That’s quite a shock. Inflation was so high for a while it’ll take a long time to recover.
So a 1K raise in a 7 year span?
Would definitely leave that company.
Do you mind telling us what field you’re in for some extra context?
Either way, that’s a bitter pill to swallow. Might get a little worse before it gets better with Tredeau’s resignation, but analysts seem to think Canada is primed to have a strong economic ’25 and’ 26, hopefully a little deflation occurs to balance things out in the meantime.
Exercise caution in reading into this data – it doesn’t tell you much about the state of the Canadian economy.
The primary reason that OP’s adjusted salary has dropped precipitously over the last 11 years isn’t inflation (average annual inflation over that time period was a very reasonable 2.52%). It’s that his nominal salary has failed to keep up with Canada’s median wage growth.
OP’s nominal salary today is $85,000, but if his salary had kept pace with the country’s median wage growth, we would expect it to be north of $120,000.
Where do you work, salaries have been rising a lot for many semi skilled workers.
The fact that you can make a graph means that you’re probably an employee that can be protected from higher cost of living.
Unless you’re a highly educated migrant with skills that Canada refuses to recognise.
I don’t get it can some please explain?
Well done on the graph. But you need career work tbh. I’m not ambitious but I’ve gotten yearly raises and upgraded my job about 5 times since 2014. My pay is about double in the same span as yours.
7 comments
That’s quite a shock. Inflation was so high for a while it’ll take a long time to recover.
So a 1K raise in a 7 year span?
Would definitely leave that company.
Do you mind telling us what field you’re in for some extra context?
Either way, that’s a bitter pill to swallow. Might get a little worse before it gets better with Tredeau’s resignation, but analysts seem to think Canada is primed to have a strong economic ’25 and’ 26, hopefully a little deflation occurs to balance things out in the meantime.
Exercise caution in reading into this data – it doesn’t tell you much about the state of the Canadian economy.
The primary reason that OP’s adjusted salary has dropped precipitously over the last 11 years isn’t inflation (average annual inflation over that time period was a very reasonable 2.52%). It’s that his nominal salary has failed to keep up with Canada’s median wage growth.
OP’s nominal salary today is $85,000, but if his salary had kept pace with the country’s median wage growth, we would expect it to be north of $120,000.
Where do you work, salaries have been rising a lot for many semi skilled workers.
The fact that you can make a graph means that you’re probably an employee that can be protected from higher cost of living.
Unless you’re a highly educated migrant with skills that Canada refuses to recognise.
I don’t get it can some please explain?
Well done on the graph. But you need career work tbh. I’m not ambitious but I’ve gotten yearly raises and upgraded my job about 5 times since 2014. My pay is about double in the same span as yours.
Comments are closed.