Average Canadian annual income by age revealed – see how you compare

According to the Canadian Census, average income in the North American country tends to rise steadily with age. Until it doesn’t, that is (as you're about to find out). Based on national income data for individuals across all provinces and territories of The Great White North, a clear pattern emerges: earnings increase through early adulthood and peak in middle age before gradually declining as workers approach retirement. While these numbers vary by industry, region and gender, the age-based median averages offer a useful snapshot of how Canadians earn across the different stages of their lives. In Canada, at least, age is quite a strong predictor of average income. While not everyone follows the same path, the 2021 census data helps highlight the earning arc most Canadians experience across a lifetime… (Picture: Getty Images)

Age 15-19. Average annual income: $10,060

Canadians aged 15 to 19 - you won't be shocked to discover - earn the least, with an average annual income of just $10,060. At this age, many are still in school or are just working part-time - often in retail, food service, or some other entry-level, lower-paid roles. We're generally talking about a mix of casual jobs and short-term employment. But it does also cover the start of real careers, it's just that the money's never great in the beginning (Picture: Getty Images)

Age 20-24. Average annual income: $24,420

Income picks up significantly in the 20 to 24 age range, averaging as it does at $24,420 a year. This is often the period when people enter the workforce full-time after high school or university. Though many still earn relatively low wages, some are starting to gain experience or pursue skilled trades and other vocational paths (Picture: Getty Images)

Age 25-29. Average annual income: $38,600

By ages 25 to 29, Canadians see average earnings jump to a healthy $38,600. Many in this group are beginning to establish careers, move into higher-paying roles and make a bit of an impact in their chosen vocation or job. It’s a transitional phase for a lot of Canadians. If they're doing well, things like property purchase becomes possible for the first time (Picture: Getty Images)

Age 35-39. Average annual income: $53,650

Canadians aged 35 to 39 earn an average annual wage of $53,650. This reflects continued career progression for many workers. It’s also a time when people tend to be more firmly rooted in their industries and careers. Earnings growth may slow slightly depending on the sector, but this group typically earns more than their younger colleagues (Picture: Getty Images)

Age 40-44. Average annual income: $56,950

The 40 to 44 age bracket sees a rise to an average of $56,950. These are often peak career years for workers, particularly for those in management, healthcare, education and skilled trades. Job stability tends to be higher in this age group, as people are set in their ways and are less likely to change industries (Picture: Getty Images)

Age 45-49. Average annual income: $58,700

At 45 to 49, average income hits its highest point, a zenith of some $58,700. This is typically the top of the earnings curve for Canadian workers. Most people in this age group have decades of experience, with many holding senior or leadership roles in their chosen sector. People are mature and pragmatic at this kind of age too, but still young enough to have energy and look for career advancement if it suits them (Picture: Getty Images)

Age 50-54. Average annual income: $56,950

Working folk in Canada aged between 50 to 54 years old maintain a decent average income of $56,950. While still quite high, this number often reflects something of a plateau in career advancement. Some people begin planning for retirement at around this kind of age, shifting to less demanding roles, or potentially facing age-related hiring bias if they change jobs (Picture: Getty Images)

Age 55-59. Average annual income: $52,900

Incomes start to decline somewhat at ages 55 to 59, with an average expected salary of $52,900. Although plenty of Canadians continue working full-time at this age, some seek to reduce hours or shift into an adjacent but somewhat less challenging role, contract work, or part-time position. Early retirement can play a role in reduced earnings here too (Picture: Getty Images)

Age 60-64. Average annual income: $46,640

The 60 to 64 age group in Canada sees their average income drop down to $46,640. Many Canadian workers in this bracket are winding down their careers, understandably. Some are semi-retired or collecting private pensions, while others stay employed longer out of financial need or personal choice. But many are reducing hours and/or responsibilities and looker for an easier life and better work/life balance (Picture: Getty Images)

Age 65+. Average annual income: $39,360

Our final age bracket now. At 65 and older, the average income north of the US border falls to $39,360. Most Canadians in this age range have either retired, are working part-time or are further winding down their careers in some respect (less responsibilities, etc.). Pension income, government benefits and savings replace wages for many, but not all, older adults. So the requirement to earn money has often faded away a little (Picture: Getty Images)