Banking, Credit and other Investment Managers – NOC 0122 PR

125

Number of People Who Work in this Industry

$76,222

Median Income of People Working in this Occupation

6.9%

Chance this Occupation Will Be Impacted by Technology in the Next Decade

96.2%

Participation Rate
Percentage of the number of people currently working in the occupation as compared to the total number of people within the occupation as of the week of
May 1 to May 7 2016

0.0%

Unemployment Rate
Percentage of people looking for work as compared to the total number of people in the occupation as of the week of May 1 to May 7, 2016, when the unemployment rate was 7.8% in SDG and 5.3% in PR.

Education

of People Working in this Occupation

36.0% of the workforce has a secondary school diploma.

44.0% of the workforce has a College, CEGEP or non-university certificate or diploma.

Age of the Workforce

in this Occupation

50.0% of the workforce is age 35 to 44.

30.8% of the workforce is age 45 to 54.

Sectors that Employ this Occupation

95.8% of banking, credit and other investment managers work in the Finance and Insurance sector.

Employment Outlook

The employment outlook in our region for 2017-2019 is fair. Employment is expected to remain relatively stable. Several positions will become available due to retirements. There are a moderate number of unemployed workers with recent experience in this occupation. Bilingualism may be an asset.

Projected growth rate in Ontario: 4.1%-5%

More Information

What Else Do I Need to Know?

  • The industry is comprised primarily of small businesses. 86.2% of businesses operating in Finance and Insurance businesses employ four people or less.
  • Employment Outlook for Banking, Credit and other Investment Managers in the Ottawa Economic Region is expected to be fair. Demand for this occupation is expected to remain stable supporting the positive performance of the financial services industry in Ontario. The majority of job openings are expected to be created by business expansions in banks, credit unions, sales financing, and mortgage companies, where the majority of these managers are employed. Over the past several years profits at these financial based companies have increased substantially. In the same period, major banks opened more than 200 new branches across the province, improving the employment possibilities for these managers. Investments in financial products are more sensitive to income growth; therefore over the next few years, expected gains in employment and greater stability in business conditions should improve the investment capacity of consumers and support demand for some of these managers.
  • The labour force of this occupation is large. Unemployment is returning to pre-recession levels. There is significant growth in new business entrants, particularly among companies specialising in securities, commodity contracts, and other financial investment services. These operations are the second largest employer of these professionals. However, increased online banking/investment services could slow demand in the mid- to long- term.
  • In addition to a relevant College or University qualification, individuals with extensive experience in the financial services industry and with a strong background in sales and client service will have more favourable job prospects. Depending on the type of financial service operation, employers may require recruits to hold a financial services certification, such as a Mutual Funds Licence, or to have completed the Canadian Securities Course.
  • To learn more from local employers, click on “Finance, Insurance, Real Estate”.