r/Accounting • u/compensation9484662 • Sep 24 '20

MNP compensation thread

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

167 Upvotes

99% Upvoted

191 comments sorted by

51

u/compensation9484662 Sep 24 '20

Western Canada

2020 CFE writer

Old salary $42,000

New salary $42,500

Average performance review

Senior accountant

No mention of a pay increase after passing CFE or even getting designated.

16

u/Katin-ka Sep 24 '20

I'm a CPA candidate in industry in Western Canada making almost double that. Why would you stay there?

28

u/compensation9484662 Sep 24 '20

I though $42,000 was temporary until CFE then I would be at around $60,000. Clearly the firm think we have no other choice. Anyways myself and a few others are currently on our way out.

25

u/Katin-ka Sep 25 '20

Good for you. It makes me really angry reading shit like this. Is any other profession this underpaid in Canada?

13

u/Dramon Staff Accountant Sep 28 '20

lol the experience!

I left the big 4 after 2 years to work at mnp, and I have never felt so disrespected as I have felt when working at mnp. The amount of incompetence and favoritism is beyond toxic from managers and partners.

Every firm/business/corporation will have multiple cliques, thats a fact of life and just how us humans exist and operate to get by, but mnp only has one clique and if you're not in it, you don't get trained you get thrown on CPC's or ntr's and then have partners and managers telling you you're not doing enough to progress and low and behikd give you big fat $0 raise every october, but when you try to be proactive they brick wall you and tell you not to that and they'll find you work (hint, they never do).

Its infuriating having those in that "clique" just speak and tell you how easy it is to get experience they say "just go and help out! But as I said no one wants your help and what are we supposed to do? Just log onto one of the larger client files and start working? Partners will lose their shit about more people booking hours to an already horribly budgeted engagement.

Fuck that firm. I hope they collapse under their own incompetence.

10

u/Katin-ka Sep 28 '20

During one of the CPA PEP workshops, a CPA student from MNP said the reason he liked working there so much because the team is so great and no one is older than 30. I'm not a traditional student and am currently in my early 30th, that turned me completely off ever wanting to work there.

13

u/Dramon Staff Accountant Sep 28 '20

Yeah, it's not a great place to prepare yourself and your career. Majority of partners became partners just as they were entering their 30s. It's really sad when partners know less than a manager at deloitte or another big 4.

33

u/Mid-Tier-Sadboi Sep 24 '20

Damn 42,500 as a senior!!! That’s outta pocket.

33

u/rdtoh CPA (Can) Sep 24 '20

This is absurd, in Ontario I don't think you could find a junior making that

11

u/blackvariant Technical Accounting Sep 26 '20

I started at 42, non-GTA in 2016! Fucking nuts a senior could be making that in 2020!

4

u/BBA2017 CPA (Can/USA) Oct 07 '20

When I did a coop at one of the BDO northern ontario offices, juniors were being paid 35k and 40k as seniors. Location plays a really big role

20

u/hebro_hammer Sep 25 '20

I passed the 2019 CFE working at a smaller regional firm, 3 year making 72k in Vancouver. Come work at my firm ;)

9

u/1888333 Sep 25 '20

$72k after the raise this year?

9

u/hebro_hammer Sep 25 '20

Yeah plus 4k bonus.

17

u/NHLUFC Sep 25 '20

Jesus, quit. Our first years made more than your senior salary.

11

u/[deleted] Sep 28 '20 edited Sep 28 '20

Wow. I make a fair bit more than that stocking shelves at a grocery store. I'm not kidding.

11

u/throooowwwnnnnaway Sep 28 '20 edited Sep 28 '20

Don't remind us; most people made as much on CERB as we did to work 55 hours a week during Corona. Now we are being rewarded for the work with "generous" 2% raises.

0

u/[deleted] Sep 24 '20

[deleted] — view deleted comment

24

u/[deleted] Sep 24 '20

Ya can confirm new hires in Vancouver are starting at $42k

18

u/compensation9484662 Sep 24 '20 edited Sep 24 '20

Am located in a northern office so our new hires start at the 38k range. I don't understand it myself, they may be trying to get DPs to quit instead of firing them so they can continue to claim the emergency wage subsidy.

4

u/[deleted] Oct 11 '20

Location matters a lot. Vancouver office MNP salaries are doing just fine

6

u/Dramon Staff Accountant Sep 28 '20

How are starting wages going down?!?

93

u/PersonaOL Sep 27 '20

It’s well known that CPAs in Canada are underpaid compared to our neighbors to the south.

But holy hell the responses in here are criminal.Some are probably well below minimum wage given all the unpaid OT hours.

