B.C. tops provinces for expected salary increases next year

September 27, 2024

B.C. workers are expected to enjoy the largest salary hikes in Canada next year, according to the actuarial consulting firm Eckler.

Its consultants surveyed more than 500 large companies across a range of sectors and industries to find that workers across Canada can expect wages to rise 3.6 per cent next year, down from 3.8 per cent this year.

In B.C., workers can expect an average 3.9 per cent wage hike, Eckler said in a Monday news release.

“As inflationary pressures dissipate, planned salary increases are moderating more slowly; resulting in larger real compensation increases for employees,” said Anand Parsan, national compensation practice leader at Eckler.

“We are beginning to see a reversion to pre-pandemic norms.”

The sector with the highest projected average salary increase is real estate (4.2 per cent). At the other end of the spectrum, health care (2.8 per cent) and education (2.9 per cent) were the sectors where workers can expect the lowest salary increases.

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