Toronto Market Data

Explore compensation benchmarks, tax liabilities, and cost of living adjustments for professionals in Toronto.

About Toronto

Canada’s financial and tech center. High provincial taxes are offset by strong quality of life metrics and universal healthcare.

Toronto represents a primary financial and business hubin Canada, attracting professionals from around the world. The city's strategic location, business-friendly environment, and quality of life make it an attractive destination for career growth and wealth accumulation.

Key Market Indicators

Cost of Living

Index score (100 = global average)

Rent Index

Housing cost indicator

Median Income

$84,000

Estimated professional median

Tax System in Canada

Canada utilizes a progressive tax system combining federal and provincial rates. The Canada Pension Plan and Employment Insurance are mandatory payroll deductions.

Example Calculation

For a professional earning $84,000 annually in Toronto:

Gross Income

$84,000

Net Income

$62,908

Tax Rate

25.1%

Monthly Take-Home

$5,242

Popular Salary Benchmarks

Explore compensation data for key roles in Toronto

View All

AI Engineer

$180,000

Estimated base salary

Executive

$250,000

Estimated base salary

Compare with Similar Markets

New York

The global financial capital, characterized by high compensation but significant cost of living and local tax burdens.

San Francisco

The epicenter of global technology, offering the highest base salaries adjusted for a fiercely competitive housing market.

Los Angeles

A media-tech nexus where entertainment, gaming, and aerospace intersect, commanding premium pay with California tax drag.

Chicago

The Midwest’s trading and private equity hub with comparatively moderate housing costs.

Boston

Deep biotech and hedge fund density supported by elite universities and a high cost of living.

Washington D.C.

Policy, defense contracting, and consulting anchor premium salaries with steady federal demand.

Frequently Asked Questions

What is the cost of living in Toronto?↓

Toronto has a cost of living index of 70 and a rent index of 69, making it a moderately priced city. Housing costs are manageable relative to other major cities.

How does the tax system work in Canada?↓

Canada utilizes a progressive tax system combining federal and provincial rates. The Canada Pension Plan and Employment Insurance are mandatory payroll deductions.

What is a good salary in Toronto?↓

For professionals in Toronto, we estimate the median income at approximately $84,000. A salary above this level provides comfortable living standards, while salaries significantly below may require careful budgeting, especially for housing in prime districts.

What industries are strongest in Toronto?↓

Toronto is a major business hub with strong presence across multiple sectors. The city's status as a financial and technology center attracts professionals from various industries, with particularly strong opportunities in finance, technology, and professional services.