Earning Big Money

liam650

Ok so this might sound a bit out there but how do you get to the stage where you are earning about 1000 a week after tax while working 40 or less hours a week? I see everyone stuck on the 330 - 500 a week max after tax in all sorts of jobs and can just claim welfare and earn the same amount on that, so any business people here can you guide me on it? how to make big money legally, on a consistent basis

Stheno

liam650 wrote: »

Ok so this might sound a bit out there but how do you get to the stage where you are earning about 1000 a week after tax while working 40 or less hours a week? I see everyone stuck on the 330 - 500 a week max after tax in all sorts of jobs and can just claim welfare and earn the same amount on that, so any business people here can you guide me on it? how to make big money legally, on a consistent basis

Eh well firstly on welfare you'll not get anywhere near 330-500 a week net if you are a single person.

Someone earning 1000 a week net as a single paye worker would be earning a gross salary of about 82500

Generally they would be fairly highly qualified and experienced individuals, and the standard 40 hour week would long be a thing of the past.

What exactly are you trying to figure out here? How to work a 9-5 job and earn lots of money?

ubermick

I was going to say head of a crime syndicate, but keeping the boys in line might be too much work for you.

liam650

Stheno wrote: »

Eh well firstly on welfare you'll not get anywhere near 330-500 a week net if you are a single person.

Someone earning 1000 a week net as a single paye worker would be earning a gross salary of about 82500

Generally they would be fairly highly qualified and experienced individuals, and the standard 40 hour week would long be a thing of the past.

What exactly are you trying to figure out here? How to work a 9-5 job and earn lots of money?

basically how to start on the road to earning serious money, im nearly finished a degree in business management and so far all i see is an internship with fas an extra 50 quid a week on top of dole, wheres the big time

Nody

liam650 wrote: »

Ok so this might sound a bit out there but how do you get to the stage where you are earning about 1000 a week after tax while working 40 or less hours a week? I see everyone stuck on the 330 - 500 a week max after tax in all sorts of jobs and can just claim welfare and earn the same amount on that, so any business people here can you guide me on it? how to make big money legally, on a consistent basis

By putting in significantly longer hours at the start; you're looking for a 80k+ job and on top of that 40h max a week. Let's say those type of jobs are not exactly common (now if you removed the 40h a week maximum you'd have a wider scope of roles in various London banks etc.)...

endacl

Get qualified in something you can charge 70-80 an hour for. Do a 15-20 hour week. Work for yourself.

Done.

prinzeugen

Start at the bottom and work the way up.. Its called work for a reason.

Too many people expect big bucks because they have a qualification.

Get experience by doing crap, and shine when you can.

I got noticed and get good money now (part-time).

StringerBell

You might want to learn patience and forward, long term thinking and planning in that case.

Stheno

liam650 wrote: »

basically how to start on the road to earning serious money, im nearly finished a degree in business management and so far all i see is an internship with fas an extra 50 quid a week on top of dole, wheres the big time

Be prepared to do the following:
1. Start out at the lower levels, put in the hours, and keep an interest in your industry
2. Make sure that outside of work hours, you keep your skills and qualifications current.
3. Within your work hours, make sure that you are the most effective performer at your level.

As you progress the same will essentially apply, but you'll get paid more and have more flexibility.

You surely didn't think a degree in business management was going to land you that sort of money?

Remember the average wage here earned by half the population is less than half what you are aiming for.

http://www.irishtimes.com/opinion/super-rich-or-super-angry-where-are-you-on-ireland-s-income-pyramid-1.2104861

80k plus gross is in the top 10% of earners in the country according to the Revenue

http://www.thejournal.ie/top-1-in-ireland-1940955-Feb2015/

Senna

liam650 wrote: »

basically how to start on the road to earning serious money, im nearly finished a degree in business management and so far all i see is an internship with fas an extra 50 quid a week on top of dole, wheres the big time

What do you mean, did you think you would earn large amounts straight out of college?
I did a management degree also and all it will do is give you a chance to get your foot in the door somewhere, hard work, ability and talent is required from here on, you will soon realise a degree won't get you past the 25k a year mark, your performance alone dictates your career path.

jimmycrackcorm

IT contracting at 450-500 a day. Reduce the amount you actually take out for day to day living (e.g. Get your partner to pay for the mortgage and bills out of their salary) and then pay the 12.5% corporation tax at the end of the year.

Stheno

endacl wrote: »

Get qualified in something you can charge 70-80 an hour for. Do a 15-20 hour week. Work for yourself.

Done.

Won't hit 82.5k once you factor in holidays

jimmycrackcorm wrote: »

IT contracting at 450-500 a day. R

That will hit that amount, but given OP is just a graduate, I doubt they'd have the skills to command that level of a daily rate.

Top rates for very highly skilled people in IT who are contracting at the moment are 600 per day plus, up to 1000 per day

Bigcheeze

jimmycrackcorm wrote: »

IT contracting at 450-500 a day. Reduce the amount you actually take out for day to day living (e.g. Get your partner to pay for the mortgage and bills out of their salary) and then pay the 12.5% corporation tax at the end of the year.

And how do you get the money out of the company?

Stheno

Bigcheeze wrote: »

And how do you get the money out of the company?

