Average Management Economist Salary in Canada for 2024

In this article, we will look at the average Management Economist 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 Management Economist Make in Canada?

A Management Economist working in Canada will typically earn around 189,800 CAD per year, and this can range from the lowest average salary of about 92,100 CAD to the highest average salary of 293,500 CAD.

Average Annual Salary
189,800 CAD
Average Monthly Salary
15,816 CAD

Lowest Annual Salary
92,100 CAD
Lowest Monthly Salary
7,675 CAD

Highest Annual Salary
293,500 CAD
Highest Monthly Salary
24,458 CAD

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

Management Economist 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 Management Economist Salaries in Canada

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

Salary ranges

We already know that a Management Economist can earn between 92,100 CAD and 293,500 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 Management Economist in Canada is 192,600 CAD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 192,600 CAD, and 50% of the population earn more than 192,600 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 Management Economist salary in Canada, 25% of the population are earning less than 127,600 CAD while 75% of the population earn more than 127,600 CAD.

75% of the population earn less than 247,400 CAD, and 25% of the population earn more than 247,400 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.

Management Economist 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 management economist 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 Management Economist in Canada that has less than two years of experience can expect to earn somewhere in the region of 109,700 CAD.
  • 2 - 5 Years Experience. With two to five years of experience the average Management Economist salary would increase to 141,000 CAD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Management Economist, the average salary would be 193,400 CAD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 239,000 CAD.
  • 15 - 20 Years Experience. A Management Economist with 15 to 20 years of experience can earn an average of 258,700 CAD.
  • 20+ Years Experience. For a Management Economist with more than 20 years, the expected average salary increases to 272,900 CAD.

Average Salary by Experience Chart

0-2 Years
109,700 CAD
2-5 Years +29%
141,000 CAD
5-10 Years +38%
193,400 CAD
10-15 Years +24%
239,000 CAD
15-20 Years +7%
258,700 CAD
20+ Years +7%
272,900 CAD

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

  • Bachelor's Degree. A Management Economist in Canada with a bachelor's degree education can earn an average salary of 127,600 CAD.

  • Master's Degree. A Management Economist in Canada with a master's degree education can earn an average salary of 175,100 CAD.

  • PhD. A Management Economist in Canada with a phd education can earn an average salary of 290,200 CAD.

Average Salary by Education Chart

Bachelor's Degree
127,600 CAD
Master's Degree +38%
175,100 CAD
PhD +64%
290,200 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.

Management Economist 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 management economist will earn an average of 192,600 CAD, while a female management economist will earn around 183,600 CAD.

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

Average Salary by Gender Chart in Canada

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

Management Economist 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 Management Economist in Canada is around 13% every 16 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 ÷ 16 ) × 12  = 10%

What this means is that a Management Economist 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%

Management Economist 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 Management Economist is a high bonus based job, with 85% of employees reporting at least one bonus in the last 12 months.

15% 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
85%
No Bonus
15%

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 Management Economist

In the table below, we have salary information for jobs that are similar to a Management Economist in Canada.

