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Posted on December 28 2022

What are the job trends for Finance officers in Canada in 2023?

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By  Editor
Updated July 25 2023

Why work in Canada as a Finance Officer?

The financial services sector is one of the most important sectors in Canada. The job trends for finance officers in Canada show that. Here are a few reasons for you to choose to work as a finance officer in Canada:

  • Finance officers are among the most in-demand jobs in Canada.
  • There are more than 14,000 jobs vacant for financial officers and financial advisors in Canada.
  • Canadian provinces that have the highest demand for finance officers include Toronto, Quebec City, Montreal, Ottawa, Vancouver, and Winnipeg.
  • The average annual salary of a financial officer in Canada is around CAD 46,000.
  • The career path can lead you to positions like CFO. Skilled professionals are given the best offers in enterprises across Canada.

About Canada

Professionals across the world in a range of job sectors consider migrating to Canada to work and settle there. Here are the main reasons:

  • By imposing immigration rules that are fairly less complicated, it’s much easier to qualify to migrate to Canada as a professional.
  • The range of immigration and visa programs offered by Canada is diverse. You can choose to either move to Canada with a work visa or a PR visa under various immigration programs.
  • Immigrants can find many social benefit programs that offer great support to them and their families.
  • Canada has a large number of job opportunities for skilled workers in many areas of the economy. Qualified and skilled foreign workers are sought after in large numbers to fill vacancies open in the country.
  • The average monthly salary in Canada is around CAD55,000 as of October 2022. Skilled immigrants will always find employment for a high pay scale.
  • There are 185 countries to which Canadian passport holders can travel visa-free or with the facility of visa-on-arrival. If you have a long-time goal of becoming a citizen of Canada, this will be a great benefit you can have.
  • There are no restrictions as to the immigrant’s ethnicity, culture, language, or religion which makes it one of the most conducive environments to live and work.
  • The country is blessed with natural resources which contribute much to its economy and generates jobs too in sectors like mining and architecture.

Canada needs a large number of skilled workers for which the country is largely dependent on Canada immigration. The country has been setting huge targets for the annual number of immigrants to be invited to settle there. Here’s a snapshot of the number of immigrants Canada is determined to bring into the country through its numerous pathways and categories.

Immigrant Category 2023 2024 2025
Target Target Target
  Overall Planned Permanent Resident Admissions 465,000 485,000 500,000
Economic Federal High Skilled 82,880 109,020 114,000
Federal Economic Public Policies 25,000 - -
Federal Business 3,500 5,000 6,000
Economic Pilots: Caregivers; Agri-Food Pilot; Rural and Northern Immigration Pilot; Economic Mobility Pathways Project 8,500 12,125 14,750
Atlantic Immigration Program 8,500 11,500 14,500
Provincial Nominee Program 105,500 110,000 117,500
Total Economic 266,210 281,135 301,250
Family Spouses, Partners and Children 78,000 80,000 82,000
Parents and Grandparents 28,500 34,000 36,000
Total Family 106,500 114,000 118,000
Refugees and Protected Persons Protected Persons in Canada and Dependents Abroad 25,000 27,000 29,000
Resettled Refugees - Government-Assisted 23,550 21,115 15,250
Resettled Refugees - Privately Sponsored 27,505 27,750 28,250
Resettled Refugees - Blended Visa Office-Referred 250 250 250
Total Refugees and Protected Persons 76,305 76,115 72,750
Humanitarian & Compassionate and Other Total Humanitarian & Compassionate and Other 15,985 13,750 8,000

Job trends in Canada, 2023

Canada’s financial sector offers many job opportunities that include significant roles such as financial officers, advisors, and accountants. The range of salaries for jobs in the finance and accounting sector is from around $30,000 to above $100,000.

The NOC code for Finance Officers (Accounting technicians and bookkeepers) under NOC 2016 is 1131 and as per NOC 2021 (TEER system) is 12200.

Prevailing wages of Finance Officer in Canada

The average annual salary of finance officers in Canada in 2022 is approximately CAD46,000.

Eligibility criteria for Finance Officer

  • You must complete secondary school.
  • You must complete a college program in accounting, book-keeping, or a field related to finance or complete two years (first level) of a professional accounting program that’s recognized (e.g., Certified General Accounting, Chartered Accounting) or courses in accounting/bookkeeping with many years of experience as a financial/accounting clerk.

Finance Officer - Number of vacancies in Canada

Currently, there are more than 2,382 job vacancies in Canada for finance officers.

How can a Finance Officer migrate to Canada?

There are multiple immigration pathways for finance officers in Canada in 2023. Here are a few options:

Express Entry

Express Entry is the best option for professionally qualified and experienced finance officers to immigrate to Canada. To enter the Express Entry system and find a place among eligible candidates, you have to get ranked with a minimum point of 67 under the CRS (Comprehensive Ranking System).

The CRS score is determined by considering factors like your

  • Education
  • Age
  • Language ability in English/French
  • Work experience
  • The skills of your partner

The higher the CRS points you score, the better your chances are to be sent an ITA (Invitation to Apply) for a Canada PR visa. In response, you can apply for the visa within 60 working days of receiving the ITA.

To immigrate to Canada as a finance officer, you don’t need a job offer from Canada. However, having a job offer can increase your CRS points.

PNP (Provincial Nominee Program)

The PNP is another great way to take to migrate to Canada as a finance officer. Every Canadian province has a PNP immigration pathway of its own. PNP caters to the needs of a province to source suitable and skilled foreign workers to fill the job vacancies there.

If an immigration candidate interested in settling and working in a province has a profile in the Express Entry and gets nominated by the province, that candidate gets 600 extra CRS points (the score granted under Express Entry after assessments). These points become an advantage as the candidate will get a sure chance of getting invited for permanent residence through a federal immigration draw.

RNIP (Rural and Northern Immigration Pilot)

Under the RNIP, there are 11 communities that are currently participating in the program. RNIP is a pilot program designed to attract skilled foreign professionals including finance officers, who are in high demand in the region.

Under the RNIP, candidates will require a valid job offer issued by employers in one of the communities participating in the program. Only then can the candidates get the eligibility to lodge an application for a Canada PR visa via the RNIP.

AIP (Atlantic Immigration Program)

The AIP is an immigration pathway for skilled foreign workers to obtain Canada PR. It’s also available for international graduates who graduated from a recognized post-secondary institution situated in Atlantic Canada. They must be ready to live and work in one of four Atlantic provinces in Canada. These provinces are

  • Nova scotia
  • Prince Edward Island
  • New Brunswick
  • Newfoundland & Labrador

To qualify for this immigration program, you must procure a job offer from an employer in Atlantic Canada. The employer must genuinely be not able to find qualified candidates to fill the jobs with local workers.

How can Y-Axis help a finance officer to immigrate to Canada?

For trusted and globally reputed multiple services necessary for a potential immigrant wanting to move to Canada, visit Y-Axis. Professionals like finance officers wanting to move to Canada can seek our valuable services namely:

If you are willing to migrate to Canada, talk to Y-Axis, the leading immigration and career consultant in the UAE.

If you find this blog engaging, you may also like:

How can I get a job in Canada in 2023?

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