The burgeoning cannabis industry in Canada is causing an uptick in hires and growth in salaries.
The cannabis business has proved to be quite successful in Canada, with recreational use looming licensed producers (LPs) and multiples of cannabis-related business are expanding beyond expectations.
A report from Marijuana Business Daily showed with the growth of the industry more and more jobs are becoming available.
“The industry could add another 150,000 jobs over the next couple of years, according to one estimate, and a recent survey showed that salaries are more mainstream than ever,” the report indicated.
According to the report this upwards trend of hires can be credited due to LPs need to scale up in order to meet the demand caused by the legalization of the recreational market. This business trend has caused licenses to go up and demand for product to increase as well.
“As an industry, we’re not only in a growth phase, but we’re also scaling up for legalization in the middle of next year,” Cam Battley, executive vice president of Aurora Cannabis (TSX:ACB) told Marijuana Business Daily.
Battley said he expect employment to increase “extremely rapidly” within the next two years.
Cannabis industry attracting business types from other markets
This report came together in part thanks to a survey conducted by staffing firm Cannabis At Work showed the average salaries for different roles in prominent companies. The survey noted the five highest paying roles, on average are: marketing manager, senior accountant, quality assurance person, human resources manager and cultivation manager.
Alison McMahon, Cannabis At Work’s founder and chief executive officer told Marijuana Business Daily she expect the industry as a whole to add nearly 150,000 “over the next couple of years.”
“This is a very exciting industry right now and perhaps the fastest growing in Canada. It’s attracting the curious, the talented and the bold.”
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.