is RMC & ROTP super competitive and when should I apply?

[LIABOL]

I'm currently going into Gr.11 as of this year. I've maintained a 80+ average for both prior grades and also plan on take a reserve COOP in Gr. 11. I have heard mixed things about when i should apply. some say Gr. 11 and others Gr.12. also currently I'm a cadet and have talked with a officer cadet and he told me that if i make corporal in the reserves I'll end up making around $70,000 whilst at RMC. is this true? Anyways I guess what I'm really wondering is if im a good canidate as thats my # 1 worry.