Average Salary in Ontario – 2024 Breakdown by City and Industry

Ontario stands as Canada’s most populous province and its economic engine, home to diverse industries ranging from manufacturing and technology to finance and healthcare. Understanding salary expectations in the province requires examining multiple data points, including provincial averages, regional variations, industry-specific compensation, and how earnings compare against the cost of living. This comprehensive breakdown draws from official government statistics, national surveys, and wage reports to provide a current picture of compensation across Ontario in 2024.

Whether relocating for work, negotiating a job offer, or simply researching career opportunities, knowing what constitutes a competitive salary in Ontario can make a significant difference in financial planning and career decisions. The data reveals considerable variation depending on location, occupation, experience level, and demographic factors.

What is the Average Salary in Ontario?

The average salary in Ontario for 2024 stands at $70,160 per year, based on full 12-month data from 2023. At the hourly level, Ontario employees earned an average of $36.01 per hour during the first quarter of 2024, representing a 5.8% increase from the same period in 2023. This figure exceeds the national average hourly wage of $35.20 across Canada.

Key Insights on Ontario Salaries

• Real wage growth has been substantial over time, with average hourly wages increasing from $28.88 in 1997 to $34.63 in 2023
• Regional concentration matters: Toronto and Ottawa offer higher wages but come with significantly elevated costs of living
• Ontario ranks in the middle tier among Canadian provinces for average individual income, behind Alberta, Saskatchewan, and British Columbia
• Gender disparity persists: Females earn approximately 24% less than males on average, with females averaging $47,600 compared to males at $63,000
• Health sector leads growth: Health occupations showed the strongest year-over-year wage increase at 7.9% in Q1 2024
• Managerial positions dominate: The highest-paying roles are consistently in financial services, insurance, and senior management sectors

Snapshot of Key Salary Metrics

Average Salary in Ontario by City

Salary levels in Ontario vary considerably depending on the city or census metropolitan area. Major urban centers such as Toronto, Ottawa, and Oshawa tend to offer higher compensation, while smaller cities may offer lower average salaries balanced against more affordable living costs.

Median Household Income by Major City

Median household income provides a clearer picture of typical earnings, less affected by extreme high earners than average figures. The following data represents the most recent census metropolitan area figures:

Toronto’s median household income of $97,000 reflects its status as Canada’s largest metropolitan area and financial hub. However, the city’s average individual income stands at $56,700, considerably lower than the provincial average. This gap occurs because household income captures multiple earners and is heavily influenced by high-income households.

Cost of Living Considerations

Salary figures alone do not capture the full picture of financial wellbeing. The cost of living varies dramatically across Ontario cities:

Toronto’s notably higher costs mean that a salary adequate in Ottawa or Kingston may fall short in Canada’s largest city. For those considering relocation, the Places to Visit in Toronto – Top Attractions and Itineraries guide offers insight into neighborhood characteristics that affect day-to-day living expenses.

What is a Good Salary in Ontario?

Defining what constitutes a “good” salary in Ontario depends heavily on location, household composition, and individual circumstances. The living wage provides a more meaningful benchmark than the minimum wage, representing what workers actually need to meet basic needs including housing, food, transportation, and healthcare.

Understanding the Living Wage

The living wage in the Greater Toronto Area stands at $25.05 per hour, equivalent to approximately $45,591 annually for a full-time worker logging 35 hours per week. This figure sits well above Ontario’s minimum wage of $17.20 per hour, the highest in Canada.

Salary Quality Benchmarks

Based on cost-of-living data and earning distributions, the following thresholds offer practical benchmarks for evaluating salary offers in Ontario:

• Entry-level threshold: $40,000–$50,000 annually (covering basic needs outside major urban centers)
• Comfortable threshold: $60,000–$80,000 annually (enabling savings and modest discretionary spending)
• Affluent threshold: $100,000+ annually (supporting homeownership in major cities and significant savings)
• Single earner family threshold: $70,000+ annually in Toronto, $55,000+ in smaller cities
• Two-income household: Combined earnings of $80,000–$100,000 typically needed for family financial security in urban areas

Average Salary by Industry in Ontario

Ontario’s diverse economy spans manufacturing, technology, financial services, healthcare, and natural resources. Wage levels vary dramatically by sector, with managerial and financial positions commanding the highest compensation.

