Commensurate salary calculation may sound complex, but it’s actually pretty simple once we break it down to the basics. By taking this small collection of critical but simple things about commensurate matters below into account, you’ll be able to be sure that your US-imported tech talent takes off in the Canadian arena without a hitch.
The Correct Concept of ‘Commensurate’ in Commensurate Salary
First, we have to cover what the contextually appropriate definition of commensurate to use here is. To put it simply, commensurate is formal term to define “proportional”. After taking the differences between international currencies through foreign exchange rates into account, we’re left with a fairly clear picture the most appropriately scaled salaries should be for remote workers taking their talents from one country to another.
In other words, the correct commensurate salary could be called the consistent salary; this is essential to ensure that workers are successfully paid an amount that accurately corresponds to their jobs on a universally balanced basis.
Comparative Fast Facts on Historic Canadian Earning Stats
Now the differences between the American dollar and the Canadian kind are far from staggering (they are just about up to par), but they deserve a good look for the sake of the topic all the same. Several interesting trends in Canadian salary data can be found by taking a good look at the statistics. We don’t need to know all of them just for the sake of this article, but a few of note that can help put things in perspective may be good to take note of.
According to Statscan’s collective Canadian salary reports, the average increase in nominal earnings of Canadian workers in the scientific, construction, educational, financial/ real estate, academic, and resource extract centric fields was about 33% between 2001 and 2009. Resource extraction heavily curved the grade at a whopping 61% growth rate for the decade while the scientific field ranked in at the closest to it’s starting earning average at just. A 3% growth rate. The three professional fields closest to the mean for Canadian nominal earnings growth over the decade were construction (27%), educational services (27%), and finance/real estate (37%).
Curated Corporate Canadian Commensurate Salary Reports
Even though professorial nominal earnings have suffered a notable lag in the comparative growth rate compared to other fields due to the rising frequency of PhD’s, the same is not the case when it comes to the technology field. The technological field is fast growing and will demand a higher level of innovative talent to command higher corresponding wages, make the proper understanding of commensurate salaries regarding this sector essential.
Though some policies like these may seem a little dense at first glance, you can rest assured, all it takes is a few bullet points regarding the most relevant sectors to keep current whenever you need the reference.
Cross-industrial average annual salary statistics reported by Internations provide a solid window of perspective on the closely comparative earnings between professionals in the US and Canadian markets respectively.
- For the Information Technology sector, Internations reports that average American annual salary is about $57,690. In comparison, the commensurate average annual salary in the Canadian Information Technology sector is $77,410.
- For Accounting, Administration, and HR, the average annual American salary is $34,030. The Canadian average annual salary for Accounting, Administration and HR is $45,650.
- In sales and marketing, the average American annual salary is $45,740. In the Canadian sales and marketing in the street, commensurate annual salary is seated just about $61,365.
Further Learning
If you have any questions on the more contextual side regarding what your company may need specifically, feel free to reach out to ask for more information. You can contact us here any time for a consultation, and we will be happy to answer any questions that you may have about the most important matters.
