Data Scientist Salary in Toronto 2026: Complete Guide

# Data Scientist Salary in Toronto 2026: Complete Guide

Toronto is Canada's largest tech hub and home to the country's most competitive data science job market. With major financial institutions, fast-growing tech companies, and a strong AI research ecosystem anchored by the Vector Institute, the city offers data scientists some of the best opportunities in North America — and salaries to match.

This guide covers what Toronto data scientists actually earn in 2026, broken down by seniority level, employer type, and how the city compares to Vancouver and Montreal.

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Toronto Data Scientist Salary by Level

Here are the current market ranges for data scientists in Toronto in 2026:

These ranges reflect base salary only — total compensation including bonuses, RSUs, and benefits can add 15–40% on top.

For live percentile data on Toronto data scientist salaries, see our Toronto data scientist salary page.

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Where Toronto Data Scientists Work

Financial Services: The Largest Employer

Toronto is Canada's financial capital, and the Big Five banks are among the biggest employers of data scientists in the country:

RBC — One of Canada's largest data science teams, with roles spanning risk modelling, fraud detection, and customer analytics. RBC pays CAD $95K–$155K depending on level.

TD Bank — Invests heavily in AI/ML for retail banking. Mid-level roles typically land at CAD $100K–$135K.

Scotiabank — Strong emphasis on Python and R; data scientists with NLP or fraud modelling experience command premiums.

BMO and CIBC — Both expanded data science hiring significantly post-2023, particularly for enterprise AI and credit risk.

Beyond the Big Five, Manulife and Sun Life are major employers for data scientists focused on insurance pricing models, actuarial analytics, and claims prediction.

Tech Companies

Toronto's tech sector has matured significantly and now includes companies that pay US-adjacent salaries:

Shopify — Canada's most prominent tech company. Data scientists at Shopify earn CAD $130K–$185K+ base, with RSUs that can double total compensation for senior roles.

Wealthsimple — One of Canada's best-paying fintech employers for data roles. Senior data scientists earn CAD $140K–$170K.

Hootsuite — Social analytics-focused roles; pays CAD $95K–$135K at mid-senior level.

Ritual and Nudge — Earlier-stage companies offering equity upside with lower base salaries (CAD $90K–$130K).

Media and Enterprise Tech

Thomson Reuters — Established data science team working on legal AI and content analytics. Competitive pay with excellent benefits (CAD $105K–$150K).

OpenText — Focused on enterprise document analytics and AI; mid-level roles pay CAD $95K–$130K.

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Toronto vs Vancouver vs Montreal

Canada has three meaningful data science markets. Here is how they compare:

Toronto commands the highest salaries, driven by financial services density and a larger overall tech market. Vancouver is close at senior levels, especially at tech companies. Montreal pays less on paper but has a lower cost of living — housing is significantly cheaper than both Toronto and Vancouver, and the city's AI research ecosystem (MILA, Element AI alumni) creates strong career pathways into research-adjacent roles.

One important nuance: Quebec's provincial income tax is higher than Ontario's, which reduces Montreal's salary advantage further when comparing after-tax income.

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CAD vs USD: Putting Toronto in Global Context

Toronto salaries are quoted in Canadian dollars. With a CAD/USD exchange rate of approximately 0.73–0.75 in 2026:

Junior data scientist (CAD $82K) ≈ USD $60K–$62K

Mid-level (CAD $112K) ≈ USD $82K–$84K

Senior (CAD $145K) ≈ USD $106K–$109K

By raw USD comparison, US data science salaries — particularly in San Francisco, Seattle, and New York — are materially higher, often by 30–50% at senior levels. However, this gap is partially offset by:

Universal healthcare: No health insurance premiums to pay

Lower housing costs compared to SF or NYC (though Toronto housing is expensive by Canadian standards)

More generous parental leave (up to 18 months under EI)

Slower cost-of-living inflation outside real estate

For data scientists open to full relocation, ML engineer and data science roles in other markets are worth benchmarking alongside Toronto offers.

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Canadian Tax and Benefits Angle

Ontario Income Tax

As a Toronto-based employee, your provincial tax is Ontario rates. Here is a rough after-tax picture:

CAD $100,000 gross → ~CAD $73,000–$75,000 net

CAD $140,000 gross → ~CAD $97,000–$100,000 net

CAD $180,000 gross → ~CAD $118,000–$123,000 net

The combined federal + Ontario marginal rate reaches 53.5% on income above ~CAD $220,000.

RRSP: The Key Tax Shelter

The Registered Retirement Savings Plan (RRSP) is Canada's primary retirement vehicle and a critical tool for data scientists in higher tax brackets. In 2026, you can contribute up to 18% of your prior year's earned income (maximum CAD $31,560). Every RRSP dollar contributed reduces your taxable income dollar-for-dollar, making it effectively a 43–53% return on contribution depending on your marginal rate.

Many Toronto employers — especially banks and large tech companies — offer RRSP matching of 3–6% of salary, which is free money worth factoring into total compensation comparisons.

Benefits Package

Toronto data scientists at established employers typically receive:

Supplemental health/dental/vision coverage (Canada's public healthcare covers core medical but not dental or vision)

Group life and disability insurance

Annual performance bonuses (10–25% at financial institutions; 15–30%+ at tech companies)

RSUs or stock options at public or pre-IPO companies

Professional development budget (CAD $1,500–$5,000/year at tech-forward employers)

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Skills That Command Higher Pay in Toronto

Certain specializations push data scientists toward the top of the salary range:

LLM fine-tuning and RAG systems — The most in-demand skill in 2026; adds CAD $10K–$25K to offers

Causal inference and A/B testing at scale — Valued at Shopify, Wealthsimple, and retail banks

Credit risk / fraud modelling — Specific to financial services but commands significant premiums

MLOps / ML platform engineering — Data scientists who can productionize their own models earn 10–20% more

NLP for regulatory text — Particularly valuable at Thomson Reuters and financial institutions

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Ready to Benchmark Your Toronto Salary?

Whether you're evaluating an offer from Shopify, considering a move from a bank to a startup, or negotiating your first data science role in Canada, knowing the market rate is step one.

Toronto data scientist live salary data — real-time percentile breakdown

ML engineer salaries in Toronto 2026 — see how data science compares to ML engineering pay

Tech salaries in Germany 2026 — benchmark against European markets

Toronto's combination of financial sector depth, growing tech scale-ups, and Canada's quality of life makes it one of the most attractive data science markets in North America. Understanding where you sit in the range is the foundation of every strong negotiation.