Personal Finance

How does your income stack up against your neighbours?

  • Last Updated:
  • Sep 13th, 2017 9:53 pm
[OP]
Deal Addict
Sep 7, 2004
1143 posts
186 upvotes

How does your income stack up against your neighbours?

Statscan released the income statistics today and cbc has come out with a nifty site that gives you a quick temperature check on where you fall on the spectrum and what % of folks who make more or less than you do.

http://www.cbc.ca/news2/interactives/ce ... 16/income/

The cbc tool is very broad and only gives you information based on which tax bracket you're in so the relevance of the information will depend on where you sit in that bracket but it's still interesting to see the data aggregated this way.

What surprises me is that the national median income is $34,204 which seems hardly livable in a big city.

Also, according to the globe's interpretation of the data, your best chance at earning $100k+ is to live/work in Toronto

https://beta.theglobeandmail.com/report ... e36242392/
6 replies
Deal Addict
Jul 22, 2015
1391 posts
417 upvotes
Saint-Hubert, QC
gqbluez wrote:
Sep 13th, 2017 8:46 pm
Statscan released the income statistics today and cbc has come out with a nifty site that gives you a quick temperature check on where you fall on the spectrum and what % of folks who make more or less than you do.

http://www.cbc.ca/news2/interactives/ce ... 16/income/

The cbc tool is very broad and only gives you information based on which tax bracket you're in so the relevance of the information will depend on where you sit in that bracket but it's still interesting to see the data aggregated this way.

What surprises me is that the national median income is $34,204 which seems hardly livable in a big city.

Also, according to the globe's interpretation of the data, your best chance at earning $100k+ is to live/work in Toronto

https://beta.theglobeandmail.com/report ... e36242392/
That's because they start at 15 years old.

Surprised to see I make more than the median household income in QC...
Deal Guru
User avatar
Oct 3, 2006
10220 posts
628 upvotes
Toronto
Why don't you post yours first? The median income is also low because it includes people who only work part time.

Here's another income visualizer from Statistics Canada. You can enter your income and select a category and see which percentile you're in for that category: http://www12.statcan.gc.ca/census-recen ... ex-eng.cfm
Last edited by Aznsilvrboy on Sep 13th, 2017 9:08 pm, edited 1 time in total.
[OP]
Deal Addict
Sep 7, 2004
1143 posts
186 upvotes
Aznsilvrboy wrote:
Sep 13th, 2017 9:08 pm
Why don't you post yours first? The median is also low because it includes people who only part time.

Here's another income visualizer from Statistics Canada. You can enter your income and select a category and see which percentile you're in for that category: http://www12.statcan.gc.ca/census-recen ... ex-eng.cfm
Thanks for the link. Good to have more ways to be informed.

With regards to me posting my income first, my title wasn't about asking for specific numbers. We have many threads on here that already give people a forum to post their numbers. This was just more about highlighting a couple tools to help people visualize where it is in the spectrum they fall and where they think their neighbours (used loosely) are.
Deal Addict
Feb 26, 2008
1436 posts
610 upvotes
Those types of comparisons are silly. You shouldn't compare yourself against the entire population because there are a great many students and retirees in the overall population. If you want to know how you are doing, you should compare yourself to a reasonable peer group. That means, if you are age 40-44, you are beginning your prime earning years and you should compare yourself to other people of the same age cohort in their prime earning years. If you are 40, there's just no value in comparing your income to that of a 22 year-old.

For that purpose, you are far better off looking at CANSIM matrix 206-0052. A quick glance at that data will show that the average income of somebody between the age 35-44 bracket is $56,200 and in the 45-54 age bracket the average is $58,400. If you have a post-secondary degree, you should earn more than that average....
Deal Fanatic
Mar 24, 2008
5067 posts
1146 upvotes
Toronto
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