More university graduates are considering a career in finance as they look to take their learnings to the professional world.
Forty per cent of recent graduates said they felt most confident in the finance sector when it comes to their career prospects, nearly double the confidence shown in 2023 and at least double that of all the other sectors, according to a
recent survey by the CFA Institute
.
“Over the last few years, we have seen a significant increase in finance as a career choice for young people in Canada,” Margaret Franklin, chief executive of CFA Institute, said
in a news release
.
“That is reassuring. At CFA Institute, we believe finance serves an essential role in society and needs more committed young people to enter the field to help address the many societal challenges we face. That 93 per cent of graduates express a desire to pursue a career that positively impacts society is inspiring and gives me hope for the future of the profession.”
But new grads are also worried that the expanded usage of artificial intelligence could hurt their job prospects.
The survey said 73 per cent of new graduates fear AI could impact their career and make it harder to find a job. However, many new graduates are confident in their AI skills, with 35 per cent believing their AI competency will help their job prospects, which is higher than those who believe being bilingual will help.
“AI literacy is becoming a non-negotiable skill in entry-level professional roles across Canada, and those who are able to combine their technical competence with interpersonal skills will be well suited to succeed in building their careers to meet the future,” Michael Thom, managing director of CFA Societies Canada, said.
On top of the type of job new grads are looking for, 56 per cent said they are looking for a good salary, 54 per cent are looking at benefits and half want flexible work.
New graduates are entering the workforce at a challenging time, with
summer jobs have drying up
and
unemployment reaching seven per cent
in May.
Unemployment for youth aged 15-24 at 14.2 per cent is more than double the national average and summer job postings are down 22 per cent on Indeed’s jobs platform.
To help stimulate youth employment, the federal government recently
expanded its summer jobs program
to subsidize an additional 6,000 summer jobs on top of the 70,000 jobs it already planned to support.
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United States President Donald Trump’s recent comments on the Israel-Iran conflict have added speculation that it might be prolonged, and subsequently added volatility into the oil markets.
West Texas Intermediate climbed three per cent to US$74 a barrel, following the comments but a gage of volatility in the market reached a three-year high.
Trump tampered expectations of a quick ceasefire in the conflict, saying on Monday that he wants a “real end” to the conflict and for Iran’s nuclear program “wiped out.”
Investors are also concerned that Tehran may look to block oil shipments along the Strait of Hormuz.
Read more here.
- 11:15 a.m.: Bank of Canada governor Tiff Macklem speaks in St. John’s, N.L.
- 2:00 p.m.: United States Federal Reserve interest rate decision
- Today’s Data: U.S. housing starts for May
- Today’s earnings: Aurora Cannabis Inc.
McLister on mortgages
Want to learn more about mortgages? Mortgage strategist Robert McLister’s
Financial Post column
can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his
mortgage rate page
for Canada’s lowest national mortgage rates, updated daily.
Financial Post on YouTube
Visit the Financial Post’s
YouTube channel
for interviews with Canada’s leading experts in business, economics, housing, the energy sector and more.
Today’s Posthaste was written by Ben Cousins with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.
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Posthaste: Finance emerges as the hot job for new grads
2025-06-18 12:00:48
