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Salary Expectations......

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H8CH
Posts: 2709 - Karma: 218

Ok - a lot of these "how much do skiiers earn" thread's etc got me thinking..... oh Jon Olsson earns 100 bajillion a year.....  etc etc etc.

I know the NS Demographic is fairly young, but there are also members who are in college etc - who probably have some kind of idea as to what they want to do for a career etc.

So - what i want to know is, realistically - what do you think a good salary is? or a high salary? What number do you think would be enough for you to live on comfortably etc...or support a family even?..   I'm interested to see the spread here....   obviously someone is going to say millions....   but when talking about earning "lots"... or being a baller, or whatever - give me a number.....    what are your expectations in life in term's of earning money? Put some numbers to this....  also - how important is it to you going forward in life? I know it varies dependant on where you live, but don't get too bogged down in that - i wanrt to know how much future earning potential drive's the decisions you make today.

I have some interesting stat's i'll post up once i see the initial feedback..... 

May 23 2011 2:12PM
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Sno.
Posts: 12155 - Karma: 6,152
zzzskizzzit's a bit more complicated than buying land and hold onto it, if you're going to buy realestate you off too make sure you can hold onto it for more than 10 years. if you did that turn any time perid. Other than the depression you would have made money on it, there's also a fine balance between buying land holding on to it and flipping it for a profit and being too much in debt. Also when you rent out a house major things can go wrong with it and I've seen people drop into the red because they didn't have money set aside to repair it.


well yeah, there's obviously a lot more to it than my post. The gist is that done right, real estate can be a great investment.

I'm on track to own my current home outright by 35-36, with no mortgage.
Jul 25 2014 10:08PM
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Rusticles
Posts: 2180 - Karma: 1,337
snobunnywell yeah, there's obviously a lot more to it than my post. The gist is that done right, real estate can be a great investment.

I'm on track to own my current home outright by 35-36, with no mortgage.


Exactly, historically real estate never goes down for long, If done right it can be a great long term investment
Jul 25 2014 10:21PM
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Campeador
Posts: 7516 - Karma: -1,227
louie.miragsI feel ya 100%... It is just how much can I realistically save if I am also paying rent? I would rather be putting that money towards a house. Yeah, you lose the interest. But, you also lose the money you're giving to a landlord for rent. How long do I have to wait until I have my own property and do what I want with it? I want to be able to make a garden, have chickens, have get a together where friends can set up tents, bonfires and list goes on. How many places can you rent for a decent price where you can do all of that?



I see where you're coming from. For me personally, as long as I have a decent place, the other stuff doesn't matter as much. But in terms of rent, you'd be surprised at the great places you can find as long as you're not in an ultra high-demand market.

And the person saying she covers her mortgage off one tenant... Unless it's a small mortgage that poor tenant is getting ripped off.
Jul 26 2014 1:57AM
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Sno.
Posts: 12155 - Karma: 6,152
BandoleroI see where you're coming from. For me personally, as long as I have a decent place, the other stuff doesn't matter as much. But in terms of rent, you'd be surprised at the great places you can find as long as you're not in an ultra high-demand market.

And the person saying she covers her mortgage off one tenant... Unless it's a small mortgage that poor tenant is getting ripped off.


or maybe you buy a rental property in a place that has high rental income? IE: downtown Bellevue, WA...which is where my condo is...
Jul 26 2014 5:54AM
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Campeador
Posts: 7516 - Karma: -1,227
snobunnyor maybe you buy a rental property in a place that has high rental income? IE: downtown Bellevue, WA...which is where my condo is...


I don't want to accuse you of being dishonest, but based on the information I was able to gather that does not seem entirely accurate. The average rent for a bedroom in a shared unit for downtown and nearby looks to be in the $500-$800 range. Now judging from mortgage rates given from each property quoted by Chase, the cheapest 2 bedroom condo I could find (not downtown) was 198,000, would mean just under a grand in monthly mortgage payments at minimum.

Given that information its hard to believe that the tenant's rent is able to actually generate money equal to or above the actual mortgage. And if it does, then it wouldn't appear that the tenant is getting a great deal. But if the mortgage loan is actually a smaller amount, this seems plausible.

