Don‘t focus on the huge money aspect. There is a lot of selection bias here, only few people make this much outside of some very particular areas/companies.
Comparing Germany (where I’m also from) and the US, I’d say that Germany still gives much higher standard of living at the same salary, especially due to lower rents in the big cities.
FYI my progression
120k joining top3 mgmt consulting after PhD, stayed for 4yrs, left when being promoted to project leader (200-250k)
200k in mgmt position at e-commerce company in Berlin
Anyway, I think money matters way less than happiness in the job and a good work-life-balance, at least when you have no debt and aren’t struggling financially (=there is enough money left for vacations and some savings)
> 200k in mgmt position at e-commerce company in Berlin
For the context: this is an insane amount of money in Berlin, which used to be one of the poorest capitals in Western Europe. Most software engineers make 60-70k.
> after PhD,
A quick question: does it matter from which university one received his PhD in Germany?
I read multiple comments, that unlike in the US and in the UK, most universities in Germany are considered more or less equal.
But wouldn't a MSc / PhD from Humboldt University of Berlin be considered above a MSc / PhD from University of Potsdam when applying for jobs and negotiating the compensation?
In Germany the university playing field is much more level than elsewhere. While certain universities stand out in certain areas, it’s not a deciding factor in most cases. Many of the small town universities are actually quite renowned.
The big divide is Universität vs Fachhochschule (university of applied sciences), which are in many fields considered inferior unless they have special profile (eg highly international).
Look, you're right about happiness, but let me make 200k/year for about 5 years and then I'll publicly share your view. Also, that's Berlin; the situation in NRW (excluding D & K) is a bit different. Currently earning 1/4 from what you earn, with 6 years experience in the same company.
Did you take a pay cut moving from consulting to e- commerce company? Did it make your work life balance better?
Yes I agree that wanting more money can result in frustration as in Germany such salaries are not that common outside of management positions or specific companies, but I have some plans to fulfill - buying a Porsche; travelling the world; opening an NPO in a developing country, employing literate and teaching underprivileged, etc..
With the pennies that I'm earning, I wont be able to save as much, wont be able to retire as early as I would like to and, most importantly, the impact of final initiative won't be that high. So for me it is important that I earn huge..anyway, it's a choice of thinking, I'm happy with my life even now, just not quenched with the money I have..
This is a lot of money and some massive savings you're talking about. How many hours are you working per week ? (I'm asking this from the other side of the Rhine where such wages are phenomenal).
Comparing Germany (where I’m also from) and the US, I’d say that Germany still gives much higher standard of living at the same salary, especially due to lower rents in the big cities.
FYI my progression
120k joining top3 mgmt consulting after PhD, stayed for 4yrs, left when being promoted to project leader (200-250k)
200k in mgmt position at e-commerce company in Berlin
Anyway, I think money matters way less than happiness in the job and a good work-life-balance, at least when you have no debt and aren’t struggling financially (=there is enough money left for vacations and some savings)