The budget includes expenses like groceries, eating out and food delivery. It makes little sense to spend hours cooking when you're already tired and want to reserve your remaining energy for taking care of your kids. The parents' ultimate plan is to send both children to private grade school, which costs about $35,000 from K-8 and about $45,000 from 9-12. The $2,000 per month does not include the suggested $3,000 per child donation the school asks each year to help fund new construction. The second child goes to preschool full-time. The couple then spends an extra $250 a month for some babysitting help. Their childcare center costs $2,200 a month for full-time care. There's no getting around this expense when both parents are working. After several years in the business, $350,000 isn't unheard of. A specialist doctor finishing his or her fellowship at around the age of 32 could make about $300,000.A 40-something tenured professor could make about $202,000 at the University of California, Berkeley, $260,000 at Columbia University and $218,000 at New York University.By the end of their seventh year, many are making over $350,000. A 20-something first-year big law associate makes a base salary of up to $190,000 plus a $20,000 signing bonus.After five years of experience, a total compensation of $350,000 should be achievable. A 30-something first-year associate in investment banking earns, on average, a base salary of $150,000 plus a $20,000 to $100,000 bonus.By the time these employees turn 35, their total compensation alone can easily surpass $350,000. Starting total compensation packages for recent college graduate employees at Facebook, Google, Airbnb and Apple range from $120,000 to $150,000.Together, they'd make well over $350,000.
A Bay Area Rapid Transit janitor who makes $234,000 plus $36,000 in benefits marries a Bay Area Rapid Transit elevator technician who makes over $250,000 in salary and benefits.Before we look at how quickly $350,000 can be spent by a family of four, let's go through a list of various workers who will eventually make around $350,000 on their own or in household income if they have a partner who also works: