0111-NOC

Financial managers

(NOC 0111)
High opportunity occupation High opportunity occupation
Annual Earnings
$104,280
Typical Education Background
Degree
Job Openings
(2022-2032)
5,070

Career Overview

Financial managers plan, manage and evaluate the operations of financial and accounting departments. They put in place the financial policies and systems for a company and make sure they run well. People in this job work in private, not-for-profit and public sector organizations.

Duties

In general, financial managers:

  • Prepare a range of financial reports, including trends, statements, summaries and cost/benefit analyses to senior management
  • Co-ordinate a company’s financial planning and budget process
  • Analyze and adjust the spending and income estimates
  • Supervise others in developing and implementing financial simulation models
  • Review the company’s financial reporting systems, accounting procedures, and investment activities
  • Recommend procedure and system changes to senior managers and other department or regional managers
  • Recruit, train and manage staff
  • Communicate and engage with shareholders, investors and external financial analysts
  • Set profitability standards for investment activities
  • Assist in mergers and acquisitions

Earnings

Earnings is income that workers receive in exchange for their labour. Depending on the type of employment, earnings can be in the form of wages (hourly), salaries (fixed monthly or annual) or self-employed earnings.

Annual Earnings

$104,280

Provincial Hourly Rate

High$76.92/hr
Median$50.00/hr
Low$32.00/hr
Source: B.C. Labour Market Information Office, derived from 2022 Job Bank Wage data

Work Environment

# Workers Employed

8,600

% Employed Full Time

72%
Source: 2016 Census

Financial managers work in office environments within the public sector, for-profit businesses and not-for-profit organizations. Widespread use of technology means that some financial managers can work from a home office and go into their company’s office for specific meetings and events.

Financial managers generally work regular business hours. In some cases, they may need to work evenings and weekends during busy times such as during budget preparations, tax season, audit, or for other financial projects.

Career Pathways

Most people in this job become senior managers after five to 10 years of work experience in management or assistant management roles, depending on the difficulty of work and size of the business.

With additional experience or education, financial managers can advance to senior management positions, such as senior financial manager, director of finance, vice-president of finance or chief financial officer.

Occupational Interests

It’s important to understand what kinds of occupations align with your interests.

For more about occupational interests visit Skills for the Future Workforce > Characteristics.

Here are the top occupational interest(s) for this career profile:

Enterprising
Enterprising
Conventional
Conventional

Job Titles

Assigned public accountants chief
Assistant treasurer - finances
Chief, independent public accountants
Chief, revenue accounting & controls
Collections department manager
Comptroller
Controller - financial services
Co-ordinator, financial resources service
Corporate controller
Director, financial services
Manager, financial planning
Regional controller
Treasurer

Education, Training and Skills

A financial manager should have a bachelor's degree in business administration, economics, commerce, accounting or a related field. They may also need several years of experience in accounting, auditing, budgeting, financial planning, financial analysis or other financial activities. In addition, a master's degree in a management program or in business administration (MBA) with a concentration in finance would be an asset. For some positions, a Chartered Professional Accountant (CPA) designation may be required, especially if the person wants to be promoted to a more senior role.

Education programs in B.C.

The following program areas are related to this occupation:

  • Accounting
  • Finance
  • Economics (Arts)
  • Economics (Science)
  • Economics
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Find out more information about programs offered specifically for this career.

Skills

Every job calls for a certain set of skills. Knowing those skills is the first step in finding a good career fit.

Here, you will find the 10 most relevant workplace skills. Some are more important to achieving success in a certain career than others. These skills may come naturally to you or you may need to gain them through education, training and experience.

See the list of work-related skills below, ranked in order of importance for this career. Check out the list and see if this career matches your skills—take that first step!

Critical Thinking

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

77%
Judgment and Decision-Making

Considering the relative costs and benefits of potential actions to choose the most appropriate one.

75%
Reading Comprehension

Understanding written sentences and paragraphs in work-related documents.

75%
Speaking

Talking to others to share information effectively.

75%
Active Listening

Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

74%
Complex Problem Solving

Being able to solve novel, ill-defined problems in complex, real-world settings.

72%
Monitoring

Keeping track of and assessing your performance, other individuals, or organizations to make improvements or take corrective action.

70%
Active Learning

Understanding how new information could be used to solve current and future problems in making decisions.

69%
Writing

Communicating effectively in writing as appropriate for the needs of the audience.

69%
Coordination

Adjusting actions in relation to others' actions.

69%

Labour Market Statistics

Discover data, facts and information that have been gathered and analyzed. Learn about the characteristics of the economy and labour market in B.C.

Employment

Find out about employment types and trends by region and industry.

Employment

8,600
Source: 2016 Census

Employment by Region

Map of BC Map of Cariboo region Map of Kootenay region Map of Mainland/Southwest region Map of North Coast and Nechako region Map of Northeast region Map of Thompson-Okanagan region Map of Vancouver Island/Coast region
Cariboo
Kootenay
Mainland/Southwest
North Coast and Nechako
Northeast
Thompson-Okanagan
Vancouver Island/Coast
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Region Employment (2022) % Employment of this Occupation
Cariboo 240 2.3%
Kootenay 190 1.9%
Mainland/Southwest 7,120 70.5%
North Coast and Nechako 90 1.0%
Northeast 110 1.0%
Thompson-Okanagan 890 8.5%
Vancouver Island/Coast 1,480 14.7%
Source: 2016 Census and B.C. Labour Market Outlook

Labour Market Outlook

The B.C. Labour Market Outlook is a 10-year forecast of the expected supply and demand for labour in the province. It’s usually updated every year. The purpose is to provide British Columbians with the knowledge to make informed decisions on careers, skills training, education and hiring.

Forecasted Job Openings (2022-2032)

5,070
Source: B.C. Labour Market Outlook

Forecasted Job Openings

Forecasted Employment Growth Rate

Composition of Job Openings

Source: B.C. Labour Market Outlook

Job Openings by Region (2022-2032)

Map of BC Map of Cariboo region Map of Kootenay region Map of Mainland/Southwest region Map of North Coast and Nechako region Map of Northeast region Map of Thompson-Okanagan region Map of Vancouver Island/Coast region
Cariboo
Kootenay
Mainland/Southwest
North Coast and Nechako
Northeast
Thompson-Okanagan
Vancouver Island/Coast
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Region Job Openings Avg. Annual Employment Growth
Cariboo 100 0.4%
Kootenay 100 1.0%
Mainland/Southwest 3,460 1.2%
North Coast and Nechako 10 1.1%
Northeast 40 0.9%
Thompson-Okanagan 490 1.3%
Vancouver Island/Coast 840 1.3%
Source: B.C. Labour Market Outlook

Industry Highlights

Learn about the opportunities in B.C.'s major industries, including employment trends, earning potential, locations of work and more.

Forecasted Job Openings by Industry

IndustryJob Openings (2022-2032)
Finance, insurance and real estate50,900
Professional, Scientific and Technical Services148,000
Retail Trade115,500
Public Administration49,200
Manufacturing49,200
For additional industry information, visit the Industry Profiles page.
Source: 2016 Census and B.C. Labour Market Outlook

Insights from Industry

In addition to having excellent financial skills, good communication and people skills are equally important. A financial manager may be called to speak to people throughout the company from the most junior employee to the chief executive officer, and they need to do that in a way that makes people feel comfortable. Financial managers frequently make presentations to a board of directors, to investors or at conferences. They may also be required to attend networking events with senior executives.

Resources