Average Chief Executive Officer Salary in Canada for 2024

In this article, we will look at the average Chief Executive Officer 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 a Chief Executive Officer Make in Canada?

A Chief Executive Officer working in Canada will typically earn around 267,200 CAD per year, and this can range from the lowest average salary of about 130,500 CAD to the highest average salary of 416,900 CAD.

Average Annual Salary
267,200 CAD
Average Monthly Salary
22,266 CAD

Lowest Annual Salary
130,500 CAD
Lowest Monthly Salary
10,875 CAD

Highest Annual Salary
416,900 CAD
Highest Monthly Salary
34,741 CAD

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

Chief Executive Officer 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 Chief Executive Officer Salaries in Canada

So we've looked at the average salaries a Chief Executive Officer will earn in Canada. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Chief Executive Officer can earn between 130,500 CAD and 416,900 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 a Chief Executive Officer in Canada is 274,000 CAD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 274,000 CAD, and 50% of the population earn more than 274,000 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 Chief Executive Officer salary in Canada, 25% of the population are earning less than 183,900 CAD while 75% of the population earn more than 183,900 CAD.

75% of the population earn less than 353,900 CAD, and 25% of the population earn more than 353,900 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.

Chief Executive Officer 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 chief executive officer 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. A Chief Executive Officer in Canada that has less than two years of experience can expect to earn somewhere in the region of 157,600 CAD.
  • 2 - 5 Years Experience. With two to five years of experience the average Chief Executive Officer salary would increase to 200,600 CAD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Chief Executive Officer, the average salary would be 275,800 CAD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 341,400 CAD.
  • 15 - 20 Years Experience. A Chief Executive Officer with 15 to 20 years of experience can earn an average of 366,200 CAD.
  • 20+ Years Experience. For a Chief Executive Officer with more than 20 years, the expected average salary increases to 392,400 CAD.

Average Salary by Experience Chart

0-2 Years
157,600 CAD
2-5 Years +29%
200,600 CAD
5-10 Years +38%
275,800 CAD
10-15 Years +24%
341,400 CAD
15-20 Years +7%
366,200 CAD
20+ Years +7%
392,400 CAD

Chief Executive Officer 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 a Chief Executive Officer in Canada based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Chief Executive Officer in Canada with a high school education can earn an average salary of 151,800 CAD.

  • Certificate or Diploma. A Chief Executive Officer in Canada with a certificate or diploma education can earn an average salary of 180,500 CAD.

  • Bachelor's Degree. A Chief Executive Officer in Canada with a bachelor's degree education can earn an average salary of 228,200 CAD.

  • Master's Degree. A Chief Executive Officer in Canada with a master's degree education can earn an average salary of 350,000 CAD.

  • PhD. A Chief Executive Officer in Canada with a phd education can earn an average salary of 413,600 CAD.

Average Salary by Education Chart

High School
151,800 CAD
Certificate or Diploma +19%
180,500 CAD
Bachelor's Degree +27%
228,200 CAD
Master's Degree +53%
350,000 CAD
PhD +19%
413,600 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.

Chief Executive Officer 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 chief executive officer will earn an average of 272,900 CAD, while a female chief executive officer will earn around 262,300 CAD.

This means that a male chief executive officer earns approximately 4% more than a female chief executive officer for performing the same job.

Average Salary by Gender Chart in Canada

Male
272,900 CAD
Female -4%
262,300 CAD

Chief Executive Officer 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 a Chief Executive Officer in Canada is around 15% 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 = ( 15 ÷ 15 ) × 12  = 12%

What this means is that a Chief Executive Officer in Canada can expect to receive an average pay raise of around 12% 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%

Chief Executive Officer 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.

A Chief Executive Officer is a high bonus based job, with 86% of employees reporting at least one bonus in the last 12 months.

14% 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
86%
No Bonus
14%

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 a Chief Executive Officer

In the table below, we have salary information for jobs that are similar to a Chief Executive Officer in Canada.

