Are you still in the top 10% of earners?

[neurosis]

I remember back on the emc off topic we were having a conversation about who pays the most taxes which was the top 10% of earners in the US.  I'm going by memory, which isn't very good anymore, but weren't most of us in the top percent at that time.

Are you still in the top 10%?

https://www.investopedia.com/personal-finance/how-much-income-puts-you-top-1-5-10/#:~:text=Top%20earners%20across%20the%20United,%2C%20New%20Jersey%2C%20and%20Washington.

[neurosis]

Maybe it was the top 20%?  Here is the breakdown for 2012

I'm trying to remember how long ago that conversation was and what percentage we agreed that most of us were in at the time.  I know it was over 10 years ago.

[Jeff]

Top 10%? What machinist makes minimum $80/hour? I'll send them my resume!

[neurosis]

Top 10%? What machinist makes minimum $80/hour? I'll send them my resume!

You and me both.  lol.  It must have been the top 20%.  It's too bad all of that history on emc has been deleted. 

I think that conversation was in around 2010-ish.  I asked the question because I noticed that $30 an hour in 2010 would be worth 1/3 less in today'd dollars. Did trade wages keep up with inflation? 

[JParis]

Getting there 

[Jeff]

Did trade wages keep up with inflation? 

If you ask my boss, yes.
If you ask my bank account, hell no.

[neurosis]

Getting there 

I'd have to work a lot of O/T. 

[neurosis]

If you ask my boss, yes.
If you ask my bank account, hell no.

Just to make this sound even worse-

When I started at this shop I was underpaid by about $10 an hour.  I was willing to take the hit in pay for the programming opportunity.

As the years passed it started to pay off.

As more years passed, I put todays wage in to the inflation calculator and realize that I'm no better off than I was when I started here in 1995.   

[JParis]

I'd have to work a lot of O/T. 

I have been lucky I guess, I have been a salaried employee in one position or another since 2007...in that time I have rarely ever had to work more than 44 hours.

So many people have horror stories about going onto salary. The reality of those, many any way, is they took salary in a position, that by definition, is not an "Exempt" role.

I always tell everyone making the jump to a "legit" salaried role to figure out what salary to ask for based on you actually having to work 47-48 hrs a week.

[neurosis]

So many people have horror stories about going onto salary. The reality of those, many any way, is they took salary in a position, that by definition, is not an "Exempt" role.

The old shop foreman here was a good example of that.  He changed over to salary for more money and better benefits. His time spent at the shop was well over 50 hours a week. He was expected to come in on weekends if we had a hot job and a weekend crew was needed, he had to stay late of other employees had to stay late. 

I'd hate to see what his hourly wage would have been. I'm guessing that he was the most underpaid employee in the shop.

[JParis]

I'd hate to see what his hourly wage would have been. I'm guessing that he was the most underpaid employee in the shop.

That's a tough role to be in for sure. There is no doubt in one way or another he was taken advantage of by the company.
He either didn't want to rock the boat or didn't know better but my "guess" is that his role was not an actual "exempt" role, that's a whole different discussion.

That is a good example of how people get abused.

[gcode]

On straight time no.
With the OT I've been working yes... for the last couple of years.
Filing jointly with  Mrs Gcode we are in the top 5%.
Doing our taxes every year makes me wonder if it's worth it.

[neurosis]

That's a tough role to be in for sure. There is no doubt in one way or another he was taken advantage of by the company.
He either didn't want to rock the boat or didn't know better but my "guess" is that his role was not an actual "exempt" role, that's a whole different discussion.

He lived 3 blocks from the shop and he knew the shop owner since they were both teenagers or early 20's.  I don't think the guy had much of a personal life. That's no excuse to allow yourself to be taken advantage of. And in my opinion, he was.  I think that he was hoping that when he hit retirement he would get a big bonus for his efforts. 

Fast forward to his retirement, the shop owner died of cancer and his son took over the shop. He (the son) didn't appreciate those efforts and basically pulled the carpet out from under the guy. He ended up leaving with next to nothing after all those years of dedication. If you talk to him, he doesn't come across as being resentful.  If you talk to his son, who worked here too, he wouldn't piss on the current shop owner to put him out if he was on fire.   

[Brad St]

Years ago I asked my manager at the place I was at to put me at the to of the pay scale. I'd accept a decrease every year after that instead of a raise if they would.

The look on that guys face was hysterical, "why...why would you do that to yourself" he asked.

"Cause I can't guarantee tomorrow I said and if I can put more money away today for tomorrow then I don't have to work as long" was my reply.

needless to say it never happened, I did however get a really good raise =)

[JParis]

If you ask my boss, yes.
If you ask my bank account, hell no.

I'll tell you, you're correct, it has not.

In the early part of 2007, my last hourly role, I was making $33/hr. at that point just programming.

So many places are still paying that amount, or trying to any way. Daily I see roles for exactly what I was making 17-20 years ago.

Either I was grossly overpaid then or many shops haven't budged on their offered salaries but much, if anything at all.