Tuesday, September 3, 2019 Schooled Does higher education pay off? Guide Magazine Canada is number one among the Organisation for Economic Co-operation and Development countries in the proportion of people who graduate from college and university. But does all that education pay off? For most, the answer is yes. Here’s a look at the earning and employment potential of university, college, trades, and high school only graduates. Education Levels Canadians Aged 25 to 64 (2016) 31.6% graduated from university. 28.5% have a bachelor degree or higher. 3.1% have a university certificate. 22.4% graduated from college. 10.8% have an apprenticeship or trade certificate. 24% have a high school diploma only. University Who (2016) 40% of women aged 25-34 have a bachelor degree or higher. 29% of men aged 25-34 have a bachelor degree or higher. Length 4 years, average bachelor degree Cost (2018) Undergrad tuition – $6,838 per year Graduate tuition – $7,086 per year Total cost (school and housing*) – $20,000 per year *If you live away from home Average Annual Earnings (Bachelor degree, 2015) Women – $68,342 Men – $82,082 10 Top Earning Majors* 1. Management sciences – $110,000-$115,000 2. Petroleum or chemical engineering – $104,000 3. Finance – $103,376 4. Pharmacology – $102,398 5. Geosciences – $100,006 6. Software engineering – $90,001 7. Business administration – $85,508 8. Specialized engineering – $85,009 9. Nursing – $84,510 10. Civil engineering – $80,080 *Average salary, 2017 dollars Employment Rate* Bachelor degree Women – 71.6% Men – 75.8% Above bachelor degree Women – 73.4% Men – 74.5% *Age 25+, September 2018 Trades Apprenticeship Who (2016) 15% of men aged 25-64 have a trades certificate. 7% of women aged 25-64 have a trades certificate. Length 2-5 years, depending on the trade Cost (2018) $400–$800 per level Average Annual Earnings (2015) Women – $38,230 Men – $72,955 10 Top Earning Trades (2018) 1. Power system electricians – $42/hr. 2. Boilermaker – $40.84/hr. 3. Elevator constructors and mechanics – $40/hr. 4. Electrical power line and cable workers – $37.42/hr. 5. Ironworkers – $37/hr. 6. Bricklayers – $37/hr. 7. Steamfitters, pipefitters, and sprinkler system installers – $36/hr. 8. Concrete finishers – $36/hr. 9. Electricians (except industrial and power system) – $35/hr. 10. Plasterers, drywallers/finishers/lathers – $34/hr. Employment Rate In 2011, the employment rate for those with an apprenticeship or trades certificate or diploma was 77.8%. Over the next 10 years, it is estimated that over 261,100 tradespeople will retire in Canada, while only 221,300 will enter the field, resulting in a significant shortage. In addition, due to the aging population, the overall number of people who are considered to be in their working prime (age 25-54) is expected to decline. These factors will make it increasingly difficult to replenish the retiring workforce, which translates to lots of opportunity for a career in the trades. College Who (2015) 26% of women have graduated from college. 19% of men have graduated from college. Length 1-4 years, depending on the program Cost (2018) $2,500–$10,000 per year, depending on the program Average Annual Earnings (2015) Women – $48,599 Men – $67,965 Top Programs Graduates with health sciences and trades certificates have strong employment rates and the chance to earn moderate to high-paying incomes. Employment Rate* Women – 65% Men – 72% *Age 25+, September 2018 for all college graduates, including tradespeople High School Only Who 23% of women 25% of men Average Annual Earnings (2015) Women – $43,254 Men – $55,774 Employment Rate* Women – 56.7% Men – 66.6% *Age 25+, September 2018 Sources: Statistics Canada, Canadian Apprenticeship Forum Previous Next You might be interested in Skill and Care on the Milk Route 17 Sep 2026 Building Skills, Growing Careers 15 Sep 2026 CLAC's Statement on Canada's Energy Future 14 Sep 2026 Seeing Clearly 13 Sep 2026