Are you considering a career in accounting and wondering how much money you can earn? Look no further than Ontario, where accountants are highly valued and in-demand professionals.
In this blog post, we’ll explore the accountant salary in Ontario and break down the factors that influence earning potential. From entry-level to senior roles, we’ll provide insights into what you can expect to make as an accountant in Ontario. So grab your calculator, and let’s dive into the numbers!
How Much Do Accountants Make in Ontario?
If you’re considering a career in accounting, you’re probably wondering how much money you can earn as an accountant in Ontario. The answer depends on a number of factors, including your experience, qualifications and the type of employer you work for.
In Ontario, the salary for accountants varies depending on experience and qualifications. Here are some average figures for 2025:
- The average annual salary for an accountant in Ontario is approximately $62,648 according to Indeeddoor estimates the total pay for an accountant is around $69,500 per year, with a base salary averaging about $65,000.
- For public accountants (CPAs), the average base salary is notably higher at about $76,638.
These figures at accountants in Ontario can expect to earn a solid income, with variations based on specific job roles and certifications.
Getting the right qualifications is important if you want to maximize your earnings potential as an accountant. A professional accounting designation (CPA) will help you command a higher salary. Employers also value experience, so consider working in a related field before making the transition into accounting.
With the right skills and experience, you can earn a great salary as an accountant in Ontario.
Average Accountant Salaries in Ontario
Here are the average annual salaries for accountants in Ontario as of 2025:
- General Accountant: The average salary is approximately $65,000.
- Entry-Level Accountant: The average annual pay is about $43,731.
- Senior Accountant: Typically earns an average of $74,329 per year.
These figures indicate a salary progression with experience in the accounting field.
The Highest Accountant Salaries in Ontario
In Ontario, accountants can achieve high salaries, particularly in specialized or senior positions. Here are some of the highest salaries reported for accountants in 2025:
- Senior Accountants: Typically earn around $74,329 annually.
- Certified Public Accountants (CPAs): The average salary for CPAs is about $76,638 per year.
- Financial Accountants: Have an average annual salary of approximately $69,952.
- Corporate Accountants: In Toronto, corporate accountants earn around $66,910 per year.
- High-end Salaries: For top positions, such as CPAs in senior roles, salaries can range up to $138,327 annually in the highest-paying cities.
These salaries reflect the potential for accountants to earn substantial incomes, particularly as they advance in their careers and gain specialization.
Factors that Affect Accountant Salaries in Ontario
There are a number of factors that affect how much accountants make in Ontario. The type of accounting you specialize in, your experience, and the size of the company you work for are just a few of the things that can impact your salary.
Here’s a more detailed look at some of the factors that can affect how much money you can make as an accountant in Ontario.
- Type of Accounting: The type of accounting you specialize in will greatly impact your salary. If you’re a certified public accountant (CPA), you can expect to make significantly more than someone who just has a bachelor’s degree in accounting. This is because CPAs have more responsibilities and are often in charge of more complex financial matters.
- Experience: Another factor that will affect your salary is your experience level. Generally, the longer you’ve been working as an accountant, the more money you’ll make. This is because experienced accountants are able to handle more complex financial tasks and are usually better at managing their time.
- Company Size: The size of the company you work for can also play a role in how much money you make. Large companies tend to pay their accountants more than small businesses do. This is because large companies usually have more complex financial needs and can afford to pay their accountants higher salaries.
Benefits of Becoming an Accountant
Becoming an accountant offers numerous professional and personal benefits. Here are five key advantages:
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Stable Career Path: Accounting is a fundamental component of virtually every business, providing job security and stability. As businesses and financial regulations continue to evolve, the demand for skilled accountants remains strong, ensuring long-term career opportunities.
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Lucrative Salary: Accountants benefit from competitive salaries that increase with experience and specialization. Advanced certifications like CPA can further enhance earning potential, making it financially rewarding.
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Diverse Opportunities: The field of accounting offers a wide range of specialties, including tax accounting, forensic accounting, corporate finance, and auditing. This diversity allows accountants to pursue careers in various industries and sectors, from private firms and corporations to government agencies and non-profits.
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Professional Development: The accounting profession encourages continuous learning and development. Accountants often have opportunities to attend workshops, obtain further certifications, and stay updated with the latest financial regulations and technologies, promoting career growth and expertise.
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Ability to Start Your Own Business: With experience and a solid client base, accountants have the potential to start their own practice. This entrepreneurial aspect can lead to greater autonomy, flexibility, and the potential for higher earnings, allowing professionals to tailor their careers to their personal goals and lifestyle.
These benefits highlight why accounting is considered a robust and appealing career choice for many.
Different Types of Accountants and Their Salaries
There are many different types of accountants, and their salaries can vary widely. Here are some of the most common types of accountants and their average salaries in Ontario:
- Certified Public Accountant (CPA): $75,000 – $85,000
- Chartered Professional Accountant (CGA): $70,000 – $80,000
- Certified Management Accountant (CMA): $65,000 – $75,000
- Registered Tax Agent: $60,000 – $70,000
- Bookkeeper: $40,000 – $50,000
Of course, many other types of accountants have different specializations and skill sets. Salaries will also vary depending on factors such as experience, education level, and geographic location.
How to Increase Your Salary as an Accountant?
You can do a few things to increase your salary as an accountant. First, consider pursuing a Certified Management Accountant (CMA) or Chartered Professional Accountant (CPA) designation.
These designations will give you a leg up when applying for jobs and can help you command a higher salary. Secondly, consider working in an industry that pays accountants well. Banking, finance, and insurance industries tend to pay higher salaries than other industries.
Try to negotiate a higher salary when you’re offered a job. If you have the skills and experience that the employer is looking for, you may be able to negotiate a higher starting salary.
Conclusion
All in all, the salary of an accountant in Ontario can vary significantly depending on experience and qualifications. If you’re looking to break into the accounting field or are considering re-entering after taking a break from your career, now is a great time to become an accountant in Ontario!
FAQ – How Much Do Accountants Make in Ontario?
How much do accountants make per hour in Ontario?
In Ontario, the average hourly wage for an accountant is $28.27. However, experienced accountants can make up to $40 per hour. The highest-paid accountants in Ontario make about $60 per hour.
How much does a CPA make Ontario?
A CPA in Ontario can expect to make an average salary of $76,638. This salary can range from $60,000 to $85,000 annually, depending on experience and education. The starting salary for a CPA is typically around $50,000 per year.
How long does it take to become an accountant in Ontario?
It usually takes about six to years to fully become an accountant in Ontario. This includes four years of undergraduate studies and three years of professional accounting designation courses.
What qualifications do you need as an accountant?
In order to become an accountant in Ontario, you must have a degree in accounting from a recognized university, and you must also be a member in good standing of the Institute of Chartered Accountants of Ontario (ICAO).
You must also have passed the Uniform Evaluation (UFE) administered by the Canadian Institute of Chartered Accountants (CICA). The UFE is a 3-day exam held twice a year that tests professional accounting knowledge and competencies.
In order to maintain membership with ICAO, you must meet certain continuing education requirements. This includes attending seminars or courses, completing online programs, or pursuing other forms of self-study.
How long is CPA course in Canada?
The CPA course in Canada is three years long. However, the length of the course may vary depending on the province in which you are taking the course. For example, in Ontario, the CPA course is 30 months long.
