Average Salary to Comfortably Afford Horses?

[Gwyneth]

I’m currently in my third year of undergrad and I’m on track to pick a career in the medical field. I’m still deciding exactly what I want to do, and since horses are a big part of my life, the estimated salary is going to be an important decision in what career I choose.

I’m a dressage rider and I have aspirations to compete at the FEI level (right now, I’m competing at 4th level with my current horse). I want to be able to afford nice horses and to have my own small but functional barn/ setup.
I’ve been trying to estimate what projected salary I would need to accomplish this. I live in Canada on the west coast, but I really want to relocate to the east coast (where the average salary is 60k).

I’m currently thinking of becoming a physician assistant. The starting wage for a PA in Canada is approximately 75k, and it usually goes up to around 100k. Any thoughts on whether this salary would be appropriate for my goals?

Any comments on this or on your own situation (even just rough numbers) would be super helpful and very appreciated!

[mds79]

Hi, I live in Canada too (AB), i live in a small house with a partner and we don’t have kids. Our combined income is around $150000 and there is NO WAY we could afford a little barn set up, but i think without that, what you want could be doable. I hope that is helpful

[mds79]

I think without the barn and if you didn’t have kids you could probably be ok

[horseshorseshorseshorses]

I’m on the west coast in a not major city but not a small city. I’m also not in the medical field but I can give you some ideas of how I was able to afford a horse both straight out of university and now.

• Post university (high cost of living area)

  • Salary was $48-50K
  • Cost of living: $1.5-2k per month or so
  • Cost of horse: $600-1000 per month
  • No showing outside of schooling shows but I was able to keep in training

• 10 years into my career (I did move to a cheaper area but now I have more communiting)

  • Salary $65-70k
  • Cost of living $2k per month
  • Cost of horse $850-$1500 per month
  • 1-3 rated shows a year at a cost of $500-1500 per show
  • Schooling shows as needed with a cost of $100-500 per show

One thing to keep in mind when moving to an area is cost of living for yourself and your horse. Even if the pay is better in an area the cost of living and board may set you back further than you expected.

[Christa_P]

It would depend on you location. If you live close to Toronto as an example you would need a much higher salary than more rural areas.

I would look at real estate prices compared to salaries for areas you’re interested in and see how the numbers work

[rockonxox]

It isn’t necessarily the salary. Yes, that is an important part… but you’ve also got to look into expenses and what sacrifices you are willing to make. One can easily spend a 75k salary on living expenses depending on how they live (and of course what area they are in as some are much more costly than others for the basics). You’ll also have student loans to pay back.

The best thing for you to do is create a budget. I use a simple excel sheet. Enter all mandatory expenses (utilities, mortgage or rent, gas, groceries, car payments, phone payments, etc etc), all wants but not needs (cable, streaming services, gym, etc), any debts (credit cards, student loans, etc), any other expenses (paying into a 401k, investment account, money putting towards savings, etc). Then, for the horse part, you’ll want to figure in those under a separate category of horses… how much is it going to cost per month to feed, shavings, do you need an extra person to pay to take care of horses around your work schedule, etc). You’ll have to find a barn to buy and east coast can be $$$$ so while that isn’t in your monthly expenses overall, unless you have money laying around already to buy something that might be a dream for further on down the road so you can start saving up. Then, plug in a salary and remember that you will not get the full salary - taxes and perhaps health insurance costs will come out of it. If your job doesn’t provide health insurance go back and add that to the mandatory expenses. Play around with the numbers and see what those look like.

And, also, think about the time restraints you’re going to have. If you want to show regularly then a position like a physicians assistant may not allow you to do very much of that. Benefits and PTO will come in to play there. Again, about what you are willing to sacrifice to make it work.

I definitely think on 75k to 100k you can own at least one to two horses and board them and be able to work towards FEI and save any smidgeon of money left and put it towards eventually owning a barn. Barns take more time and/or money to maintain and if you want to have facilities like an indoor arena (on the east coast this is quite necessary to ride thru the winter) you’ll be spending even more $.

[TMares]

Wherever you are 100k is a good starting number, esp since you think you want your own place. Someone will now come along and say it can be done at 50K in MiddleofNowhereLand 500+ miles to good instruction much less a recognized show LOL, so again- it’s a starting point.

[Amber_Ridge]

where in Canada are you? I am in Southern Ontario and that is not enough money now, never mind in the future. A small farm in the Niagara Horseshoe is $1,000,000 that isn’t a handyman’s special and that doesn’t include the cost of the horse and training. Facilities in the area that you could board with full training would be $1500-2000 and that doesn’t include showing or winters in warmer climates. It would be difficult on your own unless you would be >$150,000/year

[clanter]

Average Salary to Comfortably Afford Horse… appears to be whatever you make plus additional funds as all can be spent. This “sport” appears to no cap on expenditures

[evilc123]

If you are factoring in purchasing a horse (whether it is now or years from now) who can take you to FEI levels, you’ll need to be making a lot more than that IMO. I’m guessing that you won’t really narrow down a specific salary range since people have different lifestyle choices for themselves and for their horses and living expenses vary by geography. Personally, I like being able to comfortably afford what I need when I need it which is why I chose the profession I’m in–literally to independently support my horse habit while still feeling fulfilled in my career. (I’m an AA without FEI aspirations and make a lot more than the ranges you’ve listed; though I live just outside a large city where living expenses are high.) If horses are going to be a priority in your life, I would try to aim for a higher number. :nonchalance:

[streamline]

I grew up with my parent having a salary of about 80k, I was able to show, not very much and I didn’t have great caliber of horses. No car payments. A very small mortgage payment, frugal everywhere except with the horses. I remember eating lots of top ramen and pbj sandwiches for dinner. This was in California.

