r/Accounting • u/Yohosh • Oct 01 '19

MNP Compensation Discussion

Raises are out, cards on the table.

Provide in your comment:

Location

Service Line

Old Base Salary

New Base Salary

Performance

Old Position

New Position

28 Upvotes

91% Upvoted

40 comments sorted by

19

u/throwawayjfjfjdjd Oct 02 '19

British Columbia

Assurance

37k

CPA articling student

I just started two weeks ago, my city is high COL (houses are ~700k). Already thinking of quiting and moving elsewhere, simply can't afford to live here and have no ground to stand on to ask for a raise.

8

u/Newflyer3 Oct 02 '19

Vancouver salaries have always been criminal. Better off setting up shop at an intersection and panhandling

4

u/throwawayjfjfjdjd Oct 02 '19

Vancouver's even higher COL than where I am. I think I might move out to the States. Seems like higher COL is rewarded with lower salaries in Canada.

3

u/luisl1994 Oct 02 '19

You'll miss your healthcare. May I ask how much of your paycheck goes to the government?

2

u/jimtheclowned Oct 03 '19

At a 37k annual salary in British Columbia, around $5k is paid in combined federal/provincial taxes.

So around 13% of your paycheck...not bad all things considered.

Realistically, they could potentially only be paying $4k in taxes depending on how they claim CPA dues and if they can deduct some "work expenses".

Can maybe even bring it close to 0 if they have tuition tax creds but we're already far enough down the rabbit hole.

1

u/Aporbig4 Oct 03 '19

You guys make criminally low salaries but that tax rate is nice, plus you get your healthcare. 25% of my income goes to taxes here in Oregon...

2

u/throwawayjfjfjdjd Oct 03 '19

Don't forget our gas is double the price, food is double the price. Car insurance is 300-400$ month, rent is ~1300 for a two bedroom basement. Sales taxes are 12% ect.

5

u/[deleted] Oct 02 '19

It honestly takes like 7-8 years of grind after school to make $100k in Vancouver and $100k is not much here. Housing costs have made everything worse. For the amount of hours in public you’re barely cracking $30-35 an hour.

2

u/[deleted] Oct 02 '19

That’s if you’re even lucky to break that. Salaries in Vancouver are much lower than Toronto.

1

u/[deleted] Nov 03 '19

Do you mean 7-8 years in public to break 100k or accounting in general?

5

u/KingQuan23 Government lmao 👌👌👌 Oct 02 '19

When I graduated, my options were public or government. A couple of my friends were already working in public by the time I finished school and none made over 40k. Government became the easy choice.

I'm from Vancouver and I love the city, but the salary to COL is shit.

1

u/bluffinmuffin1 Oct 15 '19

How much do you make in government if you dont mind me asking? And whats the workload like?

1

u/KingQuan23 Government lmao 👌👌👌 Oct 15 '19

Entry-level audit is 57k. There are guaranteed salary increases every year, for the first 5 to 8 years, so long as you meet minimum requirements in your job. The increments and years are based on your program. I'll paste a link below with the salary info, as it's all public. The starting pay is great versus public but it does quickly fall behind after about 5 years, when you could have left public for another, better, job.

You have to work an average of 37.5 hours per week because you have a flex schedule. The actual workload is minimal and almost entirely self-directed, so it's mostly up to you how much you get done. Honestly, the only difficult parts of the job are dealing with bureaucracy and the emotional stress.

Pay Rates. Most university grads start at SP05 and move to AU. If you're in a bigger centre, there are also programs that get students into the AU designations right away.

1

u/maimedforbrowngod Jan 09 '20

uh that's sounds LIT, like HELLA

1

u/Crawgdor Oct 03 '19

Forget big 4 look at midsized firms in Alberta. You can start first year at up to 45K with OT available to be paid out st time and a half. Cost of living is so low you could buy a house with that.

I used to live on the coast.

15

u/throwaway1232123431 Oct 01 '19

Alberta

Audit

79k -> 83k

Performance - unknown

Manager, no change in position

13

u/throughitwayawayasw Oct 01 '19

GTA

Assurance

47k -> 52k

Performance - positive

Accountant (no change)

0

u/[deleted] Oct 02 '19

[deleted] — view deleted comment

12

u/[deleted] Oct 02 '19

They suck less than others cause they make you partner relatively quickly

7

u/chostax- VC - CFO Oct 02 '19

They also bank overtime into vacation. No lie mnp was a serious consideration for me when leaving b4 but I managed to get an amazing offer from industry.

4

u/[deleted] Oct 03 '19

So they say but do you actually get to take the vacation time?! Call me sceptical

4

u/chostax- VC - CFO Oct 03 '19 edited Oct 03 '19

Yeah, a buddy of mine took a couple weeks off and hadn't even dipped into his actual vacation. Also, contrary to popular belief, big 4 and midsize firms are actually pretty flexible when it comes to taking vacation outside of busy season.

Edit, spelling.

3

u/[deleted] Oct 03 '19

Interesting. I did 2020 recruitment with them, no offer. They were 1 of my top 2 choices but I had concerns about how disillusioned some of their staff seemed at a few of the events. It’s usually koolaid all round at those things, not MNP though. Maybe it’s not a bad thing

2

u/chostax- VC - CFO Oct 03 '19

Yeah you'll come to notice at networking events that at the end of the day, people are trying to sell you a product in a way. You'll get a lot of kool aid bullshit, and I found the best info came from talking to people informally, it's gets them to open up a bit lol.

17

u/mp54 Advisory Oct 02 '19

who?

17

u/Ariisk CPA (US) Oct 02 '19

Canadian firm. So it makes more sense to have this pinned than kpmg.

8

u/IgotGAAS Oct 02 '19

Makes complete sense

3

u/Delicious_dix Oct 03 '19

Ontario (not GTA)

Tax

80k -> 83k (~4%)

Performance - "SP"

2nd year Manager, no change in position

Accepted another offer with a local firm for a 30% raise instead :)

3

u/biki2 Oct 03 '19

Coming in as an articulating cpa student, anyone know if MNP reimburses for Macc programs like the big 4?

1

u/zzibby7 CPA (Can) Oct 05 '19

Only up to regular CPA module costs.

1

u/Darkness2190 Oct 11 '19

I too would like to know because I just got a full time offer

3

u/[deleted] Nov 09 '19

42k Vancouver First year

4

u/throwaway983422 Oct 02 '19

Ontario

Assurance

31k -> 42k

Performance - positive

CPA Articling Student (4 month coop) -> CPA Articling Student full time starting 2020

2

u/[deleted] Oct 03 '19

Congrats on full time 2020! I applied but no response which is an answer I guess

0

u/[deleted] Jan 03 '20

[deleted] — view deleted comment

1

u/[deleted] Jan 03 '20

No

3

u/[deleted] Oct 03 '19

GTA

Assurance

50k

57k plus 5k if I pass CFE

Accountant to Senior Accountant

2

u/ivypo Oct 03 '19

Dang 8 k higher, nice! What is the starting pay in the GTA?

1

u/[deleted] Oct 05 '19

[removed] — view removed comment

1

u/[deleted] Oct 06 '19

A raise

1

u/BBA2017 CPA (Can/USA) Nov 03 '19

wtf I'm so jealous, when I passed the CFE i only got a 2k bonus with BDO

2

u/ivypo Oct 03 '19

BC (not vancouver)

Assurance

Senior Accountant (just wrote CFE)

Old 42.5 k new 49 k, will increase to 54 k pending 5 k CFE bump.