Job Title Category Salary
Account Coordinator Executive and Management 114,300 CAD
Account Director Executive and Management 140,700 CAD
Account Executive Executive and Management 138,700 CAD
Account Manager Executive and Management 137,100 CAD
Administration Manager Executive and Management 139,100 CAD
Administration Officer Executive and Management 69,200 CAD
Administration Supervisor Executive and Management 114,600 CAD
Administrative Clerk Executive and Management 51,400 CAD
Administrative Officer Executive and Management 55,200 CAD
Area Director Executive and Management 127,700 CAD
Area Manager Executive and Management 130,500 CAD
Asset Protection Associate Executive and Management 142,300 CAD
Assistant Director Executive and Management 142,300 CAD
Assistant General Manager Executive and Management 148,300 CAD
Assistant Manager Executive and Management 147,900 CAD
Assistant Managing Director Executive and Management 163,500 CAD
Assistant Operations Manager Executive and Management 152,700 CAD
Assistant Project Manager Executive and Management 148,300 CAD
Assistant Section Head Executive and Management 119,700 CAD
Assistant to CEO Executive and Management 132,000 CAD
Assistant Vice President Executive and Management 150,100 CAD
Associate Account Director Executive and Management 134,700 CAD
Associate Director Executive and Management 137,100 CAD
Bid Manager Executive and Management 166,600 CAD
Branch Manager Executive and Management 148,300 CAD
Business Development Manager Executive and Management 172,200 CAD
Business Operations Associate Executive and Management 148,300 CAD
Business Operations Lead Executive and Management 140,200 CAD
Campaign Manager Executive and Management 160,700 CAD
Catering Coordinator Executive and Management 81,900 CAD
Catering Manager Executive and Management 146,700 CAD
CEO Executive and Management 257,500 CAD
Chairman of The Board Executive and Management 252,500 CAD
Chairman Office Manager Executive and Management 172,100 CAD
Chief Commercial Officer Executive and Management 187,500 CAD
Chief Corporate Officer Executive and Management 226,100 CAD
Chief Financial Officer Executive and Management 241,800 CAD
Chief Investment Officer Executive and Management 199,700 CAD
Chief of Staff Executive and Management 123,000 CAD
Chief Operating Officer Executive and Management 210,600 CAD
Chief Risk Officer Executive and Management 180,500 CAD
Client Account Manager Executive and Management 167,100 CAD
Client Accounts Officer Executive and Management 132,000 CAD
Client Services Manager Executive and Management 167,100 CAD
Commercial Director Executive and Management 184,700 CAD
Commercial Manager Executive and Management 158,900 CAD
Commercial Project Manager Executive and Management 148,300 CAD
Commodity Broker Executive and Management 116,400 CAD
COO Executive and Management 201,000 CAD
Corporate Affairs Executive Executive and Management 161,300 CAD
Corporate Compliance Director Executive and Management 169,700 CAD
Corporate Director Executive and Management 187,500 CAD
Corporate Officer Executive and Management 128,200 CAD
Corporate Partnerships Officer Executive and Management 125,400 CAD
Country Manager Executive and Management 201,000 CAD
Department Head Executive and Management 158,900 CAD
Department Manager Executive and Management 163,500 CAD
Department Supervisor Executive and Management 148,300 CAD
Deputy Director Executive and Management 199,700 CAD
Deputy Manager Executive and Management 192,600 CAD
Director Executive and Management 209,700 CAD
Director of Accreditation Executive and Management 176,300 CAD
Director of Catering Services Executive and Management 163,500 CAD
Director of Client Services Executive and Management 169,700 CAD
Director of Facilities Management Executive and Management 142,100 CAD
Director of Operations Executive and Management 176,300 CAD
Director of Process Simplification Executive and Management 140,700 CAD
Director of Product Management Executive and Management 176,300 CAD
Director of Project Management Executive and Management 184,700 CAD
Director of Revenue Management Executive and Management 163,800 CAD
Director of Training and Development Executive and Management 177,100 CAD
Distribution Manager Executive and Management 177,200 CAD
Division Manager Executive and Management 153,700 CAD
Duty Manager Executive and Management 156,200 CAD
Engagement Manager Executive and Management 190,400 CAD
Executive Director Executive and Management 267,200 CAD
Executive Manager Executive and Management 213,800 CAD
Franchise Manager Executive and Management 218,500 CAD
General Manager Executive and Management 218,100 CAD
Global Master Data Manager Executive and Management 193,400 CAD
