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Posted on December 24 2022

Canada Job Trends - Accountants, 2023

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By  Editor
Updated July 25 2023

Highlights:

  • Accountants in Canada are the in top 10 professionals sought in Canada.
  • They have 3 pathways to welcome immigrants.
  • The average income of accountants in Canada is 53,000 CAD per year.
  • Approximately, 80,000 accountants are needed in Canada.
  • Alberta pays the highest accountants in Canada with 53,000 CAD per year.

About Canada

Canada has increased its target for welcoming immigrants, according to the New Immigration Levels Plan 2023-2025.

Canada had planned to welcome 432,000 new migrants in 2022. The immigration targets for the Immigration Levels Plan 2023-2025 are given in the table below:

Immigration Levels Plan 2023-2025
Year No. of new immigrants
2023 82,880
2024 1,09,020
2025 1,14,000

Approximately 56% of the immigrants will welcomed through major immigration pathways. They are:

  • Express Entry
  • PNP or Provincial Nominee Program
  • TR2PR or Temporary to Permanent Residence stream

Job Trends in Canada, 2023

The job market of Canada is constantly evolving. It has many opportunities for legal sectors, STEM talent, and new technology.

The skills in-demand include accounting, budgeting, and quality control. In the light of re-opening after the pandemic, these skills have become vital to run a successful business.

The complete list of the popular job roles comprises:

  • Customer service representatives
  • Accountants
  • Scheduling specialists
  • Cleaning specialists
  • Sales representatives
  • Budgeting specialists
  • Repair and maintenance workers
  • Quality control specialists
  • Project management
  • Administrative assistants

The most in demand professions are customer service representatives, accountants, scheduling specialists, salespeople and individuals with budgeting skills.

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Accounting technicians and bookkeepers – 12200 TEER Code

As given above, accountants are one of the most sought after professionals in Canada. Accountants and bookkeepers update sets of books, records of accounts, assess the procedures to record financial transactions, and offer personal bookkeeping services. Accountants are employed in public as well as private sectors. They can also be self-employed.

The prospects for accountants in Canada are given in the table below:

Job Prospects for Accountants in Canada
Provinces/Territories Job Prospects
Alberta Good
British Columbia Good
Manitoba Good
New Brunswick Good
Newfoundland and Labrador Good
Northwest Territories Fair
Nova Scotia Good
Nunavut Good
Ontario Fair
Prince Edward Island Good
Quebec Fair
Saskatchewan Good
Yukon Territory Good

Accountants perform the following activities:

  • Keep records of financial transactions, set-up, balance, and maintain accounts by using manual and digital bookkeeping systems.
  • Post journal entries and verify accounts, prepare books for trial balance, keep general ledgers, and assemble financial statements
  • Calculate and arrange cheques for tax, utility , payrolls, and other bills
  • Finalize and submit form for tax remittance, pension contribution, workers' compensation, and other documents of government
  • Arrange tax returns and execute personal bookkeeping assisstance
  • Arrange financial, statistical, and accounting reports.

Prevailing Wages of Accountants in Canada

The average salary of an accountant in Canada is around 53,000 CAD per year.

Tha highest income of an accountant in Canada is approximately 74,000 CAD per year and the lowest inxome is around 41,000 CAD per year.

Income for accountants in various provinces/territories in Canada are given below:

Income of Accountants in Various Locations of Canada
Provinces/Territories Annual Income (in CAD)
Alberta 62,969
Saskatchewan 62,754
Quebec 62,500
Ontario 60,003
British Columbia 60,000
New Brunswick 58,013
Manitoba 55,000
Prince Edward Island 53,625
Nova Scotia 53,000

Eligibility Criteria for Accountants in Canada

The eligibility requirements for Accountants in Canada are given below:

  • A university degree
  • Completing a professional training program validated by a institute of chartered accountants of a province
  • Two years or thirty months of on-the-job training depending on the province
  • Membership of Institute of Chartered Accountants from a province after successfully completing the UFE or Uniform Evaluation.
  • Auditors need to be certified general accountants or management accountants.
  • Required experience as an accountant.
  • Auditors need to be approved by the Institute of Internal Auditors.
  • To be a trustee in proceedings of bankruptcy, accountants and auditors should have a licence as a trustee in bankruptcy.
  • Valid license by the territorial or provincial governing body is required for accountants and auditors performing public accounting.

Accountants - Number of vacancies in Canada

Currently, there are 552 job vacancies in Canada. The detailed information is given in the table below:

Job Vacancies for Accountants in Canada
Location Available Jobs
Alberta 38
British Columbia 56
Manitoba 4
New Brunswick 3
Newfoundland and Labrador 1
Northwest Territories 1
Nova Scotia 8
Ontario 118
Prince Edward Island 2
Québec 285
Saskatchewan 32
Yukon 4

For accountants and financial auditors in the period 2019 to 2028, new job openings created due to expansion and replacement demand will be 79,600. It is expected that 79,500 job vacancies would be filled by school leavers, mobility, and immigration.

How can Accountants migrate to Canada?

After the candidate has received qualification recognition from Canada, they are required to apply for a suitable immigration program of Canada.

Given below are few of the programs for accountants to migrate to Canada:

  • Express Entry
  • LMIA Work Visa
  • Atlantic Immigration Pilot Program

Detailed information about the pathways for accountants to migrate to Canada is given below:

  1. Express Entry

Express Entry is known to be the fastest option for Canada PR or permanent residency. It is an online system used by the government of Canada to assess and recruit candidates who wish to enter Canada and plan to stay and work as skilled workers.

Accountants with experience can benefit from the Express Entry program by submitting a history of their professional experience in accounting from the country of their origin.

  1. LMIA Work Visa

The LMIA or Labor Market Impact Assessment Work Visa is another way to enter Canada as an immigrant accountant.

If the candidate has been hired to work by an employer based in Canada, a positive LMIA certificate will be a proof for the Canadian  government that there is indded a need of a foreign worker for the job.

After the employer of Canada has applied for an LMIA, the candidate can then apply for a work permit.

  1. Atlantic Immigration Pilot Program

The candidate can also apply for Canada PR through the Atlantic Immigration Pilot Program. It is a program available for accountants who have received an employment offer from a certified employer and a customized settlement plan for themselves and their dependants.

Employers need not go through the process of receiving an LMIA certificate in this program. The available streams are given below:

  • AISP - Atlantic Intermediate-Skilled Program
  • AHSP - Atlantic High-Skilled Program
  • AIGP - Atlantic International Graduate Program

How Can Y-Axis helps HR Professional to immigrate to Canada?

For trusted counseling and guidance for immigration to Canada as HR Professionals, contact Y-Axis.

The following services are provided by Y-Axis for the best chances for immigration to Canada:

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

If you found this blog helpful, you may want to read:

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