What does it take to “make it” in your city? Well, this new report will tell you how much money you need to be considered rich in Canada by province, so you can find out how close you are to the 1%.
The report was conducted by OnlineGambling.ca using the most recent dataset by Statistics Canada.
It examines how much the wealthiest people earn per year in each province.
And for a clearer picture of what it really looks like to be rich in Canada, the team at OnlineGambling.ca compared the earnings of the top 1% to the top 10% in each province.
The lowest 1% income is in Prince Edward Island, and the highest is in Ontario.
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Here are the top 1% and top 10% earnings for each Canadian province:
Top 1%: $482,500
Top 10%: $177,500
Top 1%: $512,900
Top 10%: $176,600
Top 1%: $472,900
Top 10%: $167,100
Top 1%: $473,400
Top 10%: $160,200
Newfoundland & Labrador
Top 1%: $416,300
Top 10%: $160,800
Top 1%: $453,400
Top 10%: $161,800
Top 1%: $542,100
Top 10%: $182,400
Prince Edward Island
Top 1%: $380,900
Top 10%: $159,000
Top 1%: $485,800
Top 10%: $171,600
Top 1%: $449,700
Top 10%: $158,500
Those living in the highest-earning cities will have to work even harder to make it to the top.
For example, Calgarians will need to earn $522,600 every year to be considered part of the 1%, compared to $482,500 for the rest of the province.
Vancouverites will need to earn $530,900 per year, and Torontonians must earn $574,400 per year to make it to the 1% bracket.
Canada itself is home to many wealthy people. It is one of the most popular cities in the world for centimillionaires and is home to some of the wealthiest people on Earth.
Now that you know just how much money you need to be considered rich in Canada, it’s time to get out there and hustle!
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