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Your road to the RFD 100k individual Salary!

  • Last Updated:
  • Aug 17th, 2017 11:03 pm
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Jr. Member
Apr 14, 2017
187 posts
60 upvotes
DT Calgary
The new benchmark should be the road to 200k. Once you've hit that mark (salary, bonus, allowances, etc) you have made it.
Deal Addict
Nov 2, 2013
4475 posts
740 upvotes
Edmonton, AB
FreshCo wrote:
Jun 10th, 2017 4:58 pm
The new benchmark should be the road to 200k. Once you've hit that mark (salary, bonus, allowances, etc) you have made it.
But, relative to the Old Money or Immigrant and Foreign Money in Vancouver and Toronto, you're still poor. You could compare yourself forever but you'll never be happy that way.

Though know what you mean. Years ago 100K was considered the prestigious benchmark. Nowadays that same 100K as much less buying power.

e.g. Remember 7 years ago when I started going to school, we used to talk about making $100K being the road to being a baller. Nowadays that 100K is like making 120K today. Coincidently my siblings' home now costs $160K more to buy since then.
Newbie
Dec 16, 2008
5 posts
5 upvotes
Toronto
And of course, if you want to increase your odds of earning $100K and live in Ontario check the sunshine list.
Ontario power generation, correctional services, TDSB, Toronto Police Service, University of Toronto, Attorney General, TTC, York University and the University of Ottawa are the top 10 sunshine list employers.
Member
Mar 21, 2013
412 posts
148 upvotes
EDMONTON
2012 - Finish education (BA, MBA, JD)
2013 - Articling - $42k
2014 - Leave law and Become real estate agent - $110k net
2015 - Real estate - $100k net
2016 - Get bored of doing only real estate get academic policy job while continuing real estate - $150k net
2017 - Both jobs again - on pace to surpass last year

I like running my own show, and I get to do that. I work from home most days when I am not running around. Have flexibility, can take care of my dogs, etc. Plan to eventually incorporate and might branch out to building, etc in the coming years.
Deal Addict
Dec 5, 2015
1252 posts
396 upvotes
Thornhill, ON
ellis123 wrote:
Jun 10th, 2017 6:59 pm
And of course, if you want to increase your odds of earning $100K and live in Ontario check the sunshine list.
Ontario power generation, correctional services, TDSB, Toronto Police Service, University of Toronto, Attorney General, TTC, York University and the University of Ottawa are the top 10 sunshine list employers.
Those who are qualified to be on sunshine list would already be making money and/or know how to get there

Not like people can just go apply to be a principal or engineer with opg and make 100k or be a police Constable
Deal Addict
Nov 2, 2013
4475 posts
740 upvotes
Edmonton, AB
Doubleshot wrote:
Jun 12th, 2017 6:17 pm
Those who are qualified to be on sunshine list would already be making money and/or know how to get there

Not like people can just go apply to be a principal or engineer with opg and make 100k or be a police Constable
Or the 100K+ is earned not from working for someone, or doing something not widely publicized. Problem is when too many people know about something then everyone jumps into it and saturates it as they are willing to do more for less.
Newbie
Aug 11, 2005
7 posts
Finished my BBA in 2010 at 24 year old. Now 31.

2010 - 46K
2012 - 72K (Promotion)
2013 - 77K
2014 - 81K
2015 - 84K

Did an MBA between 2014-2016

2016 - 100K (changed job)
2017 - 110K
Sr. Member
Sep 23, 2011
639 posts
349 upvotes
LAVAL
I'm 26

Started working at a bank, customer service at 20 years old, part time, in 2011 while going to school, 31k if I worked full time
2012- investment advisor, 36k
2013- credit analyst, 41k
2015- changed employer, residential mortgage underwriter, 52k, with bonus and OT, pretty much 65-70k
2016-2017: Realized that I'd never be financially comfortable following the conventional way. Even if I became a manager, I'd make 75k-80k. I wanted more and faster and get compensated by the effort I put in. Became a mortgage advisor for the same bank (commission only). Worked my ass off, developed business non-stop, many sleepless nights and finally, on my way to make 300k in my first full year.
Deal Addict
Nov 2, 2013
4475 posts
740 upvotes
Edmonton, AB
Lemig0s wrote:
Jul 1st, 2017 3:25 am
I'm 26

Started working at a bank, customer service at 20 years old, part time, in 2011 while going to school, 31k if I worked full time
2012- investment advisor, 36k
2013- credit analyst, 41k
2015- changed employer, residential mortgage underwriter, 52k, with bonus and OT, pretty much 65-70k
2016-2017: Realized that I'd never be financially comfortable following the conventional way. Even if I became a manager, I'd make 75k-80k. I wanted more and faster and get compensated by the effort I put in. Became a mortgage advisor for the same bank (commission only). Worked my ass off, developed business non-stop, many sleepless nights and finally, on my way to make 300k in my first full year.
It's pretty amazing what you can make at commission gigs if you are good. In the west in vehicle dealerships the commission people who are good hit a similar figure. The salary people in say Service or some other department are happy to see $70-80K after some years. But in Sales and Finance some are given base salary, then paid strict percentage or per unit commission. In Alberta $500/vehicle is a common figure, $1000/vehicle for high end ones like Porsches. I used to know one lady at the Edmonton Porsche who was selling on average one a day in the good years.

