Average Salary in Canada
Examining the median income can provide valuable insights into potential earnings. As reported by Statistics Canada, the median income in Canada reached CAD 68,400 in 2021. In comparison, the US Census indicated that the median income in the United States for the same year was USD 70,784. Furthermore, the average salary in Canada for a full-time employee stands at $63,013, which translates to approximately $1,211 per week. This figure represents a 4% increase in salary growth compared to the previous year.
Canada has consistently been regarded as a premier destination for international applicants, attributed to its outstanding education system, universal healthcare, and promising career prospects. The nation is poised to present an even greater array of high-quality job opportunities across multiple sectors, establishing it as an optimal location for applicants to launch their professional journeys.
Average Salaries in Canada Based on Job Roles
The Canadian job market is anticipated to expand in various significant sectors by 2025. Average salaries within these sectors encompass areas such as healthcare, technology, and education. To gain insight into this, let us examine the detailed breakdown of average salaries in Canada along with the leading job opportunities available.
What is the Average Salary across Canadian provinces?
While the national average salary in Canada per month has seen an increase, the compensation offered varies significantly among provinces and territories. Each province and territory in Canada has its own average annual salary, which can fluctuate over time. Based on the latest Canada NOC List, average wages tend to be higher in the traditionally favored provinces of Alberta, British Columbia, Ontario, and Quebec.
The table below presents the average salary for each Canadian province and territory.
Which Sectors have Experienced the most Significant Growth in Canada?
If you are seeking employment opportunities in Canada, it is essential to be aware of the industries that have shown the highest growth in recent years. As of 2024, the following sectors are currently in demand in Canada.
Wholesale
Retail
Transportation and warehousing
Finance and insurance
Health care and social assistance
Real estate and rental and leasing
Professional, scientific, and technical services
Agriculture and forestry
Mining and oil and gas extraction
Average Income by Age Group
When analyzing the annual income of Canadians, it is important to recognize that factors beyond geographical location play a significant role. Age is a crucial determinant of income levels. Typically, individuals tend to earn higher incomes as they age, up until they reach retirement age. With this understanding, we will examine the average annual income categorized by different age groups.
Highest-paying jobs in Canada
The sectors in Canada that offer the highest salaries include energy and natural resources, finance and insurance, as well as scientific and technical services.
Mining, quarrying, and oil and gas extraction: $117,215
Utilities: $103,750
Professional, scientific, and technical services: $84,921
Information and cultural industries: $81,068
Finance and insurance: $80,645
Management of companies and enterprises: $80,149
Public administration: $78,104
Living in Canada is characterized by high expenses, regardless of the province. However, certain provinces offer a more affordable lifestyle than others. Additionally, the average annual income in Canada is influenced by geographic location. It is essential to consider both the average income and the cost of living to gain a clearer understanding of the financial landscape and to determine which province may be the most suitable for residence.
Canada is positioned 8th among countries with high salaries, yet various factors such as taxation and living expenses affect this ranking. The progressive tax system results in varying rates across provinces, necessitating a thorough understanding of local tax regulations. Given that salary data can fluctuate, it is prudent to seek guidance from professionals for the most accurate information. For job seekers and employers alike, comprehending the average salary in Canada per month is vital in navigating the dynamic job market.
Go-Global Immigration Services can assist you in understanding the average salary in Canada by province and sector and will help you choose the province or territory for your better perspective of life.
