We all know that one of the most critical decisions in our lives is choosing our professional path since it will define essential aspects of adulthood and, above all, our personal development. The career we choose will determine the lifestyle we will lead when we finish our academic training and directly impact our professional, personal, and social lives.
When we are in high school, and it is time to decide on a professional career, we are usually influenced by some factors, such as personal interests, family influence, the benefits that a particular profession can bring to the community, and the salary.
This article will analyze the average salary corresponding to Canada's most popular math careers. So, if you are thinking of studying mathematics, rest assured that this information is going to be highly relevant to your future choices!
How Important is the Salary in your Career Choice?
The salary is an essential factor in our professional choices. However, something crucial will always be to choose an occupation you are passionate about. Maybe we sound like your parents right now, but let's put a practical example. Suppose you select a degree based solely on salary. In that case, you may not be taking into account all those strengths, skills, and abilities that you are gifted with. If you choose another degree that is more aligned with your profile, it is going to surely lead you to a much more fulfilling and successful professional path in the long term, even if it is not well paid at the beginning. If you wake up every day committed to bringing your values, passions, and skills to your job, you will inherently reap more monetary and emotional rewards. We can call this personal satisfaction!
However, society generally relates success to money or the purchasing power that a person can have. But here, you must question yourself and define what it is for you to be successful. Perhaps you have not yet had enough experience to determine what success is for you at this point in life. And that's fine; the time will come for you. However, remember that "economic success" can be very far from the concept of personal success. Would you choose one of the highest-paid math professions in Canada if you don't enjoy math? We are sure you won't! As you can see, having a high salary is not the only factor you have to consider when choosing a career.
Here we are not saying that money is not an essential factor to take into account. Money will always be a facilitator that is going to bring you great opportunities and allow you to have a better quality of life. After all, receiving the correct remuneration for exchanging your knowledge and services, your experience and professionalism, and the time and effort you invest in your academic and professional training is part of your human development.
We will give you an example where the salary can be considered something decisive. Suppose you don't know which career to choose, but you have two possible favorite math degrees: option A and option B. Both are equally interesting for you; you have a great career prospect, and both are consistent with your values and morals. In this case, we recommend choosing the one that pays you the best. Can you realize how here the salary is a determining factor? After all, the career of your dreams does exist, and also a rewarding salary!
As a piece of advice, evaluate everything that a professional career can offer you and choose the one that provides the best balance for you and your life. And no worries, till you don't try, you don't know. Let's be better informed and make the decision from there.
Which are other Essential Factors in choosing a Career?
Other decisive factors you should consider when choosing a profession are:
- Your skills: These are all the abilities and talents you master, where you can find a sense of confidence and attractive elements for your academic and professional profile. To discover them, you should pay attention to what you enjoy the most and that you also execute efficiently. An example could be having an excellent ability for mental calculations or being excellent at learning languages.
- Your interests: It is everything that you like, passionate about, and that makes time fly by. Your interests can give you an idea of what you can study and the most suitable environment for you. For example, are you very curious about the origin of the universe? Are you constantly looking for a way to crack a math problem in all possible ways? These questions will give you a series of answers to help you better define the type of career you should study.
*Here, it is also a good idea to identify and write down everything that you do not like, that discourages you, or that you consider tedious as guidelines for choosing your ideal match.
- Your personality: It is everything that configures your way of being and how you differ from others. For example, if you consider yourself an extrovert or think you are a little more introverted. This personality trait can better guide your decision since you will always have to choose the profession that best suits you and where you can develop better. For example, you probably won't choose a degree in journalism if you don't consider yourself such a social person (although the example may not be so objective).
- Your values: They are everything you consider essential, your principles, virtues, and qualities. Let's see an example. Do you believe addressing environmental issues is a priority? Do you think people must know their labor rights? These values can help you determine what type of degree matches your values and work ambitions. Remember that this decision will allow you to access the kind of work environment you want and where you can also find the meaning of your work.
- Your family: Those around you will influence your college or university career choice, and their opinion may be essential to you due to their emotional and financial support. However, you should listen to their opinion carefully and consider what is important to you, although they disagree with your decision. Making our own decisions involves a lot of responsibility but also the freedom to decide about our life.
- Your economic context: We know that your socioeconomic situation is relevant in choosing which university to go to and which program to choose. When you decide which career to study, you must analyze how your economic situation is in the short and long term. Also, a good option is to consider the scholarship programs offered by both the universities and the Canadian government and the student loans you have at hand. Remember that some scholarships benefit students inclined towards technology or science careers, so evaluate all your possibilities!
