INTJ – Salary Progression

Hi.

It’s been awhile, hasn’t it?

The world is on fire and I’m sitting in my office typing this to you. I hope I can share my financial journey with you openly and transparently while I chase certain milestones.

Income

Let’s talk finances, income specifically, but first let’s provide some context:

I always had a dream of making a six-figure income when I was younger. It’s all I thought about and you would assume that a kid dreaming of money would have done things in his best interest to make as much of it as possible as early as possible. I even covered this a few years ago here.

Well, life is funny that way.

I was 17, aimless, and failing out of high-school. I had lost all interest in studying and I wasn’t going to graduate anyway, so I dropped out. In hindsight, this was not the best idea.

I studied for my GED and figured I’d do enough work to survive for a while. I loved to learn, but I did not enjoy the traditional education system and I hoped that obtaining my GED and going to University would be the best possible route for success. It turned out to be right for me, but not right away.

In the end, I graduated with my degree in finance from a public, non-target university with roughly 40K in debt. I was 24. I was absolutely broke, I was broker than broke, I was negative. It took one solid year of interviewing for anything in the finance realm to finally get an offer…

The Six-Figure Climb

I recently turned 29 and I hit my financial goal of $100K by 30.

The truth of it is; I’ve been lucky, I’ve been prepared, and I’ve been reckless.

$36K – $41K

I’m a late bloomer. I started my career solidly in my mid-20s and I always felt behind; however, everyone starts somewhere. I was handed a six-month contract at a Big 4 Accounting firm for 36K. I was ecstatic, but I was nowhere near where I wanted to be and I was essentially losing money after looking at the debt I was in.

I spent two years in public accounting and I was severely underpaid working 60+ hour weeks and after a few raises I capped out at $41K. There is something magically empty about driving to work at 7am in the darkness of the morning and never seeing the sun. I remember wrapping up my work days and walking into an empty garage to drive home after the sun had set.

I would soon realize I was too ambitious and impatient for my own good.

$65K – $67K

I was suffering in public accounting. I lived my life in spreadsheets and I was extremely bored.

I needed a change, but I didn’t think staying in accounting was the right move and I wasn’t returning to university for an MBA to reset my eligibility into high finance.

So I did what any rational person would do. I lied. I lied my ass off and attempted to pivot into business analytics. It kind of actually worked.

I was always interested in technology and working with computers and I never really capitalized on that ability. That changed when I was remote through the beginning of the pandemic and realized I could turn a few computer tricks into a career.

I started applying for Business Analyst roles and got lucky. I learned SQL in my off-time and picked up PowerBI and Tableau to be able to collate and visualize data and made small projects to increase my comfort working with as well as explaining data in an easily digestible manner.

This was very fun. I ended up as a Business Analyst at a Cybersecurity startup and it opened my eyes to understanding that my original goal of 100K was possible. It was still targeted for 30 and I was only a couple years away. I started scripting with Python here.

I was nearly a year into my tenure, I had hit my stride, I was up for Senior in the next few months.  

I would soon realize I was too ambitious and impatient for my own good.

I knew, from working a high-profile project with a VP, that typical promotions were only paid out at around 10% with year-end adjustments falling at 3%. This would leave me in the mid-70s and while that was an excellent increase and salary, it wasn’t going to allow me to coast to 100K by 30.

In my mind, I had no choice. I needed to make a move.

$85K

So, I did.

I used everything I learned in my public accounting career and my stint as a Business Analyst to land a role as a Business Intelligence Engineer. This was the defining moment in my career. I had reached a certain level of mastery with SQL and PowerBI that I was now a Subject Matter Expert or SME.

I calculated that if I could work diligently for the next two years that I would barely hit my goal of $100K by 30 through regular annual raises and a promotion. I started off really well and delivered a few automations and improvements. This did not last long.

I was fired after about six months.

I became complacent and started lagging behind in my projects due to distractions like the pandemic, working entirely remote for the first time, and generally not paying any attention whatsoever. It was a wonder I lasted as long as I did.

I was 28, without a job, not going to hit my goal by 30, and needed to figure out what to do next.

This may have been the first time I truly failed and I’ve always been afraid of failure. I failed when it mattered, but could I also be successful when it mattered?

I was lucky. I had been released into a labor market that was beaming with opportunity for a person with my skillset and I was receiving interviews and offers that were beyond my expectations and I became reckless.

