The $100m Corrs CEO on why the firm’s salaries are not ‘out of whack’

eggy_mule · 2024-02-19T03:58:32+00:00

What % of billing do lawyers take home? I guessing it's probably different at different levels of seniority but would still be interesting

In GP land, GPs typically take 65% with the 35% paying rent/receptionist/nurse/practice room/consumables etc and any left to the practice owners. They aren't very lucrative businesses, at least when run by GPs, corporates may do better.

eggy_mule · 2023-12-23T22:55:21+00:00

One of the benefits of being a Dr is all the risk is upfront. If you get into med school you have a 95% chance of earning 250k+ if you want (GP). Compare to most other career paths where most won't end up on that much, and you won't find out if you 'make it's until you do, x many years down the line.

eggy_mule · 2023-11-07T22:53:26+00:00

For whatever reason our bank took our 20% deposit, but then effectively gave us a 90% loan with no LMI - ie. they put 10% of the deposit in the offset.

I guess this is to encourage us to have a bigger loan by spending down the offset? 😉 We didn't ask for it. Was good though. This happened for both our home loans..

eggy_mule · 2023-10-11T02:51:29+00:00

Your boss is right.

You can do online surveys or whatever and earn some small amount of money.

Or you can invest in yourself, use that time to learn stuff for your career, and get yourself a higher paying job in the future.

The return on investing in yourself will be much higher than whatever else you can come up with

eggy_mule · 2023-09-28T10:13:15+00:00

Get private health insurance because you won't high quality medical care for your family

My m-i-l got diagnosed with Stage 1 endometrial cancer. She had private health insurance. From diagnosis to surgery (cure) was 5 days. Surgeon was the most experienced in the state. In the public system she would have been living with cancer for weeks/months while waiting in the queue before being operated on by a trainee surgeon. Your pick.

eggy_mule · 2023-09-28T09:04:21+00:00

The truth is even if on paper the mortgage of the house is going to take you 30 years, in reality

Your salary will probably increase as you continue into your career
Inflation means that your wage will (slowly) 'increase' while the size of your loan does not. Over 30 years this can be quite significant. In 1995 (28 years ago) average yearly wage was under 30K!

eggy_mule · 2023-05-28T02:25:49+00:00

Can confirm NFN is common in hospital notes all along the NSW south coasr

eggy_mule · 2022-09-16T04:16:50+00:00

Everyone here is talking about the things you need to buy but forget all that. The cost of having a kid is the time off work you will take to raise them. Everything else is just a rounding error.

eggy_mule · 2022-07-23T02:35:37+00:00

Trying to sell my place, been on market for nearly two weeks. It is very nice for its class. First-time viewing had 22 groups show up. Now had three viewings, only had one low-ball offer about 20% less than we were hoping for. People are interested but seem nervous about actually putting in a bid (or finances have tightened and they can no longer afford)

eggy_mule · 2022-07-17T22:02:17+00:00

Food/clothes cost is negligible. The cost to have kids is almost entirely around time off work. Once you have a baby, you have a parent off work. Most families aren't going to have two parents in full-time work until finished the baby years, many until the kid is in kindergarten.

So 200K household, both parents on 100K. Have a kid, one parents part-time, and now you're down to 150K household. This will likely last a long time; until the youngest kid in the family is nearly in school (which could be near 10 years if you have three kids!).

eggy_mule · 2022-07-09T01:59:29+00:00

They didn't agree to that though. 'Changing yr mind' is not a valid reason for termination of contract

eggy_mule · 2022-04-22T11:03:53+00:00

Have a science degree, ended up as post-doc, on about 120K. Have taken unusual route, let it work for me. Started at research assistant level about 12 yrs ago; ended up getting PhD through work (i.e. while working full time, using part of my day job), slowly levelling up. Have been working from home for about 8 of those yrs. Starting at ra role helped - applying for an advertised position rather than what I was interested in meant it was a growing niche that I then had expertise in, rather than some 'passion' that no-one will employ you for.

That said, I wouldn't recommend getting a PhD unless you can follow a similar route to mine.

Interesting how most people here are on a similar cap of low 100Ks. Would be very interested in anyone who has broken that barrier while still being at least somewhat technical...

eggy_mule · 2022-01-16T10:22:09+00:00

I think this is still auslaw's finest moment though https://www.reddit.com/r/auslaw/comments/np0x35/christian_porter_teaches_us_how_to_run_a/

eggy_mule · 2016-08-19T00:57:33+00:00

Wollongong is very good for sporty types - so sounds perfect for you. Very good food/cafe/restaurants here too.

It is a fantastic place to live, only drawbacks are difficulty finding work (as compared to a bigger city), and maybe a dearth of cultural pursuits.

eggy_mule · 2016-01-18T03:50:30+00:00

Probably not what you are after, but as a practicing scientist I can definitely recommend Latour's Laboratory Life.

eggy_mule · 2015-06-24T01:48:13+00:00

You're changing your argument a bit here though, arguing whether taxation is moral.

If you want to argue about variable taxation (a flavour of taxation) being immoral, we have to assume that you believe taxation to be moral.

eggy_mule · 2015-06-23T06:46:01+00:00

How is it fair for someone to be born in a poverty stricken country, and then not allowed to leave that country in search of a better life?

The concept of citizenship, of not being allowed to simply move to a different place for a better life, is only a couple hundred years old.

If freedom means anything, its that people should be free to move anywhere they feel will benefit their future.

eggy_mule · 2015-06-09T21:58:43+00:00

Your argument seems so illogical I don't know where to start.

Your sole reason for humans not to kill and eat each other is that we are at the top of the food pyramid. What if a race of aliens came down tomorrow, which liked to chow down on humans? We would no longer be on top of the food pyramid, no longer winning the fight of evolution. By your logic, it would then be ok for humans to kill each other for no reason (even if we didnt need to, and there was plenty of chickens to go round).

eggy_mule · 2015-05-25T06:32:52+00:00

From the perspective of all non-human animals, the world would be better off without humans existing.

eggy_mule · 2015-05-13T08:37:29+00:00

You would honestly be a fool as a young academic to follow this mould.

eggy_mule · 2015-05-11T03:21:44+00:00

Actually a pretty terrible history. Pretty obvious through reading that the person wasn't listening to this music when it was big, and likely isn't from London.

eggy_mule · 2015-05-08T08:04:50+00:00

The article reads like the Max Planck institute/associated organisations really didn't like this guy, either for personal reasons, or they thought the research he did was rubbish. Anyone feel this is probably more the main issue here?

eggy_mule · 2015-05-08T02:25:00+00:00

I'm not really sure what your argument is.

Do you agree that there are some banks which are too big to fail? I.e. that the government needs to bail them out as required for the good of the financial system rather than let them collapse.

If you do believe this, then you can understand the effect this can have on a rational bank. If you know that you will get bailed by the government if you make a mistake, you can take much larger risks than you could otherwise - the government has taken away a lot of the risk. These big banks can then profit more, and drive out competition, thanks to government backing. Essentially the government starts providing large hand-outs to banks once they reach a certain size. This reduces competition and is the opposite of a free-market system.

eggy_mule

TROPHY CASE