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Ontario Labour Market Report CIP Program 52.03: Accounting and Related Services

Most Relevant Academic Program(s) at Brock: Accounting

EMSI Q3 2016 Data Set

February 2017

Institutional Analysis and Planning

Brock University 1812 Sir Isaac Brock Way

905-688-5550

Emsi Q3 2016 Data Set | www.economicmodeling.com 2

Table of Contents

Section 1: Program Overview

a) How many degrees are completed in Ontario (Labour Supply)? ………..3

b) What types of degrees are completed in Ontario?................................3

c) What other similar programs are offered in Ontario? ……………………....4

d) What other similar programs are offered at Brock University?.............4

Section 2: Target Occupations

a) What top growing target occupations are obtained by Alumni?..........5

b) What are the growth prospects for these occupations (Demand)? .....6

c) How much are these target occupations earning?................................7

d) Where are the hottest places in Ontario in terms of job growth? ….….8

Section 3: Top Three Target Occupation Summaries **Includes Description, Skills & Competencies, Ontario Trends in Field, Location of Job, Industries

a) Supervisor, Finance and Insurance Office Worker………….…….……....….10

b) Financial and Investment Analyst……….…..…………..….…..……………….…..12

c) Financial Auditor and Accountant……………………….………………………..…..14

Reference and Notes……………………………………………………………..…………….…….16


b) What types of degrees are coming from Ontario? (52.03)

Section 1: Program Overview for Accounting (52.03)

45 5,302

Ontario Institutions Ontario Program Completions (2013)

had Completions in the last 5 years

a) How many degrees are completed in Ontario? (52.03)

Region 2009

Completions 2013

Completions % Change

● Ontario 2,413 5,302 119.7%

● Canada 12,261 17,726 44.6%

Award Level

Completions

(2013) Percent

● Career, technical or pre-

university program 2,600 49.0%

● Bachelors degree 2,080 39.2%

● Masters Degree 622 11.7%


c) What other similar programs are offered in Ontario?

20 21,532

Programs (2013) Completions (2013)

CIP Code Program Completions (2013)

52.02 Business administration, management and

operations 9,299

52.01 Business/commerce, general 2,813

52.08 Finance and financial management services 2,589

14.10 Electrical, electronics and communications

engineering 1,443

11.07 Computer science 1,289

d) What other similar programs are offered at Brock University?

Business Administration1 - Brock's BBA program combines professionally oriented business courses

with studies in social sciences, humanities, mathematics and science. Our graduates enjoy a wide variety

of employment opportunities in industry, commerce and government, and many have gone on to

graduate studies in law, business and public administration.

Finance2 - A concentration in finance provides you with the knowledge of all aspects of money

management including investment, collection, disbursement, borrowing, and fund‐raising. Finance

also focuses on preparation of financial reports, tax and regulatory requirements, cash flow, investments,

and development of information. A finance degree will give you the necessary skills to understand and

reason through a wide range of fundamental financial decisions.

Operations Management3 - A concentration in operations management provides you with the

knowledge and skills required to perform the processes that transform or convert inputs of materials,

energy, information, and human skills into goods and services that satisfy customer needs. It will give

you an understanding of the design and implementation of systems for planning, controlling and

continuously improving operations.


Section 2: Target Occupations

a) Which top growing target occupation are obtained by Alumni?

243,628 10.8% $32.38/hr

Jobs7 (2015) % Change (2016-2024) Median Hourly Wages8

14% above Canada’s average Canada: 9.3% Canada: $30.91/hr

Occupation 2016 Jobs7 Median Hourly

Wages8 Growth (2016 -

2024) Location Quotient4

(2016)

Information systems

analysts and

consultants 73,937 $38.46/hr 11.57% 1.25

Financial auditors

and accountants 71,128 $34.36/hr 6.35% 1.05

Accounting

technicians and

bookkeepers 39,721 $20.00/hr 9.42% 0.94

Financial and

investment analysts 36,519 $35.04/hr 13.64% 1.36

Supervisors, finance

and insurance office

workers 27,901 $25.24/hr 17.96% 1.29


b) What are the growth prospects for these target occupations?

249,206 276,009 26,803 10.8%

2016 Jobs7 2024 Jobs7 Change (2016-2024) % Change (2016-2024)

Occupation 2016 Jobs7 2024 Jobs7 Change % Change

Financial auditors and

accountants (1111) 71,128 75,643 4,515 6%

Financial and investment

analysts (1112) 36,519 41,501 4,982 14%

Supervisors, finance and

insurance office workers

(1212) 27,901 32,911 5,010 18%

Accounting technicians and

bookkeepers (1311) 39,721 43,464 3,743 9%

Information systems

analysts and consultants

(2171) 73,937 82,491 8,554 12%


c) How much are these target occupations earning?