I was jobless. I had no right to be picky, but I had money saved and knew I could make it, if a bit lean, for a few months. I began screening phone interviews and throwing out ridiculous numbers; I won’t interview for less than $95K, next call? $105K, call after that? 115K.

And then it happened.

$120K+

I was deep into interviewing, in the final stages with a number of companies, in negotiations with a few others. I saw a Sr. role in a Fortune 500 company that aligned perfectly with my data skillset and my finance background.

I turned down a company I’d been chasing for years to get into at an astonishing $95K offer with a signing bonus + up-front end of year bonus that would have totaled somewhere in the low $100s.

I turned down another Sr. role at $105K.

All while pending an offer from the Fortune 500 role. And then they called and gave me a verbal offer, and I thanked them and declined. It wasn’t enough. I was reckless. I turned around and called the recruiter and thanked them for the offer, for the opportunity, but I wouldn’t take less than $120K.

The next hour was the longest of my life. I was an idiot. I turned down sure-fire $100K roles and negotiated with nothing as real leverage while I was out of job and my cash reserves were running out. I do not recommend this strategy.

It was 4:50pm. Their office closed at 5 and I figured I was done, that was it, I blew my chance by being too greedy. Could I call the other companies back that I was in the offer stage for? Would they even want me?

And then she called.

And they agreed to bump the offer to $120K.

—

I went from making $36K to $120K in three years and it taught me a lot. I hope my career progression has been interesting to you. I am going to continue this finance-centric content and share my other buckets; expenses, savings, and spending soon.

My goal for the next two years is to hit $100K invested.

Thanks for reading!

Brief Update

Some years have passed since my last visit here.

It is interesting to see this blog’s viewership increase exponentially in my absence, an almost posthumous distinction. Even such an ‘explosion’ to which I speak of is small and insignificant; it is interesting to still be writing in obscurity, just a lesser form.

I will continue to write, if sporadically, but I still have a few things left to say.

 

 

 

 

Money management – the INTJ way

Disclaimer: All of the information contained herein is based purely on conjecture, and my personal foray into managing my money. I will not be releasing information on the stocks that I invested in, nor any ‘tips or tricks’ on where to put your money. I am only sharing general guidelines that worked for me – any action on your part is of your own risk.

1) Time is your friend, for now.

Invest as early as possible because it is the effect of compound interest that provides real long-term growth. It is okay to start small; just start. It is even acceptable to invest (a small amount) of your money in higher risk/higher yield assets.

2) It can become your enemy.

Age reduces the time you have for compounding which results in an insufficient recovery window if there is any loss. So, invest now. A dollar invested at 40 will suffer from stagnant growth compared to the dollar you invested at 20. As time wears on however, you want to be doing two things:

• Increasing the amount you regularly invest (when you can).
• And begin moving a higher percentage of assets to lower risk/lower yield investments (and hold).

3) The most valuable resource? Your mind.

Go here for full disclosure.

For brevity:

• Never stop advancing your knowledge.
• Get a degree and or certifications in a field that has positive growth for the future.
• Most importantly, doing what you enjoy in an area that has barriers to entry (the more, the better).
• Limit debt from college – work through it!

4) Have a plan (and a contingency plan).

Estimate your short and long-term financial condition:

• Where are you going to plant your roots?
• Will you invest? Save? At what rate?
• Have a car? Is it paid off? Keep it until it is more expensive to fix than upgrade (create a cost-benefit analysis).
• I tend to avoid leases and buy in case, but always check the market before making a huge financial commitment.
• Will you have a budget?
• How is the stability of your career, employer, field?
• Kids? Plan ahead.
• How large will your emergency fund be?

Save in advance for purchases!

5) Build a nest egg early, and forget about it.

I understand that math can be scary, but if there is one concept that I hope you understand it is the power of compound interest:

Future value = present value * (1+yield)^N

Present value is the amount of capital you first invest, say, $1.

Yield is simply the aROI (average return of investment)

And ‘N’ is the length of the investment in years

PV = $1

Yield = 7%

N = 40 years.

A dollar invested at an annual average rate of 7% compounds every 10 years; if you take that dollar out at 25 it becomes a $16 loss in your retirement at 65. That’s a harmless example, but imagine if it were a down payment on a house, say, 15k – it becomes a loss of a quarter of a million dollars. Yep, you just lost 250k.

6) The truth about debt.

Bad debt is any debt incurred that does not pay itself off within ten years – offering little to no financial benefits.

Good debt is debt incurred because you acquired an appreciating and useful asset.

