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Finance & accounting · Analyzing & Problem-solving

Financial analyst: what the job actually is

Studying a company's numbers and the markets around it, then writing down what they mean for a decision about money.

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Financial analyst: quick facts

Financial analyst salary in Ontario: the median pay is $43.27 an hour, according to Job Bank (reference period 2023-2024). Its three-year outlook in Ontario is limited. The job usually needs a university degree.

Median pay in Ontario
$43.27 an hour
Pay range (low to high)
$28.21 to $72.36 an hour
Job outlook, 2025-2027
Limited
People working in it in Ontario
46,000
Usually needs
Usually a university degree

Source: Job Bank wages (updated 19 November 2025) and job prospects (updated 10 December 2025), NOC 11101. Pay varies by region and experience.

The work

What this job actually is

  • Reading financial statements, building models in spreadsheets and writing recommendations: whether to invest, lend, buy a company or approve a budget.
  • Job Bank reports one pay figure and one outlook for the whole group of financial and investment analysts, not for each title inside it.
  • The group covers different jobs: inside a company, in a bank or an investment firm, or advising a client. They look similar from outside and feel very different day to day.
  • It is not a regulated title the way medicine is. Job Bank says the Chartered Financial Analyst designation is usually required for this group, so a credential from a professional body does the sorting instead.
  • Job Bank rates the Ontario outlook for this group as Limited, with employment growth leading to a few new positions and not many positions opening through retirements. This is a crowded door, so be honest about it when you plan.

A Tuesday

What a normal day looks like

Not a good day or a bad one. The ordinary version, which is what you would actually be living.

  1. 8:00 — Read what moved overnight: a company's results, a rate announcement, a change in a market you follow.
  2. 8:45 — Open the model you built last week and update it with the new numbers. Check whether the forecast still holds.
  3. 10:00 — Meeting. Somebody senior asks why one assumption is what it is. You have to defend it with a reason.
  4. 11:00 — Find the error in your spreadsheet. A formula copied one row too far, and every number after it is wrong.
  5. 12:30 — Lunch at the desk, reading a report.
  6. 13:15 — Write the page that explains the recommendation. The numbers are the easy part. The skill is writing something a busy person will act on.
  7. 15:00 — A call with a company's finance team about a number you cannot reconcile.
  8. 16:30 — Rework the page after your manager's comments. Then again.
  9. 18:00 — Done, or nearly. Deadlines around results and reports can push the day later.
  10. 19:00 — Finish the study session for a professional exam, if you are in that stage. Many people in this field study evenings and weekends for years.

Honestly

Who loves this, and who should not do it

The second list is the useful one. Nearly every careers page leaves it out, which is why nearly every careers page reads like an advert.

You may like this if
  • You like numbers and also like turning them into a sentence somebody can use.
  • You are comfortable with spreadsheets and with finding your own errors.
  • You can stay calm when you are asked to defend an assumption.
  • You are interested in how companies and markets work.
  • You can study for professional exams while working.
You may hate this if
  • You need a guaranteed route in. Job Bank rates the outlook as Limited, and few positions become available through retirements.
  • You dislike sitting at a screen for most of the day. It is a desk job and a long one.
  • You dislike exams. The CFA path has three exam levels, and people study around a full-time job.
  • You dislike being questioned on your work. A model is read by people looking for what is wrong with it.
  • You want to see something you built. The product is a number and a recommendation.

The route in

How you actually get there in Ontario

  1. Get a degree in a numbers-heavy field

    Job Bank says a bachelor's degree in commerce, business administration, accounting, finance or economics is required, and that an MBA with a finance concentration may be needed for some positions. Check ontariouniversitiesinfo.ca for programmes and their entry requirements.
  2. Get a first job, often through co-op or an internship

    We have not verified the numbers of co-op placements. Ask each university how its business and finance students find work terms, because experience before graduation is what separates applications.
  3. Work toward the CFA charter

    The CFA Institute's charter page says you complete all three exam levels plus practical skills modules, show at least 4,000 hours of relevant work experience over a minimum of 36 months, and become a member of the Institute. Job Bank says the CFA designation is usually required for this group. It is a professional credential, not an Ontario licence.

Where this comes from: Job Bank — Financial analyst requirements in Ontario · CFA Institute — CFA charter requirements · Ontario Universities' INFO — program search

The money

Financial analyst salary in Ontario

Job Bank's own figures, quoted rather than summarised, with the period they describe — so you can tell how old they are and go and check them.

$28.21
Low (hourly)
$43.27
Median (hourly)
$72.36
High (hourly)

Ontario, NOC 11101. Reference period 2023-2024, last updated by Job Bank on 19 November 2025. Wages vary a lot by region inside Ontario and by how long you have been doing it — the low figure is roughly where you start, not what the job is worth.

