Canadian Economy Slowing
02-14-2014, 07:36 AM
#76
Drifting
To provide a counterpoint to the doom and gloom, I mentor six young'uns that I came across over the years and have helped find jobs.
Two of them I met at DE events so that hobby worked out well for them. Here are their ages, educations and salary (base + bonus). I won't reveal the industry to protect their privacy:
1. 26yo, MBA, $125k
2. 25yo, BComm, $85k
3. 23yo, BComm, $72k
4. 24yo, BArts, $72k
5. 32yo, BSc + accreditation in field, $132k
6. 32yo, MBA, $120k
There's nothing that these folks do that other young people could not replicate with some hard work and a bit of luck. Indeed, I coach them to share their path to success (both personal and professional) with the next gen of young people.
Two of them I met at DE events so that hobby worked out well for them. Here are their ages, educations and salary (base + bonus). I won't reveal the industry to protect their privacy:
1. 26yo, MBA, $125k
2. 25yo, BComm, $85k
3. 23yo, BComm, $72k
4. 24yo, BArts, $72k
5. 32yo, BSc + accreditation in field, $132k
6. 32yo, MBA, $120k
There's nothing that these folks do that other young people could not replicate with some hard work and a bit of luck. Indeed, I coach them to share their path to success (both personal and professional) with the next gen of young people.
02-14-2014, 08:25 AM
#77
Rennlist Member
Heenan Blaikie is the first but there will be more. The traditional partnership model is destined for collapse as the savy legal service consumers start to balk at $500+ per hour.
I know many many companies who offer up a package price they are willing to pay take it or leave it and the work is always snapped up. There are many talented hungry lawyers out there desperate for the work and ready to compete against the big boys. I have heard of some hourly rates approaching over $900 per hour - sorry mr lawyer but you are not a brain surgeon!
I know many many companies who offer up a package price they are willing to pay take it or leave it and the work is always snapped up. There are many talented hungry lawyers out there desperate for the work and ready to compete against the big boys. I have heard of some hourly rates approaching over $900 per hour - sorry mr lawyer but you are not a brain surgeon!
02-14-2014, 08:45 AM
#78
Correct (man do I come across so obvious that I am a bean counter) except for the accounting fee approaching or exceeding what the 'average' Canadian makes. That's not a reality in Canada. Now in the US professional fees much higher (better) there. 
myw - That's a nice collection of cars. I'm guessing you are doing ok. And I do know that the stated median Canadian family income is at around $70k but while I am definitely not even close to being a high income earner or wealthy, I do cater to a bunch of above average income earning Canadians. In fact the majority of my clients are in Palm Springs or Hawaii right now. They enjoy calling me from the golf courses there to inquire as to how the weather is back in Canada. I charge extra for those calls. I know I wont get any sympathy here but it is my opinion that the professional class in Canada is losing ground.
Again sorry I am taking this discussion away from the economic situation of the average Canadian.
myw - That's a nice collection of cars. I'm guessing you are doing ok. And I do know that the stated median Canadian family income is at around $70k but while I am definitely not even close to being a high income earner or wealthy, I do cater to a bunch of above average income earning Canadians. In fact the majority of my clients are in Palm Springs or Hawaii right now. They enjoy calling me from the golf courses there to inquire as to how the weather is back in Canada. I charge extra for those calls. I know I wont get any sympathy here but it is my opinion that the professional class in Canada is losing ground.
Again sorry I am taking this discussion away from the economic situation of the average Canadian.
As a professional, 0.1 percenter I agree with you unequivocally. I make a very good living but earn less than I did in 1997. In my 'hood (Old Oakville) I once felt pretty cocky about my lot in life. Now I just shake my head as many, many homes sell for +$5M. A buddy of mine owns a custom (i.e. not that scaleable) software company and has done so for almost 20 years. He's never made so much as he is now.
10 years ago spotting a Ferrari, Lambo, Maserati, Aston or Bentley was quite rare. Now, on the weekend when the weather is nice you can't drive the 5 or 6 blocks of Lakeshore in downtown Oakville without seeing at least one of these. I will bet dollars to donuts these cars are owned by business owners. The professionals are the ones driving Porsches.
Not complaining. Just agreeing.
02-14-2014, 11:36 AM
#79
Nordschleife Master
my faith in this new generation has been restored 
To provide a counterpoint to the doom and gloom, I mentor six young'uns that I came across over the years and have helped find jobs.
Two of them I met at DE events so that hobby worked out well for them. Here are their ages, educations and salary (base + bonus). I won't reveal the industry to protect their privacy:
1. 26yo, MBA, $125k
2. 25yo, BComm, $85k
3. 23yo, BComm, $72k
4. 24yo, BArts, $72k
5. 32yo, BSc + accreditation in field, $132k
6. 32yo, MBA, $120k
There's nothing that these folks do that other young people could not replicate with some hard work and a bit of luck. Indeed, I coach them to share their path to success (both personal and professional) with the next gen of young people.