Plus, if one rents out an extra room to pay the mortgage there's always the unknown factor of getting a shitty tenant (you've been lucky), which aren't that easy to get rid of depending on the lease agreement.

Anyway, I don't want this thread to get sidetracked with mortgages. Like I said, it's a decision that has to be considered very carefully.
Jul 28 2014 11:21PM
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cornholio
Posts: 3952 - Karma: 3,057
BandoleroI don't want to accuse you of being dishonest, but based on the information I was able to gather that does not seem entirely accurate. The average rent for a bedroom in a shared unit for downtown and nearby looks to be in the $500-$800 range. Now judging from mortgage rates given from each property quoted by Chase, the cheapest 2 bedroom condo I could find (not downtown) was 198,000, would mean just under a grand in monthly mortgage payments at minimum.

Given that information its hard to believe that the tenant's rent is able to actually generate money equal to or above the actual mortgage. And if it does, then it wouldn't appear that the tenant is getting a great deal. But if the mortgage loan is actually a smaller amount, this seems plausible.

Plus, if one rents out an extra room to pay the mortgage there's always the unknown factor of getting a shitty tenant (you've been lucky), which aren't that easy to get rid of depending on the lease agreement.

Anyway, I don't want this thread to get sidetracked with mortgages. Like I said, it's a decision that has to be considered very carefully.


if the average rent per bedroom is $500-$800 you should be able to rent a 2 bedroom out for $1000-$1600, why would that not cover a mortgage payment less than $1000?
Jul 29 2014 12:29AM
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JGWI
Posts: 2842 - Karma: 7,812
At the moment I am in nursing school and hope to go into pediatric Critical Care so for me I am thinking ill average around 68,000 to 75,000 on a 72 hour biweekly pay period. But that is really dependent on the location. If I could get a job in say Salt Lake City or Tahoe I would gladly take the pay cut for the location but jobs like that that are not in larger cites would limit my earning potential. I honestly have been raised in a rather frugal family so I don't need tons of money and even if I made it I would probably end up with a lot of it in the bank for later in life. To live comfortably in what I envision to be my future I would say around 60,000 would be sufficient.

I know a lot of people that went into a field simply for the money. Yeah sure it is great to make 150,000. But if you hate your job and have no time to spend it what is the point? I went into nursing for the fact that I can get a job anywhere I want, only work 3 days a week (Ski the other 4), and I bring home a decent check.
Jul 29 2014 12:44AM
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Sno.
Posts: 12155 - Karma: 6,152
BandoleroI don't want to accuse you of being dishonest, but based on the information I was able to gather that does not seem entirely accurate. The average rent for a bedroom in a shared unit for downtown and nearby looks to be in the $500-$800 range. Now judging from mortgage rates given from each property quoted by Chase, the cheapest 2 bedroom condo I could find (not downtown) was 198,000, would mean just under a grand in monthly mortgage payments at minimum.

Given that information its hard to believe that the tenant's rent is able to actually generate money equal to or above the actual mortgage. And if it does, then it wouldn't appear that the tenant is getting a great deal. But if the mortgage loan is actually a smaller amount, this seems plausible.

Plus, if one rents out an extra room to pay the mortgage there's always the unknown factor of getting a shitty tenant (you've been lucky), which aren't that easy to get rid of depending on the lease agreement.

Anyway, I don't want this thread to get sidetracked with mortgages. Like I said, it's a decision that has to be considered very carefully.


I have no reason to be dishonest. She isn't getting ripped off, either. My condo is actually in an older building so it rents for less than quite a few around here. The value of the condo itself is around 250k, whereas 1 bedroom units downtown can go for upwards of a million. I have a one bedroom condo. It rents for 1450.00. I don't know what you were looking at, but I certainly wasn't talking about 1 bedroom in a shared unit. The condo is a one bedroom, but even if it were a 2 bedroom, I wouldn't rent it to 2 separate tenants. Also, you say downtown and nearby-- there is a big difference between downtown, and what is considered "nearby" in this area.

I actually listed it for 1550, but negotiated for a single tenant with auto-pay rent.

