GRACEWAY PHARMACEUTICALS
"The decision to locate Graceway Pharmaceutical's Canadian headquarters in London was based primarily on our people. London offers a tremendous quality of life. The affordability, limited commute, and security of a community this size make it a wonderful place to both live and work. For the business, London is a great fit due to its world class health care facilities and growing biotech sector."
Erin Craven, General Manager
Wages & Benefits
It is estimated that Canadian statutory and employer sponsored benefit costs are currently 8.6% lower than similar U.S. costs. Experience at local companies suggests that employee benefit costs approximate 35% of base wages and salaries. This includes 20% for statutory benefits and 15% for optional programs. Government regulated benefits include Vacation, Holidays, Employment Insurance, Canada Pension Plan, Employer Health Tax and Workplace Safety Insurance. A breakdown of statutory and optional benefit costs reflects the following expressed as a % of base compensation.
Statutory Benefit Costs - 20%
- Vacation (two weeks minimum requirement)
- Holidays (9 public holidays minimum requirement)
- Employment Insurance (on earnings to a maximum C$45,900)
- Canada Pension Plan (on pensionable earnings to a maximum C$50,100)
- Workplace Safety Insurance (on earnings to a maximum C$81,700)
- Employer Health Tax (on gross payroll greater than C$400,000)
Optional Benefit Costs - 15%
- Health, dental, life and disability insurance
- Company pension (cost normally shared between employees and employer)
- Additional vacation days
- Additional holidays
Related Links
Service Canada (Wages & Salaries)
More Information on Wage Rates in London (PDFs)
Update Your Business Profile
Add Your Business Profile [FREE]
Admin Login
