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Currently, the Canadian job market is flourishing and can be lucrative if you’ve chosen a good career. In fact, most of the jobs on our list pay over $300,000 per year. Having a high-paying job gives you a lot of benefits like paying less on personal loans when you’re looking to invest some of that money you’re making. We’ve created this list so you can identify what the highest paying jobs so you can see if they’re viable for you. Bringing in as much money during your earning years will allow you to plan your future.
With technology the way it is, jobs in demand are always changing. There are some jobs that used to be high paying but are now replaced with robots. However, this has allowed those in robotics to make a lot of money creating this technology that’s saving companies billions. It’s forecasted that over the next 5-10 years, there will be a lot of big earning opportunities in Canada due to skill shortages. Statistics Canada reported at the end of 2021 that there were record highs of available job openings.
IT was the fastest growing career option starting in 2018 and has grown exponentially into 2023 due to the growing need for technology. In particular, those who can program and develop are high in demand. Canada is looking to position themselves on a global scale for the technology boom and has started to use technologies like AI, Analytics, Security, and Cloud services. Companies like Google and Facebook have delivery centers in Canada and the tech sector of Canada earned the “fastest growing industry in the country.” Technology is undoubtably one of the highest paying jobs available in Canada. Toronto, Ontario in particular has beat out New York City to be the technology hub of North America in recent years.
| Provinces |
Job Vacancy Rate |
Change |
Unfilled Jobs Available |
|---|---|---|---|
| Quebec |
4.10% |
0.10% |
117,700 |
| British Columbia |
3.70% |
|
67,100 |
| Ontario |
3.30% |
0.10% |
167,900 |
| New Brunswick |
2.70% |
|
6,300 |
| Manitoba |
2.60% |
|
11,300 |
| Nova Scotia |
2.60% |
0.10% |
7,900 |
| Alberta |
2.60% |
0.10% |
41,800 |
| Saskatchewan |
2.00% |
|
6.900 |
| Prince Edward Island |
1.50% |
|
700 |
| Newfoundland and Labrador |
1.30% |
-0.10% |
2,100 |
Having a great yearly salary not only gives you advantages for the present moment, it also allows you to plan for your future. If you’re looking for a way to pay off mortgages quickly with the ambition of enjoying your golden years in style, here is our list of the highest paying jobs available in Canada.
Let’s have a look:
1. Senior Software Engineer
As part of the technological boom in Canada, there’s a huge need for software engineers in the provinces of Alberta, British Columbia, and Ontario namely. You can expect to make a median of $122,050 anually with the potential to make up to $172,000. When it comes to high paying jobs, this is a career that’s more attainable than others. You don’t need the usual graduation degree to start developing. Most companies are more interested in proven skills. It’s always good to have a traditional degree but with such high demand, many companies may overlook this for the skills you have.
It’s possible to complete a grad program that takes up to four years. You can also get a masters or doctorate in the field. Most new software engineers in Canada can expect to start at $80,000. To become a senior software engineer, you need to be in the field for about five years. You’ll always be learning and gaining new skills due to the ever-changing nature of the industry.
Each province has their own yearly salary offered with Edmonton, Alberta offering the top salaries at $129, 500 followed by Toronto with 128,000. Provinces that cost less to live in also pay less. Regina offers an average of $100,000 per year and Halifax offers $90,000.
2. Actuarial manager
For those who are good at numbers and analyzing, you may want to consider going into actuarial sciences. Your job is to analyze risks and the consequences of those risks. The job may also entail managing budgets, project prioritization, and progress analyzation. Usually, the high paying jobs come when you land in a management role for a large corporation.
It takes quite a long time to get into a management role and you’ll have to get your bachelor’s degree before getting into the field. You will likely have to start as an actuary or an analyst to get into a coveted management position. Many large companies in Canada are looking for actuarial managers so it’s a viable career and top managers in the field make well over $200,000 annually.
3. Chief Operations Officer (CEO)
Being a CEO is a demanding job and not meant for everyone. However, if you take this path, you can stand to make over $180,000 per year. There are extra perks involved in the job like paid holidays and bonus potential. You have the choice of the career path when it comes to becoming a CEO. It means overseeing a corporation usually but you will have a COO and executive assistant to help you successfully run a large company. It can take years to get this role and you’ll likely have to stay with one company for quite some time.
4. Cyber security engineer
This career choice is one of the highest in demand as security online has become a major concern. As a Cyber security engineer in Canada, you can make nearly $150,000 annually. You’ll be performing security-related tasks to protect the companies’ online assets. This includes protecting devices and networks. The job is demanding and you’ll often be on-call.
