Ben Nguyen 
Nestled off Canada’s east coast, Prince Edward Island (PEI) captivates with rolling green hills, cozy fishing towns, and family-owned farms. But does the idyllic charm come with a tradeoff in wages?
While the average salary in Canada provides a helpful national benchmark, this comprehensive guide will focus on the average wage in Prince Edward Island. Discover how salaries in PEI compare nationally, which jobs offer the hottest prospects, how pay changes, and what contributes to earnings.
Whether you’re contemplating a move to Anne of Green Gables home or just curious about Canada’s smallest province, read on for an in-depth look at the PEI job market.
What is The Average Salary In Prince Edward Island?
Prince Edward Island ranks among Canada’s most affordable provinces thanks to lower average wages. But how do salaries specifically compare?
Average Weekly Wage In Prince Edward Island
According to the latest Statistics Canada data, the average weekly wage for all occupations in PEI was $1,110.08 CAD (as of 2024), or approximately $54,328 per year. This places PEI at the lowest out of the 10 provinces.
The national average Canadian weekly wage across all occupations is $1,290.30 CAD. So PEI trails the national benchmark by $180.22 CAD weekly or 15% lower. However, the cost of living is also lower in PEI. We’ll analyze affordability later in this guide.
Median Weekly Wage In Prince Edward Island
Beyond just averages, the median salary provides a perspective on standard middle-class earnings.
In PEI, the median weekly wage is $1,000.00 for all occupations (2024). Comparatively, the average weekly wage is $1,110.08. This indicates half of PEI workers earn less than $1,000 per week. The lower median shows the distribution is skewed downward by low-earners rather than high salaries, lifting the average upwards.
Source: Statistics Canada. Table 14-10-0063-01 Employee wages by industry, monthly, unadjusted for seasonality
Unemployment Rate In Prince Edward Island
PEI’s unemployment rate measures job availability, which influences individual bargaining power.
In 2023, PEI’s unemployment rate averaged 7.3%, higher than the national rate of 5.4%. The upside is that employers may face talent shortages in tight job markets. The downside is reduced applicant leverage to negotiate higher salaries.
PEI statistics reveal lower average and median wages compared to larger provinces. But the job market still holds bright spots we’ll uncover.
What Factors Influencing Salaries in PEI?
Like all jurisdictions, a mix of economic and social factors influence PEI wage levels across sectors.
Education and Experience
Higher education and extensive experience enable workers to command more significant compensation. Fields like healthcare and technology favour advanced credentials.
Labor Market Conditions
Tight job markets with talent scarcity push wages upward as employers compete. High unemployment reduces applicant bargaining power. PEI’s job market has strengthened but lags in busier provinces.
Industry and Occupation
Booming sectors like tech and healthcare enable higher salaries, while public sector and seasonal jobs limit wage growth.
Cost of Living
Regions with lower housing, food, and service costs can suppress salaries, while expensive cities drive up pay. This is a significant factor favouring affordable PEI.
Interprovincial Competition
Provinces must offer wages comparable to peer regions to attract and retain workers. PEI’s small scale limits wage growth relative to powerhouses like Alberta and Ontario.
In summary, PEI’s economic structure skews towards lower-paying goods production and seasonal industries. Small scale also hinders wage competition. But the big advantage is the markedly lower cost of living compared to crowded, expensive metropolises.
What are Average Salaries by Occupational Category in Prince Edward Island?
Prince Edward Island’s average weekly wage masks significant differences across occupational categories. Analyzing the latest 2024 average salaries by type of work provides insight into PEI’s diverse labour market.
Management Occupations
Workers in management earn the highest average wage in PEI at $1,935.18 per week. These leadership positions span industries from corporate executives to public administrators. The prestige and responsibilities of management justify the above-average pay.
Business, Finance and Administration
PEI professionals in business, finance, and administration earn an average of $1,133.98 weekly. This category encompasses accountants, analysts, sales professionals, and administrative support staff. Finance and professional services offer wages well above PEI’s overall average.
Natural and Applied Sciences
Careers in natural and applied sciences pay an average of $1,429.94 per week. This field includes biologists, engineers, and technical specialists who leverage science expertise. The robust knowledge economy boosts salaries.
Health Occupations
Healthcare practitioners in PEI earn $1,136.39 weekly, demonstrating strong demand. Nurses, technologists, therapists, and support workers all provide essential services benefitting from consistent salaries.
Education, Law and Social Services
Individuals working in teaching, law, social work, and community services make an average of $1,334.01. Publicly funded jobs lead this stable sector with competitive incomes.
Trades and Transportation
Skilled tradespeople earn an above-average weekly pay of $1,058.49 in PEI. The construction boom and transit services that require manual skills underpin these incomes. Experience and credentials drive high trade wages.
Art, Culture and Recreation
Despite lower wages on average, arts, culture and recreation workers earn $804.13. This niche sector attracts passionate individuals despite below-average pay.
Sales and Service
PEI’s sizable tourism industry employs sales and service workers earning $639.52 weekly. Retail and hospitality salaries are constrained by high competition and seasonality.
