Average Salary in Canada in 2023 : Top Industries, Jobs Etc. (2023)

Most Growing Industries in Canada:

Listed below are industries booming in Canada:

Healthcare:

General medical and surgical hospitals that maintain beds and provide outpatient and pharmacy services make up the country’s healthcare, which is expected to generate $69.2 billion in revenue by 2022. The public sector funds 70% of Canada’s healthcare system, while the private sector funds 30%. Canada’s largest hospitals include Vancouver General Hospital, Rockyview General Hospital, and University of Alberta Hospital.

Commercial Banking:

The Commercial Banking industry in Canada generated $240.1 billion in revenue in the year 2022, and it is expected to rise moderately between 2021 and 2026 as the economy normalizes and recovers from the effects of COVID-19. The major market shareholders in the business are Toronto-Dominion Bank, Royal Bank of Canada, and Canadian Imperial Bank of Commerce.

IT Advisory Services:

The IT Consulting Industry will generate $67.1 billion in revenue in 2022, thanks to the rising demand for cloud-based services, mobile apps, and industry-leading software solutions. Both private and public sector organizations are responsible for designing and managing information technology (IT) systems in this business. IBM Canada Limited is one of the country’s largest market stockholders in the IT Consulting sector.

Chemical and Petroleum Industry:

Growth in domestic oil production and increased demand from downstream industries are expected to drive this industry’s high sales volume for at least the next four years. Gasoline and Petroleum Bulk Stations will generate $202.7 billion in sales in 2022, with Shell Canada Limited, Suncor Energy Inc., and Imperial Oil Limited as the largest market shareholders.

Difference between the Median and the Average Salary

Median salary refers to the income that lies exactly in the middle of the salaries in a profession. On the other hand, the average salary is the mathematical mean of all the income earned by the number of individuals for a particular position. The maximum average salary in Canada is around 534,000 CAD or INR 31189445 annually. The median salary is approximately 112,000 CAD or INR 6541606 per year, which means 50% of the population is earning more and the other half percent of the population is making less than 112,000 CAD.

Both median and the average are salary indicators. If your salary is higher than both, it indicates that you are earning well. And if it falls below the mark, there is room for improvement.

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The Salary Range in Canada

The salary in Canada ranges between 30,200 CAD or INR 1763897 to an average salary of 534,000 CAD or INR 31189445.

Salary with Respect to Experience

• You get a 32% hike in wages when you are working for 2-5 years.
• A 36% hike in salary for working 5-10 years.
• A 21% raise in salary for an experience of 10-15 years.
• 14% hike for 15-20 years, and
• 9% rise for 20+ years.

Rise of Salary with Respect to Education Level

• An employee gets a 17% hike in salary after completing High School and a Certificate or Diploma course.
• A 24% hike for bachelor’s degrees.
• A 29% rise after completing a master’s degree.
• And, a 23% rise for Ph.D. holders.

Salary comparison by Gender: Men in Canada earn 5% more than females on average in every career field.

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Highest Average Annual Salary in Canada: Job Sectors

The average salary in Canada, in 2020 is recorded to be CAD 1,050.59 or INR 61362 weekly and CAD 54,630 or INR 3190785 yearly. This year, the annual average salary has a 4% hike than the previous year, representing an increased growth rate.

Here is a list of increased salary in Canada in 2020,

• Accommodation and Food Services – $22,877.92 or INR 1728837 (+6.4%)
• Administration and Support – $47,369.92 or INR 3579722 (+9.4%)
• Arts, Entertainment and Recreation – $40,241.76 or INR 3041052 (+26.3%)
• Construction – $68,374.28 or INR 5167091 (+3.2%)
• Education – $58,343.48 or INR 4409038 (+6.5%)
• Finance and Insurance – $76,843 or INR 5807793 (+9.1%)
• Forestry and Logging – $58,739.20 or INR 4439493 (-8.9%)
• Health Care and Social Assistance – $52,888.68 or INR 3997275 (+8.4%)
• Information and Culture Industries – $71,634 or INR 5414097 (+4.3%)
• Management of Companies and Enterprises – $74,560.72 or INR 5635244 (+0.0%)
• Manufacturing – $59,250,36 or INR 447814220 (+1.6%)
• Mining, Oil and Gas Extraction – $113,506.12 or INR 8578783 (+3.1%)
• Professional, Scientific and Technical Services – $76,077.56 or INR 5749899 (+2.0%)
• Public Administration – $75,799.88 or INR 5728888 (+9.3%)
• Real Estate (Rental/Leasing) – $58,623.76 or INR 4430726 (+14.6%)
• Retail – $34,503.04 or INR 2607736 (+8.0%)
• Transportation and Warehousing – $61,011.08 or INR 4611211 (+6.7%)
• Utilities – $101,531.04 or INR 7673712 (+1.6%)
• Wholesale Trade – $67,456.48 or INR 5098324 (+2.8%)

