What is the Average Salary in Canada in 2024?: Wages By Provinces, Professions & Sectors

Do you aspire to study and work in Canada? Or to immigrate to Canada from India for better job opportunities? Amidst this we would like to ask if you are aware of the average salary in Canada that you could be assured to earn based on you job and sector?

Worry not if you don’t have an answer as of now, because by the end of this article you would surely be equipped with valuable insights into the average wage in Canada in 2024, focusing on various professions, sectors, and provinces. So, ensure to stay tuned.

What is The Average Salary in Canada in 2024?

Based on the latest findings from the Labour Force Survey (LFS), the average monthly salary in Canada is approximately C$5,404 (equivalent to INR 3,31,612) and the average annual salary was recorded at C$64,850 (approximately INR 39,79,467) as of October 2023.

However, salaries can vary notably between different provinces and territories. For instance, cities such as Toronto, Vancouver, and British Columbia typically offer higher-than-average pay rates.

Factors Influencing Average Salary in Canada

Below mentioned are some extra factors, apart from Canadian work permits, that affect the average pay for both full-time and part-time jobs in the country:

• Age Groups: Different age groups earn different hourly rates. Younger workers typically make 18.23 CAD per hour, while those aged 25 to 54 earn 32.39 CAD.
• Gender: Gender plays a role in determining hourly wages too. Women aged 25-54 earn around 30.47 CAD per hour, while men in the same age group earn approximately 34.26 CAD.
• Profession: Your line of work can greatly influence your pay in Canada. Industries like natural resources, technology, and finance all have their own pay scales.
• Location: Where you work also impacts your pay. For example, in Toronto, the average wage is $70,000, whereas in Montreal, it's slightly lower at $68,000.

Average Wages in Canada by Province

As per the latest statistics on Canadian average salary, the average pay rate in Canada varies across provinces due to differences in economic conditions, industry specialization, and cost of living. Here is a breakdown of the average wages in Canada by province:

Minimum Hourly Salary in Canada by Province

The current federal minimum wage stands at $17.30 per hour, applicable to all businesses under federal regulation.

For overtime hours exceeding 8 in a day or 40 in a week, employees are entitled to one and a half times their regular wage. However, certain exceptions may apply to this rule.

Province wise minimum houly wages in canada are as follows:

Average Salary in Canada by Job Sector

Now that you have learned about average income in Canada by province, let us also note what is the average wage in Canada by employment sectors.

Best-Paying Jobs in Canada

As of 2024, statistics on Canadian Salaries suggest that the best-paying jobs in Canada include positions in healthcare, engineering, finance, and technology. Some of the highest-paying roles with their basic salary in Canada are:

• Surgeons: With an average salary of around $350,000 per year, surgeons are among the highest-paid professionals in Canada. Their earnings can increase with experience and specialization.
• Psychiatrists: Psychiatrists in Canada earn an average salary of around $220,000 per year. Their earnings can vary depending on factors such as location, years of experience, and specialization.
• Dentists: Dentists in Canada earn an average salary of around $140,000 per year, with experienced professionals earning up to $200,000 per year.
• Petroleum Engineers: Petroleum engineers are among the highest-paid engineers in Canada, with average salaries of around $120,000 per year.
• IT Managers: IT managers in Canada earn an average salary of around $100,000 annually, with experienced professionals earning up to $150,000 annually.
• Corporate Treasurers: Corporate treasurers in Canada earn an average salary of around $120,000 per year, with experienced professionals earning up to $180,000 per year.
• Marketing Managers: Marketing managers in Canada earn an average salary of around $80,000 per year, with experienced professionals earning up to $120,000 per year.

Mean Salary in Canada as Per Different Professions

The mean salary in Canada varies across different professions, reflecting the diverse range of industries and occupations in the country.

Understanding the Canadain average salaries in various professions can provide valuable insights into earning potential and career choices. Here, we explore the mean salary for some key professions in Canada.

