masiosare

Guys

Anybody has any succesful story regarding getting a job in finance? Any province, anywhere!

I have a job in internal audit here in Canada, but would love to move to financial analyst job in the future

Do you need any CMA or CGA qualification to get a job as a financial analyst?, most of the jobs say prefered (not a must)

If you've found a job in finance, is it well paid?

Have you found easy to get your CMA certification, have your degree been recognized and easily converted in order to start with the CMA program?

Any story would be appreciated, I'm in Montreal, so feel free to ask anything if you have a question, I'll be more than happy to share my canadian experience

montreal mike

Seems to me a University degree is basic. Bare bones. But an accounting degree is a must. How the hell can one hope to become even a mediocre financial analyst without the necessary skills?

A CMA is a good fit but a CGA is also commendable.

I spent some twenty years in Internal Audit also in Montreal. Many firms use their IA dept. as a springboard for transfer to financial analyst positions. Is this not so in your case?

As far as pay is concerned some people think 30K is great while others figure 45-50K is well paid. It all depends on the company, your knowledge, work experience, designation or lack thereof, and responsibilities assumed.

Rob_999

I agree with Mike. An accounting designation will certainly help, dosen't have to be from Canada though. Without a designation you better have excellent experience, or be going for an internal transfer.

Finance is a pretty broad term. All depends on experience. For me personally, yes I've found that I earn similar to what I did in London.

I'm an ACA (qualified in the UK), every employer I've spoken with recognises the designation, so I've not had to sit conversion exams to become a CA.

masiosare

I have an university degree in accounting & finance non-canadian however, but have some good financial analysis experience abroad, I agree, you definitely need good experience or knowledge, not sure if a designation, but I'm researching and maybe will go for the CMA, not sure yet

In my case the company uses the internal audit department as a transfer out to other areas, depends on experience though, some go to management, some to senior analyst positions, some go to other companies (which is not the most desirable thing for the company though!), however they put emphasis and encourage to get designations, mainly CIA (Certified Internal Auditor), that's why I'm a little bit confused about the designation stuff

I don't think 30K is great, but I believe some graduates start at a similar wage, anyway, I think that money just comes up with time and experience, professional wages in Canada usually allow you to live confortably...

Rob it's great that your wage is similar to what you've earned in London, I personally was intending to move there, but I found the cost of living quite high (more than twice the cost of living of Montreal, specially on rent!) I'm not sure if salaries compensate, but I believe you may better off in Canada in terms of standard of living

Is the cost of living similar in Vancouver? Do you think you are better off financially there than in London?

Glad to hear they recognize your studies in the UK, I've heard really horrible stories of immigrants doing dead end jobs and stuff because of experience and qualifications worth nothing, however I was contacted by companies interested in my background even before coming here, and finding a job didn't seem that hard for me anyway

montreal mike

If you want to spend many moons in Internal Audit then go get yourself a CIA designation. But this is practically useless outside of Internal Audit.

Since you are intent on moving out of IA then get yourself a CMA. It carries more weight. However the CGA designation is also respectable. Get both if you can!

JAJ

Most non-Canadian designations, other than US CPA or CMA, or one of the major CA designations, are not well recognised by Canadian employers.

Long term it would make sense for you to make the effort to become a Canadian CA as well. Not every UK-trained CA can convert though, especially those who have not trained in public practice.

betterskierthanthewife

Can some please just explain what CMA and CGA stand for exactly? Thanks

JAJ

CMA = Certified Management Accountant
CGA = Certified General Accountant

Mountain Girl

Take a look at www.monster.ca they have a salary calculator based on years of experience and province. I think the salary can vary greatly depending on where you work.

Rob_999

All ACAs can convert (you have to have trained in practice to get an ACA), it's just a matter of sitting the conversion exam. If you work in practice, you have no choice but to convert. For those of us who work in industry there's no requirement.

Here in Vancouver every major employer I've spoken to recognises the ACA designation. I've had no problem finding work (and nor has my wife, whos also an ACA). I've now got nearly 2 yrs Canadian experience at controller level & above, so really don't see the point in converting.

Besides, everythings moving towards International Financial Standards anyway, so having international experience can be a big benefit.

JAJ

That's no longer true.

Since the 1980s quite a few CAs have qualified through Training Outside Public Practice schemes, eg this page from the Scottish CAs:
http://www.icas.org.uk/site/cms/cont...sp?article=877

Ironically, the only major country left that has kept CA training exclusively in public practice is Canada - but even the Canadian CAs are planning to change this.

You may well be correct that the major CA designations (eg English, Scottish, Irish, Australian, New Zealand) are recognised by Canadian employers.

However other qualifications, eg ACCA, CIMA etc don't necessarily travel so well.

Converting would most likely earn you CPD credits and if you ask your employer nicely, you might not even have to pay the cost. As to whether it would benefit you or not, it's your call, but there might some day come a point where being a Canadian CA might open a door for you that would otherwise be closed. If nothing else, you'll be able to use the "CA" designation on your business card.

montreal mike

Friend of mine is also a CA but an English one. Never bothered with the Canadian exam. But he can't put CA on his business card since it is not a 'home made' one. Yet he contends his British CA is every bit as good as the Canadian one.

JAJ

It is. But he has to become a Canadian CA if he wants to use the designation in Canada.

In fact, in Canada the use of the CA designation is provincially regulated. So an Ontario CA may have problems using the "CA" letters in Alberta for example, unless he or she joins the Alberta CA Institute (which is normally straightforward for out-of-province CAs).

MissyDan

If one is in the UK, with an Accounting Degree, ACCA and CGA.

What is the best way to get a job in Finance in BC to as to help one's skilled worker application move along quicker.

Anytips with websites or companies would be greatly appreciated. I am flexible with regards to Financial or Management Accounting

Judy in Calgary

http://www.financejobs.ca/

How was I able to tell you that when I know nothing about finance? Because I used the BE Wiki on Finding Job Opportunities in Canada, and from there I clicked on the link to Specialty Job Sites.

There are other ways of finding potential employers, e.g., looking up the Canadian Company Capabilities website, and finding out the names of the corporate players in a given field and in a given region. After having researched those companies, so that you understand what their needs are and figure out how you can fulfill their needs, you pick up the phone and talk to them. That is the start of your Networking process.

I could go on, but instead of doing that I'll just point you to the Wiki articles on Job Hunting in Canada. I strongly recommend that you read all the articles in the series.