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Comment by patio11 | Hacker News Reader

Get a job at AmaGooBookSoft. Execute competently, getting the standard bonus and equity packages. Continue for 10 years. Congrats, you're a millionaire. [This was even easier for folks who joined Google / Facebook between the times when they were clearly unstoppable juggernauts and when they IPOed.]

Start a boutique consultancy with a buddy. Hire up until you get to ~8 employees. Continue for 10 years. Congrats, you're a millionaire.

Everyone knows the management consulting / investment banking career path, right? Congrats, you're a millionaire.

Go to med school. Specialize in whatever the high-demand fields are, like e.g. anesthesiology. Execute competently for 10 years. Congrats, you're a millionaire.

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Really? 10 years at one of these companies (AmaGooBookSoft) and you're a millionaire?

Yes. Within the first four years, a million dollars will have flowed through your bank account. By 10 years, somebody with a rudimentary ability to save money and a disinclination to purchase sailboats or lease BMWs should have a million dollar net worth after taxes.

It's a really good time to in history to know how to program computers.

So you're indicating a $250k salary, is that realistic?

Again, yes. You can choose not to believe that, but it's not in your best interest to do so.

The market really is this good.

Anyone have a link that backs this up?

You might have to live in the heart of the housing bubble to get that salary. A colleague who was very gifted at JavaScript was offered a job at Google but he was coming out behind after the increased living expenses.

Or one can choose to believe actual data (see: published Visa related salary info, various government surveys, etc.), which indicates the average salary for these companies is somewhere around $150k (give or take). Sure, throw in bonuses and equity grants and some employees might top $200k regularly. Some very high performers are also going to regularly break $250k. I doubt anybody would debate that.

Let's assume the "big" guys (Google, Facebook, etc.) regularly pay average total compensation around $250k, so that patio11's remark is correct. So what? As many employees as they employ, they represent a small fraction of the number of people who are very well qualified programmers and engineers. Their salaries are by no means common. The market is good, but it's not that good.

You don't need a $250k salary to save $1mio in 10 years.

My rudimentary calculation shows you need to save ~50k in the first year, get 4% raises, keep expenses constant, and get a 5% return. Bonuses, options, etc are on top of that. Also, you could get step-raises in the middle for bigger promotions. And, you could marry someone doing the same thing and get there faster.

It helps if you buy property. If you can mortgage up and buy $1m worth, in 10 years it'll be worth $2m+. Sorted.

Ages 22-32, probably not. 32-42, I would say definitely. Somewhere in between -- it depends.

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