Is there a certain point at which it no longer makes sense to pursue a greater income? Maybe. I think you must consider the tradeoffs when contemplating a position with more responsibility and pay. Because the more you make the less you keep. Much of the developed world has a progressive tax structure, in which people who earn more pay a greater proportion (and dollar amount) of their income in taxes. Marginal tax rates for top-earners in Canada are displayed in the table below, and are as high as 54%!
The Raise You Shouldn't Take
The Raise You Shouldn't Take
The Raise You Shouldn't Take
Is there a certain point at which it no longer makes sense to pursue a greater income? Maybe. I think you must consider the tradeoffs when contemplating a position with more responsibility and pay. Because the more you make the less you keep. Much of the developed world has a progressive tax structure, in which people who earn more pay a greater proportion (and dollar amount) of their income in taxes. Marginal tax rates for top-earners in Canada are displayed in the table below, and are as high as 54%!