In 2026, the average annual salary in Toronto is expected to reach CAD $75–$80,000. But how much more do you really need to earn to live comfortably in Canada’s largest—and most expensive—city?
In this guide, we break down Toronto’s job market outlook and expected salaries by industry and experience level. We’ll also explore how much of your salary you can expect to take home after taxes and what that means when stacked against the city’s high cost of living.
And if you need to send money in or out of Canada, the Remitly app makes it easy. With just a few taps, you can make secure transfers—whether you’re settling into life in Toronto or supporting loved ones back home.
Toronto’s job market landscape in 2026
Toronto and the Greater Toronto Area (GTA) are among the most attractive regions in Canada for people seeking job opportunities and a high quality of life. In 2023–2024 alone, the GTA’s population grew by 269,000, reaching over seven million residents. This surge is driven by both internal migration and international newcomers.
Toronto attracts job seekers as Canada’s largest business hub, home to major financial and corporate headquarters, along with a thriving startup scene. Although the growing population has put pressure on the job market and led to higher unemployment, job creation is also increasing.
Salaries remain competitive in high-demand fields like fintech, artificial intelligence (AI), and healthcare technology, where companies are actively competing for talent. At the same time, demand is rising for skilled trades and service roles—from electricians to hairdressers.
Salary growth in Toronto has outpaced inflation since 2022. In 2026, wages are expected to rise by 3.1% to 3.5% across most sections. This growth is partly fueled by Ontario’s Pay Transparency Act, which takes effect in January 2026 and will require employers to include expected salary ranges in all public job ads—potentially leading to higher offers across the board.
Average Toronto salary breakdown by industry
The current average base salary in Toronto is CAD $75,404. However, there’s significant variation across industries. High-demand fields like technology command much higher pay, while the minimum wage remains at CAD $17.60 per hour.
All salaries discussed are given in Canadian dollars, based on data from Salary Expert.
Technology
Toronto is North America’s third-fastest-growing technology hub, being a home to both established companies and a vibrant startup scene. Key strengths include AI, fintech, and healthcare technology.
There’s especially a strong demand for professionals in cloud computing, cybersecurity, and digital transformation, along with roles like AI analysts and ML engineers. Tech salaries in Toronto are 17% higher than the national average, with projected growth of 3% to 4% in 2026.
| Role | Average Base Salary | Range |
| Software developers | $141,832 | $99,126–172,177 |
| Cloud computing developer | $145,010 | $101,199–180,271 |
| Cybersecurity analyst | $143,728 | $101,182–178,239 |
| AI engineer | $144,303 | $139,000–156,000 |
| ML engineer | $155,506 | $132,609–320,000 |
| Digital transformation consultant | $132,733 | $84,836–278,647 |
Healthcare
Toronto’s growing and aging population continues to drive demand for healthcare professionals. In addition to doctors and nurses, there’s a strong need for personal support workers and allied health professionals, including physiotherapists and occupational therapists.
The city is also a major research hub, offering roles in pharmaceutical manufacturing and health care technology. Healthcare salaries in Toronto are approximately 8% higher than the national average, with projected increases of around 2.25% in 2026.
| Role | Average Base Salary | Range |
| Doctors | $260,000 | $190,000–600,000 |
| Surgical specialist | $589,042 | $217,200–603,511 |
| Registered nurse | $101,497 | $71,968–125,661 |
| Emergency room nurse | $97,852 | $71,438–130,267 |
| Licensed practical nurse | $63,513 | $49,485–66,326 |
| Healthcare administrator | $125,725 | $88,253–156,042 |
| Pharmaceutical worker | $99,601 | $46,103–129,285 |
| Medical laboratory technologist | $86,199 | $63,602–109,587 |
| Healthcare technologist | $93,249 | $61,911–106,283 |
Finance
Toronto is Canada’s leading financial hub, home to many of the country’s top banks, investment firms, and insurance providers. In-demand roles include fintech professionals, financial analysts, investment bankers, and tax specialists.
