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Your road to the RFD $100k individual Salary!

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  • Jan 18th, 2019 9:09 pm
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Jr. Member
Dec 20, 2018
195 posts
119 upvotes
charlesd79 wrote:
Dec 31st, 2018 4:36 am
Which sector, may I ask? Sorry, I don't keep tabs on everyone :D
Consulting (business, IT, outsourcing, etc)
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Jul 14, 2008
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StatsGuy wrote:
Dec 30th, 2018 4:37 pm
If you just look at age, sure but average is meaningless. You need to look at the subset she is part of (level of education and area, location, working FT or not?)

Do you know how to look at census data? Many just look at average and think it's comparable when it's not since it'll include those not working full-time, those with no education, those on disability or in school/retired etc

You need to control for age, education, experience, geography, sector , employment status, gender, ethnicity, citizenship status

In my sector, late 20s making 100k or more is average and the norm. Co-op are 60k a year and new grads are starting at 70k or so and those are people in early 20s, so 100k in late 20s is the norm

But this is our sector
Sure, if you control for ALL of those things, you’re no longer asking “is 100k high for my age”, but “how does my salary compare to others in the same industry with the same experience etc” ;) But that wasn’t the person’s question. ;)

The blunt answer is yes, 100k is towards the upper tier for someone in their 20s, looking at age alone. It doesn’t help that your point of reference is IT consulting, for instance, in which 100K is roughly a rate of $400/day, which is on the lower end of the scale definitely. It doesn’t take long for someone to be in the $800-1000/day bracket for that kind of work. But how many other industries compare to that for someone in their late 20s early 30s?

So yes, based on age along, 100k in their 20s is doing very well.
Jr. Member
Dec 20, 2018
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onlineharvest wrote:
Dec 31st, 2018 11:47 am
Sure, if you control for ALL of those things, you’re no longer asking “is 100k high for my age”, but “how does my salary compare to others in the same industry with the same experience etc” ;) But that wasn’t the person’s question. ;)

The blunt answer is yes, 100k is towards the upper tier for someone in their 20s, looking at age alone. It doesn’t help that your point of reference is IT consulting, for instance, in which 100K is roughly a rate of $400/day, which is on the lower end of the scale definitely. It doesn’t take long for someone to be in the $800-1000/day bracket for that kind of work. But how many other industries compare to that for someone in their late 20s early 30s?

So yes, based on age along, 100k in their 20s is doing very well.
The other person was talking about average. It's meaningless to compare just on age without accounting for other variables as basic as location for example

And if you read the post, it's late 20s which is a subset of your 20's already and this proves my point, 20s is a 10 year range which will have a big impact on what the "average" earnings will be . But yes, overall, 100k for someone in their late 20s is above average but it's useless as average will include those living in Newfoundland with no education on disability . Is that what the person asking the question wants as a reference point? Or do they want comparison to someone like them with similar location, education, experience and sector as reference population?
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StatsGuy wrote:
Dec 31st, 2018 11:57 am
The other person was talking about average. It's meaningless to compare just on age without accounting for other variables as basic as location for example

And if you read the post, it's late 20s which is a subset of your 20's already and this proves my point, 20s is a 10 year range which will have a big impact on what the "average" earnings will be . But yes, overall, 100k for someone in their late 20s is above average but it's useless as average will include those living in Newfoundland with no education on disability . Is that what the person asking the question wants as a reference point? Or do they want comparison to someone like them with similar location, education, experience and sector as reference population?
I don’t know it seems like a simple question. And the answer is yes. It’s perfectly reasonable to discuss other factors like comparisons to industry averages, level of experience, but again, not the question.

And to be honest, there are plenty of people doing the same job as “consultants” who make less. So even if you were to look at the specific job in question, it may still be better than average. Sure, narrow it down to consultants only and yes, there is definitely room to grow, and it short order will likely be at 500-600/day.

But for the age, upper 20s, regardless of what they’re doing, I think it’s crazy not to answer with an immediate affirmative, YES, OF COURSE THAT IS GOOD FOR LATE 20s!
Last edited by onlineharvest on Jan 1st, 2019 12:47 am, edited 1 time in total.
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Mar 7, 2011
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Vancouver
angryaudifanatic wrote:
Dec 12th, 2018 9:07 am
As already mentioned, tradespeople (skilled ones) are an example of "blue collar" workers that make 6 figures.
angryaudifanatic wrote:
Dec 12th, 2018 9:07 am
You have not taken into account overtime which is a large part of these trades.
Just a comment I found here https://www.facebook.com/cbcnews/posts/ ... 5447584604
But hey, what do I know, eh...

Unless you know someone, and can thereby get into a union, the wages in many trades have stagnated.
HVAC is a good example. Outside of a unionized environment, there are few private commercial companies paying more than $32/hr piecework. And many of those will have you hide the travel time between calls in the customer's bill. If you are too ethical to do this, and your company sends you to job sites that are far apart, YOU GET ZERO for travel time.
How many days my husband was "at work" for 14 hours, and got paid for 6 or 8.....and that was with a better paying company. He did this for years. Every company he worked for, same bs.
Not worth it.
Now he's in a unionized environment. It's not full service, so he took a pay cut, but at least he gets paid for the time he spends "at work".
Residential HVAC? Don't bother.


Another one

People who complain about trades being too expensive have no clue how expensive it is to be in trades, especially for self employed people. Thousands of dollars in tools, training, multiple insurances, WCB, business licences, permitting fees, vehicle maintenance and gas. Plus you don’t see the unpaid hours evenings and weekends, working on quotes, invoicing, making phone calls....all after they’ve already worked a 10 hour day. After the overhead, they often end up making like $17 an hour.

