Average Salary in Ontario 2023 - The Complete Guide (2024)

FAQs

What salary do you need to live comfortably in Ontario? ›

Cost of living for a couple

In order for a couple to live comfortably, it is recommended to have around $3,500 per month or around $50,000 plus per year. This can vary a lot depending on if the couple is a one-income or two-income household as well as the size of the apartment/house you choose to live in.

How much does a Entry Level make in Toronto, ON? The average salary for a Entry Level is $38,760 in Toronto, ON. Salaries estimates are based on 33 salaries submitted anonymously to Glassdoor by Entry Level employees in Toronto, ON.

The average family salary in Canada is $48,768 per year or $25.01 per hour. Entry-level positions start at $31,200 per year, while most experienced workers make up to $156,400 per year.

As of September 2022, the average Canadian salary in 2022 was $1,175.37 per week or $61,119.24 per year for full-time employees. When looking at the breakdown province by province, the overall trend is positive, with people in each province earning more money than they had in 2021.

If you make $70,000 a year living in the region of Ontario, Canada, you will be taxed $20,066. That means that your net pay will be $49,934 per year, or $4,161 per month. Your average tax rate is 28.7% and your marginal tax rate is 32.7%.

How much does a Canada ontario make in Canada? The average canada ontario salary in Canada is $42,900 per year or $22 per hour. Entry-level positions start at $35,178 per year, while most experienced workers make up to $90,274 per year.

A base salary is the minimum amount you can expect to earn in exchange for your time or services. This is the amount earned before benefits, bonuses, or compensation is added. Base salaries are set at either an hourly rate or as weekly, monthly, or annual income.

What is minimum wage in Ontario in 2023? Minimum wage in Ontario is $15.50 per hour. The increase of 50 cents on October 1, 2022 represents a 3.33 per cent rise from the province's previous minimum wage of $15.00 per hour.

Is $65000 a good salary in Ontario? ›

The average salary in Toronto is $52,268, which is 10.1% higher than the Canadian average salary of $47,487. A person making $65,000 a year in Toronto makes 24.4% more than the average working person in Toronto and will take home about $49,070.

If you make $80,000 a year living in the region of Ontario, Canada, you will be taxed $23,223. That means that your net pay will be $56,777 per year, or $4,731 per month. Your average tax rate is 29.0% and your marginal tax rate is 31.5%.

The average salary in Toronto is $52,268, which is 10.1% higher than the Canadian average salary of $47,487. A person making $45,000 a year in Toronto makes 13.9% less than the average working person in Toronto and will take home about $35,937.

Only around 11% of Canadians make more than $100,000 a year according to statistics Canada.

Source(s): Table 11-10-0190-01. The median after-tax income of Canadian families and unattached individuals was $66,800 in 2020, which represented an increase of $4,400 (+7.1%) from the previous year.

The Pew Research Center defines the middle class as households that earn between two-thirds and double the median U.S. household income, which was $65,000 in 2021, according to the U.S. Census Bureau. 21 Using Pew's yardstick, middle income is made up of people who make between $43,350 and $130,000.

We'll break this affordability equation down into more detail later, but if you're grossing $70,000, a monthly mortgage payment between $1,400 and $1,700 is probably where you'll fit most comfortably.

Let's say you earn $70,000 each year. By using the 28 percent rule, your mortgage payments should add up to no more than $19,600 for the year, which equals a monthly payment of $1,633. With that magic number in mind, you can afford a $305,000 home at a 5.35 percent interest rate over 30 years.

How much of a house can I afford if I make 72k? ›

On a $70,000 income, you'll likely be able to afford a home that costs $280,000–380,000. The exact amount will depend on how much debt you have and where you live — as well as the type of home loan you get.

If you make $40,000 a year living in the region of Ontario, Canada, you will be taxed $10,446. That means that your net pay will be $29,554 per year, or $2,463 per month. Your average tax rate is 26.1% and your marginal tax rate is 25.9%.

A person working full-time in Canada typically earns an average salary of 120,000 CAD per year. The Average Salary in Canada ranges from 30,200 CAD to 534,000 CAD.

Overall, both Canada and the US are fairly expensive to live in. Canada has much higher housing costs but healthcare costs are much more expensive in the US. While US salaries are slightly higher, Canadians have a much easier time making a higher salary with less education.

The average stable salary in Canada is $37,538 per year or $19.25 per hour. Entry-level positions start at $29,738 per year, while most experienced workers make up to $59,250 per year.

