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Just wondering...

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Since I'm just a boy and still ignorant to the business industry and how the economy/life work.

I have a lot of things which I would like to know that are things that I don't understand to how it accordingly works.

Let me list things up.

1. From what I've heard from workers is that people who earns 5 figure salaries now are actually much safer than working as a 6 figure earner. Due to tax and inflation.

2. In the working world experts who are graduates of Culinary,IT,Tourism,etc. I heard people who gets in the job although they spent a number of years of their courses, are clueless by the time they get to their real job. but still they could work. Does that mean you could fake things out? And there are people who got in a high paying job which I would assumed to ranging at around 50-90k salary.

3. How do you look for your job and how do you exactly approach or sell yourself to get in a company?

4. If you purchase a car, what exactly are the different terms you have to abide?

5. How important is connections for you and how do you establish it in the working industry?

6. What exactly do you think and see as a different trait from people who actually earns a million money salary or just a 6 figure salary?


You see, I'm actually really ambitious. I have a lot of things in my mind that I want to make as a reality but I don't have the assets to do it. I want to own my lamborghini and a huge story house.

Actually I have more things that I want to know. I would like to update this thread but ugh.
 
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1. I'm not well versed in my knowledge of taxes, so I cant help with this one.

2. I'm not really sure what you are asking. When you first get a job you might not know everything that it entails. That is why being able to think on your feet and learn on the fly are such sought-after skills in the work world (imo).

3. Job boards, the internet, connections, word of mouth, there are so many ways to find out about jobs. I keep a master list of all the employment I have had over my lifetime and for each job I tailor the 'resume' to fit the job. Make yourself presentable and just be honest, people like honesty.

4. That is different in most states and countries.

5. In my opinion connections are everything. Surrounding yourself with successful people will make it more likely for you to follow suit. It is a great way to get a job or to get general help from someone who might know what they are doing better than you do. I personally wish that I knew connections were so important earlier in life.

6. This is pretty situational since there are so many ways to make money at this point. But the desire and motivation is key to keeping yourself working through all the hard times. Life throws a lot of shenanigans your way, It's the people that are able to adapt and move through it that succeed. It's hard to describe but those people who turn themselves into millionaires just have the drive.

Who knows if any of the was helpful, just my two cents. It definitely got me thinking a bit about my own future.
 
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Since I'm just a boy and still ignorant to the business industry and how the economy/life work.

I have a lot of things which I would like to know that are things that I don't understand to how it accordingly works.

Let me list things up.

1. From what I've heard from workers is that people who earns 5 figure salaries now are actually much safer than working as a 6 figure earner. Due to tax and inflation.

2. In the working world experts who are graduates of Culinary,IT,Tourism,etc. I heard people who gets in the job although they spent a number of years of their courses, are clueless by the time they get to their real job. but still they could work. Does that mean you could fake things out? And there are people who got in a high paying job which I would assumed to ranging at around 50-90k salary.

3. How do you look for your job and how do you exactly approach or sell yourself to get in a company?

4. If you purchase a car, what exactly are the different terms you have to abide?

5. How important is connections for you and how do you establish it in the working industry?

6. What exactly do you think and see as a different trait from people who actually earns a million money salary or just a 6 figure salary?


You see, I'm actually really ambitious. I have a lot of things in my mind that I want to make as a reality but I don't have the assets to do it. I want to own my lamborghini and a huge story house.

Actually I have more things that I want to know. I would like to update this thread but ugh.

1. Depends on the country you're working in and what their tax brackets are. In the UK the more you earn the more you get taxed. I'm barley know anything about this but basically the first ~£10k you earn is tax free (0%), from £10k-£32k roughly you get taxed 20% and you get taxed 40% from like £32k-150k...

So say you earn £36k as an example:
£0-10k = 0%... So you have £26k left to be taxed on
You're taxed 20% on £22k, so reductions = £4.4k
You're taxed 40% on (36-32k) = £4k, so total reductions on that = £800

I hope this makes sense? Please bare in mind these are rough estimates and only on income tax, we also pay national insurance here in the UK which is also a form of tax not included above. Also it's ALWAYS better to earn 6 digits over 5 digits. You might get taxed more, but you'll still take home more.

2. Unfortunately it is quite hard to get any job (except maybe within STEM majors) because the market is so oversaturated with graduates. More people have a degree now than ever and employers can afford to be very picky when it comes to who they want. As such you'll see a lot of graduates holding jobs in supermarkets stacking shelves because they can't get a job they want elsewhere.

Whilst this is fine, it means experience > qualifications. Sure both are important, but if you want a job in an over-saturated field good luck if you're just out of university because you're competing with hundreds of others, some of which will have either worked for years in the field or someone who's more charismatic than you. I wouldn't say graduates "fake it out", as they have the theoretical knowledge, it's just they don't always have the real world applications or knowledge to efficiently perform the job.

My advice if you planned on going into a job would be to get an apprenticeship if possible as that'll give you an experience within your desired field and it's not unusual for companies to pay for their employees training. So you could get a degree debt free (I chose this route). However if you do choose to go to university, don't waste your time just drinking, apply for work experience or internships! This will also lead into the next point.

3. It honestly depends on your field, but network! Get yourself on LinkedIn and connect with various people within the industry, do you know what job you want? If so work towards the qualifications you need and go above and beyond to get more of them, it'll make yourself seem all the more desirable.

Make sure you perform extra-curricular activities, because even within engineering, team-work is essential and driven into you every single day, I can't stress how important this is.

When you find a job you want or a company you want to work for spruce up your CV, don't pad it too much with the usual crap, google has so many links which are so helpful. But make sure no CV you ever hand in is exactly the same. Target it towards what the job position entails and relate to your field of study/experience. Make a paragraph on your notable projects you've worked on that could be transferrable. If you're part of any team within your hobbies let them know! Though obviously avoid the "about me" section i.e. "I like to read, I like to game, I am very sociable and hard working."

4. I am not sure what you mean by this point, but buying a car you can usually get by buying cash (all upfront), finance (down payment + monthly instalments with a interest rate) or a lease (you pay less per month with no down payment for a new car, but don't keep it at the end of the term). Obviously it's more economical to buy it up front and you'll save money in the long term. Do I need to go into why?

But sometimes it makes more sense to go for finance even if you can afford to buy it out right just to build your credit score up, which will help when looking for a loan or a mortgage. As it'll show the banks you can maintain payments by their due date... Same reason why it's good to get a credit card.

5. Contacts are very important. It'll depend on the industry you plan on going into honestly. Sometimes your hard work will speak for itself, but other times interviews are just a formality companies have to go through and already know who they want (unfortunately).

If you have to ask for help with this I can't really help you. But you make contact by working and studying, but most importantly by socialising and networking.

6. The big difference between millionaires and regular people is obvious. The three things you typically need are charisma, a very strong work ethic and the ability to take risks. Nothing else.

However, if you can provide a service no one else can or get lucky enough to discover or think of some revolutionary then you've struck gold.

Unfortunately the last part of your post completely contradicted the majority of it as it shows unwillingness. I'd be happy to give you my take on any more queries. But realistically if your only ambition is to own a Lamborghini and a nice house, you probably won't make it.

EDIT: You should also take note of the fact very few millionaires actually work for a corperation (i.e. have a boss)
 
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