Transition plan

Career Choice (A):

Computer Engineering

What do you enjoy about this career choice?

I find great enjoyment in the field of computer engineering due to its dynamic nature, offering
continuous opportunities for learning and involvement with cutting-edge technologies. The
prospect of designing innovative solutions to real-world problems through a combination of
hardware and software components is particularly exciting for me. This career choice aligns with
my passion for technology and creative problem-solving, providing a fulfilling outlet for my
skills and interests.
What sort of lifestyle can this choice create for you?
In terms of lifestyle, computer engineering can offer a flexible work schedule, allowing for
potential remote work options. The demand for computer engineers in various industries also
suggests the possibility of job security and a comfortable lifestyle. Choosing computer
engineering as a career seems to be the best fit for me, as it combines my interests with the
potential for continuous growth and development in a rapidly evolving field.
Why is this the best choice for you?
This career choice aligns with my passion for technology and creative problem-solving,
providing a fulfilling outlet for my skills and interests. The ever-evolving nature of computer
engineering ensures continuous challenges and opportunities for growth, which I find
stimulating. The potential for a flexible work schedule and the demand for computer engineers in
various industries contribute to the belief that this is the best choice for me.
Career Info

Upsides/downsides of this employment choice

When considering the employment aspects, computer engineering presents several upsides,
including high demand across industries and opportunities for innovation. However, it may also
involve tight deadlines and high-pressure situations. The key responsibilities in this field
encompass designing and developing computer hardware and software systems, analyzing user
needs, and ensuring the optimal functionality of systems through testing and debugging.
Job duties/responsibilities
The key responsibilities in computer engineering include designing and developing computer
hardware and software systems, analyzing user needs, and ensuring the optimal functionality of
systems through testing and debugging.
Salary range
In terms of compensation, the salary range for computer engineers is competitive, with potential
for increased earnings with experience and specialization.
Future outlook
Looking towards the future, the outlook for computer engineering is promising, driven by
ongoing technological advancements that create a growing demand for skilled professionals.
Lifestyle factors
Lifestyle factors in computer engineering can involve a fast-paced work environment, yet the
potential for flexible schedules exists depending on the specific job role and employer.
Advancement opportunities in this field include transitioning into leadership roles, specializing
in areas like cybersecurity or artificial intelligence, or even starting a technology-related
business.
Advancement opportunities
Advancement opportunities in computer engineering include transitioning into leadership roles,
specializing in areas like cybersecurity or artificial intelligence, or even starting a technology-
related business.
Employability Skills

Skills required for the position

Proficiency in programming languages (such as C++, Java, Python), strong analytical and
problem-solving skills, and excellent communication skills for collaboration with team members
and clients are crucial.
Personal attributes
Personal attributes beneficial for a computer engineering career include being detail-oriented,
adaptable to evolving technologies, and creative in finding innovative solutions to complex
problems.
Education needed to pursue my plan

Courses/training/certificates needed
To pursue a career in computer engineering, a bachelor's degree in computer engineering,
Computer Science, or a related field is typically required for entry-level positions. Relevant
courses in hardware design, software development, and systems engineering form a foundational
educational background. Advanced degrees, such as master's or Ph.D., may enhance
opportunities for specialized roles or career advancement in the field of computer engineering.
Post-secondary requirements
A bachelor's degree in computer engineering or a related field is typically required for entry-level
positions. Advanced degrees (master's or Ph.D.) may be beneficial for certain specialized roles or
career advancement.
Career Choices (B):

Invesment Banker
In choosing a career as an investment banker, I find immense enjoyment in working with
financial data and analysis. The fast-paced and dynamic nature of this field aligns with my desire
for strategic decision-making. However, I am aware that the lifestyle associated with investment
banking often involves long working hours, particularly during deal transactions. This choice
reflects my interest in finance and the excitement of contributing to strategic financial decisions,
making it the best fit for me.
Career Info:

Upsides of becoming an investment banker include the high earning potential, exposure to
exciting deals, and valuable networking opportunities. On the downside, the career demands long
working hours, entails high-pressure situations, and may experience job instability during
economic downturns. The job duties involve financial analysis, market research, and preparing
financial models, with a salary range for entry-level analysts typically between $80,000 and
$120,000, and experienced investment bankers earning $150,000 and above. The future outlook
is generally competitive but lucrative, while the lifestyle factors include a high-stress
environment, long working hours, and potential for frequent travel. Advancement opportunities
include progressing to roles such as associate, vice president, and managing director.
Employability Skills:

To thrive in the role of an investment banker, several essential skills are required. Analytical
skills are crucial for financial modeling, while effective communication is necessary for client
interactions. Additionally, strong time management skills are vital for handling multiple tasks
simultaneously. On a personal level, attention to detail, a strong work ethic, and the ability to
work under pressure are attributes that I possess and believe will contribute to success in this
field.
Education Needed:

