Speak it Out

[Gerbs]

Originally Posted by ilovebacon

^ you guys are making 80k right out of school...? I am still maintaining a part-time position while trying to get my first foot through that door after two years..

I started working in the accounting industry after I completed my diploma at the end of year 2, at this time I was also taking 3 - 4 courses for my degree. That way I can graduate with 2 - 3 years of experience and start my CPA. I also did my CFA lvl 1 along the way.

I think transparency on salaries is becoming less taboo with the millennial generation which is also important since it'll help everyone else negotiate salary in future positions. Here's my progression over the last 2.5 years of school while working in entry-level jr.accountant positions which is nowhere near the 60-80k+ grads you hear about.

2nd Year - Job 1 $33.5k+Benefits

3rd Year - Job 2 $15/hr no benefits, start-up accountant role, so spend a lot of time being paid to play ping pong and foosball
3rd Year - Job 2 - Raise - $18/hr
3rd Year - Job 2 - Raise - $40k + Benefits - Start-up got bought out
4th Year - Job 2 - Raise - $43k + benefits

4th Year - Job 3 - Raise - $50k no benefits yet, but I can work from home and paid breaks. So that's an extra 2 hours each day towards a better work-life balance. I'll be graduating this semester as well.

It's funny because I remember being super motivated when I was in school on how I'd make $60 - 100k within 3 -4 years of graduating. But realistically that's not the case if you aren't graduating from a recognized business school or in doctor/lawyer/tech/engineer/sales as mentioned above. I think realistically you'll make $33-55k starting in most fields.

I plan on completing my CPA in the next 2 years and start job hunting for something around $80 - 90k. I hope to hit 100k+ before I am 30.

https://www.bccpa.ca/news-events-pub...ary-survey-en/

[Gerbs]

Originally Posted by Fafine

i dont think tiger is wrong, 50k isnt hard to attain. Just sign up at coast mountain or translink they start around 20$ an hour.

Bus drivers for translink starts at 24bucks an hour

It's all about what you want to do with your life and what you studied/ spent time on.
If you were a receptionist for 4 years during university studying arts, can easily land a federal admin assistant job and make 50k a year.

Feels bad making less than those assistants. But at the end of the day, those jobs cap out at $50k a year with little to no room for growth in skills or salary advancement. Which is why I think $20-25/hour is a reasonable salary for those jobs.

Originally Posted by SpeedStars

How much would you guys have to make to classify as "good" money in Vancouver?

I think "good" money depends on how fortunate you are in this city. If you're someone who's able to live at home then you're already saving roughly $24,000 after-taxes a year in rent if you were to move into a 1br condo. Which would make a $40 - 70,000 salary pretty comfortable. Your expenses are going to be super low so you'll hopefully have a high savings rate as well.$

In another scenario, you could be someone who has moved here from interior B.C. for school and there aren't any good job opportunities in your small town. Then you'll likely need a salary of $80 - 120k a year to comfortably afford rent, save for a$downpayment, save for a future kid, entertainment.$

[Euro7r]

Originally Posted by Gerbs

I started working in the accounting industry after I completed my diploma at the end of year 2, at this time I was also taking 3 - 4 courses for my degree. That way I can graduate with 2 - 3 years of experience and start my CPA. I also did my CFA lvl 1 along the way.

I think transparency on salaries is becoming less taboo with the millennial generation which is also important since it'll help everyone else negotiate salary in future positions. Here's my progression over the last 2.5 years of school while working in entry-level jr.accountant positions which is nowhere near the 60-80k+ grads you hear about.

2nd Year - Job 1 $33.5k+Benefits

3rd Year - Job 2 $15/hr no benefits, start-up accountant role, so spend a lot of time being paid to play ping pong and foosball
3rd Year - Job 2 - Raise - $18/hr
3rd Year - Job 2 - Raise - $40k + Benefits - Start-up got bought out
4th Year - Job 2 - Raise - $43k + benefits

4th Year - Job 3 - Raise - $50k no benefits yet, but I can work from home and paid breaks. So that's an extra 2 hours each day towards a better work-life balance. I'll be graduating this semester as well.

It's funny because I remember being super motivated when I was in school on how I'd make $60 - 100k within 3 -4 years of graduating. But realistically that's not the case if you aren't graduating from a recognized business school or in doctor/lawyer/tech/engineer/sales as mentioned above. I think realistically you'll make $33-55k starting in most fields.

