What financial analysts make
Median
$90,000
Lower end
$59,000
Upper end
$151,000
Job Bank's national median is $43.27 an hour, about $90,000 a year full time. Ontario's median is the same as the national figure. Bonuses are often paid on top.
Financial Analyst
Read the numbers behind a company or a deal and tell people what they mean. A degree, then years of exams.
- Typical pay
- $90,000a year
- Time to qualify
- 4 to 7 yearsafter high school
- Demand
- Moderate
- Licence needed
- Nono licence to hold
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Pay, the path, pros and cons and the facts on one printable page. Counsellors: send it to a student from your own email in one click.
Where to study to become a financial analyst in Canada
Programs in the fields this career usually comes through. Each has its own page: what it takes to get in, the courses you need and what it costs.
Universities
Colleges
- Bachelor of Commerce (Honours): Financial ServicesConestoga, 65% minimum average
- Business Management: Financial ServicesHumber, meet the course requirements
- Financial Services: Client ServicesSeneca, meet the course requirements
- Honours Bachelor of Commerce (Financial Services)George Brown, meet the course requirements
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Quick answers
How much does a financial analyst make in Canada?
The median pay is about $90,000 a year. Across everyone in the job it runs from about $59,000 at the lower end to about $151,000 at the upper end. The source is listed under Sources at the end of this page.
How long does it take to become a financial analyst in Canada?
4 to 7 years after high school, on the usual route.
What does it cost to become a financial analyst?
$32,000 to $54,000 all in for tuition, fees, exams and kit. Living costs are not counted.
Do you need a licence to work as a financial analyst in Canada?
No. There is no licence to hold, though many employers still ask for training or a certificate.
What is the job outlook for a financial analyst in Canada?
Moderate demand nationally, from government outlook data. Demand varies by region, so check your area.
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Financial Analyst salary in Canada
What you earn and what it costs to get there.
Starting pay in government
$66,950 a year
The first step for a financial officer (FI-1, the entry level of the federal Financial Management group) at the Canada Revenue Agency
From December 22, 2025, rising in yearly steps to $95,523. Banks and companies set their own starting pay and do not publish it.
Where pay is highest
$49.00 an hour
The median in Saskatchewan, about $102,000 a year, the highest of any province
Alberta is next at $45.27 and Quebec at $44.00. Nova Scotia is lowest at $34.87.
What it costs to get there
- Bachelor's degree (4 years)
- $8,000 to $12,000 a year in Ontario. Toronto Metropolitan University lists about $11,900 for 2026 to 2027
- CFA (Chartered Financial Analyst) program, 3 exams
- About US$3,500 to US$4,600 in total, from about US$1,140 an exam, plus study books
- Financial modelling courses
- A few hundred dollars each
- MBA (Master of Business Administration), optional
- Expensive and not required; many analysts skip it
Roughly, all in
$32,000 to $54,000
Tuition, fees, exams and kit. Not rent, food or travel
The low end is a four year bachelor's degree at the cheaper end of Ontario tuition, with your employer paying the exam fees once you are hired, which is common. The high end is a pricier program, for example Toronto Metropolitan University at about eleven thousand nine hundred dollars for 2026 to 2027, plus funding the CFA (Chartered Financial Analyst) program yourself. The three CFA exams are billed in US dollars, roughly US$3,500 to US$4,600 in total, so budget around six thousand Canadian dollars with study materials. An MBA (Master of Business Administration) is not required and most analysts skip it, so it is not counted.
Many employers pay the exam fees once you are hired, and give you study days before each sitting.
Benefits
Annual bonus
Standard at banks, investment firms and most corporate finance teams.
Pension
Defined-benefit plans in government and at some banks; matching contributions elsewhere.
Health and dental
Paid study leave
Days off before CFA (Chartered Financial Analyst) exams are common at large employers.
How to become a financial analyst in Canada
The exact path from high school to qualified.
The path to becoming a financial analyst, step by step
A business degree gets you in. Exams written while you work move you up.
- 1
High school
Grades 11 and 12
Math, accounting, business and economics. Grades matter because commerce programs are competitive.
- 2
Bachelor's degree
4 years
Commerce, finance, economics or accounting. Co-op programs at Waterloo, Laurier and Toronto Metropolitan University place you in banks before you graduate.
