What is a Good Salary in Canada?

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What is a Good Salary in Canada?

“Good Salary in Canada” is a very subjective term and its definition varies from place to place, job to job and from one person to another. Depending on where you live, $50,000 may be above average in one place and below the poverty line in another.However, a good salary, in general, means that the employee leads a decent lifestyle and is highly satisfied at work.

In Canada, there are approximately thirteen different job segments, dissected on the basis of location, culture and/or the cost of living. The salary offered to an employee depends upon his/her educational qualifications, prior work experience, job profile, work location, industry, age, etc. In a few cases, it also changes depending upon the college or university of degree, previous achievements at work and the aspiring candidate’s social and professional network.

A Canadian earns an average salary of CAD 3,700 per month, according to the World Cost of Living spreadsheet. Thus, the average good salary in Canada is USD 32,640 per year that is roughly USD 17 per hour.Beginning employees might only earn half of the average Canadian salary, but experienced workers might earn three times as much or even more.


To clarify the facts, a fresher can expect a salary of USD 23,400 per year and experienced employees can expect a salary of USD 62,985 per year.For recent college graduates or employees with less work experience, finding a job is essential.They can expect better salaries once they have gained some work experience, and then the sky is the limit.

 
The profession of "Specialist Physician" is the highest paid in Canada, according to records.Taking a 40-hour workweek into account, they earn approximately USD 85 per hour.

What is the average salary in Canada?

Among full-time workers in Canada, the average annual salary is $54,630, or $1050.59 per week. Salary growth increased by 4% from last year. In recent years, Canadians have earned more than in the past. 

There is a high standard of living and better career opportunities available in Canada for immigrants from all over the world. The country offers attractive pay scales regardless of skill-sets and occupations in which a person has worked.It is important to know what industries have seen the most growth in recent years if you are looking for a job in Canada. In these industries, salaries have grown by 8% - 26% compared to 4% on a national scale. 

What is the average salary in each Canadian province?

Nationally, salaries have increased, but not across all provinces and territories. Alberta, British Columbia, Ontario, and Quebec remain traditionally strong provinces where wages are high. 

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Following are some of the highest paid jobs in Canada right now : (Figures for average annual salaries)
  • Specialist physicians – $183,600
  • Dentist – $149,760
  • Engineers – $130,520
  • Professors or lecturers in University – $120,848
  • Managers in public admin – $117,000
  • Geoscientists and oceanographers – $115,440
  • Government officials – $115,336
  • Police officers – $112,944

If we look at the scenario geographically, Canada is a huge country and can be viewed as separate provinces which further has rural and urban areas. The “salary” to the “quality of life” ratio depends majorly on the area of work, the area of residence and also the family size.

For someone making more than the Canadian national average and living in cities other than Toronto, Montreal, and Vancouver, they shall be able to enjoy a decent lifestyle. However, for someone earning just the average and residing in the posh areas of Canada, life is definitely going to be a struggle. In the less developed provinces in the North or far East of Canada, a per annum salary of USD 50,000 shall be good for a small family. Moving towards the West, USD 80,000 shall be needed for a one-child family’s annual sustenance.

Following is a list of the average per annum earrings for various provinces of Canada :

  • Alberta – $59,384
  • New Foundland and Labrador – $53,820
  • Saskatchewan – $52,728
  • Ontario – $52,260
  • British Columbia – $49,244
  • Manitoba – $47,632
  • Quebec – $47,320
  • New Brunswick – $46,644
  • Nova Scotia – $45,292
  • Prince Edward Island – $42,380

The above statistics are true and reliable, but a good salary depends on a large number of factors.

Let us have a look at a few major ones below :

  • Housing: Accommodation prices and sales tax are different in different Provinces of Canada and this undoubtedly is a prominent factor. For instance, in Alberta, the sales tax is 5% while in Nova Scotia it is 14%
  • Lifestyle: A lavish lifestyle comes at an additional cost as compared to a comfortable lifestyle. A good salary is sufficient for a comfortable lifestyle but a higher salary is needed to enjoy a lavish lifestyle and fulfill the dreams.
  • Taxes: Not only income but income tax percentage is also different in the various different Canadian Provinces. This can be a major deciding factor for your location and your lifestyle.

The above list is not an exhaustive list and there are many other factors that as well. On average, an individual can survive with an annual income of USD 40,000 in Canada. These statistics may increase with the employee’s goals and aspirations.

With Canada being one of the most sought-after countries for immigration, irrespective of all parameters like your academic profile, work experience or lifestyle, you are sure to enjoy a better lifestyle in Canada than in your own home country. At Round World Immigration, we have been fulfilling the Canadian Permanent Residency dreams of many aspirants. For any assistance in Migrating to Canada for education or work, please fill the free assessment form on our website and our experienced staff will guide you for the best!

 

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