How I made $76.92 in 45 minutes by listening

I enjoy getting paid, especially for something that takes very little effort and is interesting or informative in some fashion. This last week I was paid $67.57 in pre-tax dollars to listen to a thirty minute sales pitch. Here is how it happened and even more important why I did it.


Promotions are my favourite!

RBC is currently having a promotion where they will give you a prepaid $50 VISA for setting up and appointment, bringing in a copy of your last bank statement and discussing their banking services with them. (RBC Statement Challenge)

When I saw this promotion I happily visited their website, quickly scheduled an appointment through their online chat support and printed off a copy of my statement. On the day my appointment was scheduled I walked to the branch and spent thirty minutes being told about the various services RBC has to offer by a very nice, and professional account manager. I am actually very happy with my current banking situation, although I do actually like to keep on top of what various banks are offering by way of services and fees. I considered it a good use of time even without the financial incentive. After the meeting I was given my $50 VISA and was on my way home. Now most of you will have noticed that $50 does not equal the $76.92 I mentioned in the title, let me explain.

Before tax dollars

It all comes down to how I like to think about any money I make or spend. Whenever I get anytime of extra non-taxable income like this I like to calculate how much money I would have to make at my job to have earned the same amount of money that I could spend/invest. I work full-time in Saskatchewan and have a marginal tax rate of 35% *. This means that to earn the extra $50 by working I would have to actually make the equivalent of $76.92. If I was making $20/hour (I’m not telling you how much I actually make ;)) I would have had to work 3.83 hours to have made as much money as I made in 45 minutes. I don’t know about you but that feels like a pretty good use of my time to me!

Never to busy for a good deal

I’m often surprised at how many people I know would turn up their nose at doing something like this with the excuse that they are far too busy or important to waste their time like this. I have a hard time imagining myself ever being to busy or wealthy enough to not jump at a chance to trade 45 minutes of my time for $76.92. This offer is a great opportunity not only to find out what services RBC offers but also make a little cash at the same time!

Definitions for this post

Marginal Tax Rate *
Your marginal tax rate is the amount of tax paid on any additional dollar of income. So for every additional taxable dollar I earn from work, investments, etc. I will pay $0.35 in income tax.