Quote:
Originally Posted by Sylvanfan
Yeah I would agree that the timing thing was there. Lets face it for someone trying to get started today with say that NAIT Petroleum Engineering degree vs someone who started out 10 years ago. The guy starting out 10 years ago gets a job pretty easy, makes a good wage within 2 years, can buy a decent house for $150 grand, has his house increase in value by about 35% in 3 years to the point where he can leverage his equity to buy 2 or 3 more properties with 0-5% down and still rent them out for a positive cash flow. Two years later these properties have gone up in value an additional 50%, as well as his primary residence. So no doubt there were oppurtunities to create a lot of wealth....I don't think that same method is going to work very well in the next 10 years, unless you're buying that property outside of Canada.
The guy graduating today...he'll have to do something different to create that type of wealth for himself.
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Your right there, the new generation out of school now is going to have to find a different way to make more revenue, but it can be done its not hard. You can buy alot of places cheap in the states still. Property management companies can be cheap if you find the right one.
The thing that bothers me about new grads nowadays is that they think the company owes it to them to pay them 70K at a minimum a year. Earn your stripes dude is what I say. Take a beating for a year or two show what you are worth, and if you show your good and willing to learn and take on new challenges you will be rewarded quite quickly in this industry. There are alot of bad people still working in this industry. The industry is always looking for good people.
When I finished school in 2001 I went for an interview and there was a stack of resumes applying for one job and the employer said he had to throw out alot of other useless ones. Needless to say I undercutt the competition and took the job for 30K a year. Now in 2001 my guess is 30K would equal about 45K nowadays but still far less than what new grads where getting paid.