I will introduce to you the interpretation of the employment directions of studying in Canada for finance majors. I hope it will be helpful to students studying abroad.

If you want to know more about studying abroad, I will give you detailed answers.

Finance major is a popular major in Canada, accounting for a large proportion of the majors planned to study. According to the industry salary survey released by Statistics Canada on February 26, 2009, every person in the finance and insurance industry

The average weekly salary is more than 1,000 Canadian dollars, ranking among the top 4 in all industries.

Let’s take a look at the employment opportunities for Masters in Finance in Canada.

(1) Chartered Banks are publicly owned financial institutions that can accept deposits and provide loans.

It usually obtains a charter license from the federal government.

According to the Bank Act of Canada, licensed banks are divided into two categories.

Category I: This type of bank must be owned by Canadians.

By the end of 1999, there were eight banks in the country: Royal Bank of Canada, Bank of Montreal, Toronto Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank, Laurentian Bank of Canada, and Canadian Western Bank.

Category II: This type of bank is typically a wholly-owned subsidiary of a foreign bank in Canada. They have some restrictions on conducting business in Canada, such as the number of branches.

By the end of 1999, there were 42 banks in the country, including HSBC Bank of Canada, ING Bank of Canada, and Bank of China (Canada).

(2) Trust Company: Some are national and some are regional. Most of the services provided are the same as banks. They can accept time deposits and provide loans, manage estates and trusts.

The proceeds are invested in mortgages, bonds and other loans.

Also acts as a mutual fund custodian.

There are currently approximately 100 trust companies in Canada.

(3) Credit unions are also called cooperative banks (caisses Populaires in Quebec).

Its customers are also shareholders, and depositors and borrowers become members of the cooperative and enjoy dividend rights.

In every province in Canada, there is a cooperation center to complete check clearing, review, and central bank services for each branch.

In 1999, there were approximately 946 cooperatives in the country except Quebec.

(4) Finance Company Most financial companies are governed by provincial business laws.

Although allowed to accept deposits, no financial firms do so.

The four main financial companies are: consumer loan companies, sales financing and acceptance companies, financial leasing companies, and commercial financing companies (such as venture capital companies).

(5) Investment Dealers provide subscription and brokerage services to corporate and retail customers. Most domestic investment brokers are now owned by licensed banks, and some large foreign companies have also set up branches in Canada.

Investment brokers are generally regulated by provincial securities management departments.

(6) Insurance Company Insurance Company Insurance companies are divided into two categories: life insurance and general insurance companies. The two cannot operate across each other.

In 1998, there were 22 life insurance companies in Canada with policy owners as shareholders and 107 life insurance companies with the public as shareholders.

(7) Mutual Funds Mutual Funds are funds pooled by many individual investors and managed by professional money managers.

Generally, there are two types of organizations: trust type and company type.

Mutual funds are important institutional investors in financial markets.