What’s the best way to become rich if you are an employee?

What’s the best way to become rich if you are an employee?

The Best Way to become Rich; PC: medium.com

Suppose you are beginning your corporate career with an entry-level job. Usually no company would increment your salary by more than 5% each year. Also, you won’t get a promotion within a year or two.

Even if you get a salary raise of 10K with each promotion then also it will take at around 7 years to double your income.

So, making an assumption that your income gets doubled in every 7 years. Then,

3 LPA = 22 Age

6 LPA = 29 Age  

12 LPA = 36 Age

24 LPA = 43 Age

…………………STOP HERE………………….

After 24 LPA it is very difficult to double your salary in even next 7 years. 

Young folks get into the industry who are very ambitious & upward mobile. They are young, energetic & hard-working. So, you may face stiff competition from them.

If you wish to become rich as an employee then

## Accelerate:

Accelerate the above process. Instead of every 7 years, make it a goal to double your income in every 3 years. 

3 LPA = 22 years

6 LPA = 25 years

12 LPA = 28 years

24 LPA = 31 years

So, when you must be earning at least 24 LPA by 31 years of age.

You will have to work with passion & dedication. Else you will get stuck at just few positions above the entry-level.

You are just 31, quite young, passionate & eager to learn. Now, you can easily follow the 7 years-double income goal.

24 LPA = 31 years

48 LPA = 38 years

—— ——-Stop Here————

You will again need to work very hard to double your income.

48 LPA is good by any standards but it will become a reality only after 16 years of hard-work.

So, stay focused & slowly & gradually you will reach there.

P.S. It is really very difficult to get rich by being an employee. You need to constantly look at other opportunities as well.

With Great Love,

Er. Amit Yadav


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