$24.66/hr $32.38/hr $41.25/hr

25th Percentile Wages8 Median Wages8 75th Percentile Wages8

Occupation 25th Percentile Wages8 Median Wages8 75th Percentile Wages8

Financial auditors and

accountants (1111) $24.04 $34.36 $46.15

Financial and investment analysts

(1112) $27.47 $35.04 $46.15

Supervisors, finance and

insurance office workers (1212) $20.19 $25.24 $32.31

Accounting technicians and

bookkeepers (1311) $15.00 $20.00 $25.00

Information systems analysts and

consultants (2171) $30.77 $38.46 $46.15


d) Where are the hottest places in Ontario in terms of job growth?

Census

Division

Census

Division

Name

2016

Jobs7

2024

Jobs7

2016 -

2024

Change

2016 -

2024 %

Change

2016

Location

Quotient

2024

Location

Quotient4

Expected

Change

2015 Avg.

Hourly

Wages8

3501 Stormont,

Dundas and

Glengarry 1,421 1,655 234 16% 0.95 1.01 132 $34.85

3507 Leeds and

Grenville 1,216 1,413 197 16% 0.93 0.98 113 $35.08

3502 Prescott and

Russell 728 845 117 16% 0.81 0.85 68 $33.95

3509 Lanark 635 729 94 15% 0.85 0.89 60 $34.78

3546 Haliburton 123 141 18 15% 0.63 0.63 11 $26.53

3534 Elgin 697 798 101 14% 0.71 0.76 65 $30.56

3523 Wellington 3,134 3,563 429 14% 0.80 0.83 292 $30.92

3522 Dufferin 490 553 63 13% 0.72 0.74 46 $30.52

3539 Middlesex 6,886 7,768 882 13% 0.88 0.91 641 $31.28

3506 Ottawa 29,943 33,770 3,827 13% 1.61 1.67 2,788 $36.70

3543 Simcoe 4,485 5,043 558 12% 0.75 0.77 418 $30.76


Census

Division

Census

Division

Name

2016

Jobs7

2024

Jobs7

2016 -

2024

Change

2016 -

2024 %

Change

2016

Location

Quotient

2024

Location

Quotient4

Expected

Change

2015 Avg.

Hourly

Wages8

3519 York 23,034 25,867 2,833 12% 1.33 1.35 2,145 $34.48

3532 Oxford 1,115 1,248 133 12% 0.58 0.59 104 $30.39

3521 Peel 30,133 33,608 3,475 12% 1.28 1.30 2,806 $34.39

3530 Waterloo 8,989 9,997 1,008 11% 0.97 1.00 838 $31.36

3520 Toronto 88,883 98,221 9,338 11% 1.67 1.69 8,276 $34.84

3524 Halton 8,417 9,288 871 10% 1.02 1.02 784 $32.86

3549 Parry Sound 256 282 26 10% 0.60 0.60 24 $29.59

3551 Manitoulin 139 153 14 10% 0.74 0.73 13 $29.53

3552 Sudbury 131 144 13 10% 0.51 0.50 12 $29.55

3525 Hamilton 5,510 6,029 519 9% 0.74 0.74 513 $29.69

Brock University continues to play a

significant role for employment within

our Hamilton-Niagara region


Section 3: Top Three Job Occupation Summaries

a) Supervisor, Finance and Insurance Office Worker Supervisors in this unit group supervise and co-ordinate the activities of workers in the following unit groups: Accounting and Related Clerks, Payroll Clerks, Banking, Insurance and Other Financial Clerks and Collectors. They are employed by banks and other financial institutions, insurance companies, and by

other establishments throughout the private and public sectors5.

Technology Skills Required 6: Skills & Abilities Required 6:

26,660 18.0% $25.24/hr



Ontario Trends

Region 2016 Jobs7 2024 Jobs7 Change % Change

● Ontario 27,901 32,911 5,010 18.0%

● Canada 56,664 64,941 8,277 14.6%

Computer Based Training Software:

Instructional Software

Microsoft Software: Word, PowerPoint,

Excel, Access

Database and Query Software:

Blackboard, PowerSchool SIS

Performance: provide and verify

accuracy of financial or transactional

data

Deductive Reasoning: apply rules to

problems to produce sensible answers


Where are the most jobs in Ontario for Supervisor, Finance and

Insurance Office Workers?

Census Metropolitan

Aggregate 2024 Jobs7

Toronto 19,954

Ottawa - Gatineau 2,220

Hamilton 2,170

Kitchener - Cambridge -

Waterloo 1,502

St. Catharines - Niagara 1,137

Who are employing Supervisor, Finance and Insurance Office Workers?

