x

[leelee]

I dont know, but to me 100k/year sounds like alot. OT's make alot less, but I think they have to work harder...like I said I havent shadowed yet, but I have gone to my optometrist on numerous occasions, to get glasses and have my eyes checked. He doesnt really do that much...just asks a couple of Q's, looks at his computer, then asks more questions, then advises.

But I guess there are other people who have a greater disorder with their eyesight, and that is why the salary is substantially high. I dont even know what an opthmologist is, I think they are the ones who can do surgery on the eye, but I would except an opthamologists salary to be 100+k, not an optometrists.

I have to say I'm pretty insulted by the comments here. 100k/year too much? OT's work harder? Optometrist doesn't do that much? I'm an optometry student working my butt off and loaning over 6 figures to get an education to not only be able to refract you but look for disease as well. Oh and I'm pretty much learning about every drug ever right now so I will be able to know how drugs people are taking may affect the eye or how their systemic conditions for which the drugs are taken can affect the eye. Then I can look for signs of disease/abnormalities accordingly. Plus I will be able to write Rx's for various conditions. I'd better make more than an OT for the 4 years of professional school after undergrad I endure and the vast amount of knowledge I will have comparatively. You don't realize that those questions your OD is asking are of importance, they aren't just for fun or random. There's a reason for them.

---

Members don't see this ad.

 

[odstudent]

~word

 

[maxwellfish]

What do others think about those number on salary.com for the US? Are those numbers inflated?

 

[gochi]

http://www.workfutures.bc.ca/link.cfm?print=true&lang=en&site=graphic&noc=3121

 

[jefguth]

THE AVERAGE ANNUAL EARNINGS reported in this publication is a measure of actual employment income, according to the Census of Canada. Earnings data are reported for all workers in an occupation as well as for full-time, full-year workers. The all workers category used in this publication includes part-time, full-time, part-year and full-year workers. The full-time, full-year worker category includes any person who considered their work to be full-time, and who worked for 49 to 52 weeks.

http://www.workfutures.bc.ca/article.cfm?lang=en&site=graphic&article=tech_comm#datadef

Generally, I don't trust these kinds of figures b/c the way that an optometrist reports income is going to be very different from the way in which regularly employed people report. Most optometrist are not "employed," even those working for another OD, in most instances, are technically "independent contractors" working for themselves but contracted to another entity. Additionally, if an OD has their practice set up an a "professional corporation," income can either be paid out to the OD as regular employment income, dividend, or held inside the corporation to defer personal income tax OR a combination of all the above.

 

[still_confused]

I went to Royal Bank the other day to discuss lines of credit. They told me an OD makes 65k to start and that's what they base there lines of credit on. Again, I don't know about this. Kinda low, even to start.

its very easy, ask yourself do you want to be in this profession enough that you are willing to make 65k with 200k in debt? are you willing to live in a tiny apartment while you struggle to build your "dream" practice? If so, go to optometry school, if not, there are plenty of other ways to make 100k (i.e. dental/pharm).

 

[carizma12]

I went to Royal Bank the other day to discuss lines of credit. They told me an OD makes 65k to start and that's what they base there lines of credit on. Again, I don't know about this. Kinda low, even to start.

yeah i went to RBC and they told me that too. they're trying to be conservation and assume the worst case scenario... (what the lady told me) they're trying to figure out if you will be able to pay them back if u were to make the least amt possible.

 

[Canadian26]

No matter what professional school you go to you will have debt... After 5yrs at 65k being an OD you'll be able to pay off your debt depending on how muich your costs go up. I know alot of ppl who stay in their apartments that they had as students for the first couple years to lower their debt. It is possible to be debt free in approx 5 years after OD school on a 65K a year salary. Dent/Pharm students face the same problem, except for Dent schools costs are higher. Pharmists salary's also tend to curve off after a certian point.

 

[jefguth]

It is possible to be debt free in approx 5 years after OD school on a 65K a year salary.

I think you grossly underestimate the impact of income taxes.

But let do an exercise (using this handy calculator )to see what happens if you're an ON resident, 65K income, w/ tuition tax credits of $120,000 avail, and you make max RRSP contributions.

Yr 1.
65,000 income
11,700 RRSP contribution (18%)
4,958 Total taxes
~78,000 unused tuition credits
NET: 48,342 + 11,700 in RRSP account

Yr 2.
65,000 income
11,700 RRSP contribution
4,958 Total taxes
~36,000 unused tuition credits
NET: 48,342 + 11,700 in RRSP account

Yr 3.
65,000 income
11,700 RRSP contribution
6,091 Total taxes
$0 unused tuition credits
NET: 47,209 + 11,700 in RRSP account

Yr 4.
65,000 income
11,700 RRSP contribution
6,091 Total taxes
$0 unused tuition credits
NET: 39,445 + 11,700 in RRSP account

Yr. 5
65,000 income
11,700 RRSP contribution
6,091 Total taxes
$0 unused tuition credits
NET: 39,445 + 11,700 in RRSP account

So at the end of 5 years you have made $222,783 after tax, and have contributed $58,500 to RRSP accounts.

