The insurance sector looks set to enjoy some of the highest salary increases in the country next year, as wages in the industry are expected to rise at above average rates in 2017, new statistics reveal.
Canadian employers say that they plan to increase wages by 2.2% next year, outstripping this year’s growth of 2.1%, according to a report by the Conference Board of Canada.
The highest growth is expected to be seen in Manitoba, by 2.7%, followed by British Columbia and Quebec, coming in tied at 2.5%.
But wages in the insurance sector, along with finance and real estate, are set to raise by 2.7% - a higher figure than the national average.
The hike in insurance salaries is beaten only by the tech sector – which anticipates a 2.8% rise – with the food, beverage and tobacco industry coming in third, as it looks to expect a 2.4% increase.
Meanwhile, the aftermath of May’s Fort McMurray disaster – which the insurance industry continues to grapple with – coupled with a massive downturn in energy prices in recent years, means Alberta is set to experience the lowest increase in wages nationally, with growth predicted at 1.4%.
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