Immigration Living In Canada

What Are The Best 10 Accounting And Finance Job In Canada For Newcomers?

Accounting And Finance Job In Canada For Newcomers?
Written by Laura

Are you an accountant and new to Canada? If yes, we entreat you to consider yourself lucky. You may be wondering why we said so, well, the answer is simple – there are high-paying accounting finance jobs available in Canada.

That being said, we will show you in this article, the accounting, and finance jobs in Canada for newcomers, you will find out if Canada is good for newcomers who want to build their career in finance, the skills required for you to get the job and lastly, the primary requirements for securing accounting and finance jobs in Canada.

Now, it’s time to get right into it. 

Just before we proceed to list the ten accounting and finance jobs in Canada that pay well for newcomers, let’s find out if finance as a career can thrive in Canada. 

Is Canada Good for Finance Career for Newcomers?

As of the year 2020, the average salary of a single individual in Canada was approximately 169,000 CAD, and what determines your salary range is the years of experience and degree of education in which the said individual has reached.

The same thing applies to the account and finance sector. This is evident in the fact that in 2021, this sector recorded a remarkable mean average salary of $97,000 (roughly 122,054.61 CAD) and the same thing happened last year.

No doubt, Canada is absolutely a good place for a finance career to thrive considering not just the average salary grade but also other benefits like housing and transport.

Since we have established the fact that Canada is a good country for a finance career to thrive, it is time to look at the top ten well-paying accounting and finance jobs in Canada for newcomers

What Are The Best 10 Accounting And Finance Job In Canada For Newcomers?

Below is the list of the top 10 high-paying accounting and finance jobs in Canada for newcomers, and they include:

  1. Senior financial advisor
  1. Accountant
  2. Business analyst
  3. Financial controller
  4. Cost accounting manager
  5. Finance director
  6. Financial advisor
  7. Business analyst
  8. Payroll clerk
  9. Tax accountant

   10.  Finance intern

1. first one is Finance Director

The role of a finance director is known to be an executive one under the finance department. The duty of a finance director is to manage and control the day-to-day financial operations of the company and notify the CFO of the outcome. 

For them to have made this list, of course, they are one of the accounting and finance jobs in Canada that pay high.

Although the average yearly salary of a financial director in Canada in 2021 is approximately 253,000 CAD, nevertheless, the salary range is not the same for everyone, while some earn higher, some earn lower than usual and where you fall depends on the level of experience you have and the educational level.

For the level of work experience you have, the salary range is below:

From 0 to 2 years: 159,000 CAD

From 2 to 5 years: 200,000 CAD

From 5 to 10 years: 264,000 CAD

From 10 to 15 years: 310,000 CAD

From 15 to 20 years: 344,000 CAD

From 20 years upward: 366,000CAD

And based on education level:

Certificate or Diploma: 193,000 CAD

Bachelor’s Degree: 212,000 CAD

Master’s Degree: 281,000 CAD

Ph.D: 355,000 CAD

2. Cost Accounting Manager

The duty of a cost accounting manager revolves around a business’s budgeting, department tracking or that of product expenditures, analysis or financial information, and keeping records and he/she is answerable to the CFO (Chief Financial Officers) also known as the finance director.

Just like the first one, the average yearly salary varies based on their level of experience and academic qualifications as seen below:

For the level of work experience you have, the salary range is below:

From 0 to 2 years: 90,300 CAD

From 2 to 5 years: 125,000 CAD

From 5 to 10 years: 177,000 CAD

From 10 to 15 years: 216,000 CAD

From 15 to 20 years: 228,000 CAD

From 20 years upward: 248,000CAD

And based on education level:

Certificate or Diploma: 108,000 CAD

Bachelor’s Degree: 171,000 CAD

Master’s Degree: 127,000 CAD

3. Business Analyst

Over time, business analysts have proven to be one of the leading in the world of finance and accounting. This can be attributed to the fact that huge businesses including startups are continuously planning their next major step depending on the present economic situation of the country, and the world in general, therefore, there is a constant need for a business analyst to help analyze those plans to ensure that they won’t be wasting their time and resources. 

Business analysts in Calgary boast of the highest average salary which is roughly $115,900. However, in the year 2021, the average salary increased to 154,000 CAD

For the level of work experience you have, the salary range is below:

From 0 to 2 years: 76,600 CAD

From 2 to 5 years: 100,000 CAD

From 5 to 10 years: 140,000 CAD

From 10 to 15 years: 168,000 CAD

From 15 to 20 years: 183,000 CAD

From 20 years upward: 197,000CAD

And based on education level:

High School: 117,000 CAD

Certificate or Diploma: 132,000 CAD

Bachelor’s Degree: 174,000 CAD

Master’s Degree: 216,000 CAD

4. Senior Financial Advisor

Every employer depends on senior financial advisors to take care of their present and future financial needs. This can be made possible by presenting plans that solve the problems, risk tolerance, issues, and goals of the company.