There are a lot of contractors who hire guys. Charge out at $75 and give the trades man $27

Like I said before so many times, isn't Capitalism great?
Jr. Member
Dec 20, 2018
195 posts
119 upvotes
onlineharvest wrote:
Dec 31st, 2018 1:54 pm
I don’t know it seems like a simple question. And the answer is yes. It’s perfectly reasonable to discuss other factors like comparisons to industry averages, level of experience, but again, not the question.

And to be honest, there are plenty of people doing the same job as “consultants” who make less. So even if you were to look at the specific job in question, it may still be better than average. Sure, narrow it down to consultants only and yes, there is definitely room to grow, and it short order will likely be at 500-600/day.

But for the age, upper 20s, regardless of what they’re doing, I think it’s crazy not to answer with an immediate affirmative, YES, OF COURSE THAT IS GOOD FOR LATE 20s!
Simple question indeed, I mean why would she as someone working FT with an education in tech living in Toronto compare her salary to include a HS grad living in Newfoundland not working full-time?

A simple and reasonable deduction would be she wants to compare to her "peers". Much like I wouldn't compare my salary to someone based simply in age and will include someone in disability not working?

When you negotiate salary, you compare with peers with similar qualifications right?

What if she was an ivy league grad? She maybe at low end or below average in earnings even based just on age
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StatsGuy wrote:
Jan 1st, 2019 1:53 am
Simple question indeed, I mean why would she as someone working FT with an education in tech living in Toronto compare her salary to include a HS grad living in Newfoundland not working full-time?

A simple and reasonable deduction would be she wants to compare to her "peers". Much like I wouldn't compare my salary to someone based simply in age and will include someone in disability not working?

When you negotiate salary, you compare with peers with similar qualifications right?

What if she was an ivy league grad? She maybe at low end or below average in earnings even based just on age
You are being needlessly obtuse. It’s clear from the post and question it was an age related question. “Is 150k for someone in their 20s a lot of money?”

Yes or No. Regardless of the position, experience etc $150k is a lot of money for anyone of any age, let alone someone in their late 20s.

The fact you keep pointing out how looking across the board at stats is meaningless because it reveals how high an income of $150k comparitively is - which is exactly the question - actually answers the question now doesn’t it?
Member
May 13, 2009
498 posts
11 upvotes
2014 - Graduated with starting salary @ 55K
2015 - 67K (64K + 3K bonus)
2016 - 78K (74K + 4K bonus)
2017 - 97K (87K + 10K bonus)
2018 - 119K (104K + 15K bonus)
Sr. Member
Nov 10, 2018
706 posts
420 upvotes
Asuky11 wrote:
Jan 2nd, 2019 1:52 am
2014 - Graduated with starting salary @ 55K
2015 - 67K (64K + 3K bonus)
2016 - 78K (74K + 4K bonus)
2017 - 97K (87K + 10K bonus)
2018 - 119K (104K + 15K bonus)
What happened between 2016/2017? That's almost a $20K jump!
For legal topics and discussions, the opinion, guidance, and thoughts provided are my own and are not considered to be legal advice, in any manner.
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Apr 21, 2014
1911 posts
668 upvotes
Alberta
abc123yyz wrote:
Aug 16th, 2017 1:18 pm
Don't remember exact salaries, but I set a goal to make 100k base salary by the time I hit 30 (got there with 2 months to spare lol).

From what I remember

2011: 103k (30th birthday year)
2013: 112k
2013: Left to another company because they shut down my regional office 135k
2014: Company got taken over and was layed off. Got another job after a few months 135k
2015: No raises for anybody still 135k (economy in Alberta)
2016: 137k (small bump)
2017: 150k USD - just left to another company (moved to USA)

All were with bonus. From 2014 onwards the target bonus was 30% but it never has paid out at that level, I think last year's bonus was around 19-20%. The new company here in the US has a history of paying out full bonus, but let's see what happens!
Just to update this. My company got taken over and will be closing the head office sometime in 2019. Got another job.

2019: 160k usd + 25% bonus.

My bonus has been highly variable because the companies haven’t performed as well as they have hoped. So nobody has received target bonus for the last several years. The new company is 100% personal performance. So let’s see.
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Jul 30, 2010
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abc123yyz wrote:
Jan 2nd, 2019 12:25 pm
Just to update this. My company got taken over and will be closing the head office sometime in 2019. Got another job.

2019: 160k usd + 25% bonus.

My bonus has been highly variable because the companies haven’t performed as well as they have hoped. So nobody has received target bonus for the last several years. The new company is 100% personal performance. So let’s see.
Wow, what is your field?
Sr. Member
Sep 7, 2009
550 posts
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abc123yyz wrote:
Jan 2nd, 2019 12:25 pm
Just to update this. My company got taken over and will be closing the head office sometime in 2019. Got another job.

2019: 160k usd + 25% bonus.

My bonus has been highly variable because the companies haven’t performed as well as they have hoped. So nobody has received target bonus for the last several years. The new company is 100% personal performance. So let’s see.
Nice growth. What is your wife's salary?
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Apr 21, 2014
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holden wrote:
Jan 2nd, 2019 12:54 pm
Nice growth. What is your wife's salary?
Unfortunately because I am on a TN visa my wife can not work.
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Apr 21, 2014
1911 posts
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Alberta
LeisureSuitL wrote:
Jan 2nd, 2019 12:29 pm
Wow, what is your field?
I'm a CPA,CA. Controller of a public company (new position). Prior to that I was a Director of Finance.
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Sep 7, 2009
550 posts
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abc123yyz wrote:
Jan 2nd, 2019 2:01 pm
Unfortunately because I am on a TN visa my wife can not work.
Have you needed to come back to Canada since Trump took over and have you had any issues? My cousin works on a visa in investment banking and his employer has recommended him not to travel outside the country too much.

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