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Is 6 fig salary a meme in 2019?

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  • Feb 13th, 2019 9:17 pm
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Apr 27, 2010
451 posts
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Is 6 fig salary a meme in 2019?

I mean, if you are in the top tax bracket (250k+) then sure yeah that's decent but if you live in major cities like Vancouver or Toronto, it seems like everyone and their grandchildren are making 100k+
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Deal Addict
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Jul 30, 2010
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FPrince wrote: I mean, if you are in the top tax bracket (250k+) then sure yeah that's decent but if you live in major cities like Vancouver or Toronto, it seems like everyone and their grandchildren are making 100k+
-1

Only everyone on RFD.
Deal Fanatic
Jul 13, 2012
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Occupied Ottawa
FPrince wrote: I mean, if you are in the top tax bracket (250k+) then sure yeah that's decent but if you live in major cities like Vancouver or Toronto, it seems like everyone and their grandchildren are making 100k+
Well, the obvious answer would be that as a natural course of inflation more people are making 100k than before. 20 years ago, you probably won't make that much unless you were a business executive, in one of the higher paying professions (medicine, law, etc...), a successful small business owner, etc. Nowadays, even mid/higher level managers, mid-level professions (teacher, nurse, etc...), skilled tradesperson, etc.. can make $100,000 a year.
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Mar 9, 2007
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Think of the Childre…
100k is the norm now.

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Deal Addict
Oct 18, 2014
2050 posts
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HK
100k is very attainable for those in professional services at the junior level even. That being said, not many folks can get those roles easily. 100k is no longer rare, 200-250k is the gold standard for employees now to feel like "they made it". Those who make above that tends to be owners, executives, entrepreneurs, sales.

To OP, I guess it depends on your social circle.
Sr. Member
Dec 11, 2013
817 posts
911 upvotes
Toronto
LeisureSuitL wrote: -1

Only everyone on RFD.
This. I will never get why so many embellish in a place where you are anonymous, but they do.

There are many sectors where what was a 100k position, 10 years ago, is now 60k. It's still very possible to make past 100k, but not at the level people on the internets state.
Member
Mar 6, 2015
404 posts
1448 upvotes
New Brunswick
Just some numbers. There are approximately 1.1 million public sector employees (which are typically the better paying jobs) in Ontario and 130,000 people on the sunshine list who make $100,000+. So only 10% of the people in "better" jobs make six figures. And I can guarantee you even in larger markets the sub $100,000 bracket FAR outnumbers the $100,000+ bracket.
Deal Addict
Apr 14, 2017
1967 posts
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DT Calgary
bunmin wrote: Just some numbers. There are approximately 1.1 million public sector employees (which are typically the better paying jobs) in Ontario and 130,000 people on the sunshine list who make $100,000+. So only 10% of the people in "better" jobs make six figures. And I can guarantee you even in larger markets the sub $100,000 bracket FAR outnumbers the $100,000+ bracket.
Finally logic arrives. I’m sure OP is trolling tho.
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Aug 19, 2018
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FreshCo wrote: Finally logic arrives. I’m sure OP is trolling tho.
Or just confirmation bias when he knows a few of them. Or maybe just trying to make himself feel better that he doesn't make $250k when all his friends/co-worker else does. Or a bunch of other things.

Probably trolling without realizing it.
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Aug 31, 2008
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Unionville
FPrince wrote: I mean, if you are in the top tax bracket (250k+) then sure yeah that's decent but if you live in major cities like Vancouver or Toronto, it seems like everyone and their grandchildren are making 100k+
I'll bite. 100k in Toronto and Vancouver is peanuts. A family of 2 making 50k a year is lower-middle class in the city. Making 100k individually? Sure, as a manager or senior role. But just remember for every manager, there's 20+ people making <100k.
Dealhunter
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Nov 14, 2006
3149 posts
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GTA
Cheapo-Findo wrote: 100k is the norm now.
Dynafrom wrote: I'll bite. 100k in Toronto and Vancouver is peanuts. A family of 2 making 50k a year is lower-middle class in the city. Making 100k individually? Sure, as a manager or senior role. But just remember for every manager, there's 20+ people making <100k.
I'm in the trades so yes $100K is the norm even for us once you've you completed your apprenticeship for most of them.
ie. I'm a licensed Commercial/Industrial HVAC/R tech, my take home rate an hour is $49.30 with a total package rate of $64.28 (foreman is a few dollars more an hour)
This is based on our 787 Union rates, many non union companies are pretty close.