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Pursue Higher Education in Canada to Get the Best Employment Opportunities

Canada offers easy immigration policies and programs like SDS (Student Direct Stream) and PGWP (Post-Graduation Work Permit), motivating international students to look for work opportunities after the completion of their courses. The job market is robust and dynamic and offers employment opportunities with high salary packages. Faculty members with international repute, globally ranked research centers, and world-class educational facilities have made Canada one of the most preferred destinations for overseas education. To understand this in detail, let us go through the top reasons why Canada is an ideal destination for higher education and work opportunities:

Top universities

Canada is home to top 100 universities in the world. Some of the notable universities, like the University of Toronto, the University of British Columbia, and the University of Alberta, attract students from all over the world. These universities offer valuable degrees to international students that are recognized by multinationals and conglomerates.

Part-time job opportunities

Students at Canadian universities are allowed to enroll in part-time job opportunities. They can work off-campus and on-campus for 20 hours a week, and during the weekend or holidays, they can work for 40 hours. This way, international students from Canadian universities get the required corporate exposure and are also able to manage their expenses.

Canada is a developed economy

Canada is a developed country. The opportunities are immense, and international students studying at Canadian universities always find the best opportunities and salary packages. It is one of the most popular economies in the world and has a low unemployment rate.

Research-based degrees

The Canadian government helps research scholars with opportunities and funding during coursework. Canadian research work holds global rank, and students are easily placed in the top multinationals with an impressive salary package.

Post-study work permit

Canada is a welcoming country that believes in retaining individuals with talent and skills. Through programs like PGWP and SDS, international students are granted work permits after the completion of a course or degree. This has been one of the reasons why Canada is chosen by meritorious students from all over the world to study.

Important Resources about Canada:

Eligibility for a work permit in Canada

1. A passport with a validity of more than 6 months from the planned date of arrival in Canada.

2. Proof of having adequate financial resources to cover candidates’ expenses during their stay in Canada.

3. Medical examinations are required to be done at registered hospitals.

4. Application fee.

5. Educational qualification certificates.

6. Proof of professional qualifications, including work experience.

7. Two recent passport-sized photographs.

8. TOEFL or IELTS examination scores.

9. Applicants need to offer evidence that they will leave Canada once the work permit has expired.

10. No past criminal record.

11. Not working under any unauthorized or illegal employer that is not registered with the Canadian government.

12. Must be in good health and have medical insurance.

More Resources to Read:

MBA in Canada with Study Abroad program upGrad

upGrad Study Abroad brings you to study MBA in University of Canada West, one of the best universities in Canada with affordable expenses. It allows you a hybrid program in Canada and India cutting the cost of course to almost 1/5th. You can complete your online certification with IMT Ghaziabad and then apply to UCW in Vancouver, Canada, if you match the eligibility criteria.. You can furthermore pursue your dream of studying abroad.

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• SOP vs Personal Statement
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What is the average salary for a software engineer in Canada?

The average software engineer income is $94,309 per year ($48.36 per hour) in Canada. Entry-level jobs start at $78,000 per year, with the highest-paid individuals earning $135,086 per year.

What is the average salary per hour in Canada?

In Canada, the average yearly salary is CAD 39,127, or CAD 20.07 per hour.
Entry-level jobs start at CAD 34,125 per year, with the highest-paid individuals earning up to CAD 72,249 per year.

What is eligibility for a Post Study Work Permit in Canada?

You must have completed a full-time course in Canada that lasted at least eight months. Within 180 days of finishing your degree, you must apply for a work permit. You must have formal confirmation from the college/university that this is true—a transcript or an official letter. When applying for the PGWP, you must have a valid student visa. You must have completed a full-time course in Canada that lasted at least eight months.

What is the average salary of mechanical engineers in Canada?

The average salary of a mechanical engineer in Canada is approx. $55,000 or INR 3212781per annum. It is generally $45,000 or 2628639 per year for entry-level employees, and for experienced workers, it can be as high as $78,000 per year.

How much is the average salary after MS in Canada?

The average salary after MS in Canada is approximately $68,000 or INR 3972166 annually.

How much is the average salary in Canada after an MS in computer science?

The average salary in Canada after MS in computer science is nearly CAD 62,615 (INR 36 lakh) per year or CAD 32.11 (INR 1,869) per hour.