Canadian salaries to increase by 3.6% in 2024

Highlights: Workers in Canada set to receive a raise in 2024

·         Canadian consulting firm Normandin Beaudry surveyed Canada to analyze the workers' wages. 

·         As per the survey, Canadian salaries are said to increase by 3.6% in 2024.

·         Around 700 companies in Canada were researched for the survey.

·         Certain specific sectors are likely to receive an increase in pay of up to 3.9% above the national average.  

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Results of the Normandin Beaudry survey

The Normandin Beaudry, an Ontario-based financial management consulting firm, conducted a survey and disclosed data. 700 companies were included in the survey, and it revealed that the workers employed in Canada will most likely get a 3.6% increase in their pay.

Given below are some of the critical findings of the survey:

·        Around 43% of the surveyed companies revealed plans of granting an additional average salary budget of one percent.

·         Sectors like STEM, Manufacturing, Accommodation and Food services, Real estate, and STEM sectors are said to get a 3.9% salary increment.

·         Provinces like Yukon, Quebec, British Columbia, and Ontario are said to see salary increments at or above the projected national average for 2024.

·         The remaining provinces and territories of Canada will receive wage increments that are slightly below the national average. 

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