The average salary of an individual in Canada is around 169,000 CAD per year. Salaries range from 22,800 CAD to 747,000 CAD in 2020 according to a report by salaryexplorer. The average salary includes housing, transport and additional benefits.
The median salary or the middle salary value is 159,000 CAD per year. This indicates that half the population are earning less than this amount while another half is earning more than this amount.
Experience factor in salary
Years of experience is directly proportional to the salary. The more years of experience will get a higher salary. Those with 2 to 5 years of experience earn 32% more than freshers across industries. Those with more than 5 years of experience can earn 36% more.
Salaries based on experience can vary across locations and career fields. Those with ten years of experience can expect a 21% increase while those with 15 years of experience can hope to earn 35% more. This also depends on the job title.
Education factor in salary
The level of higher education influences salary levels. Individuals in the same professional level but with varying levels of education will have a difference in their salary levels.
The salary levels based on education are also influenced by the location and the career field. Those with a master’s degree earn 29% more than those with a bachelor’s degree, while those with a PhD earn 23% more than those with a master’s degree even if it is the same job.
Average annual salary increments in Canada
Employees in Canada are likely to get an annual increment of 9%. However, these increments can vary from person to person. It depends on the performance of the individual and his contribution to the organization. These are important factors that determine the percentage of increment.
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