Insurance, real estate and financial brokerage managers
High opportunity occupation
Career Overview
Insurance, real estate and financial brokerage managers negotiate, organize and direct the activities of companies or departments that provide insurance, mortgages, real estate or investment services.
Job Titles
Duties
In general, insurance, real estate and financial brokerage managers:
- Promote business development
- Ensure performance goals are met
- Make sure all related laws, regulations and standards are followed
- Hire, train and manage staff
Specifically:
- Insurance managers oversee organizations that provide insurance services
- Real estate managers run operations that buy, sell and lease residential and commercial property
- Mortgage broker managers manage businesses that find lenders for clients seeking home loans
- Financial brokerage managers direct companies or departments that buy and sell stocks, bonds and other investments, and manage the investments of their own clients
Earnings
Earnings is income that workers receive in exchange for their labour. Depending on the type of employment, earnings can be in the form of wages (hourly), salaries (fixed monthly or annual) or self-employed earnings.
Work Environment
# Workers Employed
6,790% Employed Full Time
71%Insurance, real estate and financial brokerage managers usually work for insurance companies, real estate firms, stockbrokers, investment dealers or financial institutions like banks or credit unions.
Most of this work takes place in a structured office setting. But with new technology, parts of the job can now be done remotely.
Career Pathways
Workers usually begin their careers as brokers in their chosen field. With experience, brokers can move into management positions.
With more experience, insurance, real estate and financial brokerage managers may advance into senior management positions. Some start their own firms.
Insurance, real estate and financial brokerage managers have separate roles, and workers cannot simply move from one area to another. An insurance manager, for example, must retrain in order to become a real estate manager.
Related Careers
Occupational Interests
It’s important to understand what kinds of occupations align with your interests.
For more about occupational interests visit Skills for the Future Workforce > Characteristics.
Here are the top occupational interest(s) for this career profile:
Education, Training and Skills
Insurance, real estate and financial brokerage managers need:
- A university degree or college diploma in business administration, economics or a related field
- Several years of experience within their specific industry
- A recognized professional designation
Depending on the role, licensing may also be required.
Education programs in B.C.
The following program areas are related to this occupation:
- Business Administration/Management/Commerce
- International Business
- Economics (Arts)
- Economics (Science)
- Economics
Skills
Every job calls for a certain set of skills. Knowing those skills is the first step in finding a good career fit.
Here, you will find the 10 most relevant workplace skills. Some are more important to achieving success in a certain career than others. These skills may come naturally to you or you may need to gain them through education, training and experience.
See the list of work-related skills below, ranked in order of importance for this career. Check out the list and see if this career matches your skills—take that first step!
Understanding written sentences and paragraphs in work-related documents.
Talking to others to share information effectively.
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Communicating effectively in writing as appropriate for the needs of the audience.
Being able to solve novel, ill-defined problems in complex, real-world settings.
Understanding how new information could be used to solve current and future problems in making decisions.
Keeping track of and assessing your performance, other individuals, or organizations to make improvements or take corrective action.
Adjusting actions in relation to others' actions.
Labour Market Statistics
Discover data, facts and information that have been gathered and analyzed. Learn about the characteristics of the economy and labour market in B.C.
Employment
Find out about employment types and trends by region and industry.
Employment
6,790Employment by Region
| Region | Employment | % Employment of this Occupation |
|---|---|---|
| Cariboo | 40 | 0.6% |
| Kootenay | 60 | 0.9% |
| Mainland/Southwest | 5,475 | 80.6% |
| North Coast and Nechako | 20 | 0.3% |
| Northeast | 10 | 0.1% |
| Thompson-Okanagan | 535 | 7.9% |
| Vancouver Island/Coast | 655 | 9.6% |
Labour Market Outlook
The B.C. Labour Market Outlook is a 10-year forecast of the expected supply and demand for labour in the province. It’s usually updated every year. The purpose is to provide British Columbians with the knowledge to make informed decisions on careers, skills training, education and hiring.
Forecasted Job Openings (2024-2034)
3,850Forecasted Job Openings
Forecasted Employment Growth Rate
Composition of Job Openings
Job Openings by Region (2024-2034)
| Region | Job Openings | Avg. Annual Employment Growth |
|---|---|---|
| Cariboo | 20 | -0.3% |
| Kootenay | 60 | 1.0% |
| Mainland/Southwest | 3,060 | 1.4% |
| North Coast and Nechako | Not available | Not available |
| Northeast | Not available | Not available |
| Thompson-Okanagan | 340 | 1.3% |
| Vancouver Island/Coast | 360 | 0.8% |
Industry Highlights
Learn about the opportunities in B.C.'s major industries, including employment trends, earning potential, locations of work and more.
Forecasted Job Openings by Industry
| Industry | Job Openings (2024-2034) |
|---|---|
| Finance, Insurance and Real Estate | 3,680 |
| Construction | 100 |
| Professional, Scientific and Technical Services | 30 |
| Transportation and Warehousing | 10 |
| Retail Trade | 10 |
Insights from Industry
Employers seeking insurance, real estate and financial brokerage managers often prefer to hire from within the company.
The role of financial brokerage managers is growing. In addition to their traditional duties, they also oversee and manage private bankers who provide loans to their clients.
Resources
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British Columbia Real Estate Association (BCREA)www.bcrea.bc.ca
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Canadian Mortgage Brokers Association of British Columbia (CMBA-BC) – Careerswww.cmbabc.ca/careers
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Canadian Securities Institute (CSI)www.csi.ca/student/en_ca/home.xhtml
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Insurance Council of British Columbiawww.insurancecouncilofbc.com
