How to Be in the Top 10% of Income Earners: Go Back to School

The statistics are overwhelmingly in favor of the higher educated when it comes to making the top 10% of income in Canada.

According to the National Household Survey, a university degree increases your probability of being in the top 1%, 5% and 10% of all income earners:

• Top 1% - over two thirds (67.1%) of the top 1% of all earners had a university degree.
• Top 5% - more than half (54.6%) of the top 5% had a degree
• Top 10% - over 50.3% of the top 10% had degrees.

To be fair, those without a degree can make it too; but those who do make more money:
 

• Those with a university degree had the highest median incomes: their median incomes were
  • Top 10% $105,800
  • Top 5% - $137,300 and
  • Top 1% -  $271,600
• Amongst the top earners, Canadians with a postsecondary certificate or diploma below bachelor level could be found as well, but their income was lower:
  • Top 10% - $99,800
  • Top 5% - $125,700 and
  • Top 1% - $248,700

Back to school, therefore, is not just for the kiddies: if you want to top up your income, top up your professional development this fall.

Knowledge Bureau Report is dedicating the month of August to your academic excellence in tax education, with a special tuition fee rebate for Knowledge Bureau Report Readers – a $200 saving on each online certificate course until August 31.  Please mention this code when enrolling: 15AUGGRADEB

Join us throughout this month to learn more about the tax provisions that can help Canadian families fund the educational pursuits of family members!