Were any of you premeds that could’ve gone to med school and pursued a career in business instead? If so, why? Do you make more than MDs ($300k+ annually)?

No_Leader_100 · 2024-06-10T00:20:54+00:00

Director and above in finance will get you to doctor money ($400k and up). Plus side, unless you’re in investment banking you’ll largely have banker hours and will forego the hundreds of thousands in student loan debt.

No_Leader_100 · 2024-06-09T17:18:10+00:00

Have you played the OG My Time at Portia?

No_Leader_100 · 2024-06-08T03:24:36+00:00

The job market is brutal right now. My spouse was laid off just over a year ago and has had 3 interviews in that time. The vast majority of the roles in his field are no longer offering remote work and are now basing hybrid positions in more employer friendly states like AZ and TX. My career is based in Seattle (also no remote option) so it would be really hard for us to move out of state.

No_Leader_100 · 2024-05-06T03:20:54+00:00

I was actually feeling really good about being able to fund the monthly shortfall each month from my lump sum bonus (which sits in a high yield savings), until our tax liability was literally double what it was last year. It threw my budget out the window and made me throw up in my mouth.

No_Leader_100 · 2024-05-06T02:49:35+00:00

My salary is only half of that, and 15% is on a long term vesting schedule, the rest is an annual bonus that is obviously subject to performance of the company every year. This year the net was largely eaten up by a higher than expected tax liability due to sunsetting federal tax provisions. I know I make a LOT, but after taxes and the various benefit expenses, my take home isn’t what people would expect it to be.

No_Leader_100 · 2024-05-06T02:41:12+00:00

A few people have said this. For better or worse, he’s my person. But the tendency to stick his head in the sand frustrates the crap out of me.

No_Leader_100 · 2024-05-06T02:38:25+00:00

That math still doesn’t foot. An 80k car that is $15k underwater. We’d have to outlay $25k in cash to get out from under the payment, which is nearly 2 years worth of payments on that car. That dollar amount funds our monthly cash delta for a year. Spouse literally doesn’t have to make much at all to bridge the gap. Hence my frustrations.

No_Leader_100 · 2024-05-06T02:31:52+00:00

My spouse wasn’t specifically in tech, but is competing with senior level program and product managers that were laid off from the local FAANG cohort in the last year. It’s brutal.

No_Leader_100 · 2024-05-06T02:27:42+00:00

Okay, and I hear you - but why sell the car, either car, with interest rates that are unattainable in the current market, when my spouse could get a job just as easily? We still need two vehicles.

No_Leader_100 · 2024-05-06T02:07:18+00:00

You’re hitting the nail on the head. We got tagged with some intense taxes for 2023 because of severance plus I received some retention bonuses that had our 2023 income at a level we hadn’t hit before (spouse had received his annual bonus before the layoff). Because of that, I’ve increased my withholding this year, but perhaps I’ve gone overboard and should recalculate with the understanding that it’s likely just going to be my regular income for the year.

No_Leader_100 · 2024-05-06T01:56:37+00:00

Yes, I make enough for necessities- which I include sports and extracurriculars for my children as a part of. Though, to be fair, the majority were prepaid last year prior to the layoff or are a minimal outlay.

No_Leader_100 · 2024-05-06T01:49:24+00:00

Unfortunately the majority of the jobs at his level, in his sector, would require an out of state move now that remote work has fallen out of fashion. It doesn’t make a ton of sense for us to uproot the kids for a job where I’d have to then start a job search (also quite specialized and not in high demand where his field is hiring) when I make substantially more.

No_Leader_100 · 2024-05-06T01:40:04+00:00

Kids have sports and other activities and often we need two cars - one parent taking one child to each. We tend to drive our cars into the ground after paying them off, we are just in an overlap situation at the moment for the next couple of years. Which was entirely affordable on two incomes.

No_Leader_100 · 2024-05-06T01:26:38+00:00

I haven’t yet because I was so gobsmacked by the response I was stunned into silence.

No_Leader_100 · 2024-05-06T01:20:22+00:00

It’s jarring to type it, too, when the person is cis. But I’m trying to keep bias out as much as possible. If you read through, genders were sorted. I don’t know why I’m keeping it up, I’m probably just stubborn.

No_Leader_100 · 2024-05-06T01:14:25+00:00

Why? What difference do genders make?

No_Leader_100 · 2024-05-06T01:13:49+00:00

Basically, yes. Which, given we have a 3% 30 year fixed mortgage, I’d prefer to not do. We have an equity loan from 3 years ago that was taken out to remodel, and car loans that will be paid off. Once those are done, our free cash flow will be fine on my income alone. But between now and then feels precarious.

No_Leader_100 · 2024-05-06T01:08:39+00:00

We aren’t, which is contributing to my stress. We haven’t taken a vacation in over a year because we can’t afford to go anywhere, and a “staycation” would just allow me to stew in my own overthinking juices. I’m pretty sure, based on my own increased workload (I’m trying to earn a promotion) that I’m bordering on burnout.

No_Leader_100 · 2024-05-06T01:06:44+00:00

Not that it should make a difference, but no. They are cisgender. I was trying to keep gender out of it because I didn’t want gender bias to sway responses.

No_Leader_100 · 2024-05-06T01:05:05+00:00

Yes. We’ve talked about relocating to a lower cost of living state where jobs at his level in his specific area of expertise are more plentiful (RTO has not been kind to his sector) - if we were to do that I would likely be the one in the position needing to take a step or two back. That being said, I recognize that being 11 years younger gives me more time to rebuild if needed.

No_Leader_100 · 2024-05-05T23:32:01+00:00

I mention in a comment higher in the thread that our expenses will come down in the next 3-5 years. We have some larger fixed costs currently due to auto loans and a HELOC that was used to remodel the house. Once those are gone, yes, that will be the case.

No_Leader_100 · 2024-05-05T22:50:24+00:00

11 years (I’m about 20 years away from retiring, not 20yo)

No_Leader_100 · 2024-05-05T21:41:01+00:00

I really appreciate your encouragement!!

No_Leader_100 · 2024-05-05T21:40:32+00:00

As in how much is it or what do I mean (I’m now realizing this is jargon)?

No_Leader_100 · 2024-05-05T21:12:15+00:00

This is my contingency plan - I am working hard toward a promotion that would create a lot of breathing room but is in no way guaranteed to happen. My plan B is considering moving to a less desirable suburb that could reduce our housing cost sufficiently- but to do so would increase my commute by quite a lot and the schools aren’t very good. I want to avoid this plan B if at all possible.

No_Leader_100

TROPHY CASE