Canada Job Trends - Finance Officer, 2023-24

Why work in Canada as a Finance Officer?

• More than 1 million job vacancies
• Finance Officer can earn an average annual salary of CAD 66,195/year
• Nunavut gives the highest pay of CAD98,323 for Finance Officer
• Alberta, Northwest Territories, Nova Scotia, and Ontario have highest number of job openings
• Finance Manager can migrate to Canada through 15 different pathways

About Canada

In 2022, Canada saw a massive number of immigrants being issued the Canada PR or permanent residency. The country sent 274,980 ITAs or Invitations to Apply by July 2022. A Canadian non-profit organization, Century Initiative, expects the country to double its population by 2100. The organization expects Canada to have 100 million by the end of this century.

The reports by IRCC or Immigration, Refugees, and Citizenship Canada has published that Canada has sent 274,980 ITAs to newcomers. Canada hopes to welcome 471,394 immigrants through permanent residency in Canada in 2022. The figure has increased by around 16.1% to 406,025 immigrants granted permanent residency in Canada in 2021.

The details of the Immigration Levels Plans of 2023-2025 are given in the table below:

Immigration Class	2023	2024	2025
Economic	2,66,210	2,81,135	3,01,250
Family	1,06,500	114000	1,18,000
Refugee	76,305	76,115	72,750
Humanitarian	15,985	13,750	8000
Total	4,65,000	4,85,000	5,00,000

Read more... Canada immigration levels plan 2023-2025; 1.5 million immigrants by 2025

Job trends in Canada, 2023

The reports of the Labor Force Survey 2022 were recently published. The report shows the scenario of job vacancies in Canada and the trend of the job market in Canada in September 2022.

The unemployment rate decreased to 5.2% in September of 2022. It went down by 0.2% from the figures of August 2022. The employment rate of individuals suitable for the workforce in Canada in September 2022 was 84.2%.

Read more…

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Finance Officer, NOC Code - 1311

Finance Officers maintain sets of finance books, keep account records, assess the procedures for financial transaction records, and provide bookkeeping services. They are employed in the private as well as public sectors. They can choose to be self-employed.

This group performs some or all of the following duties:

• Maintain financial records and balance multiple accounts through manual or computerized bookkeeping systems
• State journal entries and coordinate accounts, assemble trial balance of books, sustain general ledgers, and develop financial statements
• Calculate and arrange cheques for payrolls, tax, utility, and other bills
• Duly fill and submit forms for tax remittance, workers' compensation, pension contribution, and other documents
• Arrange tax returns and execute other bookkeeping services
• Devise other financial, accounting, and statistical reports.

These are the job titles for Finance Officers in Canada:

• Bookkeeper
• Accounting bookkeeper
• Accounting technician
• Financial accountants and auditors
• Insurance, banking, and other financial clerks
• Payroll administrators
• Accounting and related clerks

Prevailing wages of Finance Officer in Canada

The average annual income of Finance Officers in Canada is 66,195 CAD. The highest annual income is 126,750 CAD, and the lowest annual income is 52,385 CAD. The incomes in the various provinces and territories of Canada are given in the table below:

Income of Finance Officers in Canada
Community/Area	Annual Income (in CAD)
Alberta	53,165
British Columbia	46,157
Manitoba	43,392
New Brunswick	40,320
Newfoundland and Labrador	48,000
Northwest Territories	38,400
Nova Scotia	38,400
Nunavut	98,323
Ontario	48,000
Prince Edward Island	39,955
Quebec	21,234
Saskatchewan	47,270

Eligibility criteria for Finance Officer

The eligibility criteria for a Finance Officer in Canada are:

• Graduating from secondary school
• Completing a college degree program in bookkeeping, accounting, or other related fields or completing 2 years of an accredited professional accounting program or Courses in bookkeeping or accounting combined with a significant number of years of work experience as an accounting or financial clerk are required

Finance Officer - Number of vacancies in Canada

There are multiple opportunities for Finance Officers in Canada. The job prospects for Finance Officers in various provinces and territories in Canada are given in the table below:

Location	Job prospects
Alberta	Fair
British Columbia	Good
Manitoba	Good
New Brunswick	Good
Newfoundland and Labrador	Good
Northwest Territories	Fair
Nova Scotia	Fair
Nunavut	Good
Ontario	Fair
Prince Edward Island	Good
Quebec	Good
Saskatchewan	Good
Yukon Territory	Good

 

How can a Finance Officer migrate to Canada? 

There are multiple pathways to migrate to Canada as a Finance manager. The 4 popular pathways are:

• Express Entry system
• Provincial Nominee Program
• The Rural and Northern Immigration Program
• The Atlantic Immigration Pilot

       1. Express Entry

The Express Entry system is a popular way to migrate to Canada as a Finance manager. If the candidate meets the eligibility criteria, they can migrate within 6 months. These are the factors on which points in CRS or Comprehensive Ranking System are awarded:

• Age
• English ability
• French ability
• Qualifications
• Partner's Qualification
• Work experience

2. Provincial Nominee Program

The PNP or Provincial Nominee Program facilitates internationally skilled and semi-skilled professionals to work and live in Canada. The candidates are required to have a valid employment offer in Canada of a minimum of 1 year in any immigration stream. Each province and territory has its own specific labor needs. These are the popular PNPs:

• British Columbia PNP
• Manitoba PNP
• New Brunswick PNP
• Newfoundland and Labrador PNP
• Nunavut PNP
• Prince Edward Island PNP
• Quebec PNP
• Saskatchewan PNP
• Yukon Territory PNP
• Alberta PNP
• Northwest Territories PNP
• Nova Scotia PNP
• Ontario PNP

If the candidate meets the eligibility criteria of the province or territory of their interest, they will receive a nomination from the province. A provincial nomination adds 600 extra points and offers better chances of Canada PR or permanent residency.

3. The Rural and Northern Immigration Pilot

Since Finance managers are sought-after, candidates are eligible to migrate to Canada under RNIP or the Rural and Northern Immigration Pilot. 11 communities participate in the program.

The candidate needs to have a valid employment offer in any of the participating provinces or territories to be eligible to apply for Canada PR through the RNIP.

4. The Atlantic Immigration Pilot

The Atlantic Immigration Pilot facilitates Finance Managers to migrate to Canada. Few of the Atlantic Provinces require Finance Managers. The provinces are:

• New Brunswick
• Newfoundland and Labrador
• Prince Edward Island
• Nova Scotia

The candidates need to have an employment offer for 1 year in any of the Atlantic Provinces.

How can Y-Axis help a Finance Officer to immigrate to Canada?

These following services are offered by Y-Axis for the high probability of immigration to Canada:

• Check your eligibility to Canada through the free Canada Immigration Points Calculator
• Get career counseling for a career in Canada
• Ace your tests like IELTS and PTE with expert guidance in coaching services
• Job search services – linked in, resume writing
• Get guidance to apply for Canada PR

Do you want to work in Canada? Contact Y-Axis, the leading Work Abroad Consultant.

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