Michael Smart

University of Toronto/Professor of Economics

2025 Salary

$343,565

Total compensation $343,733, including $168 in taxable benefits.

Source: Ontario’s Public Sector Salary Disclosure — names paid $100,000 or more that year. How we build this · Report an error on this page

At a Glance
2025

Employer Rank

#245

University of Toronto

Years on List

2003–2025

Peak Salary

$343,565

2025

Full 2025 roster at University of Toronto →·See where $343,565 ranks →

Total Compensation History

Total compensation, 2003–2025. Axis starts at $100,000, the Sunshine List disclosure threshold.

Full History
2003–2025

$108,628 in 2003 is worth about $173,509 in 2025 dollars.

Full salary history, by year
Year	Employer	Position	Salary	Benefits	Total
2025	University Of Toronto	Professor of EconomicsUniversity Of Toronto	$343,565	$168	$343,733
2024	University Of Toronto	Professor of EconomicsUniversity Of Toronto	$290,525	$172	$290,697
2023	University Of Toronto	—University Of Toronto	$263,129	$172	$263,301
2022	University Of Toronto	Professor of EconomicsUniversity Of Toronto	$227,139	$181	$227,320
2021	University Of Toronto	Professor of EconomicsUniversity Of Toronto	$216,493	$191	$216,684
2020	University Of Toronto	Professor of EconomicsUniversity Of Toronto	$212,768	$202	$212,970
2019	University Of Toronto	Professor of EconomicsUniversity Of Toronto	$208,522	$240	$208,762
2018	University of Toronto	Professor of EconomicsUniversity of Toronto	$202,453	$269	$202,722
2017	University of Toronto	Professor of EconomicsUniversity of Toronto	$185,198	$2,906	$188,104
2016	University of Toronto	Professor of EconomicsUniversity of Toronto	$185,818	$2,956	$188,773
2015	University of Toronto	Professor Of EconomicsUniversity of Toronto	$182,696	$3,351	$186,046
2014	University of Toronto	Professor of EconomicsUniversity of Toronto	$180,709	$3,064	$183,773
2013	University of Toronto	Professor of EconomicsUniversity of Toronto	$176,811	$2,883	$179,694
2012	University of Toronto	Professor of EconomicsUniversity of Toronto	$172,892	$4,024	$176,916
2011	University of Toronto	Professor of EconomicsUniversity of Toronto	$167,669	$1,786	$169,455
2010	University of Toronto	Professor of EconomicsUniversity of Toronto	$140,229	$295	$140,524
2009	University of Toronto	Professor of EconomicsUniversity of Toronto	$154,845	$283	$155,129
2008	University of Toronto	Professor, EconomicsUniversity of Toronto	$150,464	$283	$150,747
2007	University of Toronto	Professor, EconomicsUniversity of Toronto	$138,155	$283	$138,438
2006	University of Toronto	Professor of EconomicsUniversity of Toronto	$127,274	$300	$127,574
2005	University of Toronto	Professor, EconomicsUniversity of Toronto	$106,252	$310	$106,561
2004	University of Toronto	Professor, EconomicsUniversity of Toronto	$111,783	$312	$112,095
2003	University of Toronto	Professor, EconomicsUniversity of Toronto	$108,628	$302	$108,930

Take-Home Pay
(After Tax) · 2025 estimate

Take-home on Michael Smart's 2025 salary of $343,565 comes to roughly $199,612 once federal and Ontario income tax (about 40.3% effective) is deducted. The 2025 median for Professor of Economics on the list was $343,565, almost exactly this figure. That is about 18% more than the $290,525 paid in 2024. This estimate leaves out pension contributions; members of OMERS, OTPP, HOOPP or OPTrust typically take home another 7–10% less.

Estimated net pay: ~$199,612
Effective income-tax rate (excl. CPP/EI): ~40.3%
CPP + EI contributions: ~$5,507
All-in deduction rate (incl. CPP/EI): ~41.9%
vs. 2025 Professor of Economics median: about even

Where does $343,565 rank on the Sunshine List? →

Estimate only: 2025 federal and Ontario rates, basic personal amounts, Canada employment amount and CPP/EI credits; single, employment income only, salary treated as full-year income. Ignores pension contributions (OMERS, HOOPP, OTPP, OPTrust and similar plans lower actual take-home), union dues, RRSPs and benefits.

Also at University of Toronto
2025

Also at University of Toronto, 2025
#	Name	Position	Salary	Total
1	Alan Aspuru-Guzik	Professor of Chemistry and Computer Science	$649,993	$684,041
2	Brian Golden	Professor of Strategic Management	$616,607	$616,858
3	Mikhail Simutin	Associate Professor of Finance	$593,667	$603,115
4	David Goldreich	Professor of Finance	$601,972	$602,270
5	Theodore Brown	Professor, Obstetrics and Gynaecology	$598,159	$598,224
6	William Strange	Professor of Economic Analysis and Policy	$596,033	$596,242
7	Meric Gertler	Professor of Geography and Planning	$555,450	$588,914
8	Wei-Yi (Scott) Liao	Professor of Accounting	$573,981	$576,190
9	Dilip Soman	Professor of Marketing	$575,404	$575,529
10	Partha Sarat Mohanram	Professor of Accounting	$573,196	$573,321