Finance Manager Salary Victoria

Finance Manager Salary Victoria – As municipalities prepare to approve 2021 budgets, councils across the region are scrambling to prioritize overdue capital projects.

This is especially true in the older cities of Oak Bay, Saanich and Victoria, which sometimes deal with centuries-old wooden trenches in an attempt to install the next generation of underground pipes, sewer and water pipes.

Finance Manager Salary Victoria

Wages, however, remain the largest item in municipal budgets. The latest comparable figures come from the 2019 End of Year Statement of Financial Information (SOFI), which was submitted in 2020.

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Mayor salaries for 2019 were $34,415.26 in Oak Bay, $116,492 in Saanich, $112,998 in Victoria, $44,769 in Langford, $58,500 in Esquimalt, $31,722 in Colwood and $31,738 in View Royal. . Counselors earned $14,604.48 in Oak Bay, $46,048 in Saanich, $45,199 in Victoria, $27,318 in Langford, $25,093 in Esquimalt, $15,861 in Colwood and $15,216 in View Royal.

The region’s top earner in 2019 was Capital Regional District’s Dave Clancy, who earned $387,172 as project manager for the $775 million Central Area Liquid Waste Management, which is now in operation.

City of Victoria’s $262 million budget spent $123 million on salaries and benefits. Of this amount, 65 million dollars were allocated to the article of the budget of the municipalities – defense services. Oak Bay’s total payroll was $24 million, with $9 million going to defensive services, while Saanich’s total payroll was $107.8 million, with $49 million going to defensive services.

A crude comparison of per capita wage costs (conservatively based on the 2016 Census of 92,141) breaks down to $1,334 per capita in Victoria, $1,326 per capita in Oak Bay (18,094) and $904 per capita in Saanich (119 , 122).

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CRD’s department heads lead the way as the region’s top earner behind Clancy. CRD Chief Administrative Officer (CAO) Robert Lapham won $282,659, Central Area Liquid Wastewater Treatment Program Assistant Manager, Elizabeth Scott, $272,601, CRD Senior Accountant, Nelson Chan, Finance Manager, won $237,343, Liquid Wastewater Treatment Program Manager, and Parisa- director of the supervisory program. $215,335.

Next was Victoria, whose manager Jocelyn Jenkins earned $232,559 plus $38,183 in benefits. Victoria’s top lawyer Tom Zworski won $219,424.88 plus $19,063.60. Susan Thompson, the city’s deputy manager and chief financial officer, won $215,079.15, plus $27,510. Parks, recreation and facilities manager Thomas Sullier won $190,278, fire chief Paul Bruce won $185,900 plus $15,242 and Victoria Engineering and public works manager Fraser Wark won $186,510.18 plus $17,768.

Saanich’s top earner in 2019 was CAO Paul Thorkelsson at $278,781. Fire Chief Michael Burgess is next at $201,609, Director of Engineering Harley Macielsi at $194,156, Director of Planning Sharon Hwozdanski at $193,205, and Director of Buildings, Regulations, Permits and Legal Services Brent Rimsin at $193,435. Samborski, 194, 156, and CFO Valla Tinney, $193,655.

Oak Bay’s top earner was CAO Lou Varela at $159,074. Director of Engineering and Public Works Dan Horan won $145,093, Fire Chief Darren Hughes $154,379, Director of Construction and Planning Bruce Anderson $141,807 and former Finance Director Donna Costin $124,793. Asset management as an industry has a number of different career paths. In portfolio management, analysts generate investment ideas that are presented to portfolio managers (PMs). These PMs are responsible for stock selection, asset allocation decision making and portfolio management. The PM who has ultimate responsibility for the portfolio is the alpha manager. Client Portfolio Managers (CPMs) not only work with the portfolio management team, but also take on most of the client-facing responsibilities. CPMs and PMs can work together to generate new business and deliver strategy updates. Marketing in asset management includes roles responsible for developing marketing strategies and providing marketing collateral, while relationship managers take care of customers by providing materials and handling inquiries. There are also compliance, trading and operational roles within asset management.

