What Is a Good Salary in Canada?

Defining a “good” salary in Canada is a personal concept tied to individual financial aspirations and desired lifestyle. What one person considers sufficient, another might find inadequate. Various factors contribute to this perception, including personal debt obligations, family size, and long-term financial objectives.

A good salary provides sufficient disposable income, the money remaining after essential expenses and taxes. This allows for savings, investments, and discretionary spending. Lifestyle choices, such as frequent travel, dining out, or owning luxury items, directly influence the income required for a “good” standard of living. Dependents, like children or elderly family members, also impact financial needs, requiring additional resources.

Key Factors Influencing Salary Levels

Several factors shape an individual’s earning potential across Canada. Work experience, particularly in a specific industry or leadership role, significantly drives salary progression. As professionals gain years in their field and take on greater responsibilities, compensation typically increases.

Educational attainment and specialized qualifications also play a substantial role. Degrees, professional certifications, and targeted training often correlate with higher earning potential, especially in fields requiring expert knowledge. Certain industries, such as technology, finance, and healthcare, generally offer more competitive salaries than sectors like retail or hospitality. This reflects varying demand for specialized skills and economic value.

Job role and responsibilities directly determine pay. Entry-level positions command lower salaries, while mid-level and senior roles with increased complexity and managerial duties come with higher compensation. Geographic location also influences salaries, as economic conditions and demand for skills vary by province and major urban center. The size and type of the employing organization, whether a large corporation or public sector entity, can also affect compensation structures.

Cost of Living Across Canadian Regions

A salary’s actual value is heavily influenced by the cost of living in a Canadian region, as expenses vary widely. Housing typically represents the largest expense, with significant differences between major urban centers and smaller communities. For instance, average monthly rents for a one-bedroom apartment in city centers can be around $1,877 nationally, but much higher in North Vancouver at approximately $2,704, or Toronto at about $2,240. Similarly, the average home price in Canada was $672,784 in July 2025, but in Vancouver, it was $1,197,700 in July 2024, and in Toronto, about $1,431,495 as of May 2025.

Transportation costs also contribute to living expenses. Public transit monthly passes range from approximately $20 in Charlottetown to $156 in Toronto, with Calgary around $112 and Montreal at $94. For car owners, gasoline prices averaged $1.657 per litre across Canada between March and May 2024, though this fluctuates by region. Car insurance premiums vary substantially by province, with Alberta having some of the highest annual premiums at about $3,151, while Saskatchewan is among the lowest at around $1,249.

Utility expenses, encompassing electricity, heating, water, and internet, add to the monthly budget. The average monthly cost for basic utilities for an 85m2 apartment in Canada is around $208, with mobile phone plans costing $64 and internet services at $85. Overall monthly utility costs across Canada average about $389. Groceries also represent a considerable cost, with an average monthly expense for one person ranging from $297 to $400, and a family of four spending approximately $1,227 per month as of 2024.

Average Salary Benchmarks by Profession and Industry

Typical salary ranges for various professions and industries provide a practical benchmark. The average employment income in Canada was approximately $67,282 per year in July 2024, with the median individual income reported at $41,700 in 2022. The median family after-tax income in 2022 was about $60,800, though this figure was impacted by inflation. These national averages serve as a general baseline, but actual earnings depend on specific roles and locations.

In the technology sector, software engineers and developers command competitive salaries, with median annual earnings around $119,000 to $120,668. Entry-level positions start around $87,750, while experienced professionals can earn upwards of $167,750. The broader IT industry also offers strong compensation, with roles like Chief Data Officer and Chief Technology Officer ranging from $190,000 to $265,000 annually.

Healthcare professionals also receive competitive compensation. Registered nurses earn an average of $80,122 to $103,381 per year. Entry-level nurses earn between $60,000 and $70,000, with experienced nurses often exceeding $90,000 annually. In finance, an accountant’s average salary is about $86,500 to $94,486, with entry-level pay starting around $66,250 and experienced professionals reaching $107,000. Senior finance roles, such as Chief Financial Officer, can see salaries between $250,000 and $450,000.

Skilled trades, such as electricians, have average annual salaries around $65,000 to $70,200. Entry-level electricians typically start at approximately $67,000, with experienced workers earning up to $78,936. For elementary teachers, average salaries range from $56,800 to $69,464, with entry-level positions starting around $39,400 and senior teachers earning up to $85,437. Retail store managers show a wide range, averaging around $138,510 nationally, though this can be closer to $80,189 in specific cities like Toronto, with entry-level roles starting at $57,000.