Can some direct me or teach how promotions in jobs work? Specifically with engineering. We all know a lot of "high paying" jobs start off with a 100k salary. But people who make a million a year could have started out with 50k starting salary jobs, and somehow got more raises. I tried looking up maximum and medium salary, but even those arn't close to what these millionaires that started out with 50k jobs make.
Im confused how these promotions/raises work. What jobs would have lots of promotions, and what jobs would stagnate? Im guessing business jobs get the most raises, then doctors, then engineers based on what Ive heard over the years, but I still don't know why.
Im not going to change my career path based on the money, but still want to know how this works, so im prepared.
>>1247797
>Im guessing business jobs get the most raises, then doctors, then engineers based on what Ive heard over the years
Quite the contrary. You will always need a project lead in engineering. You will always need a higher level guy to lead a certain element. That's not the case with business. (No idea about medicine) They need much more people at a lower level than they need at a higher level.
>>1247801
that makes sense. always need a higher level guy, huh.
>>1247797
For the most part, people don't become millionaires by means of promotion or working for someone else.
>>1247852
is this where stocks and coin trading come in?
>>1248237
fact of the matter is the only real thing differentiating the upper middle class from the rich is that income for the rich mostly comes from capital gains
Engineer here. 10 years of experience says its entirely dependent on the company you are at, and how well you perform. And who you impress.
For example, I agree that engineering leads are always needed. But does your company need any more anytime soon? Is business booming, or is it just slow enough to keep you busy? And if there was mobility, have you shown yourself remotely capable of being an effective leader to others?
If you are lucky, without major promotions, you can secure 3-4% raises per year. In the meantime, the best way to move up is to get a masters degree (which does NOT guarantee your current company will acknowledge you for), make yourself invaluable to the company, and learn your people skills and get better at your job.
Ultimately, the best way to get pay increases is to change jobs. The one thing you and I have going for us is, there are engineering jobs everywhere. Having x years of experience and a degree gives you the balls to negotiate your salary properly going forward.
