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Banker, Corporate Underwriter, Investment Analyst, Public Finance Underwriter, Underwriter
In Canada, the federal government groups and organizes occupations based on a National Occupational Classification (NOC) system. This alis occupation may not reflect the entire NOC group it is part of. Data for the NOC group can apply across multiple occupations.
The NOC system is updated every 5 years to reflect changes in the labour market. Government forms and labour market data may group and refer to an occupation differently, depending on the system used.
Here is how this occupation has been classified over time.
2006 NOC
2006 NOC-S
2011 NOC
2016 NOC
2021 NOC
2023 OaSIS
When governments need to raise new money, they may borrow funds by issuing bonds. The money owed to bond holders is then repaid from taxes and other revenues collected over several years.
Corporations that need money can get it by issuing bonds, debentures, or shares. Investment firms that offer underwriting services may buy securities at a fixed price with the goal of selling at a profit or acting as agents.
The underwriting department, sometimes called the corporate finance or investment banking department, creates revenue by:
To achieve these goals, investment underwriters must help their clients with financial planning by:
Duties vary from one position to another but, in general, corporate underwriters:
They may also help the company issuing the bonds to complete a prospectus. This describes the company’s business and the securities it plans to sell. The company must file the prospectus with the provincial securities commission before bringing its new bond issue to market.
In general, public finance underwriters assist federal, provincial, and municipal governments to:
Underwriting is a highly specialized occupation. It involves working long hours in an office setting under constant deadline pressure. Underwriting staff work apart from the rest of the firm, usually in head offices.
Depending on the firm, investments underwriters may do a lot of national and international travel.
In Alberta, this occupation is part of 1 or more 2006 National Occupational Classification (NOC) groups. If there are multiple related NOC groups, select a NOC heading to learn about each one.
Interest in obtaining information and documentation related to the underwriting of new issues of stocks, bonds and securities
Interest in analyzing regulations, terms and conditions to underwrite new issues of stocks and bonds and develop information brochures
Interest in negotiating with corporations and governments to determine the types and terms of new securities issued
To identify or change your interest codes, complete the Interests Exercise in CAREERinsite.
The interest code helps you figure out if you’d like to work in a particular occupation.
It’s based on the Canadian Work Preference Inventory (CWPI), which measures 5 occupational interests: Directive, Innovative, Methodical, Objective, and Social.
Each set of 3 interest codes for this NOC group is listed in order of importance.
A code in capital letters means it’s a strong fit for the occupation.
A code in all lowercase letters means the fit is weaker.
To fill in or change the values for your abilities, complete the Abilities Exercise in CAREERinsite.
A Quick Guide
You are born with abilities that help you process certain types of information and turn it into action. These abilities influence which skills you can learn more easily.
The abilities or aptitudes shown for this NOC group come from the General Aptitude Test Battery (GATB). The GATB measures 9 aptitudes. It groups them into 3 categories: mental, visual, and physical.
The abilities scores range from 1 to 5, with 5 being stronger.
Investment underwriters need:
They should enjoy taking a methodical approach to gathering and analyzing information. They should like finding innovative solutions, negotiating with others, and directing others’ work.
In Alberta, this occupation is part of 1 or more 2016 National Occupational Classification (NOC) groups. If there are multiple related NOC groups, select a NOC heading to learn about each one.
This chart shows which job skills are currently in highest demand for this occupational group. It was created using this occupation's 48 most recent Alberta job postings, collected between Nov 28, 2021 and Apr 18, 2024.
Review these skills to learn:
| Tasks: Identify clients' financial goals and objectives | 33 |
|---|---|
| Tasks: Develop financial plans for clients | 33 |
| Tasks: Analyze clients' financial records | 32 |
| Tasks: Make recommendations concerning cash management, insurance coverage, investment planning, retirement and estate planning | 32 |
| Construction Specialization: Effective interpersonal skills | 25 |
| Construction Specialization: Excellent oral communication | 23 |
| Construction Specialization: Excellent written communication | 22 |
| Tasks: Arrange for sale of financial products and investments | 21 |
| Construction Specialization: Accurate | 20 |
| Attention to detail | 20 |
Securities firms hire investment underwriters who have related work experience and at least 1 of the following:
To expand or narrow your search for programs related to this occupation, visit Post-Secondary Programs.
