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How much money did you make in 2016? (1 Viewer)

How much money did you make in 2016?

  • 0 - $10,000

    Votes: 13 2.6%

  • $10,001 - $25,000

    Votes: 8 1.6%

  • $25,001 - $50,000

    Votes: 29 5.8%

  • $50,001 - $75,000

    Votes: 60 12.1%

  • $75,001 - $100,000

    Votes: 80 16.1%

  • $100,001 - $150,000

    Votes: 131 26.4%

  • $150,001 - $200,000

    Votes: 72 14.5%

  • $200,001 - $250,000

    Votes: 36 7.3%

  • $250,001 - $300,000

    Votes: 9 1.8%

  • $300,001 - $500,000

    Votes: 27 5.4%

  • $500,001 - $750,000

    Votes: 6 1.2%

  • $750,001 - $1 million

    Votes: 1 0.2%

  • $1 million - 2 million

    Votes: 7 1.4%

  • $2 million - 5 million

    Votes: 1 0.2%

  • $5 million +

    Votes: 16 3.2%
  • Total voters
    496
xulf said:
It depends on what your matching terms are, but for me, no.

I get a 100% match for the first 3% I put in, then a 50% on the next 2% I put in.  So, if I put in 6%, the company will match 4%.  The trick is that I have to be contributing 6% (or more) to get the full 4% match.  So, in my case if I have contributed $17,500 by the end of July, there is no way for me to continue getting the full 4% match the rest of the year because I cannot contribute the required 6%.  The most I will have matched in this case would be on the additional $500 I put in.  So, I am effectively leaving money on the table unless I time it out where I max out my contribution on my last paycheck of the year.

I also get 6% profit sharing, but that is paid regardless of contributions by me into the 401k.
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Yeah that sucks, the good news is in that scenario you are making $500k a year.   At my work, if we max out our 401k contributions for the year early we get a company matching contribution the next February for what the matching company contribution should have been for this year.

 
Oats has to be pulling in 3/4 million at least.  The only thing I don't understand (and maybe because I don't make that kind of scrilla) is if you take home $400k'ish per year, how you could have a $1.5M note on your house.  Unless the house actually cost $3M, then I totally understand it.  

 
James Daulton said:
Oats has to be pulling in 3/4 million at least.  The only thing I don't understand (and maybe because I don't make that kind of scrilla) is if you take home $400k'ish per year, how you could have a $1.5M note on your house.  Unless the house actually cost $3M, then I totally understand it.  
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Do you have any idea, I mean any idea of the cost of custom gloves.  Otis cannot just buy off the rack.  Presumably that means he has to custom tailor all of his pants as well.  I say presume because Otis and I are not that close.  I bet he spends my yearly salary just keeping his snake contained.

 
Weird irregular blip at the 300-500k mark. And still can't figure out if all those 5MM+ are shtick answers. 

ETA actually forget that. The 300-500 range is a big 200k gap while the one before it is just 50k. I bet the distribution actually works out more or less smoothly. But I'm no math wizard. 

 
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Otis said:
Weird irregular blip at the 300-500k mark. And still can't figure out if all those 5MM+ are shtick answers. 

ETA actually forget that. The 300-500 range is a big 200k gap while the one before it is just 50k. I bet the distribution actually works out more or less smoothly. But I'm no math wizard. 
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Being a math wizard doesn't really pay well.

 
Otis said:
Weird irregular blip at the 300-500k mark. And still can't figure out if all those 5MM+ are shtick answers. 

ETA actually forget that. The 300-500 range is a big 200k gap while the one before it is just 50k. I bet the distribution actually works out more or less smoothly. But I'm no math wizard. 
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The $5m answers are shtick. I'm sure we have some $5m net worth FBG's, but that's a serious amount of money to make in a year. Unless Drew Brees and Larry Fitzgerald are closer FGB :unsure:

 
kutta said:
The $5m answers are shtick.
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100%. I actually looked through stock compensation for all of the senior executives at my company 2 weeks ago (public information) as that is a huge majority of their package - Only 2 employees at my company clearing that, their titles? CEO and President. 

That's a lot even for a Goldman executive type position. 

 
I'd love to know what the 300-500k guys do.   That's pretty rarified air and we've got a pretty decent number of them on this board

 
Dentist said:
I'd love to know what the 300-500k guys do.   That's pretty rarified air and we've got a pretty decent number of them on this board
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Salesmen and lawyers.  Now if you'd have studied a little bit more and become an orthodontist, you too could have been at this level. 

 
$5 million + totally not out of the realm of possibility for hedge fund or private equity guys, or an investment banker.  I doubt we have that many of them though and most of those are shtick.

 
Dentist said:
I'd love to know what the 300-500k guys do.   That's pretty rarified air and we've got a pretty decent number of them on this board
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I'm one of those but I answered for household before scrolling down to see that it was supposed to be for me only. My wife and I combined are a little over $400K, split roughly evenly between us.

