What are the Highest Paying Jobs in Canada?April 04, 2023
Trying to figure out what career field you want to enter can be a very difficult decision. While there are many factors in play with this decision, one of the most thought about is compensation. How much money will you make in this career? Well, this is important because you have to consider what kind of lifestyle you want to live and, in order to afford that lifestyle, how much money would you need to make? Let’s take a look at some of the best paying jobs in Canada.
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Top 10 Highest Paying Jobs
When we look at some of the highest paying jobs there are actually quite a few. Here are 10 that can earn you a lot of money. Many of these career opportunities do require a post secondary education though.
In Canada, the average salary for a cardiologist is $141 per hour or $280,591 per year. In order to become a cardiologist, you must specialize in this field. Years of medical school to get a medical degree are required as well as four to five years as a resident cardiologist.
Medical doctors who specialize in anesthesiology need to complete medical school as well as 5 years of residency training in this field. In Canada, the average salary of anesthesiologists is $358,908 per year. Not only do you need to complete medical school, but a residency of 5 years in this field is also required.
In order to be a psychiatrist and become one of many medical specialists in mental health you need to complete medical school and complete residency training. The average yearly salary for this medical specialty is $298,065.
As an orthodontist, you are required to complete dental school as well as obtain a specialty license. You also need to register with the province/territory that you will be practicing. As an orthodontist, you are essentially a dentist that treats teeth that are unaligned. The average yearly salary is $209,373 per year.
As a doctor, if you choose surgery as your specialty, after medical school you need 4 to 5 years of residency as well as 2 years of studying a surgical specialty. The average yearly salary for this position is $279,643.
As a physician, you have your choice of environments where you want to practice. You can work as family physicians or at a hospital, even a specialized clinic. To become a physician you must complete a residency program once you have completed medical school. The average yearly salary for a physician in Canada is $254,847.
Becoming a pharmacist is another way to make a higher salary in Canada. Pharmacists make an average of around $105,088 per year. In order to become a pharmacist you must get a degree in pharmacy and train under another pharmacist. Once you have done that you need to register in your province or territory that you are going to be working in.
Director of Information Technology
This position pays roughly $62.90 per hour or around $117,890 per year. In this position you oversee the company’s IT operations. You are not only to ensure that everything runs smoothly on the IT side, but you also have to manage others in the department as well. Most in this position have a Computer Science Degree but you can also have a Degree in a related field as well.
In Canada a financial analyst can make as much as $120,000 per year. This depends on where you are employed as well as your education. This job requires you to look through financial data and spot patterns that can help a company to increase their revenue. The minimum education required is a bachelor’s degree in a related field.
Business Intelligence Analyst
The average salaries for business intelligence analysts range anywhere from $94,000 to $140,000 per year. This job involves analyzing marketing strategies and using data tools to monitor customers, current and potential.
Jobs for Students
If you are a student and haven’t finished your education, then finding a higher paying job could be a bit more difficult. That being said, there are still many ways to work part time and make some extra money.
As a bartender/server, you usually start by making minimum wage but you can’t forget about the tips. On top of your paychecks you can also make good tips. This can depend on where you work though, which shifts you take and a whole bunch of other factors. That being said, this is a great option if you are in school and looking for a part time job.
Like the other jobs on this list, being a barista looks great on your resume. While it also tends to start at minimum wage, you learn a lot of great skills and it can be very flexible around a school schedule. This is because coffee shops often tend to hold long hours giving a wider variety of shift options.
A rideshare driver can also make somewhere around $20 per hour. With this job, you can choose the rides you want to pick up and it works well around a school schedule. You have more flexibility in working as much or as little as you want to.
In Canada, on average tutors make around $20 an hour. This can be a great choice because it can be flexible around your schedule as you can book appointments as you like. There is a bit more flexibility than working a traditional part time job.
Dog walkers in Canada normally make somewhere around $16 per hour. This allows you to walk as many dogs as you choose while picking the days you are able. Some dog owners may require consistent dog walkers while others are more flexible. It really just depends on what you are looking for.
High Paying Jobs for Immigrants
As an immigrant in Canada, you have plenty of options for high paying jobs. You are eligible for any job you choose but there are certain fields that require in demand skills. Looking for these job openings and meeting their job qualifications can be a great way to find higher paying jobs in Canada. This doesn’t just apply to those immigrating from other countries though, it applies to all job seekers.
