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Average Salaries in Prince Edward Island

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Canada Employee Benefits News and Trends - ebs
Average Salaries in Prince Edward Island

Prince Edward Island is renowned for beautiful sandy beaches, fresh lobster rolls, and a relaxed seaside lifestyle. But how do Average Salaries in Prince Edward Island compare to the rest of Canada in the smallest province?

This guide will analyze P.E.I. salaries across numerous metrics, occupations, locations, industries, and factors impacting earning potential. By the end, you’ll have a data-driven perspective on wages and standard of living.

How Average Salaries in P.E.I Compare Nationally

How Average Salaries in Prince Edward Island Compare Nationally
How Average Salaries in Prince Edward Island Compare Nationally

Let’s start by comparing some key economic indicators:

Lowest GDP Per Capita

According to Statistics Canada, in 2019, P.E.I. had the lowest GDP per capita of all provinces, at just $39,871. This compared poorly to the national average of $56,304.

GDP per capita measures the total inflation-adjusted value of goods and services produced divided by the population. It indicates that the economic productivity and prosperity level of P.E.I. residents significantly trail other provinces.

GDP Per Capita by Province (2019)

ProvinceGDP Per Capita
Prince Edward Island$39,871
National Average$56,304

Lowest Median Employment Income at $30,100

P.E.I. holds the undesirable position of having the lowest median employment income in Canada at just $30,100.

Median employment income includes pre-tax wages, salaries, and commissions earned by employed individuals, including employees and the self-employed.

$6,750 Below National Median Income

The median employment income in the rest of Canada (excluding Atlantic provinces) was $36,850. This was $6,750 higher than P.E.I.’s median income of just $30,100.

This demonstrates the typical employed Islander earns significantly less than most other Canadians. Closing this substantial wage gap remains an economic priority.

Median Income Comparison

RegionMedian Income
Prince Edward Island$30,100
Non-Atlantic Canada$36,850
Difference-$6,750

Employment Rate 3.1% Below National Average

P.E.I.’s employment rate of 59.3% also trails the 62.4% national employment rate for those aged 25-54.

The employment rate refers to the share of the employed adult population. The 3.1% gap indicates weaker job prospects and opportunities in P.E.I. Boosting the employment rate will require matching skills with industry demand.

Employment Rate Comparison

RegionEmployment Rate
Prince Edward Island59.3%
Non-Atlantic Canada62.4%
Difference-3.1%

Higher Unemployment Than Most Provinces

Finally, according to the Fraser Institute report, P.E.I.’s unemployment rate of 8.8% was much higher than the 5.5% rate in non-Atlantic Canada in 2019.

The unemployment rate represents the share of the labour force that does not have a job but is actively looking for work. The significantly higher unemployment rate in P.E.I. means many Islanders cannot find suitable work.

Unemployment Rate Comparison

RegionUnemployment Rate
Prince Edward Island8.8%
Non-Atlantic Canada5.5%
Difference+3.3%

Source: https://www.fraserinstitute.org/blogs/pei-lags-behind-most-other-provinces-on-employment-income-and-other-key-metrics

Average Salaries in Prince Edward Island By Occupation

Now, let’s analyze how salaries in Prince Edward Island translate across different occupations.

Overall Average Salary in Prince Edward Island

Across all occupations, the average salary is $43,220 annually, equal to approximately $20.78 per hour.

This places P.E.I. 62nd for average salaries compared to other provinces and territories.

Average Salary in P.E.I.

CategoryAverage Salary
Annual$43,220
Hourly$20.78
Monthly$3,601

Top-Paying Jobs: Medical Specialists Earn Over $300,000

The highest paying occupations in P.E.I. are specialized medical professions earning well over $300,000, including:

  • Orthopedic Surgeon – $397,160
  • Oral and Maxillofacial Surgeon – $362,746
  • Diagnostic Radiologist – $344,562

Other high-earning medical specialties, such as cardiologists, anesthesiologists, and general surgeons, also rank among the top salaries in the province.

These salaries demonstrate the substantial compensation for doctors with advanced specializations.

Top 10 Highest Paying Jobs in P.E.I.

OccupationAverage Salary
Orthopedic Surgeon$397,160
Oral and Maxillofacial Surgeon$362,746
Diagnostic Radiologist$344,562
Urologist$340,240
Cardiologist $337,780
Anesthesiologist$334,991
General Surgeon$332,590
Otolaryngologist$321,177
Cardiac Anesthesiologist$315,973
Orthodontist$314,018

Salaries for Popular Jobs

Some of P.E.I.’s most in-demand jobs also pay decently above the $43,220 provincial average.

  • Mayor – $87,393 annually
  • Paramedic – $48,357
  • Real Estate Agent – $94,568 for first-year agents

This indicates relatively strong earnings potential in local government, healthcare, and sales roles that are popular on the Island.

Hourly Wage for Entry-Level Roles

According to recent job postings on ZipRecruiter, typical wages for more entry-level or lower-skilled occupations like “Employee” dip to around $11.12 per hour on average.

This broad category includes retail salespersons, food service workers, cashiers, general labourers, and other similar roles. It represents the lower end of P.E.I.’s pay scale.

$52,000 Considered Above Average in Charlottetown

In the provincial capital of Charlottetown, an annual salary of $52,000 is considered 12.7% above the city’s average income of $46,160.

This suggests an income near the overall P.E.I. average provides a relatively decent standard of living in Charlottetown specifically.

