financial analyst jobs in canada

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financial analyst jobs in canada
financial analyst jobs in canada

everything you need to know about being a financial analyst

A financial analyst is one of the most popular positions in the financial services industry. As a financial analyst, you collect and analyze financial information on behalf of your company or your company’s clients.

As part of your role, you will evaluate a company's financial risk and prepare financial forecasts, capital management, and financing options. Your evaluations cover areas such as takeover bids, private placements, mergers or acquisitions, and other financial information that helps your company achieve their business objectives. You must be aware of current marketing conditions and be able to forecast future economic conditions based on a variety of variables.

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average financial analyst salaries in canada

average financial analyst salaries in canada

Financial analysts can make anywhere from $55,000 to $90,000 depending on where they work, job title and duties, and their years of experience. The average salary for a financial analyst with 3-5 years’ experience falls within the $60,000 - $70,000 range.

Financial analyst salaries are somewhat consistent across the country. Top paying provinces are Ontario, Alberta and BC. Working in larger cities such as Toronto, Montreal, and Vancouver offer the greatest earning potential at the beginning of your career and as you gain experience.

 

 

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what financial analyst jobs entail

Financial analysts typically work traditional 9-5 office hours. You usually work in an office environment, in a full or part time capacity. However, depending on your role, travel may be required.

When you first start out, you will typically report to a portfolio manager or senior analyst. As you gain experience and move up, you will be expected to work independently and manage client projects and portfolios. Your main workstation is a computer, and you might work off-site or at distant company branch location. You can also expect to work in teams, on committees, and work on special projects in a group setting. Therefore, it is important to be comfortable working in a number of environments and situations.

financial analyst jobs canada

your day to day tasks

Your day to day tasks will vary based on your experience level, the company you work for and the specific role you were hired for. In general, in the most common duties as a Financial Analyst, you will:

  • evaluate financial risk, prepare financial forecasts and create reports and recommendations
  • plan short- and long-term cash flows and assess performance
  • analyze investment projects
  • deal with financial backers
  • prepare a risk profile for debt portfolios
  • assist in preparing operating and investment budgets

where you can work

Financial analysts have flexibility in terms of where they can work. All companies need financial analysts, which opens the door for opportunities with companies of all sizes from virtually all industries.

Typically, financial analysts are employed in a wide range of industries in the public and private sectors, such as banks, brokerage houses, insurance and investment companies, manufacturing and utility companies, and underwriting firms. The type of institution that employs you will determine how you specialize. Top financial analyst jobs and opportunities are found in major cities that have large financial districts, such as Toronto.

what you bring to the table

To excel as a financial analyst, you need knowledge and insight into financial markets and economic trends to be aware of current developments in your field so you can advise and predict future economic conditions. Since much of your work is done with company presidents and high-level managers, a high degree of self-confidence and excellent verbal communication skills are required for advancement. Important skills to possess include:

  • strong business acumen
  • excellent communication skills
  • strong understanding of all financial functions and how they interact
  • attention to detail
  • the ability to problem solve
  • the ability to build good working relationships

training and certifications

You need a university degree in commerce, business administration or economics, as well as on-the-job training. Doing an internship during school can help you gain valuable experience and establish connections within the industry.

A post-graduate degree in finance is an asset, and an MBA is preferred by many organizations. While certification is not mandatory, many employers require a Chartered Financial Analyst (CFA) designation. Fluency in both English and French is necessary.

where your career is headed

Financial analyst roles are increasing as reliance and use of financial data has become increasingly important to business strategy and planning. Opportunities have also arisen due to retirement of the baby boomers and promotions of current employees. Unemployment in this role is low, which means that competition for experienced, skilled financial analysts is high. Many companies are hiring new graduates and training them on the job. With experience, you can progress to management positions that come with additional pay and responsibility.

If you are a financial analyst, Randstad can show you the way to a bright future with companies of all types. Start your financial analyst job search today!

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