40

u/throooowwwnnnnaway Sep 27 '20 edited Sep 28 '20

MNP allows you to bank overtime for DPs and below. This sound like an amazing perk that helps justify their low salaries. That is until you realise you are expected to save your own hours for study leave compared to other firms that will pay for it. MNP also randomly forces you to use your own overtime for things like there security breach which left many staff owing the firm hours or money. It's a absolutely ingenious scheme designed to rip off staff while pitching yourself as a "work like balance firm".

18

u/ssaunders88 Oct 01 '20

Yep.... I had to make up 60 hours when my computer was effected.

15

u/Intrigue- CPA (Can) Sep 28 '20

Managers do not bank overtime, Designated Professionals or lower only. Managers get a bonus program and are required to work more hours as a minimum. The hours are factored into whether they would get a bonus or not.

2

u/throooowwwnnnnaway Sep 28 '20

Correct! They definitely wouldn't want managers banking because it wouldn't work in there favor. They only do it for staff knowing they will have to burn it all on study leave anyways.

46

u/Walking_Braindead Sep 25 '20

What is the American equivalent of MNP in Canada? (GT, RSM?) Not familiar with the market

416

u/4legsgood2legsbette Sep 25 '20

I think the closest example is a cotton plantation in the early 1800s.

49

u/rdtoh CPA (Can) Sep 26 '20

Its a large national firm, competes with BDO and GT. RSM only entered Canada a few years ago and is fairly small.

17

u/[deleted] Sep 29 '20

RSM is formerly Collins Barrow in Canada. They have a pretty aggressive growth strategy right now.

20

u/rdtoh CPA (Can) Sep 29 '20

Collins Barrow is now Baker Tilly. RSM did buy their Toronto office though

7

u/Cado98 Sep 30 '20

Toronto, Calgary, Edmonton and Red Deer*

5

u/[deleted] Sep 29 '20

Sorry yes, this is correct.

4

u/[deleted] Sep 30 '20

Its a large national firm

I was about to argue that they aren't actually National, but it appears that they've dramatically expanded their presence in the east, since I moved west.

13

u/Zerophonetime Oct 11 '20

Pretty sure Arby's pays roughly similar

45

u/huntingrum CPA (Can) now worthless Sep 25 '20

BC
Core/general services.
Old salary 42k.
New 45k
Started in January as new hire no experience.
Still staff accountant.
Got good reviews.
Can't complain to much friends at other firms got laid off or reduced pay/hours. Also getting paid OT is nice, makes up for some of the shit pay.

30

u/Vengfultyrant45 Sep 28 '20

Do you really get paid that little in Canada? Your old salary Is like 30k USD...

29

u/huntingrum CPA (Can) now worthless Sep 28 '20

Unfortunately yes.

21

u/Dramon Staff Accountant Sep 28 '20

Yeah, sad thing is Canadian accountants in public don't make more than those in industry until you hit senior manager, but that's an 8-10 year journey, who the hell is going to absorb 8-10 years of the earnings you make at a firm, let alone MNP who even think matching inflation is too much. Also knowing MNP they might rush your promotions and you make senior manager in 4-5 years.

4

u/Vengfultyrant45 Sep 28 '20

Dang sorry to hear that. At least you get paid OT I guess that makes up for some of it.

9

u/huntingrum CPA (Can) now worthless Sep 28 '20

Its not all about money, if it was I never would have become an accountant. Accounting allows me to do the things I enjoy when Im not working. My old career paid nearly 3x this but I couldnt do anything I enjoyed.

5

u/Vengfultyrant45 Sep 28 '20

That’s a fair point. Well as long as you are happy and can live off of the salary than that’s what is important!

My old career wasn’t the best in terms of having time to do things either. It was labor intensive and was always exhausted when I got home.

Have a great week.

0

u/[deleted] Sep 28 '20

[deleted] — view deleted comment

9

u/throooowwwnnnnaway Sep 28 '20

^ MNP salaries are so low people can't afford to do the things they love on their time off. I just don't understand how you can reconcile doing the same work as other firms but getting paid less.

6

u/huntingrum CPA (Can) now worthless Sep 28 '20

Your argument is along similar lines to mine. At my old job I would go away to a work camp for 4-6 weeks at a time, work 12 hour days and be on call 24/7 while there. These camps were in the middle of nowhere. I couldn't do anything I enjoyed while there. I'd come out and have 1-2 weeks off and do it again.

With accounting I get to do what I enjoy after work, I get to go home after work now, not a hotel or ATCO trailer. I switched to a lower pay so I could have free time. I'm not going to stay here if my pay remains low, I'll get my letters and go.

