Job prospects Financial Accountant in Ontario

Explore current and future job prospects for people working as a "financial accountant" in Ontario or across Canada.

Job opportunities in Ontario

These outlooks were updated on November 29, 2023.

Prospects over the next 3 years

The employment outlook will be very good for Financial auditors and accountants (NOC 11100) in Ontario for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment growth will lead to several new positions.
• Several positions will become available due to retirements.
• There are a small number of unemployed workers with recent experience in this occupation.

What Types of Employers Are Out There?

• Employed in all major industry categories, with the leading share in accounting, tax preparation, bookkeeping and payroll services
• Finance and insurance companies such as banks

What are the Main Trends Affecting Employment?

• Ongoing need for accounting and auditing services across businesses and departments should lead to relatively stable job prospects
• Need for financial decision making and regulatory oversight
• Increased demand during the federal tax-filing season, though the availability of online accounting software may temper overall work

What Skills Do I Need to Succeed?

• In addition to formal education in accounting or a related discipline, there are several professional designations associated with this occupational group
• Chartered Professional Accountants of Ontario is the regulatory body for Chartered Professional Accountants (CPAs).

Here are some key facts about Financial auditors and accountants in Ontario:

• Approximately 97,900 people work in this occupation.
• Financial auditors and accountants mainly work in the following sectors:
  • Accounting, tax preparation, bookkeeping and payroll services (NAICS 5412): 35%
  • Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 10%
  • Federal government public administration (NAICS 911): 6%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 93% compared to 81% for all occupations
  • Part-time workers: 7% compared to 19% for all occupations
• 79% of financial auditors and accountants work all year, while 21% work only part of the year, compared to 63% and 37% respectively among all occupations. Those who worked only part of the year did so for an average of 47 weeks compared to 43 weeks for all occupations.
• 16% of financial auditors and accountants are self-employed compared to an average of 15% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 47% compared to 52% for all occupations
  • Women: 53% compared to 48% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: less than 5% compared to 9% for all occupations
  • high school diploma or equivalent: less than 5% compared to 25% for all occupations
  • apprenticeship or trades certificate or diploma: less than 5% compared to 8% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 14% compared to 22% for all occupations
  • bachelor's degree: 55% compared to 24% for all occupations
  • university certificate, degree or diploma above bachelor level: 27% compared to 13% for all occupations

Breakdown by region

Explore job prospects in Ontario by economic region.

Source Labour Market Information | Prospects Methodology

Labour market conditions over the next 10 years

Explore current and future job prospects for people working as a "financial accountant" Financial auditors and accountants (NOC 11100) or across Canada.

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