Choosing a major in university can be a daunting decision, as students want to ensure they have good job prospects and a high-paying career after graduation. On April 18, Statistics Canada released a comprehensive report on the labor market outcomes for college and university graduates in Canada, providing valuable information on the median employment income by educational qualification, the field of study, gender, age group, and student status.
The report provides a wealth of data at the national, provincial, and territorial levels, and includes a separate category for international students. According to the report, graduates with college-level diplomas have a median employment income of $49,000, while those with undergraduate degrees have a median income of $64,000 five years after graduation. These figures provide a general overview of the labor market outcomes for graduates, but it's important to note that specific fields of study have a significant impact on employment income.
The report reveals that Health and related fields have the largest number of graduates with a career, technical, or professional training diploma. Graduates in this field have a median income of $45,000 five years after graduation, with many job opportunities available in healthcare and related industries. Mathematics, computer, and information sciences have the most profitable career, with an annual income of $56,400. Graduates in this field have a median income of $69,000 five years after graduation and many job opportunities available in technology and related industries.
Business, management, and public administration are the most popular fields of study for undergraduate degrees, with 33,320 graduates. However, the report reveals that graduates in this field have a median income of $56,000 five years after graduation, which is lower than the median income for all undergraduate degrees. The report notes that graduates in this field face strong competition for jobs and may need to gain additional experience or qualifications to secure higher-paying positions.
Architecture, engineering, and related technologies have the most profitable major, with a yearly income of $80,000. Graduates in this field have a median income of $80,000 five years after graduation and many job opportunities available in architecture, engineering, and related industries. Graduates with a master’s degree in Personal, protective, and transportation services have the most profitable career, earning $102,200 annually. This field includes careers in law enforcement, firefighting, and transportation, with many job opportunities available in government and related industries.
Graduates with a doctorate degree in Business, management, and public administration earn the most, with an income of $117,600 a year, ranking first in the report. This highlights the importance of further education and specialization for graduates who want to maximize their earning potential in this field.
High-paying programs are highly competitive in universities. For example, the Sauder School of Business Commerce program at the University of British Columbia has an admissions average of 94%, making it one of the most difficult programs to get into in the country. Similarly, the engineering and computer science programs at UBC both have averages above 90%.
The report also reveals significant differences in employment incomes between domestic and international students. Domestic students earn more than international students, regardless of their degree. The median income of international students with an undergraduate degree is $56,900, while the median income of domestic students with an undergraduate degree is $64,400. For a master's degree, the income of international students is $82,400, while the income of domestic students is $74,700. For a doctorate degree, the income of international students is $82,600, while that of domestic students is $91,700.
The report provides valuable information for students and parents in choosing a major and highlights the importance of international students in the Canadian labor market.
Edited By: Ritaja Kar
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