Dividends which you then pay tax on

Doing it as a director and being paid will still hit OPs magical 1000 per week

Silverbling

If you are going to run your own business and earn that sort of money then get a job as a cleaner in your chosen field, then work as admin in an office, then work in the shipping bay and stationary department

Find out every way you will be losing money or where the wasted money is when you are the owner of the company, plus you need to be able to do every job yourself if you are facing a deadline

15 hour days, 7 days a week including holidays, no sick days allowed and it will take 3-5 years to make a profit depending on what field you choose

Business is a passion not a career, ask me in another 3 years if the gamble was worth it and I am rich with that thing called money that I vaguely remember, tough as it is I love every single minute of it, 80k yes please!

jimmycrackcorm

Stheno wrote:

Top rates for very highly skilled people in IT who are contracting at the moment are 600 per day plus, up to 1000 per day

No, those are the rates that a company that sends IT people to your company charge. The people themselves get nowhere like that rate.

Stheno

jimmycrackcorm wrote: »

No, those are the rates that a company that sends IT people to your company charge. The people themselves get nowhere like that rate.

I know several contractors on such rates at the moment. Having to bring guys in from the UK is causing havoc at the high end of the market. These tend to be 3-6 month contracts looking for very specific skills, I've worked with enough of them, and know enough recruitment agents recently about roles to know that it is the case.

liam650

well what has 4 years in a degree taught me? certainly nothing to that level, such a disappointment

tobsey

Stheno wrote: »

I know several contractors on such rates at the moment. Having to bring guys in from the UK is causing havoc at the high end of the market. These tend to be 3-6 month contracts looking for very specific skills, I've worked with enough of them, and know enough recruitment agents recently about roles to know that it is the case.

What are these skills pulling those rates as an independent contractor? Genuine question as I'm a developer.

Stheno

liam650 wrote: »

well what has 4 years in a degree taught me? certainly nothing to that level, such a disappointment

Did you seriously think that getting a degree would allow you earn that sort of money straight out of college?

If you did, you need a serious reality check, the working world will be a revelation to you

Stheno

tobsey wrote: »

What are these skills pulling those rates as an independent contractor? Genuine question as I'm a developer.

Not development, the ones I am most aware of are entreprise process architects specialising in massive transitions/data centre moves.

And some technical architect roles with cloud/vm experience

Silverbling

Stheno wrote: »

I know several contractors on such rates at the moment. Having to bring guys in from the UK is causing havoc at the high end of the market. These tend to be 3-6 month contracts looking for very specific skills, I've worked with enough of them, and know enough recruitment agents recently about roles to know that it is the case.

Any part time jobs going?

liam650

Stheno wrote: »

Did you seriously think that getting a degree would allow you earn that sort of money straight out of college?

If you did, you need a serious reality check, the working world will be a revelation to you

taught id get more than an extra 50 a week on top of dole or doing shift work in dunnes

Stheno

Silverbling wrote: »

Any part time jobs going?

Eh no.

If you want to work at that end of the market as a contractor, it's unlikely you'd survive part time or even 9-5

Stheno

liam650 wrote: »

taught id get more than an extra 50 a week on top of dole or doing shift work in dunnes

Well what grade degree are you expecting to get? Have you applied for any graduate programmes?

They all pay at least 25k and up to 30k if you have the academic record to be considered for them?

If you want to become a trainee accountant or auditor then you are looking at min. wage.

Don't know how you seem to think that you'll end up on jobbridge.

Silverbling

Stheno wrote: »

Eh no.

If you want to work at that end of the market as a contractor, it's unlikely you'd survive part time or even 9-5

and I probably don't have the skills but for that money I would learn them

I would also have to fit it around working 15 hour days 7 days a week getting my business to where I want it to be, but if you don't ask you don't get

newacc2015

If you were serious about "big money". You would have worked hard to get into a top college and then aimed to get a 2.1 minimum to get a graduate programme. During the summer you would have interned. If you were good. They would have offered you a contract for when you finished college. You don't end up in a top job. You kill yourself for years to do it.

I don't know of any high paid job that you work 40 hours a week. If you are serious about a career. You generally work closer to 60/70. I have friends who work from 7.30am to 9 pm. Their pay reflects it

Clareman

Income is relative, if you are earning €1,000 a week it might seem like massive money but throw in expenses and it mightn't be enough to keep you afloat. For example, take someone with €1,600 per month mortgage, 2 kids in child care costing €200 each per week, travel expenses of €100 per week, all of a sudden that "big money" amount of €1,000 per week (4k a month) leaves the person with €300 to "live" on per week. That €300 is to cloth, feed, entertain them.

tobsey

Stheno wrote: »

Not development, the ones I am most aware of are entreprise process architects specialising in massive transitions/data centre moves.

And some technical architect roles with cloud/vm experience

You'd fit the first group in a taxi. No surprise they're getting those rates.

retalivity

Real bang of entitlement in here.
I started my first job out of college almost 10 yrs ago at circa 23k pa. Im currently contracting and getting over your weekly magic figure, working 40hr wks.

Work hard, have patience. If you want to try and get rich quick, buy a lotto ticket.

Stheno

Silverbling wrote: »

and I probably don't have the skills but for that money I would learn them

I would also have to fit it around working 15 hour days 7 days a week getting my business to where I want it to be, but if you don't ask you don't get

At that level you are talking about guys with no just skills but massive experience. They have the ability to get on site and within week be more up to speed than staff there for months.

That's the value they bring.