In 2023, the top 1% of tax filers in Canada had an average income of approximately $606,000, with a minimum cutoff of $293,800 to enter this bracket. While a salary of over $160,000 is generally considered high (top 5%), true "rich" status often correlates with top 1% earnings or a net worth in the millions, particularly in high-cost cities.
From 2022 to 2023, the inflation-adjusted average income declined among the top 1% of Canadians with the highest incomes. Average income of this population edged down 0.6% to $606,000 in 2023, while that of filers in the top 0.1% group declined 1.0% to $2,131,900.
Top 10% The top 10% percent of income earners are those who are considered to be upper middle class as well. The threshold amount for the top 10% is $125,945. This amount is only slightly higher than the top threshold for middle-class income, which is $106,717.
Recent Trends – Number of households earning $100K or more
In 2025, the number of Canadian households earning $100,000 or more is projected to reach 6.4 million, driven by rising wages, continued government interventions and economic recovery after the COVID-19 pandemic.
Wondering what kind of jobs earn a staggering $300,000 or more per year in Canada? While this income level represents the top 1–2% of earners, it's achievable in several high-demand and specialized fields—particularly for skilled professionals with years of experience and strong credentials.
Positions with a $1 million annual salary are most commonly found in executive leadership (such as CEOs and CFOs), high-level finance roles (like investment bankers or hedge fund managers), specialized medical professions, and top-tier sales or technology roles (such as senior partners or principal engineers).
Upper-Middle Class Net Worth (60-80%) The upper-middle class in Canada (60th-80th percentile) has a median net worth of $1,078,600 and an average of $1,097,141 as of Q2 2024 (Statistics Canada).
A salary considered "rich" varies greatly by location and perspective, but generally involves being in the top 1-5% of earners, often requiring $700,000 to over $1 million annually for the top 1%, though some surveys suggest a much lower, yet still high, figure like $500,000+ to feel rich, with public perception often placing it around $275,000-$520,000 for comfort or richness in the U.S. Location is key, with high-cost states like Connecticut needing over $1 million for the top 1%, while less expensive states need significantly less.
A millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency.
For example, in 2021, the top one per cent income group paid 22.5 per cent of all income taxes, but accounted for 10.4 per cent share of the country's total income. The top 10 per cent income group paid 54.4 per cent of all income tax, but had a share of the country's total income of 34.4 per cent.
53 provincial MBM thresholds, 2020
from $38,500 CAD for small communities in Quebec to $50,500 CAD for Vancouver. Canada's three most populous metropolitan areas and their corresponding 2020 threshold amounts for a four-person family have been highlighted.
The Top 1% Threshold: To enter the top 1% in Canada, an individual must earn approximately $315,911 per year.
To be in the top 1% of US earners, you generally need an income well over $700,000 nationally, with figures around $794,000 cited for recent years, but this varies significantly by state, requiring over $1 million in places like Connecticut and Massachusetts, while being around $400,000-$450,000 in lower-cost states like West Virginia and Mississippi.
Very few Canadians ever receive incomes that high, from any source. In 2021 (most recent data), only 1.5% of tax-filers had total income (from all sources) over $250,000.
600k jobs
500k salary $500,000 jobs
The highest paid specialties include ophthalmology, neurosurgery and urology. Along with cardiothoracic surgery, obstetrics & gynecology.