Director, Finance/Controller Salaries 2023

Explore the average range of a Director, Finance/Controller salary

Developed in partnership with a market leading data provider, we assessed over 100,000 jobs posted over the last 12 months, to provide you with accurate data points on Canadian salary ranges, averages and expectations for permanent, contract and interim positions across Canada. The 2023 salary survey discovered that salary averages for finance directors and controllers had increased by approximately $10k year-on-year.

• 2022 salary range: $140k - 185k
• 2023 salary range: $145k - 195k

Director, Finance/Controller salary trends and outlook

Director, Finance/Controller roles continue to be sought-after in Canada. It is important to note that while these roles are usually in demand, the level of demand can change depending on industry trends and market conditions. To stay ahead of the ever-changing market and competition, it is vital to keep your skills up to date and gain knowledge in areas such as technology, data analysis, and strategic thinking, as this is where you will find greater opportunities and the most finance director and controller jobs.

The average director, finance/controller salaries in Canada vary in each location, but you can expect salary ranges between $140k-185k depending on the below factors. 

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Experience

Finance Directors and Controllers who have several years post-qualification experience (PQE) often command higher salaries due to their increased expertise and the knowledge they can bring to an organisation. You also need to have strong experience in leading teams, overseeing accounting operations, preparing financial statements, conducting audits, developing budgets and forecasts, implementing internal controls and policies, and providing strategic financial advice.

Qualifications

If a director, finance/controller wants to further enhance earning potential, it is highly recommended to pursue advanced qualifications, such as becoming a Certified Public Accountant (CPA) - which is often a requirement for many employers. Additionally, learning through workshops, seminars, and staying up-to-date with industry trends can also contribute to a higher salary.

Industry

Certain industries, such as Banking & Financial Services, are likely to have higher revenue streams, so they can offer competitive compensation packages to those with specialised skills. Commerce & Industry have broader salary ranges as it is more general and covers a wide range of businesses outside the financial sector, but industries such as mining and pharma often offer more competitive salaries.

Company size

Larger businesses tend to have more complex financial operations and higher budgets, which in turn can provide competitive salaries for their employees. There are also more responsibilities and risks for the finance directors and controllers, so they require more skills, experience and qualifications from these roles and offer the higher salary to match. On the other hand, whilst salaries and benefits can often be less competitive than larger organizations, rewards that come with workng for a start-up salaries (e.g. equity) can prove to be valuable in the long term if the company succeeds. 

Location

Salaries are higher in major Canadian cities where the cost of living is higher, and the demand is greater. Toronto tends to have higher salaries, where the average salary for a finance director is $155k per year.