To be in Canada's top 1% of income earners, you generally need a total income over $290,000, with recent data from 2023 showing a threshold of $293,800, while earlier data from 2022 indicates around $283,200, with median incomes for this group reaching over $388,000 and averages exceeding $580,000, often earned by older, married professionals with diverse income sources.
The top one per cent of tax filers made an average of $606,000 in 2023, according to Statistics Canada's most recent “high-income Canadians” report. In contrast, Canadian tax filers on average made $59,900 that year when adjusted for inflation. Most groups saw their average inflation-adjusted income decrease that year.
Earning 200K in Canada is decent across the country. It puts you into the top 1% of income anywhere in Canada according to StatsCan.
There are significant sources of uncertainty in the data. PBO finds that there were approximately 169,400 families in the top one per cent in 2023, and they each had a net wealth of at least $7.4 million.
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.
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.
Listed below are the highest paying degrees in Canada:
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.
If you're in the market for a high-paying gig, it might be more in reach than you think. According to a November report from ADP, 1 in every 127 jobs pays more than $500,000 a year in the U.S.
The report revealed that, on average, a net worth of around $2.3 million is required to be considered "wealthy," while a net worth of $839,000 is sufficient to be "financially comfortable." These numbers also varied by generation.
To be a top 1% earner in Canada, you need to make at least $586,900, according to data released in 2024 by Statistics Canada. The wealthiest households accounted for almost two-thirds (64.8%) of Canada's total net worth in the fourth quarter of 2024, with an average of $3.3 million in earnings per household.
Of the 1.5 million households who fall into the top 1% of earners, the national average annual income to be part of the group is $731,492. In 2023, the latest year we have data for, the median household income in the U.S. was $80,610, according to the Census Bureau.
The top 5% of Canadian taxfilers had total income (including capital gains) of $153,900. In Nova Scotia, the top 5% of taxfilers had income of at least $127,300. Halifax's top 5% of taxfilers had incomes of at least $142,800. The top 10% of taxfilers in Canada had total income (including capital gains) of $115,000.
In order to be considered wealthy in Canada, you should have a net worth of at least $1 million. That being said, a lot of Canadians who are considered wealthy live a relatively normal life. Most of their net worth is in their primary residence, investments, retirement packages, or even a mix of the three.
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.
However, only 2% of filers earn over $200,000 per year, making the average Canadian salary seem and average wages across the country seem very low.
To be in the top 1% of income tax payers in the UK (i.e. to be among the 310,000 individuals with the highest income), a taxable income of at least £160,000 is required. £236,000 is required to be in the top 0.5% and nearly £650,000 to be in the top 0.1%.