Saturday, September 14, 2013

Median Income (and Median Income Among People Like You) in Canada

According to the latest National Household Survey by Statistics Canada, median income in Canada is $49,351.  However, as pointed out by a blog post by the Vancouver Sun, this includes all Canadians.  As such, it includes men and women, high school drop-outs and PhDs, and all ethnic groups. 

In order to give you a better sense on how your income compares to people similar to you, the authors of the blog post created a calculator to identify the median income of "people like you" (based on the Statistics Canada data):

 I found this an interesting tool. For example, the median income of "someone like me" is significantly higher than the national average:  $91K. The calculator also gives you the means to look at how different groups compare. For example, the median income for an individual without a high school education falls to $35K for all genders, and $22K for those 15 to 24 years of age.  I found some of the differences quite striking when I compared the average income of specific education/age groups by race.

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