Jul 29 2014 1:07AM
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Sno.
Posts: 12155 - Karma: 6,152
here's an idea of a modern 1 bedroom rental in Bellevue-- like I said, though, mine is in an older building so rents for less.

http://seattle.craigslist.org/est/apa/4572718952.html
Jul 29 2014 1:19AM
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Sno.
Posts: 12155 - Karma: 6,152
BandoleroI don't want to accuse you of being dishonest, but based on the information I was able to gather that does not seem entirely accurate. The average rent for a bedroom in a shared unit for downtown and nearby looks to be in the $500-$800 range. Now judging from mortgage rates given from each property quoted by Chase, the cheapest 2 bedroom condo I could find (not downtown) was 198,000, would mean just under a grand in monthly mortgage payments at minimum.

Given that information its hard to believe that the tenant's rent is able to actually generate money equal to or above the actual mortgage. And if it does, then it wouldn't appear that the tenant is getting a great deal. But if the mortgage loan is actually a smaller amount, this seems plausible.

Plus, if one rents out an extra room to pay the mortgage there's always the unknown factor of getting a shitty tenant (you've been lucky), which aren't that easy to get rid of depending on the lease agreement.

Anyway, I don't want this thread to get sidetracked with mortgages. Like I said, it's a decision that has to be considered very carefully.


triple post! I think this was all just a misunderstanding. In reading your post again-- it looks like you think I was talking about renting out a single bedroom in my own home/condo and having it cover the mortgage. This is not the case-- I do not live there--the tenant is renting the entire condo, not just a room.
Jul 29 2014 1:28AM
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shocker611
Posts: 2599 - Karma: 423
snobunnytriple post! I think this was all just a misunderstanding. In reading your post again-- it looks like you think I was talking about renting out a single bedroom in my own home/condo and having it cover the mortgage. This is not the case-- I do not live there--the tenant is renting the entire condo, not just a room.


Damn that is absurd how much those apartments are. You could get an insanely nice place in salt lake for that price.
Jul 29 2014 1:42AM
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californiagrown
Posts: 9794 - Karma: 2,014
shocker611Damn that is absurd how much those apartments are. You could get an insanely nice place in salt lake for that price.


come see what SF is like haha. its worse than manhattan. My rent should be a mortgage on a damn nice house.

thats one of the reasons im trying to move to PDX or Seattle. so much cheaper.
Jul 29 2014 1:56AM
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Campeador
Posts: 7516 - Karma: -1,227
snobunnytriple post! I think this was all just a misunderstanding. In reading your post again-- it looks like you think I was talking about renting out a single bedroom in my own home/condo and having it cover the mortgage. This is not the case-- I do not live there--the tenant is renting the entire condo, not just a room.


I apologize, I completely misunderstood. In your case I think you've made a great decision. I thought you were making a case for renting out an extra bedroom in your own condo to cover the entire mortgage, which I found hard to believe.
Jul 30 2014 2:30AM
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californiagrown
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BandoleroI apologize, I completely misunderstood. In your case I think you've made a great decision. I thought you were making a case for renting out an extra bedroom in your own condo to cover the entire mortgage, which I found hard to believe.


My cousin is an actress based out of NYC and has lived in the same 3bdrm rent controlled apartment for the past 10+ years. She is the name on the lease and subleases the other rooms to folks for close to market value. Just one of those rooms covers her rent and then some. She has a damn good thing going.

Similarly, my parents bought our house in 1979 and it has increased in value a couple thousand percent since then. When they move up to Oregon and start renting the place out, just one of the rooms would cover their mortgage haha...not a bad retirement income at all.
Jul 30 2014 8:29AM
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KravtZ
Posts: 6637 - Karma: 2,629
californiagrownMy cousin is an actress based out of NYC and has lived in the same 3bdrm rent controlled apartment for the past 10+ years. She is the name on the lease and subleases the other rooms to folks for close to market value. Just one of those rooms covers her rent and then some. She has a damn good thing going.

Similarly, my parents bought our house in 1979 and it has increased in value a couple thousand percent since then. When they move up to Oregon and start renting the place out, just one of the rooms would cover their mortgage haha...not a bad retirement income at all.


