Average salary one can earn in Canada
Immigrating to Canada as a permanent resident unquestionably brings up the issue of financial stability. Getting a new job turns into the main challenge and to make a better choice, it is important to understand the average salary in Canada. However, there can never be a single number to know since there are a few jobs that are highly compensated while there are some who get exceptionally low wages. It relies on your type of job to decide the compensation that you can expect in Canada.
An individual working in Canada generally earns nearly 120,000 CAD each year. Wages range from 30,200 CAD (minimum) to 534,000 CAD (highest average, the maximum salary is higher).This is the regular annual pay including lodging, transport, and different benefits. Earnings differ definitely between various job profiles.
Difference between the Median and the Average Salary
Median salary refers to the pay that is exactly half of the salaries in a job. Then again, the regular pay is the numerical mean of all the pay earned by the number of people for a specific position or a job. The maximum average salary in Canada is nearly 534,000 CAD or INR 3,11,89,445 every year. The average compensation is roughly 112,000 CAD or INR 65,41,606 every year, which implies that half of the population is earning more and the other half percent of the population is making nearly 112,000 CAD.
Both median and average are compensation indicators. If your pay is higher than both, it demonstrates that you are earning well. And if it falls below the mark, there are still opportunities to get better.
Range of Salaries in Canada
The compensation range in Canada ranges between 30,200 CAD or INR 17,63,897 to an average compensation of 534,000 CAD or INR 3,11,89,445.
Salary as per experience
You get a 32% raise in salary when you are working for 2-5 years.
A 36% rise in pay for working 5-10 years.
A 21% rise in pay for an experience of 10-15 years.
14% increase for 15-20 years, and
9% rise for 20+ years.
Increase in Salary with education
An employee gets a 17% climb in compensation in the wake of finishing High School and a Certificate or Diploma course.
A 24% rise for four-year certifications.
A 29% rise for completion of a graduate degree.
What’s more, a 23% hike for Ph.D. holders.
Pay correlation by Gender: Men in Canada earn 5% more than females on average in each job field.
Some of the top-most job professions to pursue in Canada are Doctors, Lawyers, Accountants, financial advisors, Engineers, Manufacturers, etc. There are other jobs as well that are always in demand in the country such as cooks, drivers, warehouse workers, domestic help, babysitters, etc. As per your job and role, you can easily estimate your earnings before making the move.
One can move and work in the country temporarily with a Work permit and there are various requirements for it, such as –
A visa with a validity of over a half year from the starting date of living in Canada.
Confirmation of having sufficient financial backing to cover candidates’ costs during their visit to Canada.
Clinical assessments are needed to be done at registered clinics.
Application expense.
Educational qualification certifications.
Confirmation of professional qualifications, including work experience.
Two recent passport-sized photos.
TOEFL or IELTS test scores.
Candidates need to offer proof that they will leave Canada once the work license gets terminated.
No previous criminal record.
Not working under any unapproved or illicit boss that isn’t enrolled with the Canadian government.
Should be healthy and have clinical insurance.
The other method to work in the country is a wholesome procedure of getting a Permanent Resident Visa. You have to enroll yourself with the IRCC to be considered to get invited for the PR Visa in the country. The PR Visa status is valid for 5 years. After living as a PR in the country for more than 3 years continuously, you can easily apply for citizenship and become a citizen of the country.
The source of the above-mentioned data is https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410034001