Job prospects Banking Advisor in Alberta

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Explore current and future job prospects for people working as a "banking advisor" in Alberta or across Canada.

Job opportunities in Alberta

These outlooks were updated on November 29, 2023.

Prospects over the next 3 years

The employment outlook will be moderate for Financial advisors (NOC 11102) in Alberta for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment growth will lead to a few new positions.
• A moderate number of positions will become available due to retirements.
• There are a small number of unemployed workers with recent experience in this occupation.

The Conference Board of Canada is forecasting Alberta’s real GDP will expand by 2.6% in 2023 before slowing to 1.9% in 2024. Similarly, they are projecting the labour market to cool in late 2023 and into 2024. Higher for longer inflation may also have some firms rethinking expansion resulting in muted employment growth for this occupation. 

An aging workforce transitioning to retirement will create vacancies for job seekers.

Here are some key facts about Financial advisors in Alberta:

• Approximately 12,950 people work in this occupation.
• Financial advisors mainly work in the following sectors:
  • Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 81%
  • Insurance Carriers and related activities (NAICS 524, 526): 8%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 93% compared to 80% for all occupations
  • Part-time workers: 7% compared to 20% for all occupations
• 81% of financial advisors work all year, while 19% work only part of the year, compared to 61% and 39% respectively among all occupations. Those who worked only part of the year did so for an average of 47 weeks compared to 42 weeks for all occupations.
• 30% of financial advisors are self-employed compared to an average of 15% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 52% compared to 53% for all occupations
  • Women: 48% compared to 47% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: less than 5% compared to 10% for all occupations
  • high school diploma or equivalent: 15% compared to 28% for all occupations
  • apprenticeship or trades certificate or diploma: 6% compared to 13% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 24% compared to 19% for all occupations
  • bachelor's degree: 40% compared to 21% for all occupations
  • university certificate, degree or diploma above bachelor level: 14% compared to 9% for all occupations

Breakdown by region

Explore job prospects in Alberta 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 "banking advisor" Other financial officers (NOC 11102) or across Canada.

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