Source: Job Bank — Financial analyst wages in Ontario

Where it is heading

The outlook for the next three years

Job Bank publishes a three-year outlook for every job in every province. It is the closest thing to an honest forecast, and it moves, so read it as a weather report rather than a verdict.

Ontario, 2025-2027

Limited2 out of 5 stars

  • Employment growth will lead to a few new positions.
  • Not many positions will become available due to retirements.
  • There are a small number of unemployed workers with recent experience in this occupation.

What that rating means: how many openings Job Bank expects in Ontario for this kind of work against how many people are likely to be looking — not whether it is a good job. A “limited” rating means more competition for each opening; it does not close the door, and it can change before you are ready to walk through it.

46,000
people work in this job in Ontario
44%
are women (48% across all jobs)
6%
are self-employed (15% across all jobs)

Source: Job Bank — Financial and investment analysts job prospects in Ontario (NOC 11101). Outlook updated by Job Bank on 10 December 2025; read by us on 5 October 2026.

Before you leave school

Things you can do now

  • Take senior maths, including data management if you can, and an economics or business course. They are the language of this job.
  • Learn to build a basic budget or forecast in a spreadsheet. You can do it tonight and it is the real thing in small.
  • Join a school business or investment club, or start one. A pretend portfolio teaches you what you do not know.
  • Read one real company's annual report, not a news story about it, and write down what you think its biggest risk is.

Test it

Do this before you decide anything

Reading about a job tells you almost nothing. This is designed to be done alone, this week, for free.

Read one company's results and write one page about them

About 120 minutes
  1. Pick a company you know. Find its latest annual report or results release on its own website, and find the income statement.
  2. Open a blank spreadsheet. Copy in revenue and profit for the last three years and work out the change from year to year. Do not worry about what ratio to use.
  3. Write one page, in your own words, answering: is this company doing better or worse than it was, and what is the main reason? Do not call it a recommendation.
  4. Read your page back as if you were a busy manager. Cross out the sentences that do not help a decision.

What it tells you. A yes is finding the numbers pulled you in, and enjoying cutting your page to the point. That is a reason to plan maths and business courses and look at co-op degrees. A no is finding the spreadsheet dull or the writing laborious; the accountant, bookkeeper and financial advisor pages are close neighbours with more contact with people.

Better than any article

Questions for somebody who does this job

Most people say yes to a teenager who asks good questions. These are the ones that get real answers rather than encouragement.

  1. “What kind of analyst are you, and what does a normal week look like?”
  2. “How did you get your first job, and what would you do differently?”
  3. “How much of your time is spent on the model and how much on writing about it?”
  4. “What did you learn from a recommendation that turned out to be wrong?”
  5. “How hard was it to study for professional exams while working?”

Could you own one of these?

The part other career sites never mention

Not directly at first. Job Bank's figures show a small share of self-employed people in this group, and most analysts work inside a firm or a company. Independent research and consulting exist, but they come after years of experience and a track record.

Business 101 is free and teaches that part

Quick answers

Questions people ask about this job

How much does a financial analyst make in Ontario?

The median pay for a financial analyst in Ontario is $43.27 an hour, according to Job Bank (reference period 2023-2024, updated 19 November 2025). The range Job Bank publishes runs from $28.21 to $72.36 an hour. Pay varies by region, employer and experience.

What is the job outlook for a financial analyst in Ontario?

Job Bank rates the employment outlook for this work in Ontario as limited for 2025-2027 (updated 10 December 2025). Employment growth will lead to a few new positions. Not many positions will become available due to retirements. There are a small number of unemployed workers with recent experience in this occupation. A lower rating means more competition for each opening, not that no one is hiring.

What do you need to become a financial analyst in Ontario?

Job Bank says this work usually needs a university degree. The usual route in Ontario, in order: Get a degree in a numbers-heavy field; Get a first job, often through co-op or an internship; Work toward the CFA charter.

How many people work as a financial analyst in Ontario, and how many are women?

Job Bank counts about 46,000 people working in this job in Ontario. 44% of them are women, compared with 48% across all jobs. That describes who does the work today, not who can.

Not sure this is the right list to be reading

Start from yourself, not from the job.

Future Finder is free, takes about ten minutes, needs no account and stores nothing. It will tell you which kinds of work you lean toward, and which of these pages are worth your time.

Parent of a teenager weighing this up? Career coaching for teens gets them talking to people who do the work, anywhere in Ontario.

If this appeals, look at these too

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Wages and training requirements change. Every figure on this page is linked to the body that publishes it, and the review date above says when we last checked. If you find something out of date, tell us and we will fix it.