People on the internet talking about their huge salaries

Cyrus

https://www.boards.ie/discussion/comment/122022255#Comment_122022255

in not sure what the point of this thread is really, while its statistically uncommon you'll find for example that most people in wherever that persons kids go to school are probably in a similar financial situation.

Some people can earn lots of money but not be financially savvy, or aware of certain tax efficiencies that they can take advantage of. AAM is pretty useful as it goes for that kind of info, also useful in the context of pension planning as well.

People are free to ask advice and people are free to give it, no one has to take it. Plenty of people in bad financial circumstances also post there.

Former Former Former

https://www.boards.ie/discussion/comment/122022255#Comment_122022255

I presume from your use of 'whopper' that you think this guy is not telling the truth.

A 240k salary is very high but not outlandish. A 43-year old public servant earning 100k is definitely nothing out of the ordinary.

Not sure what your beef is, these are perfectly believable numbers.

BrianD3

https://www.boards.ie/discussion/comment/122022547#Comment_122022547

You presume incorrectly, I meant a whopper of an income. A 240k salary is top 1% - then there's the 200k bonus and share options on top of that.

Also, the vast majority of public servants do not earn 100k or close to it - so it is out of the ordinary. E.g. in 2020, there were 36,500 employed in the civil service of which approx 1800 (those at PO and higher grades) would have been on 100k or higher.

Also, as B. Burgess himself posted in the money makeover forum

https://www.askaboutmoney.com/threads/some-wealthy-people-are-worrying-unnecessarily-about-their-finances.234755/

Cyrus

https://www.boards.ie/discussion/comment/122022616#Comment_122022616

and so what? you say the thread is just too much, what do you mean?

timmyntc

https://www.boards.ie/discussion/comment/122022547#Comment_122022547

1.2 mil in RSUs is not that believable

Most RSUs have a maximum vest time of 4 years? So how you could accrue 1.2mil worth is beyond me, unless you are CEO of a large corporation level. In which case, why the hell are you on AAM asking for financial advice?

Cyrus

https://www.boards.ie/discussion/comment/122022683#Comment_122022683

from the post:

additional €1.2m of RSUs releasing over the next 5 years

thats 240k worth per year, not outlandish in the context of circa 450k a year between salary and bonus.

and hardly a CEO of a large corporate if basic salary is 240k.

Bobson Dugnutt

I do find there can simply be an inability to accept that some people make six figure salaries. It’s very common in tech, management, consulting, accountancy, some of the medical profession. It’s also why some lads around here get so snarky when you point out that getting just over 100k to be a TD isn’t really that great when you consider the work they have to do.

I have a family member who is still the right side of 30 who makes over 100k. He’s as slow as a hearse with a puncture as well. I’m self-employed, will probably make 160-180k this year and certainly wouldn’t consider myself wealthy. We do have a comfortable life, but the progressive tax system and high cost of living means we aren’t exactly dining out in Chapter One every night of the week.

Viscount Aggro

https://www.boards.ie/discussion/comment/122022286#Comment_122022286

I would say they are in the minority. Most people on there are savvy and high earning.

Anytime I have posted a message on AAM, I have been savaged.

Its not about income… its about expenses (mine are 7k per annum).

I retired at 50, and I was on an average income. I still ended up with a 7 figure sum in the bank.

AndrewJRenko

You don't have to go to AAM to find people talking about huge salaries pensions.

https://www.boards.ie/discussion/2058345724/early-retirement-at-57

Feets

Why wouldnt people ask a forum? Its mostly anonymous. Also these people might be new to earning under 500k, but where should they go? V few ,if any businesses, are offering the service of helping people out who only have one or two queries. The posters arent showing off. Far from it. They could also be lying tho also just to rile other readers up tho.

Cyrus

https://www.boards.ie/discussion/comment/122022842#Comment_122022842

there is a broad spectrum on AAM in my experience, for ever person earning 500k a year there are 2 who have debt coming out of their ears and dont know where to turn, mortgage arrears and the rest.

its a useful place for advice for both sets of circumstances though.

timmyntc

https://www.boards.ie/discussion/comment/122022753#Comment_122022753

Most large corporates compensate high level staff far more with stock options and RSUs than salary, as it gives a better incentive to increase share price and also in certain tax jurisdictions it works out better financially.

1.2m in RSUs releasing over 5 years implies 1.2m granted at one time, or else they have some strange grants where vest periods are not all the same, which is not typical at all. A 240k RSU grant every year is not typical either - brings total compensation package to circa 650k pa

Cyrus

https://www.boards.ie/discussion/comment/122022978#Comment_122022978

RSUs in ireland are subject to income tax so no tax benefit here, id suggest he has just summarised, you'd assume its a total of 1.2 vesting over 5 years but with different amounts at different stages depending on grants (some of which may have come with promotions for example)

DataDude

https://www.boards.ie/discussion/comment/122022978#Comment_122022978

Very possible they work somewhere like Meta getting annual RSUs in the low 6 figure range.
€100k RSU award from 18 months ago in Meta would be worth over €500k now given share price appreciation.

theintern

The RSU situation is pretty high, but for a senior director or VP in a tech company, with a little bit of positive stock movement mixed in, it wouldn't be outlandish.

That sort of base would match with that level of position too. Just checked levels.fyi and the first Dublin salary for a senior manager in Google, with 19 years experience has a base of 205k, with 280k a year stock.

Stock and bonuses at higher levels in tech companies get very lucrative. The golden handcuffs get heavy.

Modulok

https://www.boards.ie/discussion/comment/122022255#Comment_122022255

What is your point exactly? Do you want to take their money from them?
Why is it hard to understand that someone who might be an expert in managing a software company or a legal firm, might not be an expert in personal finance? They are completely different skill sets.

blackwhite

https://www.boards.ie/discussion/comment/122023005#Comment_122023005

If the RSUs come with a restricted disposal period after vesting, then there is a reduction in the taxable value.

https://www.revenue.ie/en/additional-incomes/employment-related-shares/taxation-of-employment-related-shares/restricted-shares.aspx

It's not uncommon to see LTIPs structured where RSUs are granted with a vesting period of 1-3 years, but which are settled with the grant of restricted shares which have a 5 year and one month restricted disposal period. It effectively reduces the tax paid from 52% to 21% - but means there a longer wait before you can then sell the shares.

Cyrus

https://www.boards.ie/discussion/comment/122052728#Comment_122052728

ah ok, risky i guess with tech stocks!