Toronto is not just Canada’s largest city; it is also the financial hub of the country. Home to the Toronto Stock Exchange (TSX), the headquarters of the “Big Five” banks (RBC, TD, Scotiabank, BMO, and CIBC), and a booming fintech sector, the city employs over 240,000 finance professionals across banking, insurance, consulting, and investment.
For job seekers and professionals, one of the most important questions is: How much can you earn in Toronto’s finance sector?
This article breaks down the average salaries for finance jobs in Toronto in 2025, with examples, employer insights, and real-world salary ranges.
Contents
Average Salaries by Finance Role in Toronto (2025)
| Finance Role | Average Salary (CAD) | Entry-Level | Senior-Level |
|---|---|---|---|
| Financial Analyst | $70,000 | $55,000 | $90,000+ |
| Investment Analyst | $85,000 | $65,000 | $110,000+ |
| Accountant (CPA) | $75,000 | $60,000 | $95,000+ |
| Senior Accountant | $92,000 | $75,000 | $115,000+ |
| Risk Analyst | $88,000 | $70,000 | $115,000+ |
| Compliance Officer | $95,000 | $80,000 | $120,000+ |
| Portfolio Manager | $110,000 | $90,000 | $150,000+ |
| Financial Planner / Advisor | $80,000 | $55,000 | $110,000+ |
| Corporate Finance Manager | $115,000 | $95,000 | $145,000+ |
| Chief Financial Officer (CFO) | $200,000+ | $150,000 | $350,000+ |
💡 Professionals with certifications like CFA, CPA, or FRM earn 15–25% more, while those working in Toronto’s Financial District (Bay Street) typically earn above the city average.
Salary Levels by Career Stage
1. Entry-Level (0–2 years)
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Typical roles: Junior analyst, staff accountant, banking associate.
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Salary range: $50,000–$65,000 CAD.
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Reality check: A fresh graduate starting as a financial analyst at RBC or TD can expect around $58,000, plus performance bonuses.
2. Mid-Level (3–7 years)
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Typical roles: Financial analyst II, senior accountant, investment associate.
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Salary range: $70,000–$100,000 CAD.
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Example: A CPA with 5 years at KPMG earns about $85,000–$90,000, while an investment associate at CPP Investments may earn $95,000 + bonuses.
3. Senior-Level (8–15 years)
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Typical roles: Portfolio manager, finance manager, risk specialist, compliance manager.
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Salary range: $100,000–$150,000 CAD.
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Example: A portfolio manager at Sun Life earns $120,000 base, with performance bonuses that can push total pay to $150,000+.
4. Executive (15+ years)
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Typical roles: CFO, VP Finance, Managing Director (Investment Banking).
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Salary range: $180,000–$350,000+ CAD.
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Example: A CFO at a Toronto fintech startup may earn $200,000 base plus stock options, while a Managing Director at an investment bank can cross $300,000+ with bonuses.
Key Factors Influencing Finance Salaries
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Certifications
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CPA (Accounting & Audit)
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CFA (Investment & Portfolio Management)
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FRM (Risk Management)
Having one of these can boost salaries by 15–25%.
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Industry Sector
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Investment banking and private equity → highest pay.
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Insurance and retail banking → stable but lower than investment.
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Fintech and startups → competitive pay + equity options.
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Employer Size
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Big Five banks pay competitive but structured salaries.
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Consulting (PwC, Deloitte, KPMG, EY) → strong pay with fast promotions.
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Fintech firms (Wealthsimple, Borrowell) → often lower base but higher long-term incentives.
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Location
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Bay Street = highest salaries in Toronto.
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Suburban offices (Mississauga, North York) = slightly lower pay but often better work-life balance.
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Real-World Examples
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Maria, CPA at Deloitte (5 years experience)
Salary: $88,000 CAD base, plus annual bonus.
She recently got promoted to manager and expects to reach $105,000+ within 2 years. -
Ahmed, Investment Analyst at RBC Capital Markets
Salary: $92,000 CAD + performance bonus up to 20%.
He works long hours (60–70 per week), but total compensation often exceeds $110,000. -
Sophia, Portfolio Manager at Manulife
Salary: $125,000 CAD base, plus bonus and profit-sharing.
Total annual package: around $150,000 CAD. -
David, CFO at a Fintech Startup
Salary: $210,000 CAD base + equity shares valued at ~$50,000 annually.
If the company IPOs, his package could easily double.
Salary Outlook in 2025 and Beyond
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AI and Data Finance: Analysts skilled in data science + finance will see above-average pay growth.
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ESG & Green Finance: Specialists in sustainable investing are in demand.
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Risk & Compliance: Global regulatory changes ensure risk professionals remain well-paid.
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Fintech Growth: Toronto’s fintech ecosystem is expected to create 5,000+ new finance jobs by 2026.
Conclusion
Toronto remains the best city in Canada for finance professionals, both in terms of salary potential and career growth.
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Entry-level analysts start at $55K–$65K.
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Mid-level professionals with certifications reach $85K–$110K.
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Senior managers and portfolio specialists often earn $120K–$150K.
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Executives like CFOs and Managing Directors regularly exceed $200K–$300K.
Example in practice:
A finance graduate could start at $60,000 as an analyst, become a CPA within 5 years and reach $90,000, move into portfolio management by year 10 at $130,000, and eventually aim for an executive role at $200,000+.
👉 For ambitious professionals, Toronto offers not just jobs, but a clear pathway to six-figure salaries and international-level opportunities.
FAQ
1. What is the average finance salary in Toronto in 2025?
Between $70,000 and $100,000, depending on role and experience.
2. Which finance job pays the most?
CFOs, investment bankers, and senior portfolio managers earn $200,000+.
3. Do newcomers to Canada earn less in finance?
Initially yes, but certifications (CPA, CFA) and Canadian experience quickly boost salaries.
4. Is Toronto better than Vancouver or Montreal for finance jobs?
Yes—Toronto has more global employers, higher salaries, and more career opportunities.
5. Are fintech jobs in Toronto worth it?
Yes, fintech salaries are competitive ($90K–$140K), plus equity packages offer high upside potential.