I plan on completing my CPA in the next 2 years and start job hunting for something around $80 - 90k. I hope to hit 100k+ before I am 30.

https://www.bccpa.ca/news-events-pub...ary-survey-en/

Those CPA publications are skewed and unrealistic. E.g. $71,000 for < 3 years experience in that bar chart. Also it's vague as it just says by CPA experience, so it is saying designated or non-designated. Someone with less than 3 years of experience non designated making $71,000 is pretty slim. Accounting is an oversaturated market, it's just how they market it now trying to lure people to do CPA, whether you pass or fail, they are still raking in the annual fees, course fees, membership fees etc.

[6793026]

Originally Posted by Gerbs

I plan on completing my CPA in the next 2 years and start job hunting for something around $80 - 90k. I hope to hit 100k+ before I am 30.

Props to you. You're putting time and effort to get the CGA, that's hard work and well rewarded. As to 100k when you hit 30, that's cool. What's next when you hit 40? 50? 60? I think after a while, once you hit the 100k, it stays flat.

Lastly, CPA field is crazy and the # of people who gets all these designations. I'm alwyas blown away on the graduates EACH yr.

Originally Posted by Euro7r

Accounting is an oversaturated market, it's just how they market it now trying to lure people to do CPA, whether you pass or fail, they are still raking in the annual fees, course fees, membership fees etc.

Couldn't agree more, no idea why but same for pharmacists, they churn out TONS each yr.

[Euro7r]

Originally Posted by 6793026

Props to you. You're putting time and effort to get the CGA, that's hard work and well rewarded. As to 100k when you hit 30, that's cool. What's next when you hit 40? 50? 60? I think after a while, once you hit the 100k, it stays flat.

Lastly, CPA field is crazy and the # of people who gets all these designations. I'm alwyas blown away on the graduates EACH yr.


Couldn't agree more, no idea why but same for pharmacists, they churn out TONS each yr.

Hundreds get designated each year, how many fucking senior level jobs could possibly be out there locally...

[SpeedStars]

Originally Posted by ilovebacon

^ you guys are making 80k right out of school...? I am still maintaining a part-time position while trying to get my first foot through that door after two years..

iunno whos making 80k right out of school, but if there's a course that gets you 80k when you grad you can sign me up! I think a lot of people still expect to earn 80k out the door when they graduate UBC/SFU/etc though.

6793026 hit it on the head with the evaluations in Vancouver. But there are a few other trade oriented jobs that could net you 100k as long as you don't mind not having a work/life balance. IE: Cement truck drivers hit 100k easily due to having lots of OT.

I've hit 60+ this year but don't feel any "richer" than when I made 25k it also definitely feels like its not enough to live in Vancouver on my own.

[BIC_BAWS]

I mean anything is possible, I have a client who brings in 1Mil income/yr. He's a RMT and has been doing it for about 5 years. But he also works from like 7am to 1am everyday.

[Euro7r]

Originally Posted by SpeedStars

iunno whos making 80k right out of school, but if there's a course that gets you 80k when you grad you can sign me up! I think a lot of people still expect to earn 80k out the door when they graduate UBC/SFU/etc though.

6793026 hit it on the head with the evaluations in Vancouver. But there are a few other trade oriented jobs that could net you 100k as long as you don't mind not having a work/life balance. IE: Cement truck drivers hit 100k easily due to having lots of OT.

I've hit 60+ this year but don't feel any "richer" than when I made 25k it also definitely feels like its not enough to live in Vancouver on my own.

I don't think the original comment meant $80k out of school, but in general making $80k (if that's what I interpreted from referring back to the comment on the page before, correct me if I'm wrong).

A lot of people expect things or feel entitled because they feel they earned it. Example, graduate from UBC/SFU (university degree), should be getting $30/hr+ right off the bat. I've worked with many that feel once they earned a couple years of working experience, they should be promoted to senior.

[BIC_BAWS]

Originally Posted by Euro7r

I don't think the original comment meant $80k out of school, but in general making $80k (if that's what I interpreted from referring back to the comment on the page before, correct me if I'm wrong).



A lot of people expect things or feel entitled because they feel they earned it. Example, graduate from UBC/SFU (university degree), should be getting $30/hr+ right off the bat. I've worked with many that feel once they earned a couple years of working experience, they should be promoted to senior.

You are correct. My original comment meant in general, I think 80K is pretty good. You can live a pretty comfortable life on 80K, and if you know how to save, even a place for yourself (or more fun car guy things).

I've hired several UBC/SFU grads. They don't know shit. It's really fucking annoying, having to deal with the entitlement, when they don't know how to do anything.

Lately, I'm finding that UBC students, that are late millennials or Gen Z, are very easily offended. This includes taking feedback from employers or co-workers on how to complete a task. Even from a peer to peer standpoint, ugh, UBC students.

