When deciding what career path to follow, salary is bound to factor into your decision. Luckily, many well-paying jobs in Canada can provide a comfortable lifestyle while you use your education and skillset to make a positive impact.
Today, we'll break down 15 of the highest-paying jobs in Canada to help you make an informed decision about your future. Whether you want to interact directly with patients or clients or prefer to be behind the scenes, a high-paying job will be a good match for your skills!
So what are the highest-paying jobs in Canada?
- Chief Executive Officer (CEO)
- Orthopedic Surgeon
- General Physician
- Senior Manager, Software Engineers
- Chief Information Officer (CIO)
- Chief Marketing Officer (CMO)
- Accountant - Chartered Professional Accountant (CPA)
- Plant manager
Chief Executive Officer (CEO)
At the top of our list is the CEO. As of October 2022,Canada's median annual Chief Executive Officer salary is $536,423. Not including bonuses and benefits, the range tends to fall between $398,499-$747,060.
The CEO is responsible for all aspects of an organization's operations and reports directly to the Board of Directors. A CEO typically has a Bachelor's degree in business, economics, or accounting and several years of experience in management.
Keep in mind this career path has wages that vary significantly, with some CEOs earning much more than the base and some much less. This often depends on the age and size of the company, as well as the CEO's experience.
Nevertheless, the demand for CEOs is expected to level over the next ten years, with the number of job openings and job seekers projected to be balanced or fair,according to the Government of Canada's Job Bank.
Canadian radiologists are among the country's highest-paid workers earning anaverage annual salary of $325,000. Radiologists are medical doctors specializing in diagnosing and treating diseases using medical imaging such as X-rays, MRIs, and CT scans.
They often work in hospitals or clinics but may also work in private practices. Many people who take this career path are interested in science and technology and want to use these tools to help others.
To become a radiologist, one must complete a Bachelor's degree and four years of medical school, followed by a five-year residency program specializing in radiology.
Some radiologists may choose to further specialize by completing a fellowship in a particular area of radiology, such as breast imaging or cardiovascular radiology, for an additional one to two years.
There is currently a shortage of radiologists in Canada, which is expected to continue into the next decade. As a result, the demand for radiologists is high, and wages are expected to remain high.
Another medical doctor on the list, anesthesiologists, are responsible for administering drugs that maintain or induce anaesthesia during surgery. In addition to completing medical school, an anesthesiologist must complete a Bachelor's degree, four years of medical school, a four-year residency program in anaesthesia, pass a specialty certification exam, and be licensed by the appropriate province or territory.
Themedian salary for an anesthesiologist in Canada is $281,182, with anaverage of $356,000. The high end of the salary range for anesthesiologists is over $500,000.
There's a strong demand for anesthesiologists in Canada, with the number of job openings expected to be greater than the number of job seekers over the next ten years.
Psychiatrists are medical doctors who specialize in diagnosing and treating mental disorders. Upon completing a Bachelor's degree, a psychiatrist must complete four years of medical school and five years of psychiatric residency training.
To further specialize, a psychiatrist may complete a fellowship in a particular area of psychiatry, such as child and adolescent psychiatry or geriatric psychiatry, for two or three years. This career is well-suited to those who enjoy working with people and want to help others in a medical capacity.
The median salary for a psychiatristin Canada is $281,182, with the average being closer to $300,000. In parts of Canada, wages for psychiatrists exceed $600,000.
Psychiatry is another medical field with labour shortagesanticipated between 2019-2028, which means the demand for psychiatrists will be high.
A cardiologist is a type of physician who diagnoses, treats, and prevents diseases of the heart and blood vessels. A cardiologist must complete four years of undergraduate study and four years of medical school. Then, they mustreceive Royal College certificationwith four years of internal medicine training and three years of Royal College-approved adult cardiology training.
Cardiologists often earn salaries at the high end of the medical field as highly sought-after specialists. The average salary for a cardiologist inCanada in 2022 is $269,967. The high end of the salary range for cardiologists is over $700,000.
Cardiology is a famous specialty with medical residents, and the number of job openings is expected to exceed the number of job seekers over the next ten years. As the population ages and the percentage of the population with heart conditions rises, the demand for cardiologists is expected to increase.
