Toronto is Canada’s largest city and its financial capital. It also has some of the highest salaries — and the highest costs — in the country. Here is what you can realistically expect to earn in Toronto in 2026, and how far that money actually goes.
Average Salary in Toronto by Sector
- Technology / Software development: $95,000–$140,000
- Financial services / Banking: $75,000–$120,000
- Engineering: $80,000–$115,000
- Healthcare (physicians): $200,000+
- Healthcare (nurses): $75,000–$95,000
- Marketing / Communications: $60,000–$90,000
- Human resources: $55,000–$85,000
- Accounting / Finance roles: $65,000–$100,000
- Legal (lawyers): $80,000–$160,000+
- Retail management: $45,000–$65,000
- Administrative: $42,000–$60,000
- Construction trades: $65,000–$90,000
Overall Average
The average salary across all full-time occupations in Toronto is approximately $72,000–$80,000. The median (more representative of a typical worker) is closer to $65,000–$70,000.
Does Toronto Pay More Than Other Canadian Cities?
Yes — but not always enough to compensate for its higher costs. Toronto salaries tend to run 10–20% higher than national averages in most sectors. However, Toronto’s housing costs are 40–60% higher than mid-sized cities like Ottawa or Hamilton.
The net result: a $75,000 salary in Toronto often provides less financial comfort than a $65,000 salary in Calgary or Ottawa.
New Immigrant Salaries in Toronto
Recent immigrants in Toronto typically start 15–25% below the average for their occupation in the first 1–2 years. Key reasons:
- Credential recognition delays in regulated professions
- Lack of Canadian work references
- Language or communication style differences
- Starting in lower-level roles while building local networks
The gap closes significantly after 2–3 years of Canadian work experience, particularly in tech, engineering, and finance.
Salary vs. Cost of Living: The Real Picture
After Ontario income tax, CPP, and EI, a $72,000 salary in Toronto leaves approximately $51,000–$53,000 take-home annually. With average one-bedroom rent at $2,300–$2,800/month, housing alone consumes $27,600–$33,600 of your take-home. That leaves roughly $17,000–$25,000 for everything else per year — groceries, transit, phone, clothing, savings, and any entertainment.
This is why many Toronto residents spend their first years in Canada in shared accommodation, commuting from suburbs, or strategically house-sharing with other newcomers.
Frequently Asked Questions
Q: What entry-level salary can I expect in Toronto?
A: Entry-level roles in professional fields typically start at $45,000–$60,000. In tech, entry-level can reach $65,000–$80,000. In retail and hospitality, entry-level is near minimum wage ($17.20/hour).
Q: How do Toronto salaries compare to Vancouver?
A: Very similar — Toronto runs slightly higher in finance and law; Vancouver slightly higher in tech. Both cities have comparable cost-of-living challenges.
Q: Should I negotiate my first Toronto job offer?
A: Yes — always. Many employers in Canada expect negotiation and leave room in their initial offer. Research your role on Job Bank Canada and Glassdoor before the conversation.
Bottom Line
Toronto pays well — but it costs a lot. Expect to earn $65,000–$80,000 in most professional roles, with tech and finance at the higher end. Plan your first 1–2 years carefully: shared accommodation, transit instead of a car, and a focus on building Canadian work experience fast are the moves that put you in a financially stronger position by year three.
