Therefore, you can think of this group of earners as slightly richer middle-classers. However, many analysts would consider anybody earning more than $100,000 as upper middle class. Upper middle class earners in Canada can get from $106,827 to $236,000. So, what’s the upper middle class? Are they rich or not? Well, they’re certainly not anywhere near the poverty line, but they’re not exactly mind-bogglingly rich, either. Additionally, the middle-class net worth in Canada is about $329,900, since half of all Canadians fall under this threshold, according to stats from 2019. ![]() Moreover, such earnings will allow you to have all the necessities, opportunities for saving, and some leftovers for holidays or leisure activities. ![]() On the other hand, the ideal income for mental and emotional well-being is between $95,000 and $100,000. According to studies, to live comfortably in Canada, residents should strive for an annual salary of about $75,000. Believe it or not, the top 5% of earners have salaries above $265,530, while the top 1% earn an eye-watering average of $685,000! Middle classĪs you can see from the table above, Canada’s middle class income ranges from approximately $50,000 to around $100,000. ![]() If you earn more than $236,000 per year, you can safely say you’re part of this minority and what’s considered “rich”. The table above shows the upper class’ income in Canada, where the top 10% of Canadians fall in terms of the income distribution. Namely, I’ll explain who the middle and upper classes are, and who constitutes the upper middle class in Canada. Let’s look at another table consisting of the average income by province for 2020: Province Of course, the average income also differs depending on the province, so if you’re middle class in one province, you might be upper-middle in another. Plus, keep in mind that these earnings represent the after-tax income of Canadian families. However, we shouldn’t take these numbers as gospel because the household thresholds are volatile and the classes can be defined according to other factors. Now we have a clearer picture of the income classes in Canada. Here’s what the numbers look like for a family of three: Income group Therefore, I took it upon myself to compile the most common divisions, and present the corresponding annual salaries. In fact, many researchers have given their opinion on how we should divide groups of people within income ranges, but there doesn’t seem to be a final decision. Unfortunately, Canada’s income classes aren’t cut and dried. However, to ensure we’re participating in a non-discriminatory and just society, we must push back on such courtesies and have uncomfortable conversations. Some might want to hide their low earnings, while others don’t like announcing that they fall in the upper class in Canada. ![]() This might be number-heavy, so be all eyes! Income Classes in Canadaĭiscussions about salary can be a touchy subject for many people. So, here I’ll talk about the different income classes, and the upper, middle, and upper middle class incomes in Canada. Did you know that around 15.7% of Canadians have an annual income of $100,000 or more?Ĭurious about how you fare regarding income? Welcome to the club! Many Canadians would like to know more about their income class and the earnings they should expect.
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