Get to know the Highest-Paid math careers in Canada!
Now that we have talked about all the essential factors you have to determine when choosing your professional path, let's talk more about the economic aspect. Below you will find the highest-paid math occupations in Canada, according to Payscale. We hope that this list will serve as a guideline for you to make it easier to choose the career of your dreams.
Actuary
- What do they do? Actuaries work in insurance companies using statistical analysis to examine costing and trends and maintain their financial health. The actuary's role is to manage risk.
- If you are interested go for a Mathematics degree.
- How much you can earn these days? $96,135 p.a.
An entry-level actuary with less than 1-year professional background can earn a total compensation of $60,780. A mid-career Actuary (5 to 9 yr.) makes an average total compensation of $104,424 per year. When they have been working for over +20 yr., employees could make a full wage of $129,221.
- Best cities for Actuaries: Toronto and Vancouver, British Columbia.
Data Scientist
- What do they do? This professional combines computer science, statistics, and mathematics to analyze, process, and model data to create solutions for companies and other organizations.
- If you are interested go for a Statistics major.
- How much you can earn these days? $80,097 p.a.
An entry-level Data Scientist with less than 1-year experience can earn a total compensation of $71,533. A mid-career Data Scientist (5 to 9 yr.) can make $92,974. In their late career (+20 years), employees could make a full wage of $107,579.
- Best cities for Data Scientists: Vancouver, British Columbia, and Toronto.
Data Engineer
- What do they do? Data engineers are responsible for developing and translating computer algorithms into prototype code to maintain, organize, and identify trends.
- If you are interested go for a Mathematical degree.
- How much you can earn these days? $81,784 p.a.
An entry-level Data Engineer with less than 1-year professional background can earn $67,023. A mid-career Data Engineer (5 to 9 yr.) could make a total of $91,600. For professionals with +20 years of experience, the total wage could be $121,129.
- Best cities for Data Engineers: Burnaby, British Columbia, and Toronto.
Quantitative Analyst
- What do they do? Quantitative analysts create analytical models and research for the best tools to maintain financial and stock portfolios to update companies about their financial situation.
- If you are interested go for a Statistics major.
- How much you can make these days? $77,448 p.a.
An entry-level Quantitative Analyst with less than one year of experience can earn an average total compensation of $72,518. A mid-career Quantitative Analyst with five to nine years of experience makes an average total wage of $110,000 per year.
- Best cities for Quantitative Analysts: Montréal, Québec, and Vancouver.
Analytics Consultant
- What do they do? Analytics consultants develop and implement analytics solutions for their organizations. They create data mining projects and utilize that information to increase consumer brand awareness and revenue.
- If you are interested go for a Statistics major.
- How much you can earn these days? $80,175 p.a.
An entry-level Analytics Consultant with less than one year of professional background can earn a total of $60,154. A mid-career Analytics Consultant with 5 to 9 yr. of experience makes an average wage of $91,266. An experienced Analytics Consultant with +20 years of experience can make $99,461 per year.
- Best cities for Analytics Consultants: Ottawa, Ontario, and Edmonton, Alberta.
Software Developer
- What do they do? Software developers design and perform computer applications. They also customize existing systems that run devices or control networks.
- If you are interested go for a Mathematics degree.
- How much you can earn these days? $68,530 p.a.
An entry-level Software Developer with less than 1-year professional background can earn a total compensation of $58,699. A mid-career Software Developer with five to nine years of experience makes $77,146. In their late-career (+20 years), employees can make up to $90,770.
- Best cities for Software Developers: Vancouver, British Columbia, and Toronto, Ontario.
Business Intelligence (BI) Developer
- What do they do? They are data experts, as they work with databases and different types of software. They usually develop IT solutions, including coding, testing, and implementing newly developed tools.
- If you are interested go for a Mathematical degree.
- How much you can earn these days? $71,792 p.a.
An entry-level Business Intelligence Developer with less than 1-year professional background can earn an average of $56,436. A Business Intelligence Developer with five to nine years of experience makes a full wage of $80,761. When they have +20 years in the field, employees earn an average total compensation of $84,244.
- Best cities for Business Intelligence Developers: Calgary, Alberta, and Toronto, Ontario.
Senior Business Analyst
- What do they do? These professionals identify an organization's strengths and weaknesses to improve. They are in charge of reviewing business processes to face specific organizational needs.
- If you are interested go for a Mathematics degree.
- How much you can earn these days? $82,684 p.a.
