The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Highest paid employees?

Galaxy16

Bronze Contributor
Read Millionaire Fastlane
Feb 4, 2018
300
145
85
24
Germany
Who are the highest paid employees?

I read somewhere that some jobs give €55000/$60000 monthly. Was that true?

Something about finances or banking employees? Maybe vice presidents? Or pilot captains?

Some jobs actually do not rely completely on time, but also partially on performance, but that is also limited.

Entrepreneurship Fastland has no income cap. :star::moneybag:
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Scot

Salad Dressing Empire
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 10, 2016
2,922
13,446
2,796
Florida
Ok, yeah sure, there are some jobs that pay well. My slowlane job pays pretty damn well.


But why does it matter what they pay?
 

Lord Business

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Feb 24, 2018
59
123
135
32
finland
tons of jobs - athletes, singers, c-level people, self employed, specialized doctors, lawyers ect. But so what? There are a lot fewer wealhty people with high salary than there are wealthy entrepreneurs.
 

bugsybunny

Contributor
I've Read UNSCRIPTED
Oct 2, 2016
13
23
17
There are lots of jobs that offer salaries that put everyone on this forum to shame.

But... they're limited to a select few.

Don't compare yourself to those people. It's not realistic. And you'll likely destroy any relationships you create in order to get them.

As far as I know, the jobs that offer the best bang-for-your-buck are: trades. And the more specialized your trade is... and the more others depend on it... the more money you will make.

What do I mean by 'bang-for-your-buck'... I mean... you won't have to spend the rest of your life paying off student loans.

Most of these trades are unionized. Meaning: you get the perks of having a good pension, benefits and in some cases, getting paid for hours you don't work.

For unionized trades, the hourly breakdown snaps into either 4 hours or 8 hours... and they can go as high as 16 (legally)...

So what does this mean?

It means you can go to a job, work for 15 minutes and go home with a full days pay.

These jobs have what's called a 'call-out'. A call out is an unscheduled shift. And with most good unions, you're paid 2x your hourly rate (aka double time).

At the end of the day you're still trading time for money.

But if money is your main concern, you won't value time anyways.

If you live in North America, the highest paying trades are -- in no particular order: Longshoremen... Elevator Technicians... Underwater Welders (although mortality rates are 7% or something stupid like that)... and... High Voltage Electricians (the work is dangerous... sometimes they work at heights, hanging off a helicopter... but it's mostly maintenance stuff).

Longshoreman is a gig that people would give an arm and a leg to get into.

Most of the guys that get into the union (there's a long wait list) only work 1-to-2 hours a day... they drink on the job (because you can't really get fired)... and they'll develop some sort of addiction in the process. Because most of them are uneducated... while the average salary is around $150,000.

The job consumes you. A lot of guys are paying multiple alimonies and are some of the most miserable people I've met. I don't mean that to be offensive. I just mean, they are depressed and sad...24/7.

The Foreman do even less work and their salaries are around $250,000-$500,000.

Elevator Technicians have a good gig. And since their job is mostly all call outs... you'd start off at $100,000+ right off the bat. And if you've been working for a year or two, you'll be making a quarter million a year.

It's a hard union to get into... but like all things in life... it's who you know.

For all of the jobs I've mentioned above, the work is dangerous for the most part. It requires physical strength as well. And all of the unions I mentioned above are very hard to get into...

However... it is pretty easy to get into a 'lower' paying gig with no experience. Brickies, Ironworkers, Rod busters, Welders, Carpenters, Scaffolders etc.

If you sign-up at your local hall (some will hire you off the street)... you can get dispatched to work at an industrial site overnight. And assuming you can handle working 10+ hour days for a full year... and working in a camp...

You're almost guaranteed a 6-figure salary in your first year.

Yes. In your first year.

I personally know a lot of guys that are currently making $100,000-to-$150,000 a year.

I also personally know guys that have made $180,000-to-$270,000 a year.

And I have a few friends who have made $25,000-to-$35,000 in a single month.

And then, even on the lower pay-scale, I know guys that are making $60,000-to-$85,000 while working only 30 hours a week.

I will say this...

You won't find too many people who are happy going to work, in any of those jobs.

It's because they are giving up their freedom.

If you can find a job that makes you happy, sustains your lifestyle, allows you to get away at least once a year... while giving you a little extra to save in case of a 'rainy day'... you're winning the 'highest paid employee' game.
 

GoGetter24

Gold Contributor
Speedway Pass
Oct 8, 2017
571
1,114
365
Various
Jobs of high-demand high-specialization, e.g. specialized surgeons, can get $1M / year no problem. Of course, it takes them heavy costs to get there, around 35.

Jobs with commissions allow the power law to come into play somewhat, so the top employees can reach the $1M / year magnitude too (guys in finance, sales, headhunting, etc). But the bottom workers get survival money, so it's kind of half-way between a salaryman and a businessman.

But both suffer from the same problem: they stop working, the money stops coming. Only owners can avoid that problem.

But I think the "just dump your job because it's a mug's game and start a business" mantra is too simplistic, and relies too much on survivor bias to retain legitimacy. Business follows a hockey stick return. It is as possible for everyone to have a passive income business, as it is for everyone to play in the NBA. That is: completely mathematically impossible.

The middle ground that bridges job to business needs to be discussed more. Even DeMarco mentioned it in his book: he was a worker in the limo business for about a decade. He also started a successful internet limo service. Coincidence?

We've all forgotten the old universal career: apprentice -> journeyman -> master. Only the masters, those who have reached high-level specialized skill and knowledge, could run a business, because only they knew the ropes. Only they knew what to look for in the market, and how to execute with high reliability.

Guys who think they're going to jump from an apprentice in making lattes to a master in ecommerce or trading, just out of sheer will, have drunk the survivor bias cool-aid.
 
Last edited:

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
29,366
101,817
3,751
Fountain Hills, AZ
True Story...

I've been shopping for a new home for a few years.

My search criteria is for homes as high as $15 million. Of course I don't expect to be buying a $15M house but I examine these homes for design ideas (I might build something).

Interestingly, when a expensive house comes up, costing millions, I always check the tax records to see who owns it.

100% of the time the owners of these mega homes falls into the following categories:

1) Athletes
2) Doctors/Surgeons
3) Entrepreneurs
4) C-Level Management of Public Companies (CEO's, also VPs, etc.)

I have yet to find any one owner that fell outside of this realm.

Granted, I've probably only examined 2 or 3 dozens homes, but this speaks volumes.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.


New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Sponsored Offers

Lex DeVille's - Advanced Freelance Udemy Courses!
-- HALLOWEEN SPECIAL STARTS TODAY! Get any of my courses at Udemy's current best price through Friday! Use code: HALLOWEEN Use any of the links...
Top Bottom