Business Career In The Canadian North

1603 words - 7 pages

The Canadian North is an often misunderstood place. The average person would picture a cold, barren tundra void of human existence. Before taking this course, I used to have the same mindset of the average person, thinking that my cottage was as bearable as the North got. This course has opened my eyes to a better idea of what the North is and what it has to offer. As a business student, I learn to spot opportunity and exploit it for financial gain, ultimately creating value for the surrounding community and stakeholders involved. When I look at the North I no more see barren tundra, but I see a foundation of what could be. The Canadian North has potential, and as a business-minded student, ...view middle of the document...

Northern Securities is an Investment Bank that deals with many small-cap companies that are situated in Northern Alberta, Saskatchewan, Northwest Territories and Nunavut. When looking into the companies transaction history I found that there were mergers and acquisitions, capital restructuring, and dealings of IPO’s. Much of their clientele were northern mining companies (“Northern Securities”).
I noticed many jobs posted online focus around the land. This, of course, makes sense. This is what is valued in the north; much more than cities closer to the southern border. It has to do much with the values that the Inuit not only hold dear to their hearts but physical need for survival – which is less and less these days. Most of the positions available regarding a general business position fall under one of the following categories: administration, non-profit/environmental organizations, medical care or resource management (oil and gas, mining etc.). Nunavut’s government website does offer many different types of jobs in a variety of cities. For example, the Department of Finance was looking for a Senior Finance Officer. The SFO would be paid $80,652 and have a Northern Allowance of $19,716. Many job postings also offered a Northern Allowance along with an annual salary. This is probably due to “the high cost of living in the North” ("CBCnews: North"). The job posting websites tailored to the North stated in almost every job “Experience working and living in the Canadian North is preferred” ("jobsnorth.ca").
I also looked at regular job posting websites; ones that didn’t cater to job seekers with a northern aspiration. There were not many banking job available online. The university level jobs posted on Jobsnorth.ca are mainly engineering, or executive positions at health and services companies, which do slightly tweak my interest, but are not exactly what I am looking for in a career. Most of my research had led me to conclusion that oil and gas, diamond, and gold companies, operating deep within the north, base their firm in a popular city or region. A mining company called Mountain Province Diamonds will soon have the Gahcho Kué mine fully operational in the Northwest Territories, located at Kennady Lake, approximately 280 km northeast of Yellowknife. Even though they are a major contributor in the North’s economy, they are based out of downtown Toronto, nowhere near latitude 60. Working in the downtown core, and occasionally having to make trips up to The Northwest Territories is likely the most I am going to contribute to the Canadian North.
Although there may be available jobs now, it is what lies in the future that will determine the role I will play in the north, should my career lead me there. An industry that genuinely interests me is the future of the carbon credits market. What is a carbon credit? It is a permit that allows the holder to emit one ton of carbon dioxide. The goal of the carbon credit system was to stop the increase...

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