Jobs That Could Make You a Millionaire in Canada

We all want a seven-figure bank account, but let’s face it: we don’t all have that rich aunt who could leave us a million dollars in her will. Becoming a millionaire takes hard work and financial savvy, and you probably won’t become one if you slog away in a low-paying, dead-end job. However, there are some jobs with high salaries that could, eventually, bring you riches — and maybe even make you a millionaire. Unless otherwise stated, estimated salaries listed here are in Canadian dollars.

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1. Physician

According to the Canadian Institute for Health Information, the average gross clinical payment to physicians was $354,000 in 2019–2020. If you’re a physician and you can pay off your student loans sooner rather than later, you’ll be able to make enough to be a millionaire.

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2. Surgical Specialist

Surgical specialists earn more money than family physicians, with the Canadian Institute for Health Information finding that the average gross payment per physician for surgical specialists in 2020 was $457,000. Combine your medical knowledge with entrepreneurial skills to start a biotech firm and, like Patrick Soon-Shiong, the world’s richest doctor, you could ramp up the million to a billion.

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3. Investment Banker

According to Indeed, the average investment bankers salary in Canada is nearly $72,000, but once they make partner or managing director, they can earn millions a year. However, they work long hours so it’s not the job for you if you want a good work life balance.

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4. Software Architect

Narcity says that software architecture is one of the highest-paying jobs in tech. A top job in this field can pay about $140,000 a year.

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5. Tech Start-ups

Even if you’re not a software architect, being involved in a tech start-up, even as a coder, can make you very, very rich if it takes off. Choosing the right city for your tech start-up is one of the secrets to success.

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6. Professional Athlete

Becoming rich through sport requires dedication from a young age. However, if you’re great at what you do, you can become a millionaire in only a few years. Just ask Naomi Osaka, the highest-paid female athlete ever, according to Forbes.

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7. Corporate Lawyer

While we often think of lawyers as being well off, certain types of lawyers tend to make more than others. According to Indeed, for example, corporate lawyers in Canada earn an average of about $111,000 a year. However, public interest lawyers don’t do as well in terms of pay. Also, lawyers are one of the 20 most sleep-deprived jobs in Canada.

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8. Musician

This is one career where there's a lot of income potential, but it can be very hard to make it big. Most musicians never move beyond gigs in bars and small clubs but some do go on to do much, much bigger things. Take Paul McCartney, who once played seedy clubs in Hamburg before the Four became Fab. Now he’s a billionaire and the world’s richest rock star.

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9. Inventor

You never know where even the simplest idea can take you — and there's always potential to make it rich if you can be behind the right innovation. Michele Ferrero, for instance, turned hazelnut spread into Nutella — and built a billion-dollar empire.

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10. Politician

Politicians can earn decent money, and a generous pension may even help them retire early. Once you’ve made your name as a politician, you just need a few well-paying speaking gigs and a book deal, and a million will be within easy reach.

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11. Professional Gambler

If you have a good poker face, it can make you rich. According to Bloomberg Businessweek, Bill Benter used his mathematical skills to strike it big, first at blackjack and now at horse racing to make millions.

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12. Actor

While the average salary for an actor in Canada is quite modest (just over $24,000, according to Indeed), if you get your big break, you can go from poor to proud, just like these celebs who went from homeless to rich and famous.

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13. YouTuber

As Justin Bieber and Shawn Mendes showed, YouTube can kickstart your career. While it takes a lot of work and some luck, you can also get rich through the video-sharing site itself.

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14. Instagram Influencer

If you have a large following, you can make money from your Instagram posts in a variety of ways, from getting your posts sponsored to affiliate income.

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15. Management Consultant

Management consulting is a job that can easily pay over $200,000 a year. In fact, Workopolis says that experienced management consultants can earn over $800,000 a year.

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16. Engineering Manager

According to Indeed, engineering managers make on average of about $104,000 a year in Canada. This is a high salary, and if you develop frugal habits, it can help you become a millionaire.

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17. Actuary

An actuary deals with risk management and this job is highly in demand around the world. Indeed says that in Canada, the average actuary salary is just over $78,000, but an experienced in-demand actuary can make much more.

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18. App Designer

While the average salary for a mobile app developer, according to Payscale, is around $65,000, a hit app can earn its designers very good money. Working for a gaming or app design company tends to be fun too, since these companies typically offer great job perks.

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19. Product Management Director

A product management director oversees the process of turning an idea into a product. According to Indeed, directors of product management in Canada make an average of about $158,000 a year. Follow the lead of the world’s thriftiest rich people and you’ll soon save that first million.

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20. Author

Whether you write one hit book that becomes a movie or churn out a bestselling paperback every year, being an author can be a lucrative career. According to Forbes, the world’s five highest-paid authors made US$235 million in American book sales alone during 2019.