Natural Resources, Agriculture
Agriculture, fishing, and related natural resource harvesting workers earn $1,105.38 weekly. Food production and fishing reward practical expertise despite volatility.
Manufacturing and Utilities
Manufacturing workers earn $996.14 weekly, while utilities pay less at $667.73. Though manufacturing salaries lag national levels, processing and energy jobs provide stable incomes.
In summary, PEI provides strong pay for management, professional services, education, trades, and technical roles. However, tourism, retail, and manufacturing incomes trail those of other sectors.
Source: Statistics Canada. Table 14-10-0417-01 Employee wages by occupation, annual
What are the Top In-Demand Occupations and Salaries In Prince Edward Island?
Although overall PEI earnings trail national levels, certain sectors face talent shortages. For job seekers targeting the right skills, ample opportunities await.
Let’s profile the thirteen most in-demand occupations in PEI by projected job openings, average salary, and education requirements:
Registered Nurse
- Job Outlook: 50+ Current Vacancies (PEI Job Bank)
- Average Salary: $84,743 CAD per year
- Education: Bachelor’s degree in Nursing
Nursing salaries in PEI slightly trail national levels, averaging $92,120. However, ample openings exist, and an aging population demands care. Nurses earn a comfortable living and benefit from a recession-proof essential career.
Software Developer
- Job Outlook: 30+ Current Openings (PEI Indeed)
- Average Salary: $57,247 CAD per year
- Education: Bachelor’s degree in Computer Science
As one of Canada’s tech hubs, PEI employers compete for software developers. Salaries align with median national levels while leveraging PEI’s lower cost of living.
Construction Manager
- Job Outlook: 20+ Current Vacancies (WorkPEI)
- Average Salary: $65,787 CAD per year
- Education: Bachelor’s degree or college diploma in Construction Management
Managers oversee building projects and associated tradespeople. With PEI’s population expanding yet limited housing stock, demand for skilled construction management persists.
Early Childhood Educator
- Job Outlook: 40+ Current Vacancies (Canada Job Bank)
- Average Salary: $59,126 CAD per year
- Education: Early Childhood Education diploma
Educators nurture and care for infants, toddlers, and preschoolers while preparing them for further education. Thanks to strong policy support for accessible childcare programs, shortages exist nationwide.
Farm Worker
- Job Outlook: 60+ Current Vacancies (PEI Agricultural Job Listings)
- Average Salary: $41,582 CAD per year
- Education: Agriculture training programs
Prince Edward Island’s thriving farmlands drive demand, albeit with lower wages than urban-based roles. However, the low cost of rural living balances modest farm incomes.
Truck Driver
- Job Outlook: 25+ Current Vacancies (Indeed PEI)
- Average Salary: $65,550 CAD per year
- Education: Professional truck driver diploma
With PEI’s high reliance on imported goods, trucking is essential for transport and logistics. Commercial driver demand persists both for cross-country hauling and local delivery services.
Retail Sales Associate
- Job Outlook: 35+ Current Vacancies (Canada Job Bank)
- Average Salary: $52,021 CAD per year
- Education: High school diploma
Tourism and services fuel retail sector jobs from bustling shops to local boutiques. Strong social skills and customer service aptitude are required.
Chef
- Job Outlook: 15+ Current Vacancies (WorkPEI)
- Average Salary: $51,895 CAD per year
- Education: Culinary training certificate or diploma
Creative chefs are sought after to delight sophisticated foodie travellers and locals craving fresh seafood. Kitchen skills must adapt to seasonal ingredients.
Accountant
- Job Outlook: 20+ Current Vacancies (Indeed PEI)
- Average Salary: $53,665 CAD per year
- Education: Bachelor’s degree in Accounting
Every industry and government needs number crunchers. Detail-oriented analysts thrive in accounting roles that provide career stability.
Marketing Specialist
- Job Outlook: 18+ Current Vacancies (Canada Job Bank)
- Average Salary: $77,645 CAD per year
- Education: Bachelor’s degree in Marketing
PEI employers seek digital marketing expertise to promote their products and services domestically and export globally. Analytics and creative skills drive success.
Electrician
- Job Outlook: 22+ Current Vacancies (WorkPEI)
- Average Salary: $66,624 CAD per year
- Education: Electrician trade certification
Construction growth means high demand for electricians who install wiring and fixtures in homes, shops, and offices across PEI.
Welder
- Job Outlook: 18+ Current Vacancies (Canada Job Bank)
- Average Salary: $48,222 CAD per year
- Education: Welding trade certification
Welders find stable work in shipyards, manufacturing, construction, and heavy industry. Meticulous attention to detail is vital.
Home Support Worker
- Job Outlook: 40+ Current Vacancies (PEI Government Job Bank)
- Average Salary: $61,224 CAD per year
- Education: Home support worker certificate
Canada’s aging population requires caring professionals to assist seniors with daily living activities and companionship. Patience and empathy are essential.
This snapshot reveals that despite lagging overall salaries, strategically targeting sought-after professions promises bright prospects in PEI’s job market.
Source: Wages in Prince Edward Island, Government of Canada
What are the Salary Growth Trends in Prince Edward Island?
