Median salaries for Canadian accountants outpace inflation

Launching a career as a Canadian chartered professional accountant can be a lucrative endeavour as a new study found licensed professionals with three or more years of experience reported a national median salary of $154,000.

Compensation growth for accountants rose 7.7 per cent outpacing inflation over the past two years at 6.4 per cent, according to a report from Leger, a market research company, for CPA Canada.

“CPAs are valued in the workforce. We have skills that organizations and businesses are looking for now and into the future,” Andy Thomas, CPA Canada’s vice-president of education told BNNBloomberg.ca in a Wednesday interview.

CPA Canada represents more than 220,000 chartered professional accountants at home and abroad. The company conducted a previous report where they found compensation for accountants was $143,000.

Compensations vary by location, industry and experience

Salaries for licensed professional accountants differ throughout the country. Compensation was highest in Alberta at $169,000 followed by Ontario at $163,000 and Saskatchewan at $147,000. Eastern provinces reported the lowest median compensation, ranging from $124,000 to $131,000.

Professionals in Calgary posted the highest median salary nationally at $186,000 while in Toronto compensation was reported at $177,000 and Montreal at $155,000, respectively.

Accountants in the oil and gas sector remained in the top-paying industry at $200,000, followed by real estate and building management at $180,000, software at $178,000, and financial services at $178,000.

“In terms of Canada, it’s always been the big cities that drive the salary growth and high salaries in Toronto and Calgary because of what’s going on in the oil patch, etcetera,” said Thomas. “That was nice to see.”

Professional accountants based outside Canada continued to earn considerably more than their peers based within the country, reporting a median of $264,000. U.S.-based CPAs earned even more, with a median of $306,000.

“Internationally, my personal take would be that first of all, they’re very experienced people,” said Thomas. “Generally, they go to other international destinations, and so that helps with the salaries as well. They are drawn to international destinations because of the salaries they’re offered, because of the skill sets they have.”

The study notes compensation for accountants with years of experience grows over time. Accountants with 25 years of experience earned a median salary of $194,000. Accountants early in their career with less than three years of experience start off on average with $92,000. By comparison, Statistics Canada shows the average median earnings for full-time Canadian workers reached $70,000 in 2024.

“CPAs early in their careers like most young professionals, are still learning,” said Thomas. “They’re gaining the skills and the capabilities, particularly in the critical thinking and the analytical space, to make sure that they can add value for businesses over the long term.”

Demand for accountants increased

Researchers say salaries have increased 47 per cent over 12 years sparking demand for CPA designation across a changing economic landscape. They say CPAs assist clients with expertise in independent assurance, navigating complex regulatory frameworks and supporting long-term decision-making.

As organizations spend on artificial intelligence adoption, researchers say CPAs are assuming key roles in AI governance and assurance to continue relevance. Notably, one in three survey respondents in the software and technology sector reported an increase of 10 per cent in salaries, highlighting a growing momentum in the emerging field.

“There’s never been more opportunities for young CPAs to thrive in this business, and particularly in a couple spaces which are expanding, sustainability being one,” said Thomas. “Even more exciting is what I would call the AI space, or the technology space. I just think CPAs are set up in both of those areas in terms of the skills that they possess to be leaders in those fields. I don’t think there’s been a better time to get into the CPA profession, if you if you have what it takes.”

Methodology

Leger conducted the 2025 CPA Compensation Study on behalf of CPA Canada, from May 12 to 30, 2025. The report includes responses from more than 7,500 Canadian CPAs, sourced from CPA Canada’s distribution list. Key median benchmarks, such as national and post-designation figures, are based on respondents with at least three years of experience to reflect more established earning levels.