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Pay Chart: Are You Underpaid?
06-23-2014, 08:25 AM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
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Pay Chart: Are You Underpaid?
Quote:
If you ever wondered why your parents really wanted you to be a doctor, this chart serves as a good explanation.
Redditor Dan Lin took data from the Bureau of Labor to create a color coded, (very) long chart that breaks down how much different industries pay.
The chart also provides interesting information on whether you’re being underpaid in your field–you know, just in case you needed some fodder for leaning in to your boss this week. Click to enlarge for a closer look:
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This Chart Shows If You’re Being Underpaid - TIME
__________________
Numbers is hard
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06-23-2014, 02:57 PM
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#2
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Recycles dryer sheets
Join Date: Apr 2008
Posts: 223
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The writer doesn't understand opportunity cost, both economic and non-economic, hours worked, and several other things. When you control for these, the chart doesn't explain as much as the writer thinks it does.
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06-23-2014, 03:08 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
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Quote:
Originally Posted by inquisitive
The writer doesn't understand opportunity cost, both economic and non-economic, hours worked, and several other things. When you control for these, the chart doesn't explain as much as the writer thinks it does.
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Yeahbut...if he took the time to include all those factors he'd probably move over closer to that 25th percentile triangle for Financial Journalists.
__________________
Numbers is hard
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06-23-2014, 03:13 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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The author only compiles the statistics from the Bureau of Labor. How do you blame him for these data points?
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"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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06-23-2014, 03:15 PM
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#5
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Recycles dryer sheets
Join Date: Apr 2008
Posts: 223
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lol at ReWahoo's point
I didn't criticize the data points, I criticitzed his interpretation of the data points.
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06-23-2014, 03:41 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Nov 2013
Location: Bay Area
Posts: 2,745
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Oops, I am overpaid for what I am doing. I am in "executive" job for lack of better matching job category.
Well, it's better being overpaid than underpaid ...
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06-23-2014, 03:51 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: North Scottsdale
Posts: 1,545
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I was overpaid for a long time. Which is exactly why I don't work anymore. But hey...I didn't set the pay rate, the market set the pay rate and I happened to be a beneficiary of it.
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FIRE'D in July 2009 at 51...Never look back!
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06-23-2014, 03:59 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Then, you must not be LBYM if you have not retired.
LBYM allowed me to ER even after working part-time for the last 10 years of my working life, with wife retired early and children in college. I could claim "executive" salary if I worked full-time, but I didn't. It would interfere with our travel schedule.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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06-23-2014, 07:10 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Jun 2014
Posts: 1,069
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I look at that and think, wow, did I do well for a guy with no degree. (or associated debt)
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06-23-2014, 09:12 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Ventura County
Posts: 1,431
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Thanks OP for making my day. Depending on which job title I use I range from substantially to ridiculously overpaid. Time to RE quick before I throw off the curve.
Seriously though, based on the compensation level and NW I've seen folks describe on this forum I think many here are way off to the high side of those charts. So either this forum samples a tiny ultrawealthy non-representative sample or, more likely, the methodology used to generate the chart fails to capture true compensation levels.
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06-23-2014, 09:14 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Jun 2010
Posts: 2,301
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I think the journalist is overpaid for putting up a huge unsearchable image.
And what the heck is a "mathematical technician"? Mathematicians are listed separately.
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06-23-2014, 10:11 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Feb 2013
Location: Toronto
Posts: 3,320
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Was probably a bit underpaid as an academic but definitely felt overpaid while in private practice - this chart agrees with that assessment.
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06-23-2014, 10:44 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Originally Posted by photoguy
I think the journalist is overpaid for putting up a huge unsearchable image.
And what the heck is a "mathematical technician"? Mathematicians are listed separately.
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Load the image with Mircrosoft OneNote , which can make the image searchable.
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May we live in peace and harmony and be free from all human sufferings.
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06-23-2014, 10:49 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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I am just a little bit over the 50 percentile - definitely not overpaid. I have forwarded the link to DD who is in college.
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May we live in peace and harmony and be free from all human sufferings.
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06-24-2014, 12:21 AM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2009
Posts: 5,307
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Quote:
Originally Posted by stepford
Seriously though, based on the compensation level and NW I've seen folks describe on this forum I think many here are way off to the high side of those charts. So either this forum samples a tiny ultrawealthy non-representative sample or, more likely, the methodology used to generate the chart fails to capture true compensation levels.
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Well this is taken from Bureau of labor statistics. I've read those before and they are pretty detailed. But, the thing to realize is that this is showing the median. I looked my profession (lawyer) and thought the median was really low. But, thinking about it, I realize that this wasn't just considered people like me at the end of my career. It was also including the people who just got out of law school (and, despite what most people thing, most people just out of law school don't make huge salaries). So, yes, I would imagine a lot of people here are at the higher part of various occupations because they have been in the field for a long time. So they aren't all that representative of the full range of people.
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06-24-2014, 04:32 AM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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I didn't see any surprises in the chart. As for MDs, there is a thread at bogleheads which discusses that all the years of training at relatively low wages and the high cost education are not necessarily overcome by the high wages. That is, some MDs are thinking they should have been computer scientists.
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06-24-2014, 05:05 AM
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#17
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Gone but not forgotten
Join Date: Jul 2012
Location: Peru
Posts: 6,335
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No complaints. Pay is what you agree to.
I even appreciate the $1/mo. that I receive for the 12 years I spent with part of my life on hold, in service to the US Army. I appreciate the experience, and my final promotion to Majority that came with my honorable discharge and transfer to the US Army Inactive Reserves.
Pay is not only money, but experience, and memories.
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06-24-2014, 05:25 AM
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#18
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Full time employment: Posting here.
Join Date: Jul 2011
Posts: 723
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I'm in the 75th percentile... not a bad place to be. I forwarded the link to my kids. Our oldest is headed down the path of software engineering (age 17) and the other is trying to figure out what he wants to do (age 14).
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06-24-2014, 06:20 AM
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#19
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Originally Posted by panacea
I'm in the 75th percentile... not a bad place to be. I forwarded the link to my kids. Our oldest is headed down the path of software engineering (age 17) and the other is trying to figure out what he wants to do (age 14).
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I forwarded the link to my DD. She still wants to continue her path of computer science.
__________________
May we live in peace and harmony and be free from all human sufferings.
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Pay Chart: Are You Underpaid?
06-24-2014, 07:54 AM
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#20
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,467
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Pay Chart: Are You Underpaid?
Gosh, I don't know if I am underpaid.
It didn't list the pay for a video game player and internet surfer who sleeps until late morning every day if she wants, and in fact does almost nothing that she doesn't want to do.
As for my pay when I was working, according to that list I was greatly underpaid, but then I knew that at the time. Benefits are a huge part of the compensation package for federal employees, so of course my salary was accordingly lower and that was fine with me. We all make our deals and then live with them.
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Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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