Job Title Category Salary
Account Examiner Accounting and Finance 59,800 CAD
Account Executive Accounting and Finance 109,000 CAD
Accountant Accounting and Finance 80,400 CAD
Accounting Analyst Accounting and Finance 107,300 CAD
Accounting Assistant Accounting and Finance 65,100 CAD
Accounting Associate Accounting and Finance 62,600 CAD
Accounting Clerk Accounting and Finance 51,800 CAD
Accounting Coordinator Accounting and Finance 74,100 CAD
Accounting Head Accounting and Finance 169,700 CAD
Accounting Manager Accounting and Finance 177,100 CAD
Accounting Officer Accounting and Finance 60,200 CAD
Accounting Specialist Accounting and Finance 114,900 CAD
Accounting Supervisor Accounting and Finance 118,900 CAD
Accounting Technician Accounting and Finance 59,200 CAD
Accounting Unit Controller Accounting and Finance 137,100 CAD
Accounts Executive Accounting and Finance 111,700 CAD
Accounts Officer Accounting and Finance 68,100 CAD
Accounts Payable and Receivable Specialist Accounting and Finance 88,300 CAD
Accounts Payable Assistant Accounting and Finance 66,900 CAD
Accounts Payable Associate Accounting and Finance 77,300 CAD
Accounts Payable Clerk Accounting and Finance 63,700 CAD
Accounts Payable Manager Accounting and Finance 160,600 CAD
Accounts Receivable Administrator Accounting and Finance 117,100 CAD
Accounts Receivable Clerk Accounting and Finance 64,300 CAD
Accounts Receivable Financial Analyst Accounting and Finance 116,400 CAD
Accounts Receivable Manager Accounting and Finance 171,300 CAD
Accounts Receivable Team Leader Accounting and Finance 125,400 CAD
Assistant Accountant Accounting and Finance 61,500 CAD
Assistant Accounting Manager Accounting and Finance 165,900 CAD
Assistant Auditor Accounting and Finance 81,000 CAD
Assistant Corporate Controller Accounting and Finance 112,700 CAD
Assistant Finance Manager Accounting and Finance 182,400 CAD
Assistant Financial Controller Accounting and Finance 118,900 CAD
Audit Director Accounting and Finance 191,100 CAD
Audit Supervisor Accounting and Finance 158,700 CAD
Auditing Clerk Accounting and Finance 68,100 CAD
Auditing Manager Accounting and Finance 172,100 CAD
Billing Clerk Accounting and Finance 60,800 CAD
Billing Coordinator Accounting and Finance 75,900 CAD
Billing Specialist Accounting and Finance 87,500 CAD
Billing Supervisor Accounting and Finance 130,500 CAD
Bookkeeper Accounting and Finance 58,700 CAD
Bookkeeping Specialist Accounting and Finance 80,000 CAD
Budget Analyst Accounting and Finance 140,200 CAD
Budget Manager Accounting and Finance 175,200 CAD
Business Support Analyst Accounting and Finance 91,200 CAD
Capital Markets Associate Accounting and Finance 130,500 CAD
Cash Flow Analyst Accounting and Finance 134,100 CAD
Cash Management Manager Accounting and Finance 163,800 CAD
Cash Management Officer Accounting and Finance 101,400 CAD
Cashbook Clerk Accounting and Finance 58,200 CAD
Chartered Accountant Accounting and Finance 105,200 CAD
Chief Accountant Accounting and Finance 125,400 CAD
Collections Clerk Accounting and Finance 54,700 CAD
Collections Representative Accounting and Finance 73,300 CAD
Collections Specialist Accounting and Finance 83,300 CAD
Corporate Controller Accounting and Finance 130,400 CAD
Corporate Treasurer Accounting and Finance 152,700 CAD
Cost Accountant Accounting and Finance 82,200 CAD
Cost Accounting Manager Accounting and Finance 166,600 CAD
Cost Accounting Supervisor Accounting and Finance 140,200 CAD
Cost Analyst Accounting and Finance 140,700 CAD
Credit and Collection Manager Accounting and Finance 171,300 CAD
Credit and Collection Staff Accounting and Finance 63,500 CAD
Credit and Loans Officer Accounting and Finance 59,500 CAD
Credit Controller Accounting and Finance 123,000 CAD
Credit Manager Accounting and Finance 175,100 CAD
Debt Adviser Accounting and Finance 138,700 CAD