Global Technical Lead Executive and Management 128,400 CAD
Head of Investment Executive and Management 175,100 CAD
Head of Middle Office Executive and Management 176,300 CAD
Head of Projects Executive and Management 175,200 CAD
Head of Strategy Executive and Management 191,100 CAD
Head of Supply Chain Executive and Management 163,500 CAD
Head of Sustainability Executive and Management 157,600 CAD
Housing Manager Executive and Management 150,100 CAD
HSE Manager Executive and Management 153,800 CAD
Key Account Manager Executive and Management 146,900 CAD
Knowledge Manager Executive and Management 177,200 CAD
Location Manager Executive and Management 172,100 CAD
Logistics Executive Executive and Management 138,700 CAD
Logistics Manager Executive and Management 137,100 CAD
Management Consultant Executive and Management 142,100 CAD
Management Executive Executive and Management 190,400 CAD
Manager Executive and Management 177,200 CAD
Managing Director Executive and Management 219,500 CAD
MIS Executive Executive and Management 172,300 CAD
Ocean Services Manager Executive and Management 192,600 CAD
Operational Manager Executive and Management 193,200 CAD
Operations Analyst Executive and Management 158,900 CAD
Operations Assistant Executive and Management 127,600 CAD
Operations Director Executive and Management 192,600 CAD
Operations Executive Executive and Management 199,700 CAD
Operations Manager Executive and Management 206,700 CAD
Operations Supervisor Executive and Management 165,900 CAD
Planning Director Executive and Management 184,700 CAD
PMO Manager Executive and Management 168,700 CAD
Policy Administration Executive Executive and Management 151,800 CAD
Private Sector Executive Executive and Management 153,700 CAD
Product Development Manager Executive and Management 183,600 CAD
Product Executive Executive and Management 163,800 CAD
Production Executive Executive and Management 182,400 CAD
Production Manager Executive and Management 183,600 CAD
Production Supervisor Executive and Management 156,200 CAD
Program Director Executive and Management 183,900 CAD
Program Manager Executive and Management 187,500 CAD
Programme Coordinator Executive and Management 130,500 CAD
Project Control Manager Executive and Management 180,500 CAD
Project Coordinator Executive and Management 107,700 CAD
Project Management Officer Executive and Management 124,500 CAD
Project Manager Executive and Management 141,000 CAD
Project Portfolio Manager Executive and Management 146,700 CAD
Quality Manager Executive and Management 140,200 CAD
R/D Director Executive and Management 160,600 CAD
Regional Director Executive and Management 250,600 CAD
Regional Manager Executive and Management 190,400 CAD
Relationship Manager Executive and Management 169,700 CAD
Retail District Manager Executive and Management 130,400 CAD
Revenue Manager Executive and Management 137,100 CAD
Risk and Capital Manager Executive and Management 211,200 CAD
Risk Officer Executive and Management 134,100 CAD
Safety Manager Executive and Management 138,700 CAD
Section Head Executive and Management 141,000 CAD
Service Manager Executive and Management 139,100 CAD
Shift Supervisor Executive and Management 114,900 CAD
Solutions Manager Executive and Management 132,000 CAD
Supervisor Executive and Management 108,200 CAD
Supply Chain Manager Executive and Management 183,900 CAD
Surveyor Executive and Management 130,400 CAD
Technical Director Executive and Management 180,500 CAD
Technical Manager Executive and Management 177,200 CAD
Territory Manager Executive and Management 177,200 CAD
Validation Manager Executive and Management 157,600 CAD
Vice President Executive and Management 223,700 CAD
Zone Manager Executive and Management 182,400 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 272,500 CAD
Calgary 280,400 CAD
Edmonton 280,400 CAD
Gatineau 252,500 CAD
Halifax 245,400 CAD
Hamilton 272,500 CAD
Kitchener 253,400 CAD
Markham 267,900 CAD
Mississauga 278,500 CAD
Montreal 286,400 CAD
Ottawa 278,500 CAD
Quebec 272,500 CAD
Regina 241,200 CAD
Richmond 238,200 CAD
Saskatoon 241,200 CAD
Surrey 257,700 CAD
Toronto 290,200 CAD
Vancouver 280,400 CAD
Vaughan 266,300 CAD
Windsor 266,300 CAD
Winnipeg 274,000 CAD

Salary Comparison by State

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

City Average Salary
Alberta 280,400 CAD
British Columbia 310,200 CAD
Manitoba 292,100 CAD
New Brunswick 258,700 CAD
Newfoundland-Labrador 252,400 CAD
Northwest Territories 282,500 CAD
Nova Scotia 267,900 CAD
Nunavut 301,800 CAD
Ontario 295,700 CAD
Prince Edward Island 229,000 CAD
Quebec 295,700 CAD
Saskatchewan 259,700 CAD
Yukon 241,200 CAD

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