Average AML Analyst Salary in Canada for 2024

In this article, we will look at the average AML Analyst salary for 2024 in Canada and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Canadian dollar. To keep things simple, we are using the CAD currency code instead of the currency symbol $.

How Much Does an AML Analyst Make in Canada?

An AML Analyst working in Canada will typically earn around 185,900 CAD per year, and this can range from the lowest average salary of about 87,500 CAD to the highest average salary of 296,400 CAD.

Average Annual Salary
185,900 CAD
Average Monthly Salary
15,491 CAD

Lowest Annual Salary
87,500 CAD
Lowest Monthly Salary
7,291 CAD

Highest Annual Salary
296,400 CAD
Highest Monthly Salary
24,700 CAD

These are average salaries for an AML Analyst in Canada and include benefits such as housing and transport. It's also possible for an AML Analyst to earn more or less than the average salaries shown above.

AML Analyst salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of AML Analyst Salaries in Canada

So we've looked at the average salaries an AML Analyst will earn in Canada. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an AML Analyst can earn between 87,500 CAD and 296,400 CAD on average in Canada. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an AML Analyst in Canada is 201,000 CAD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 201,000 CAD, and 50% of the population earn more than 201,000 CAD.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average AML Analyst salary in Canada, 25% of the population are earning less than 128,400 CAD while 75% of the population earn more than 128,400 CAD.

75% of the population earn less than 267,900 CAD, and 25% of the population earn more than 267,900 CAD.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

AML Analyst Salary by Experience Level in Canada

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average aml analyst salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. An AML Analyst in Canada that has less than two years of experience can expect to earn somewhere in the region of 96,800 CAD.
  • 2 - 5 Years Experience. With two to five years of experience the average AML Analyst salary would increase to 128,400 CAD.
  • 5 - 10 Years Experience. From five to ten years of experience as an AML Analyst, the average salary would be 191,100 CAD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 233,800 CAD.
  • 15 - 20 Years Experience. An AML Analyst with 15 to 20 years of experience can earn an average of 255,000 CAD.
  • 20+ Years Experience. For an AML Analyst with more than 20 years, the expected average salary increases to 276,200 CAD.

Average Salary by Experience Chart

0-2 Years
96,800 CAD
2-5 Years +34%
128,400 CAD
5-10 Years +48%
191,100 CAD
10-15 Years +22%
233,800 CAD
15-20 Years +9%
255,000 CAD
20+ Years +8%
276,200 CAD

AML Analyst Salary by Education Level in Canada

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an AML Analyst in Canada based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Certificate or Diploma. An AML Analyst in Canada with a certificate or diploma education can earn an average salary of 111,700 CAD.

  • Bachelor's Degree. An AML Analyst in Canada with a bachelor's degree education can earn an average salary of 176,300 CAD.

  • Master's Degree. An AML Analyst in Canada with a master's degree education can earn an average salary of 293,500 CAD.

Average Salary by Education Chart

Certificate or Diploma
111,700 CAD
Bachelor's Degree +57%
176,300 CAD
Master's Degree +68%
293,500 CAD

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Canada is around 49,800 to 149,000 CAD and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

AML Analyst Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Canada, a male aml analyst will earn an average of 192,600 CAD, while a female aml analyst will earn around 183,900 CAD.

This means that a male aml analyst earns approximately 5% more than a female aml analyst for performing the same job.

Average Salary by Gender Chart in Canada

Male
192,600 CAD
Female -5%
183,900 CAD

AML Analyst Average Pay Raise in Canada

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an AML Analyst in Canada is around 13% every 15 months.

The national average pay raise across all professions and industries in Canada is around 9% every 15 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 13 ÷ 15 ) × 12  = 10%

What this means is that an AML Analyst in Canada can expect to receive an average pay raise of around 10% every 12 months.

Annual Pay Raise by Industry in Canada for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Canada.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

AML Analyst Bonus and Incentive Rates in Canada

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An AML Analyst is a high bonus based job, with 88% of employees reporting at least one bonus in the last 12 months.

12% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 5% to 9%.

Received Bonus
88%
No Bonus
12%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Canada earn approximately 6% more than private sector employees in the same role.

