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Your road to the RFD 100k individual Salary!

  • Last Updated:
  • Aug 19th, 2017 11:42 pm
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Jr. Member
User avatar
Oct 22, 2012
134 posts
20 upvotes
Toronto
what's your background in? How did you manage a 65k job right out of uni? I'm in my 4th year now and Im not sure how I'll be able to manage evne getting a job after graduating!!
Jr. Member
Dec 11, 2013
130 posts
44 upvotes
Toronto
thebigbully wrote:
Jul 13th, 2017 2:20 pm
what's your background in? How did you manage a 65k job right out of uni? I'm in my 4th year now and Im not sure how I'll be able to manage evne getting a job after graduating!!
Networking. <-- This is the most important skill to learn, regardless of field or ability. Not only will it help you find opportunities, but networking skills lend themselves to leadership and growth positions as well.

Once you get to a upper management position, those skills will help you build strong teams.

Start with Linkedin and your inner circle and go from there. Good networking is just getting to know people and then meeting even more people through them. Never ask for a job; if you do it right, they will offer you opportunities.
Deal Addict
Oct 18, 2014
1022 posts
288 upvotes
New York City
JFlash20 wrote:
Jul 13th, 2017 9:58 pm
Networking. <-- This is the most important skill to learn, regardless of field or ability. Not only will it help you find opportunities, but networking skills lend themselves to leadership and growth positions as well.

Once you get to a upper management position, those skills will help you build strong teams.

Start with Linkedin and your inner circle and go from there. Good networking is just getting to know people and then meeting even more people through them. Never ask for a job; if you do it right, they will offer you opportunities.
Great advice!

65k for new undergrads are pretty common when you hang out in the right social circle of friends.
Deal Addict
User avatar
Aug 3, 2006
3630 posts
393 upvotes
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.
Obviously you don't understand what the sunshine list is. It's a provincially mandated declaration of names of staff working for organizations that receive funding from the Ontario government. The point of its creation is to provide transparency in government (funding). This doesn't mean that making over $100k is easiest by working in Ontario. The sunshine list is limited only to organizations which receive government funding (anywhere from 1% to 100%).
Deal Addict
Nov 2, 2013
4476 posts
740 upvotes
Edmonton, AB
JFlash20 wrote:
Jul 13th, 2017 9:58 pm
Networking. <-- This is the most important skill to learn, regardless of field or ability. Not only will it help you find opportunities, but networking skills lend themselves to leadership and growth positions as well.

Once you get to a upper management position, those skills will help you build strong teams.

Start with Linkedin and your inner circle and go from there. Good networking is just getting to know people and then meeting even more people through them. Never ask for a job; if you do it right, they will offer you opportunities.
+1 - Some companies hire only through word of mouth and many openings are not published. Even if you don't like something about a person, it can pay later when you find work through him/her. Associating with all sorts of people from different backgrounds, places, hobbies, and social cliques also opens your eyes and you learn a lot. Even if someone builds houses for a living he/she may work with another person whose boss one day ends up looking for an accountant. A car salesman may one day ask around for a new person for the dealership's financial department.

Some positions are especially hard to find someone reliable- where the wrong person can cost the company tens of thousands. Companies try to only advertise these as a last resort, as they see employing a random person is higher risk than someone who can put in a good word for someone. Or they can just be lazy and don't want to go through the process of looking for random people.

Understandably this is RFD and we like to pinch pennies to save income, nevertheless most people overlook getting a second job or starting a side business as an additional source of money- often much more than what one of us would get trying to trim $20 off a cellphone bill or using 1 roll of a toilet paper instead of 2. The other aspect you'd miss out on is the networking oppertunities that the additional income brings, as you associate with more people.
Deal Addict
May 31, 2007
4022 posts
1123 upvotes
Did anyone notice their quality of life didn't increase with certain salary increase, or relationships with spouse or kids declined as responsibility/ time/ effort increased?

I am curious for career development but confused if chasing higher income will be worth it, and at what cost.
Newbie
Mar 17, 2010
65 posts
52 upvotes
Toronto
Jungle wrote:
Aug 10th, 2017 6:06 pm
Did anyone notice their quality of life didn't increase with certain salary increase, or relationships with spouse or kids declined as responsibility/ time/ effort increased?

I am curious for career development but confused if chasing higher income will be worth it, and at what cost.
^^THIS...this is very important to know. For me personally, I went something like this...

