Posted on October 31 2023
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A report by financial management consulting firm Normandin Beaudry said that, on an average, workers in this nation will receive a 3.6% increase in the pay in 2024.
The Ontario-based organization conducted a survey for over 700 companies nationwide and found many interesting findings which are of a value to Canadians who are employed.
Apart from the 3.6% average wage increase, the Normandin Beaudry survey also discovered that only a 2% of companies are predicting salary freezes in 2024, which is lesser than the wage freeze that was during the time of COVID, which was likely 3 to 5%.
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Some sectors particularly STEM, real estate, manufacturing, accommodation, and food services, are expected to have increase in the salaries above the national average up to 3.9%.
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According to U.S. News's 2023 Best nations’ rankings, Canada is now ranked third out of 87 nations in terms of quality of life, behind only Sweden and Norway.
Our ability to live comfortably depends on the money we earn from our jobs. This is particularly for immigrants in Canada, who occasionally can require more money than citizens of the country to support their families and build a good life for themselves.
This anticipated increase in pay in 2024 should help with the high standard of living that immigrants can have in this nation.
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Web Story: Canadian workers set for a 3.6% pay increase in 2024
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Canadian salaries
Work in Canada
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