$52,000 Salary in Charlottetown

CategoryAmount
$52,000 Annual Salary12.7% above average
Average Annual Salary$46,160

Source:

Average Salaries in Prince Edward Island By Location

Location within the province also has a significant impact on earning potential.

Highest Salaries Concentrated in Cities

This data shows proximity to larger urban centers corresponds with higher pay.

Cities with the Highest Average Salaries

CityAverage Annual Salary
Cornwall$49,370
Charlottetown$45,220
Belfast$44,291
Summerside$40,220
Kensington $40,043

Lower Salaries in Rural Communities

On the other hand, smaller rural communities in P.E.I. offer lower average salaries:

  • Montague – $37,454 annually
  • Alberton – $36,171
  • Souris – $39,444

This creates an urban-rural wage gap exceeding $10,000 annually. Job seekers should carefully weigh earning potential and the cost of living.

Source: https://www.ziprecruiter.com/Salaries/–in-Prince-Edward-Island

Industries With High Salaries in Prince Edward Island

Beyond occupation and location, the industry itself also impacts pay in P.E.I.

Healthcare and Social Assistance

The healthcare and social assistance sector offers substantial salaries given P.E.I.’s aging population. According to tax data, registered nurses earn a median income of $80,069 provincially. Job postings suggest registered nurses earn $33-$48 per hour.

Professional, Scientific and Technical Services

This industry includes high-paying fields like accounting, architecture, engineering, computer systems design, and scientific research. According to tax data, the median income is $80,069. Jobs are concentrated in urban areas.

Public Administration

Government is another relatively well-compensated sector in P.E.I. According to tax data, public administrators earn a strong median income of $70,690. Jobs range from municipal clerks to provincial policy analysts.

Factors Affecting Average Salaries in Prince Edward Island

Factors Affecting Average Salaries in Prince Edward Island
Factors Affecting Average Salaries in Prince Edward Island

What other factors shape the earning potential of P.E.I. residents?

Experience and Education

More work experience and higher education increase salaries as workers gain more excellent expertise. For example, registered nurses can earn 20% above licensed practical nurses in Canada.

Industry and Occupation

As discussed, compensation varies enormously by industry and occupation. Nurses, engineers, developers, and government workers earn far more than retail or food service roles.

Location Within Province

Based on labour supply and demand, salaries swing by over $10,000 between high-paying cities like Cornwall and rural areas like Montague.

Organization Size

Bigger companies and organizations generally offer higher pay than small businesses. For instance, small firms pay 34% less for administrative roles.

Cost of Living and Purchasing Power

While nominal wages appear lower in P.E.I., costs like housing are far more affordable. Charlottetown rents are nearly 50% below Toronto, improving real purchasing power.

Compensation Beyond Salary

Benefits like health/dental insurance, retirement contributions, paid time off, tuition assistance, and flexible work arrangements also enhance total compensation beyond base salary.

Average Salaries in Prince Edward Island: Conclusion

While Prince Edward Island offers an enviable quality of life, the data definitively shows salaries lag national averages across metrics like GDP per capita, median income, employment rate, and unemployment rate.

The highest-paying roles are specialized medical occupations, but many in-demand jobs, such as nurses, engineers, developers, real estate agents, and government workers, also out-earn the $43,220 P.E.I. average.

Salaries tend to be higher in urban centers, while rural areas pay less but have lower living costs. Islanders can maximize income by targeting high-paying industries and locations.

At the end of the day, acceptable pay combined with P.E.I.’s friendly communities, slower pace of life, and natural beauty make it an attractive place to live for many Canadians.

Average Salaries in Canada vary widely between provinces and territories due to factors like cost of living, labor supply, and economic strength. To help you understand pay scales across Canada, we’ve compiled this series on average salaries by region:

FAQs related to average salaries in Prince Edward Island

What is the average monthly salary in P.E.I.?

The average monthly salary in Prince Edward Island is $3,601, based on the overall average annual salary of $43,220

Where are the highest paying jobs in Prince Edward Island located?

The cities and towns with the highest average salaries are concentrated in urban areas like Cornwall, Charlottetown, Belfast and Summerside.

Why is Prince Edward Island's average salary lower than other provinces?

Factors like lower GDP per capita, low median employment income, lower employment rates and higher unemployment contribute to lower average salaries in P.E.I.

When do salaries in P.E.I. tend to be higher?

Salaries tend to be higher for jobs requiring more education, in urban areas, in certain industries like healthcare, and later in one's career with more experience.

Do medical specialists earn high salaries in P.E.I.?

Yes, medical specialists like orthopedic surgeons, oral surgeons and radiologists earn very high average salaries over $300,000 in P.E.I.

Can you earn a good salary as a paramedic in Prince Edward Island?

Yes, paramedics earn above the P.E.I. average salary at $48,357 annually

What is the average salary for an entry-level employee in P.E.I.?

The average hourly wage for entry-level employees is around $11.12 per hour

Which sector pays the highest salary in P.E.I.?

The healthcare and social assistance sector pays the highest salaries in P.E.I. given the aging population, with registered nurses earning a median income of $80,069

How much does experience impact salary in P.E.I.?

More years of experience can increase salaries by up to 20% in fields like nursing as workers gain expertise.

What benefits besides salary do P.E.I. jobs offer?

Common benefits include health insurance, retirement plans, vacation time, tuition assistance, and remote work options

Article Sources

Average Salaries in Prince Edward Island
Ben Nguyen


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