Toronto Hits Record-High Tech Worker Pay Growth | MyConsultant

Toronto Hits Record-High Tech Worker Pay Growth

Recent research has uncovered a 9% jump in Toronto’s tech wages in 2018, a growth on par with Boston’s as the two fastest-growing cities for tech wages.

One of the 13 cities in the 2019 State of Salaries report in Hired magazine, Toronto is on its way to becoming more competitive with its US counterparts. Immigration has partially fueled Toronto’s success as the fourth largest tech hub in North America — a CBRE study found it to be the world’s fastest growing tech jobs market in 2017.

Still, Toronto’s wages haven’t caught up to Silicon Valley’s. While GTA tech workers make an average of $100,000 per year, Silicon Valley workers make $145,000 (US) per year, or $192,000 in Canadian dollars.

Tech hubs everywhere are struggling with shortages of qualified workers and Toronto is no exception. Still, tech continues to be a thriving economy in Toronto; a separate study by TechToronto found that 15% of Toronto’s workforce was employed by the tech sector in 2016.

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