Understanding the average salary in Canada is a key factor, whether you’re considering a move to this beautiful country, evaluating a potential career path, or simply curious about the financial landscape. Canada is one of the twenty countries with the highest paying in the world, known for its high standard of living, diverse culture, and robust economy. Salary can vary significantly across industries and provinces, but Canada offers competitive wages and a good quality of life overall.
Whether you are studying or working in Canada, knowing more about the average Canadian salary can help you to stay competitive in the job market. In this blog, we’ll explore the average salary across various sectors and regions, and provide insights into what you can expect in terms of compensation in the Canadian job market.
What is the Average Salary in Canada?
According to the official data from the Labour Force Survey (LFS), the average income in Canada in 2024 is around $67,282 per year or $34.85 per hour across all industries. Also, the national average salary is expected to go up by 3.6% in 2024, making Canada the 20 top-paying countries in the world.
This figure of salary can fluctuate significantly depending on various factors, including provinces and industries. For example, people’s income in cities like Toronto, Vancouver, and British Columbia is higher than average, with the highest average salary in Alberta and the lowest in the Maritime provinces. Also, sectors paying the highest weekly wages continue to be mining, quarrying, and oil and gas extraction.
The City-Wise Average Salary in Canada
The average wage in Canada varies significantly across different provinces and territories due to differences in local economies, industries, and cost of living. Understanding these regional variations can help you make more informed decisions about relocating, negotiating a salary, or choosing a career path. Here’s a breakdown of how average salaries differ across the country:
| Province & Territory | Average Annual Salary |
|---|---|
| Alberta | $73,612 |
| Toronto | $50,520 |
| British Columbia | $70,847 |
| Manitoba | $59,391 |
| New Brunswick | $59,151 |
| Nova Scotia | $57,378 |
| Ontario | $55,524 |
| Prince Edward Island | $55,358 |
| Quebec | $66,218 |
| Saskatchewan | $54,371 |
| Yukon | $66,605 |
| Northwest Territories | $79,446 |
| Nunavut | $79,881 |
| Newfoundland and Labrador | $55,508 |
| Ottawa | $47,060 |
What Factors Influence Regional Differences in Average Canadian Salary?
There are several factors leading to the regional differences in the average salaries in Canada:
- Cost of Living: Areas with high cost of living including costs of housing and everyday goods typically offer higher salaries to compensate for these expenses, such as Toronto, Vancouver, and parts of Ontario. Regions with more affordable housing, like parts of Atlantic Canada or rural areas in the Prairies, tend to have lower average salaries.
- Industry Concentration: Some provinces have a stronger presence of high-paying industries, such as finance in Ontario, technology in British Columbia, and oil and gas in Alberta. These sectors tend to offer higher wages, which raises the average salary for workers in those regions.
- Economic Growth: Provinces experiencing rapid economic growth, such as Ontario and British Columbia, may offer higher salaries to attract and retain talent. Economic downturns or slower growth in other provinces, such as Atlantic Canada, can result in lower salaries.
- Education Levels: Provinces with a higher percentage of residents holding advanced degrees or professional certifications often see higher salaries in industries that require specialized knowledge. These provinces have more opportunities for high-paying jobs in sectors like law, finance, and technology.
- Government Policies: Different provinces set different minimum wage rates, which can impact overall salary averages. For instance, Ontario and British Columbia have higher minimum wages compared to provinces like Nova Scotia and Newfoundland and Labrador.
The Industry-Wise Average Salary in Canada
The average salary in Canada depends to a large extent on different industries. Job seekers who come to Canada for opportunities with higher pay should know about the industry-wise average wage. Here is the average Canadian salary of the top industries:
| Industries | Average Annual Salary |
|---|---|
| Mining, Quarrying, Oil and Gas Extraction | $67,800 |
| Professional, Scientific, and Technology | $50,600 |
| Engineering | $50,000 |
| Healthcare | $49,100 |
| Construction | $49,100 |
| Transportation and Warehousing | $49,100 |
| Finance and Insurance | $46,400 |
| Educational Services | $46,400 |
Jobs with High Salary in Canada
If you are taking some jobs, you will earn a higher salary. Here is the list of jobs with a lucrative salary in Canada:
| High-Paying Jobs | Average Annual Salary |
|---|---|
| Cardiologist | $194,160 |
| Anesthesiologist | $248,353 |
| Psychiatrist | $206,251 |
| Physician | $176,346 |
| Surgeon | $193,506 |
| Orthodontist | $144,880 |
| Chief marketing office | $75,560 |
| Software engineering manager | $98,982 |
| Lawyers | $90,000 |
Fastest Growing Industries in Canada 2024
Knowing the sectors that bear the highest growth is important for people searching for new careers. Having a job in an industry that is growing fast means more opportunities for higher salaries and promotions.
Finance and insurance, arts and entertainment, and healthcare are some of the fastest growing industries in Canada, as well as the retail industry. Here are some of the fastest-growing industries in Canada, which can provide useful references for job seekers with expertise and interests.
| Industries | Growth Rate |
|---|---|
| Arts and Recreation | 26.30% |
| Real Estate | 14.60% |
| Administrative and Support | 9.40% |
| Public Administration | 9.30% |
| Finance and Insurance | 9.30% |
| Health Care and Social Assistance | 9.10% |
| Retail | 8.40% |
Industries with a Falling Average Yearly Income in Canada
Generally, the Canadian average income has gone up since 2019 in most sectors. Only the management of companies and enterprises and forestry and timber harvesting sectors did not see an increase in the average pay in 2021, with the management keeping the same and forestry dropping by 8.9%.
