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 Standing Your Ground, and Staying Steady on the Job 4 Jun 2026 CLAC Partners with Alberta Government to Advance Skilled Trades Training and Accelerate Certification 4 Jun 2026 Strathcona Mechanical Workers Ratify New Agreement Providing Wage, Scheduling Improvements 3 Jun 2026 Ready to Deliver 3 Jun 2026