Finance salaries in Toronto are roughly 8% higher than the national average, with projected increases of 3.1% to 3.7% in 2026.
| Role | Average Base Salary | Range |
| Accountant | $99,412 | $54,602–153,179 |
| Financial analyst | $123,216 | $64,666–149,180 |
| Investment banker | $183,381 | $93,651–172,735 |
| Risk manager | $123,587 | $86,664–179,056 |
| Income tax specialist | $105,727 | $50,917–163,136 |
Education
Toronto is Canada’s largest hub for education and research, employing around 100,000 people across all levels of learning. Opportunities span elementary, secondary, and post-secondary education.
There’s also demand for early childhood educators, child and youth workers, and professionals in student support services.
| Role | Average Base Salary | Range |
| Elementary school teacher | $75,536 | $41,600–125,715 |
| Secondary school teacher | $78,506 | $59,978–102,735 |
| University professor | $131,627 | $92,261–230,000 |
| Education administrator | $125,254 | $87,759–155,747 |
| Early childhood educator | $47,242 | $36,000–62,000 |
Skilled trades
Several skilled trades are in high demand across Toronto, driven by the city’s ongoing growth and development. According to the Government of Canada’s employment website, the most in-demand trades nationwide between 2024 and 2028 include cooks, hairstylists, welders, industrial electricians, and industrial mechanics.
In Toronto specifically, there’s additional demand for carpenters, painters and decorators, and refrigeration and air conditioning mechanics.
| Role | Average Base Salary | Range |
| Line cook | $37,681 | $30,000–40,000 |
| Kitchen chef | $70,536 | $51,522–100,931 |
| Hairstylist | $43,099 | $35,775–50,905 |
| Certified welder | $56,069 | $42,038–67,764 |
| Industrial electrician | $76,731 | $60,000–116,000 |
| Industrial mechanic | $82,514 | $57,652–97,243 |
| Carpenter | $65,391 | $42,267–88,074 |
| Painter and decorator | $39,149 | $36,607–45,801 |
| Refrigeration and air conditioning technician | $69,000 | $49,853–73,063 |
Service industry
Toronto’s booming social scene drives high demand for service industry workers in retail, hospitality, and customer service. Entry-level roles earn about 5% more than the national average, while management positions pay roughly 12% more.
| Role | Average Base Salary | Range |
| Retail cashier | $35,775 | $26,302–35,775 |
| Retail manager | $80,424 | $57,845–99,081 |
| Retail marketing manager | $91,368 | $59,362–138,073 |
| Hospitality aid | $52,878 | $35,776–60,320 |
| Hospitality manager | $73,508 | $52,855–90,003 |
| Hotel receptionist | $41,856 | $35,775–49,487 |
| Hotel manager | $189,996 | $130,502–237,418 |
Range and experience level
Many jobs in Toronto offer a broad salary range, and your exact earnings often depend on your level of experience. Under Ontario’s Pay Transparency Act, employers must now include expected salary ranges in job postings—for example, listing a role at CAD $55,000 to $60,000 per year.
If you have fewer than two to three years of experience, you’ll likely be considered entry level and can expect to start near the lower end of the range. As your experience grows, so does your leverage to negotiate a higher salary within—or even above—that published range.
Paid time off
Your salary is just one part of your overall compensation package, which often includes benefits like healthcare, parental leave, and paid time off (PTO). In Toronto, the minimum includes 10 flexible PTO days per year, plus nine public holidays.After five years with the same employer, your vacation entitlement increases by five additional days, and some companies offer more than the legal minimum. Part-time employees are also entitled to paid time off, calculated proportionally based on hours worked.
Understanding your take-home pay
Your full salary isn’t the same as what you take home each month. In Canada, deductions for federal and provincial income tax, Canada Pension Plan (CPP) contributions, and Employment Insurance (EI) premiums will reduce your paycheck.
Your employer withholds these amounts automatically, based on your estimated annual income. After the year ends, you file your taxes by April 30, which may result in a refund if you qualify for deductions or credits.
