Top Ten Most Valuable Degrees in Canada

Choosing, or switching your university degree is a big (but exciting!) decision

Unlocking Your Future: The Exciting Journey of Choosing the Right Degree

Every September, over 1.44 million University students across Canada embark on a new academic adventure. In today’s rapidly changing economy and technologically advanced world, gaining the right skills is essential to meet employer demands and excel in your chosen field. A university education is a powerful tool for navigating the dynamic global job market and achieving long-term career success.

Canadian universities are renowned globally for their quality and employability. In fact, eleven Canadian institutions were highlighted in the Global University Employability Ranking 2023, with the University of Toronto securing the 12th spot worldwide.

When selecting a degree in Canada, it is crucial to find a balance between your passion and practical career prospects. Fields like engineering, computer science, healthcare, and business administration are particularly valuable, offering excellent job opportunities and competitive salaries that ensure financial stability.

Below is a list of the top 10 bachelor’s degrees, ranked by the highest average salaries according to a Statistics Canada study, along with the 2024-2025 tuition costs from three leading Canadian universities.*

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10. Nursing

• Median wage in 2023: $40.39 per hour

• First-year tuition (2024-25 University of Toronto): $8,190

• First-year tuition (2024-25 University of British Columbia): $5,960.10

• First-year tuition (2024-25 McGill University): $12,360

Job markets in healthcare are predicted to remain stable, especially given Canada’s aging population. Nurse practitioners typically have more responsibility than registered nurses, but less than doctors. To become a nurse practitioner you will need a bachelor’s degree in nursing followed by additional training. Alternatively, you could obtain a master’s in nursing, but either way you will need several years’ experience as a registered nurse.

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9. Mechanical Engineering

• Median wage in 2023: $43.27 per hour

• First-year tuition (2024-25 University of Toronto): $14,180

• First-year tuition (2024-25 University of British Columbia): $7,350.79

• First-year tuition (2024-25 McGill University): $12,360

Mechanical engineering is a versatile and dynamic field that focuses on designing, analyzing, manufacturing, and maintaining mechanical systems. From automotive and aerospace innovations to energy solutions and robotics, mechanical engineers harness physics and materials science principles to create technologies that enhance efficiency and improve lives.

Pursuing a career in mechanical engineering in Canada provides the opportunity to engage with cutting-edge projects in a country renowned for its technological advancements and commitment to sustainable practices. With a strong emphasis on research and development and a diverse array of industries ranging from manufacturing to renewable energy, Canada offers mechanical engineers a stimulating environment to innovate, grow, and significantly impact the world.

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8. Civil Engineering

• Median wage in 2023: $45 per hour

• First-year tuition (2024-25, University of Toronto): $14,180

• First-year tuition (2024-25, University of British Columbia): $7,350.79

• First-year tuition (2024-25, McGill University): $12,360

Civil engineering is a cornerstone of modern society, playing a crucial role in designing, constructing, and maintaining the infrastructure that supports our daily lives. From bridges and roads to water treatment systems and skyscrapers, civil engineers blend creativity with technical expertise to solve complex challenges and improve the quality of life.

Choosing a career in civil engineering in Canada offers a unique opportunity to contribute to a nation known for its vast and varied landscapes, robust urban centers, and commitment to sustainable development. With a strong emphasis on innovation and environmental stewardship, Canadian civil engineers are at the forefront of developing resilient and efficient infrastructure that meets the needs of diverse communities nationwide.

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7. Management Sciences and Quantitative Methods

• Median wage in 2023: $45.96 per hour for quantitative analysts

• First-year tuition (2024-25 University of Toronto): $15,900

• First-year tuition (2024-25 University of British Columbia): $5,960.10

• First-year tuition (2024-25 McGill University):  $12,360

The discipline is more tied to math than commerce and will teach students about theories and models in statistics and programming and how to apply them to a variety of business problems. Potential jobs include administrative services, budget and management analysts and marketing managers.

