The Top Salaries in Canada
Canada is facing a labor shortage, creating many high-paying jobs with great earning prospects over the next five to ten years as employers struggle with skill shortages. These positions are highly sought-after and offer great earning prospects for professionals in these fields.
One of the highest-paying jobs in Canada is that of a medical doctor. While this career requires extensive training and an extended practice period, the rewards can be great.
1. Medical Doctor
When considering a career in medicine, it’s essential to factor in your salary potential. Earnings for doctors can vary widely based on specialization, experience, and where they work.
Doctors typically practice on a fee-for-service model, where they charge patients a fee for each service they provide. This practice is widespread in Canada and can be an attractive way for doctors to make extra money during their careers.
2. Actuarial Manager
Actuarial work is a highly specialized profession that takes an immense amount of time and dedication to pursue. Becoming an actuary may necessitate up to four years of study in order to pass your actuarial exams.
If you want to maximize your earnings as an actuary, it’s essential that you find a workplace where you can get compensated fairly for your work. Some places offer “student programs” which cover study materials costs, provide you with an attractive salary while studying, and even assist in passing exams.
If you’re considering becoming an actuary, it is wise to begin studying as soon as possible. The more time spent learning, the higher your earnings will be when applying for a job as an actuary.
3. Chief Operations Officer
Chief Operations Officers (COOs) have the responsibility for managing multiple departments and budgets. Furthermore, this role necessitates leadership abilities as well as people management capabilities.
In Canada, the average COO salary is estimated to be $285,859 or $137 per hour. This salary is in line with other top paying jobs within this profession.
4. Psychiatrist
Psychologists are among the highest paid doctors in America. Their salary is determined by several factors, such as how many patients they see daily, what services they can bill for and the province where they work.
Psychiatrists are known as “the people who get it right.” They provide emotional support to patients and their families while helping them manage emotional difficulties such as depression, anxiety, trauma or addiction. Furthermore, psychiatrists provide mental health services to children, adolescents and adults alike.
5. Orthopaedic Surgeon
Orthopedic surgeons diagnose and treat injuries to the musculoskeletal system, which includes muscles, bones, tendons and joints. They are capable of performing surgical procedures to correct deformities in this region as well as providing non-surgical solutions such as medications or physical therapy regimens.
Typically, orthopedic surgery residents have earned their bachelor’s degree and four years of medical school before completing a five-year residency program. Selection for such programs is highly competitive and often necessitates excellent academic performance in medical school, high licensing exam scores and extensive clinical experiences.
6. Architecture
Architecture is a highly-coveted career in Canada. It carries with it both financial security and great career development prospects.
Architecture is a profession that stirs emotions within society and requires great creativity. Architects blend aesthetics and engineering to create the built environment.
Canadian architects currently earn an average yearly salary of $102,607 and an hourly wage of around $49; further increasing their earning potential in the future.
7. Mining
Mining is one of Canada’s strongest industries and offers some of the highest salaries. While it may be challenging to find a high-paying mining job, those in the right position could make up to $300,000 per year.
Miners use specialized equipment to excavate, load and transport coal, minerals and rock. Their primary responsibility is safety; however, they may possess additional skills such as working in confined spaces or administering first aid.
