A difference between American trades and Canadian trades is money and currency. Here are some key jobs of the trades and the pay difference between American and Canadian jobs: Plumbers: $68,847CAD but $51,525.09USD; Heavy Equipment Operators: $72,228.00CAD but $54,055.44USD; Carpenters: $73,762CAD but $55,203.48USD; HVAC Installers: $83,766.00CAD but $62,690.47USD; Mechanics: $ 80,329.00CAD but $60,118.22USD; or Electricians: $74,067.00CAD but $55,431.74USD; lastly, Truck drivers: $77,064.00CAD but $57,674.70USD. Even the highest paid trade jobs are different for each country.
The highest paid skilled trade in America 2023 |
The highest paid skilled trade in canada 2023 |
Construction manager | Truck driver |
Elevator and escalator installers/repairs | Plumbers |
Radiation therapists | Welders |
Nuclear medicine technologists | Electricians |
Dental hygienists | Millwright |
Electrical and electronics engineering technician | Bricklayer |
Aircraft and avionics equipment mechanic and technicians | Sheet metal worker |
Boilermakers | Carpenter |
Construction and building inspectors | Heavy equipment mechanic |
Electricians | Chefs |
So you may see the number and trade difference and think “WOW, that is a significant difference”. Because I sure did, but it takes 1.2 CAD to make up 1 USD. Which means a Canadian dollar is only worth 0.833 USD. In the chart below are the key factors of what give the currency its value, you will see that the factors that affect the USD and the CAD are very different as well. Which would make the pay difference between America and Canada make sense, right?
USD |
CAD |
Macroeconomic indicators | Interest Rates |
Monetary policy | Economic Performance |
Political and geopolitical events | Commodity Prices |
Market sentiment and investor confidence | Political Stability |
Trade and current account balances | Global Economic Factors |
Market speculation and interventions | Market Sentiment |
Global economic and financial conditions |