Highest paying jobs in Toronto

Toronto is one of Canada’s main business centers. There are countless career opportunities here. However, even among these, several stand out. Certain jobs stand out for their lucrative paychecks. These highest paying jobs in Toronto can be found primarily in technology. Other notable industries include finance, medicine, and legal. Many people in Canada looking to move somewhere in pursuit of a career tend to book a move with the movers in Canada and move to Toronto. Finding a good job in Ontario’s most important city gets easier due to its dynamic job market. We’re here to tell you all about these profitable professions. Lastly, we will also give you useful advice regarding the sectors you should consider pursuing your career in.

What are the highest paying jobs in Toronto?

We already mentioned that the highest paying jobs in Toronto are usually the ones that have to do something with technology. This includes software development, data science, and the IT industry. As in every big urban city, professions in finance and legal counseling are also prominent. What’s more, engineering and medicine tend to be among the more popular and lucrative sectors within the City of Toronto. All of these sectors have high-paying roles. However, we must insist on the fact that the highest paying ones are the manager and senior roles. These roles stand out in these professions due to factors like experience and specialty. With this information out there, here are the most lucrative professions in Toronto:

• Software development manager
• Financial manager
• Data scientist
• Medical specialist
• Engineering manager
• IT director
• Senior legal counsel

Due to Toronto’s robust job market, many people are considering moving here from the surrounding area. With that being said, moving to Ottawa from Toronto is one of the more common relocations. People do this in pursuit of higher salaries and, coincidentally, in pursuit of a better life.

The highest paying jobs in Toronto require a lot of experience.

Software development manager

You must have significant experience in software development to get a job as a software development manager. Typically, people begin their careers as regular engineers or software developers. After that, they work their way up to managerial roles to reach this role. This is done through years of experience and proven leadership abilities. Also, you need a strong educational background in software engineering or a related field. Most of the employers prefer people with a Master’s degree in these areas. However, a Bachelor’s degree coupled with significant experience can also be sufficient.

In terms of pay, a software development manager in Toronto may expect to make a rather good living. You could say that it represents the need for this skill set and the obligations of the position. A software development manager typically makes between CAD 116,000 and CAD 154,000 per year. Pay raises are conceivable occasionally. Salary levels can be very high, especially in larger companies or highly competitive industries. Furthermore, bonuses and other forms of compensation are typical in this line of work.

Financial manager

To become a financial manager, having a degree in business administration or a related field is a must. You can also have a degree in accounting, finance, or economics. Generally, a bachelor’s degree is the minimum requirement for this role. However, having a Master’s degree in finance or business administration can be a game-changer.

Financial managers are the pillars of the finance sector, so it’s no wonder why this role is one of the highest paying jobs in Toronto.

It will not be simple for you to apply for a job as a financial manager. It is not just about a solid academic foundation. You also need a great deal of expertise in accounting or finance-related professions. You will advance into a managerial position after approximately 5 to 10 years of prior experience in the industry. Additionally, you can increase your chances of getting hired by obtaining various credentials such as:

• Certified management accountant
• Chartered financial analyst.

Even though you may not have an easy time getting the position of financial manager in Toronto, you will surely have an easy time moving from Winnipeg to Ottawa with our assistance. Regarding remuneration, the sum of the earnings of financial managers regularly varies from CAD 84,000 to $120,000 as well. The workers with higher skill levels and professional experience can realize the discrepancy in wage level even higher. Among those, salary, bonuses and other types of remuneration can result in total annual earnings that are twice or more than the standard CAD 130,000. This is especially certain in high-demand industries or large organizations.

Data scientist

To work as a data scientist, you will usually need a Master’s degree in data science, statistics, or computer science. Similar disciplines are also on the table or a similar discipline. However, companies are increasingly taking into account people with a bachelor’s degree. People who have significant real-world experience or unique certificates are in this group. Furthermore, these people have experience with data analysis tools and programming languages. Most notable tools include Python, R, and SQL.

It should come as no surprise that Toronto data scientists demand big salaries. More experienced professions can pay up to CAD 120,000 per year, while entry-level positions may start at roughly CAD 80,000. Even higher incomes are possible for senior data scientists and those with specific knowledge in in-demand industries. They can occasionally surpass CAD 130,000 annually. Data scientists are very much appreciated in Toronto. If you are one, rely on Canadian moving services to easily move here and start chasing your career in data science.

Medical specialist

In Toronto, a doctor who has had more training in a particular branch of medicine, such as cardiology, neurology, oncology, or pediatrics, in addition to their basic medical education, is referred to as a medical specialist. Deep knowledge and proficiency in the diagnosis, treatment, and management of illnesses and ailments within their specialized field are required for this advanced function.

Medical specialists have high salaries, no matter their specialty.