Canada’s tax system is progressive, meaning the more you earn, the higher your tax rate. Federal and Ontario provincial tax brackets are slightly different, as outlined below.
| Tax Tier | Federal | Provincial (Ontario) |
| Basic personal amount | $16,129 (tax-free) | $12,757 (tax-free) |
| Tier 1 | 15% on income up to $57,375 | 5.05% on income up to $52,886 |
| Tier 2 | 20.5% on income up to $114,750 | 9.15% on income up to $105,775 |
| Tier 3 | 26% on income up to $177,882 | 11.16% on income up to $150,000 |
| Tier 4 | 29% on income up to $253,414 | 12.16% on income up to $220,000 |
| Tier 5 | 33% on income over $253,414 | 13.16% on income over $220,000 |
| CPP (pension contribution) | 5.95% (capped annually) | – |
| EI (employment insurance) | 1.63% (capped annually) | – |
Toronto workers—especially those in higher income brackets—pay more tax than residents in many other parts of Canada. Calculating your exact take-home pay can be tricky, but tools like Talent.com’s tax calculator can help.
Here’s a breakdown of estimated deductions for different salary levels in Toronto:
| Salary | Annual Take-Home Pay | Monthly Take-Home Pay | Federal Tax | Provincial Tax | CPP | EI |
| $40,000 | $29,554 | $2,462 | $5,400 | $2,333 | $2,081 | $632 |
| $80,000 | $56,777 | $4,731 | $12,778 | $5,992 | $3,500 | $953 |
| $150,000 | $98,331 | $8,194 | $29,857 | $17,360 | $3,500 | $953 |
Toronto salary vs. cost of living
Toronto is consistently ranked as one of the best cities in the world for quality of life—but it’s also one of the most expensive. So, is it realistic to live in Toronto on an average salary? The short answer: yes, but it depends on your income and lifestyle.
According to LivingCost.Org, a single person needs about $2,560 per month to live comfortably in Toronto, and a family of four needs $5,581.
Given that the average monthly take-home salary is approximately $4,465, many earners will find Toronto affordable—especially those earning above the city’s median wage. However, individuals earning closer to $40,000 annually may find their budget more constrained.
| Expense | Single Person | Family of Four |
| Overall cost of living | $2,560 | $5,581 |
| Rent and utilities | $1,555 | $2,427 |
| Food | $621 | $1,638 |
| Transportation | $249 | $632 |
Buying property in Toronto is significantly more difficult. The average price for a detached home exceeds $1 million, making the 10% minimum down payment—around $100,000—out of reach for many buyers.
The Canadian government does offer first-time homebuyer programs that may help. For more guidance, read our guide to renting an apartment in Canada.
You can also explore helpful budgeting tools for newcomers to Canada.
Find your ideal job in Toronto
Toronto’s jobs market is vibrant and diverse, offering strong opportunities in technology, finance, and healthcare, with large companies and startups competing for talent. There’s also consistent demand for skilled trades and service workers to support the city’s ongoing growth. However, due to high migration levels and increased competition, finding the right role can be challenging—particularly for newcomers. The City of Toronto provides helpful resources for job seekers, including support with credential recognition and guidance on how to present international experience in the Canadian job market.
Negotiating a fair salary starts with knowing the going rate for your role. Use this guide to better understand Toronto salaries in 2026, and be sure to check out our full Canadian salary guide for broader insights.
FAQs
What is a good salary in Toronto in 2026?
To live comfortably as a single person in Toronto, a salary of around $60,000 is generally considered sufficient. For a family of four, a combined household income of at least $85,000 is typically needed to cover living costs and enjoy a reasonable quality of life.
How do salaries in Toronto compare to other parts of Canada?
Salaries in Toronto are approximately 14% higher than the Canadian national average. Employers in the Ontario capital often offer higher compensation to offset the city’s higher cost of living. Professionals in competitive industries like AI and fintech can often command premium salaries due to intense demand for skilled talent.
What is the minimum wage in Toronto?
As of October 2025, the minimum wage in Toronto is $17.60 per hour. For full-time workers, that amounts to an annual wage of about $34,000 per year before tax. However, this remains below the city’s estimated livable wage, which is closer to $26 per hour.