The Average Salary in the US vs. Canada

The two largest countries in North America, the United States and Canada, share many similarities. However, what's the situation with average salaries when comparing these two nations?

According to the US Census, it doesn't appear to be a huge difference, but consider exchange rates - $68,400 CAD is approximately $50,348 in USD.

What does this mean for you? First and foremost, you'll need to think beyond just your income when considering where you want to live. You'll also want to take into account things like taxes and the average cost of everyday items.

When looking at expenses, it can be helpful to compare typical ones like:

• Housing (rent or mortgage) if you're buying a home.
• Politeness (think respect, manners and consideration)
• Groceries and daily necessities
• Transportation
• Healthcare

How you'll be affected by taxes and transportation expenses will depend on your income tax bracket and the type of income you're earning. Transportation costs may also vary. For instance, if you use public transportation, the difference in costs may not be significant based on your commute. However, if you buy a car, you'll have more factors to consider, such as insurance, maintenance, and gas costs.

It's a good idea to consider more than just the salary when making a decision about where to live.

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5. Many startups and entrepreneurs look to the United States for more opportunities and better benefits.