I know salaries for PAs can be more or less than that. Student loans etc? I’m sure it’s doable if you penny pinch.

My SO has a salary double of that 80k, with a mortgage under 1k and I still don’t have fancy horses 😂 we are just starting out basically. We have a kid on the way. I don’t have any car payments but the small amount of money I make a year goes towards cell phones. My auto insurance, some groceries and some small stuff for the horses. DH foots the bill for feed/vet/shoes etc. to be fair 2 of the 4 are his horses.

I think in a few years I’ll be able to stash enough money away to start showing again. No big shows, I don’t see myself jumping 1.45 anytime soon… if I could jump around the 1.10s at Colorado horse park for a few weeks out of the year and maybe even Spruce I’d be happy. I’m sure there are some people roughly the same income who show more and have nice horses.

Next big purchase for us is a big horse/stock trailer. Having a two horse with 4 horses doesn’t work. Also if it was up to DH his 30 head of cattle would be 100+ and I would be ‘working’ for him full time. Hasn’t happened yet

[Scribbler]

If you pick a very low cost area like rural prairies or maritimes, you can cut down on cost of land and hay. But you will be out of reach of shows clinics and coaches. And jobs. If you settle in Horse Central in the greater Toronto region you will be admirably placed for the dressage world, and jobs. but the prices will be urban high.

When you look at your salary, you need to calculate taxes and payroll deductions and retirement contributions if they are taken off your cheque. So take about 30% off the top which will leave you with about $50,000 a year or $4000 a month.

That sounds like a lot when you are an undergrad! But at least on the West Coast, figuring its $1800 to rent a one bedroom apartment and up to $1000 to board in a good barn accessible to the city, and gas is over $1.50 a litre, and $75 an hour for lessons, that $4000 will not go far. I am sure prices are similar in the GTA.

I am a college prof making more than your projected starting salary. I keep a horse modestly in self board and keep my monthly basic expenses low. I wouldn’t feel financially comfortable buying a $70,000 horse and keeping it in full training.

However, it really depends on what you mean by “compete FEI.” You are at 4th level now, and the FEI tests start at PSG. Here on the west coast those classes are offered at all the rated EC Bronze or Gold shows, though they tend to be under subscribed. Competing FEI might be as simple as firming up a few moves on current horse and moving up a level.

In that case, you already know the expenses and drill.

I would say anyone on a professional salary ought to be able to compete one horse locally and move up levels if they have a good enough horse and the right trainer on board.

But if by compete FEI, you mean have a string of quality horses and compete out of your region, maybe in the US, and win against established players in well subscribed competition: i think you might not have the money to play at that level. A lot of American amatuers are seriously wealthy, and there is much more money in the US. Plus $CAN is running 30% below $US so showing down there will be extra expensive.

A lot would depend on your own skill as a trainer. Can you start green horses and move them up the levels in a timely fashion with only a little trainer input? Or do you need to buy made horses, or be in a training program, to be successful?

And land costs vary a lot. Horse acreage in the BC Lower Mainland starts at about $5 million. A basic suburban 3 bedroom house is $1.5 million, a condo is about $500,000.

You could get a whole ranch in the back country for under $500,000.

Whether you can afford land will depend where you settle for your permanent job

I do think Southern Ontario has the most coherent horse competition scene in Canada. And therefore the biggest concentration of coaches. And all the Olympic competitors in every discipline. So in terms of learning and competing, that would be where to settle for sure.

[Somantu]

With your numbers in mind, the GTA would not be feasible. I board one horse and don’t show. I do take a lesson once a week, sometimes twice. Last year my horse totals came to around 18K CAD, which doesn’t include gas.

[skip99]

I have a very similar set up to what you want to have - small, functional farmette (well, almost functional ). We are in a fairly high cost of living area, but got a great deal on our place. I am married and between us we make a healthy amount for our location and age. I have 2 horses at home plus a borrowed pony and retired boarder. We have a mortgage, including taxes & insurance - a bit below $4k. I budget right around $1.5k a month to spend on the horses which covers all of my regular expenses (feed/hay/bedding/farrier for all 4 & vet/supplements for my 2, etc) plus small tack purchases, a couple lessons a month and an unrated show here or there. So between the mortgage and regular horse costs that’s about $5.5k a month - $66k a year. That does not include our regular living expenses, farm equipment/vehicle costs, etc.