2008 - Started first career job after university ($45k)
2010 - Promoted in the same organization ($55k) (got married)
2012 - Changed companies ($75k) (marriage woes began, long hours at jobs for both of us)
2015 - Promoted in the same company ($100k) (married life continued to take toll since we were both highly career driven)
2016 - Divorced, left high paying stressful job and joined a new company ($80K)
2017 - Got back on my feet again, feeling better, started working out and enjoying life again, changed company yet again for a better opportunity ($90k)...I like the spot that I'm in right now, job is challenging enough but not overwhelming in terms of hours required. A normal week is betweek 40-50 hours.

So for me, it was hard to manage both career and personal life. I've seen couples who can do a good job at it but it definitely requires a lot of compromise and patience.
Deal Fanatic
User avatar
Jul 12, 2003
7344 posts
691 upvotes
Markham
^

Therefore, money (salary) is not the only thing when you look at for a job. Everyone needs a job / life balance. Of course a lot or people can make over 100k if you are working for 2 jobs or work mad OT to crank the 1.5x OT pay or 2X pay to work on statue holiday.

Some stage, you need to get on your way and work hard to move up. Some stage, you need to relax and slow down and look at other stuff that's also important in life (partner, kids, hobbies, parents, etc)
Retired Forum Moderator February 2009 - June 2015
Newbie
Apr 18, 2017
78 posts
20 upvotes
Just out of curiousity, how much do people value working from home? Like I make 50k a year and I have a laptop and can work from home 3 out of 5 days a week. Say if a opportunity came up for 55k-60k but don't have the option to work from home, should I consider it? It takes me a good hour each way to travel from work/home and have to take transit since the office is in downtown and since parking is $18 a day.
Sr. Member
Jun 27, 2005
997 posts
115 upvotes
Oakville, ON
MP3_SKY wrote:
Aug 11th, 2017 12:59 pm
^

Therefore, money (salary) is not the only thing when you look at for a job. Everyone needs a job / life balance. Of course a lot or people can make over 100k if you are working for 2 jobs or work mad OT to crank the 1.5x OT pay or 2X pay to work on statue holiday.

Some stage, you need to get on your way and work hard to move up. Some stage, you need to relax and slow down and look at other stuff that's also important in life (partner, kids, hobbies, parents, etc)
I agree, however I would say increased salary only doesn't make sense if you have to put in more and more overtime to achieve it. If you can stay within the low 40s hours/week range, quality of life increases almost linearly as salary I would say until about 200k household (or 100k individual) income level. After that, most people probably hit diminishing returns... there are several articles / research studies online about this.
hockeyfan1990 wrote:
Aug 11th, 2017 1:52 pm
Just out of curiousity, how much do people value working from home? Like I make 50k a year and I have a laptop and can work from home 3 out of 5 days a week. Say if a opportunity came up for 55k-60k but don't have the option to work from home, should I consider it? It takes me a good hour each way to travel from work/home and have to take transit since the office is in downtown and since parking is $18 a day.
Depends on your stage in life and priorities. For example, working from home is much more valuable with family/kids. Personally (early-mid career, married, no kids) I would compare position/roles and company/opportunities before I look at salary and/or work from home.

To compare strictly numbers, I would take: salary + travel costs (transit, car/gas, etc.) + commute time*hourly rate - to see the true additional income you'd be looking at by not working at home. e.g. let's say $5 transit round-trip cost, working 40hrs/week

i.e. 50k + 2days/week@$5*52 weeks + 2hrs/day*2days/week*52weeks*(50k/2080hrs/year) = approx 55.5k
Deal Fanatic
User avatar
Jul 12, 2003
7344 posts
691 upvotes
Markham
hockeyfan1990 wrote:
Aug 11th, 2017 1:52 pm
Just out of curiousity, how much do people value working from home? Like I make 50k a year and I have a laptop and can work from home 3 out of 5 days a week. Say if a opportunity came up for 55k-60k but don't have the option to work from home, should I consider it? It takes me a good hour each way to travel from work/home and have to take transit since the office is in downtown and since parking is $18 a day.
Any opportunity to move on?
If no, just another dead end job pay you fix salary, no room to grow. I wouldn't do it.

Depending of where you live, most people leave outside of core DT take 1hr+ to go to work by Go Train, or TTC.
1hr+ go and back is 2 to 3 hours you spent in commute per day + cost of transportation.
Did you factor in your commute hours and transportation costs?