I like the trade, finished high school then got right into it and was making great money once I completed my apprenticeship at the age of 24 while all my other friends were in debt and just getting out of university.
Deal Fanatic
Jul 12, 2008
6048 posts
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GTA
bunmin wrote: Just some numbers. There are approximately 1.1 million public sector employees (which are typically the better paying jobs) in Ontario and 130,000 people on the sunshine list who make $100,000+. So only 10% of the people in "better" jobs make six figures. And I can guarantee you even in larger markets the sub $100,000 bracket FAR outnumbers the $100,000+ bracket.
It depends on how you look at the numbers, some hydro companies like OPG/Hydro One have historically had 60 to 70% of their employees on the list. Some professions like teaching, transit operator, nursing and even policing can have you making 100k within 5 to 10 years of starting (so early 30's if you start early).

A lot of them are in/peak in the 100k to 120k level though (heck if the sunshine list was indexed to inflation from beginning the actual no of people on the list would be a lot lower). So 100k might look pretty common depending on what profession you are in. Doctors, Lawyers, Management Consultants and Investment Bankers get to 100k pretty easily as well in the private sector so if you worked in 1 of these areas things might look different to you.
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Oct 26, 2003
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Dynafrom wrote: I'll bite. 100k in Toronto and Vancouver is peanuts. A family of 2 making 50k a year is lower-middle class in the city. Making 100k individually? Sure, as a manager or senior role. But just remember for every manager, there's 20+ people making <100k.
6 figure salary in the title, that means individually

with the way liberal been running the country, i doubt we will see many more private sector 100k+ jobs in the making.
Deal Guru
Dec 20, 2018
10125 posts
10230 upvotes
bunmin wrote: Just some numbers. There are approximately 1.1 million public sector employees (which are typically the better paying jobs) in Ontario and 130,000 people on the sunshine list who make $100,000+. So only 10% of the people in "better" jobs make six figures. And I can guarantee you even in larger markets the sub $100,000 bracket FAR outnumbers the $100,000+ bracket.
Ya but there are so many employed and in many companies (prof services) way more than 10% of employees are above 100k
Deal Expert
Oct 7, 2010
15536 posts
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Shooting for 150k now. Slowly getting there. Only 100k+ for RFD professionals. Nothing for the masses. Average is still 80k family income combined. Minus all the tax cheats, I would stay average desk jobs are like 50k to 60k.
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Oct 7, 2010
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divx wrote: 6 figure salary in the title, that means individually

with the way liberal been running the country, i doubt we will see many more private sector 100k+ jobs in the making.
Businesses are moving away because Canadians are lazy and all about the cottage life. High energy cost. Congestion cost. Housing cost. High taxes. Lots of tax cheats. Lots of illigetimate foreign investments that also tax cheat.

Government tax us to do stupid things with our money like giving money to refugees etc.

No jobs for middle class meanings no spending. Rich class hoard cash and poor class no spending power.
Deal Guru
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Jul 12, 2003
12399 posts
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Toronto
You see more 100k salary compare to maybe 15-20 years ago, but there is still a small portion of population.

When you go out and see all the people working at the Malls, at the restaurants, at the Gas stations. No one is making near 100k even the manager.

From Google Search:
What is a good average salary in Canada?
The average Good salary in Canada is $37,267 per year or $19.11 per hour.

No where near 100k.
Retired Forum Moderator February 2009 - June 2015
Deal Fanatic
Jul 12, 2008
6048 posts
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GTA
holden wrote: https://www12.statcan.gc.ca/census-rece ... hrt-dt-tbl

According to the 2016 Census, a $98,582 salary in Toronto would put you at the 90th percentile. So a "6 fig" salary is still less that 10% of the population.
Some times data like this includes people like students (University and high school students of working age), retirees, stay at home mom/dads, new immigrants or other people who aren’t really working fully in the 90%.

The link clearly says it’s individual income and even that 10% of the Toronto CMA (which seems to mean the GTA would be 600,000 to 700,000 single individuals) once you remove the list of people I mentioned above the proportion looks even higher.
Deal Guru
Dec 20, 2018
10125 posts
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MP3_SKY wrote: You see more 100k salary compare to maybe 15-20 years ago, but there is still a small portion of population.

When you go out and see all the people working at the Malls, at the restaurants, at the Gas stations. No one is making near 100k even the manager.

From Google Search:
What is a good average salary in Canada?
The average Good salary in Canada is $37,267 per year or $19.11 per hour.

No where near 100k.
Median income is above 72k for someone working full-time in Ontario back in 2015 meaning half are above that

https://www12.statcan.gc.ca/census-rece ... 24-eng.cfm

Here is link for median income by sector , so many are above 100k even at median level

https://www12.statcan.gc.ca/census-rece ... &HCDD_ID=7

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