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Your road to the RFD $100k individual Salary!

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  • Dec 18th, 2018 9:53 pm
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Deal Fanatic
Dec 11, 2008
8901 posts
878 upvotes
TrafficEng wrote:
Mar 1st, 2018 7:11 am
A DB plan is not better than doublr digit annual bonuses, stock purchase plans , expense accounts . We have unlimited sickleave and much better benefits package than govt with flex dollars that can be paid out as well. I don't think a DB plan is worth lower salary to start let alone the easy extra 20% a year from bonuses and stock purchase plans

Also better vacation... govt if I were to go back would start me off at 3 weeks...I started with 4 weeks at my current gig, signing bonus as well in addition to the annual bonus and stock purchase plans...way better than the only "advantage" of a db pension plan
It's hard to compare because government benefits/pensions etc all vary just like private sector. It also depend on your profession and what level of employment you want to be in as well (Manager, Director, VP etc).

Besides the pension, some benefits are better at 100% coverage even though there may not be options to spend it elsewhere and also include health benefits at full service even after retirement and sometimes with better spousal support for pension and health/dental etc.

Vacation may start at 3 weeks but usually caps at 6 weeks and you earn them much faster and get paid out for any extra earned beyond 6 weeks. I got my 4 weeks at year 5, and will get 5 weeks in 13 years and 6 weeks at 23 years etc. Depending on which sector, some don't even get 6 weeks ever.

And most decent companies do have 100% sick leave and LTD anyways.

The only thing I compare is based on the private companies I know of vs my knowledge of government. But the reality is, if one spouse works in government, the other in private you can get the best of both worlds and if it works out that one in private really works hard and strives to move up, you can really maximize the benefits of being a top performer in addition to all the perks in both places. We use my health/dental because it's 100% paid and we use my husband's flex dollars to pay for "health/wellness" like supplements, gym memberships and health-related activities etc. Take advantage of stock options etc etc. He can take more risks since my employment is more secure.
Deal Fanatic
Nov 2, 2013
5248 posts
1115 upvotes
Edmonton, AB
Some companies also have partial incentive pay systems, such as offering shares in the company as a portion of the pay, or part of a profit sharing program. That can skew the incomes a bit and explain some discrepancies, especially if it's a smaller company with rapid room for growth and high potential to be bought out; in the latter case, sometimes the shares can double in value quickly.

Don't like stereotyping but here in the west, the joke but also a true rationale used for working in the public sector, is the perceived security that it's hard for them to get rid of you. So you can be lazy and useless. Not to say everyone in the public sector fits that description, but it's common. There is also that.

A lot of ambitious developers also become self-employed, so don't rule out that opportunity. The world is your oyster if you want it to be.

TrafficEng wrote:
Feb 27th, 2018 8:05 am
Because you associate with others who share similar characteristics, values, abilities etc.

Its like how druggies have sketch friends. Friends and acquaintances aren't randomly selected.

Also while median with degree is 82k in Ontario for males... obviously there's a difference if you go down to program/school/abilities of the population with a degree

I know of a bad/mediocore developer who doesn't make 85k 10 years out of school but the guy can't even write or read properly or create a basic stack..he has a degree in CS though. But he's the half that is below median and all his developer friends no doubt of similar low quality and earnings .

There are no doubt low pay developer positions as well. I mean take a look at the pathetic pay from a govt agency offering $36/hr for a developer!

http://applytoeducation.com/Applicant/A ... e=en&maf=0
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Newbie
Jul 21, 2012
19 posts
1 upvote
Cowtown
Most gov't agencies don't have an outside employment restriction, so that's how I got to 100K + DB pension on my Gov't salary.

25: 43K
26: 60K (promo)
27: 75K (switched jobs)
28: 87.5K (switched jobs again -- to gov't) + 20K from consulting business related to previous job
Deal Fanatic
User avatar
Dec 27, 2009
5728 posts
2917 upvotes
Ottawa, ON
speedyforme wrote:
Mar 1st, 2018 7:50 am
And most decent companies do have 100% sick leave and LTD anyways.
I've worked for many companies, and some of them even "decent" and never had anything that even begins to compare with the government sick leave entitlement. 15 days a year with federal government and they can keep on accumulating. When I still lived in Victoria I applied for a position at one of the municipal governments and they had 18 days paid sick leave annually.
Member
Apr 14, 2017
496 posts
158 upvotes
DT Calgary
speedyforme wrote:
Mar 1st, 2018 7:50 am
It's hard to compare because government benefits/pensions etc all vary just like private sector. It also depend on your profession and what level of employment you want to be in as well (Manager, Director, VP etc).

