Financial security is one of the most important things you can have. Therefore, when looking for a course to take in school, people consider their interests, the demand, and the salary of different professions.
Getting a well-paying job means not worrying about money as long as you have a job. So what is the most paying job in Canada?
Like many other countries, doctors or surgeons are the highest paid in Canada, with an average of between $236,000 and $676,000 annually. However, this depends on the field you decide to specialize in, your educational qualifications, and your experience.
Although Canada is among the most developed countries worldwide, the ratio of doctors to citizens is lower than in other countries like Norway, Australia, and the United States. That means that this field is the highest paying and has a high demand and lower competition.
Salary by province
Canada has a universal healthcare system, where every province or territory has a unified payment system for their doctors.
If you want to get the highest doctor’s salary in Canada, Alberta is where you should look for a job. The average doctor’s salary in the county is $380,384 annually and $32,031 monthly, which is above the national average and the average in any other province.
Unlike other provinces, doctors in Ontario determine how much they will charge and don’t have to disclose it. However, the average is about $360,000 per year and $30,000 monthly.
The Manitoba provincial government mandates that doctors must report their salaries to the public every year since they are considered public sector employees. The average salary for doctors in the province is around $354,705 annually and $29,558 monthly.
The salary for doctors in Quebec aligns with the national average, $325,000 per year. Although it’s not the highest salary in the country, many physicians feel that it is too much and want it distributed to other healthcare services.
The average salary for doctors in this province is around $302,123 per year. However, a recent provincial audit indicated that approximately 24 doctors made nearly $1 million annually.
Prince Edward Island
Doctors in this province are different from other regions because they can work extra time for more money. This is thanks to their fee-for-service system, which means that they get paid for their services. Their average salary is about $305,091, but many doctors use the opportunity provided by the system to earn more.
The provincial government in Saskatchewan has control over the money doctors make. They have put a cap on the maximum amount any doctor can charge for medical services covered by insurance. Their average annual salary is around $288,995.
The British Colombia government releases the Blue Book every year, which provides information about different medical professionals’ salaries. Their average salary is around $273,000 per year and $22,750 monthly.
Doctors in this province receive an average salary of $269,646 per year, among the lowest pay in Canada. The doctors have recently protested over the salary, saying it is not enough to cover their bills and live comfortably.
Doctors here receive an average annual salary of $259,368, the lowest in Canada. Although it’s higher than other professionals, doctors feel it’s not enough, and some say that they would not practice if they had not already committed themselves to the community.
Salary By specialization
The salaries in each province or territory depend on the services they provide. Some of the specializations include:
These professionals specialize in eye and vision care. They differ from opticians and optometrists by their level of training and what they can diagnose and treat. Their average annual salary is $791,000, making them the highest-paid medical practitioners in Canada.
Internal medicine physician
Also known as internists, these professionals diagnose, treat, and take care of adult patients in hospitals and ambulatory settings. They also attend to patients with chronic diseases like diabetes, hypertension, and heart disease.
Internal medicine physicians may further specialize in cardiology or infectious diseases. Their average salary is usually $464,759 annually.
Surgeons perform operations, and other duties include diagnosing the patients, attending to their needs after procedures, and preparing them for surgery. The average salary for general surgeons is $539,707 annually.
Cardiovascular surgeons get an average of $670,652, plastic surgeons $514,086, and neurosurgeons $602,130.
Family medicine physician
These professionals offer medical care to family members and are usually the first point of contact for most patients in the healthcare system. They care for their patients in hospitals, homes, offices, or other healthcare facilities.
Family medicine physicians are experts in diagnosing various health problems and treating adults and children. Their average salary in Canada is $281,000 per year.
These professionals have specialized in diagnosing, treating, and taking care of children. They are experts in pediatric surgery, pediatric cardiology, neonatology, and hematology. Their average salary is around $361,623 per year.
Obstetrician and gynecology physician
An OB-GYN specializes in issues with the female reproductive system and pregnancies. Their duties include assisting women in labor and addressing their reproductive health concerns. Their average salary in Canada is around $472,548 per year.
Neurologists specialize in diagnosing and treating diseases on the spinal cord, brain, muscles, and peripheral nerves. Their average salary is $356,913 per year.
These doctors specialize in issues with the skin, hair, and nails. Their average salary is $457,191 annually.
Private vs. Public Sector
The environment that doctors choose to work in is another factor that determines their salary. When working in hospitals or other large medical facilities, the average annual salary is lower than working in their private medical practices.
If doctors open their clinics, they can decide how much they pay themselves and can also have other forms of compensation. However, private practice poses higher risks because doctors are the ones who pay for all the bills and have to comply with all the laws and regulations.
The medical field is a well-paying field, but you have to be determined and committed to going through all the steps before you start working.
You also have to choose an area of specialization that you are interested in and good at to ensure that you continue researching and learning, which increases your chances of promotions.