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6. Mathematician

• Median wage in 2023: $46.47 per hour

• First-year tuition (2024-25 University of Toronto): $6,100

• First-year tuition (2024-25 University of British Columbia): $5,960.10

• First-year tuition (2024-25 McGill University): $12,360

Mathematics is the foundational language of science and technology, encompassing the study of numbers, quantities, structures, and space. Mathematicians are critical thinkers who develop theories, solve complex problems, and apply mathematical principles to various fields, from cryptography and data analysis to finance and engineering. Choosing a career as a mathematician in Canada provides an opportunity to be part of a vibrant and intellectually stimulating community.

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5. Electrical Engineering

• Median wage in 2023: $46.63 per hour

• First-year tuition (2024-25 University of Toronto): $8,190

• First-year tuition (2024-25 University of British Columbia): $5,960.10

• First-year tuition (2024-25 McGill University): $12,360

Electrical engineering is a dynamic and essential field that focuses on studying, designing, and applying electrical systems and technologies. From power generation and distribution to telecommunications and electronic devices, electrical engineers drive innovation that powers modern society. With a strong emphasis on renewable energy, smart grid technologies, and the burgeoning tech industry, Canada offers electrical engineers a stimulating environment to develop their skills, engage in meaningful research, and contribute to creating a more connected and efficient world.

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4. Geosciences

• Median wage in 2023: $48.08 per hour

• First-year tuition (2024-25 University of Toronto): $8,393.96

• First-year tuition (2024-25 University of British Columbia): $5,960.10

• First-year tuition (2024-25 McGill University): $12,360

A bachelor’s degree in geosciences can lead to work in mineral and petroleum exploration, environmental consulting, and urban projects, among other fields. These skills are highly valued in Canada’s mining industry.

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3. Software Engineering

• Median wage in 2023: $51.64 per hour

• First-year tuition (2024-25 University of Toronto): $14,180 (CE)

• First-year tuition (2024-25 University of British Columbia): $5,960.10 (CS)

• First-year tuition (2024-25 McGill University): $12,360 (SE)

Due to high business investment in the technology sector, the number of computer engineers needed is expected to grow in the next few years.

There are a few differences between a software engineering (SE) degree, a computer science (CS) degree, and a computer engineering (CE) degree. Software engineers build and maintain software systems. Computer scientists focus on data, data transformation, and algorithms. Computer engineers design, build, and operate computer systems.

Over the last few years, employment in this occupational group has increased at a solid pace. Yet, the unemployment rate has remained at a low historical point. The future also looks bright for software engineers, as the number of job openings and job seekers are projected to be relatively similar by the Canadian Occupational Projection System (COPS).

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2. Finance

• Median wage in 2023: $55.29 per hour for finance directors

• First-year tuition (2024-25 University of Toronto): $12,720

• First-year tuition (2024-25 University of British Columbia): $5,960.10

• First-year tuition (2024-25 McGill University): $12,360

After two years of foundational business courses, students specializing in finance will learn how to plan, manage and analyze the financial aspects of businesses, banks and other organizations. Upon graduation, they will be eligible to work in various financial roles, such as financial director, security analyst, market research analyst, bank manager, mortgage broker or portfolio manager, for which they may have to pass supplementary exams.

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1. Petroleum or Chemical Engineering

• Median wage in 2023: $57.69 per hour for petroleum engineers

• First-year tuition (2024-25 University of Toronto): $14,180

• First-year tuition (2024-25 University of British Columbia): $7,350.79

• First-year tuition (2024-25 McGill University): $12,360

Petroleum and chemical engineers can expect employment from energy companies, research institutes, and the government.

Chemical engineering students will take the same foundational courses in math and science as students in other engineering disciplines in their first and second years. Afterwards, they will learn about subjects such as fluid mechanics, heat and mass transfer, and process modelling to design operations that will transform raw material into specified products for the various industries they may be employed in, such as oil and gas, pharmaceuticals or energy.

Need help with budgeting for school? Use the Student Budget Calculator to help figure out how much money you’ll need to get through the school year.

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* Undergraduate average first-year tuition costs, each respective university

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