Specializing in diagnosing and treating injuries and disorders of the bones, joints, and muscles, orthopedic surgeons are among the highest-paid workers in Canada. They often work in hospitals or clinics but may also work in private practices. Many orthopedic surgeons choose this career because they are passionate about helping people regain mobility and lead active lives with better bones, muscles, and joints.
Becoming an orthopedic surgeon involves completing a Bachelor's degree followed by four years of medical school and five years of residency training in orthopedic surgery. Some orthopedic surgeons may specialize further, requiring an additional year or two of school. Many orthopedic surgeons complete 14 years of education and training after graduating high school.
The average annual salary for anorthopedic surgeon in Canada is $250,000. However, some earn significantly more, with wages varying across the country.
With an aging population and an increased number of people participating in sports, the demand for orthopedic surgeons is expected to be high in the coming years.
A general physician (also called a GP or family doctor) is a type of medical doctor that provides primary care to their patients. They tend to be personable and enjoy working directly with people to improve their health.
A general physician must complete four years of undergraduate study, four years of medical school, and a three-year residency program. Some physicians specialize in a particular area of medicine, such as pediatrics, geriatrics, or sports medicine. Many family doctors also complete a Master's degree or Ph.D.
The median salary for ageneral physician in Canada is $216,864, with the high end of the salary range being over $700,000. General practice is a highly sought-after specialty by medical students in Canada, and job prospects remain good, with high demand for GPs in most parts of Canada.
A dentist is a physician who focuses on their patients' oral health. Dentists must complete four years of undergraduate study, four or five years of dental school, and pass national and provincial exams.
Some dentists specialize in a particular area of dentistry, such as periodontics, endodontics, or oral surgery. Well-suited to those who have manual dexterity and enjoy working with their hands, dentistry is a relatively popular career choice.
The average base salary for adentist in Canada is almost $174,000. The high end of the salary range for dentists is over $400,000 in parts of Canada. As for job prospects, there's an expected labourshortage for dentists between 2019-2028, which means there will be more job openings than job seekers over the next ten years.
Senior Manager, Software Engineers
Senior software engineering managers are responsible for leading a team of software engineers and overseeing software applications' development, implementation, and maintenance. Daily, they might be involved in tasks such as planning project timelines, writing code, and troubleshooting software issues.
A senior manager of software engineers typically has a Bachelor's degree in computer science, software engineering, or a related field, along with several years of experience working in software engineering to work their way up to a management position.
The average annual salary for asenior software engineering manager is over $162,000. Job prospects for senior managers of software engineers in Canada are good, with an increasing number of openings.
Chief Information Officer (CIO)
CIOs are responsible for all aspects of an organization's information technology, including planning, developing, implementing, and managing information systems.
A CIO typically has a Bachelor's degree in computer science or a related field, along with several years of experience working in IT. Some of their daily responsibilities include ensuring that systems are secure and meet the users' needs. They often oversee a team of IT professionals as well.
The average base salary for a CIO inCanada is over $160,000. The high end of the salary range for a CIO is over $200,000. In terms of demand, the number of job openings for CIOs is expected to be higher than the number of job seekers over the next ten years.
Chief Marketing Officer (CMO)
Marketing is an increasingly important function in businesses of all types and sizes as the need to reach and engage customers grows. The CMO is responsible for developing and executing marketing strategies and initiatives. In addition, they work with other executive team members to ensure that the company's marketing efforts are aligned with its overall business goals.
The average salary for aCMO in Canada is $149,000. As with other executives, salaries will vary depending on company size, location, and industry.
The job market for CMOs is expected to be good over the next ten years. Again, as the importance of marketing becomes more evident, businesses will need to fill more CMO positions.
Accountant - Chartered Professional Accountant (CPA)
Accounting is a great career choice for those who enjoy numbers, developing and following processes and reviewing financial information. However, not all accounting jobs are the same, and there is a wider variety of career opportunities.
An accountant can focus their career in many different directions, including tax accounting, general accounting, financial planning and analysis, account payable, accounts receivable, financial controller, corporate treasury, financial management, chief financial officer (CFO), and more.
