The Path to Increasing Income in Different Career Decades

Starting off as a young adult, it's reasonable to make a 10x increase in income over the first decade of your career and another 10x jump over the second decade. Industry selection and hard work play a big role. Going from $60,000 to $600,000 in a decade is doable, with strategic shuffling, self-promotion, and seizing opportunities. Moving from $600,000 to $6 million a year is possible in an industry where you're directly rewarded for effectiveness. Predicting the pathway becomes difficult for a $60 million salary, but some have achieved it. The formula breaks down after three iterations, with many earning multi-seven figure salaries. While not a perfect description, it's a useful mental model to focus on what we can control.