What is a Living Wage?
What is a Living Wage?
Vancity is one of Canada’s largest private-sector Living Wage employers.
A Living Wage is the hourly rate required for two working parents to meet the basic needs of a family of four. The family of four is the most common family size and the Living Wage for this family is a fair proxy for other family sizes and single adults.
Currently, the minimum wage in BC is $15.65 per hour—and it’s not enough. Families who work for low wages often face impossible choices: buy food or heat the house, feed the children or pay the rent.
Paying a Living Wage allows individuals and families to meet their basic needs and contribute to their communities. A Living Wage means strong local economies, and sustainable and healthy communities. In November 2022, The Living Wage Campaign of BC announced the updated living wage for Metro Vancouver, which is set at $24.08 per hour.
Vancity is a proud signatory to the Living Wage Campaign and is committed to meeting, or exceeding, the annual Living Wage rate for our employees and our contracted suppliers.
A Living Wage: impacting employees and their communities
As a Living Wage Employer we are building wealth into the communities where we live and work. It’s one of the best local economic development strategies we can employ.
We are committed to meeting the annual Living Wage rate for our employees and our contracted suppliers.
Are you an employer? Want some help on your Living Wage journey?
We want to share what we learned with other employers—the more employers who join us in paying a Living Wage, the more we can impact our local communities.
Download our guide: Living Wage roadmap for large employers (PDF, 1.9MB)
Learn more about the Living Wage
- A Living Wage for Families
livingwageforfamilies.ca - Living Wage Canada
livingwagecanada.ca - Benefits of Living Wage to businesses
Article and video from CBC - Living wages on the rise
Video