Average Salary of Engineers in Canada

Engineers in Canada earn an average salary of around $75,000 annually for entry-level positions, with experienced engineers earning up to $100,000 annually. Petroleum engineers are among the highest-paid, with average salaries of around $120,000.

While the most prominent job i.e. average salary of a software engineer in Canada is $99,656. Other engineering disciplines, such as civil, electrical, and mechanical engineering, also offer competitive salaries, ranging from $65,000 to $95,000 per year.

Average Salary of MBA Graduates in Canada

MBA graduates in Canada can expect to earn an average salary of around $85,000 per year, with experienced professionals earning up to $150,000 per year in senior management roles.

Average Salary of Data Scientists in Canada

Data scientists in Canada earn an average salary of around $90,000 annually, with experienced professionals earning up to $130,000 annually.

Average Salary of Biotechnologists in Canada

Biotechnologists in Canada earn an average salary of around $70,000 annually, with experienced professionals earning up to $100,000 annually..

Average Salary of Dentists in Canada

Dentists in Canada earn an average salary of around $140,000 per year, with experienced professionals earning up to $200,000 per year.

Average Salary of Physiotherapists in Canada

Physiotherapists in Canada earn an average salary of around $70,000 annually, with experienced professionals earning up to $90,000 annually.

Average Salary of CA and ACCA in Canada

Chartered Accountants (CA) and Association of Chartered Certified Accountants (ACCA) professionals in Canada earn an average salary of around $75,000 annually, with experienced professionals earning up to $120,000 annually.

Average Salary of Graphic Designers in Canada

Graphic designers in Canada earn an average salary of around $45,000 per year, with experienced professionals earning up to $60,000 per year.

Average Salary of Project Managers in Canada

Project managers in Canada earn an average salary of around $80,000 per year, with experienced professionals earning up to $110,000 per year.

Median Salary vs Mean Salary Canada

The median salary represents the midpoint of all salaries in a profession, while the mean salary is the total income divided by the number of individuals.

In Canada, the highest average salary is approximately C$534,000 (INR 31,189,445) annually, whereas the median salary is around C$112,000 (INR 6,541,606) per year. This means that half the population earns more than C$112,000, while the other half earns less.

#Note: Both median and average salaries serve as indicators of income. A salary exceeding both suggests strong earnings, while falling below indicates potential for improvement.

Average Wages Canada vs India: Salary Comparison

The average salary in Canada is generally higher compared to India due to its stronger economy and higher living costs. As mentioned earlier, professionals such as doctors, engineers, and MBA graduates in Canada can earn competitive salaries, often ranging from C$80,000 to C$150,000 per year or more, depending on experience and specialization.

India: Salaries in India vary significantly across different industries and regions. While some industries, such as IT and finance, offer higher salaries, others may have lower average wage levels. In the IT sector, for example, software engineers in India can earn an average salary of INR 800,000 to INR 2,000,000 per year, depending on their experience and skill set.

The Annual Salary for Immigrants in Canada

The average salary for immigrants in Canada varies depending on several factors such as their occupation, education, work experience, and location. According to a report by Statistics Canada, in 2020, the median employment income of recent immigrants (those who arrived in Canada within the last five years) was $30,100.

However, this varies widely by occupation and education level. For example, immigrants with a university degree had a median employment income of $50,000, while those with a high school diploma had a median employment income of $25,000.

Eligibility Requirements for Obtaining a Work Permit in Canada

What is the eligibility criteria to obtain a Canadian work permit? Are you also searching for it? Well, here is the criteria listed below for you reference:

• Valid passport with a minimum validity of 6 months from the planned arrival date in Canada
• Demonstrated financial means to cover expenses while in Canada
• Completion of medical examinations at accredited healthcare facilities
• Payment of application fees
• Academic certificates verifying educational qualifications
• Documentation of professional qualifications and relevant work experience
• Submission of two recent passport-sized photographs
• Evidence of English proficiency through TOEFL or IELTS scores
• Assurance of departure from Canada upon expiration of the work permit
• Clean criminal record
• Employment only with authorized employers registered with the Canadian government
• Good health status and possession of medical insurance

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