Public Sector
123,000 CAD
Private Sector -6%
115,600 CAD

Salaries for Jobs Similar to an AML Analyst

In the table below, we have salary information for jobs that are similar to an AML Analyst in Canada.

Job Title Category Salary
Assistant Bank Branch Manager Banking 152,700 CAD
Assistant Bank Manager Banking 216,600 CAD
ATM Manager Banking 172,200 CAD
ATM Service Technician Banking 50,300 CAD
Bank Accounts Analyst Banking 71,800 CAD
Bank Accounts Collector Banking 44,800 CAD
Bank Accounts Controller Banking 94,300 CAD
Bank Accounts Executive Banking 128,400 CAD
Bank Accounts Manager Banking 157,600 CAD
Bank Auditing Manager Banking 151,800 CAD
Bank Branch Manager Banking 223,700 CAD
Bank Branch Operations Coordinator Banking 91,600 CAD
Bank Clerk Banking 41,000 CAD
Bank Client Service Associate Banking 54,600 CAD
Bank Collector Banking 42,800 CAD
Bank Compliance Specialist Banking 117,100 CAD
Bank Manager Banking 245,600 CAD
Bank Operational Risk Manager Banking 241,000 CAD
Bank Operations Head Banking 255,000 CAD
Bank Operations Officer Banking 103,600 CAD
Bank Operations Specialist Banking 158,700 CAD
Bank Process Manager Banking 146,900 CAD
Bank Product Manager Banking 168,700 CAD
Bank Programme Manager Banking 167,100 CAD
Bank Project Manager Banking 204,900 CAD
Bank Propositions Manager Banking 182,400 CAD
Bank Quantitative Analyst Banking 121,800 CAD
Bank Regional Manager Banking 252,500 CAD
Bank Regional Risk Officer Banking 128,400 CAD
Bank Relationship Manager Banking 191,100 CAD
Bank Relationship Officer Banking 87,700 CAD
Bank Teller Banking 45,000 CAD
Banker Banking 92,900 CAD
Banking Business Analyst Banking 134,100 CAD
Banking Business Development Officer Banking 80,500 CAD
Banking Business Planning Executive Banking 193,200 CAD
Banking Product Manager Banking 158,700 CAD
Banking Reference Data Manager Banking 140,200 CAD
Banking Risk Analyst Banking 132,000 CAD
Banking Technical Analyst Banking 71,700 CAD
Bankruptcy Coordinator Banking 99,600 CAD
Bill and Account Collector Banking 46,100 CAD
Budget Analyst Banking 130,400 CAD
Capital Risk Manager Banking 250,600 CAD
Cards Marketing Manager Banking 167,100 CAD
Cash Management Manager Banking 235,300 CAD
Check Processing Manager Banking 163,800 CAD
Commercial Vault Associate Banking 134,700 CAD
Corporate Banker Banking 97,400 CAD
Corporate Dealer Banking 142,300 CAD
Credit Analyst Banking 99,700 CAD
Credit and Collections Manager Banking 182,400 CAD
Credit Card Fraud Investigator Banking 128,400 CAD
Credit Portfolio Manager Banking 241,000 CAD
Credit Risk Analyst Banking 142,300 CAD
Credit Risk Associate Banking 139,100 CAD
Direct Bank Sales Representative Banking 94,300 CAD
Exchange Control Consultant Banking 139,100 CAD
Executive Account Analyst Banking 128,400 CAD
Financial Bank Planning Consultant Banking 163,800 CAD
Financial Banking Analysis Manager Banking 189,800 CAD
Financial Banking Assistant Banking 63,900 CAD
Financial Banking Systems Manager Banking 189,800 CAD
Foreign Exchange Manager Banking 187,500 CAD
Fraud Analyst Banking 142,300 CAD
Fraud Detection Associate Banking 95,900 CAD
Fraud Detection Manager Banking 201,000 CAD
Fraud Detection Supervisor Banking 108,200 CAD
Internal Bank Audit Manager Banking 247,400 CAD
Internal Bank Auditor Banking 125,400 CAD
Internal Private Banker Banking 92,400 CAD
International Banking Manager Banking 274,000 CAD
Investment Banking Analyst Banking 187,500 CAD
Loan Analyst Banking 125,400 CAD
Loan Area Manager Banking 164,100 CAD
Loan Audit Team Leader Banking 153,800 CAD
Loan Branch Manager Banking 140,200 CAD
Loan Business Development Officer Banking 79,600 CAD
Loan Clerk Banking 46,700 CAD
Loan Collection and Recovery Manager Banking 158,700 CAD
Loan Collection Manager Banking 152,900 CAD
Loan Collector Banking 46,200 CAD
Loan Examiner Banking 57,200 CAD
Loan Officer Banking 50,300 CAD
Loan Processing Manager Banking 146,700 CAD
Loan Processor Banking 56,800 CAD
Loan Quality Assurance Auditor Banking 132,000 CAD
Loan Quality Assurance Manager Banking 152,700 CAD
Loan Quality Assurance Representative Banking 94,300 CAD
Loan Review Manager Banking 151,800 CAD
Loan Team Leader Banking 141,000 CAD
Loans Manager Banking 177,200 CAD
Mortgage Advisor Banking 88,700 CAD
Mortgage Collection Manager Banking 158,700 CAD
Mortgage Collector Banking 40,300 CAD
Mortgage Credit Analyst Banking 71,700 CAD
Mortgage Credit Manager Banking 152,900 CAD
Mortgage Development Manager Banking 163,800 CAD
Mortgage Document Reviewer Banking 59,700 CAD
Mortgage Funding Manager Banking 164,100 CAD
Mortgage Operations Manager Banking 238,300 CAD
Mortgage Payment Processing Clerk Banking 50,500 CAD
Mortgage Processing Manager Banking 151,800 CAD
Mortgage Processor Banking 62,500 CAD
Mortgage Quality Assurance Auditor Banking 132,000 CAD
Mortgage Quality Assurance Manager Banking 142,300 CAD
Mortgage Servicing Clerk Banking 42,700 CAD
Mortgage Servicing Manager Banking 147,900 CAD
Mortgage Underwriter Banking 54,100 CAD
Online Banking Manager Banking 241,200 CAD
Payment Processing Clerk Banking 46,700 CAD
Personal Banker Banking 92,100 CAD
Personal Banking Advisor Banking 97,600 CAD
Phone Banker Banking 65,400 CAD
Private Banker Banking 99,100 CAD
Reconciliation and Investigation Specialist Banking 107,700 CAD
Tax Officer Banking 79,800 CAD
Teller Banking 48,600 CAD
Trade Officer Banking 51,100 CAD
Trade Product Manager Banking 158,900 CAD
Trader Banking 61,700 CAD
Treasury Operations Officer Banking 114,300 CAD

