Jim was born and raised in Marystown, NL and in 1964 he moved to Labrador City. He was educated in Business Administration by distance education through Memorial University where he completed courses up to final level of studies toward a professional accounting designation. Jim's thirty-year work career has been spent in business and finance, and was employed by the Iron Ore Company of Canada as a Senior Business Analyst where he remained until his retirement in 2001.

He was elected to the Town Council of Labrador City in 2005 and was named Chair of the Finance and Administration Committee, a member of the Economic Development Committee and the Planning and Beautification Committee. Jim resigned from Council in 2007 when he was elected as the Member of the House of Assembly for the District of Labrador West. Jim Baker was elected to represent the people of Labrador West in a by-election on Tuesday, March 13, 2007.

Jim resides in Labrador City with his wife Theresa, two children and four grandchildren.