Salary/Costs in Toronto

[krish pan]

How shall a TAKE HOME salary of $2600 go for a family of 2(adults)+2(kids) in Toronto, Canada ? How are the cost's of living in Toronto ? Thanks in advance.

[krish pan]

Just to Update, the amount mentioned is monthly salary.

[Luke Kolin]

For what it's worth, I made $1950/month after taxes in my first job out of college in Toronto, in 1995.

What is your level of experience, and what is the job?

Cheers!

Luke

[krish pan]

Luke in fact my question is about Cost of Living and not salary size. I am a Java Architect with 9 years of experience and the gross sal. stands at 69K p.a. I am not sure if this is a good sal. but the take home after my morgage/loans is going to be $2600 per month. The query which I have is if this much amount of 2600(CAD) per month enough for a family of 4 (including kids) as mentioned above ? You can also add if this is a fair salary for a resource with specified experience level and if not ideally what should be the right salary per annum. Thanks in advance.

[Campbell Ritchie]

Take home pay after mortgage? We usually calculate take home pay before paying the mortgage etc.

[Maneesh Godbole]

I think the OP is talking about the amount left over after paying the mortgages etc.

[krish pan]

Ok No Confusions. I am talking about the amount left with me after I pay my liabilities (i.e. loan's, equated monthly instalments). Now the amount left is $2600 CAD per month. Can anyone update about how well can I have living with this much amount in hand for spending towards grocery/rent/entertainment/etc. with the family of 2 adults and 2 children (less than 6 years age)

[Luke Kolin]

krish pan wrote:Luke in fact my question is about Cost of Living and not salary size.

I recognize that - I was merely pointing out that your salary seems quite low.

I am a Java Architect with 9 years of experience and the gross sal. stands at 69K p.a.

Looking here http://www.payscale.com/resources.aspx?nc=lp_calculator_canada01, a software architect in Toronto's range is between $83,700 a year and $107,000 annually. Your salary seems off this range.

I am not sure if this is a good sal. but the take home after my morgage/loans is going to be $2600 per month.

It depends. Where do you live, and how do you plan on getting around? In my experience, one of the biggest differences in a budget in Toronto was transportation.

Cheers!

Luke