- 3
First job
1 to 2 years
Junior analyst, a bank rotational program, or an accounting role. Most people start in corporate finance or at a bank, not on a trading floor.
- 4
CFA (Chartered Financial Analyst) program
3 to 4 years
Three exams, about 300 hours of study each, written while you work. The charter also needs 4,000 hours of investment-related work over at least 36 months.
- 5
Senior analyst or manager
After 5 to 8 years
Lead models and reports, present to executives, or move into portfolio management.
High school courses that help you become a financial analyst
Advanced Functions and Calculus
Finance is applied math.
Accounting
You will read financial statements every day.
Economics or business
Shows interest and gets you comfortable with the vocabulary.
English
Your reports decide where millions of dollars go. They must be clear.
Time and money, at a glance
- Years after high school
- 4 for the degree, plus 3 to 4 more for the charter while working
- Admission average
- From a 70% minimum at some business schools to the low 90s at the most competitive, such as Queen's and Schulich
- Total tuition
- $32,000 to $48,000 for the degree
- Paid while training?
- Only during co-op terms and once you are hired
Not licensed, but the credential matters
Anyone can be called a financial analyst. No province licenses the job itself. The CFA (Chartered Financial Analyst) charter is the credential employers ask for; it is run by the CFA Institute and recognized around the world. If you move into managing client money or selling investments, you must register with your provincial securities regulator, and that is a different path (see investment advisor). Some provinces license portfolio managers separately.
Where people study
Ontario
Rotman Commerce (University of Toronto), Ivey (Western), Schulich (York), Laurier, Waterloo, Queen's.
Quebec
McGill, Concordia, Université de Montréal's business school.
BC (British Columbia) and Alberta
Sauder at UBC (University of British Columbia), Beedie at SFU (Simon Fraser University), Haskayne at Calgary, University of Alberta.
Atlantic Canada
Dalhousie, Saint Mary's, University of New Brunswick.
Quebec route. In Quebec? The route is different. 1 more card.
The path in Quebec
In Quebec you take 2 years at CEGEP (public college) before university, so a commerce degree takes about 3 years. The CFA (Chartered Financial Analyst) exams are the same everywhere.
- 1
Finish Secondary V
Age 16 or 17
Take Secondary V math in the TS (Technical and Scientific) or SN (Science) sequence. It opens the math profile at CEGEP that business schools want.
- 2
DEC (Diploma of College Studies)
2 years
A 2 year Social Science program with Calculus I and Linear Algebra, which Concordia's business school requires. Students from a 3 year business technical program can skip those courses with 75% in Secondary V math.
- 3
Bachelor of Commerce in finance
3 years
About 90 credits after CEGEP. Concordia's John Molson School of Business offers a finance major in English, and other Quebec universities have their own.
- 4
First job and the CFA (Chartered Financial Analyst) exams
3 to 4 years
The same as in the rest of Canada: three exams written while you work, plus 4,000 hours of investment work for the charter.
What helps you get ahead as a financial analyst
Things you don't need, but that help.
Credentials that open doors
CFA (Chartered Financial Analyst) charter
The big one for investments and research.
CPA (Chartered Professional Accountant)
Preferred for corporate finance, budgeting and controller roles.
FRM (Financial Risk Manager)
For risk teams at banks and insurers.
CBV (Chartered Business Valuator)
For valuing companies in deals and disputes.
Nice-to-haves
Excel and financial modelling
Build a three-statement model before your first interview.
Python or SQL (structured query language)
Analysts who can pull and clean data stand out.
Co-op or a summer at a bank
Most full-time offers go to former co-op students.
Investment club or case competitions
Practice pitching a stock or a deal to a room.
Side path: investment banking
Analysts at investment banks on Bay Street help companies raise money and buy other companies. Very long weeks are normal and many analysts leave after 2 or 3 years for private equity, a company finance team, or a quieter life. Hiring is done almost entirely from co-op and summer internships.
What being a financial analyst is really like
Day to day, pros and cons, where you'd work.
What a financial analyst does day to day
Morning: update a model with yesterday's numbers, read market news, answer questions from a manager. Midday: build a forecast, check a budget against actual spending, or research a company. Afternoon: put it into a deck or a report and present it. Month-end and quarter-end mean late nights closing the books or finishing reports. Corporate finance is calmer; investment firms and banks run faster.
