Everyone loves a good job, especially a well-paying one.
Whether you’re coming in from abroad, or are a local looking for financial improvement, it’s always important to research and discover the cost of living in Canada and look for jobs that can afford it. Certain jobs pay better than others, so looking for several factors is best.
In this article, we’ll cover factors such as salary expectations, and living costs, and how such factors can be different for each province.
What Is Considered a Good Salary in Canada?
Now you might be thinking, what is a good salary in Canada? Let’s rephrase that. How much money do you need to live comfortably?
Generally speaking, costs that cover housing, commuting, and extra spending with a reasonable amount of money to spare are considered a good salary. Considering living costs, it’s different for each province. Monthly expenses in Canada with rent can vary:
- Ontario: Expenses in Canada for single person with rent can reach up to CAD 4,000
- British Columbia: Up there with Ontario, can even exceed CAD 4,000
- Alberta: A bit more balanced, with rents generally staying under CAD 3,000
With this in mind, it might be a good idea to set your expectations to reach an annual income of roughly CAD 75,000 to 100,000 to cover all expenses and live comfortably. Now, with data from the National Statistical Office, let’s see some of the best-paying jobs in Canada that can provide this:
- Healthcare: Depending on whether you’re a nurse or a specialized physician, annual income can reach CAD 80,000 to 250,000 respectively
- Education: Teachers earn around CAD 85,000 and more, depending on the province
- Finance: People working in the financial sector can see salaries starting from CAD 75,000 and upwards
Average Salary Across Different Provinces
Wage distribution in Canada can vary from province to province, which is why it’s important to compare the average salary across provinces. Let’s have a look at some numbers, according to the Government of Canada Job Bank:
| Province | Major City | Average Salary (CAD) |
| British Columbia | Vancouver | 90,000 |
| Alberta | Calgary | 95,000 |
| Ontario | Toronto | 100,000 |
| Quebec | Montreal | 75,000 |
| Nova Scotia | Halifax | 65,000 |
| Manitoba | Winnipeg | 70,000 |
| Saskatchewan | Saskatoon | 75,000 |
| Newfoundland | St. John’s | 65,000 |
| Prince Edward Island | Charlottetown | 60,000 |
As you can see, better earning positions are found in provinces like Ontario, British Columbia, and Alberta. What’s important to understand is that each province differs from another in terms of local industry.
British Columbia, for example, focuses on sectors such as technology and film, while Manitoba primarily relies on agriculture and the manufacturing industry. This explains the wide gap between the wage distribution in Canada.
The demand for skilled labor is also another factor. Ontario’s key industries include finance and technology, requiring specializations in each to justify the high wage. This is why, when we compare Newfoundland which mainly deals with fishing and the oil industry to Ontario, it’s easy to see why earnings are lower in one, and higher in the other.
What Jobs Offer the Best Salaries?
If you’re on the fence about which jobs pay the most, maybe we can help. Below are the best high paying jobs in Canada:
- Lawyer: Lawyers are among the better-paying jobs in any country, and in Canada, annual salaries can be around CAD 110,000
- Chief financial officer: The finance sector is turning more and more profitable, and chief financial officers can rake in annual payouts above CAD 200,000
- Surgeon: Surgeons are vital to any healthcare industry, if you plan to specialize in this field, you’re looking at a comfy salary in the ballpark of CAD 370,000
If you’re a student, don’t worry, we got you covered too! You can find offerings for jobs while studying, such as:
- Data analyst: Great analytical skills are always appreciated, with an expected income starting at around CAD 60,000
- Product Manager Intern: Perfect for students with a taste for business, with salaries ranging from CAD 60,000 to 90,000
How Much Money Do You Need to Live Comfortably in Canada?
Depending on which province or city you choose to live in, it can be very expensive to cover necessities. Average costs for expenses such as transportation, food, and healthcare can reach upwards of CAD 1,200 monthly. With rent, that number can balloon up to CAD 2,800. It’s no easy feat to balance all of this, but with a good job and a little luck cashing in online casino bonuses, you might be set for a comfortable living.
Cost of Living by City and Province
Rent, groceries, and utilities all vary across cities and provinces. You might find some places cheaper than others. Let’s break down and compare the monthly expenses of some costly cities to more affordable alternatives:
| Places | |||
| Expensive | Rent | Groceries | Utilities |
| Vancouver, BC | 2,500-3000 | 400-600 | 200-300 |
| Toronto, ON | 2,400-2,800 | 300-550 | 150-250 |
| Calgary, AB | 1,800-2,200 | 350-500 | 150-250 |
| Affordable | |||
| Halifax, NS | 1,500-1,800 | 300-450 | 120-200 |
| Winnipeg, MB | 1,200-1,500 | 250-400 | 150-200 |
| Saskatoon, SK | 1,300-1600 | 300-450 | 150-200 |
Provinces such as Saskatchewan or Manitoba are much more easy to afford and ensure a good life compared to British Columbia or Ontario. It should also be pointed out that Vancouver or Toronto are more expensive because of high housing demands and a busy job market. Utilities tend to stay roughly the same no matter where you choose to go.
Salary Distribution in Canada
Wage distribution Canada is defined by provincial industries and the overall cost of living.
Cities like Toronto or Vancouver offer larger salaries compared to smaller or rural areas. As mentioned previously, Toronto has an average salary of around CAD100,000, compared to cities like Halifax, which only have around CAD 65,000.
Furthermore, some industries pay more than others. Sectors like healthcare, technology, and resource industries offer significantly higher salaries, ranging up to hundreds of Canadian dollars.
Geography also plays a good role in determining salary distribution in Canada, albeit to a detriment. The west coast of Canada, due to lucrative industries like gas or oil, can manage higher paying jobs than the east coast, which primarily focuses on agriculture and fisheries.
Another disparity influencing the pay gap is the demand for skilled labor. Tech-heavy industries, for example, tend to demand skilled workers in high-paying jobs than agriculture-focused provinces. Understanding these differences is crucial for making informed decisions about jobs and living arrangements.
National Income Distribution: Low, Median, and High Earners
Income brackets categorize workers into groups based on their annual income. We can separate them into low, median, and high earners.
- Low earners: These include part-time workers, or entry level positions who earn up to CAD 40,000, just barely enough to cover living expenses.
- Median earners: Can be further divided into:
- Lower-middle class: with income from CAD 40,000-60,000
- Middle class: with income from CAD 60,000 to 100,000
- Upper-middle class: with income from CAD 100,000-150,000
- High Earners: Mostly executives, successful entrepreneurs or surgeons
Most Canadians fall into the middle class. People enjoy stable employment and homes that the median salary in Canada provides.
How Does Your Salary Compare?
If all this information is to your liking, then why not give it a go?
Improving your financial stability is never a bad idea. National and provincial averages are always readily accessible for comparison. It may be a scary step, but it may just pay off! For example, there are many wonderful tools for assessing the incomes of other households across provinces or cities that you can easily access and use, just give it a search.
Many tools can greatly help you pick out your future home in Canada, marking your next big step into financial success.
Conclusion
To summarize, it is important to know that some places pay better than others. Income varies on the demand for skilled labor, and the presence of industries across every province.
More urban centers offer higher salaries, but also more expensive costs of living. Rural places are not so hard to create a comfortable life in, but also net lower incomes. This is important to remember if you choose to make Canada your place of work and living.
If your current salary doesn’t meet your needs, why not a career shift? Why not take a chance at better compensation and growth? Different industries pay differently, so why not make the choice more suited to a more comfortable life?
It’s never a bad idea to secure a good future, and a comfortable life, and Canada just might be the place for that.