Cyber security engineers in Canada are generally young millennials and due to the high demand, you may not even need a college degree if you have proven skills. If you’re looking to get the highest pay for the job, you’ll want to have certification and experience.
5. Chief Information Officer
A Chief Information Officer (CIO) can stand to make up to $160,000 annually according to Payscale with the potential of making close to $200,000. Your responsibilities include overseeing technologies and the process. As digital becomes an important aspect to any company, many businesses are hunting to find the top CIO’s in Canada. With such a huge demand, you’ll have no problem finding a job but you’ll likely have to stay at a company for many years. As your experience grows, you’ll make more. If you already have many years of experience, this is a great time to see what companies are willing to offer you.
6. General Dentist
The amount a dentist gets paid depends on the province you’re practicing in. Labrador City, Newfoundland offers the highest wages at nearly $300,000 per year. In Ottawa, a dentist makes $244, 264 annually while in Toronto, the average wage is $162, 907. Vancouver offers dentists up to $192, 509 per year while Winnipeg offers $220, 120 per year.
In all provinces, there is a shortage of dentists but you need a lot of post-secondary education to step into this career. You have to complete a 4 year bachelor or Science degree as well as go to dentistry school, which takes another 4 years. Entrance exams and internships also need to be completed. To be dentist, you have to hold a license. There’s general dentistry where you diagnose and manage dental issues. Then there are oral surgeons who make up to $350,000 per year but are required to perform surgeries and more complex dental issues.
7. Data Science Director
Data Science is the art of establishing, planning, and administering goals and policies of the function of data science. It’s a complex role that takes up to 10 years to reach including schooling and working in the field to make your way up to director. However, you can be paid over $250,000 annually for this highly sought-after skill and expertise. Toronto firms typically pay the highest amount for a data scientist at $133, 272 while in Vancouver it’s $102,198. These are average salaries based being a data scientist working your way up in the field.
8. Family Physician
Family physician’s are always high in demand. There’s a vast amount that you oversee as you take care of patients, diagnosing and treating illnesses or ailments. You’re a part of people’s health and this can be one of the most stressful jobs of all. However, you’ll be paid quite well with the potential of specialists being paid over $350,000. Becoming a doctor is one of the most challenging careers with a decade of university needed. Once you’ve completed your degree, you’ll be making money right away and have your choice of where you want to be.
9. Cloud Architects
There’s minimal education required to become a cloud architect, but you have to understand what you’re doing. You can prove your skill set by obtaining things like The Google Cloud Architect certification. It’s not easy to get this and you’ll have to have a good understanding of cloud computing, the deployment models, service models, and deployment architectures. It’s more about the skills and knowledge you have than the education. You’re essential a specialized IT professional who will look over a company’s cloud computing strategy.
10. Anesthesiologist
Anaesthesiologists are doctors with additional education. There’s a specific fellowship program you need to go through to start your career. While it’s well over 10 years of education, you can make close to $400,000 annually. An Anaesthesiologist will usually work right in a hospital, managing pain by giving patients anaesthesia. This includes evaluation and monitoring the patient before, during, and after surgery. You may even lead teams through surgery. This field has grown exponentially and is facing a shortage so there’s plenty of demand. If you’re working towards your medical doctorate, you may want to get the additional education to become an Anaesthesiologist
11. Psychiatrist
Mental health has become a growing concern over the past years. Today, there’s the possibility to offer your services online as a psychiatrist. You can also have your own office or share with other professionals. Psychiatrists are a medical doctor with specialized education on mental health. You’re qualified to assess the mental and physical aspects of a patient.
There’s the potential to close to $450,000 annually depending on where you work and your experience. You can work in hospitals, for the government, for organizations, or have your own practice.
12. Orthopaedic Surgeon
An Orthopaedic surgeon takes quite some time to get to. Once you’ve got your education, which can take up to 14 years, you’ll be preventing, diagnosing, and treating disorders associated with muscles, tendons, ligaments, bones and joints. There are general practitioners and specialists in the field that might focus on certain part of the body.
This profession is always high in demand with the potential to earn up to $400,000. The average salary for surgeons is $300,00. There’s the potential to open up your own clinic or you can work in a hospital setting.
Many of the top paying jobs in Canada require many years of schooling, especially with any of the medical-based degrees. However, many of the IT positions are high in demand and if you have the skill set of programming, you may have the opportunity to step into a high paying role. If you’re on the path to one of these jobs, it’s time to start looking at where you want to work and how much money that particular job can offer. Once you have a high paying job, you can start working on your future. If you’re looking to start your own business in any of the top professions, you may have access to business loans that can help you succeed.