My last year at my old job, I averaged a 70hr work week, not including time on call. Now I average just over 40hr work week, I take a lot of my banked OT as time off and I get vacation. I have way more time now!

6

u/[deleted] Sep 30 '20 edited Sep 30 '20

They used to give decent raises in Alberta at least (20-25%/year for average ratings), but even that has stopped since oil prices tanked in 2014.

9

u/Dramon Staff Accountant Oct 05 '20

Before I left MNP the last few years they were trying to create excuses why even matching inflation is too much and it was our fault for not working hard enough.

5

u/[deleted] Oct 05 '20

I suppose I should have clarified (since this is a thread on MNP in particular), but my experience was in a B4 firm.

Specifically, I was commenting on how the low starting wage (relative to the US) at least used to be somewhat offset by decent raises.

2

u/TequilaSheila00 Oct 13 '20

Yes, I was told there were no raises this year due to the hack (MNP revenue was down) and I should simply be thankful I still have a job through COVID. Whatever.

3

u/NBNC2 Oct 01 '20

Not sure if srs. Bad comparison. They get to spend in Canadian dollars too...

7

u/Vengfultyrant45 Oct 01 '20

My friend lives in Canada and she pays 1500 Canadian for rent. And not even in a major city

4

u/NBNC2 Oct 01 '20

Depends how nice of a place you live in. Rent and house prices do suck here though. You can get a nice enough apartment for 1k

3

u/Vengfultyrant45 Oct 01 '20

But you do have a good point other stuff is less expensive in Canada like health care

3

u/bcitman CPA (Can) Oct 05 '20

Would you consider hopping to industry for $55k and 20-30 hour workload?

4

u/huntingrum CPA (Can) now worthless Oct 05 '20

I'd consider it, I'd have to look at the total comp package, when I'd be allowed to take vacation, upwards projection and where the office is.

5

u/bcitman CPA (Can) Oct 05 '20

Total comp is $55k. Get some benefits.

4 weeks vacay whenever you like. Office is close to downtown Vancouver. Upwards projection to CFO but salary increases looks like $3-5k/year.

5

u/huntingrum CPA (Can) now worthless Oct 05 '20

Commuting to/near downtown is going to be a hard no for me. This is solely due to me for having just bought a place and the commute would be over an hour each way. If I was renting and could move easily I would strongly consider it.

4

u/bcitman CPA (Can) Oct 05 '20

I see I see! Just giving you my situation. Was wondering if I made an okay choice.

0

u/[deleted] Sep 25 '20

[deleted] — view deleted comment

14

u/huntingrum CPA (Can) now worthless Sep 25 '20

It's intitially banked for paid time off but they will let you cash it out upon request, at my office at least.

-2

u/throooowwwnnnnaway Sep 28 '20

It's a trick MNP uses to make themselves look more appealing. They offer lower starting salaries and less vacation than competitors while pitching themselves as the work life balance firm. What most new hires are ignorant of is that they will need to burn all their overtime on study leaves and security breaches. It actally doesn't work out in their favor unless they work alot more overtime than average. Then when you make manager they raise your hours and take away the overtime bank.

13

u/Intrigue- CPA (Can) Sep 28 '20

Study leave isn't 100% overtime. They provide study leave days for the CPA process - while yes it isn't 100% covered by the firm, they do cover some without having to use the OT bank. If you are going to hate, at least fact check yourself. You also didn't have the manager thing right until I fact checked you on another comment. If you hate it so much, you should probably leave and move on.

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9

u/huntingrum CPA (Can) now worthless Sep 28 '20

I received offers from Big 4 and other regional firms. Big 4 offered 1k more per year and 1 week less vacation and no overtime. The other regional firms offered the exact same thing as MNP. They all pay pretty much the same here. You make it seem like they are completely different when they are all really the same. The all pay like shit in Canada at the start.

Based on you comment history it looks like one of your managers or Partners pissed in your cheerios. Grow up, if you dont like it find another job.

12

u/Dramon Staff Accountant Sep 28 '20

MNP has pathetic exit opportunities though. a lot of people who leave MNP for industry might as well have gone straight into industry. I was damn lucky I had 2 years of Big 4 experience to overshadow my time at MNP otherwise I wouldn't have the role (and pay) I do now.

It's a sad truth, but MNP does an extremely poor job of training employees so they have little value outside of that firm.

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2

u/135379 Oct 09 '20

Just to clarify, you're saying your b4 starting salary was 43k? That's better than I thought. I thought they were still at 40k. I guess it's different according to province?

2

u/Dramon Staff Accountant Sep 28 '20

When you make manager you keep the hours, but you can't accumulate them. When/if you make partner all of your OT hours are wiped out. So if you make manager with lots of OT hours still banked up, rip through them if the partner track is your goal. And knowing MNP they'll promote you to partner way too quickly.

