(Richard Drew/AP)
A career in finance is still the objective of many young graduates. Applications to MBA programs went up 58% in 2015, according to Canada’s Graduate Management Admission Council. Top job prospects range from Financial Manager (No. 9 on our 2016 Best Jobs ranking) to Account Executive and Consultant (92.)
Andre Clumpus got his start in the industry in 2012 with an internship at TD Securities. Now, he’s celebrating his second year with the company as a Senior Financial Analyst. “I’m able to use my communication abilities as well as my financial abilities from my MBA,” he explains. “I’m doing problem solving with Excel, I’m doing expense reporting, I’m writing up presentations and drafting emails and memos over what our expenses are like or what our projects are like, variances and things like that.”
Clumpus says that he appreciates that the job has allowed him to grow his existing skill set, and that he’s looking forward to where his career will take him in the next few years. “It’s steady work, which I like. But I will say that it’s the kind of job where you get out what you put into it,” he says.
According to Richard W. Nesbitt, former chief operating officer of CIBC and current adjunct professor at the Rotman School of Management, the sector has changed quite a bit from when he first got his start. “I think that the alternatives are much greater now,” he says. “Not only is there commercial or investment banking, but there’s also private equity, hedge funds, venture capital, fintech companies.”
According to Nesbitt, “nobody goes into a job any more thinking that it’s their career for life.” He believes that banking and investment banking will continue to dominate the sector, but also predicts an increase in less regulated activities, and fintech, in the next five years. That, and students not necessarily limiting themselves to the national market: “When I graduated in the ’70s, it was really rare to think about anything outside of Canada and even outside of Ontario, quite honestly,” he says. “Today people think nothing of getting on a plane and going to Singapore and working there.”
* Demand Outlook is the estimated demand for employees in that category by 2021:
➚ = more than 1 job per job seeker
➙ = about 1 job per job seeker
➘ = less than 1 job per job seeker
| Job Rank | Job Title | Median Salary | Wage Growth | 5-year employment growth | Outlook* | Job listings by Indeed™ |
|---|---|---|---|---|---|---|
| 9 | Financial & Real Estate Manager | $71,469 | 13% | 39% | ➘ | Search Financial and Real Estate Manager job listings |
| 23 | Corporate Sales Manager | $79,997 | 28% | -23% | ➚ | Search Corporate Sales Manager job listings |
| 25 | Purchasing Manager | $83,429 | 15% | -9% | ➚ | Search Purchasing Manager job listings |
| 35 | Banking & Credit Manager | $87,464 | 25% | -21% | ➙ | Search Banking & Credit Manager job listings |
| 50 | Business Administrative Officer | $79,997 | 15% | 23% | ➙ | Search Business Administrative Officer job listings |
| 51 | Senior Business Manager | $95,992 | 15% | -30% | ➙ | Search Senior Business Manager job listings |
| 52 | Financial Manager | $85,010 | 18% | -11% | ➙ | Search Financial Manager job listings |
| 73 | Business Services Manager | $75,192 | 21% | -27% | ➚ | Search Business Services Manager job listings |
| 85 | Financial Analyst | $71,469 | 13% | 39% | ➘ | Search Financial Analyst job listings |
| 92 | Account Executive Consultant | $68,640 | 9% | 16% | ➙ | Search Account Executive Consultant job listings |
* Demand Outlook is the estimated demand for employees in that category by 2021:
➚ = more than 1 job per job seeker
➙ = about 1 job per job seeker
➘ = less than 1 job per job seeker
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