Canadian salaries to increase by 3.6% in 2024

Highlights: Canadian salaries to increase by 3.6% in 2024

·         A survey was conducted in more than 700 companies by a financial management consulting firm.

·         As a result of the survey, workers in Canada will be receiving more than a 3.6% pay increase in 2024.

·         Also, around 1.43% of companies have planned to give an additional one percent increase in pay. 

·         STEM and Foodservice occupations are in high demand in Canada.

·         Therefore, industries like STEM, Real Estate, Manufacturing, and Foodservices are likely to receive up to a 3.9% increase.

·         2% of companies are predicted to have a salary freeze in 2024.

Newcomers to Canada

As we all know, the world is dependent on money, therefore a small increase in pay makes more difference. Every employee expects to get more money so that they can live a comfortable life. For many such reasons, the increase in salary across Canada for workers is a positive development of the country.

This change will benefit the newcomers to Canada, as they require more money to settle in Canada and also help their families to get a comfortable life in a new country. As the survey of financial management consulting firm predicts that there will be increase in pay, will benefit a lot of newcomers in the next year. This is done for the well-being of the employers who are getting average salaries.

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Average pay increase province list

Canadian Province	Pay increase
Quebec	3.7%
British Columbia, Ontario, Alberta, Yukon, Manitoba, Newfoundland and Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Nunavut, Atlantic Canada	3.6%
Northwest Territories, Saskatchewan and Prince Edward Island	3.3%

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Web Story: Canadian salaries to increase by 3.6% in 2024