Debt Collector Accounting and Finance 68,200 CAD
Debtors Clerk Accounting and Finance 57,400 CAD
Debtors Controller Accounting and Finance 60,200 CAD
Deputy CFO Accounting and Finance 228,200 CAD
Deputy Head of Finance Accounting and Finance 222,700 CAD
Derivative Trader Accounting and Finance 146,900 CAD
Director of Finance Accounting and Finance 241,200 CAD
Economist Accounting and Finance 192,600 CAD
Equity Analyst Accounting and Finance 142,300 CAD
Escrow Assistant Accounting and Finance 80,200 CAD
Executive Accountant Accounting and Finance 97,400 CAD
External Auditor Accounting and Finance 121,800 CAD
Finance Administrator Accounting and Finance 97,400 CAD
Finance Analyst Accounting and Finance 157,600 CAD
Finance Associate Accounting and Finance 75,500 CAD
Finance Director Accounting and Finance 238,200 CAD
Finance Executive Accounting and Finance 183,600 CAD
Finance Licensing Clerk Accounting and Finance 65,200 CAD
Finance Licensing Manager Accounting and Finance 158,700 CAD
Finance Licensing Specialist Accounting and Finance 95,300 CAD
Finance Manager Accounting and Finance 236,700 CAD
Finance Officer Accounting and Finance 79,000 CAD
Finance President Accounting and Finance 255,000 CAD
Finance Relationship Manager Accounting and Finance 201,000 CAD
Finance Release Analyst Accounting and Finance 100,700 CAD
Finance Specialist Accounting and Finance 146,700 CAD
Finance Team Leader Accounting and Finance 184,700 CAD
Financial Accountant Accounting and Finance 81,000 CAD
Financial Actuary Accounting and Finance 128,200 CAD
Financial Administrator Accounting and Finance 148,300 CAD
Financial Advisor Accounting and Finance 150,100 CAD
Financial Analyst Accounting and Finance 160,700 CAD
Financial Applications Specialist Accounting and Finance 105,800 CAD
Financial Assistant Accounting and Finance 69,600 CAD
Financial Associate Accounting and Finance 72,400 CAD
Financial Associate Accounting and Finance 79,600 CAD
Financial Claims Analyst Accounting and Finance 114,900 CAD
Financial Claims Manager Accounting and Finance 156,200 CAD
Financial Claims Supervisor Accounting and Finance 138,700 CAD
Financial Clerk Accounting and Finance 68,900 CAD
Financial Commercial Analyst Accounting and Finance 118,900 CAD
Financial Compliance Analyst Accounting and Finance 142,100 CAD
Financial Consultant Accounting and Finance 109,700 CAD
Financial Controller Accounting and Finance 130,500 CAD
Financial Controller Accounting and Finance 138,700 CAD
Financial Coordinator Accounting and Finance 75,100 CAD
Financial Customer Service Manager Accounting and Finance 160,600 CAD
Financial Dealer and Broker Accounting and Finance 93,100 CAD
Financial Director Accounting and Finance 252,500 CAD
Financial Encoder Accounting and Finance 69,100 CAD
Financial Manager Accounting and Finance 225,500 CAD
Financial Manager Accounting and Finance 241,200 CAD
Financial Operations Manager Accounting and Finance 222,700 CAD
Financial Policy Analyst Accounting and Finance 132,000 CAD
Financial Project Manager Accounting and Finance 172,100 CAD
Financial Quantitative Analyst Accounting and Finance 140,200 CAD
Financial Reporting Consultant Accounting and Finance 125,400 CAD
Financial Reporting Manager Accounting and Finance 163,500 CAD
Financial Section Head Accounting and Finance 158,700 CAD
Financial Services Manager Accounting and Finance 206,100 CAD
Financial Services Sales Agent Accounting and Finance 87,800 CAD
Fixed Assets Administrator Accounting and Finance 92,400 CAD
Forensic Accountant Accounting and Finance 103,600 CAD
Fraud Detection Supervisor Accounting and Finance 103,600 CAD
Fraud Prevention Manager Accounting and Finance 175,200 CAD
Fund Accountant Accounting and Finance 78,500 CAD
Grants Coordinator Accounting and Finance 64,200 CAD
Group Financial Manager Accounting and Finance 243,000 CAD
Internal Auditor Accounting and Finance 109,700 CAD
