Customer Services Representatives – Financial Institutions – NOC 6551 PR±
Number of People Who Work in this Industry
Median Income of People Working in this Occupation
of People Working in this Occupation
41.9% of the workforce has a secondary school diploma.
32.3% of the workforce has a College, CEGEP or non-university certificate or diploma.
Age of the Workforce
in this Occupation
22.2% of the workforce is age 20 to 24.
27.8% of the workforce is age 55 to 64.
90.3% of customer service representatives – financial institutions work in the Finance and Insurance sector.
The employment outlook in our region for 2017-2019 is fair. Employment decline will lead to the loss of some positions. Several positions will become available due to retirements. There are a small number of unemployed workers with recent experience in this occupation. High employee turnover in this occupation could lead to additional employment opportunities.
Projected growth rate in Ontario: 1.1%-2%
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 Customer Service Representatives – Financial Institutions in the Ottawa Economic Region is fair. The increasing use of automation in the financial services sector will continue to limit demand for this occupation. For instance, some of the services normally provided by customer service representatives have shifted from in-person assistance at the local branch to automated teller, telephone, and web-based services. Due to the entry-level nature of this position, the prevalence of part-time work, and relatively young workforce, most openings are expected to arise from staff turnover and promotion.
- Individuals who have strong communication and problem solving skills and who have the ability to multi-task are more likely to obtain a job. Willingness to do shift work has become a requirement since many financial institutions have increased their hours of operation, adding evening and weekend hours.
- For more information directly from local employers about this occupation, click on Finance, Insurance and Real Estate.