70K possible for a Toronto nurse?

  1. Hi all,

    I am hoping to start by BScN at U of Toronto this coming fall. (I actually started a couple years ago, but realized a few weeks into it that I didn't want to take on any more student debt, so I quit and went back to work). Anyhow, I am a bit better off financially now, and really hate my career (banking), so think it's time to give it another shot. I make about 75K now and am worried that I will never again be able to attain that as a nurse. Is it possible? (I do have an MBA, which I hope will help). I'm not in this for the money, but still need to survive! As we all know, TO is not a cheap place to live, and I don't have a spouse or parents to rely on.

    Any thoughts? Thanks very much.
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  2. 18 Comments

  3. by   ajaxgirl
    Quote from bellasalsera
    Hi all,

    I am hoping to start by BScN at U of Toronto this coming fall. (I actually started a couple years ago, but realized a few weeks into it that I didn't want to take on any more student debt, so I quit and went back to work). Anyhow, I am a bit better off financially now, and really hate my career (banking), so think it's time to give it another shot. I make about 75K now and am worried that I will never again be able to attain that as a nurse. Is it possible? (I do have an MBA, which I hope will help). I'm not in this for the money, but still need to survive! As we all know, TO is not a cheap place to live, and I don't have a spouse or parents to rely on.

    Any thoughts? Thanks very much.
    Not right off the bat you won't. But after some years you will. Do you want to work in the hospital or elsewhere. That makes a difference also.
  4. by   muffie
    top nurse in ont makes $36/hr =$70k w shift diff

    w ot u can reach 100 K
  5. by   Sarah, RNBScN
    Hi

    I work in Ontario at a district hospital. I am at top level for RN wage at 35.80 / hour. I have been nursing since 1993.

    My paystub that I just found, issued for Dec. 8, 2006 with my YTD earnings of $84 633. 71. I work in a job share position which enables me to pick up extra shifts if I want to, and rarely do in the summer.

    Hope this helps.

    Sarah
  6. by   S.T.A.C.E.Y
    http://www.fin.gov.on.ca/english/pub.../hospit06.html

    This website lists people who work for hospitals in Ontario who make over $100,000. Some of them are nurses (although definitely not the majority!).
  7. by   Search
    My first posting. I read your thread and just had to comment. I too live in GTA, work as a banker and hate it. Unlike you, I make approximately 45k yearly, not nearly enough to survive comfortably in Toronto. I am choosing nursing not only for the competitive salary but also for the satisfaction of making a difference in the lives of others and freeing myself from an occupation where the bottom line is profit. While I know nursing will have its bureaucratic issues, I view it as an occupation with lots of opportunity for progression and personal development. Making 75K in a banking means you must be high up there, but if you're unhappy get out and do what you think will. I sure am. Living in Toronto isn't cheap, but if you're determined you will be fine. I am also dreading the fact that I wont have a steady income coming in when I start, so I keep telling myself its only two years. Currently I'm trying to save as much as I can, but I still intend on working part-time while in school. You've put a lot of work into achieving your MBA and so I must ask what has made you considered nursing?
  8. by   Gamma
    Quote from S.T.A.C.E.Y
    http://www.fin.gov.on.ca/english/pub.../hospit06.html

    This website lists people who work for hospitals in Ontario who make over $100,000. Some of them are nurses (although definitely not the majority!).
    The fact that there is a nursing shortage has created a situation whereby the amount of money you do make is directly related to whether or not you have a life outside nursing. If you check out that website you will find that at Sunnybrook Hospital in 2005 there were 30 staff nurses who earned over $100,000 with a couple earning over $130,000. This tells me that opportunity is there, how motivated are you?
  9. by   bellasalsera
    Quote from Search
    You've put a lot of work into achieving your MBA and so I must ask what has made you considered nursing?
    I like the idea of helping people, and I worked my way through my undergrad with Comcare as a "Homemaker". I briefly attended nursing school at U. of T a couple years ago and really liked it. Just couldn't afford it!

    Where are you applying?
  10. by   lalaxton
    With your MBA and a BSN you would have an advantage and may be able to go directly into management which pays better than bedside nurses.
  11. by   bellasalsera
    Thanks so much for the feedback everyone--it is really appreciated.
  12. by   montrealRN
    Are you crazy leaving such a great job!! As a nurse in Montreal only the HN or assistant director of nursing make such a salary..yup TO is very expensive...get a roommate..
  13. by   bellasalsera
    Are you crazy leaving such a great job!! As a nurse in Montreal only the HN or assistant director of nursing make such a salary
    Really? But with overtime, can't you make at least 70K there in Montreal?

    I just got a promotion--will probably gross about CAD85K this year. But I absolutely despise it. I dread getting up in the morning. And I never really know what time my day will end, so I have to pay for a dog wlker (not cheap and NOT tax-deductable!). And working in the head office of a bank means spending $$$ on work clothes and shoes. (I sure do like the idea of more econonimical scrubs!) I work on very academic stuff. My new job will entail re-vamping our bank's audit methodology and then creating a training curriculum for 200 auditors at varying stages of their careers. For me, it's like watching paint dry. I prefer to just "do", rather than just plan, you know?

    Do you really think I am nuts? I am trying to figure that out myself!
  14. by   montrealRN
    Well if you can make $70K in Montreal i sure haven't found that job!!! I guess a career in banking is not really exciting but trust me nursing is nothing like on the TV..much much worse especially here in MTL. In MTL a RN starts at roughly 30K and can go to just below 50K and thats it. Unless you have a BScN you can make up to 60K or a little more...really does suck...sure if you work overtime as an RN you can make more but with the short staffing trust me...your happy to leave when your shift is done. The BScN nurse don't get OT pay..
    I understand dressing for the corporate life is tough!! the clothes have to be up to date and you need to look chic! Scrubs are cheaper ...but really think about getting another job in your field ...stay at that great salary....
    Are you ready to work many many years in a non gratifying job to make less than you make now
    Think about it....................hard!!!!

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