The Canadian job market is very lucrative with some jobs giving an income above $300,000. It’s all about identifying the highest paying jobs and working your way to finding a good position. It is important to have a solid job so you can lead a good life and retire early.
The landscape is rapidly changing and many jobs that used to pay well are considered redundant today. It’s important that you learn about the highest paying jobs in Canada and plan your future accordingly. We have covered some of the highest paying Canadian jobs in 2022 to help you get started.
Let’s have a look:
1. Senior software engineer
Degree required: Bachelor of Science in Software Engineering,
Years to degree: 3-4 years after high school
Median salary: $122,050
Salary range: $100,000 to $172,000
Software engineers are in demand in Canada. They make around $122,050 per year with some software engineers making more than $172,000 per year. The best thing about this job is that you don’t need a typical graduation degree to start your career. Most companies look for proven skills but some may require a traditional degree.
You can complete a three or four year graduation program to start your career. Masters and doctorate degrees are also available. You’ll typically make about $80,000 as a new software engineer.
You must spend at least five years in your field to be considered a senior software engineer. However, remember that this lucrative position requires a lot of work as the field of software engineering is constantly changing and you will have to continue to acquire new skills if you wish to continue to make good money.
2. Actuarial manager
Degree required: Bachelor of Actuarial Science, Mathematics, or Statistics
Years to degree: 3-4 years after high school
Median salary: $126,750
Salary range: $112,125 to $220,000
Interested in numbers? Consider a career in actuarial sciences. The main job of an actuarial manager is to analyse risks and their consequences, however, they also manage budgets, prioritise projects, and ensure progress.
The road to being an actuarial manager is quite long. You will first have to complete your bachelor’s degree, however, that may not be enough as 34.8 percent of actuarial managers have completed at least one master's degree. You cannot become an actuarial manager without having a college degree. Also, it can take a while to be an actuarial manager as you may first have to work as an actuary or actuarial analyst before moving to a managerial position.
On the plus side, this job is in demand and even some of the largest companies in Canada look for actuarial managers. Some top actuarial managers make more than $220,000 per year making it one of the highest paying jobs in Canada.
3. Chief Operations Officer
Degree required: Bachelor in Business Administration or business relevant
Years to degree: 4 years after high school
Median salary: $133,188
Salary range: $90,000 to $183,000
This is a very demanding job that could help you be the Chief Executive Officer (CEO). The salary range for this position is quite wide with some Chief Operations Officers (COO) making up to $183,000 per year and some taking home less than half. As a COO, you will directly report to the CEO and have many employees working under you. Also, most COOs in Canada enjoy additional perks as well including paid holidays and big bonuses.
4. Cyber security engineer
Degree required: : Bacnelor in Information Technology, Computer Science, Systems Engineering, or similar
Years to degree: 3 to 4 years after high school
Median salary: $135,000
Salary range: $120,063 to $148,883
Cyber security is a real concern hence it doesn't come as a surprise that there's a high demand for Cyber security engineers in Canada with some making over $148,883 per year. Cyber security engineers perform a variety of security-related tasks with the goal is to protect devices, networks, and services from malicious digital attacks. The job can be very demanding as you will often have to work under a lot of pressure.
Most cyber security engineers in the country are young and some companies are now even accepting applications from candidates with no college degree. You only need skills, certificates, and proven experience to get this highest paying job in Canada. Still, a college degree may prove to be beneficial.
5. Chief Information Officer
Degree Required: Bachelor in Information Technology or related
Years to degree: 4 years after high school
Median salary: $152,525
Salary range: $141,742 to $186,755
This is a very interesting position as it involves some very unique responsibilities including overseeing the processes, technologies, and people within a company's Information Technology (IT) organization. Chief Information Officers (CIO) make up to $152,525 per year with some taking home even more.
With digital becoming a core competency, more and more companies are competing to hire the best CIOs. The demand for this profession has skyrocketed in the last few years and most companies look for individuals with 10 or more years of experience. This means you will not get hired as a CIO right after you graduate, you will have to climb the corporate ladder.
6. General dentist
Degree required: Doctor of Dental Surgery or Doctor of Dental Medicine in dental school
Years to degree: 8 years after high school
Median salary: $195,000
Salary range: $119,250 to $275,000
There is a high demand for dentists in Canada and many provinces even appear to be facing a shortage. This is one of the highest paying jobs in Canada but the route to dentistry isn’t easy. Students first have to complete a four-year bachelor of science degree followed by dental school that runs for another four years. Moreover, they also have to pass several entrance exams and complete internships. Also, you must hold a licence before you can get a job as a general dentist in Canada.
On the plus side, the effort is worth it with salaries going as high as $275,000. A general dentist diagnoses, manages, and treats a variety of dental issues, however, they don’t typically offer specialized care. Oral surgeons perform more complex jobs such as tooth extractions and make around over $350,000 per year. You will have to spend another four years in college to become an oral surgeon.
