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7 figure salaries by 26

deferred.deferred. Registered User Posts: 147 Junior Member
edited June 2005 in Business Major
In the movie, a marketing whiz was taken up and put at the head of a whole marketing department at age 26. I mean I know that this was all through conections, but he was making millions? It didn't really say but he bought a porshe. Is that actually possible without the connections? I mean even with the connections it seems improbable. A 26 year old making millions in a business career? The only ones I've heard of are the ones that are traders that are incredibly smart and lucky.
Post edited by deferred. on

Replies to: 7 figure salaries by 26

  • 3togo3togo Registered User Posts: 5,233 Senior Member
    edited May 2005
    Generally speaking the people who make millions in business at a young age are people who founded companies ... for example, the founders of Google. Compensation packages that total $1M/year in coroporate america are pretty rare ... very senior execs (CEO, etc) and big-time finance types.
  • jpps1jpps1 . Posts: 1,993 Senior Member
    I also find it hard to believe that the head of MARKETING was making millions at 26.

    By the way, you don't need to be making millions to buy a Porsche. And what "movie" are you talking about?
  • sailasaila Registered User Posts: 202 Junior Member
    I believe deferred is referring to 'In Good Company'.
  • ilabcurious1423ilabcurious1423 Registered User Posts: 372 Member
    yea most salaries are not in the millions. I mean CEOs of most companies like that would probably make about 400-500 thousand a year.He would have to ownpart of the companieorsomething.That kind ofincome usually would fluctuate.
  • mahras2mahras2 Registered User Posts: 1,977 Senior Member
    Become a star trader. Open your own hedge fund. Trade your personal account. Not easy, many people think its by born, still these guys make millions.
  • Lbtg47Lbtg47 Registered User Posts: 411 Member
    invent something that solves a world need
  • rajkumar86rajkumar86 Registered User Posts: 30 Junior Member
    forget college, forget investing...cure cancer and your set for life
  • TonyLTH12TonyLTH12 Registered User Posts: 783 Member
    or cure aids
  • a-bomba-bomb Registered User Posts: 496 Member
    or threaten the world with aids! :P
  • Romo1Romo1 Registered User Posts: 202 Junior Member
    Its hard but not impossible.

    " yea most salaries are not in the millions. I mean CEOs of most companies like that would probably make about 400-500 thousand a year.He would have to ownpart of the companieorsomething."

    No, that's incorrect. A few weeks ago I was listening to the radio and on a news break it mentioned how the average CEO makes nearly 4 million dollars yearly. Not including stock/expense packages. It was a stat released by forbes or newsweek or some big news agency, so I'm not making it up.

    Actually, there are some careers in which it is possible to make that much money where you don't start your own business. For example, IBankers can make nearly 1M after five or six years in the business... probably the same for consultants.

    If someone is that greedy then I'm sure it can be done other ways also... but it is pretty uncommon that someone make so much money after only four or five years of work experience.
  • BigRed25BigRed25 Registered User Posts: 577 Member
    ilabcurious1423 is correct. most ceo's have base salaries that are 6 digits. it's the bonus that reaches the million dollar figures. For example, my dad works for morgan stanley and he told me that the ceo of the company makes around 800,000 a year in base salary. but gets around 5-10 million in bonuses alone (not including stock options and such).
  • Romo1Romo1 Registered User Posts: 202 Junior Member
    Back to the original question dealing with the possibility of a seven figure salary, even though an average CEO's "base salary" may not be 7 figures, his/her total salary (inlcuding such things as bonuses and stock options) is over one million dollars. Besides, when somebody asks for the average salary of a job they don't ask for the "base salary" but the average total salary.
  • taffytaffy - Posts: 2,356 Senior Member
    how hard is it to leave college and have a starting salary of $75,000+? with a business degree
  • nomadnomad Registered User Posts: 1,564 Senior Member
    in my opinion i awould be perfectly satisfied with a salary range between 150 - 250 k a year. At some point too much money makes money less valuable
  • USCwannabeUSCwannabe Registered User Posts: 290 Junior Member
    Making 75k is highly probable out of school if you go to a good b school and have a good personality
This discussion has been closed.