Internal Control Adviser Accounting and Finance 130,500 CAD
Internal Control Officer Accounting and Finance 73,800 CAD
International Tax Director Accounting and Finance 199,700 CAD
Inventory Accountant Accounting and Finance 86,100 CAD
Investment Advisor Accounting and Finance 223,800 CAD
Investment Analyst Accounting and Finance 172,100 CAD
Investment Associate Accounting and Finance 141,000 CAD
Investment Broker Accounting and Finance 139,100 CAD
Investment Fund Manager Accounting and Finance 191,100 CAD
Investment Operations Manager Accounting and Finance 190,400 CAD
Investment Underwriter Accounting and Finance 68,400 CAD
Investor Accounting and Finance 111,700 CAD
Investor Relations Manager Accounting and Finance 161,300 CAD
KYC Team Leader Accounting and Finance 165,900 CAD
Loan Processor Accounting and Finance 68,200 CAD
Management Accountant Accounting and Finance 92,100 CAD
Paymaster Accounting and Finance 66,100 CAD
Payroll Administrator Accounting and Finance 107,700 CAD
Payroll Benefits Coordinator Accounting and Finance 91,600 CAD
Payroll Billing Manager Accounting and Finance 158,700 CAD
Payroll Clerk Accounting and Finance 71,900 CAD
Payroll Manager Accounting and Finance 160,700 CAD
Payroll Officer Accounting and Finance 69,200 CAD
Payroll Specialist Accounting and Finance 86,800 CAD
Payroll Supervisor Accounting and Finance 105,800 CAD
Pensions Administrator Accounting and Finance 84,600 CAD
Personal Financial Advisor Accounting and Finance 123,000 CAD
Pricing Analyst Accounting and Finance 146,700 CAD
Private Equity Analyst Accounting and Finance 146,900 CAD
Project Accountant Accounting and Finance 90,600 CAD
Proposal Development Coordinator Accounting and Finance 73,700 CAD
Receivables Accountant Accounting and Finance 83,700 CAD
Regulatory Accountant Accounting and Finance 97,400 CAD
Retirement Plan Analyst Accounting and Finance 130,400 CAD
Revenue Management Specialist Accounting and Finance 142,300 CAD
Revenue Recognition Analyst Accounting and Finance 156,200 CAD
Risk Management Director Accounting and Finance 210,600 CAD
Risk Management Supervisor Accounting and Finance 160,600 CAD
Staff Accountant Accounting and Finance 79,600 CAD
Tax Accountant Accounting and Finance 79,000 CAD
Tax Administrator Accounting and Finance 93,900 CAD
Tax Advisor Accounting and Finance 123,800 CAD
Tax Analyst Accounting and Finance 128,400 CAD
Tax Associate Accounting and Finance 73,800 CAD
Tax Consultant Accounting and Finance 141,000 CAD
Tax Director Accounting and Finance 190,400 CAD
Tax Examiner Accounting and Finance 89,200 CAD
Tax Manager Accounting and Finance 172,100 CAD
Tax Research Manager Accounting and Finance 180,500 CAD
Teller Accounting and Finance 50,800 CAD
Treasury Accountant Accounting and Finance 90,000 CAD
Treasury Analyst Accounting and Finance 147,900 CAD
Underwriter Accounting and Finance 60,400 CAD
Underwriting Assistant Accounting and Finance 56,400 CAD
Vice President of Finance Accounting and Finance 227,600 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 189,800 CAD
Calgary 199,700 CAD
Edmonton 209,700 CAD
Gatineau 183,600 CAD
Halifax 182,400 CAD
Hamilton 200,600 CAD
Kitchener 193,400 CAD
Markham 183,900 CAD
Mississauga 195,200 CAD
Montreal 205,400 CAD
Ottawa 206,300 CAD
Quebec 201,000 CAD
Regina 180,500 CAD
Richmond 177,100 CAD
Saskatoon 172,100 CAD
Surrey 195,200 CAD
Toronto 206,700 CAD
Vancouver 204,900 CAD
Vaughan 189,800 CAD
Windsor 175,100 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 204,900 CAD
British Columbia 216,600 CAD
Manitoba 195,200 CAD
New Brunswick 175,100 CAD
Newfoundland-Labrador 183,900 CAD
Northwest Territories 192,600 CAD
Nova Scotia 191,500 CAD
Nunavut 199,700 CAD
Ontario 225,500 CAD
Prince Edward Island 165,900 CAD
Quebec 222,300 CAD
Saskatchewan 183,600 CAD
Yukon 177,100 CAD

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