Where Are Finance And Accounting Jobs In Canada Headed?
The financial industry is a staple of Canadian industry. TSX, Canada’s largest stock exchange, is the 9th largest in the world, and Canada’s big 5 banks are regarded as some of the most stable worldwide. Though financial growth has been slow in Canada over the last several years due to incredibly low interest rates, last year saw a marked improvement from 2016.
In 2018, finance and accounting professionals are expected to be technically savvy, using tools to decipher and parse data and make informed financial decisions. As a result, analyst roles such as business analyst and financial analyst are the fastest growing roles in the sector.
Top Finance and Accounting Job Titles in 2018
In 2018, the list of top finance and accounting jobs looks quite different than last year’s. Though accountants and financial analysts remain in high demand, business analysts have jumped near the top of the list. The remaining list of in-demand jobs are diverse, including roles like controller, accounting clerk, financial adviser and payroll jobs.
1. accountant 2. business analyst
3. financial analyst 4. controller
5. accounting clerk 6. financial adviser
7. tax manager 8. payroll
Growth in Finance and Accounting Jobs
Over 675,000 finance and accounting professionals work in Canada. In the last year there was an increase of 4,680 new jobs in the finance and accounting sector, indicating positive growth.
The demand for financial experts is concentrated in Toronto, with more than 65% of the new jobs appearing in Toronto. As the home of the TSX, and head offices of many of Canada’s biggest banks, this is to be expected. Montreal also saw noticeable growth.
Finance and Accounting Salaries In 2018
The finance and accounting sector has median salary of $73,650 in 2018. This is down from $85,000 last year, however finance and accounting continues to be one of the highest paying sectors in Canada. The lowest 10% of earners make $47,950 or less, while the top 10% of earners make $99,350 or more.
Salaries across Canada
Average finance salary in Toronto: $55,800 to $138,700
Average finance salary in Vancouver: $54,600 to $134,600
Average finance salary in Montreal: $45,550 to $103,250
Average finance salary in Calgary: $57,400 to $144,250
Average finance salary in Edmonton: $59,550 to $151,700
Average finance salary in Ottawa: $56,350 to $140,700
Average finance salary in Quebec city: $42,600 to $93,100
Average finance salary in Halifax: $53,950 to $132,250
The Best Finance Skills in 2018
The financial skills that employers are looking for in 2018 are relatively unchanged. The only new entry on the top finance skills for 2018 is a CMA (Certified Management Accountant) designation.
1. CPA designation 2. Accounting Software
3. Bilingualism (French) 4. Accounts Payable
5. General Ledger Software 6. Structured Query Language (SQL)
7. Canadian Securities Course (CSC) 8. CMA designation
Top Industries Hiring Finance Professionals
As you would expect, the top industries hiring finance professionals are the finance and insurance industries, same as last year. However, new on this year’s list is the manufacturing industry, which isn’t unexpected, as the manufacturing sector saw a surprising amount of growth in Canada over the last year.
1. Finance and Insurance 2. Accounting
3. Manufacturing 4. Retail
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