[quote author="JLegend" date=1220416701][quote author="25w100k+" date=1220404956]
Well, I get in 'theory' what the demographic is, I guess i'm not sure about the reality. So, specifically, what is your age and industry and your general salary range? You are anonymous, so I think it should be fine posting.
I just don't know too many people in their twenties making that kind of money. I have friends at big law firms and even they don't pull in 200k (yet?). Sure, a doctor could make that easy, but by that time they're in their mid-thirties which is about when people start having kids.
Maybe i'm mis-judging the number of single professionals later in life who don't want a family. I'm the first one to tell you that Irvine has a number of high paying jobs in a variety of industries, I just don't think we have too many Ibanking type jobs where a 26 year old is going to pull crazy money right out of his MBA program such as Chicago or Wall Street.</blockquote>
You're right. A quick search on google regarding big law firm salaries reveals 1st years making 160K, 2nd = 170K, 3rd 180K, 4th 190K (it appears this industry is most transparent - couldn't find similar numbers for other professionals). From what I've come across, bonuses range anywhere from 20K-50K across relevant class years. Typically laywers who go straight through graduate by 26 (a 3 year program on top of 4 years of undergrad), and will start pulling in close to 200K after the first year or so, so by 27. How many of those young people actually move to OC or are inclined to buy expensive property right away is another matter for which I do not have an answer for. I have a friend from B-School who stands to make about $150K upon graduation, but probably still not enough to afford the Plaza.</blockquote>
Your numbers for the big law firms, seem to be right on. The one thing that you may not be factoring in is the debt that these young lawyers have. Yes, they can be making around 200K within the first 2 or 3 years (including bonus) but they are also in a very high tax bracket, and may have alot of debt due to graduating from a highly respected law school.