Upon completion of a four-year medical degree program, candidates are required to go through residency training in their specialty of choice. Depending on the specialty, residency programs might last anywhere from three to seven years. One to three more years of training may be necessary for certain disciplines to pursue further sub-specialization through fellowship training.

Fun fact, people often get medical degrees in smaller cities such as Ottawa, since it’s more affordable to live there during their studies. Then, these same people move to Toronto with the help of the long distance movers in Ottawa and get themselves a high-paying job in the medicine sector. According to the Ontario Medical Association and Canadian Institute for Health Information, Medical Specialists in Ontario can expect a wide range of incomes. In general, specialists in Canada can earn from around CAD 150,000 to over CAD 500,000 annually. The average base salary is CAD 242,538.

Engineering manager

The role of an engineering manager is a mix of technical expertise, leadership, and management skills. It requires an individual to guide teams of engineers and to make sure projects meet specifications and deadlines. The position demands a deep understanding of engineering principles and project management. Most importantly, engineering managers need to have effective communication skills to liaise between technical teams, stakeholders, and clients.

Leadership ability and a track record of successful project management are also a must for an engineering manager.

Experience in engineering and proven technical skills are vital for Engineering Managers in Toronto. Their annual salaries generally fall between CAD 120,000 and CAD 169,000. However, several factors can impact earnings, including industry, company size, experience, and project complexity. For example, those in high-tech, construction, or manufacturing can earn up to CAD 200,000 annually. After gaining practical experience as an engineer, candidates often pursue further education. Higher education often involves a Master’s degree in engineering management or an MBA, although this is not always mandatory.

IT director

An IT director in Toronto holds a strategic position within the realm of information technology, steering the organization’s IT infrastructure and digital strategy. This role encompasses:

• overseeing the development and implementation of IT systems
• managing the IT department’s budget and personnel
• aligning the company’s technology strategy with its overall business objectives.

An IT director must possess a broad understanding of technology trends and the leadership skills necessary to inspire and guide a diverse team of IT professionals.

The job of an IT director is not an easy one, but it sure is lucrative.

To be considered for this position, a bachelor’s degree in IT, CS, or related fields is required. Similarly, it is normal for practitioners in this area to have a master’s degree in business administration, especially with an MBA focusing on IT. The emergence of digital marketing in consumer conduct is multi-faceted. It delivers not only a channel but a whole loop for both active and passive content interaction that businesses can use to communicate with consumers on a more personal level, greatly ensuring the efficiency and cost-effectiveness of communications.

Experience in IT with authority for 10 years is preferred, not just academic achievements. The decision regarding how much an IT director in Toronto should be paid recognizes how crucial the job is and also the experience required to be the best. In Toronto, the salary range for an IT Director is typically between CAD 128,000 and CAD 160,000 per year. However, in large companies or highly profitable industries, an IT director’s compensation can sometimes surpass CAD 200,000. With this salary, you will easily find and afford a home in Toronto.

Senior legal counsel

A senior legal counsel in Toronto occupies a crucial role within the legal departments of corporations, government agencies, or non-profit organizations. This position involves:

• providing expert legal advice
• guiding strategic decision-making
• managing legal risks
• overseeing the organization’s legal affairs

To reach the position of senior legal counsel, a person must first obtain a law degree (Juris Doctor or Bachelor of Laws) followed by passing the bar exam in their jurisdiction. This educational foundation is just the beginning. Prospective senior legal counsels typically accumulate years of legal experience. They often start as a junior lawyer in a law firm or in-house legal department, and gradually advance through roles. Specialization in areas relevant to their employer’s industry—such as corporate law, intellectual property, labor law, or international law—enhances their expertise and value to the organization.

Senior legal counsel is one of the highest paying jobs in Toronto for a reason.

The country-wide pay for legal attorneys has been given between CAD 156,000 and CAD 222,000 since 2015, the difference can be observed based on industry, size of the organization, and an individual’s background. In the market of law, lawyers in high-demand areas such as finance, science, and technology seem to have much higher salaries than others. Besides, senior legal counsels might be paid more than others, such as bonuses, stock options, or various benefits, resulting in more enrichment of the overall package. With this high compensation, over time, you will even be able to afford and find a second home in Toronto with the money you earn.

The highest paying jobs in Toronto

Finding a job in Toronto can make a huge difference in your everyday life. To reach the domain of the highest paying jobs in Toronto, you first need to reach the city itself. Who better to assist you in this endeavor than the cross country moving companies in Canada? There are several aspects that all of the highest paying jobs in Toronto have in common. Each role commands an annual salary of over CAD 100,000 except for the role of a financial manager. With bonuses included, these salaries can get up to %20 higher. It is also important to mention that to reach any of these high-paying jobs, a person usually needs to have years of experience in that field. The higher your education level is, the more likely it is for you to get to these high-ranking positions.