5 Of The Highest Paying Jobs In Canada

Jobs can be easy to come by. However, during these difficult times, the job market is facing a downturn. Therefore, many people are either out of work or are looking to develop skills towards their next step/career. This is a great idea. However, many people may not know what’s a good path to follow, especially if they’re looking for the most lucrative options. This is not specific to the people who fit into the category mentioned above. Many young adults finishing school are looking for options that’ll earn them the most money. Considering university is extremely expensive, you will want to go into a field where it’s worth it.

Although “worth” and “value” vary from person to person, we will look at it from a monetary aspect. This means we will look at some of the highest-paying jobs specific to Canada. Contrasting our previous articles speaking on jobs, we will take the focus off whether or not you need a degree or a specific amount of schooling. It will of course be mentioned but it will not be the main focus. With that being said, let’s get into the highest-paying jobs in Canada.

Nurse

The first on our list is a nurse. More specifically, a registered nurse. Typically, nurses work predominately in clinics and hospitals. As a nurse, you will have a wide range of responsibilities and duties while working. Essentially, you will be responsible for the well-being of patients at your clinic or hospital. Of course, you will be assigned, patients. However, nurses tend to work long hours. Sometimes reaching the 10-12 hour mark. With that being said, it carries quite a considerable workload.

Becoming a nurse can be done in a few ways. However, the most common way would be to do a bachelor’s degree in nursing. After that, you will need to register with the CNA (Canadian Nurses Association). Schooling can be quite expensive, with degrees potentially costing $7,000 per year. However, with Nursing being one of the most lucrative degrees, you should be able to pay that off within a few years of working.

Above is a picture that shows the hourly wages of Registered Nurses in Canada starting from entry-level to experience. Typically, you’ll start off earning $32 per hour or even lower. To put this at a yearly amount, it equates to approximately $66,000 per year. However, as you develop your skills and experience, your pay can and will increase. As experience is greatly valued in this industry, you can see your pay increasing by as much as 19%. With an average wage of $41 per hour or $85,000 per year. This does not include any overtime or bonuses.

Dentist

Next is becoming a dentist. While many say the golden age of dentistry is long gone, that does not mean it is not a viable or lucrative career path. As a dentist, you will be looking at teeth and performing a multitude of procedures. This means fillings, root canals, etc. Luckily, as a dentist, you will have hygienists that help you out by providing assistance and often taking care of the cleanings.

Becoming a dentist is highly regulated. Therefore, there are a few things that you need to do in order to become a dentist. While there are a few different pathways you can take, we will explain one of the easiest ways. First, you will need to attend and complete an accredited dental program. After that, you will need to do the NDEB certification process, write the exam and apply for the provincial license. I will link a diagram here for other ways that you can go about this process.

As reported by 45 salaries, the entry-level for dentists is quite close to $100,000 per year. Making this one of the highest-earning entry-level jobs you can find. However, as you progress in your field, you can earn upwards of $150,000 per year. If you were to open your own dental practice, you have the ability to easily exceed this amount.

Lawyer

Becoming a lawyer is one of the most prestigious and competitive jobs you can find. A highly renowned job with the potential to earn a lot of money. Depending on what sector of law you dabble in, you’ll have different responsibilities. For example, intellectual property lawyers protect your ideas from being stolen. Whereas, slip and fall lawyers deal with injuries. One of the most lucrative law professions in corporate law. Here is where you will work for a large company and deal with lawsuits, settlements, business deals, etc.

Becoming a lawyer is expensive and time-consuming. After completing your undergraduate degree, you must apply for law school, pass the LSAT, complete law school, do approximately one year of ‘articling’, and complete the BAR process. Once all this is done, you can apply for a law firm and hopefully begin practicing law.

With an entry-level salary of $70,000 per year, being a corporate lawyer already puts you past the average Canadian earnings. However, there are reports of people earning well over $100,000 per year. While this is a lot, you can still earn more than what’s depicted above. Experience plays a huge role you earning more money. Furthermore, bonuses and opening your own practice can greatly increase your yearly salary.

Mining/Miner

A miner is quite different from the professions above. First, it’s a trade job and much more hands-on/physically intensive. As a miner, your main duties consist of extracting ores, metals, and various other materials from the earth. This can be done for coal and precious gems such as emeralds. Therefore, it goes without saying that this is a highly valuable and in-demand job. Becoming a miner is similar to other trade jobs. You need a grade 12 diploma. After that, you can go to various mining programs that are available in multiple colleges. Next, you need to finish an apprenticeship. Once that’s done you can begin looking for work as a miner.

In the beginning, you may not earn as much as you may anticipate. This is due to being new and the fact that apprenticeships don’t typically but as much as a fully licensed miner. However, above you can see a range of how much you can potentially earn as the years go by. Oddly enough there seems to be a drop off in pay at the 20+ year mark. However, at the peak in what’s reported, you will make $37 per hour or $75,000 per year. This, of course, does not include bonuses and the inevitable overtime.

Physician

Last on our list and what most of you probably predicted, a physician. Just like lawyers, being a physician or doctor is extremely prestigious, costs a lot of money, and take requires a lot of schooling. A physician, more specifically a physician of internal medicine, has many duties. This includes diagnosing and treating various diseases that can cause harm to internal organs.

Becoming a physician takes a considerable amount of time. First, you need to complete a 4-year undergrad in medicine or science. Once that’s done, you will need to shift over to medical school which is highly competitive. Let’s say you finish all of the schoolings. You will still need to complete a 1-year residency before becoming a fully licensed physician.

Above is the amount that you can earn from the start to 20+ years of experience. At the lowest amount, you can earn, on average, $102,000 per year which is the highest we’ve seen yet. As you gain more experience, your earnings drastically increase, going over the $200,000 mark. However, on average, you can expect to earn approximately $150,000 per year as a physician of internal medicine.

Shameed Chris Khan

Shameed is just a man on a mission to help those around him gain financial success. Obsessed with writing about all things finance, this GTA native is constantly learning and sharing his experiences with others.