Sent from my Pixel XL using Tapatalk

[Euro7r]

Originally Posted by BIC_BAWS

You are correct. My original comment meant in general, I think 80K is pretty good. You can live a pretty comfortable life on 80K, and if you know how to save, even a place for yourself (or more fun car guy things).

I've hired several UBC/SFU grads. They don't know shit. It's really fucking annoying, having to deal with the entitlement, when they don't know how to do anything.

Lately, I'm finding that UBC students, that are late millennials or Gen Z, are very easily offended. This includes taking feedback from employers or co-workers on how to complete a task. Even from a peer to peer standpoint, ugh, UBC students.

Sent from my Pixel XL using Tapatalk

Agreed $80K isn't by all means "good money especially Vancouver cost of living", but it's good such that if you have good spending/saving habits, $80k on single income is livable if you can control your spending, which comes down to lifestyle.

Well you know, those UBC/SFU grads they want your job, like manager/VP in 5 years. Waiting/work ground up, that's so 1980s right? LMAO LOL.

[tiger_handheld]

Originally Posted by Gerbs

I started working in the accounting industry after I completed my diploma at the end of year 2, at this time I was also taking 3 - 4 courses for my degree. That way I can graduate with 2 - 3 years of experience and start my CPA. I also did my CFA lvl 1 along the way.

I think transparency on salaries is becoming less taboo with the millennial generation which is also important since it'll help everyone else negotiate salary in future positions. Here's my progression over the last 2.5 years of school while working in entry-level jr.accountant positions which is nowhere near the 60-80k+ grads you hear about.

2nd Year - Job 1 $33.5k+Benefits

3rd Year - Job 2 $15/hr no benefits, start-up accountant role, so spend a lot of time being paid to play ping pong and foosball
3rd Year - Job 2 - Raise - $18/hr
3rd Year - Job 2 - Raise - $40k + Benefits - Start-up got bought out
4th Year - Job 2 - Raise - $43k + benefits

4th Year - Job 3 - Raise - $50k no benefits yet, but I can work from home and paid breaks. So that's an extra 2 hours each day towards a better work-life balance. I'll be graduating this semester as well.

It's funny because I remember being super motivated when I was in school on how I'd make $60 - 100k within 3 -4 years of graduating. But realistically that's not the case if you aren't graduating from a recognized business school or in doctor/lawyer/tech/engineer/sales as mentioned above. I think realistically you'll make $33-55k starting in most fields.

I plan on completing my CPA in the next 2 years and start job hunting for something around $80 - 90k. I hope to hit 100k+ before I am 30.

https://www.bccpa.ca/news-events-pub...ary-survey-en/

wow ... and to think a Skytrain Station Attendant makes $33.03 starting/hr including a pension plan and crazy benefits. They are the guys that you see hanging out at the stations. All you need is a highschool diploma.

CPA is way over saturated and candidates coming out don't have the broad knowledge level that the legacy programs once did. I guess this is to be expected when you have a national pass rate of 70%+

[Gerbs]

Originally Posted by SpeedStars

iunno whos making 80k right out of school, but if there's a course that gets you 80k when you grad you can sign me up! I think a lot of people still expect to earn 80k out the door when they graduate UBC/SFU/etc though.

6793026 hit it on the head with the evaluations in Vancouver. But there are a few other trade oriented jobs that could net you 100k as long as you don't mind not having a work/life balance. IE: Cement truck drivers hit 100k easily due to having lots of OT.

I've hit 60+ this year but don't feel any "richer" than when I made 25k it also definitely feels like its not enough to live in Vancouver on my own.

My RMT made about $80k in his first year of RMT. He was pretty booked for a first year. Now he's almost always fully booked for 1 - 2 weeks after building a client base over the last 2 years. He said it was like a 2-3 year program so he got out when he was like 19 - 20

[instantneedles]

Originally Posted by BIC_BAWS

I mean anything is possible, I have a client who brings in 1Mil income/yr. He's a RMT and has been doing it for about 5 years. But he also works from like 7am to 1am everyday.

Is that after taxes or before? Sometimes I wonder if it’s worth it to work so hard only to get taxed a shitload. Unless he has a smart accountant like yourself to tax deduct for him he’s pretty much getting robbed.

A buddy of mine, who is a physio/chiro pulled 200 his first year coming out working, but the amount that actually went into his pocket was significantly less.

[Gerbs]

He probably pocketed around 525-600k/year. Not to mention being able to spend some pre-tax income on food/cars/entertainment/gas as *business expense*.

