LinkedIn is the top business networking site where professionals can connect with one another, build a network, and even search for and post job opportunities. So, it comes as no surprise that the company has acquired tons of useful data about the job market in Canada over the years. And LinkedIn’s recently released Get Ahead Special Report provides fascinating data on promotions, in particular, looking at what jobs, industries, and locations throughout Canada offer the best odds of getting one.
The report, which looks at internal promotion rates compared to the national average over the last year, reveals that the top position for promotions is product manager with an internal promotion rate that’s 120% higher than the national average. Second to that job is marketers with a 68% higher internal promotion rate and accountants at a 51% higher rate.
When it comes to specific industries, finance has the biggest internal promotion rate, 46% higher than the national average, followed by media and communications (39% higher), and software and IT services (39% higher).
Not surprisingly, if you live in the Greater Toronto Area (GTA) in Ontario, you have a 27% higher chance of getting internally promoted than in other cities and locales across Canada. Greater Vancouver’s metropolitan area offers great promotional benefits as well at an internal rate 11% higher, and greater Kitchener-Cambridge-Waterloo’s metropolitan area, known for being a tech and research hub in Canada, is 4% higher. Product management positions offer the best promotion rate in Toronto, Vancouver, and Montreal; marketing jobs in Waterloo, Toronto, and Vancouver; and accounting positions in Vancouver, Halifax, and Toronto.
Promotion rates are also high for human resources, program and project management, finance, business development, quality assurance, sales, and consulting positions in cities like Waterloo, Toronto, Vancouver, Halifax, Montreal, and Ottawa.
What Does This Mean?
Of course, these results don’t necessarily mean that if you work in one of the top three positions, the top three locations, or the top three industries, you are guaranteed to be promoted. But if you’re looking for a career path that offers a better than average opportunity at moving up, these factors are all worth considering, particularly if you’re willing to relocate or looking to upskill in a new field.
Also, keep in mind that industries and jobs are also constantly ebbing and flowing. For example, LinkedIn notes that accountant positions only held the number-four position in the same report in 2019, then fell to sixth place in 2020, only to rebound once again in 2021. Thus, will these same three positions still be tops by the end of 2022? That remains to be seen.
The Survey and Limitations
The survey was conducted between November 2020 and October 2021 through LinkedIn’s Economic Graph team analyzing internal promotion data from companies that have more than 10 employees. Internal promotions from internship positions and C-suite roles to the position of owner or partner were excluded from the analysis.
Note, then, that the survey data doesn’t reflect promotions at smaller businesses of fewer than 10 people, nor does it include people who were promoted by moving from one company to a higher position in another.
What’s more, LinkedIn notes that these are all types of positions most likely to be found in larger companies, which could skew the numbers in their favour. Indeed, positions like accountants might often be outsourced by smaller companies, while smaller companies might only require one product manager or marketer working with assistants, thus not leaving much room for advancement in those positions since employees effectively start at the top.
A Note About Unemployment
It’s worth noting that regardless of the position, one good piece of news is that a Statistics Canada report found that the Canadian job market was doing well in November 2021, with 154,000 new positions added throughout the month. The unemployment rate also fell to 6% from 6.7%, which is closer to levels prior to the pandemic.
Because of this data, which marks the sixth month in a row of job growth, there’s speculation that the Bank of Canada may raise interest rates in Q1 2022.
The important thing to note is that every job, regardless of the position, is a learning experience and provides an opportunity to add to your resume and enhance your skills. With that said, promotions are essential for those who want to continue advancing their careers. And finding the best job, in the right city, with the right company, is critical in increasing your chances of moving up in the business world.
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