Completing a program does not guarantee entrance into an occupation. Before enrolling in an education program, prospective students should look into various sources for education options and employment possibilities. For example, contact associations and employers in this field.
Most firms require their investment underwriters to have completed the Canadian Securities Course (for more information, see the Investment Advisor occupational profile).
In addition, the CVB Institute offers the CBV designation to applicants who have business and securities valuation experience. Visit their website for details about the designation and its requirements.
Source: 2019-2023 Alberta Regional Occupational Demand Outlook
Many investment firms prefer to train their own underwriting staff rather than hire someone trained elsewhere. Competition for underwriting positions often is keen. On-the-job training may include about a year of work supervised by senior underwriting staff, preparing analyses and attending client meetings. An apprenticeship period as a junior underwriter follows.
Competition also is keen for opportunities to advance to senior management positions.
This section shows the industries where the majority of people in this occupation work. The data is based on the 2016 Census.
In Alberta, this occupation is part of 1 or more 2016 National Occupational Classification (NOC) groups.
In the 1114: Other financial officers occupational group, 82.9% of people work in:
Employment outlook is influenced by a wide variety of factors including:
In Alberta, the 1114: Other financial officers occupational group is expected to have a below-average annual growth of 1.6% from 2019 to 2023. In addition to job openings created by employment turnover, 233 new positions are forecasted to be created within this occupational group each year.
Note
NOC groups often include several related occupations. Although there is labour market data for the larger NOC group, this occupation makes up only a part of that group. It means data for this occupation may be different than the data shown. For example, only some of the new positions to be created will be for this occupation. It also applies to other data for the NOC group such as number of people employed.
Source: 2019-2023 Alberta Regional Occupational Demand Outlook
Employment turnover is expected to increase as members of the baby boom generation retire over the next few years.
Investment underwriters’ incomes are highly variable. Most underwriters receive a base salary plus bonuses.
In Alberta, this occupation is part of 1 or more 2016 National Occupational Classification (NOC) groups. If there are multiple related NOC groups, select a NOC heading to learn about each one.
Unless otherwise noted, the data shown here is for all industries and all regions in Alberta.
All wage estimates are hourly except where otherwise indicated. Wages and salaries do not include overtime hours, tips, benefits, profit shares, bonuses (unrelated to production), and other forms of compensation.
To see the full survey data for this NOC group, visit the wage profile.
Other wage sources
To make an informed wage and salary decision, research other wage sources [pdf] to supplement this data.
Good Reliability, represents a CV of between 6.01% and 15.00% and/or fewer than 30 survey observations and/or if survey observations represent less than 50% of all estimated employment for the occupation.
| Wages* | Low (5th percentile) | High (95th percentile) | Average | Median |
|---|---|---|---|---|
| Starting | $20.19 | $52.88 | $32.13 | $31.69 |
| Overall | $20.19 | $85.68 | $39.04 | $38.69 |
| Top | $24.04 | $96.15 | $45.08 | $41.03 |
Swipe left and right to view all data. Scroll left and right to view all data.
* All wage estimates are hourly except where otherwise indicated. Wages and salaries do not include overtime hours, tips, benefits, profit shares, bonuses (unrelated to production) and other forms of compensation.
Pay brackets for hourly wages
| ALL INDUSTRIES | $75,982 |
|---|---|
| Finance, Insurance, Real Estate, Leasing | $71,263 |
| Public Administration | $90,942 |
Canadian Securities Institute (CSI) website: www.csi.ca
CBV Institute website: cbvinstitute.com
Investment Industry Association of Canada (IIAC) website: iiac.ca
Get information and referrals about career, education, and employment options from Alberta Supports.
Updated Mar 31, 2022. The information contained in this profile is current as of the dates shown. Salary, employment outlook, and educational program information may change without notice. It is advised that you confirm this information before making any career decisions.