The Experience-Wise Average Salary in Canada
In addition, the average salary in Canada depends on the work experience. For fresh graduates with limited working experience, the annual income is below the average. As your experience increases, your skill and ability are improved, so that you can earn a higher salary with bonuses and other compensation, particularly in industries like technology, finance, and healthcare.
The Gender Income Gap
There is a wide gender gap in the average wage in Canada. For full-time workers, the gap reaches 0.90 dollars, meaning women make 90 cents for every dollar men make. For part-time workers, the gap is marginally wider at 0.89 dollars. Part-time women workers make 89 cents for every dollar men make.
Why is Knowing Average Salaries Important?
Knowing the average salary in Canada is very crucial, which can provide a clear understanding of the labor market, economic conditions, and the value of various skills across different sectors. Whether you’re a job seeker aiming for career growth, an employer looking to attract and retain talent, or an investor interested in regional economic trends, salary information is an essential tool for making informed decisions.
By understanding salary data, individuals and businesses can ensure that they are competitive, fair, and equipped to thrive in the Canadian workforce, and it can also help you to better decide whether to take up residence in this country.
Salary Growth is Expected to Continue in 2025
As one of the top-paying countries, Canada has a relatively high salary level. The national average salary in Canada is expected to go up by 3.6% in 2024, and the salary growth is expected to continue in 2025, driven by factors such as labor shortages, industry demands, inflation, and the ongoing shift to remote work.
While salary increases may vary depending on the region and sector, high-demand industries like tech, healthcare, and skilled trades are likely to experience the most significant wage growth. Urban centers with high living costs, such as Toronto, Vancouver, and Montreal, will likely see faster salary growth due to competition for workers and the need to keep up with the cost of living. Understanding these trends will help workers plan their career paths and businesses attract and retain top talent in a competitive labor market.
Cost of Living in Canada
The cost of living is a crucial factor to consider when evaluating salaries in Canada, as it directly impacts how far your income will stretch. For international students, understanding the cost of living in Canada is essential for budgeting and managing expenses while studying abroad, and it will at the same time influence your career choice.
Cost of Studying in Canada for Students
The cost of living in Canada for international students includes accommodation, tuition fees, health care, and daily expenses like food and transportation, and it can vary on the basis of the city, the accommodation, and the lifestyle choices. Here is the average cost of living and studying in Canada:
| Items | Costs (Annually) | |
|---|---|---|
| Tuition Fees | Undergraduate | CAD 10,000-30,000 |
| Graduate(master) | CAD 15,000-65,000 | |
| Graduate(doctor) | CAD 7,000-17,000 | |
| Diploma | CAD 10,000-15,000 | |
| Accomodation | On-Campus Accommodation | CAD 1,9000 |
| Off-Campus Accommodation | CAD 6,600 | |
| Food and Drocery | CAD 9,000 | |
| Transportation | CAD 1,200 | |
| Entertainment | CAD 600 | |
| Utility | CAD 2,000 | |
| Health Care | CAD 600-900 | |
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Conclusion
Understanding the average salary in Canada is essential for making informed career, financial, and life decisions. As salary growth continues to evolve across sectors and regions, it’s crucial to stay updated on these trends and adjust your strategies accordingly. By considering both the cost of living and potential earnings, you can make empowered choices that align with your goals and aspirations in Canada’s diverse and dynamic workforce.
FAQs
The key factors that can influence people’s average salary in Canada includes:
- Location and Region
- Occupation and Industry
- Education and Skills
- Experience and Seniority
- Company size
- Job Benefits and Bonuses
Yes, the average salary in Canada can vary significantly by province or territory, influenced by factors like the local cost of living, industry concentrations, regional economies, and available job opportunities. For example, provinces with more diversified economies like Ontario and British Columbia generally offer higher wages across a range of sectors.
The highest paying sectors in Canada include Oil, Gas, and Energy, Technology and IT, Finance and Banking, Healthcare and Medical, Legal, Engineering, etc. These sectors are typically aligned with industries that have high capital investment, demand specialized skills, or involve significant responsibility, all of which contribute to high salaries.
High income is generally considered $140,000+ annually for an individual in Canada. The top 1% income is typically $250,000+ per year. In higher-cost areas like Toronto or Vancouver, $150,000 or more may be required to maintain a comfortable lifestyle. And in regions with lower costs of living (e.g., some parts of Atlantic Canada), $100,000-$120,000 might be seen as a high income.
Generally speaking, Canada is somewhat more expensive than U.S. in several key areas, though there are exceptions. The expenses of groceries,transportation and some utilities are usually lower in the U.S. Canada can be more expensive in certain areas, especially housing and taxes, it compensates with lower healthcare costs and greater public services.
A good average salary in Canada is generally considered to be around $60,000 to $80,000 annually for individuals. For families, a combined household income of $90,000 to $120,000 is considered to offer financial security and flexibility in most regions of the country. However, earning $100,000 or more may be necessary in cities with a high cost of living, such as Toronto or Vancouver, to maintain a comfortable standard of living.