University is not for everyone, so ask yourself: Can you (realistically) garner debt from the investment in yourself and secure a career post-college that will pay off said debt in under ten years? If so, it is considered a good debt as a degree will increase your earning potential, however, if you cannot – start working now. The four years it takes to acquire an education can be used to propel yourself in a company and make money right away.

However, always look to get qualifications, certifications, or even a degree a bit later.

7) Manage well.

Income is what you live on; wealth is what you retire on.

It is entirely possible to manage your own investment portfolio, especially if you are just beginning, and I am not condoning an entirely hands off approach, but finding a suitable financial adviser can help. I manage my own (small) portfolio, but that’s because I am a control freak and I am personally interested in finance and the economy. Regardless of what you choose, I implore you to, at the very least, understand where your money is coming from and how any business you invest in makes it’s profits.

Never, in any endeavor, just leave it up to someone else to handle your affairs.

8) Diversity

There will never be a single investment that is ‘good’ forever. There will be changes in the local, national, and international economies, tax law changes, fluctuating asset values that are all unpredictable. What does that mean? Invest your money in uncorrelated assets; as such, if one is down the other can be up. Uncorrelated assets are so when the factors that drive their values are independent.

Vary your investing approach to include a multitude of different stocks/markets. I keep a large chunk of my liquidity in a low risk, secure asset that doesn’t fluctuate much and is tied into an IRA as an anchor.  IRA’s are great because they do not penalize you upon withdrawal for invested principle and future earnings.

9) Double your money (the smart, and long way).

Every company has a retirement plan that either has profit sharing and or company matching up to 5%, but the average is about 2%, and it is the instant doubling of every dollar you invest into that account. It’d be foolish not to be doing so every chance possible. Matching it with an automatic payroll deduction is a 100% interest rate on your money. Invest as much as reasonably possible and in every way possible in order to maximize your earnings, but always understand, and track your investments to gauge their effectiveness.

And, investing is not accurately represented in movies – you do not trade every single day; you hold for as long as you can.

 

On Being 20

Warning!

This will be lengthy, but worth it.

Overview

At 20, there are two fundamental things you are trying to critically balance; the short-term and the long-term. The decisions you make at this stage have the ability to impact the rest of your life. Do not underestimate the necessity of careful consideration involving paramount decisions. However, you are young and being in your twenties is a transitory experience – it will not last. As such, youth affords unique opportunities and freedoms that will decrease with age, so utilize this chance to begin building your life.

Where do you start? University. While a traditional college education is not a prerequisite for success in contemporary times, it definitely (has the ability to) hasten the developmental process. Life has a learning curve, and the acclimation process is different for everyone, but typically, the first taste of real, adult life is experienced while in University.

Granted, it is a fraction of real life, but it is the first time you have actual responsibilities, a schedule, unbound freedom, and control over every facet of your life. University is the last line of defense versus the real world, and offers brief glimpses into the reality of debt management, personal finance, and cleanliness(cleaning is important!). These glimpses are necessary for preparatory purposes, but you also leave University accomplished; hopefully with a degree in a field that is expected to have positive trajectory and barriers to entry.

Cultivation of the Mind

If you cannot explain it to a six year old, you do not understand it yourself

University is a nice segue into the cultivation of your mind. What? You thought you actually explored the depths of subjects in college? You barely scratched the surface.

Maximizing your mind while simultaneously expanding your mental skill set can be achieved through one activity – reading. Read anything and everything you can find, even if it is not in your interest; read it then critically deconstruct it. The deconstruction of text will allow you to extract the concept on a granular level to which you can then disseminate to others in a more approachable manner. One of my favorite quotes is by Albert Einstein (a famous INTP, by the way) who stated “If you cannot explain it to a six year old, you do not understand it yourself”.

Reading enables your mind to use mental models outside of your comfort zone; an excellent way to approach problems is to use the physics model. Physics, without going into detail, offers an excellent mental framework for problem solving by reasoning from first principles rather than by analogy. Essentially, you take a problem, reduce it to it’s most fundamental truths, then reason up.

Reasoning by close analogy, or cross-referencing past experience and knowledge to solve future problems, is incremental thinking. It’s clunky, and limited by conventional wisdom. Instead, try doing so by first principles, so that by reasoning up from ground zero you can systematically dispel notions that are not congruent with contemporary and future markets/problems. Reading offers this realm of possibility – if you’re not actively studying physics that is.