If you elected to make no RRSP contributions in this time frame, it would come out to after tax income of $ 263,067 (58,890, 58,890, 50,361, 47,463, 47,463) over the five years.

I think that most people would be hard pressed to pay off loans for school in the US in just five years, and live day to day on a $65,000 income. However, it's not that terrible of a situation - very doable if you're frugal enough, it would just require a longer repayment schedule.

 

[gochi]

If an OD makes 100k/yr the gov takes 40% as taxes in canada. Therfore the net income is 60k !!!

is the 40% cut-off correct ?

How is this cut-off different compared to the USA ?

thanks

 

[canadaod]

If an OD makes 100k/yr the gov takes 40% as taxes in canada. Therfore the net income is 60k !!!

is the 40% cut-off correct ?

How is this cut-off different compared to the USA ?

thanks

100k/yr2006 BC)

CPP: 1910.7

EI: 729.30

Net Tax(after tax return):$25,987.95

Net Income=100,000-1910.7-729.3-25987.95=71327.05

 

[144873]

I have a friend who is graduating this year. She already has 10 job offers. She has the opportunity to interview these jobs and pick the best offer. Each offer is in the 70-80k/a range. HOWEVER, these offers do NOT reflect what she could make, potentially, in a private practice.

In opening a private practice, your starting salary will likely be significantly lower than the national mean. But, after a few years, your salary will raise and meet the mean, and then surpass it. The optometrist I shadowed makes WELL above average.

If you decide to take a job with another commercial company, your starting salary will be close the national mean. And over the course of a few years, your salary will likely remain fairly close to the mean.

Your future is dependent on your choices. There are many ways to earn a salary above 70-80k (which I agree is quite low), and not just by starting a private practice.

But personally, I wouldn't guage my success by my salary. I have a genuine love and passion for the profession (I've been working towards optometry school since grade 9 lol). And I think that those who share this sentiment will be dedicated, knowledgable professionals with promising futures and careers they LOVE.

So make sure you want to be an optometrist for the right reasons, and work hard!! Then you will end up happy, and the salary part will work itself out.

 

[hye345]

Your remind me of the guy in this article:

http://health.groups.yahoo.com/group/optometrysucks/message/264

Please don't flame.

 

[144873]

Please don't flame?? What are you talking about??
I read the article, and its one person's case/opinion. There are many things mentioned in the article that are only applicable to a very small portion of North America.

For example, he didnt get any patients because no one was worrying about eyecare immediately after 9/11. Seriously, how many optometrists across North America are affected by that??

And another example is the idea that a private practice can make money only by exploiting patients and mooching of EYEMED. Get real. This may have been the case for the author of the article, but definitely not all optometrists. And this example implies that many optometrists, namely those in private practices, are unethical.

Well the optometrist I shadowed is a close family friend. I have known him for many years. Yes he has a private practice and yes he does earn a salary much higher than average. But you would like to label him unethical????? And imply he explots his patients?????
Well let me tell YOU something. He has raised over $200 000 through various charitable means for cancer research. This money was used to purchase a new machine for a cancer research group AND HAS ALREADY SAVED THE LIVES OF 10 CHILDREN!!!!!!! His complete experience, through optometry school and the first few years of starting practice, has placed him in a position where it is possible to give back. I find THIS more rewarding than being a teacher, unlike the author of your beloved article.

I said in my last post that people who genuinely love this profession, and work their hardest, will end up rewarded. Rewards are not always monetary. And the degree to which you serve your community is not restricted to what you can or cannot do in your office/private setting.

Don't ever compare me to anybody again. You obviously do NOT know a thing about me.

But hye345, I know something about you. You want to apply to dentistry. And I see that you haven't even been to undergrad yet!!! Get off the Optometry forum and find a junior high or high school forum. All you did with your last post is find an article by someone else, and then post it and act like its your opinion.

 

[hye345]

Umm... I honestly don't know where to start...

First off, I apologize if my post was misunderstood (which it obviously was).

Don't ever compare me to anybody again.

I am not attempting to compare you and the person in the post. I only said that you reminded me of the guy in the article because both you and him began pursuing optometry at a very young age (9th grade for you, probably 8th grade for him). If you think that I implied that you made a bad career choice, you are misinformed.

The things that the guy said in his article were his opinions, not mine. These opinions were based on his own personal experiences. So please don't go around shooting the messenger, cuz I don't hold any 'beloved' feelings towards the article or the guy who wrote it.

But hye345, I know something about you.

Am I supposed to give you a metal for your detective work?

You want to apply to dentistry. And I see that you haven't even been to undergrad yet!!!

Its true, I am thinking about applying to dentistry after undergrad. But I am also thinking about medicine and yes, even optometry. But hey, what could I know about any of these things? I'm just a dumb, naive high school student, right?

 

[144873]

Well you said I remind you of the guy in the article. And the article is like 3000 words long. If the ONLY reason I remind you of him is because my interest in optometry began at an early age, then I don't see the purpose of your comment. That fact only appears in half of one sentence in the entire article. That's why I assumed you were taking a shot at me.