7. Director of Data Science
Degree required: Bachelor in Data Science or related
Years to degree: 4 years after high school
Median salary: $209,500
Salary range: $165,500 to $253,500
This is a fast growing field that pays very handsomely with top companies offering over $250,000. Again, since it is a top-level position, you cannot directly get hired as a Director of Data Science and must gain some experience and organically reach the top. Most workers spend around 8-10 years before they reach this position with some companies even looking for more experience.
Also, companies typically require a PhD or master’s degree for this position. Workers who choose this option usually work as a data science engineer after graduation and continue to gain experience and education to reach the next stage. Your job as a Data Science Director will be to establish, plan, and administer the overall goals and policies of the data science function.
8. Family physician
Degree required: Doctor of Medicine
Years to degree: 10 years after high school
Median salary: $250,000
Salary range: $191,709 to $337,224
Every family needs a family physician to take care of common ailments such as fever and flu. The job of a family physician is to diagnose and treat chronic and acute illnesses. Moreover, they also offer counselling and routine health screenings to prevent health issues.
Family physicians in Canada make around $250,000 per year with more experienced and skilled experts earning over $350,000. You will be making a lot of money right after completing your degree and can choose to work independently or join a hospital. Your income will increase as you gain experience.
9. Cardiologist
Degree Required: Doctor of Medicine followed by specialization
Years to Degree: 13-14 years after high school
Median Salary: $254,878
Salary Range: $167,649 to $291,500
Here’s another medical position that pays very well. You could make more than $290,000 as you gain experience. However, the road to being a cardiologist is not easy. You will have to spend around 14 years to be a cardiologist and some experts choose to study even more.
Cardiologists look after their patient’s health and ensure the health continues to work well. They also perform complex surgeries and are very much in demand. However, cardiologists need to have relevant licences before they can work in Canada.
10. Anaesthesiologist
Degree required: Doctor of Medicine
Years to degree: 12-14 years after high school
Median salary: $308,000
Salary range: $254,909 to $397,850
Anaesthesiologists are qualified doctors with a graduate degree from medical school. They must also complete a fellowship program before working as an anesthesiologist. Most make around $308,000 per year with some making close to $400,000. This makes it one of the highest paying jobs in Canada.
Anaesthesiologists usually work in hospitals and are needed to manage pain and administer anaesthesia. They evaluate, supervise, and monitor patient care before, during, and after surgery and often lead teams. The field has rapidly grown in the last few years and is currently facing a shortage, which has pushed salaries higher making it a good career choice in and beyond 2022.
11. Psychiatrist
Degree required: Doctor of Medicine
Years to degree: 12 years after high school
Median salary: $332,681
Salary range: $300,000 to $448,376 per year
Mental health is a major concern and more and more people are looking for psychiatric help to solve mental health issues. Psychiatrists are medical doctors specialising in mental health, including substance abuse. They’re not only qualified to assess the mental aspect of psychological problems but also the physical aspect.
Psychiatrists today make up to $448,376 per year depending on where they work and how experienced they are. They work not only in hospitals but also in government and public organisations including community agencies, courts, prisons, nursing homes, and rehabilitation programs.
12. Orthopaedic surgeon
Degree required: Doctor of Medicine followed by specialization
Years to degree: 13-14 years after high school
Median salary: $335,000
Salary range: $308,750 to $400,000
Here’s another highest paying job in Canada that is quite in demand and is facing a shortage. Orthopaedic surgeons work to prevent, diagnose, and treat the disorders of muscles, tendons, joints, ligaments, and bones. They can be generalists or specialists focusing on specific parts such as the hip or the knee.
You can earn up to $400,000 as an orthopaedic surgeon in Canada but it will take you years of experience to reach this mark. Most new surgeons earn around $300,000 per year, which is still pretty good. It can take up to 14 years of education and training after high school to get your ortho degree and licence after which you will be able to work at a hospital or open your own clinic.
Which Is the highest paying job in Canada?
These were some of the highest paying jobs in Canada and while ortho surgeon might sound like the most rewarding options, some others jobs may end up paying more. Remember that the amount of money you make will not only depend on your degree but also on your overall experience, location, skills, and company. Big cities such as Montreal and Toronto pay more. Also, these jobs typically come with additional perks in the form of insurance benefits, retirement benefits, and paid leaves.
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About The Author: Michael Wight
Michael Wight is a full-time freelance writer with over 15 years of writing experience. He is heading his own content writing firm, Michael Words, and also contributes to other websites. He is a digital marketing expert and enjoys playing musical instruments in his free time. You can find Michael on Upwork as Michael W. and he is also associated with Michael Words.
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