T.O. software engineering salaries grew faster than those in many U.S. areas: report

TORONTO – A new report shows software engineering salaries in Toronto grew faster than most U.S. markets last year.

The report from job search company Hired says Toronto software engineer salaries averaged $136,000 and those working remotely picked up $140,000.

Those figures amount to 10 per cent growth in overall average salaries and five per cent for remote positions.

Top tech markets like the San Francisco Bay Area, New York, Atlanta, Seattle and Chicago saw their average salaries grow by four or five per cent, while remote salaries ticked up by three to six per cent. Philadelphia was an outlier with 12 per cent growth in average salaries.

The report says big hubs, including Toronto, have the strongest demand for local software engineering talent, but continue to trail behind the U.S. in remote work adoption.

Hired’s report is based on software 494,000 engineering candidate interview requests and salary data linked to 68,500 people between January 2021 and December 2022 inclusive. It also collected survey responses from more than 1,300 software engineers and 120 talent professionals and hiring managers.

This report by The Canadian Press was first published March 6, 2023.