[shiloh]

Plus, you have to factor in time. By the time you get off work, are you going to want to spend time with your horses, especially the kind of time required to get those horses to show level? You may or may not get two days off in a row. Out here in my area of CA, doctors and PAs work several days in a row for 12 hours a day. Depends on where you work and who hires you. Many hours to be spent proving your “worth” before you get to coast on a set or preferential schedule. If you are junior man - least senior - expect to have the goofiest schedule and to have to work more hours.

[HJdaydream]

You have received some amazing advice! Everyone’s numbers also match-up with what I have experienced. If I was single, I would probably not be able to afford my current horse set-up on a high-ish 5 figure salary before taxes. You will be surprised how much taxes cost you, or at least I was.

I show h/j, and my horse bills run around $1500/month which includes board, farrier and training. Obviously owning your own property would changes things, but there are a ton of costs involved with that as well. Vet is additional. So far this year I have spent almost 2k in vet bills, and that is just maintenance type stuff, not even any crazy unexpected bills. I can only afford to do local type shows, and those run about $2k a pop, not including hotel. I can manage about 5-6 of those per year typically.

So in summary, you can easily pay approximately $28k per year to board at a show barn and do a handful of local A shows in a year if you live in my area (Texas). Add another thousand or 2 (or more depending on their value) if you insure your horse. If your take home pay after taxes is let’s say $60k, then it’s not really realistic to say you will spend 50% of your take home pay on horses.

This is obviously just one scenario, but I hope it helps you! My husband makes more then me, and our combined incomes still make the above scenario tight, and we have a 3 figure mortgage (not including property taxes) and only one car payment currently with no other expensive hobbies. I would say a $200k salary is a better target to compete at a high-ish level comfortably (and that still doesn’t include tons of shows like some people do). I know that might sound insane, but I think it’s important that there is transparency about what it really costs to compete at a high level if that is truly your target. Wishing you the best of luck!

P.S. I’m a sonographer (ultrasound) and I love working in healthcare! There are several PA’s that I would with in Radiology that do quite well ($125ish) but they also have debt from school which takes a large chunk. Something to keep in mind with further schooling if you are paying for it yourself. Best of luck!

[findeight]

Comfortably afford a horse is not the same as wanting to be at least be competitive at upper levels of Dressage. That level training and coaching is as much as basic horsekeeping keeping expenses and probably 60k before taxes and mandatory expenses, rent, loans and CCs , commuting costs etc? Not going to allow for top level training needed to attain competency and compete those levels. And that’s if the horse stays healthy.

But you certainly could keep a horse as a single person far more modestly for that somewhere within an hour or so of Toronto or any other similar sized city not right on the coast in the northeast or west coast.

[Scribbler]

@findeight

Comfortably afford a horse is not the same as wanting to be at least be competitive at upper levels of Dressage. That level training and coaching is as much as basic horsekeeping keeping expenses and probably 60k before taxes and mandatory expenses, rent, loans and CCs , commuting costs etc? Not going to allow for top level training needed to attain competency and compete those levels. And that’s if the horse stays healthy.

But you certainly could keep a horse as a single person far more modestly for that somewhere within an hour or so of Toronto or any other similar sized city not right on the coast in the northeast or west coast.

Yes to most of this.

Except in the Canadian context Toronto is the biggest city and the biggest connurbation in Canada. On the map it is directly above the lower cost American Midwest (Detroit, anybody?) but it is the heart of Canada and priced accordingly.

We tend to call Toronto Eastern Canada. But it’s really central Canada.

The true Csnadian East Coast, the maritime provinces, are economically depressed and rural. On the West Coast Vancouver is insanely expensive but Vancouver Island can be quite rural and inexpensive.

[DarkBayUnicorn]

I’m with @Scribbler on this. Toronto is super expensive. Like almost $2,000/month rent on a basement apartment expensive, even in the 'burbs. Decent board is $1,000 before vet and farrier and lessons.

Maritime provinces you can cut costs in half.

[EventingMaff]

Is it possible to compete at FEI levels on your salary in a mid-to-high (but not immediate GTA-level) prices? Yes, but would require a lot of creativity and probably time (.e.g doing rough or part-board).

It won’t be easy and you’ll probably progress more slowly then you’d like as frequent lessons will be difficult to swing, you’ll be limited in number of shows per year, and you will likely have to suffice with less flashy/purpose-bred horses as they’d be starting at 40-50% of your annual salary (as greenies). There is a big difference between competing and being competitive.

For the small farmette - you may change your tune on that. I thought I wanted that too but honestly the amount of work required in maintenance and upkeep (not including daily care of the horses) - I’d rather work those hours and get reliably paid to keep my horses boarded with year-round indoor access and better access to clinicians and trainers. My barn brings in clinicians and permits, has on-site trainers, and allows external trainers for a small fee. Much easier then hauling out to lessons or trying to convince trainers to travel to me (as if externals do come I can usually line up 2-3 other boarders interested to make their time worthwhile) Also makes vacations/travel much easier.