***

<Obvious>Reading is not the sole approach to broaden your mind.</obvious> There are many options, but none are as economical (unless you purchase books like me…) nor are as efficient in the promulgation of information or as transportable!

P.S. Writing is an excellent way to organize your thoughts and a helpful aid in making you a better communicator… On paper. Take a public speaking class too, for the hell of it.

Personal Finance

This section will be brief, as it is important, and I will be dedicating a separate, more elaborate post in the coming weeks.

Let’s just break it down:

• Minimize debt by actively tracking your money; get text notifications of transactions.
• Start saving now! Youth is on your side, so open a high-yield savings account and put as much in it as you can.
• Make your money work for you which means investing, but for right now, set up automatic transfers to your high-yield savings account.
• Beyond minimizing debt, understanding where your money is going will help you to cut costs. Be smart and haggle.
• Personal finance is important; learn the basics.
• Live within your means.
• Money is not the goal of life, but it offers security, which enables you to have choices – choose wisely.

Disclaimer: I am not a financial guru nor do I pretend to be, my advice offered above is what helped me to advance my life, and it may work for you too. Before utilizing this advice, speak to a financial adviser.

What are your goals?

Setting goals is the battle of optimism versus realism as well as knowing your capacity for risk-taking. It is simple: do not live in others’ dogma and set realistic short, medium, and long range goals that you actively work towards every single day. Ideally, each milestone you reach is the part of a greater whole; construct your short and medium goals as bridges to your ultimate goal.

Don’t have a goal? You will in time. Patience in finding, setting, and achieving goals is of utmost importance. Failure is not due to a lack of talent, but a lack of perseverance and will-power.

Enough of that. Let’s continue, we’re almost there.

Habits

Eradicating bad habits and building positive habits early are easier to maintain, so keep that in mind throughout your twenties. Cleanliness is important, so clean up after yourself and keep a neat space. It creates a conducive environment for productivity… And keeps my OCD in check.

Other than that:

• Introduce exercise and nutrition on a weekly basis for the former and daily for the latter.
• Manage sun exposure, some is necessary for happiness – it’s an evolutionary thing – too much is carcinogenic.
• Finish what you start.
• Learn to cook! It’s instrumental to survival and it is a great way to impress your girlfriend.

Drinking is acceptable in moderation.

Smoking

All that other stuff….

Socialization

I know, I know. I’m just as misanthropic as the next guy, but we’re at the end, so hear me out. I’ve commented briefly on the misunderstanding and consequent propagation of being an introvert and social ineptitude, I’ll elaborate here.

Introversion is not defined by social anxiety, but it is the characteristic in which introverts re-gain energy by being alone. That is it – nothing more, nothing less. So in the end, introverts have the capacity to be the center of attention, for a short time. How? Survival of the fittest dictates that the most adaptable person wins and considering introverts tend to observe before acting can successfully emulate socially acceptable behavior!

Is your mind blown yet?

In essence, you can boil social dynamics down to a simple, linear progression model with specific check points along the way. Unlike games though you cannot restart from that check point if you fail. This is not a ground-breaking idea, and can easily be achieved through the first principles model, but the beauty is not in the complexity of the theory, but in the simplicity of it’s execution. Either way, do not be afraid to try *gasp* new things.

Get into a long-term relationship.

Edit your friends; seek out useful, active, interesting people and facilitate those relationships.

Surround yourself with older, vastly more intelligent individuals to learn from.

I understand. INTJs and INTPs and anyone introverted is ‘stuck’, but you are not. Evolution is the key, and we must all evolve if we are going to survive. Just use your window of amiability effectively. Then retreat when the full moon reveals itself – it always works 😉

Postlude

As your responsibilities to external factors increase it will simultaneously decrease your ability to be spontaneous, and take calculated risks.

Few commitments equals a higher risk capacity which leads to life experience, so I would implore you to travel as it will lend a new perspective. Start a business, begin to invest, and build passive income streams so money can work for you, and you can afford to expand your boundaries. Get outside your comfort zone. As INTJs, we are virtually designed to plan to the nth degree, so that can leave us wanting, and our ability to simply experience the world, absent. 

The above goes double for INTPs who are predominately inside their heads.

Allot time to explore the world, yourself, and your place within it. This is a difficult task, for us to live in the moment, but it is possible. Ironically enough, through all of this, it is of paramount importance to have a overarching plan where this is a critical step to achieving a predefined goal – preferably a life one.