Hello Guys,

Not sure if this is a suitable topic here but since I am assuming that the job market in U.S. differs considerably compared to Canada, I thought it'd be better for me to start this thread under the regional forum.

So here is my situation,

I am a 28 years old single young professional working at one of big 5banks in downtown Toronto. No debt, mortgages, LOC of any sorts and I still live at home (yeah .. laugh me all you want... ).....

I am currently making around CAD$ 68.5K/year before tax (including bonus, incentives, employee shares ownership, overtime pay, and everything else) and I am wondering how much more $$ (or how much more in percentages) is considered to be a good/valid offer for me to switch job. This will take into account the fact that I will have to re-establish my relationships with my collegues, accommodate the new work environment, and the need to re-learn a new set of skills required for the new position.

I am having a great relationship with my co-workers at my job but I am just not sure if what I am doing now is what I wanna do for the next 25 years....

Any advice is appreciated.

 

The difference after taxes between 70k and 90k isnt that much after taxes. Is there room for you to move up at your current job? What are you considering for a switch of profession?

I went from a 50k job to a 100 plus job. I work much harder now but i enjoy it much more as well.

I just think in the end you need to be happy. Only you can answer that question.

 

You're smart... anyone who laughs at you is an idiot. No expenses, clearing over 4 grand a month. Stay at home, keep your job, and have fun!!

 

To get me to move companies but for the same job it took about an extra $24,000/yr in sallery but it also changed from working away from to being at home 90% of the time. That alone was what I wanted but some extra $$$$ made it well worth while. However at the time I left my last job I was next in line to be a field superintendent and possiblely the head of operations. Now I am one of our go to guys in the field but basically I think I have peaked. I won't get any large raises or big promotions from this point on....and I am only 33yrs old and I have been here 5years. Look at that stuff as well the opportunity for advancement is important to some guys.

 

sounds like your job is better than mcdonalds... i am 24 and have been out on my own kinda(gf and I), i used to have a good amount of money in the bank (40g's area) now i don't lol. my advice is save your money and try to pay for a 50% of a house the mortgage the rest!! you can afford it with the money you make!! make the move sooner rather than later.... also think of all the people in canada that are laid off. be happy you have a job some days...

 

That's the real answer, it's a very personal thing and nobody can tell you what to do. At my career stage it's more important for me to do something I like than to make gobs of money. If you can get both, that's great, but I wouldn't necessarily move JUST for the money, with one exception: if I did a job I hated for, say, a year and I would be set up long term, I could suck it up.

 

it matters where you wanna live. when I get out of my law school i'll be making around 100K a year in toronto, or I can push for a new york firm if im luck and make 160K a year. but after you consider that rent in new york is about 3x as much as in toronto, i'll actually have more spending money here than in New York --> it's all relative.

plus you couldnt pay me enough to live in a country that airs fox news and has no public health system

 

Moving for $$$ alone is stupid. Make sure your move makes sense from a career advancement perspective.

That said... always go for more... my last job change got me a 40% bump.

Some tips:
http://shine.yahoo.com/channel/life/...r-hand-464658/