Highest-Paying Occupations

According to Job Bank Canada’s wage report for Ontario, the following occupations offer the highest compensation:

• Insurance, real estate and financial brokerage managers: $41.03–$108.17/hour
• Banking and investment managers: $38.46–$96.15/hour
• Financial managers: $40.87–$91.35/hour
• Human resources managers: $39.90–$87.91/hour
• Senior managers (construction, transportation, production): $24.00–$105.69/hour

Wage Growth by Sector

Year-over-year wage growth during Q1 2024 showed significant variation across occupational groups:

Health occupations experienced the strongest wage growth at 7.9%, reflecting ongoing demand for healthcare workers following the pandemic period. The only sector to show decline was arts, culture, recreation, and sport, which fell by 0.5%.

How Does Ontario’s Average Salary Compare?

Ontario ranks in the middle tier among Canadian provinces for average individual income. Understanding how the province compares to other regions helps contextualize earning potential and regional economic conditions.

Provincial Comparison

Alberta leads the provinces with an average annual salary of $74,237, followed by British Columbia at $66,232. Ontario’s average of $63,369 places it fifth nationally, ahead of Quebec and the Maritime provinces but behind western Canadian jurisdictions.

National Context

Nationally, Statistics Canada reports that after adjusting for inflation, average hourly wages in 2024 were up 5.0% compared with pre-pandemic 2019 levels and up 18.4% compared with 2006. This long-term growth reflects broader economic trends while also acknowledging that cost-of-living increases have outpaced wage growth in many urban markets.

Salary Trends Over Time

Ontario’s wage trajectory shows consistent growth over the past several decades, though the pace has varied with economic cycles, policy changes, and shifting labour market conditions.

1. 1997: Real average hourly wage of $28.88 in Ontario
2. 2019: Pre-pandemic wage levels showing steady post-recession recovery
3. 2023: Real average hourly wage reached $34.63, representing significant cumulative growth
4. Q1 2024: Average hourly wage of $36.01, marking a 5.8% year-over-year increase
5. 2024 projected: Continued growth expected, though inflation and interest rate impacts remain factors

The growth from $28.88 to $34.63 represents a 20% increase in real wages over 26 years, though this figure masks significant variation across industries, regions, and demographic groups.

Data Clarity: What We Know and What Remains Unclear

Different sources report varying figures depending on methodology, survey timing, and definitions of compensation. Average figures include all workers regardless of full-time status, while median figures better represent typical earnings.

Factors That Influence Earnings in Ontario

Multiple interconnected factors determine individual salary levels across Ontario. Understanding these variables helps workers negotiate effectively and make informed career decisions.

Location remains one of the most significant determinants, with major metropolitan areas offering higher nominal salaries but also higher costs. Industry selection carries substantial weight, as financial services, technology, and healthcare consistently outperform retail, hospitality, and service sectors. Experience level and educational attainment continue to correlate strongly with compensation, though credential inflation has reduced the premium for general degrees.

Demographic disparities persist despite overall wage growth. Statistics Canada notes that wages remain lower among women, younger employees, Indigenous peoples, and several racialized groups, reflecting ongoing systemic inequities in the labour market.

Summary

Ontario’s average salary of $70,160 annually positions the province as a mid-tier earner nationally, behind Alberta and British Columbia but ahead of Quebec and the Maritime provinces. The average hourly wage of $36.01 represents solid year-over-year growth of 5.8%. However, significant variations exist by city, industry, gender, and occupation. Toronto and Ottawa offer the highest compensation but also the highest living costs, while the gender wage gap of approximately 24% highlights ongoing disparities requiring attention. Workers evaluating opportunities should consider the full picture of compensation, benefits, and cost of living rather than salary figures alone.

Frequently Asked Questions