The Best Jobs for Wage Growth in Canada

Canada has plenty of jobs, with unemployment at one of its lowest rates in nearly 40 years. However, according to The Globe and Mail, wage growth has been dropping to below the inflation rate. In other words, wages aren’t rising as fast as the cost of living. Naturally you’d want a job with a good salary right now, but what about in five years’ time? Will your wages increase enough for you to keep making a good living? Using the latest data from Canadian Business and other sources, we bring you the best jobs for wage growth in Canada.

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10. Scientific Research Manager (Five-year wage growth: 25%)

A research scientist may have one of the highest-paying jobs for women but if you want good wage growth too, you might want to become a scientific research manager. The five-year wage growth for this job is 25% and the median salary is $100,006.40 per year according to Canadian Business. A scientific research manager’s job entails managing scientific experiments and analyzing the results. You need a science degree to follow this career path.

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9. Retail/Wholesale Trade Manager (Five-year wage growth: 26%)

Canadian Business reports that the median salary for a retail or wholesale trade manager is $64,001.60 per year and the five-year wage growth is 26%. The job entails being in charge of a retail business’ operations, from deciding what to sell and at what price to managing sales staff. A university degree is helpful but not always necessary. However, retail sales experience is important.

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8. Statistician/Actuary (Five-year wage growth: 26%)

With a median salary of $89,148.80 and a five-year wage growth of 26% according to Canadian Business, statisticians and actuaries can look forward to a bright future. In fact, statisticians have one of the highest-paying jobs for Generation Z. Statisticians are also called data analysts and they can work in many different settings, while actuaries have a similar skills set but work in the insurance industry. To qualify for either job, you’ll need a bachelor’s degree in statistics, mathematics or a similar field.

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7. Forest Products Processing Supervisor (Five-year wage growth: 30%)

Forest products processing supervisors earn a median salary of $62,046.40 reports Canadian Business and can expect wage growth of 30%. They can work in any of the industries related to forest products, such as sawmills and paper and pulp mills. As supervisors, their main responsibility is to check that their subordinates do their job well. Training is usually on the job and relevant certificates such as first aid can increase your chances of getting promoted.

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6. Business Services Manager (Five-year wage growth: 30%)

As a business services manager, Canadian Business says that you can earn a median salary of $90,001.60 per year, with a five-year wage growth of 30%. The job basically entails overseeing all the business processes to ensure that the business runs smoothly. You’ll need a bachelor’s degree in a discipline such as business administration or business management.

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5. Banking and Credit Manager (Five-year wage growth: 30%)

Banking and credit managers earn a median salary of $94,993.60, according to Canadian Business, with a five-year wage growth of 30%. Banking managers are usually responsible for a variety of financial operations in a bank and may even be able to give money-saving tips for people who struggle with saving. Credit managers focus on loans specifically. Employers usually require banking and credit managers to have a bachelor’s degree in a financial field like economics or accounting.

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4. Real Estate and Financial Manager (Five-year wage growth: 31%)

With a median salary of $104,540.80 and wage growth of 31% according to Canadian Business, real estate and financial managers have some of the highest-paying jobs for newcomers. Real estate managers tend to oversee the daily operations of commercial or residential properties, including the financial operations, while financial managers usually focus specifically on the financial aspect. Both jobs usually require a bachelor’s degree in finance, business administration or real estate.

Underground Mine Service and Support Worker

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3. Underground Mine Service and Support Worker (Five-year wage growth: 33%)

Underground mine service and support workers earn a median salary of $66,560.00 reports Canadian Business, with a five-year wage growth of 33%. There are different job descriptions in this field, including blasters, assemblers and builders of support structures. Their activities help miners do their jobs. They work in an uncomfortable, physically demanding and dangerous environment and must be physically fit. Training is usually on the job.

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2. Financial Auditor (Five-year wage growth: 39%)

As a financial auditor, Canadian Business says you can earn a median salary of $62,400.00 with a good five-year wage growth of 39%. The job entails working with a company’s financial data, ensuring that there are no errors or instances of fraud in the financial statements. The minimum job requirement is normally a bachelor’s degree in finance or accounting. Some companies also require financial auditors to have an MBA and to be a CPA.

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1. Dentist (Five-year wage growth: 60%)

According to Canadian Business, dentists in Canada earn a median salary of $76,793.60 but with a five-year wage growth of a whopping 60%, there is potential for having one of the highest-paying jobs in the world. To become a dentist in Canada, you need a degree in dentistry. Then you need to pass the exams of the National Dental Examining Board of Canada and obtain the relevant licence to practise in your province.

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