How Some Of Canada's Highest-Paying Jobs For 2023 Pay In The US & It's A Big Difference
But, don't move to the states just yet.
A software engineer.
Ever found yourself wondering about the highest-paying jobs in the U.S. or how they compare to some of the highest-paying jobs without a degree in Canada? Or, perhaps, you're just starting out and curious about the highest-paying entry-level jobs in North America in general? Either way, you're not alone.
According to Spring Financial, while Canadians earn an average salary of CA$54,833.75, our American counterparts are pocketing a slightly heftier CA$70,862.50 on average.
Interestingly, while the U.S. boasts a higher average salary, it's not representative of the "American dream". Factors like operating costs, supply and demand, and living expenses are the real culprits.
Meanwhile, Canada's unique taxes and regulations tend to push up operating costs which in turn affect how salaries are dished out. The country also, generally, has a lower cost of living. So, maybe hold off on packing that suitcase for now.
That being said, if you're still curious to see what your skill set would be worth stateside, we've compiled a list that will let you know the average salaries in both the U.S. and Canada for these high-paying jobs.
Software Engineering Manager
Canadian salary: $143,044 per year
U.S. salary: $159,235 per year
Job description: These tech wizards write, debug, and maintain the software that instructs computers to perform tasks, whether it's saving a document or crunching complex data. They often work with popular programming languages like Java, C++, and Python. While some are self-taught prodigies, most have degrees in computer science or engineering.
As for career paths, software engineers can either dive deep into the technical intricacies or lead teams, orchestrating large projects and mentoring budding engineers.
Full Stack Developer
Canadian salary: $75,000 to $130,000 per year
U.S. salary: $81,801 to $127,548 per year
Job description: A full-stack developer is a multifaceted professional in the tech realm. Typically holding a bachelor's degree in computer science, software engineering, or a related field, they possess a comprehensive skill set. Their expertise isn't limited to just one area, but they must be proficient with web development tools.
Additionally, a full-stack developer should have a solid understanding of system design and be able to weigh the pros and cons of structures like monolith versus microservice. Beyond their technical skills, they play a pivotal role in teams, offering mentorship and coaching to peers.
Financial Analyst
Canadian salary: $80,000 to $120,000 per year
U.S. salary: $75,110 to $107,132 per year
Job description: A financial analyst is an important figure in the wealth management and investment decision-making world. Typically holding a bachelor's degree in commerce, finance, economics, or business administration, many also possess advanced qualifications like an MBA or a Chartered Financial Analyst (CFA) designation.
Their expertise lies in data analysis, with a keen eye for detail and robust organizational abilities. Communication is also key in their role, ensuring clear conveyance of complex financial data.
Human Resources Manager
Canadian salary: $80,000 to $110,000 per year
U.S. salary: $117,134 per year
Job description: A human resources manager will typically have 3 to 5 years of managerial HR experience under their belt. They might have dabbled in areas like communications or training, and if they've worked in industries close to yours, that's a big plus! Most have at least a bachelor's degree in fields like HR or business.
And if they've got that Chartered Professional Human Resources (CPHR) badge or its Quebec counterpart, CRHA, it's a cherry on top. But remember, their real-world experience often speaks louder than their degree.
Solution Architect
Canadian salary: $84,000 to $130,000 per year
U.S. salary: $176,000 to $292,000 per year
Job description: A solution architect typically holds a degree in computer science or IT, but many further enhance their credentials with certifications from industry giants like Microsoft.
This role demands substantial experience, often requiring 5 to 10 years in network administration and an additional 3 to 5 years in computer systems and database management. Those in senior positions not only possess technical expertise but also demonstrate leadership, mentoring, and project management skills. It's a role that seamlessly blends technical acumen with managerial capabilities.
Electrical Engineer
Canadian salary: $80,000 to $115,000 per year
U.S. salary: $95,493 to $138,436 per year
Job description: An electrical engineer isn't just someone with a fancy degree. Sure, they've got a bachelor's in electrical engineering, and some even have master's or doctorates. But it's their hands-on experience, often starting as a Junior Engineer or intern, that really counts. After about 3-5 years in the trenches, they're not just skilled, they're seasoned.
To officially wear the "professional engineer" title, they've got a special P.Eng license from their local association. And if you spot one with a LEED designation from the Canada Green Building Council? Well, that's the cherry on top, showing their commitment to sustainable and green building practices.
Executive Assistant
Canadian salary: $60,000 to $96,000 per year
U.S. salary: $62,823 to $101,123 per year
Job description: If you've ever wondered who's the real powerhouse behind top executives, it's often the executive assistant. These folks are the unsung heroes in many organizations. While some companies might be okay with just a high school diploma or GED, many are on the lookout for those with a bit more academic flair, like degrees in business administration or secretarial studies.
Got at least two years of experience under your belt? That's a big plus! But if you're a bit light on the experience side, don't fret.
Some companies are willing to train the right person, especially if you've got those essential soft skills to gel with the role.
The price discrepancy between Canadian and American salaries may seem unfair at first, especially considering that housing prices in the former have skyrocketed to more than double those in the US, with Spring Financial reporting a staggering 30% increase since 2020.
However, despite this fact, the overall cost of living remains lower in Canada due to various other factors like healthcare, the cost of groceries, and utilities.
However, if you can manage to stay in the country and work for a U.S. company, that's when you'll really be sitting pretty.
This article's cover image was used for illustrative purposes only.