The honest pros and cons of being a financial analyst
The good
- Good pay from the start: about $67,000 a year in federal government jobs
- Skills that transfer to any industry
- Clear ladder: analyst, senior, manager, director
- Hybrid and remote work are common
The hard parts
- Exams for years after you graduate
- Month-end and quarter-end crunches
- Junior work can be repetitive spreadsheet grinding
- Toronto and Calgary have most of the jobs
Work life
- Typical hours
- 40 to 50 a week, more at month-end and quarter-end
- Remote work
- Hybrid is common
- Physical demand
- Low
- Unionized
- No, except some government jobs
Similar paths
- Accountant (CPA)The money behind every business. A degree, a national exam, and a designation that travels.
- Investment BankerHelp companies raise money, buy other companies or sell themselves, for very high pay and very long weeks.
- Investment AdvisorBuy and sell stocks, bonds and funds for clients at a brokerage. Licensed, commission-heavy, and hard to start.
- Quantitative AnalystUse math, statistics and code to model markets and risk for a bank, a pension fund or a trading firm.
Things nobody tells you about being a financial analyst
Things people don't tell you.
The CFA (Chartered Financial Analyst) exams fail most people
In August 2026, 43% of Level I candidates passed, and the CFA Institute recommends about 300 hours of study for each level. Finishing all three usually takes 3 to 4 years.
Bay Street is Canada's Wall Street
The head offices of Canada's biggest banks sit within a few blocks of each other in downtown Toronto. A large share of the country's finance jobs are there, with Calgary second for energy finance and Montreal for pensions and funds.
Almost everyone gets benefits
Job Bank reports that 96.7% of people in the financial analyst group in Canada receive at least one non-wage benefit, such as health coverage or a pension.
How a financial analyst compares
Every list is built from the same numbers shown above, so you can see where this career sits next to the others.
More business and money careers in Canada
Money and finance first, then the rest of the field. See every career in business and money.
- ActuaryPut a price on risk for insurers and pension plans. Years of exams, but you are paid well while you write them.$106kTypical pay7 to 10 yearsTo qualifyLimitedDemand
- BookkeeperKeep a business's money records straight. Fast to learn, steady demand, and you can work for yourself.$58kTypical payup to 2 yearsTo qualifyGoodDemand
- EconomistStudy how money, prices and jobs move, then advise governments, banks and companies. Usually a master's degree.$100kTypical pay5 to 7 yearsTo qualifyModerateDemand
- Financial PlannerHelp people plan retirement, taxes, insurance and savings. Licences to sell, a credential to advise.$75kTypical pay4 to 7 yearsTo qualifyModerateDemand
- Hedge Fund ManagerRun investors' money, betting on markets rising or falling, and keep the job only while you make money.$90kTypical pay10 to 14 yearsTo qualifyModerateDemand
- Insurance AdjusterInvestigate claims after a crash, a flood or a fire and decide what the insurer pays. Hired and trained on the job.$73kTypical payup to 3 yearsTo qualifyModerateDemand
- Insurance BrokerHelp people and businesses buy home, car and business insurance from many companies. Licensed in months in most provinces, no degree needed.$62kTypical payup to 1 yearTo qualifyModerateDemand
- Mortgage BrokerFind people the right mortgage from dozens of lenders. A short course to get licensed, then your pay is commission.$66kTypical pay1 to 3 yearsTo qualifyModerateDemand
Read more about it
Where these numbers come from
- Job Bank: Financial analyst, wages (updated Nov 2025)
- Job Bank: Financial analyst, employment requirements
- CFA Institute: CFA Program
- CFA Institute: Level I results, August 2026
- Rotman Commerce, University of Toronto
- Toronto Metropolitan University: Business Management (tuition)
- Concordia John Molson School of Business: CEGEP admission requirements
- John Abbott College: Social Science with Mathematics
- Concordia: Accountancy BComm (program length for CEGEP graduates)
- Canada Revenue Agency: FI (Financial Management) pay rates
Last checked October 2026. Pay figures are typical full-time annual amounts in Canadian dollars, based on Government of Canada Job Bank wage data and published salary grids. They vary by province, employer and experience. Tuition is for domestic students. How every figure on this site is sourced and checked.