[Jmac]

Originally Posted by BIC_BAWS

I mean anything is possible, I have a client who brings in 1Mil income/yr. He's a RMT and has been doing it for about 5 years. But he also works from like 7am to 1am everyday.

Even at $150/hour, he's still coming up short of $1M/year working 18 hours/day, 365 days a year ... Seems exaggerated.

[instantneedles]

Originally Posted by Jmac

Even at $150/hour, he's still coming up short of $1M/year working 18 hours/day, 365 days a year ... Seems exaggerated.

If you own a clinic and take a fee split with your contractors, who also have full case loads, then your salary multiplies.

It's very possible, but now with more contractors and a facility to manage, that's a helluva lot more work.

I'm going back to my point about it being worth it or not. If you're grinding that hard and end up having half your annual salary cut, is it worth grinding that hard?

[BIC_BAWS]

Originally Posted by Jmac

Even at $150/hour, he's still coming up short of $1M/year working 18 hours/day, 365 days a year ... Seems exaggerated.

LOL you want me to pull up CRA remittance reports, T2 Corp, maybe a P&L?

I won't do that. But take it however you want.

Sent from my Pixel XL using Tapatalk

[Gerbs]

Originally Posted by instantneedles

I'm going back to my point about it being worth it or not. If you're grinding that hard and end up having half your annual salary cut, is it worth grinding that hard?

I'd have to make that million before I can decide whether the grind was worth it haha. But if you handle it for 4 - 6 years. you can easily retire early though.

[Euro7r]

Originally Posted by Gerbs

I'd have to make that million before I can decide whether the grind was worth it haha. But if you handle it for 4 - 6 years. you can easily retire early though.

It's funny how people are willing to work 30 years at a 9-5 job but have second thoughts working say long hours for say 5-10 years earning way more where they can retire way earlier.

Say you bust your ass off from age 25 - 35 (work day and night and no life). Can do whatever from age 36 onwards when you are financially set. Sure you do miss some of the fun times when your younger, but 36 still is young nowadays...

I guess each to their own haha

[6793026]

It's funny when everyone says ".. just work 5-10 yrs and retire".... like that will ever happen. It just means you'll be buying a bigger house, more toys and nicer cars. Have yet met someone who's ... BAM, I've hit 55, I'm going retire. ahahahha

[AstulzerRZD]

Originally Posted by Euro7r

Say you bust your ass off from age 25 - 35 (work day and night and no life).

Maybe I can comment on this a little bit - I've been busting my ass for the last 6 years (had to move every 4 months.... it was 4 months of school with very competitive vibes + non-stop interviews followed by 4 months of work in a new city/role/company).

I'm pretty lucky to be in the position that I am today.. but I think the hardest part isn't giving up on social life, hobbies, etc.

I think the hardest part is when you're at the end of it and you're in a unique position.... but it's hard to find people who can understand and where the both of you can relate whether that's for a friendship or a relationship.

[tiger_handheld]

can we get this thread back on topic - so whos got women problems?

[Traum]

That career stuff would still have a lot to tie into women and relationship problems. For someone busting their a$$ that hard, you won't even have time to develop any sort of meaningful romantic relationships. Flings, hook ups, FWB, maybe. But meaningful relationships? That'd be super hard.

Of course, each person is different, and I have mad respect for those who are making it work. I tried it for like 8 months in my late 20's, and I had almost gone crazy from it. I felt more like a cog than a person, and I couldn't stand that.

[Euro7r]

Originally Posted by Traum

That career stuff would still have a lot to tie into women and relationship problems. For someone busting their a$$ that hard, you won't even have time to develop any sort of meaningful romantic relationships. Flings, hook ups, FWB, maybe. But meaningful relationships? That'd be super hard.

Of course, each person is different, and I have mad respect for those who are making it work. I tried it for like 8 months in my late 20's, and I had almost gone crazy from it. I felt more like a cog than a person, and I couldn't stand that.

As much as I hated school days, miss meeting new people every semester and making new female friends. Now when I am done school, practically so hard meeting female friends, everyday just work and go home. Single 4ever

[Gerbs]

Originally Posted by Euro7r

It's funny how people are willing to work 30 years at a 9-5 job but have second thoughts working say long hours for say 5-10 years earning way more where they can retire way earlier.

Say you bust your ass off from age 25 - 35 (work day and night and no life). Can do whatever from age 36 onwards when you are financially set. Sure you do miss some of the fun times when your younger, but 36 still is young nowadays...

I guess each to their own haha

I'm on team earn money now, save it, invest it and retire early. I think you can still have some sort of life working long hours if you work smart.