Wow thats amazing. I live in NYC in rent controlled place as well..can't see how she pulls off the sublet if she doesn't own it though but if the owner is happy all good. But respect...NYC rents are fucking stupid. Sounds like your sister is doing it right. I know for the superbowl last year some friends and I tried to sublet our places to tourists and our landlord said we couldnt.
Jul 30 2014 10:43AM
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lIllI
Posts: 1255 - Karma: 1,986
shocker611Damn that is absurd how much those apartments are. You could get an insanely nice place in salt lake for that price.


But then you're stuck living in Salt Lake...
Aug 3 2014 1:29PM
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Bodhisattva_
Posts: 5749 - Karma: 2,009
shocker611Damn that is absurd how much those apartments are. You could get an insanely nice place in salt lake for that price.


That's because Bellevue > SLC and you have Mormons instead of tech savvy millionaires.
Aug 3 2014 8:10PM
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Campeador
Posts: 7516 - Karma: -1,227
Thizzle.That's because Bellevue > SLC and you have Mormons instead of tech savvy millionaires.


Hahaha nothing worse then tech savvy (aspiring) millionaires, in comparison Mormons sound pretty good.
Aug 3 2014 11:44PM
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Bodhisattva_
Posts: 5749 - Karma: 2,009
BandoleroHahaha nothing worse then tech savvy (aspiring) millionaires, in comparison Mormons sound pretty good.


Very true. I'd take a Mormon as a neighbor vs the many douchenozzles in Bellevue any day.
Aug 4 2014 12:47AM
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Sno.
Posts: 12155 - Karma: 6,152
Thizzle.Very true. I'd take a Mormon as a neighbor vs the many douchenozzles in Bellevue any day.


lies!
Aug 4 2014 12:48AM
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lIllI
Posts: 1255 - Karma: 1,986
Thizzle.That's because Bellevue > SLC and you have Mormons instead of tech savvy millionaires.


The only thing I hate more than cocky douchebags are religious douchebags who pretend to be nice.
Aug 4 2014 10:49AM
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Skittle.
Posts: 2537 - Karma: 718
mormons are great neighbors to have....

that being said, I do freelance vinyl wrapping, and I'm making somewhere around $75k a year, working 3-7 days a week, living at parents house, a year out of high school, with plans to start college soon for i donna what degree. all i know is that i don't wanna be living like this with the whole i don't know if i have work the next day til I'm called in life. expecting something above 100k after school, or else ill just keep wrapping.

this wrapping
Aug 4 2014 12:28PM
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louie.mirags
Posts: 6015 - Karma: 5,029
Skittle.mormons are great neighbors to have....

that being said, I do freelance vinyl wrapping, and I'm making somewhere around $75k a year, working 3-7 days a week, living at parents house, a year out of high school, with plans to start college soon for i donna what degree. all i know is that i don't wanna be living like this with the whole i don't know if i have work the next day til I'm called in life. expecting something above 100k after school, or else ill just keep wrapping.

this wrapping


Dude... $75k a year out of high school is way more then anybody can bargain for. Expecting to make $100k out of college is a stretch. What would you major in? I wouldn't even expect to make $75k out of college except for a few majors, even then they generally require more than a undegrad degree. So, if money is top priority I would recommend going to school part time and take the work when you can get it. Does suck not knowing when or if you're going to get called but $75k is a great wage. I make $45k a year and it is a huge relief because 4 months ago I was worried where I would work after school.
Aug 4 2014 12:53PM
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joshua
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Can anybody with a degree in Forestry or Natural Resource Science comment on how their careers are going? Preferably a Canadian perspective.
Aug 4 2014 9:27PM
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Sno.
Posts: 12155 - Karma: 6,152
joshuaCan anybody with a degree in Forestry or Natural Resource Science comment on how their careers are going? Preferably a Canadian perspective.


not a canadian but my dad is a forestry and natural resource major and he is the Natural Resource Manager for the City of Bellevue, WA.
Aug 4 2014 10:43PM
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2_fadez
Posts: 7780 - Karma: 4,184
joshuaCan anybody with a degree in Forestry or Natural Resource Science comment on how their careers are going? Preferably a Canadian perspective.


well, lots of trees in canada, so theres that
Aug 18 2014 5:07PM
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