Salary Comparison by City

If you want to compare salaries with different cities in Canada, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Brampton 183,600 CAD
Calgary 205,400 CAD
Edmonton 199,700 CAD
Gatineau 171,300 CAD
Halifax 187,500 CAD
Hamilton 185,900 CAD
Kitchener 191,500 CAD
Markham 176,300 CAD
Mississauga 193,200 CAD
Montreal 206,100 CAD
Ottawa 197,600 CAD
Quebec 190,400 CAD
Regina 172,300 CAD
Richmond 169,700 CAD
Saskatoon 175,200 CAD
Surrey 191,500 CAD
Toronto 209,700 CAD
Vancouver 210,600 CAD
Vaughan 169,700 CAD
Windsor 166,600 CAD
Winnipeg 193,400 CAD

Salary Comparison by State

The table below includes links to the average salary for each state in Canada.

City Average Salary
Alberta 210,600 CAD
British Columbia 193,400 CAD
Manitoba 184,700 CAD
New Brunswick 172,300 CAD
Newfoundland-Labrador 166,600 CAD
Northwest Territories 184,700 CAD
Nova Scotia 171,300 CAD
Nunavut 185,900 CAD
Ontario 218,100 CAD
Prince Edward Island 168,700 CAD
Quebec 211,200 CAD
Saskatchewan 184,700 CAD
Yukon 167,100 CAD

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