What salary do most people retire at? Say for a CL27, 28, and 29 what would be a typical range for salary at retirement? Trying to figure out how valuable this pension will be if I don’t quit now and stick it out. I have heard that once you hit your mid 40s raises stop.
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Based on very old charts I had when they used to share this info the median of each successive SG level increased by ~13% and the range within each SG was 77-123% of the median. Within the SG’s the maximum allowable salary for each of the 5 quintiles were 89, 97, 103, 112 and 123% of the median.
Am guessing this structure (or something similar) still exists and the the median for each SG varies between countries and functions.
@g3 I know finance 28s making that much
@ft Finance CL25 - can be $120-$155kish.
@c9 I know finance CL29s making around $250k. It’s not the same across the board.
What about CL25 & CL26?
Yes, @C9 has the correct salary ranges, but to hit the tops you need to be a younger hipo that is just passing through on your way to exec. @OP was asking about end of career salaries. If you are in those salary bands at end of career, you will be ranked VG at best because the passing hipos will be above you. And remember, EM will do you dirty at the end and not even give you what the salary curve suggests. So for retirement planning purposes, look to the lower third of the bands from C9’s post.
I agree @c9's salary bands are dead on for my pay at my CL, can't speak for other CLs
@c9 not sure who is downvoting you, but what you posted make sense.
I was $350k first year at CL 29 a couple years ago. barely kept up with inflation since but still above the high end of the ranges listed here
230-260 for 27, 300-320 for 28, 300-360 for 29..
@b2 your age.your tanking your job.....
Completely depends on what your function is too. A CL 29 person in Finance or HR is not making the same as someone in the business like a geoscientist or engineer. Different salary curves.
Long term CL29 tops out at ~$340k IF you can maintain VG ranking. To maintain VG in your 50’s you will need to be in a position where they have an incentive to retain you a little longer. Otherwise you will slide further down in ranking as they coach you out at 55, if you’re that lucky.
But ignore what older workers are making today. Not relevant for your calculation. If you’re not well ranked at age 43, you will not make it to retirement so start executing your exit strategy. If you are well ranked at age 43, for your calculations assume your salary escalates with inflation only through age 55. Even if you get one more promotion between now and then, your age 55 salary will be roughly equal to your age 43 salary plus inflation despite the CL bump.
I hope this helps. It su-ks but don’t take it personally.
You aren’t factoring in that most people will be forced out before retirement age.
Just quit, for your sanity