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If you’ve ever wondered what a CEO made in their first job, we’ve spoken with someone who shared insights into his journey from an entry-level position to being in charge of an entire business.
Here we will review how much a current CEO made in his first role and how it inspired him to continue on until he moved up to his executive position.
First Job Earnings of a Current CEO
“I thought I’d hit the jackpot when I landed my first job out of college — investment banking in New York City with a $55,000 salary,” shared Neal K. Shah, CEO of CareYaya Health Technologies, one of the fastest-growing health tech startups in America devoted to recurring senior care.
Even though Shah runs his own company now, he had to start in an entry-level position where he had to work his way up to increase his salary. While the salary felt like it was a lot of money at the time, he quickly learned that life can get pretty expensive when you’re out on your own for the first time in a big city.
Was This Starting Salary Enough?
“As a middle-class kid from North Carolina, I quickly realized that the cost of living in the Big Apple was far higher than I’d imagined,” noted Shah. “Ultimately, I stuck with the work and built a hugely successful career in NYC finance, and by the time I was 35, I was running a $250 million hedge fund.”
While finding any kind of work straight out of college is exciting because you’re finally out in the real world making money on your own, the reality of a high cost of living can hit you fairly quickly. You realize your salary isn’t enough to have the lifestyle you dreamt of as a broke college student. You’re making money, but you’re putting in long hours in the hopes of getting noticed so that you can move your way up.
Finding Inspiration To Keep Going
How did his first gig inspire him? Shah provided the following powerful lessons on finding inspiration to improve upon his first job.
Lesson #1: You Have To Start Somewhere
“That first salary taught me the importance of starting somewhere and working your way up,” shared Shah.
Even though the first role didn’t pay enough to enjoy a lavish lifestyle, Shah felt that he had to commit to getting better at his job to move up the ranks one day. If there’s one common lesson from many rags-to-riches stories, it’s that you have to begin the journey somewhere.
Numerous tales exist of CEOs who had humble beginnings as they tried to carve their path. If you’re currently unsatisfied with your role or salary, there’s hope that you can create opportunities for yourself today that will pay off in the future.
Lesson #2: The Importance of Delayed Gratification
“That first salary in investment banking was a lesson in delayed gratification,” commented Shah. “It opened doors and gave me a foothold in the competitive world of New York City finance.”
When you start working in your profession, you’ll want to see some progress so that it feels worth it. Unfortunately, in many industries, you have to spend years working your way up the ladder until you’re satisfied with your position and the salary.
Working in a competitive environment can inspire someone since you have to invest in yourself and find ways to stick out from the pack. Then, you must accept the importance of delayed gratification, meaning you have to wait a bit longer to achieve your goals. You won’t always be able to stand out instantly, as you may have to prove yourself for many years.
Lesson #3: Success Isn’t Always Linear
“That first job taught me that the path to success isn’t always a straight line — sometimes, you have to make short-term sacrifices for long-term gains,” noted Shah. “Even though the cost of living was high and the salary didn’t stretch as far as I’d initially thought, I knew that if I could prove myself in that role, it would lead to bigger and better opportunities down the line.”
Achieving any level of measurable success won’t always be simple, and there will be periods when it doesn’t feel like you’re making any progress at all. While Shah struggled and had to make sacrifices to increase his salary and improve his standing in his company, he knew that it would pay off one day.
Shah elaborated, “Building a startup like CareYaya requires a willingness to take leaps of faith. You have to be willing to invest a lot of time, capital, and effort in your vision, even when the payoff isn’t immediate.”
The effort and determination required for Shah to move up in the finance industry helped him when he eventually started his own company, as these lessons inspired him to stay focused when he was branching out into the unknown. The lessons you pick up from an entry-level role can help you in your career journey, even if you choose to leave the industry.
What Led to a Career Change?
“Financially, I had achieved more than I ever dreamed possible when I was a middle-class kid from North Carolina, but it took a personal crisis to make me realize that I wanted something more than just financial success,” reflected Shah.
While some people work their way up in a company to eventually become the CEO, others try to start their own business to leap to the top level. Shah noticed the potential to start a business due to a personal tragedy that motivated him to try something else.
Spotting a New Opportunity To Start a Company
“Witnessing firsthand the challenges of dementia, cancer, and end-of-life care as a family caregiver, I knew I couldn’t go back to just chasing profits,” said Shah. “I wanted to use my skills and resources to make a real difference in people’s lives.”
This experience shaped Neal’s leadership philosophy at CareYaya, the health tech startup revolutionizing elder care nationwide through artificial intelligence and human capital innovation.
Becoming the CEO of a startup was a risky proposition, but Shah took with him the lessons from his first role, which helped him overcome the challenges involved in getting a business off the ground.
Closing Thoughts
Shah concluded, “The personal experiences along the way taught me the true meaning of success.”
He noted that CareYaya’s goal is to measure its impact by the lives it touches and the families it supports. If you’re looking to start your own company or feel stuck in your current role, the lessons in this article should help you find the motivation to keep going.
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