Insurance, Real Estate, and Financial Brokerage Managers

(NOC 0121)

in All Management

Insurance, real estate and financial brokerage managers oversee the operation of departments or businesses that provide insurance, mortgage, real estate and investment services. They are responsible for business development and must make sure that their group reaches performance levels related to goals. They work for insurance companies, real estate firms, stockbrokers, investment dealers, mortgage brokers and security and commodity exchanges.

Job Outlook

Average

Read more

  • Estimate Stable employment change, 2019-2021
  • Estimate 20 openings due to growth and retirements, 2018-2020
  • Estimate Low rate of unemployment in 2019

Compared to: All Management

  • Estimate -245 employment change, 2019-2021
  • Estimate 3210 openings due to growth and retirements, 2018-2020
  • Estimate rate of unemployment not available for these occupation.

The employment outlook over the next few years for this occupational group is “average”, which indicates the chances of a qualified individual finding work is comparable to the average for all occupations in Nova Scotia. This is a moderate sized occupation in Nova Scotia so some job opportunities may occur through turnover. The number employed in this occupation is expected to remain largely the same over the next few years. With a moderate percent of workers being 55 years of age and older, retirements are expected to contribute somewhat to employment opportunities over the coming years. Insurance, Real Estate and Financial Brokerage Managers most commonly work full-time hours. Also, a fair portion of the workforce is self-employed, so having the option to "work for yourself" may appeal to some individuals’ interests/motivations.

The median employment income for 68% of Insurance, Real Estate and Financial Brokerage Managers who worked full-time, year-round in 2015 was $83,496. Across all occupations in Nova Scotia, 59% of those who worked full-time year round had a median employment income of $43,600.
(Source: 2016 Census)

Hourly Pay

$21.63

Minimum

$43.96

Median

$58.24

Maximum

Annual Pay

$14,614

Minimum

$71,461

Median

$142,935

Maximum

Compared to: All Management

Hourly Pay

$16.70

Minimum

$45.17

Median

$58.17

Maximum

Annual Pay

$10,632

Minimum

$55,002

Median

$124,014

Maximum

About the job

Nature of work

Insurance, real estate and financial brokerage managers oversee the operation of departments or businesses that provide insurance, mortgage, real estate and investment services. They are responsible for business development and must make sure that their group reaches performance levels related to goals. They work for insurance companies, real estate firms, stockbrokers, investment dealers, mortgage brokers and security and commodity exchanges.

Job duties

Insurance, real estate and financial brokerage managers:

  • Insurance managers oversee the operations of an organization or department that provides car, truck, fire, life, property or other types of insurance services.
  • Real estate service managers oversee the operations of a company or department that buys, sells and leases residential and commercial properties for clients.
  • Mortgage broker managers oversee the operations of a company or department that finds lenders or lending institutions on behalf of clients seeking a mortgage.
  • Securities managers oversee the operation of a company or department that buys and sells stocks, bonds and other forms of investments on behalf of clients and manage the investments of their own clients.

Sample job titles

  • bond sales manager
  • brokerage manager - investments
  • commodities trading manager
  • financial brokerage manager
  • insurance claims service manager
  • insurance manager
  • investment manager - financial brokerage
  • mortgage broker manager
  • real estate broker
  • real estate service manager
  • securities sales director
  • trading floor manager

Skills

You need strong leadership qualities and an ability to motivate others. You need excellent organizational, problem-solving, planning, and decision-making skills. You must have confidence and initiative, and you need excellent communication and interpersonal skills.

Job requirements

  • A university degree or college diploma in business administration, economics or related field is usually needed.
  • Several years of experience within the appropriate industry.
  • Licensure related to the service sold like real estate, mortgage, securities or insurance, may be needed.
  • A recognized professional designation is usually needed in the insurance industry.

Other considerations

Advancement to senior management positions is possible with experience. There is no mobility between the different types of managers in this group.