To pursue a career as an investment banker, specific educational requirements must be met. A

bachelor's degree in finance, business, or a related field is typically necessary. Additionally,
obtaining certifications like the Chartered Financial Analyst (CFA) can be beneficial. Many
successful investment bankers pursue advanced degrees, such as an MBA, for career
advancement. This educational foundation, combined with the right skills and personal attributes,
will support my plan to become a successful investment banker.
 Travel/Gap Year

 India: Chennai
When?
 Time of Year/Season:
 Monsoon Season (July to August)
 Duration:
 1 month (July 1st to August 1st)
How?
 Modes of Transportation:
 Arrival: International flight to Chennai
 Within Chennai: Public transportation, auto-rickshaws, and occasional rideshares
Accommodations:
 My house in Chennai
Budgeting Costs:
 Anticipated Food Costs:
 $15 per day per person
 Travel Insurance:
 Basic travel insurance: $50
 Local Transportation:
 Public transportation pass: $20
 Activities and Sightseeing:
 Allocate $300 for exploring local attractions and events
 Phone Plan (Extra Charges?):
 Local SIM card with data: $15
 Miscellaneous:
 Emergency fund: $100
 What Will You Need to Buy Before You Go?
 Lightweight and breathable clothing suitable for monsoon season, travel-sized umbrella,
mosquito repellent, power adapter for Indian sockets.
 What Will You Buy While You Are Travelling?
 Local spices, traditional clothing, handicrafts, and souvenirs.

Working Full-Time & Living on Your Own

Projected Employment:
  Job Title: Team Member (Full-Time) at Tim Hortons
Income:
 Hourly Wage/Annual Salary: $14/hour; $29,120 annually
Income Tax:
 Use an income tax calculator to estimate your provincial & federal taxes and deductions.
Estimated Income Tax: $4,500 annually.
Net Income:
 Subtract Income Tax from Income (A – B =)
 Net Monthly Income: $1,851.67
 Net Annual Income: $24,620
Expenses:
 Rent:
 Location: Langley
 Bedrooms: 1
 Bathrooms: 1
 Square Footage: 400 sq. ft.
 Parking: On-site parking
 Monthly Rent: $800

 Utilities:
 Electricity: $40
 Water: $20
 Cable/Internet: $50
 Food/Grocery:
 $200 per month

 Transportation:
 Compass Card (Transit): $80

 Communication:
 Cell Phone: $40

 Personal Care:
 Clothing: $50
 Entertainment: $80
 Personal Items: $30

 Recreation/Sports/Gym Membership:
 Gym Membership: $30
  Other Expenses:
 Gifts: $20
 House Supplies: $40
 Specialist Fees: $10
 Eye Care/Prescriptions: $20
 Haircuts: $15

 Savings/Investments:
 Aim for a minimum of 10%: $185.17

Total Expenses:
 Monthly: $1,755.17

Total Net Income MINUS Total Expenses:

 Monthly: $96.50

Reflection on Job and Lifestyle Compatibility:

Working as a full-time Team Member at Tim Hortons brings both opportunities and challenges
in aligning with my desired lifestyle. While the job provides a steady income, it requires
thoughtful consideration to ensure my financial stability and the ability to meet long-term goals.
Sacrifices and Adjustments: The nature of the job at Tim Hortons, with an hourly wage of $14,
necessitates a mindful approach to budgeting. Sacrifices in terms of luxurious expenditures and
non-essential expenses are evident. Dining out frequently and engaging in high-cost
entertainment may need to be scaled back. Additionally, planning for occasional splurges will be
crucial to maintaining a balanced lifestyle.
Prioritizing Essentials: My priorities will shift towards prioritizing essential expenses like rent,
utilities, and groceries. Rather than focusing on discretionary spending, I'll emphasize the
importance of building an emergency fund and contributing to long-term savings. This shift
reflects a more conservative financial approach, aligning with the income level from my Tim
Hortons position.
Savings Plan: Planning to save a minimum of 10% of my income annually is a primary goal.
This equates to $185.17 per month, contributing to both short-term and long-term financial
objectives. In five years, the savings could be earmarked for educational pursuits or skill
development courses. In ten years, the goal would be to accumulate a sufficient down payment
for a modest home. These savings goals are aimed at providing financial security, enhancing
skills, and establishing a foundation for future homeownership.
Challenges and Opportunities: The challenges of managing a modest income are evident,
requiring discipline and careful budgeting. However, this opportunity allows me to develop
strong financial habits, fostering resilience and adaptability. The skills gained from navigating a
frugal lifestyle can be invaluable in the pursuit of future career opportunities.

Conclusion: While the job at Tim Hortons may require adjustments and financial discipline, it
presents a valuable opportunity to build a strong foundation for future financial success. By
setting realistic savings goals and aligning priorities with essential expenses, I can strike a
balance between a fulfilling lifestyle and responsible financial management. This reflection
underscores the importance of adaptability and prudent decision-making in achieving both short-
term and long-term financial objectives.