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'Decent' salary in Vancouver??

'Decent' salary in Vancouver??

Old Aug 2nd 2012, 7:48 pm
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by Kiwilass
However, Oceania and the rest of the Americas is much closer!
True. But I like asia.
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Old Aug 2nd 2012, 7:52 pm
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by Alan2005
True. But I like asia.
Yes, and we like the Americas.
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Old Aug 2nd 2012, 8:03 pm
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Default Re: 'Decent' salary in Vancouver??

East Asia seems closer to Vancouver than the UK. Under 10 hours to Tokyo from YVR vs 12 hours from LHR.
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Old Aug 2nd 2012, 8:25 pm
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by JonboyE
East Asia seems closer to Vancouver than the UK. Under 10 hours to Tokyo from YVR vs 12 hours from LHR.
True. I flew from Kyoto to LHR via Helsinki with finn air once; that do this day remains my worst ever flying experience. That's saying something given that I've flown china airlines... <shudder>
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Old Aug 2nd 2012, 8:26 pm
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Default Re: 'Decent' salary in Vancouver??

I have to laugh at the $200-250k figures being thrown around as a 'decent' income!

Alan2005 and El_Rich, tell me where i'm going wrong with this monthly estimate (assuming you buy your vehicle in cash or don't own a vehicle)

Rent: $2300 (should get a nice apartment in Lonsdale)
Food: $600-800 (should cover some nice cheese and wine in there)
Clothing: $1000
Eating out: $600
Entertainment: $600
Car insurance: $150
Commuting/gas: $400
Contents cover: $50
Hydro: $25
Gym: $100
Phone: $150
Cable/net: $100
Tennis: $200
2 Long haul holidays: $15,000 a year
3 long weekends: $6,000 a year


Grand total = $100k (rounding up)

Pre tax income of $160k would net around $115,000, so there's a $15,000 comfort zone there for other expenses.

I'm sure there's a few items i've forgotten that could eat into the $15,000, but overall I'd say this is living a pretty damn comfortably, with tons of room to trim certain areas (main ones being rent and clothing budget, depending on how you like to live, and of course you could trim that vacation budget...).

So i'd say you could live well on $130k, live well with plenty of scope to save a reasonable chunk on $150k and live just fine on a good whack less!
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Old Aug 2nd 2012, 8:44 pm
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by Alan2005
You don't need one in the city. You need one to get out of it. Do you want to go skiing in whistler?
There are buses to Whistler.

Unless you do that sort of thing EVERY weekend, you're probably better off with renting a car when you need one.
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Old Aug 2nd 2012, 8:54 pm
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by Eager2bBC
I have to laugh at the $200-250k figures being thrown around as a 'decent' income!

Alan2005 and El_Rich, tell me where i'm going wrong with this monthly estimate (assuming you buy your vehicle in cash or don't own a vehicle)

Rent: $2300 (should get a nice apartment in Lonsdale)
Food: $600-800 (should cover some nice cheese and wine in there)
Clothing: $1000
Eating out: $600
Entertainment: $600
Car insurance: $150
Commuting/gas: $400
Contents cover: $50
Hydro: $25
Gym: $100
Phone: $150
Cable/net: $100
Tennis: $200
2 Long haul holidays: $15,000 a year
3 long weekends: $6,000 a year


Grand total = $100k (rounding up)

Pre tax income of $160k would net around $115,000, so there's a $15,000 comfort zone there for other expenses.

I'm sure there's a few items i've forgotten that could eat into the $15,000, but overall I'd say this is living a pretty damn comfortably, with tons of room to trim certain areas (main ones being rent and clothing budget, depending on how you like to live, and of course you could trim that vacation budget...).

So i'd say you could live well on $130k, live well with plenty of scope to save a reasonable chunk on $150k and live just fine on a good whack less!
There's probably a few deductions you're missing.

