Hiring for Accounting & Finance in Canada.
The Finance & Accounting talent market remains robust and candidate-centric. Skilled talent shortages and intense competition persist as challenges for employers. Contract roles, particularly in specialized areas like audit, tax, and data analytics, are on the rise to address immediate skill gaps.
The scarcity of CPAs, especially those with public accounting experience, continues due to shifting career preferences among younger generations because of demanding work hours and comparatively lower starting salaries compared to other financial roles. This gap, more pronounced in junior to mid-management roles, is expected to widen as experienced CPAs retire.
Economic uncertainty has intensified competition for experienced professionals, influencing their job-seeking decisions and making them adept negotiators. To attract top talent, companies must offer competitive compensation, occasionally surpassing market standards, and flexible work arrangements.
As we approach 2024, a flexible approach to recruitment is vital. Considering candidates with globally recognized qualifications equivalent to CPAs, recognizing the value of international experience, and embracing virtual interviews are important. Partnering with specialized recruiters can provide access to passive candidates and valuable expertise. Prioritizing competitive compensation and benefits is essential for attracting and retaining F&A talent.
‘Can’t compete on pay and benefits’
is the main reason 31% of Accounting & Finance employers employers have missed out on hiring new talent in the last 6 months.
Our survey found these top 3 things to successfully attract and hire talent in Accounting & Finance:
- 1
Flexible working patterns
- 2
Offering career progression opportunities
- 3
Fast hiring process
In demand roles
- Director of Finance
- Controller
- Finance & Accounting Manager
- Senior Property/ Project Accountant
- Senior Financial Analyst
Valuable skill sets
- CPA (Especially in public accounting)
- CFA (Especially in capital markets)
- Financial Reporting
- Financial Planning & Analysis
- Data Analytics
Up, down or flat? The state of salaries.
In 2023, Finance & Accounting salaries surged due to inflation adjustments and strategic talent management efforts. As a result, many Canadian companies enhanced compensation to attract and retain top talent.
Looking to 2024, the market is set to cool slightly as Canada’s inflation rate drops below 3%, the lowest in over two years. While the pressure to raise wages is expected to ease compared to 2023, economists anticipate modest salary growth ranging from 3% to 5%.
of Accounting & Finance hiring managers expect salary offers will increase for certain roles in the next year.
Accounting & Finance salaries in Canada
| Job Title | Sector | Sub Sector | Location | |||
|---|---|---|---|---|---|---|
| Job Title | Sector | Sub Sector | Location | Low | Median | High |
Chief Financial Officer Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $180,000 | $290,000 | $400,000 |
Vice President of Finance Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $150,000 | $200,000 | $250,000 |
Senior Director of Finance/ Accounting Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $170,000 | $210,000 | $250,000 |
Director of Finance/ Accounting Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $140,000 | $170,000 | $200,000 |
Director of Financial Reporting Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $130,000 | $165,000 | $200,000 |
Corporate Controller Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $120,000 | $160,000 | $200,000 |
Assistant Controller Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $100,000 | $125,000 | $150,000 |
Senior Manager Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $130,000 | $155,000 | $180,000 |
Manager Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $100,000 | $125,000 | $150,000 |
Senior Financial Analyst Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $90,000 | $105,000 | $120,000 |
Senior Property/ Project Accountant Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $90,000 | $100,000 | $110,000 |
Senior Accountant Corporate Accounting Corporate Accounting |
Commercial Businesses | Corporate Accounting | Toronto | $85,000 | $92,500 | $100,000 |
Director of Financial Planning & Analysis Financial Planning & Analysis (FP&A) Financial Planning & Analysis (FP&A) |
Financial Services | Financial Planning & Analysis (FP&A) | Toronto | $150,000 | $200,000 | $250,000 |
Senior Manager, Financial Planning & Analysis Financial Planning & Analysis (FP&A) Financial Planning & Analysis (FP&A) |
Financial Services | Financial Planning & Analysis (FP&A) | Toronto | $130,000 | $155,000 | $180,000 |
Manager of Financial Planning & Analysis Financial Planning & Analysis (FP&A) Financial Planning & Analysis (FP&A) |
Financial Services | Financial Planning & Analysis (FP&A) | Toronto | $110,000 | $130,000 | $150,000 |
Senior Analyst, Financial Planning & Analysis Financial Planning & Analysis (FP&A) Financial Planning & Analysis (FP&A) |
Financial Services | Financial Planning & Analysis (FP&A) | Toronto | $90,000 | $102,500 | $115,000 |
Head of Tax Tax Tax |
Financial Services | Tax | Toronto | $150,000 | $175,000 | $200,000 |
Director of Tax Tax Tax |
Financial Services | Tax | Toronto | $130,000 | $155,000 | $180,000 |
Tax Manager Tax Tax |
Financial Services | Tax | Toronto | $100,000 | $120,000 | $140,000 |
Senior Tax Accountant Tax Tax |
Financial Services | Tax | Toronto | $90,000 | $105,000 | $120,000 |
Chief Compliance Officer Compliance Compliance |
Financial Services | Compliance | Toronto | $150,000 | $225,000 | $300,000 |
Director of Compliance Compliance Compliance |
Financial Services | Compliance | Toronto | $130,000 | $140,000 | $150,000 |
Compliance Officer Compliance Compliance |
Financial Services | Compliance | Toronto | $95,000 | $117,500 | $140,000 |
Senior Compliance Analyst Compliance Compliance |
Financial Services | Compliance | Toronto | $90,000 | $105,000 | $120,000 |
Download Your 2024 Accounting & Finance Salary Guide for Canada.
Permanent, temporary and contract salary data for a range of Accounting & Finance roles, as well as insights and advice to guide your talent strategies.
