A report from the Conference Board of Canada found that employers in the country are willing to pay higher salaries to entry-level millennial employees with select skills, according to Bloomberg BNA.
A survey by the organization of employers across Canada revealed that companies would generally anticipate paying millennials annual starting salaries of between $33,000 and $50,000. However, employers said they’d pay “significantly more” for millennial talent with specialized skills. The estimated average starting salaries were highest for young employees in geology and engineering, at $50,907 and $47,584, respectively.
Entry-level millennial workers with graduate degrees in these fields as well as law and technology were also particularly likely to receive higher salaries, the report revealed.
“Many young Canadians are experiencing difficulties integrating into the workforce or are underemployed in the current job market,” said Allison Cowan, director of the the Compensation Research Centre, in a statement that came with the report. “Despite these difficulties, many organizations are actively seeking highly educated millennials and are increasingly willing to pay a premium for new graduates to mine their specialized skill sets in areas such as technology and engineering.”
The average annual starting salary in Canada for a newly graduated employee who holds a bachelor’s degree is $54,295, according to Maclean’s.