The Ten Most Valuable College Diplomas for Your Money

After all, the quicker they get a job, the quicker they can pay off their loans and start investing in the rest of their life.

Some degrees may be worth more than others when based on the cost of tuition, the job market and the average salary graduates earn. Dentistry and medical degrees have the highest average salaries — and the highest student debts — but when it comes to college degrees, the most valuable diplomas in Canada based on a 2010 Statistics Canada study, tend to be in business, health, finance and engineering.

Tuition varies across the country, and while the tuition fees listed below are averages, students may pay more or less depending on an individual school’s fee and if they qualify for bursaries, grants, or paid internships.

When it comes to each industry’s growth and potential future growth, some are currently growing faster than others, while some have seen dips. With that in mind, here are the top 10 college diplomas ranked by salary:

“No matter what program you choose in the end, with careful budgeting, planning and hard work, you can find success in any field.”

10. Business/Commerce, General

• Average salary: $61,363

• Weighted average undergraduate tuition fees for Canadian full-time students: $7,068

• First year tuition per term (2017-2018, Seneca College): $1,987

• First year tuition (2017-2018, British Columbia Institute of Technology): $5,612

• First year tuition (2017-2018, Saskatchewan Polytechnic): $6,500

Job growth in business and commerce for the next few years is projected as positive in major markets across Canada. Graduates in this field can enter a variety of industries as accountants, administrators and managers. The federal government’s outlook is good especially in PEI, Quebec and Ontario.

9. Marketing

• Average salary: $62,645

• Cost of tuition for the first year of school across Canada: $7,068

• First year tuition (2017-2018, British Columbia Institute of Technology): $5,612.48

• First year tuition (2017-2018, Seneca College): $7,334

• First year tuition per term (2017-2018, Saskatchewan Polytechnic): $6,500

The government of Canada’s predictions for this industry shows the job and labour market to be very close. Between 2015 and 2024, the number of jobs and job seekers are expected to be 16,600 jobs with 16,000 job seekers. Marketing careers for graduates include business development, sales, and consumer research among others.

8. Finance and Financial Management Services

• Average salary: $63,072

• Weighted average undergraduate tuition fees for Canadian full-time students: $7,068

• First year tuition (2017-2018, British Columbia Institute of Technology): $5,612.48

• First year tuition (2017-2018, Seneca College): $4,028

• First year tuition (2017-2018, Camosun College): $7,600

The Economist recently released a video stating people who studied finance had the best chances of becoming part of the 1%. Job growth for the finance industry is expected to be moderate, focusing on financial and investment analysts with a focus on Ontario, specifically Bay Street.

7. Insurance

• Average salary: $69,472

• Weighted average undergraduate tuition fees for Canadian full-time students: $7,068

• First year tuition (2017-2018, Seneca College): $4,028

• First year tuition (2017-2018, New Brunswick Community College): $3,250

• First year tuition (2017-2018, Saskatchewan Polytechnic): $6,500

Growth in insurance jobs is expected to continue, but may be limited by Canada’s aging population who are decreasing the number of new insurance purchases, and by the financial impact of the wildfires in Alberta.Insurance technology is one area where entrepreneurs and startups could disrupt traditional insurance companies and provide new job opportunities.

6. Allied Health Diagnostic, Intervention and Treatment Professions

• Average salary: $69,850

• Weighted average undergraduate tuition fees for Canadian full-time students: $6,191

• First year tuition per term (2017-2018, British Columbia Institute of Technology): $3,715

• First year tuition (2017-2018, Algonquin College graduate degree): $6,246

• First year tuition (2017-2018, College of the North Atlantic): $2,973

This includes jobs like Respiratory Care therapist, Magnetic Resonance Imaging (MRI) technician and ultrasound technician. These fields require the completion of a two-to-three year college or other approved program. While national numbers aren’t available, the consensus for Toronto and Ontario is positive for growth and employment.

5. Criminology

• Average salary: $70,267

• Weighted average undergraduate tuition fees for Canadian full-time students: $5,721

• First year tuition per term (2017-2018, North Island College): $4,995

Most criminology degrees tend to be at the university level and often include sociology degrees. Overall, the strongest regional markets in the next three years include Alberta and British Columbia.

4. Marine Transportation

• Average salary: $79,132

• Weighted average undergraduate tuition fees for Canadian full-time students: $6,191

• First year tuition (2017-2018, British Columbia Institute of Technology): $7,710

• First year tuition per term (2017-2018, Nova Scotia Community College): $2,912

• First year tuition per term (2017-2018, Georgian College): $2,490

This includes jobs like marine transportation and petroleum industry Deck and Engineering Officers. If this is your chosen field, you might be in luck: The government of Canada is predicting a labour shortage for marine transportation between 2015-2020, with approximately 11,000 new jobs and only 7,600 skilled workers to fill the positions.

3. Air Transportation

• Average salary: $85,556

• Weighted average undergraduate tuition fees for Canadian full-time students: $6,157

• First year tuition per term (2017-2018, British Columbia Institute of Technology): $2,819

• First year tuition (2017-2018, Seneca College): $4,028

• First year tuition (2017-2018, Georgian College): $3,232

Air transportation includes jobs like air traffic controller and airfield operations specialists. Just as with marine transportation, there is a predicted labour shortage in this field, leading to a higher demand for workers.

2. Stationary Energy Sources Installer and Operator

• Average salary: $95,56

• Weighted average undergraduate tuition fees for Canadian full-time students: $5,582

• First year tuition per term (2017-2018, Cambrian College): $1,966

• First year tuition (2017-2018, Centennial College): $2,936

• First year tuition (2017-2018, Nova Scotia Community College): $3,220

Jobs include installing, operating and fixing power sources as part of Canada’s involvement in wind and other sources of energy. Continued investment means an upward trend for jobs between 2015-2024. An estimated 12,300 job openings are expected to be created, with 11,900 new job seekers.

1. Mining and Petroleum Technologies/Technicians

• Average salary: $102,986

• Weighted average undergraduate tuition fees for Canadian full-time students: $8,099

• First year tuition (2017-2018, Seneca College): $4,431

• First year tuition (2017-2018, British Columbia Institute of Technology): $6,270

• First year tuition per term (2017-2018, Cambrian College): $1,466

The job prospects in these fields are positive. Between 2015-2024, Statistics Canada predicts technical occupations in physical sciences will increase to 10,100 with 9,900 new job seekers expected.

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Source: Earnings of Postsecondary Graduates by Detailed Field of Study.

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