
Just curious if you don't mind, what kind of pay and hours we talking here?
They're full-blown shoe-licking communists over there it's astounding. By virtue of breathing and shitting they think they deserve UBI.
I think Reddit turned radical left because management permitted moderators to ban anyone with a conservative-leaning opinion. After being banned by 3 or 4 subreddits, I just quit using it.
The thing that is lighting a fire under my ass is that there are many people making 10x that who own a business and have ownership over their lives and schedule. Being part of 'the system' for too long is devastating to your soul lol.
I know a few people who have started their own businesses and have done very well. I'm certainly envious. Some successes of my friends:
- Synergy Efficiency Solutions - Engineering The Future Today
- Meet Zameer — ZK (zameerkassam.com)
- Island Brands USA
- Our Purpose: We believe wine is personal - Firstleaf
Nope. Would have to have a real passion for the job to put in those hours.
As someone else said, depends on the alternatives presented to you. If you are in business / finance / law though and make that much from 80 hours of work then you almost certainly can make around half of that on a normal 40 hours of schedle. 175k /yr affords you a very good life in 95% of the country, and that is one income. If your spouse works a decent job then wow you arent too far off from scenario in OP and actually can afford a life where you take care of yourself physically, pursue other interests, have a healthy social life, travel, etc. If you pride yourself on having a stay at home wife then you can afford that on 175k a year as well
Different strokes for different folks though. But for me, after a certain amount the extra money only translates to a bigger number on a computer screen as I really dont care to buy luxury brand products at a premium. The ability to retire early has appeal, but if all you know how to do is work then when you can retire at 45 you might be scratching your head saying what next
Newsflash: the majority of people are lazy as shit and abhor hard work.
This doesn't apply just to banking.....there are mass shortages of truck drivers, electricians, HVAC guys, plumbers, oilfield and mine workers, etc. IB is unattainable for most people. These other jobs can be done by just about anyone and it's very very hard to find workers and especially good workers.
I would much rather have $175K working 40 hours a week. My WLB is way more important if I'm working for a big corporation and have no sizable stake.
It's only worth working 80-90 hours if you're your own boss pulling 350K+. A relative of mine works that type of insane hours and has a business that was recenly valued close to $10M. Plan is to eventually get acquired and I know he's the majority owner.
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