Job prospects Financial Clerk - Financial Sector in Ontario

Explore current and future job prospects for people working as a "financial clerk - financial sector" in Ontario or across Canada.

Job opportunities in Ontario

These outlooks were updated on November 29, 2023.

Prospects over the next 3 years

The employment outlook will be moderate for Banking, insurance and other financial clerks (NOC 14201) in Ontario for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment is expected to remain relatively stable.
• Several positions will become available due to retirements.
• There are a small number of unemployed workers with recent experience in this occupation.

What Types of Employers Are Out There?

• Majority are employed in finance and insurance services

What are the Main Trends Affecting Employment?

• Due to the entry-level nature of this position, several openings should arise from staff turnover
• Job prospects may be constrained due to significant investments being made in automation

What Skills Do I Need to Succeed?

• Completion of high school, but a business college diploma may be required
• Data entry and data validation abilities may be required
• Administrative and customer service skills.

Here are some key facts about Banking, insurance and other financial clerks in Ontario:

• Approximately 14,800 people work in this occupation.
• Banking, insurance and other financial clerks mainly work in the following sectors:
  • Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 46%
  • Insurance Carriers and related activities (NAICS 524, 526): 33%
  • Real Estate and rental and leasing (NAICS 53): 8%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 91% compared to 81% for all occupations
  • Part-time workers: 9% compared to 19% for all occupations
• 75% of banking, insurance and other financial clerks work all year, while 25% work only part of the year, compared to 63% and 37% respectively among all occupations. Those who worked only part of the year did so for an average of 45 weeks compared to 43 weeks for all occupations.
• Less than 5% of banking, insurance and other financial clerks are self-employed compared to an average of 15% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 28% compared to 52% for all occupations
  • Women: 71% compared to 48% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: less than 5% compared to 9% for all occupations
  • high school diploma or equivalent: 32% compared to 25% for all occupations
  • apprenticeship or trades certificate or diploma: 5% compared to 8% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 26% compared to 22% for all occupations
  • bachelor's degree: 27% compared to 24% for all occupations
  • university certificate, degree or diploma above bachelor level: 8% compared to 13% for all occupations

Breakdown by region

Explore job prospects in Ontario by economic region.

Source Labour Market Information | Prospects Methodology

Labour market conditions over the next 10 years

Explore current and future job prospects for people working as a "financial clerk - financial sector" Banking, insurance and other financial clerks (NOC 14201) or across Canada.

Learn more