While PEI salaries lag overall, the growth trajectory shows steady albeit slow gains. Let’s analyze how salaries have progressed over the past decade using Statistics Canada, Table 14-10-0417-01 data:
- 2024: $1,110.08 average weekly wage
- 2023: $1,044.18 average weekly wage
- 2022: $1,004.73 average weekly wage
- 2012: $755.01 average weekly wage
- 2002: $508.62 average weekly wage
As we can observe, the average weekly wage for all PEI occupations increased from $508.62 in 2002 to $1,004.73 in 2022, representing a 98% total growth over the 20 years. The most significant increase was seen in 2008 (at 7.09%) and recently in 2022 at 6.51%.
With labour shortages projected in sectors like healthcare, agriculture, and hospitality, future PEI salary growth is forecast to continue at a similar or slightly improved 2-3% annual pace over the next 5 years. PEI’s maturing economy continues gradual if unspectacular, salary progression. However, it will continually trail national levels without significant industry disruption.
To expand your knowledge of income potential across Canada, explore LifeBuzz’s comprehensive salary guides covering the average salary in each province:
- Average Salary in British Columbia
- Average Salary in Alberta
- Average Salary in Newfoundland and Labrador
- Average Salary in Saskatchewan
- Average Salary in Quebec
- Average Salary in Manitoba
- Average Salary in Nova Scotia
- Average Salary in New Brunswick
- Average Salary in Ontario
Discover how pay varies greatly depending on your province, city, industry and occupation. Learn which careers and locations offer the highest earning power.
Summary
Although Prince Edward Island salaries lag national wage levels across most occupations, the trajectory remains toward steady growth.
PEI’s economic diversity holds promise in emerging sectors like clean energy and advanced manufacturing. Continued healthcare, technology, tourism, and entrepreneurship expansion will counterbalance declines in traditional resource industries.
For those seeking an affordable, balanced lifestyle without big-city headaches, the cozy communities of Canada’s green island offer rewards beyond dollars and cents. The island way of life is ideally suited to leveraging natural beauty while working remotely or starting businesses. The tight-knit population creates opportunities to make an impact.
While statistics alone conceal nuances, PEI’s quaint countryside and villages enable enjoying life’s simple pleasures; for newcomers and young Islanders alike, careers that embrace tradition and innovation promise prosperous pathways aligned with personal values. So, while Prince Edward Island salaries may not lead the nation, fulfillment factors make up the difference.
Frequently Asked Questions
What is the median wage compared to average wage in PEI?
The median weekly wage in PEI is $1000 lower than the average of $1100.08. This indicates half of the workforce earns below the median.
Where are the highest paying jobs in Prince Edward Island located?
The highest salaries are concentrated in urban regions like Charlottetown, which offers more diverse industries and careers in professional services. Rural PEI wages trail urban incomes.
Why are wages lower in Prince Edward Island than the national level?
Factors like a lower minimum wage, seasonal tourism employment, fewer large corporations, and lack of major urban centers contribute to lagging PEI wage growth.
When did PEI see the most wage growth in recent years?
PEI average weekly wages grew most significantly between 2010-2014 when a surge in construction and resource development temporarily lifted incomes. Growth has since stabilized at 2-3% annually.
Can wages in rural PEI compete with urban incomes?
Urban wages are generally 15-20% higher than rural PEI earnings across most occupations. But, the rural cost of living helps compensate for lower incomes.
Is wage growth faster in goods-producing or service industries in PEI?
Service sector wage growth is outpacing goods-producing industries in PEI, with professional services, healthcare and technology seeing the fastest salary increases in recent years.
How does PEI wage growth compare to inflation rate?
PEI's wage growth of 2-3% annually has roughly kept pace with inflation of 2% in recent years, resulting in minimal real income gains for many residents.
What sectors are driving job growth in PEI?
Healthcare, retail, construction, professional services, and hospitality are forecast to generate the most new jobs over the next decade based on PEI's aging demographics.
What impacts the gender wage gap in PEI?
Occupational segregation, lack of female representation in leadership roles, gender discrimination, and disproportionate domestic/childcare duties for women all perpetuate the wage gap in PEI and nationally.
How can new immigrants maximize their income potential in PEI?
Leveraging foreign credentials, pursuing in-demand occupations like healthcare, focusing on urban job markets, and obtaining Canadian work experience help immigrants overcome initial wage gaps.
What resources help job seekers determine competitive PEI salaries?
Government wage data, recruiter salary guides, crowdsourced tools like Glassdoor, and speaking with professionals in your occupation all provide objective PEI salary benchmarks before negotiating offers.
Which medical professions earn the highest salaries in PEI?
Specialists like cardiologists, neurologists, emergency physicians, and surgery earn the top incomes given their advanced expertise and long training requirements. Primary care physicians also earn very competitive wages due to high demand.
What resources help job seekers determine competitive PEI salaries?
Government wage data, recruiter salary guides, crowdsourced tools like Glassdoor, and speaking with professionals in your occupation all provide objective PEI salary benchmarks before negotiating offers.
