Like many on this forum, I, too, am curious whether the cap for financial and investment analysts (NOC 1112) is reached or is getting to close to being reached. My gut feeling is that the number of financial and investment analysts on the FSW 2014 spreadsheet is grossly underestimating actual interest in that category. Consequently, the anticipated cap reach date for NOC 1112 of 7/17/2014 could be very well off the mark. To get a better estimate of potential applicant pool / actual interest in NOC 1112, I attempted a unique approach. The Chartered Financial Analyst (CFA) is the gold standard for Financial and Investment Analysts. The designation implies competence and mastery of a wide body of knowledge deemed critical for sound investment analysis. Many adverts for financial and investment analysts specifically say that the ideal candidate for the position will be a CFA charter holder. I Googled CFA membership directory to get a breakdown of CFA charter holders by country. The results stunned me!
Since China and India represent about half the world’s population, I looked up these countries first to gauge the number of investment analysts who could potentially migrate under the FSW program. Here are the numbers:
China’s population is 1.4 billion; according to CFA institute’s member directory web link, the number of CFA charter holders in China is just 2960
India’s population is 1.2 billion; according to CFA institute’s member directory web link, the number of CFA charter holders in India is just 1319
While Canada is the second largest country in the world in terms of land mass, its population – 35 million - is quite small. The country, however, has 14,769 CFA charter holders.
Let me put Canada’s number in perspective: the US has 58,508 CFA charter holders. US’ population is 318 million. Using proportions, I calculated how many CFAs Canada would have if its population were as large as the US’. For those of you who care to know, number would be 134, 186. Per capita, Canada has a much greater number of CFAs than the US!
My attempt to gauge the potential size of NOC 1112 applicants from China and India proved futile. The only conclusions that I arrived at was that these countries, despite having very large populations, have a stunningly short supply of competent investment analysts. On the other hand, Canada, despite its small population, has many CFAs. Competition for financial and investment analyst jobs in Canada is, thus, likely to be pretty intense!