Canada’s tech compensation market is cooling, according to the 2024 Tech Sector Salary report by TAP Network and Mercer. The report found a median salary increase of less than 4%, down from last year’s 8%. Voluntary turnover also dropped, averaging below 10%, compared to 17% in 2023.
The survey includes salaries and compensation data across Canadian tech subsectors like AI, clean-tech, and gaming. TAP Network CEO Stephanie Hollingshead noted that salary increases have stabilized, reflecting cautious spending in the industry. Mechanical engineering and marketing roles saw the highest increases, driven by clean-tech growth, but may cool in 2025.
Want to know more? Check out the source code on Techtalent.ca.