Salaries are on an upward trajectory in various sectors. Despite the challenges posed by inflation and the looming recession, wage levels persist in their ascent due to factors like skill and talent shortages, robust job expansion, and a workforce of confident job seekers unafraid to advocate for improved compensation.
Whether you’re actively seeking a new job opportunity or simply curious about the prospects for higher earnings, explore the list of some of the most lucrative professions in 2023 below.
1. full stack developer
The typical annual salary for a full-stack developer in Canada hovers at approximately $85,000. Entry-level full-stack developers typically commence their careers at a starting salary of $75,000 per annum, while highly experienced professionals in this field often command earnings exceeding $130,000 annually.
The demand for full-stack developers has never been higher, and this trend is expected to persist. It’s safe to affirm that there has never been a more opportune moment to embark on a career as a full-stack developer.
2. financial analyst
Financial analyst roles continue to hold their position among the top professions, with salary averages experiencing growth in recent years. If you’re a financial analyst, you can anticipate earning a salary ranging from $80,000 to $120,000.
Experienced financial analysts play a vital role in bolstering a company’s success by identifying financial data trends and aiding senior management in making sound decisions. As the finance function becomes more strategic and analytical, financial analysts are increasingly expected to collaborate directly with other departments. Consequently, the demand for candidates to fill financial analyst positions is on the rise across various industries.
3. HR manager
In Canada, the typical annual salary for a human resources manager averages at $83,000. Entry-level positions for HR managers typically commence at an annual rate of $80,000, while those with extensive experience can earn up to $110,000 annually.
Professionals in the field of Human Resources can look forward to substantial earning potential, job security, and an upward trajectory in salaries. HR specialists can anticipate solid job stability in the coming years while enjoying competitive compensation. Given the high number of job openings, individuals possessing sought-after skills wield greater bargaining power in the job market.
4. millwright
Millwrights have the potential to earn starting salaries of around $50,000, while those in more senior roles can command earnings as high as $95,000. Millwrights are currently in high demand, emerging as one of the most lucrative skilled trades professions. As the prevalence of machine automation continues to rise, the demand for millwrights to ensure the smooth operation of these machines is expected to grow.
The field of millwrighting is experiencing rapid growth, driven by the increasing adoption of advanced manufacturing equipment. Consequently, salaries for top-notch millwrights are on the rise, making it an opportune time to pursue a career in this field.
5. production supervisor
Being a production supervisor ranks among the high-paying occupations in Canada. Salaries for production supervisors typically commence at $65,000 and can ascend to over $100,000 for individuals in senior roles. Compensation in this field has consistently been on the rise, highlighting the increasing importance of production supervisors to businesses.
The demand for production supervisors is projected to remain robust, given the substantial growth in demand within the manufacturing sector over the past few years.
6. executive assistant
In Canada, executive assistants typically earn annual salaries spanning from $60,000 to $96,000. The job prospects for executive assistants have been on an upswing, with a notable increase in job opportunities nationwide.
A remarkable assistant stands as the support system for every accomplished executive. Executive assistants play a pivotal role in overseeing internal office operations and juggling the demands of their executives’ professional, personal, and social lives. This makes skilled executive assistants highly coveted by companies.
7. solution architect
Solutions architects can expect their salaries to fall within the range of $84,000 to $130,000, with the highest-paying provinces being Alberta, Ontario, and British Columbia. Salary brackets can exhibit considerable fluctuations based on several critical factors, such as educational background, professional certifications, additional skills, and years of experience in the field.
With the expansion of corporate information technology networks, the demand for solutions architects is on the rise, making this profession even more sought after in the job market.
8. forklift operator
The annual salary for a forklift operator falls within the range of $40,000 to $58,000. Forklift drivers are currently experiencing increased demand for their roles, and their compensation has correspondingly increased in response. The surge in e-commerce has led to a proliferation of warehouses and fulfillment centers.
Forklift operators are essential for the tasks of stacking, relocating, and managing inventory in warehouses and fulfillment centers throughout the nation. Given the substantial skills gap in this field, employers are actively seeking proficient workers to fill the numerous vacant positions.
9. electrical engineer
With five to ten years of experience, electrical engineers can earn an average salary of up to $115,000. Entry-level positions typically offer compensation ranging from $80,000 to $100,000, although higher average salaries are prevalent in areas like Calgary, Ontario, and British Columbia. Electrical engineers specializing in energy and manufacturing sectors tend to command the most attractive pay packages.
The generous remuneration for these roles is attributed to the substantial educational and experiential prerequisites, as well as the interplay of supply and demand dynamics. A prevailing shortage of STEM (Science, Technology, Engineering, and Mathematics) skills in Canada often results in heightened compensation levels for technical professions.
10. construction project manager
Construction project managers enjoy highly competitive salary packages, which can reach or even exceed $100,000 annually depending on the job’s location.
The pandemic has triggered substantial job growth within this industry, consequently driving up salaries. The housing market’s challenges and the demand for diverse business infrastructures have resulted in increased workloads for construction project teams.
These represent only a handful of the highest-paying professions in Canada for the year 2023. Exceptional earning opportunities can be found across various industries, and your potential income is contingent on factors such as your level of experience, personal preferences, and openness to geographical relocation.