I guess you didn't mean to offend me. That being said, I still don't see the purpose of your comment. It seems pointless to post a link that cuts up optometry and say to someone "you remind me of this guy," when in reality the 2 people referred to are WAAAYYYY more dissimilar than similar.

Its true, I am thinking about applying to dentistry after undergrad. But I am also thinking about medicine and yes, even optometry. But hey, what could I know about any of these things? I'm not even in undergrad, right?

Good for you, that's great. I never said you don't know anything about these areas. But obviously, as showed by your original comment, you don't have anything intelligent or constructive to say with respect to topic of the thread. MY original comment addressed the issue of Optometrist's salaries. And your reply to me had absolutely NO relevance to the topic. It was pointless. All I was saying is that I think you should find a forum more pertinent your needs. Thats what the pre-health, pre-optometry, and pre-dental forums are for. And if you feel the need to post your opinion in the Optometry forum, next time try to have a point.

 

[Ricin]

I went to Royal Bank the other day to discuss lines of credit. They told me an OD makes 65k to start and that's what they base there lines of credit on. Again, I don't know about this. Kinda low, even to start.

BMO offers 80k max but speaking to a rep she told me that this is by no means the set limit as they are very much willing to offer more based on factors such as credit history.

 

[hfpepperbean47]

HYE345 and DOCNABX...why don't you two just kiss and make up or would that constitute statutory rape? Nevertheless...nothing like reading a post full of attacks, assumptions, and defenses. Lol all in good fun, but I do have to say that the link that you supplied, hye, was hilarious. I hate doom and gloom people yet, like passing a bad accident on the road, couldn't pull my eyes from the screen.

 

[Chuffsla]

Ok, I was reading through Waterloo's website, and they said that the average Optometrist in Canada makes $70,000-$80,000 CDN. Isn't this really low, considering the amount of schooling and investment Optometrists have? I am from Canada, but it really worries me if I were to come back here from going to school in the U.S. with that much debt and making this low of an income. So is their account of Canadian salaries correct, or what? Because this troubles me...

Yes, that's what they say in the brochure as well. Kind of disappointing. It's one of the reasons I turned down my acceptance (well, that and I realized I didn't have any idea if I really wanted to go into the profession...)

 

[Mixin Marc]

Ok, but if you get paid 9/hr for flipping burgers, you will make 72 a day. 150 a day is twice as much...but I guess, 50,000 is pretty low for an optometrist. An optometrist who makes 500/day gets paid 63 dollars per hour, which I think is great, however I dont think any optometrist gets paid that much in Canada, becasue the average pay is $28/hr!!!!

Hey, jefguth
Do you think (international)Optometry school $= (international)Dental school cost $ ???

thanks

sorry for bringing this thread back - but this totally makes me laugh

an average pay rate of 28 bucks/hr?!?

 

[lauraoptometry]

Hi,

I recently received early acceptance from the University of Waterloo for the OD program and have been wondering the same thing. I think the quoted salary on their website was a very conservative esimate. Try using www.salaryexpert.com... Typical average income is in the 120K range. Also, the job postings listed on the UW site also shows the amount people are hiring OD's for.

Good luck,

EC

Hi, dental student, I was wondering whether or not you got into opotometry school finally. since I want to apply to waterloo without a undergraduate degree ( U of T), with a GPA of 3.94. do you think my chances of getting in the early acceptance?

 

[eastgtaod]

Optometrist looking for help 1 hour east of GTA in Quinte West, Ontario. Associate required one day/week for established non-dispensing practice. Bookings, case history, AR/NCT all done by staff. Definite possibility of additional work in additional nearby cities in the future. Flexible scheduling. If interested please contact: [email protected]

 

[eastgtaod]

Optometrist looking for help 1 hour east of GTA in Quinte West, Ontario. Associate required one day/week for established non-dispensing practice. Bookings, case history, AR/NCT all done by staff. Definite possibility of additional work in additional nearby cities in the future. Flexible scheduling. If interested please contact: [email protected]

Just re-upping this post. Position still available. Thank you.

 

[withwap]

Ok, but if you get paid 9/hr for flipping burgers, you will make 72 a day. 150 a day is twice as much...but I guess, 50,000 is pretty low for an optometrist. An optometrist who makes 500/day gets paid 63 dollars per hour, which I think is great, however I dont think any optometrist gets paid that much in Canada, becasue the average pay is $28/hr!!!!

Hey, jefguth
Do you think (international)Optometry school $= (international)Dental school cost $ ???

thanks

Yo what crack or pipe are you smoking? Where are u from btw? You are clearly not from Canada or never been to Canada. How you going to say optoms make $28/hr?

i used to hire optoms and each optoms used to walk home with $16k cheque from my practice every month.

I personally think optoms can easily make $150k to $180k per year. In places like northern BC or Novia Scotia you can clock in 200k a year.

Basically the further away you are from the city the more money you will make because their is a shortage of optometrists in those areas.