More green in 2015: Calgary with highest projected salary increases in Canada
Posted Aug 26, 2014 4:39 pm.
This article is more than 5 years old.
It’s the latest sign Alberta’s economy is leading the way in our country and Calgary is out in front.
According to the Hay Group’s annual projection of salary increases, Cowtown is expected to have the highest salary increase in the country in 2015 at 3.2 per cent.
As a province, Alberta is the highest at 3.1, followed by Saskatchewan at 2.9 and the Canadian average is 2.6.
Hay Group Practice Leader for Compensation for Western Canada, Nick Bishop, said unsurprisingly oil and gas played the biggest role and those who aren’t in the industry may not see similar increases.
“However having said that, if you look at the numbers across the whole of Canada at 2.6 per cent and there is a premium in oil and gas, but nevertheless in Calgary, even for non-oil and gas sectors, there’s generally a little more heat in the salary market than you would find in other provinces,” he said.
Other sectors of note include mining and finance.
Canada is well behind countries like India at 10.7 per cent and China 8.2 per cent, but Bishop said those countries have other countries Canada doesn’t, such as major inflation and very low base wages.
Alberta’s projection was 3.6 in 2013 and 3.2 for 2014, but Bishop said that isn’t alarming because it’s a reflection of the national economy and salaries can’t constantly be going up.
He said all in all, Calgary is the place to be when it comes to finding not just a job, but sustaining a career.
“That’s the important thing, I think it’s not just how much your pay is going up, but do you have a sustainable career and job going for the long term,” Bishop said.
2015 projections:
Alberta-3.1% (Calgary-3.2)
Saskatchewan-2.9% (Saskatoon-3.0)
B.C.-2.6 %
Quebec-2.6%
Newfoundland-2.6& (St. John’s-3.1
Ontario-2.5%
Manitoba-2.4%
Maritimes-2.1%
Canada-2.5%