 
The average lawyer makes way less than 300k. Like a lot of things only the top earners probably climb that high. 

My pure guess as to what those people do would be that they're in some sort of sales or they own businesses.  

 
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Zow said:
The average lawyer makes way less than 300k. Like a lot of things only the top earners probably climb that high. 

My pure guess as to what those people do would be that they're in some sort of sales or they own businesses.  
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Man, that's a shame, we really should do something about this.  Lawyers contribute so much to our society that we really should do all we can to encourage an increase in their ranks.
 

:P

 
elbowrm said:
$5 million + totally not out of the realm of possibility for hedge fund or private equity guys, or an investment banker.  I doubt we have that many of them though and most of those are shtick.
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Yeah I doubt there are 15 people from this board making over $5 mill a year.  Although didn't someone from here invent the ShamWow?

 
elbowrm said:
$5 million + totally not out of the realm of possibility for hedge fund or private equity guys, or an investment banker.  I doubt we have that many of them though and most of those are shtick.
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Of course not, but even in that rare air, there are only handfuls up there. 

My good friend works for a hedge fund with about $500-600MM under management, 8 guys in total. Fund has been doing very well, he says the founder will clear $30MM this year and number 2 in command is about $3MM.

 
Zow said:
The average lawyer makes way less than 300k. Like a lot of things only the top earners probably climb that high. 

My pure guess as to what those people do would be that they're in some sort of sales or they own businesses.  
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I agree. When you get other people working for you, it's not super difficult to get to $300k.

 
fantasycurse42 said:
Of course not, but even in that rare air, there are only handfuls up there. 

My good friend works for a hedge fund with about $500-600MM under management, 8 guys in total. Fund has been doing very well, he says the founder will clear $30MM this year and number 2 in command is about $3MM.
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My guess, start of the year, your friend's firm had $400MM Assets Under Management (AUM).  Closing the year, AUM is now $600MM, meaning the fund had an incredible year, +50% at least to get $200MM in profits.  Not unheard of, but also not very common.  50% years are generally an outlier, but I've been a part of 2 of them in 17 years.  It's pretty sweet.  The General Partner charges 20% performance fee, which on the figures above would be $40MM.  Bonus out the other portfolio manager, the analysts and the back office and the take home for the GP at $30MM sounds accurate to me.



 

 
James Daulton said:
Salesmen and lawyers.  Now if you'd have studied a little bit more and become an orthodontist, you too could have been at this level. 
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Any of the specialties actually.

I know plenty of regular dentists that make north of 300k, but they often have dentists under them, work in multiple locations, or are in such rural areas that they just clean house by having an open door... or they work their bum off marketing and courting the highest end patients.

I think I could make that type of dough...  but sadly I'm too lazy and good enough has been the enemy of great for me.

 
I have been extremely negligent in planning for retirement - but had worked at a major financial institution for 16 years before switching to my current gig 7 years ago.  While at my previous job I had put 3% of my income into a 401K which was matched by my employer.  Did that for 16 years - forgot all about it.  Last year finally got around to rolling over the 401K to my new company and was pleasantly surprised it had grown to $170K...what a nice surprise.  So was all happy about that until I found out by age 40 I should have 4 times my salary in my 401K and I am 48 with just a little over twice my yearly salary.  I've got some catching up to do if I ever plan on retiring.

 
Well, it's looking like I'll be almost back to pre-almost dying compensation with my new Dallas endeavour - and my wife will likely/hopefully be able to make up that delta as she's earning more than 2 years ago. 

Taking into account no State taxes and cost of living and we actually may be better off bottom line! Even better that we can get rid of one of our cars which is an addition 10-12k a year and thank god 2015 and 2016 are ovah!

Thanks a lot, Obama. 

Trump paying dividends already! 

 
5m plus is serious bank. I would be shocked if we had more than 2 of those here. I had a great year as an equity partner at a very large NYC law firm and only a handful of rainmakers make that kind of coin. 

 
Mr. Know-It-All said:
I have been extremely negligent in planning for retirement - but had worked at a major financial institution for 16 years before switching to my current gig 7 years ago.  While at my previous job I had put 3% of my income into a 401K which was matched by my employer.  Did that for 16 years - forgot all about it.  Last year finally got around to rolling over the 401K to my new company and was pleasantly surprised it had grown to $170K...what a nice surprise.  So was all happy about that until I found out by age 40 I should have 4 times my salary in my 401K and I am 48 with just a little over twice my yearly salary.  I've got some catching up to do if I ever plan on retiring.
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Very few folks making decent money have 4X their salary in a 401K. Even for those with decent retirement assets it's going to come after accumulating non 401K stuff. The money run is in your 50's. Hoard it

 
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