After all, you may even take a loss of your net income.
For 5-10k difference, I wouldn't jump.
Retired Forum Moderator February 2009 - June 2015
Deal Addict
Sep 7, 2004
1132 posts
180 upvotes
hockeyfan1990 wrote:
Aug 11th, 2017 1:52 pm
Just out of curiousity, how much do people value working from home? Like I make 50k a year and I have a laptop and can work from home 3 out of 5 days a week. Say if a opportunity came up for 55k-60k but don't have the option to work from home, should I consider it? It takes me a good hour each way to travel from work/home and have to take transit since the office is in downtown and since parking is $18 a day.
I wouldn't. If you're currently at $50k and you take on a new job with more responsibilities and a long commute time with parking/transit costs your $5k-$10k raise take home pay will essentially be eaten up by the incremental costs.

At the beginning few years of my career I went from $48-$54-$60. Each time I expected to see a large increase in my take home pay but the actual amounts after taxes and deductions amounted to no more than $100-$150 extra per pay. Certainly nothing life changing.
Member
Feb 16, 2013
321 posts
432 upvotes
Toronto
Jungle wrote:
Aug 10th, 2017 6:06 pm
Did anyone notice their quality of life didn't increase with certain salary increase, or relationships with spouse or kids declined as responsibility/ time/ effort increased?

I am curious for career development but confused if chasing higher income will be worth it, and at what cost.
Pretty much.
You just work more, pay more in taxes and get burned out faster.
Probably die faster too.
Newbie
Apr 18, 2017
78 posts
20 upvotes
2heaven wrote:
Aug 11th, 2017 3:16 pm

I agree, however I would say increased salary only doesn't make sense if you have to put in more and more overtime to achieve it. If you can stay within the low 40s hours/week range, quality of life increases almost linearly as salary I would say until about 200k household (or 100k individual) income level. After that, most people probably hit diminishing returns... there are several articles / research studies online about this.



Depends on your stage in life and priorities. For example, working from home is much more valuable with family/kids. Personally (early-mid career, married, no kids) I would compare position/roles and company/opportunities before I look at salary and/or work from home.

To compare strictly numbers, I would take: salary + travel costs (transit, car/gas, etc.) + commute time*hourly rate - to see the true additional income you'd be looking at by not working at home. e.g. let's say $5 transit round-trip cost, working 40hrs/week

i.e. 50k + 2days/week@$5*52 weeks + 2hrs/day*2days/week*52weeks*(50k/2080hrs/year) = approx 55.5k
MP3_SKY wrote:
Aug 11th, 2017 3:27 pm

Any opportunity to move on?
If no, just another dead end job pay you fix salary, no room to grow. I wouldn't do it.

Depending of where you live, most people leave outside of core DT take 1hr+ to go to work by Go Train, or TTC.
1hr+ go and back is 2 to 3 hours you spent in commute per day + cost of transportation.
Did you factor in your commute hours and transportation costs?

After all, you may even take a loss of your net income.
For 5-10k difference, I wouldn't jump.
gqbluez wrote:
Aug 11th, 2017 5:18 pm

I wouldn't. If you're currently at $50k and you take on a new job with more responsibilities and a long commute time with parking/transit costs your $5k-$10k raise take home pay will essentially be eaten up by the incremental costs.

At the beginning few years of my career I went from $48-$54-$60. Each time I expected to see a large increase in my take home pay but the actual amounts after taxes and deductions amounted to no more than $100-$150 extra per pay. Certainly nothing life changing.
It's actually within the same company. It's a different role altogether. I'd consider it as a step in the right direction and "moving up" slowly. Still lots of room for better opportunities. Salary is 5-10k higher but I will lose my opportunity to work from home because of the nature of the new job.
Deal Expert
Aug 2, 2004
23922 posts
2301 upvotes
East Gwillimbury
hockeyfan1990 wrote:
Aug 12th, 2017 9:19 pm
It's actually within the same company. It's a different role altogether. I'd consider it as a step in the right direction and "moving up" slowly. Still lots of room for better opportunities. Salary is 5-10k higher but I will lose my opportunity to work from home because of the nature of the new job.
I wouldn't do it for a $10k increase. After tax it is negligible and you're running downtown everyday. Factor in the commute time and you're actually making less per hour.

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