Average Starting Salaries: Financial Services Edition 2013

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If you’re looking to hatch your career in financial services, you’ll soon realize that the job possibilities are endless: wealth management, financial advising, investment analysis and more await you!

When deciding which path to follow, one factor that may weigh into your decision is the given salaries for each position. As with many industries, the more time you spend working the more money you’re likely to make.

But what about entry-level salaries? Read on to learn what you could make when you’re first starting out in the financial services sector.

Financial Advisor

As the name suggests, a financial advisor advises their clients about all matters to do with finance.

They help their clients with general inquiries about financial planning and investments and can also address specific issues, such as pensions. To be a financial advisor, you should be a good communicator and enjoy working independently.

You’ll also have to be a savvy salesperson, as selling financial packages to your clients is a major part of the job.

Median salaries for financial advisors:

Vancouver, BC: $39,531 Calgary, AB: $43,510

Edmonton, AB: $42,282

Saskatoon, SK: $36,774

Regina, SK: $37,198

Winnipeg, MB: $36,679Toronto, ON: $38,683

Montreal, QC: $37,378

Quebec City, QC: $35,916

Halifax, NS: $36,006

Investment Analyst

Analysts gather information from different sources to create recommendations for investment action, which will typically be presented to a client at the end of a project.

Investment analysts will often be employed by firms, banks or companies to help them make advantageous investment decisions.

Here’s what entry-level investment analysts across Canada are making:

Vancouver, BC: $46,754 Calgary, AB: $52,079

Edmonton, AB: $49,370

Saskatoon, SK: $43,407

Regina, SK: $43,161

Winnipeg, MB: $39,762Toronto, ON: $48,357

Montreal, QC: $45,131

Quebec City, QC: $43,008

Halifax, NS: $40,019

Actuary

An actuary deals with the financial consequences of risk and uncertainty.

To determine these impacts, actuaries calculate the probability of events and make recommendations based on those probabilities to minimize impacts of financial losses.

A degree or certificate associated with becoming an actuary may be necessary as this line of work deals with large amounts of calculations.

What do actuaries actually make?

Vancouver, BC: $49,983 Calgary, AB: $53,850

Edmonton, AB: $50,274

Saskatoon, SK: $45,307

Regina, SK: $44,517

Winnipeg, MB: $43,660Toronto, ON: $53,644

Montreal, QC: $50,360

Quebec City, QC: $45,520

Halifax, NS: $42,733

Certified Financial Planner (CFP)

The CFP designation is a professional certification that shows that the candidate has met the requirements for working in the field of financial planning.

A financial planner gathers and analyzes data to create recommendations for the future of the client’s finances.The planner will also generally help with or fully implement the recommendations and then monitor their progress.

Earnings for CFPs across Canada:

Vancouver, BC: $50,722 Calgary, AB: $54,672

Edmonton, AB: $51,879

Saskatoon, SK: $48,342

Regina, SK: $46,651

Winnipeg, MB: $46,936Toronto, ON: $49,958

Montreal, QC: $47,694

Quebec City, QC: $46,318

Halifax, NS: $44,678

Ready to start your financial services career? Check out TalentEgg’s Financial Services Career Guide!

Photo credit: Valakirka

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