By the numbers

Quick look

670

employed in 2016

88.7%

employed full-time

26.3%

self employed

39.1%
Icons/female Created with Sketch.
60.9%
Icons/male Created with Sketch.
48.4

median age

Compared to: All Management

44,250

employed in 2016

91.2%

employed full-time

18.9%

self employed

40.5%
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59.5%
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48.7

median age

Where will I likely work?

69.6%

Halifax

12.6%

North Shore

7.4%

Annapolis Valley

6.7%

Southern

3.7%

Cape Breton

Compared to: All NS Occupations

47.0%

Halifax

15.6%

North Shore

12.9%

Annapolis Valley

12.7%

Cape Breton

11.8%

Southern

Top Industries of Employment

67.2%

Finance and insurance

28.0%

Real estate and rental and leasing

1.6%

Management of companies and enterprises

1.6%

Construction

1.6%

Retail trade

What is the age of Employment?

32.0%

45-54

21.0%

35-44

17.0%

55-64

17.0%

25-34

12.0%

65+

2.0%

15-24

Compared to: All Management

30.7%

45-54

23.1%

35-44

21.7%

55-64

14.0%

25-34

7.8%

65+

Top levels of education

37.3%

Bachelor

$81,295 median annual income
23.1%

College Diploma

$66,678 median annual income
15.7%

High school

$48,507 median annual income
10.4%

Master

$92,836 median annual income
8.2%

Trade Certification

$74,880 median annual income

Compared to: All Management

27.2%

Bachelor

$71,875 median annual income
23.8%

High school

$42,294 median annual income
20.4%

College Diploma

$50,256 median annual income
9.1%

Master

$93,261 median annual income
7.2%

Trade Certification

$44,396 median annual income

Education & training

Business Administration and Management

College, Trades, or University Program

These programs prepare students to plan, organize, direct, and control the functions and processes of a firm or organization. They include courses in management theory, human resources management and behaviour, accounting and other quantitative methods, purchasing and logistics, organization and production, marketing, and business decision-making.

Institutions providing this program

Maritime Business College

Lower Sackville, NS

Academy of Learning Career College - Halifax

Halifax, NS

Acadia University

Wolfville, NS

Dalhousie University

Halifax, NS

Mount Saint Vincent University

Halifax, NS

Universite Sainte-Anne

Pointe-de-l'Église, NS

St. Francis Xavier University

Antigonish, NS

Saint Mary's University

Halifax, NS

Cape Breton University

Sydney, NS

Dalhousie University Faculty of Agriculture

Truro, NS

Nova Scotia Community College - Annapolis Valley Campus

Middleton, NS

Nova Scotia Community College - Cumberland Campus

Springhill, NS

Nova Scotia Community College - Burridge Campus

Yarmouth, NS

Nova Scotia Community College - Kingstec Campus

Kentville, NS

Nova Scotia Community College - Lunenburg Campus

Bridgewater, NS

Nova Scotia Community College - Pictou Campus & School of Fisheries

Stellarton, NS

Nova Scotia Community College - Strait Area Campus & Nautical Institute

Port Hawkesbury, NS

Nova Scotia Community College - Marconi Campus

Sydney, NS

Nova Scotia Community College - Truro Campus

Truro, NS

Nova Scotia Community College - Ivany Campus

Dartmouth, NS

Nova Scotia Community College - Online Learning

Various, NS

Business/Commerce

College, Trades, or University Program

These programs focus on the general study of business, including the processes of interchanging goods and services (buying, selling and producing), business organization, and accounting as used in profit-making and non-profit public and private institutions and agencies. They prepare students to apply business principles and techniques in various occupational settings.

Institutions providing this program

Dalhousie University

Halifax, NS

University of King's College

Halifax, NS

Universite Sainte-Anne

Pointe-de-l'Église, NS

Saint Mary's University

Halifax, NS

Economics

College or University Program

These programs focus on the systematic study of the production, conservation and allocation of resources in conditions of scarcity, together with the organizational frameworks related to these processes. They include courses in economic theory, microeconomics and macroeconomics, comparative economic systems, money and banking systems, international economics, quantitative analytical methods, and applications to specific industries and public policy issues.

