How A 40-Year-Old Went From Earning $5.15 Per Hour To More Than $1 Million Per Year: 'I Always Kept My Eyes Open For New Opportunities'

It's normal for people to increase their income as they get more work experience and develop new skills. However, a recent "CNBC Make It" video tells the story of a 40-year-old who went from earning $5.15 per hour to netting more than $1 million per year. He is one of the outliers that can inspire others to pursue bigger goals.

Jamal Robinson started in the fast food industry and eventually became a tech worker. Along with the career jumps came a large portfolio, and he managed to accumulate a $3.5 million net worth before turning 40. 

Robinson shares his journey and some of the strategies he used to accelerate his earnings.

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Some Quick Research Led To His First Negotiation

The salary for his first job after college wasn't substantial. He told CNBC that he was only set to earn roughly $32,000 per year, but the context surrounding this job set him up for seven-figure years.

It turns out that $32,000 per year was a massive underpay, and he did some quick research to discover that the average engineer was making $54,000 per year at the time. Robinson called HR about this discrepancy, and the company immediately offered him an additional $10,000 per year.

While $42,000 per year was still lower than average, Robinson saw the benefits of negotiating a higher salary. A single email increased his earnings by more than 30%. 

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The experience changed him, causing him to always stay on top of average salaries. Robinson said that he asks his peers how much they make to gauge if he is getting a fair salary. 

Be Open To New Opportunities

Robinson didn't stay at that first job for long. He worked in startups and moved from one job to the next, raising his salary along the way.

"I always kept my eyes open for new opportunities," he told CNBC.

He didn't just take new jobs. He also made a conscious effort to build connections with his peers. Those connections helped him land jobs at IBM, Amazon, Intel, Microsoft, and other tech giants. Working for those companies and job hopping helped him accelerate his earnings. It didn't take long for him to go from barely making 6-figures to being deep in the 6-figure range. Then, his annual earnings exceeded $1 million.

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Continue To Sharpen Your Skills

Even when his responsibilities and salary went up, Robinson told "CNBC Make It" that he continued to learn. He earned nine certificates and got an MBA while climbing the corporate ladder. He also saw that artificial intelligence was shaping into the next big thing and focused his expertise on AI.

He eventually retired with a $3.5 million portfolio and now follows the 4% rule. This rule states that you can live off an annual 4% withdrawal from your investments. The hope is that the investments grow at more than 4% each year to ensure you don't run out of money. The strategy has risks, but it's easier to pull off with a $3.5 million portfolio. 

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