Your Biggest Jumps in Income

DonkeyKongSr · #1 06-21-2007, 12:54 PM

I recently was sought out for a position by a company other than the one I work for. They asked me what it would take for me to come on over to them. I threw out a number that would give me a 50% raise, thinking they'd negotiate down to another number I'd be perfectly happy with. They didn't blink. I've accepted the job, but now I wish I would have asked for more. Still, this is going to have a significant impact on my quality of life. This is money I wouldn't get at my current job probably even 5 years down the line. I didn't even think this money was avaiable in this industry (advertising) so soon in my career (less than 5 years). I was getting discouraged by my choice of careers, but this has given me new hope.

The one key thing it's going to do for me is I will finally be able to go from renter to homeowner within probably a year of saving. I'm almost 30 and it has sucked to be barely above even at this point in my life. This job will definitely get me way ahead for once.

So, my questions are...
- What is the biggest jump in income you've had? (not really talking about no job to first job, but if that's all you got, talk about it)
- How significantly did it change your life?

'Chair · #2 06-21-2007, 12:58 PM

34%...but I was severely under paid for my qualifications. I make average now. Congrats to you.

Quadstriker · #3 06-21-2007, 12:59 PM

Moving to a different state so I could keep my own tips instead of pooling them resulted in a 40% increase in income. I was really tired of busting my ass to help out the slackers.

Very significant.

BuckyK · #4 06-21-2007, 01:02 PM

Technically when I left my college job that payed $7/hr, to the job I had after graduation, that was a 350% increase. For income jumps in jobs after graduation, it was switching from my last job to current job. The increase was about 27% give or take. If you include the bonuses I receive in my current job, plus the fact that they pay all my healthcare premiums, the jump would be more around 40%.

oddjob · #5 06-21-2007, 01:05 PM

what exactly is your position in the advertising world? it can be quite the lucrative industry.

i went from making $20/hr at a small design firm as a designer, to going out on my own and making between $45/hr - $75/hr. this is all dependent on if you can find the steady work.

daryn · #6 06-21-2007, 01:06 PM

prob when i went from doing nothing to playing poker

samjjones · #7 06-21-2007, 01:06 PM

I've worked at the same place since I graduated college 10 years ago...might be time to look around.

DonkeyKongSr · #8 06-21-2007, 01:09 PM

[ QUOTE ]
what exactly is your position in the advertising world? it can be quite the lucrative industry.

i went from making $20/hr at a small design firm as a designer, to going out on my own and making between $45/hr - $75/hr. this is all dependent on if you can find the steady work.

[/ QUOTE ]

Media planning. It's where the money is spent, but typically not where the money is made. My new title will be Assistant Media Director. Considering how few years I have been working, I'm flying through this industry. I'm averaging more than a promotion a year. I feel like I am luckboxing my way through as I'm passing up people that have been working longer than me through timely job changes.

EDIT: Also I have heard that freelancing does pay really well in advertising. I know people who've taken $125/hr freelance jobs. The problem is keeping the work coming at you steady. But, if you could work 6 months at twice what you'd be making in a year, freelancing is a great option.

DonkeyKongSr · #9 06-21-2007, 01:11 PM

[ QUOTE ]
I've worked at the same place since I graduated college 10 years ago...might be time to look around.

[/ QUOTE ]

In my industry (and probably lots of others), the saying is "the best way to get a raise or promotion is to go somewhere else".

otnemem · #10 06-21-2007, 01:22 PM

I just recently moved from magazine editing to copywriting for advertising and got a 60% raise. I'm 25, and this is my third job in four years. It was a huge jump for me. Only problem is that I also jumped up to a new tax bracket, and my healthcare at my old company was free. So instead of a 60% raise in my take-home, it's more like 35%. [img]/images/graemlins/frown.gif[/img]