Institutions providing this program

Acadia University

Wolfville, NS

Dalhousie University

Halifax, NS

University of King's College

Halifax, NS

Mount Saint Vincent University

Halifax, NS

St. Francis Xavier University

Antigonish, NS

Saint Mary's University

Halifax, NS

Cape Breton University

Sydney, NS

Finance

College or University Program

These programs prepare students to plan, manage, and analyse the financial and monetary aspects and performance of business enterprises, banking institutions, or other organizations. They include courses in principles of accounting, financial instruments, capital planning, funds acquisition, asset and debt management, budgeting, financial analysis, and investments and portfolio management.

Institutions providing this program

Acadia University

Wolfville, NS

Dalhousie University

Halifax, NS

Mount Saint Vincent University

Halifax, NS

St. Francis Xavier University

Antigonish, NS

Saint Mary's University

Halifax, NS

Cape Breton University

Sydney, NS

Nova Scotia Community College - Akerley Campus

Dartmouth, NS

International Business

College or University Program

These programs prepare students to manage international businesses and/or business operations. They include courses in the principles and processes of export sales, trade controls, foreign operations and related problems, monetary issues, international business policy, and applications to doing business in specific countries and markets.

Institutions providing this program

Dalhousie University

Halifax, NS

University of King's College

Halifax, NS

Universite Sainte-Anne

Pointe-de-l'Église, NS

St. Francis Xavier University

Antigonish, NS

Saint Mary's University

Halifax, NS

Nova Scotia Community College - Truro Campus

Truro, NS

Employment requirements & contacts

Regulations

Insurance Adjusters

Right to Title and Practice: This job is regulated. The job title is protected, and you may not use it without a professional licence. A licence shows that the holder has met provincial requirements and is required to legally do this work.

Regulating body:
Nova Scotia Department of Finance and Treasury Board- Office of the Superintendent of Insurance
PO Box 2271
Halifax, NS B3J 3C8
(902) 424-6331
(902) 424-1298
Real Estate Appraiser

Right to Title and Practice: This job is regulated. The job title is protected, and you may not use it without a professional licence. A licence shows that the holder has met provincial requirements and is required to legally do this work.

Regulating body:
Nova Scotia Real Estate Appraisers Association
5670 Spring Garden Road, Suite 602
Halifax, NS B3J 1H6
(902) 422-4077
(902) 422-3717
Mortgage Broker

Right to Practice: This job is regulated in Nova Scotia. A licence shows that the holder has met provincial requirements and is required to legally do this work.

Regulating body:
Service Nova Scotia and Municipal Relations
Mail Room, 8 South, Maritime Centre 1505 Barrington Street
Halifax, NS B3J 3K5
(800) 670-4357
(902) 424-0720
Real Estate Agent

Right to Practice: This job is regulated in Nova Scotia. A licence shows that the holder has met provincial requirements and is required to legally do this work.

Regulating body:
Nova Scotia Real Estate Commission
7 Scarfe Court, Suite 200
Dartmouth, NS B3B 1W4
(800) 390-1015
(902) 468-1016
Securities Agents, Investment Dealers, and Brokers

Right to Practice: This job is regulated in Nova Scotia. A licence shows that the holder has met provincial requirements and is required to legally do this work.

Regulating body:
Nova Scotia Securities Commission
PO Box 458
Halifax, NS B3J 2P8
(855) 424-2499
(902) 424-4625
Customs Broker

Not Provincially Regulated: This job may be regulated by a federal regulatory body.

Regulating body:
Canada Border Services Agency
1969 Upper Water Street
Halifax, NS B3J 3R7
(800) 461-9999

Contacts

Insurance Institute of Nova Scotia
Nova Scotia, Canada
Canadian Institute of Management - Maritimes
Various, NS
Nova Scotia Real Estate Commission
Bedford, NS
Canadian Securities Institute
Toronto, ON

Additional resources

There are no additional resources for this occupation.