As Prime Minister of Canada, Mark Carney’s salary is determined by federal statute under the Salaries Act, which sets compensation for Members of Parliament and cabinet roles. Prime minister pay is standardized and does not vary by individual.
According to the Government of Canada and Treasury Board of Canada Secretariat, the Prime Minister’s total annual salary is approximately $406,200, following the April 2024 adjustment. This amount combines the base MP salary with the additional salary attached to the prime minister’s office. As prime minister, Mark Carney would earn this same amount.
This compensation is fully disclosed and publicly available. It does not include personal investments, assets, or income earned outside of public office.
For comparison, when Carney served as Governor of the Bank of England, his salary was publicly reported at approximately £495,000, as disclosed by the Bank of England Annual Report and covered by outlets such as BBC News and The Financial Times. That figure was significantly higher than the salary attached to Canada’s top political office.
The contrast reflects a broader trend confirmed by PublicPayPulse and Sunshine List data: Canada’s elected leaders earn far less than senior public-sector executives and private-sector CEOs.