A senior advisor in Canada earns between $60,000 to $80,000 annually. 

5. Financial Advisor

Their job description is to help clients in making the best decisions concerning their finances or investments.

For the level of work experience you have, the salary range is below:

From 0 to 2 years: 100,000 CAD

From 2 to 5 years: 127,000 CAD

From 5 to 10 years: 167,000 CAD

From 10 to 15 years: 196,000 CAD

From 15 to 20 years: 217,000 CAD

From 20 years upward: 231,000CAD

And based on education level:

High School: 122,000 CAD

Certificate or Diploma: 137,000 CAD

Bachelor’s Degree: 181,000 CAD

Master’s Degree: 224,000 CAD

6. Financial Controller

Talking about the second-highest-paid finance job in Canada, then you should be referring to the financial controller.

A controller is in charge of significant accounting operations that keep a business running such as a ledger management, accounts payable, and receivable, and general business accounting.

For the level of work experience you have, the salary range is below:

From 0 to 2 years: 75,900 CAD

From 2 to 5 years: 97,600 CAD

From 5 to 10 years: 135,000 CAD

From 10 to 15 years: 167,000 CAD

From 15 to 20 years: 179,000 CAD

From 20 years upward: 191,000CAD

And based on education level:

High School: 97,600

Certificate or Diploma: 140,000 CAD

Bachelor’s Degree: 193,000 CAD

7. Tax Accountant

A tax accountant shares some similarities with an accountant in terms of their functions, amongst all, their major specialization is managing business taxes.

For the level of work experience you have, the salary range is below:

From 0 to 2 years: 71,300 CAD

From 2 to 5 years: 93,100 CAD

From 5 to 10 years: 130,000 CAD

From 10 to 15 years: 157,000 CAD

From 15 to 20 years: 170,000 CAD

From 20 years upward: 184,000CAD

And based on education level:

High School: 85,400

Certificate or Diploma: 98,300 CAD

Bachelor’s Degree: 138,000 CAD

Master’s Degree: 178,000 CAD

8. Payroll Clerk

This particular one focuses on a company’s internal payroll which means that they are responsible for employees’ monthly payroll in a company.

Also, a payroll clerk can be employed as well and he/she will be responsible for benefits administration or solving queries from employees connected to payroll.

For the level of work experience you have, the salary range is below:

From 0 to 2 years:65,300 CAD

From 2 to 5 years: 800,100 CAD

From 5 to 10 years: 144,o00 CAD

From 10 to 15 years: 133,000 CAD

From 15 to 20 years: 146,000 CAD

From 20 years upward: 154,000CAD

And based on education level:

High School: 79,100

Certificate or Diploma: 87,700 CAD

Bachelor’s Degree: 117,000 CAD

Master’s Degree: 154,000 CAD

9. An Accountant

Accountants are a very integral part of a business because they assist in keeping track of a company’s money with comprehensive records.

Your salary depends on your work experience and educational qualification. 

And based on education level:

High school: 56,300 CAD

Certificate or Diploma: 65,100 CAD

Bachelor’s Degree: 95,000 CAD

Master’s Degree: 117,000 CAD

10. Finance Intern

As a newcomer, another way to go about this is to take up accounting and finance internship positions in Canada. By so doing, you will gain experience that will help you in your career in the nearest future. 

What Basic Requirements and Skills Do I Need to Get Accounting and Finance Jobs in Canada?

You must have the skills below if you must get accounting and finance jobs in Canada:

  • Substantial knowledge of how to use Excel
  • Adequate knowledge in the area of international financial reporting standards (IFRS)
  • Anti-money laundering (AML)
  • Public accounting
  • Adequate  knowledge of Generally Accepted Accounting Principles (GAAP)
  • An added advantage is Bilingual french ability.

Aside from the aforementioned skills, the certifications below will be an advantage to you and can help you secure a finance job in Canada faster, as a newcomer:

  • Chartered Professional Accountant (CPA)
  • Certified Internal Auditor (CIA)
  • Canadian Securities Course
  • Certified Management Accountant (CMA)
  • Canadian Payroll Association Certification
  • Chartered Financial Analyst (CFA)

Finally, you can see that the future is promising if you desire to pursue your career in Accounting and Finance in Canada. With the information available to you, you now know what to expect as regards your salary as a newcomer if you succeed in getting the job.

Please kindly take the certifications seriously as they will improve your chances of getting the job. As you pursue your career, we wish you the best.

About the author

Laura

2 Comments

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