Besides the pension, some benefits are better at 100% coverage even though there may not be options to spend it elsewhere and also include health benefits at full service even after retirement and sometimes with better spousal support for pension and health/dental etc.

Vacation may start at 3 weeks but usually caps at 6 weeks and you earn them much faster and get paid out for any extra earned beyond 6 weeks. I got my 4 weeks at year 5, and will get 5 weeks in 13 years and 6 weeks at 23 years etc. Depending on which sector, some don't even get 6 weeks ever.

And most decent companies do have 100% sick leave and LTD anyways.

The only thing I compare is based on the private companies I know of vs my knowledge of government. But the reality is, if one spouse works in government, the other in private you can get the best of both worlds and if it works out that one in private really works hard and strives to move up, you can really maximize the benefits of being a top performer in addition to all the perks in both places. We use my health/dental because it's 100% paid and we use my husband's flex dollars to pay for "health/wellness" like supplements, gym memberships and health-related activities etc. Take advantage of stock options etc etc. He can take more risks since my employment is more secure.
Almost no private companies have sick days.
Banned
Dec 22, 2017
322 posts
129 upvotes
FreshCo wrote:
Mar 13th, 2018 6:21 pm
Almost no private companies have sick days.
All the big ones do... they pay out if not used and maybe referred to as personal days.
Member
Apr 14, 2017
496 posts
158 upvotes
DT Calgary
TrafficEng wrote:
Mar 13th, 2018 7:07 pm
All the big ones do... they pay out if not used and maybe referred to as personal days.
Ya personal days, but you buy those with your salary. Whats your point? Government jobs they're free, private sector you pay for them.
Last edited by FreshCo on Mar 13th, 2018 8:39 pm, edited 2 times in total.
Newbie
Nov 20, 2016
92 posts
73 upvotes
FreshCo wrote:
Mar 13th, 2018 8:39 pm
Ya personal days, but you buy those with your salary. Whats your point? Government jobs they're free, private sector you pay for them.
What do you mean by "you buy those with your salary"?
Member
Apr 14, 2017
496 posts
158 upvotes
DT Calgary
Hanniballs wrote:
Mar 13th, 2018 8:43 pm
What do you mean by "you buy those with your salary"?
Meaning you have money deducted from your salary for those additional days off.
Deal Addict
Apr 21, 2014
1871 posts
641 upvotes
Alberta
TrafficEng wrote:
Mar 13th, 2018 7:07 pm
All the big ones do... they pay out if not used and maybe referred to as personal days.
Most companies don’t have sick days. If you’re sick you’re sick. You get paid for it.
Newbie
Sep 2, 2017
13 posts
5 upvotes
Just out of curiosity, those who are making $100k+/year, could you give a ball-park range of your net worth?
Any side hustle such as in real estate or stock portfolio to supplement your earnings? Or are you focused purely on getting higher income?
Deal Addict
Mar 7, 2011
3036 posts
1099 upvotes
Vancouver
abc123yyz wrote:
Mar 13th, 2018 10:50 pm
If you’re sick you’re sick. You get paid for it.
LOL, what ?!?
Banned
Dec 22, 2017
16 posts
2 upvotes
charlesd79 wrote:
Mar 14th, 2018 2:21 am
LOL, what ?!?
There is no predetermined number of sick days, if you're sick, you just take time off and get paid for it. If you're consistently sick or sick over a long period, they will shift you over to SHort term disability
Deal Fanatic
Dec 11, 2008
8901 posts
878 upvotes
splatapus wrote:
Mar 14th, 2018 12:08 am
Just out of curiosity, those who are making $100k+/year, could you give a ball-park range of your net worth?
Any side hustle such as in real estate or stock portfolio to supplement your earnings? Or are you focused purely on getting higher income?
For us, no side job as the taxes rarely give us much incentive. Investments sure but we ended up purchasing a house.

I don't think our net worth is that impressive. The two of us who each earn $100k-ish have a combined net worth of like $1.3M or so and we are 35 yrs old.

I have always made decent money and the post I made somewhere re: my income throughout my years have started from around $60k to $100k in the 12 years I worked so we have many years to save up. My husband was the same except he didn't make as much as me overall and he took almost 3 years off to do his MBA which cost us income and savings.
Deal Addict
Nov 13, 2013
1370 posts
529 upvotes
OTTAWA
FreshCo wrote:
Mar 13th, 2018 6:21 pm
Almost no private companies have sick days.
In small to medium sized companies most salaried professionals don't get docked any pay for sick days. Usually these aren't even tracked (officially). Giving an allotment of days really encourages abuse or at least over-use.

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