An entry-level Senior Business Analyst with less than 1-year experience can earn an average total compensation of $64,489. A mid-career Senior Business Analyst with 5 to 9 yr. in the field makes an average total compensation of $82,453. In their late career, employees earn an average total wage of $92,514.
- Best cities for Business Analysts: Calgary, Alberta, and Edmonton, Alberta.
Database Developer
- What do they do? They are IT professionals responsible for developing and maintaining databases. They analyze database procedures to create solutions by eliminating inefficient coding.
- If you are interested go for a Mathematical degree.
- How much you can earn these days? $78,267 p.a.
A Database Developer with less than one year of professional background can earn an average total compensation of $55,699. A mid-career Database Developer with five to 5 to 9 yr. in the field makes an average total compensation of $80,234. In their late career (+20 years), employees earn a total wage of $87,967.
- Best cities for Database Developers: Calgary, Alberta, and Montréal, Québec.
Here you have them! These are the best-paid mathematics careers in Canada in recent years. Do you want to learn about excellent tools you can use to compare salaries and determine the ideal compensation for you? Keep reading!
Where can I Evaluate my Math-career Salary?
On the internet, you will find accessible and super practical platforms that will help you make the best decisions regarding the career you choose. For example, would you like to know how much your math career's average salary is in Canada? Let's check them out!
- Job Bank: If you want to know more about where to compare wages and discover how much you could make in different parts of the country or between occupations, check out the Job Bank of the Government of Canada. Here you can also get more information about career planning, trend analysis, job positions, recruitment advice, current jobs database, and job search depending on your city and postal code.
- Payscale: Payscale is another platform where you can analyze salary data and learn more about career research to determine what you should earn according to your location and professional experience. You can also consider adding pay factors like skills and education, certifications, specialty, industry, university or college, and province and city. Get to know more about Payscale here.
- Salary Wizard: This platform is another site where you will be able to analyze your salary data. Whether you are researching for job offers, looking to be promoted, or maybe just getting a comparison to see what you should be getting paid, this website will give you fascinating insights. To find out, first enter the job title you are interested in, and then you will get the average annual pay according to your level of experience. Here you can also add some factors that can affect your salaries, such as location, education, years of experience, industry, and even performance of the position. On Salary Wizard, you can even compare more jobs.
- Indeed Estimator Salary for Canada: You can determine the average payment for a job position in Canada through the Indeed Estimator Salary. Here you will learn more about the highest paying cities for that specific job and how much similar professions get paid. On the website, you can compare salaries for math-career in different locations and make the best decision when choosing your career.
- Glassdoor Salary Calculator: In the salary calculator of Glassdoor, you can also get better informed about the average salary for a job position. You can type your desired job title and location to see how competitive your salary is. The information you get here will be completely accurate since Glassdoor uses the data of millions of wages to determine what the market is paying for your dream role.
You can start your personalized and free salary comparison even before deciding on which career you want!
Your future Salary: Get to Know more Useful Tools!
- Youth in Canada: Youth in Canada is another website of the Government of Canada, you can learn more about education, training, jobs, volunteering, and more opportunities for younger people. Here you will be able to:
- Explore career options according to the field of study;
- Get better informed about your future choices;
- Help you obtain the skills and experience to find a job quickly;
- Avoid unnecessary debt;
- Compare salaries;
- Explore job prospects;
- Track job trends;
- Check the unemployment rate;
- Check the number of job vacancies;
- Get a better start on your career.
You can also get more information here about the high school path you must follow to study a math career and more about the most important degrees in math.
Recommendations to Choose the Best Career for You!
How do you know which career is right for you? We often don't even know what we want to have for dinner, and it's normal for you to feel that choosing a career is an overwhelming process. We recommend you read the following tips for you to chill out and enjoy the process:
- Do your own research on all aspects of the job that interest you;
- Talk to as many people in your fields of interest as possible;
- Experiment as much as you can with internships and maybe summer jobs that can be related;
- Reach a professional to take a Vocational Guidance Test to recognize your skills and interests;
- Pay attention to everything that you are passionate about.
The career choice will always be yours. With the internet and new technologies, you have the freedom to do more profound research, learn and grow while you are in this period of your life. We promise you will feel much more confident and satisfied with your decisions.
Has this article inspired you to practice your math skills more? Do you want to prepare yourself better to make the best academic decisions? Are you thinking of studying math but don't feel ready? You will find all the answers to your questions on Superprof!
Superprof Canada is an online platform where you can find the best private classes throughout the country, face-to-face or online, where you will learn how to excel in math, and in everything you have in mind! Prepare to enter the university more easily with Superprof! Math is definitely the right career for you!
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