Careers in finance are some of the most popular in the world because money is everywhere. Money is used by nearly every individual and organization in the world on a daily basis, whether it is being exchanged, stored, invested, or monitored. Money makes news headlines every day: the fluctuations in interest rates, the stock market, and affordability are always top of mind. In a world where so much hinges on the state of our finances, it is no surprise that there is always a need for people with knowledge and expertise in the topic.
Is Finance a Good Career Path?
Students that are considering a career in Business or Finance can feel secure in knowing that they knowledge and credentials they acquire in their programs will be valued. You are starting an academic pathway that can lead to a broad range of learning and career opportunities.
However, getting started can feel intimidating - business and finance are broad, vast areas of study. The good news is that you can definitely find an area that suits your interests and goals in the field. You may see yourself as a high powered corporate executive on Bay street in 20 years, an entrepreneur with a service or product you have dreamed of launching, or maybe even a trader on the floor making deals on Wall Street. Perhaps you want to be more involved in an organization like a hospital, university, or government agency, supporting institutions that serve the community or society at large. Not sure what you want to do with your finance career? You will certainly have plenty of options.
This article is all about exploring some of the career paths you can take with a background in finance. Keep in mind that the finance industry is constantly evolving and innovating - this is just a handful of the options you can explore! We will then outline the best learning options for finance students in Canada.
Finance professionals need a unique skill set for success. Find out what it takes to work in the Canadian finance sector.
Different Types of Finance Careers in Canada
There are dozens of different types of careers you can pursue in finance, with many new roles coming up every day as the economy develops. For example, the growth of bitcoin has resulted in many new cryptocurrency related jobs. Here are just a few of the most common jobs you will encounter in finance.
Corporate Finance
Corporate finance professionals handle the finances of companies or organizations. You might work in financial planning and analysis, developing and growing the business through mergers and acquisitions, or working in the area of investing. To pursue this pathway, you will need a bachelor's degree in commerce, finance, or business.
Financial Planning and Analysis
As a financial planner or analyst, you will be working with individuals and organizations to help them forecast their finances so they can make sound budgeting decisions in the future. In addition to a related undergraduate degree, you may also require certifications and designations like the Certified Financial Planner (CFP). You can also find courses on financial planning in continuing education schools or colleges.
Controller
A controller has the responsibility of preparing financial statements and reports that forecast and summarize a business's financial position. They are also involved in policy and procedure development for an organization's budget, cash flow and credit, and accounting.
What kind of academic background and professional experience will you need to navigate a successful finance career in Canada? Learn more.
Chief Financial Officer
A Chief Financial Officer, or CFO, takes responsibility for overseeing all financial activities for a company. They report how a company is performing financially and aim at securing the fiscal health of the organization. To become a CFO, one would typically have a bachelor's or masters degree in business administration or finance, and have extensive experience as a controller or treasurer.
What is the Best Corporate Finance Course in Canada?
Canada is a country with many world class universities and business schools. In most universities, you can work toward a bachelors degree in areas like finance, accounting, marketing, or commerce, and apply for a Master's in Business Administration (MBA) or a similar program in the university's business school. Many students will choose to work in their chosen fields prior to applying for an MBA program as they are eager to network and get 'real-world' experience under their belts before achieving the next level of education. Another advantage of entering the workforce prior to graduate school is that some companies will fund your graduate studies, as they can cost tens of thousands in tuition.
You can find strong corporate finance courses in the following institutions.
- Ivey School of Business, University of Western Ontario
- Rotman School of Business, University of Toronto
- Schulich School of Business, York University
- HEC Montreal, Universite de Montreal
- John Molson School of Business, Concordia University
- Desautels Faculty of Management, McGill University
- Alberta School of Business, University of Alberta
- Sobey's School of Business, St. Mary's University
- Lang School of Business, University of Guelph
Types of Finance Courses
Finance courses will vary by university and program. Here are a few main categories of the finance courses you might encounter and what you can expect in each.
Investing Course
Investing courses will provide you with a solid understanding of the terminology, processes, products, and best practices for working in the area of investment. Investing is all about committing money for the purpose of earning a return. Professionals that work in this field can be responsible for millions of dollars in assets, so it is critical to have the right training and experience so you can do this work while taking the appropriate amount of risk. Topics include derivative securities, investment and portfolio management, private equity, capital markets, value investing strategies and analysis, and sustainable investing.
Financial Management Course
Financial management encompasses business decision making, reporting, and financial planning. In this course, you can expect to learn about the functions of financial management, short and long term planning, capital markets, risk management, return on investment, valuation of assets, capital, and budgeting.
What kind of salary can you expect to make as a finance major? The answer might surprise you.
Personal Finance Course
Personal finance courses are concerned with managing your own finances or that of individual households. Taking a course like this can be incredibly useful both professionally and personally. You may learn about household budgeting, real estate, lines of credit, products like RRSPs and RESPs, and how to plan for your family's future.
Interested in starting a career in finance? Find out what it takes to work in the financial sector in Canada.
Where Can I find a Tutor for my Finance Courses?
You may be feeling intimidated by the amount of learning involved in taking finance courses. After all, these topics are seldom learned in any detail in secondary school, so you may find yourself overwhelmed with learning an entirely new discourse of vocabulary, ideas, and philosophies. It's also important to note that mathematics also forms a core component of finance and business courses, which can add an extra layer of stress if you aren't as confident as you'd like to be with math and algebra.
And let's not forget how expensive business schools and universities can be. You will want to make the most out of your investment by getting as much learning as you can from your coursework. While it is always great to have a family member or mentor there to guide you, you may want to consider getting the help of a private tutor to help you maximize your learning.
A private finance and business tutor can help you navigate the challenging new jargon of business and clarify the complex array of financial tools and products. They can review new learning, provide feedback on projects, and help you practice for big presentations or assessments. While courses often offer a tutorial section, you may be sharing that session with 10-20 other students, so the one-to-one support a tutor can offer is highly valuable.
You can easily find a tutor for your learning on Superprof Canada. Superprof connects students and educators that have professional knowledge and experience in almost every field. You can browse through the profiles of prospective tutors, and contact them directly through the site to find out their rates and availability. You can meet your tutor virtually or safely in person, and start and complete your tutoring sessions whenever it makes sense for you.
Find your finance tutor on Superprof today!
It’s no secret that business professionals and executives spend years in training and getting the right work experience. Learn how many years it takes to get started in the Finance sector.
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