Average rent in Canada per month

The average rent in Canada is $1,818 per month as of March 2022, according to rentals.ca.

Wal-Mart Canada pays its employees an average of C$15.34 an hour. Hourly pay at Wal-Mart Canada ranges from an average of C$12.92 to C$20.01 an hour.

On January 1, 2023, minimum wage will increase from $13.70 to $14.50 per hour ($0.80 increase) and on October 1, 2023, minimum wage will increase from $14.50 to $15.00 per hour ($0.50 increase). Effective as of May 1, 2022.

Ontario's Employment Standards Act sets out that if an employee who regularly works more than three hours a day is required to attend work but works less than three hours, despite being able to work longer, the employer shall pay the employee wages for at least three hours.

Is $80000 a year considered middle class? ›

That's largely because the income range that institutions like Pew Research Center uses to define this cohort is so broad. With the median U.S. income being about $80,000 a year, a household of four earning between roughly $52,000 and $175,000 a year is considered middle class.

Average Salary in Toronto

A person making $75,000 a year in Toronto makes 43.5% more than the average working person in Toronto and will take home about $55,955.

If you make $75,000 a year living in the region of Ontario, Canada, you will be taxed $21,698. That means that your net pay will be $53,302 per year, or $4,442 per month. Your average tax rate is 28.9% and your marginal tax rate is 30.5%.

If you make $60,000 a year living in the region of Ontario, Canada, you will be taxed $16,874. That means that your net pay will be $43,126 per year, or $3,594 per month. Your average tax rate is 28.1% and your marginal tax rate is 34.2%.

If you make $100,000 a year living in the region of Ontario, Canada, you will be taxed $29,986. That means that your net pay will be $70,014 per year, or $5,835 per month. Your average tax rate is 30.0% and your marginal tax rate is 43.2%.

If you make $90,000 a year living in the region of Ontario, Canada, you will be taxed $26,371. That means that your net pay will be $63,629 per year, or $5,302 per month. Your average tax rate is 29.3% and your marginal tax rate is 34.4%.

To be clear, Ontario's high marginal tax rate is due to tax hikes at both the federal and provincial level. In 2012, the Ontario government added a new personal income tax bracket with a rate higher than the previous top personal income tax bracket.

Find out what the average Good salary is

How much does a Good make in Canada? The average good salary in Canada is $44,850 per year or $23 per hour. Entry-level positions start at $31,200 per year, while most experienced workers make up to $91,012 per year.

Average Salary in Toronto

A person making $70,000 a year in Toronto makes 33.9% more than the average working person in Toronto and will take home about $52,587.

Is 80000 dollars a good salary in Canada? ›

Average Salary in Toronto

A person making $80,000 a year in Toronto makes 53.1% more than the average working person in Toronto and will take home about $59,472.

Average total income of Canadians in the top 1% of income fell by $5,500 to $512,000.

Annual income often comes in rounded numbers, as seen in the spikes sticking out at each $10,000. More round numbers at the $150,000 and $200,000 marks. About 2% of employed people made $300,000 or more in total income.

Middle Class Defined by Region. According to the U.S. Census Bureau, the median income in 2021 was $70,784. So American families earning between $47,189 and $141,568 are technically in the middle class, according to the Pew Research Center's definition. However, other factors must be considered.

Many have graduate degrees with educational attainment serving as the main distinguishing feature of this class. Household incomes commonly exceed $100,000, with some smaller one-income earners household having incomes in the high 5-figure range.

In 2021, the median household income is roughly $68,000. An upper class income is usually considered at least 50% higher than the median household income. Therefore, an upper class income in America is $100,000 and higher.

The upper class in Canada is a group of high-earning people that get more than double the median household income. These people usually earn more than $236,000 annually.

How much does a Canada ontario make in Canada? The average canada ontario salary in Canada is $42,900 per year or $22 per hour. Entry-level positions start at $35,178 per year, while most experienced workers make up to $90,274 per year.

What is the take home pay for 75000 in Ontario? ›

If you make $75,000 a year living in the region of Ontario, Canada, you will be taxed $21,698. That means that your net pay will be $53,302 per year, or $4,442 per month. Your average tax rate is 28.9% and your marginal tax rate is 30.5%.

Hourly wage calculator

$30 per hour is $62 400 a year. This number is based on 40 hours of work per week and assuming it's a full-time job (8 hours per day) with vacation time paid.

Average McDonald's hourly pay ranges from approximately $13.86 per hour for Order Taker to $24.00 per hour for Retail Manager.