Engineering Project Manager
In Canada, there is a high demand for Engineering Project Managers. This person is needed to run a team as well as assess and manage all day to day operations. That being said, a degree is required. You would need a Bachelor’s Degree in Engineering, work experience as well as a regional license. The average annual salary for this position is $89,887.
Another occupation that is in high demand in Canada is Nursing. You can come to Canada to be a nurse if you are trained, you just have to complete an application with the National Nursing Assessment Service. After that you can apply for a license in the province you will be practicing. You can get a license as either a Registered Nurse (RN), Licensed Practical Nurse (LPN) or a Registered Psychiatric Nurse (RPN). The average annual salary is $72, 874.
Many of the trades in Canada are always in high demand. One of the highest paying jobs is welding. The average salary is $63,210 per year. To work as a welder you are required to have a high school diploma, take a three year apprenticeship program and some companies may require additional work experience as well as other specialized skills.
Human resources managers are also high in demand in Canada. They are in charge of maintaining company policies, hiring staff as well as many other responsibilities. The average annual salary for this position is $88,353. The required education is a Bachelor’s Degree in a relevant field as well as work experience.
Fun Jobs in Canada the Pay Well
Funny enough, there are actually quite a few fun jobs in Canada that pay well. It really is difficult to name them all, but we picked three.
This is a job that is actually quite popular. You can make up to $120,000 per year and the position requires you to screen candidates for specific positions. The great thing about this job is that there are work from home opportunities as well as in person positions.
Office jobs aren’t for everyone. There are plenty of diverse positions in the construction industry and they pay quite well. Depending on the position you choose, you can make up to $110,000 per year. Companies in this industry are always looking for skilled workers and they can have a thriving work environment. Depending on your personal interest there may be a construction job that you can explore. It’s also important to keep in mind that there is lots of room to move into management positions in this industry as well.
In the security world, there are plenty of jobs that actually pay good money. Depending on where you work you can make upwards of $150,000 per year. Per year, security professionals on average make around $100,000. That being said, you do have to pass some tests and take training in order to enter this field of work.
Truck drivers are another professional that also pays quite well in Canada. Truck drivers are often in demand and you can earn up to $112,000 per year. If driving all day is something you like to do, this could be the career path for you.
Some Jobs that Pay over $300,000
In Canada, there are actually quite a few jobs that allow you to make over $300,000 per year. While a lot of these positions are in the medical field, let’s go over a few that aren’t.
The salary for Chief Executive Officer’s in Canada actually has a broad range. On average, the general salary is only $150,000 per year. That being said, it is doable for a CEO to make well over $300,000. It really depends on the company.
The average salary of a Chief Financial Officer in Canada can go as high as $394,000 or higher depending on the financials of the company. Having the top financial position in the company usually means you have one of the highest salaries. It is relative to the company’s income though.
While this job is not a physician position, it is part of the healthcare industry. In this position you are a scientist that identifies and treats infectious diseases. A lot of schooling is required for this job and the average income is about $300,000 per year. If you do pursue more education, with a PHD your income could be much higher. It can even get as high as $1 million or more per year.
Some Jobs that Pay over $100,000
A lot of the jobs that we listed in the top 10 were high paying jobs that averaged over $100,000 per year. Here are a few that didn’t quite make that list.
Full Stack Developer
Full stack developers work on both the front end and back end of a website or app development. While you actually don’t need school for this job, a Bachelors in Computer Science can be very helpful for looking for a job. Experience is the key for this position: computer programming and anything else relative to the IT industry will also enhance your skills.
Chief Marketing Officer
Just like it sounds, this position is for the executive in charge of marketing. The main purpose of this job is developing marketing strategies to increase the company’s revenue. The annual salary for this position is around $140,000 per year.
Highest Paying Job in Canada
While we have gone over a bunch of the highest paying jobs in Canada, no matter where you live, the profession that pays the most is healthcare, specifically being a physician. Whether you live in Alberta or Toronto, physicians are the highest paid. Some medical specialists make more than others, though. There are other jobs that come close in salary though, where you can still make good money.
What is Considered a Good Salary in Canada?
This is a bit of a difficult question to answer. While the national average for a good salary in Canada is $55,000 per year. It really depends on where you live. Some places like Toronto or Vancouver have a much higher cost of living than those in places that are more rural.