But if you suck you'd be happy to see maybe $40K. I'm curious- what made you pick that path instead of being a mortgage broker? Curious as I've been brainstorming things to do on the side when things are slow for my usual lines of work- piece rate work in particular as to be rewarded based on performance.
Deal Addict
User avatar
Aug 11, 2003
1249 posts
36 upvotes
GTA (West)
100k isn't all that these days. Perhaps 10-15 yrs ago.. yes maybe. These days you're looking at around maybe 150+ etc.
Please thank me if you find this helpful
Deal Addict
Oct 18, 2014
1019 posts
284 upvotes
New York City
FreshCo wrote:
Jun 10th, 2017 4:58 pm
The new benchmark should be the road to 200k. Once you've hit that mark (salary, bonus, allowances, etc) you have made it.
True. All my classmates/colleagues make at least $100k. Those that make $200k (handful) are the same superstars in class.
Sr. Member
Sep 23, 2011
639 posts
349 upvotes
LAVAL
FirstGear wrote:
Jul 1st, 2017 2:07 pm
It's pretty amazing what you can make at commission gigs if you are good. In the west in vehicle dealerships the commission people who are good hit a similar figure. The salary people in say Service or some other department are happy to see $70-80K after some years. But in Sales and Finance some are given base salary, then paid strict percentage or per unit commission. In Alberta $500/vehicle is a common figure, $1000/vehicle for high end ones like Porsches. I used to know one lady at the Edmonton Porsche who was selling on average one a day in the good years.

But if you suck you'd be happy to see maybe $40K. I'm curious- what made you pick that path instead of being a mortgage broker? Curious as I've been brainstorming things to do on the side when things are slow for my usual lines of work- piece rate work in particular as to be rewarded based on performance.
Since I was an underwriter for that institution, I already know all the underwriting process, all the programs and tricks etc. Also, independent mortgage brokers have way more expenses and are harder to get business. They dont have a collective insurance (health, dental, pension, etc.) And they get less referrals from real estate agents. They also have to pay for their license every year.

I have good insurance just like if I was an employee and still can deduct expenses.

BTW you're right that you have to be good. Most people in my team make 30-45k
Deal Fanatic
User avatar
Nov 6, 2010
7851 posts
743 upvotes
100K may not be the definition of richness that it was a decade or two ago (I'd argue even 10-20 years ago it wasn't "rich", but certainly well off), but it's still a milestone to be achieved.

It's easy to look around yourself since we tend to surround ourselves with like-minded people, but only a fraction of working Canadians are above the 100k mark. Roughly 8% of working Canadians in 2014 made over 100k, with about 5.7% being in the 100k-200k range so while it's a growing category, it's still fairly narrow so I don't think it should be dismissed.

Not yet over the 100k bump, but last year I did 75k salary & roughly 35k freelance so on my way there soon hopefully.

For reference this is my 2nd job after a year of working with my 1st job being at 60k salary.
Deal Addict
Dec 5, 2015
1252 posts
396 upvotes
Thornhill, ON
FirstGear wrote:
Jun 10th, 2017 2:18 pm
Well, if you want to grow big, you have to be a big business at some point. Or for financing purposes to grow their assets and business, they would have to report high income to show to lender(s).

In theory if I split my income among my family members, I would pay much less tax. But I don't have that luxury because in order to finance a new rental property every year or two, I have to report $100K+ income.
Actually.. they like being smaller businesses with a few million in revenue a year and around 20 staff... they don't want to get bigger...when they bought their property..they just got cosignors and put more money down

They don't like or need to borrow from banks for their business really...they have enough cash flow to do it themselves since they don't want too much CRA attention

They pay their workers partially in cash (since they can't explain how they have so much $$ to pay workers based on reported revenue to CRA) ..the bigger you get..your overhead rises and it's harder to evade taxes

Reality is majority of small-med businesse engage in tax evasion and the owners all report a fraction of their true income
Jr. Member
User avatar
Oct 22, 2012
133 posts
20 upvotes
Toronto
What are some skills, certifications or other things you think would benefit a new grad trying to start a career in big data / analytics? I will soon be graduating with a BComm in Business Technology Management but want to pursue a big data career. Any input would be appreciated!!!

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