Two of them I met at DE events so that hobby worked out well for them. Here are their ages, educations and salary (base + bonus). I won't reveal the industry to protect their privacy:
1. 26yo, MBA, $125k
2. 25yo, BComm, $85k
3. 23yo, BComm, $72k
4. 24yo, BArts, $72k
5. 32yo, BSc + accreditation in field, $132k
6. 32yo, MBA, $120k
There's nothing that these folks do that other young people could not replicate with some hard work and a bit of luck. Indeed, I coach them to share their path to success (both personal and professional) with the next gen of young people.
02-15-2014, 07:01 PM
#80
Burning Brakes
I am living that nightmare now. Just hope your kid doesn't come to you with the I want to attend medical school in the US request. Just my luck the foreign exchange is quickly going the wrong way.
I always max'd out the RESPs but that only lasted to the fourth year.
Sorry off topic again.
I always max'd out the RESPs but that only lasted to the fourth year.
Sorry off topic again.
02-17-2014, 09:10 PM
#81
I know the company I work for is actually hiring. Especially young Engineers fresh off Canadian universities... That's a good sign and as far as I know, smart companies are starting getting higher educated people on board which means we're finally starting to invest in this nation's most invaluable renewable resource: it's intelligence.
I know for sure the sliding Canadian dollar makes my upper management jump for joy. We spend CAD to produce goods we're selling for USD. That's a nice little gain right there. Our local Tier2 suppliers are happy and our customers (which is every car maker in the world) are getting competitive pricing.
Any nation is as good as the goods it invents and it produces and this simple truth seems to slowly replace the outright greed of all the corporations that moved all the good, productive jobs elsewhere.
I believe our road to recovery will be fraught with huge obstacles but eventually we will get there...
Just my 2 Canadian Cents :-)
I know for sure the sliding Canadian dollar makes my upper management jump for joy. We spend CAD to produce goods we're selling for USD. That's a nice little gain right there. Our local Tier2 suppliers are happy and our customers (which is every car maker in the world) are getting competitive pricing.
Any nation is as good as the goods it invents and it produces and this simple truth seems to slowly replace the outright greed of all the corporations that moved all the good, productive jobs elsewhere.
I believe our road to recovery will be fraught with huge obstacles but eventually we will get there...
Just my 2 Canadian Cents :-)
02-18-2014, 12:05 AM
#82
6 examples of guys doing well ! = what its like the for the vast majority of the country.
are those jobs in this country or over in China?(where you can hustle and do well). because if they are here, drop me a line. Vast majority of engineering companies(at least in ontario) its a pure race to the bottom. you can do ok , in time but thats about it. ok. but for the most part wages have stagnated big time and there are just so many low balling companies out there these days. its sad.
The amount of kiddies flooding law school has also been off the charts that it looks like this may be the next professional area to get slapped in the face. Here comes the mediocre pay.
are those jobs in this country or over in China?(where you can hustle and do well). because if they are here, drop me a line. Vast majority of engineering companies(at least in ontario) its a pure race to the bottom. you can do ok , in time but thats about it. ok. but for the most part wages have stagnated big time and there are just so many low balling companies out there these days. its sad.
The amount of kiddies flooding law school has also been off the charts that it looks like this may be the next professional area to get slapped in the face. Here comes the mediocre pay.
Last edited by breakfast; 02-18-2014 at 12:25 AM.
02-18-2014, 12:38 AM
#83
lol 6 examples of ballers ! = what its like the for the vast majority of the country.
are those jobs in this country or over in China?(where you can hustle and do well). because if they are here, drop me a line. Vast majority of engineering companies(at least in ontario) its a pure race to the bottom. you can do ok , in time but thats about it. ok. but for the most part wages have stagnated big time and there are just so many low balling companies out there these days. its sad.
are those jobs in this country or over in China?(where you can hustle and do well). because if they are here, drop me a line. Vast majority of engineering companies(at least in ontario) its a pure race to the bottom. you can do ok , in time but thats about it. ok. but for the most part wages have stagnated big time and there are just so many low balling companies out there these days. its sad.
With the right kind of thinking you can still have a global presence and do well without completely destroying your local manufacturing base. And guess what happens when a good Tier1 does well... it trickles down to all the lower tier suppliers who will also do well and it is your best interest for those suppliers to do well so they can in turn support you.
You might call me naive but it sure felt good at the beginning of 2009 when all OEMs dropped their inventory levels causing a 90 days production stoppage to all their Tier1 suppliers and our company did neither need to fire anyone nor cut our salaries or benefits. Pretty incredible, right?
02-18-2014, 02:47 PM
#85
I thought that would be somewhat obvious. Sure some are still doing ok. Im sure we all know our fair share and may even be one of them.
But to be honest Im a bit nervous as to where this country is headed. It just doesnt look very good.
But to be honest Im a bit nervous as to where this country is headed. It just doesnt look very good.