Industry

Occupation

Jobs7 in

Industry

(2015)

% of

Occupation

in Industry

(2015)

% of Total

Jobs7 in

Industry

(2015)

Depository credit intermediation 4,091 15.3% 3.0%

Insurance carriers 2,434 9.1% 4.7%

Agencies, brokerages and other insurance related activities 1,110 4.2% 3.2%

Local, municipal and regional public administration 988 3.7% 0.5%

Business support services 925 3.5% 2.4%

There will be an increase of 5,000+

positions available for Supervisor,

Finance and Insurance Office

Workers by 2024.


b) Financial and Investment Analyst

Financial and investment analysts collect and analyze financial information such as economic forecasts, trading volumes and the movement of capital, financial backgrounds of companies, historical performances and future trends of stocks, bonds and other investment instruments to provide financial and investment or financing advice for their company or their company's clients. Their studies and evaluations cover areas such as takeover bids, private placements, mergers or acquisitions. Financial analysts are employed by a wide range of establishments throughout the private and public sector, such as banks, brokerage houses, insurance companies, investment companies, manufacturing firms, trust companies, utility companies and underwriting firms. Investment analysts are employed primarily by brokerage houses and fund management

companies.5

Technology Skills Required6: Skills & Abilities Required6:

35,390 13.6% $35.04/hr



Ontario Trends


● Ontario 36,519 41,501 4,982 13.6%

● Canada 69,906 79,550 9,644 13.8%

Analytical or Scientific Software: SAS,

MATLAB, SAP Business Object

Microsoft Software: Office, Excel, Word

Processing Information: Compiling,

coding, categorizing, calculating,

tabulating, auditing and verifying data

Deductive Reasoning: ability to read and

understand information and ideas


Census Metropolitan Aggregate 2024 Jobs7

Toronto 30,915


Kitchener - Cambridge - Waterloo 797

Hamilton 758

Oshawa 726

Who are employing Financial and Investment Analyst?

Industry

Occupation

Jobs7 in

Industry

(2015)

% of

Occupation

in Industry

(2015)

% of Total

Jobs7 in

Industry

(2015)


Other financial investment activities 4,291 12.1% 11.0%

Securities and commodity contracts intermediation and

brokerage 2,475 7.0% 10.3%

Other federal services 1,575 4.4% 1.3%

Management of companies and enterprises 1,202 3.4% 3.2%

Where are the most jobs in Ontario for Financial and Investment

Analyst?

Brock University students have been successful with finding

employment within our local Hamilton-Niagara region and

capital city of Toronto.


c) Financial Auditor and Accountant Financial auditors examine and analyze the accounting and financial records of

individuals and establishments to ensure accuracy and compliance with

established accounting standards and procedures. Accountants plan, organize

and administer accounting systems for individuals and establishments. Articling

students in accounting firms are included in this unit group. Financial auditors

and accountants are employed by auditing and accounting firms throughout the

private and public sectors, or they may be self-employed. 5

Technology Skills Required6: Skills & Abilities Required6:

70,452 6.3% $34.36/hr



Ontario Trends


● Ontario 71,128 75,643 4,515 6.3%

● Canada 176,932 186,095 9,163 5.2%

Analytical or Scientific Software:

Minitab, SAP, SAS

Financial Analysis Software: Oracle E-

Business Suite Financials

Accounting Software: Intuit

QuickBooks

Economics and Mathematics: use

rules/methods to solve problems

Critical Thinking: use logic to identify

alternative solutions

Documenting Information: entering,

recording, and storing information


Where are the most jobs in Ontario for Financial Auditors and Accountants?

Who are employing Financial Auditors and Accountants?

Industry

Occupation

Jobs7 in

Industry

(2015)

% of

Occupation

in Industry

(2015)

% of Total

Jobs7 in

Industry

(2015)

Accounting, tax preparation, bookkeeping and payroll services 15,955 22.6% 42.0%

Other federal services 3,957 5.6% 3.2%


Management of companies and enterprises 2,161 3.1% 5.8%

Lessors of real estate 1,787 2.5% 3.5%

Census Metropolitan

Aggregate 2024 Jobs7

Toronto 46,701


London 3,414

Kitchener - Cambridge -

Waterloo 3,054

Hamilton 2,516


Reference and Notes

1 https://brocku.ca/business/future/undergraduate/programs/BBA 2 https://brocku.ca/business/future/undergraduate/programs/BBA/finance 3 https://brocku.ca/business/future/undergraduate/programs/BBA/operations 4 Location Quotient: a calculation that quantifies the concentration of a particular industry, cluster, or occupation, in a

region as compared to the nation. It can reveal what makes a particular region “unique” in comparison to the national average. Source: http://www.economicmodeling.com/2011/10/14/understanding-location-quotient-2/

5 https://brocku.EmsiCareerCoach.ca 6 https://www.onetonline.org/ 7 Employment numbers do not include people who are self-employed and may be under-represented. 8 Wages do not consider people who are self-employed and may be under-represented.

http://www.economicmodeling.com/2011/10/14/understanding-location-quotient-2/

https://brocku.emsicareercoach.ca/

https://www.onetonline.org/

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