The average accountant salary in Canada is $56,266 per year or $28.85 per hour. Entry-level positions start at $45,823 per year, while most experienced workers make up to $75,000 per year.
Introduction
Average Financial Auditor’s and Accountant’s Salary in Canada
The table below details the hourly wages for Financial Auditors and Accountants.
The Canadian national occupation classification code (NOC) for this role is 1111.
Job titles and exact duties vary in this occupation and examples of some job titles are: accountant, auditor, CA (chartered accountant) and income tax expert.
According to the latest figures, the highest hourly average wages are earned in Ottawa – Ontario at $38.98 per hour and the lowest average wages are earned in Winnipeg – Manitoba at $29.74 per hour.
A typical full-time annual salary for this occupation is in the region of $60,000 – $80,000.
Government data indicates that the labour market for this occupation is expected to remain balanced for the near future. Retirements will be the main source of job vacancies in this position.
Average Hourly Wages for Financial Auditors and Accountants in Canada
| Location | Low Wage $ per hr | Average Wage $ per hr | High Wage $ per hr | Year |
|---|---|---|---|---|
| Calgary – Alberta* | 23.84 | 37.98 | 81.61 | 2019 |
| Edmonton – Alberta* | 20.98 | 32.93 | 61.48 | 2019 |
| Vancouver Island & Coast – British Columbia | 19.25 | 32.48 | 52.20 | 2018 |
| Winnipeg – Manitoba | 17.46 | 29.74 | 51.28 | 2018 |
| Fredericton / Oromocto – New Brunswick | 16.59 | 30.05 | 38.46 | 2018 |
| Halifax – Nova Scotia | 18.75 | 30.99 | 50.82 | 2018 |
| Toronto – Ontario | 19.71 | 33.65 | 62.50 | 2018 |
| Ottawa – Ontario | 23.08 | 38.98 | 56.25 | 2018 |
| Windsor / Sarnia – Ontario | 20.19 | 35.00 | 60.00 | 2018 |
| Kitchener / Waterloo / Barrie – Ontario | 20.19 | 35.00 | 60.00 | 2018 |
| Prince Edward Island | 15.87 | 31.79 | 46.15 | 2018 |
| Montreal – Quebec | 19.23 | 31.25 | 57.69 | 2018 |
| Saskatoon / Biggar – Saskatchewan | 20.00 | 34.13 | 55.38 | 2018 |
Examples of duties for accountants include the following:
›› Preparing financial statements and reports for clients
›› Ensure compliance with tax legislation
›› Advising on financial aspects of businesses such as budgets, tax and cashflows
Examples of duties for financial auditors include the following:
›› Studying the accounting methods of business clients
›› Conducting field audits of businesses to ensure compliance with provisions of the Income Tax Act, Canadian Business Corporations Act or other statutory requirements
Visa
Currently, this occupation is an eligible occupation for express entry immigration with the federal skilled worker permanent resident visa.
Number in employment
There are over 190,000 financial auditors and accountants working in Canada.
Comparison with employment group
The 2020 full-time average hourly wage rate for professional occupations in business and finance, which includes financial auditors and accountants, is $39.57. The 2020 corresponding median weekly wage rate is $1,400, giving an approximate full-time annual salary for this employment group of $73,000.
The average salary for accountants in Canada is around $70,000.
The range of salaries for accountants in Canada is wide. While some accountants make as little as $25,000 per year, others make nearly $100,000. It all depends on how much experience you have and what type of job you are looking for.
Accountants who work at larger companies tend to earn more than those who work at small firms. Bigger companies usually have more clients, which means more opportunities for work and higher revenue.
Accountants in Canada make an average of $60,000 USD per year.
Accountants in Canada earn an average of $60,000 USD per year. This is higher than the average salary for accountants in the United States ($50,000 USD) and significantly lower than salaries for accountants in other countries such as Australia ($90,000 USD), New Zealand ($95,000 USD), and the United Kingdom ($85,000 USD). Accountant salaries are also higher than average salaries for other careers in Canada.
Conclusion
The higher salaries offered to certified accountants in Canada provide many people with an incentive to become a chartered accountant. Of course, those who are studying this field must realize that there is an exam to pass before they can make the jump to CPA. However, for those who are willing to work hard and put in the effort, there are many benefits to following this career path.
