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Posted on December 12 2022

Canada Job trends of Finance Officers, 2023-24

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By  Editor
Updated February 24 2024

Why work in Canada as a Finance Officer?

  • 6% employment growth is expected by 2031
  • 1.5 million new comers by 2025
  • Canada offers median annual wages CAD 98,323.20 to Finance Officers
  • 7 provinces offer highest wages for Financial Officers
  • No LMIA required to work in Canada
  • 13 pathways are available for civil engineers' immigration to Canada

About Canada

Canada revised its immigration targets as it is been facing workforce shortages for the last few months. The new immigration target levels plan for 2023-2025 is been set by the Canadian government based on the shortages.

 

The immigration levels plans for the next 3 years for Canada are shown in the following table:

 

Year

Immigration Levels Plan
2023

465,000

2024

485,000
2025

500,000

 

Canada has released the immigration levels plan for 2023-2025 and have clear plans for maximizing the immigration targets. It aims to welcome 1.5 million newcomers by 2025. With this step, the country can bounce back in terms of economy and balance the needs of the country’s international obligations.

 

Canada so far has already crossed its immigration target for 2022 and has plans to extend the immigration targets for the coming 3 years. In order to attract more foreign immigrants Canada has been modernizing the immigration system and has been introducing to convert temporary routes to permanent ones.

 

Read more…

400,000 new jobs in Ontario & Saskatchewan, Canada! Apply right now!

50% Canadian population will be the immigrants by 2041

 

Job trends in Canada, 2023

Around 40% of Canadian businesses have severe shortages in the workforce. More than 18.5% of Canadians are above 65 years old. Hence there is a huge scope of employment for foreign immigrants.

 

Employment is maximized for both part-time and full-time jobs in Canada during September 2022. The unemployment rate has reached 5.7%, which is the highest in the last 2 years i.e., post-pandemic. No Canadian citizens or permanents are present to fill the unoccupied jobs even the current ones are doing multiple. Hence Canada is looking for immigration as its response strategy.

 

Most of the provinces of Canada have reported an increase in job vacancies in the second half of 2022. Canadian employers have been increasing the average hourly wages for almost all sectors by 5.3% by 2021 end.

 

The table mentioned below shows the increased job vacancies and the provinces in percentage

 

Canadian Province

Increase in percentage of job vacancies
Ontario

6.6

Nova Scotia

6
British Columbia

5.6

Manitoba

5.2
Alberta

4.4

Quebec

2.4

 

Read more…

Rising job vacancies in Ontario, desperate need for more foreign workers

80% of employers are hiring immigrant skilled workers in Canada

1 Million+ Jobs vacant for 150 days in Canada; Unemployment drops to record low in September

 

Finance Officer, NOC Code (TEER code)

The finance officer’s job role is also similar to the role of accounting technicians and bookkeepers. They need to maintain and keep records of accounts, complete sets of books, check the procedures used for recording financial transactions, & issue personal bookkeeping services.

 

The financial officers can be employed through the public and private sectors, or even can be self-employed. The NOC code as per 2016 version 1311 for the Finance officer. Whereas the upgraded NOC, 2021 version 12200, and the TEER code 11102.

 

Roles and Responsibilities for Finance Officer

  • Retain financial records and set up, maintain & balance different accounts using either manual or computerized bookkeeping systems.
  • Entries of post journal & reconcile accounts, make the trial balance of books, continue maintaining general ledgers & prepare the financial statements.
  • Compute and prepare cheques for tax, payrolls, and for utility & other bills.
  • Finish off and submit the tax remittance forms, forms related to pension contributions, workers' compensation, and related to other government documents.
  • Get ready with the preparation of tax returns and perform bookkeeping services that are personal.
  • Prepare reports related to financial and accounting and other statistics.

 

Prevailing wages of Finance Officer in Canada

Northwest Territories, Nunavut, Ontario, Newfoundland and Labrador, Saskatchewan, British Columbia, and Alberta, on average pay the highest wages per annum for Finance Officer Jobs.

 

Apart from these the other provinces also have a huge requirement for Finance related jobs. The average hourly wage for Finance Officers in Canada is between CAD 16.00 per hour to CAD 38.69/per hour.

 

The hourly wages differ based on the requirement of provinces & territories. To get a job as a Finance Officer, individuals need to know the requirements of the jobs for each province.

 

The table below displays the average wages per annum with respect to the provinces of Canada.

Province/Areas

Average wages per annum
Canada

46,156.80

Alberta

53,164.80
British Columbia

46,156.80

Manitoba

43,392
New Brunswick

40,320

Newfoundland and Labrador

48,000
Northwest Territories

82,214.40

Nova Scotia

38,400
Nunavut

98,323.20

Ontario

48,000
Prince Edward Island

39,955.20

Quebec

44,313.60
Saskatchewan

47,270.40

 

Eligibility criteria for Finance Officer

  • A secondary school certificate is needed.
  • Must have completed a college program in accounting, bookkeeping, or an associated field. Or must have completed 2-years of a recognized professional program in accounting. Or must have done courses in accounting or bookkeeping by combining with several years of experience as an accounting clerk or financial-related work is required.
     

Finance Officer - Number of vacancies in Canada

Currently around 2257 Finance officer jobs across the provinces and territories of Canada. Check out the table for the list of available jobs for the Finance Officer.

 

Location

Available jobs
Alberta

588

British Columbia

678
Canada

2257

Manitoba

78
New Brunswick

27

Newfoundland and Labrador

9
Nova Scotia

41

Nunavut

1
Ontario

571

Prince Edward Island

5
Québec

171

Saskatchewan

84
Yukon

4

 

*Note: The number of job vacancies may differ. This is given as per the information on October, 2022.

 

Finance Officers have different prospects based on their work. Following is the list of titles that come under this occupation.

  • Accounting technician
  • Bookkeeper
  • Accounting bookkeeper

The Finance Officer opportunities for the next 3 years in the provinces and the territories are listed in the following table.

 

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?

Finance Officer is one of the highest in-demand occupations across provinces and territories in Canada. To search for a job, or directly migrate to Canada as a Finance Officer, individuals need to either apply through TFWP (Temporary Foreign Worker Program), IMP (International Mobility Program), and Federal Skilled Trades Program (FSTP).

 

They can migrate to Canada through:

 

Also read….

Start working in Canada within 2 weeks through GSS visa, from November 16, 2022

Am I eligible to apply for 2 Canadian immigration programs at once?

 

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

 

Y-Axis offers assistance to find Finance Officer jobs in Canada with the following services.

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Finance Officer-Canada job trends

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