Median Salary: $83,990.40
Change in Salary (2008–2014): +18%
Total Employees: 63,300
Change in Employees (2008–2014): 0%
Who counts the beans of the bean-counters? Every accounting, auditing and financial planning department in the country needs one of these senior managers to oversee the people looking after the books. That means hiring, implementing policy, and working with senior executives from other areas to make sure the money keeps flowing in and out.
How to qualify: The role of a financial manager can vary widely, depending on whether you end up in accounting, auditing, financial planning or risk analysis (to name just a few departments that require financial managers). An educational background in business, finance or economics is essential, but the paths towards becoming a financial manager can. The previous range of accounting certifications in Canada (CAs, CMAs, CGAs) have been unified into the Certified Professional Accountant (CPA) designation; an MBA could pay dividends as an additional investment.
Money: Canadian government data shows that the vast majority (nearly 70%) of financial managers make over $50,000 per year. According to a 2013 survey by staffing firm Robert Half International, accountants in a managerial role at large companies in Canada can make between $77,000 and $101,500 per year. Auditors in the financial services industry, meanwhile, reported salaries of up to $102,000, while chief risk officers can make up to $190,000 per year.
Outlook: Growth in the number of financial managers has plateaued, remaining essentially unchanged over the past five years. But salaries are still growing at a healthy clip. Though it’s tempting to imagine that the stagnant workforce growth means a period of pent-up demand is just around the corner, Employment and Social Development Canada projections suggest a modest increase through 2022.