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Salary Trends in the USA and Canada You Need to Know in 2021

Jan 6, 2021 | Business

Despite the pandemic’s adverse effects on the economy, a recent survey reveals most US companies are planning to give their employees pay raises and bonuses in 2021. A study was done by Willis Towers Watson data services projects that average salaries and bonuses will increase by 2.8 percent for all employees across different niches in 2021. Company executives and non-exempt employees and those paid hourly rates are likely to get a raise of 2.7 percent.

What Is the Likely US Average National Entry-Level Salary in 2021?

Currently, the national average salary for entry-level employees is  $32,592 in the US. This trend is likely to be maintained or change slightly on the upward trajectory in 2021. Notably, nine US states are paying entry-level salaries that are higher than the national average. Topping this list is Washington, followed closely by Maryland and Nebraska. Washington pays an average annual salary of $35,793 and an average hourly rate of $17.21. Maryland pays a yearly average salary of $35,187 and an average hourly rate of $16.92. The State that pays the least is Illinois, paying an average annual salary of $25,712 and an average hourly rate of $12.36.

The Best Highest-Paying Jobs for 2021 in the USA

Digital Marketing Specialist

With more companies exiting the analog world for digital, there will be a massive demand for digital marketing specialists in 2021. Essentially digital marketers do the same job like any other marketing professionals, but they ply their trade on online platforms like social media. The average salary for this position is $57,237 per year.

Graphic Designers

Graphic designers will also be a highly demanded job in 2021. Companies are focusing their resources on marketing campaigns, and graphic designers will offer the much-needed talent. The average salary for this position is $ 45,677 per year.

Data analysts

In the age of Big Data, companies have realized the importance of data that allows them to learn consumer habits. Data analysts’ jobs will be highly demanded as companies gather information to help them in their marketing efforts. The average salary for this position is $62,453 per year.

Nurse Practitioner

The current COVID 19 pandemic has put undue pressure on healthcare systems, and nurse practitioners will be one of the most demanded jobs in 2021. It is estimated that there will be up to 150,000 nursing job openings in the coming years. The average salary for this position is $110,076 per year.

Canadian Salary Trends That You Need to Know in 2021

The COVID 19 pandemic has forced up to 36 percent of the Canadian companies to freeze salaries for employees in 2020. This trend is likely to extend to 2021, with human resources consulting firm Morneau Shepell revealing 13 percent of the 889 organizations it monitors already confirming plans to freeze salaries in 2021. The study also reveals up to 46 percent of employers are uncertain of earlier plans to increase salaries in 2021.

What Is the Predicted Average Canadian Entry-Level Salary in 2021?

Currently, the national average Canadian salary is $1,114.37 per week for all employees across the country. Bearing in mind that most employers are planning to freeze salary increases, this trend is likely to extend to 2021. Available data reveals the current minimum hourly rates for all employees by province and territory is as follows:

  • Nunavut – $87,355
  • Northwest Territories – $77,670
  • Yukon – $61,812
  • British Columbia – $53,416
  • Alberta – $61,865
  • Saskatchewan – $54,371
  • Manitoba – $49,661
  • Ontario – $55,524
  • Quebec – $51,735
  • New Brunswick -$49,511
  • Nova Scotia – $48,470
  • Prince Edward Island – $45,912
  • Newfoundland and Labrador – $55,508

The Projected Canadian Job Sectors With the Highest Annual Salary in 2021

Canada has several high paying industries. Some of the top-paying sectors in 2020 that are likely to continue paying competitive salaries and bonuses in 2021 include oil, gas and mining, healthcare, IT, and finance industries:

  • Mining, oil and gas extraction – Current annual average pay $113,506
  • Nursing Current annual average pay $104,000
  • Utilities  Current annual average pay $101,531
  • Finance and insurance Current annual average pay $76,843
  • Professional scientific and technical services Current annual average pay $76,077
  • Public administration – Current annual average pay $75,799

The projected Canadian job sectors with the lowest annual salary in 2021:

  • Arts entertainment and recreation Current annual average pay $40,241
  • Retail – Current annual average pay $34,503
  • Accommodation and food services – current annual average pay $22,877

Key Takeaway

From our analysis above, employers in the USA and Canada are reading from different scripts regarding salary raises in the coming year. Most US employers are optimistic the economy will rebound and plans to raise salaries for their employees. However, the keyword is “uncertainty” for the Canadian employers, with most of them putting on hold scheduled pay raises for 2021.

Are you are an investor setting up a base in Canada and need help with employees? We can help you hire the best talent in your industry locally. Contact us today for more information about our services.  

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