Do you want to know how your salary compares with your friends? I have been asked a few times, “what is the average salary for my age?”. Coming straight out of university, me and my friends would often talk about salaries, bonuses and promotions after a few beers. Usually the differences weren’t that great, although they felt like it at the time!
But when people get into their 30s a gap, sometimes a significant gap, can form in everyone’s earnings. I tried not to, but I would occasionally compare my income to other people’s. Weighing up how much I thought this or that friend was earning. I didn’t realize though, that it actually doesn’t matter. Everyone has their own race to run! With that said, there are certainly trends that have arisen. Typical earnings by age:
- 22 – $30-40k
- 25 – $40-50k
- 30 – $60-80k
- 35 – $70-90k
- 40 – $100k
- 45 – $100-120k
- 50 – $120k +
Now of course there are exceptions to this. Lawyers at a top Japanese law firm for example will generally begin their career at around $150k, lawyers at top US firms could have total packages, if expats, of $250-300k. Yeah, not bad!
Another outlier would clearly be the tech industry. However in Japan the biggest disparity in pay is actually more at the senior level in tech rather than the mid levels. Much of which is the result of RSU (stock) payouts which can be incredibly generous if you choose the right company at the right time of their evolution. Meaning, the sooner you join, the better!
Now lets say however, you are a particularly hard working and ambitious individual, not working in one of these outlier jobs or industries. What would that look like?
- 22 – $30-40k
- 25 – $70-100k
- 30 – $120-150k
- 35 – $200-250k
- 40 – $300-350k
- 45 – $400-500k
- 50 – $500k+
This is completely achievable. If you choose a job and company that can allow you the career progression. Along the way of course, choosing the right company and boss will ensure you continue to push yourself and develop.
If this progression is not available, get everything from that job and make a move! So try not to worry about what other people are earning, focus on learning. Through your 20’s, 30’s and I would strongly suggest your 40’s as well, you cannot afford to stop learning and growing. Keep working hard, pushing yourself and don’t give up in the process.
