Job prospects Insolvency And Bankruptcy Administrator in Ontario

Explore current and future job prospects for people working as an "insolvency and bankruptcy administrator" 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