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“Why Asset Management?” is a popular interview question. While the typical answer often mentions a passion for investing, the simple truth for many is that the work-life balance in this field is much better than in investment banking or equity. While the pay is still extremely attractive, hours rarely exceed 60 a week (usually less) and weekends are generally free. A career in asset management offers intellectual stimulation and teams are generally diverse in terms of background and training.

Expectations in terms of education and academic excellence are high in the field, although it is not as intensely competitive as private equity. A bachelor’s and master’s degree in finance is an advantage, but graduates from other majors will occasionally be considered. This is especially true for industry professionals, whose “real world” experience is seen as an asset. Graduates from other quantitative disciplines such as physics or mathematics may also be considered, especially for highly quantitative strategies. The most common qualifications are an MBA or a Masters in Finance

Financial certifications in asset management are a great way to demonstrate competence and dedication and land an interview. If you are considering a career in asset management or have recently been employed in an asset management role, enroll in our online portfolio manager course. Master the portfolio management process, watch an expert interview with a wealth manager, and earn a certification recognized by Wall Street.

The Chartered Financial Analyst (CFA) designation also adds value to any resume. The Chartered Alternative Investment Analyst (CAIA) designation focuses on alternative investments. In addition, the Chartered Institute of Securities and Investments also offers a number of attractive qualifications for UK employers.

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Last but not least, ESG (Environmental, Social and Governance) factors are becoming increasingly important for public and private companies and are highly valued by employers. Take the online ESG certificate course and master the key concepts related to ESG analysis, investing and portfolio construction to create and sustain shareholder value.

This is an example of a portfolio management career path with certifications and qualifications an individual can have at each level.

A typical entry-level position is a junior analyst or analyst position (this largely depends on the size of the company and team). Analysts are responsible for finding new investment opportunities by performing quantitative and qualitative analysis.

Senior analysts generally have experience working with the team and are very familiar with the investment philosophy, process and universe. They generate ideas, cover “watch list” stocks and maintain up-to-date recommendations on portfolio companies.

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Junior portfolio managers support the senior portfolio manager in research but also in portfolio management related activities. They typically spend a year on the team and have previous experience as a senior analyst or assistant portfolio manager elsewhere.

Portfolio managers are the key professionals responsible for managing a particular mandate/strategy/fund. Their responsibilities include stock selection, portfolio construction, risk management and ongoing monitoring, as well as portfolio rebalancing and optimization.

As you’d expect, salaries vary by organization (depending on company size, fund type, and seniority). Total compensation includes base salary and performance-related bonus. To align the interests of employees and clients, analysts can be compensated for their stock performance and portfolio managers for their strategy execution. The table below gives approximate marks corresponding to senior position.

As potential candidates might expect, the hours are much better than in fields like investment banking. The exact number of hours depends on team resources and the market environment, but more than 60 hours per week will be rare. Unless something urgent happens, weekends are usually free.

Accounting And Finance Career Paths

Some say asset management is less stressful than investment banking, but still comes with a very competitive salary. The work is intellectually stimulating, especially for those who are passionate about financial markets and enjoy analyzing companies. Additionally, asset management culture tends to be less politicized and the environment more relaxed.

On the other hand, competition for jobs is extremely high as many investment bankers and hedge fund professionals view asset management as a good exit opportunity, adding to the demand for jobs already available. There is also some mobility between asset management and hedge funds or private equity funds.

It depends on the personality. For those who value stability and a good work/life balance, but still want substantial compensation, asset management can be an ideal solution. However, the field is still quite competitive and intellectually demanding, so a degree and additional professional qualifications are a must.

For those who like high-risk environments and seek to generate higher returns, investment banking, private equity or hedge funds may be more attractive.

Accounting Career Paths — Entry Level To Senior Roles

A career in asset management is generally suited to those who seek intellectual challenges, are naturally curious and have a good understanding of financial markets. Compensation is competitive. These factors, combined with a good work-life balance, make the industry attractive to experienced finance candidates.

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