Watching my income compound with raises is pretty cool.
As of today, I have now grossed as much as I had grossed by:
- September 30th in 2011 (so two months ahead of last year’s income pace)
- November 30th in 2010 (so four months ahead of 2010’s income pace)
Assuming that I get a paycheck at the end of August, I will have then grossed as much in 8 months this year as I did in all of 2010. By October, I will have grossed as much in 10 months this year as I did in all of 2011.
Also pretty cool: my net monthly pay is now pretty much what my gross monthly pay was when I first started working full-time. That means that my gross monthly pay has grown approximately by the tax rate or almost 30%.
This is why growing your career is so important for your finances. The difference between a 4% raise and a 5% raise for me is now over $1,000 per year.
Growing your career also sucks for your sleep sometimes. After moving this month, I started working 12 hour days, so I haven’t really had some time to rest in a while. We’ve been really good about not working weekends – just working extra hours during the week, so at least I’ve had those two days a week to recuperate.
Readers, have you done the math on how your income has increased throughout your career?