Money is on the mind of many Canadians as some face tough financial times, but employees in B.C. are expected to receive the highest salary increases in Canada next year.
Eckler, a Canadian consulting firm, shared some salary data with its latest compensation planning survey, which excludes salary freezes.
It found that nationally, Canadian organizations are planning average base salary increases of 3.3 per cent next year, which is slightly lower than the actual increase of 3.4 per cent this year.
According to Eckler, the number is “signalling a more cautious approach to budget planning amid slowing economic conditions and stabilizing inflation.”
However, residents in B.C. are expected to see the highest increases in Canada, with 3.4 per cent, tied with Alberta.
Anand Parsan, principal at Eckler, says that trade tensions between Canada and the United States are contributing to financial uncertainty, “prompting employers to balance cost control with the need to reward and retain key talent.”
Despite B.C. being tied for the highest expected salary increases next year, this is the third consecutive year of slowing salary growth nationally. Saskatchewan follows with a projected salary increase of 3.3 per cent.
Ontario, Manitoba, New Brunswick, Nova Scotia, and Yukon are expected to see moderate salary increases of 3.2 per cent.
Regions expected to see the lowest increases include Newfoundland and Labrador (three per cent) and Nunavut (2.3 per cent).
A shaded map of Canada displaying average projected salary increases by province and territory for 2026. (CNW Group/Eckler Ltd.)
Eckler also outlines which industries are expected to see the most significant projected salary increases.
The top sectors include professional services (3.7 per cent), agribusiness/agriculture and banking/insurance (3.6 per cent).
Mid-range sectors include government agencies, the tech industry, real estate, utilities, construction, retail, manufacturing, member associations and transportation, for which Eckler projects a 3.2 to 3.4 per cent salary increase.
Sectors with the lowest projected salary increases include charities, foundations, and energy/oil and gas (three per cent), as well as education and healthcare (2.9 per cent).
Eckler’s data is based on a survey that was conducted between July and August of this year, which included responses from over 500 Canadian organizations.