I stand by what I said. An aspirational lifestyle like the OP wants is going to cost $200k a year min. I'm sure you can do it for less, but then you would have to budget for it. Maybe it's just me, but from the tone of her posts I get the impression that she's trying quite hard to let us to know that she's not used to doing that and doesn't want to have to.
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Old Aug 2nd 2012, 8:54 pm
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Default Re: 'Decent' salary in Vancouver??

Glassdoor has some information on what kind of salary is on offer for your job & location:

http://www.glassdoor.com/Salaries/index.htm
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Old Aug 2nd 2012, 8:56 pm
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by MrWindUpBird
There are buses to Whistler.

Unless you do that sort of thing EVERY weekend, you're probably better off with renting a car when you need one.
I've used the greyhound to whistler a couple of times. It's a good service, but with a car it's just much easier, particularly if you have your own kit.
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Old Aug 2nd 2012, 9:37 pm
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by Nik G
Just check out the prevailing wage info on workingincanada.gc.ca.

For example I just put in software engineer, Vancouver and it brought me back a median of 36.97 $/hr or $76k.

I used that site to state my preferred wage when applying for a position in Vancouver. I'm now in the process of getting the LMO after signing the offer.

All the talk of $200k is now panicking me though, my wage will not be that high (although significantly higher then it is now or then I would earn in the UK).
Take no notice. They are talking with respect to the lavish travel requirements of the op. 200 k provides a very decent life here. That's about what we earn and we save more than we spend, have a decent house, cars paid off etc. never worry about money.
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Old Aug 2nd 2012, 9:38 pm
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by Kiwilass
I'm not sure why people think you'd need a car. All I know is that we lived without one, successfully, for 8 years and we didn't even live in downtown Vancouver. AND we had a child.
I agree.
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Old Aug 2nd 2012, 9:58 pm
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by Alan2005
True. I flew from Kyoto to LHR via Helsinki with finn air once; that do this day remains my worst ever flying experience. That's saying something given that I've flown china airlines... <shudder>
I've spent quite a few hours in Helsinki Airport too. In the old days, when Soviet air space was closed to most commercial planes it was over the pole via Anchorage. 19 hours in the air to Osaka.
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Old Aug 2nd 2012, 10:22 pm
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by JonboyE
I've spent quite a few hours in Helsinki Airport too. In the old days, when Soviet air space was closed to most commercial planes it was over the pole via Anchorage. 19 hours in the air to Osaka.
19 hours... jeez. If that was anything to do with your missus then I hope she appreciated it.
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Old Aug 3rd 2012, 1:46 am
  #74  
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Default Re: 'Decent' salary in Vancouver??

Originally Posted by Alan2005
There's probably a few deductions you're missing.
The 6-49 retirement plan?

Originally Posted by Alan2005
I stand by what I said. An aspirational lifestyle like the OP wants is going to cost $200k a year min. I'm sure you can do it for less, but then you would have to budget for it. Maybe it's just me, but from the tone of her posts I get the impression that she's trying quite hard to let us to know that she's not used to doing that and doesn't want to have to.
Somewhat agree. We've got by on a joint income of $70k in Vancouver and it's not pretty. You can live well on $130k if you plan right but if you don't want to think about it, $200k will see you live very comfortably.

BUT

If you're saving for a down payment and hoping to avoid CMHC premiums you need to think about how long it will take you to put away about $100k (4 years @ $25k/yr, 10 years @ $10k/yr, etc). That is what was really missing from the budget. Not a problem if you're a lifelong renter or already have a nice wedge behind you but fewer and fewer are in the latter category these days.
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Old Aug 3rd 2012, 2:30 am
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Default Re: 'Decent' salary in Vancouver??

Just to confirm (and sorry to foreign girl if this counts as hijacking the thread) but when everyone says vancouver are we all thinking Downtown Vancouver or (like me) are we thinking Greater Vancouver.

I understand you need a lot of money to live downtown but does that extend to Burnaby, Surrey, Port Moody?

And also I'm not too worried about buying a house in the near future, I am only 3 years out of University.
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