The education requirements to become an accountant and be awarded a CPA would take six years to complete if a person studied full-time and entered the CPA program right after graduation.
An undergraduate degree is required, along with a list of accounting and other classes that must be taken. The CPA program will typically take two years to complete, and the CPA candidate must have met specific experience requirements before being awarded a CPA.
There is consistent demand for accountants and CPAs in Canada, and the government is anticipating the number of job openings and the number of job seekers over the next ten years to be level. The median compensation of aCPA across Canadais $108,000, with an average compensation of $146,000 and a high-end range for accounting partners of over $300,000.
A lawyer is a professional that provides legal advice and represents clients in court. To become a lawyer in Canada, one must complete four years of undergraduate study, three years of law school, and be called to the bar in their province or territory.
Lawyers can specialize in several different areas, including corporate law, criminal law, family law, tax law, and more. They can also work in private practice, for the government, or a corporation.
The median salary for alawyer in Canada is $116,000. However, salaries for lawyers in Canada vary greatly, with some lawyers earning hundreds of thousands more each year: the average sits atjust over $120,000.Job prospects for lawyersacross Canada tend to be good, with certain areas being better than others. For example, prospects in Alberta and British Columbia are greater than in Ontario, where the market is more competitive.
While most of the highest-paying jobs in Canada require a university degree as well as some additional training, some well-paying jobs only require a high school diploma. Plant managers are one example.
To become a plant manager, one typically needs several years of experience working in a managerial or supervisory role in a manufacturing setting. While there aren't strict education requirements for this role, some companies may also require candidates to have a bachelor's degree in business administration or engineering. This can also give you a leg up on the competition.
Plant managers are responsible for the overall operation of a manufacturing plant or factory. This includes tasks such as supervising employees, ensuring safety standards are met and maintaining equipment.
They also develop plans to improve efficiency and productivity. The average salary for aplant manager in Canada is $102,395. Job prospects are good, especially in provinces with large manufacturing sectors, such as Ontario and Quebec.
Another medical professional with a high-paying salary is a pharmacist. They are responsible for dispensing medications to patients, offering advice on the proper use of those medications, and monitoring patients' reactions to the medications.
Pharmacists must complete a minimum of 2 years of undergraduate study followed by four years of pharmacy school. In Canada, they must also pass a national exam and obtain a license from the province or territory in which they wish to practice.
The average base salary for apharmacist in Canada is $94,224. The high end of the salary range is over $200,000. Currently, there is asurplus of pharmacists in Canada, so job prospects are not as good as they are for some other professions. However, the aging population is expected to drive up demand for pharmacy services, so the job market could improve over the next ten years.
Highest Paying Jobs in Canada: FAQs
Now that we've covered 15 of the highest-paying jobs in Canada, you may still have some questions. Here are some frequently asked questions about high-paying jobs in Canada:
What is the highest-paying job in Canada in 2022?
There isn't one single job in Canada that is the highest-paying. However, the medical field generally tends to offer high salaries. This includes roles such as an orthopedic surgeon, radiologist, anesthesiologist, and psychiatrist, each earning an average of more than $200,000 annually. When we wonder how many millionaires are in Canada, there is a good chance that certain medical specialists often make the leap into that category sooner than the average person.
What jobs make $300k a year in Canada?
Several jobs in Canada make $300,000, including several in the medical field. Other industries with roles that make this much include financial services, law, and technology. Leadership roles tend to be the highest paying, such as chief executive officer (CEO) or chief financial officer (CFO).
What is the easiest job with a high salary in Canada?
There is technically no easy job that pays well in Canada. However, some jobs don't require a university degree and still offer a good salary. One example is plant managers, with an average salary of $102,395.
Conclusion: The Highest-Paying Jobs in Canada
There you have it! Sixteen of the highest-paying jobs in Canada. These roles include medical, law, finance, and technology. They also typically require a university degree and additional training or certification. So, these are some good options if you're looking for a high-paying job in Canada.
Disclaimer: The writer of this article or employees of Stocktrades Ltd may have positions in securities listed in this article. Stocktrades Ltd may also be compensated via affiliate links in this post.
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