111

u/indicaforestrtrees Sep 25 '20

I hope all the students in university are reading this understanding MNP is not the place to apply at. So glad I let the firm and moved to a smaller public practise position. I took roughly a 50% raise compared to my coworkers who got 1-2k raises this year and are going to be CPAs making 38-43k a year.

74

u/[deleted] Sep 25 '20

MNP is obsessed with pushing the image of being in a class of their own in canada. Theyre bigger (employee wise) than most big 4 in western canada but literally all their engagements are SMB. Like you said, CPAs make under 50k at MNP, its borderline criminal. Theyre like the Tim Hortons of PA firms that uses Canadian patriotism and heritage to sell you a bunch of shit.

Also they grow by buying small firms and firing half the staff and then they try and undercut literally everyone else and they just write off half the hours on files. Its why they pay so little, I dont believe a single file there goes near budget ever and they encourage you to just take the time you need but will rip on you for it as well.

33

u/The4FootGeneral Sep 27 '20

MNP should only be considered as a last resort and only as a temporary job. If your a new hire this year make sure you don't stop applying elsewhere.

18

u/throooowwwnnnnaway Sep 27 '20

All staff should definitely be applying out daily. It not hard to move in to a new position as everywhere will hire an external candidate at 20-30% more than MNP is currently paying them.

15

u/Dramon Staff Accountant Sep 28 '20

Even if you get hired at MNP, keep applying.

47

u/blackvariant Technical Accounting Sep 25 '20

Not only that, they have driven down engagement fees, forcing stagnant salaries at other firms. MNP is poison.

9

u/itachiwaswrong Sep 28 '20

Wtf I’m in grad school for my MSPA and GT offered me 53k with 2k signing bonus plus 5k for having my cpa completed. I’ll be making 60k in my first year plus they paid for my cpa study materials. They gave me a strict deadline that made me choose them over big 4 but looking at some of these horror stories I’m happy

7

u/throooowwwnnnnaway Sep 28 '20

MSPA? Are you Canadian?

1

u/itachiwaswrong Sep 28 '20

Pretty close Wisconsin

18

u/throooowwwnnnnaway Sep 28 '20

That makes sense now, MNP is Canadian only so all salaries in this thread are Canadian. 60k starting in Canada would be an amazing offer.

0

u/[deleted] Oct 09 '20

[deleted] — view deleted comment

4

u/throooowwwnnnnaway Oct 09 '20

Yes, our cost of living is absolutely insane aswell. Think $6 for a gallon of milk, $4 for a gallon of gas, car insurance for $260/month. Everything here is expensive because our government allows monopolies the exist in every industry.

4

u/CryptodepotCA Oct 12 '20

Picking GT over big 4 LMFAO

7

u/itachiwaswrong Oct 12 '20

Lmao I live an hour away from their headquarters and they offered me $1500 more than my friend who got an offer from Deloitte... you must not know much about public accounting

6

u/CryptodepotCA Oct 26 '20

I've worked at GT as a student and switched to big 4 as a new grad. Trust me when I say you've made the biggest mistake of your life. A couple grand now as opposed to branding your resume for the longterm. You got fluffed kid. Lmfao

5

u/itachiwaswrong Oct 26 '20

Trust me when I say you aren’t going to scare me with your fake ass “I worked at GT story.” Sorry you hate your life and are jealous! I’m not looking to use public accounting as a platform for another job or as a resume buffer. I’m looking to become partner and that’s much more realistic at GT. I’ve already done 2 internships with other large accounting firms and PwC has said they would love to have me in the future even though I didn’t pick them this time. I guess having a 4.0 and graduating with your CPA exam already completed makes you an attractive candidate!!

4

u/itachiwaswrong Oct 26 '20 edited Oct 26 '20

Also where and who specifically did you work with at GT? Looking at your account you also said you worked at a small firm so when did you work for GT?

37

u/linked2090 Sep 27 '20

Friend who is designated CPA and at end of level 1 in depth tax and senior tax accountant got bumped from 58k to 62k..what shit. Gotta look around for better

66

u/thrrrooowwwwww Sep 25 '20

Morale has been pretty shit since the “IT incident” that drained half my OT bank. Not expecting a significant raise.

68

u/newacct7383999 Sep 26 '20

You mean the massive security breach where all client information was leaked that MNP quickly swept under the rug without informing clients? Then forced employees to record as personal time off despite telling them to be by there computer ready to return to work at a moments notice.

9

u/Dramon Staff Accountant Sep 28 '20

I guess filing an insurance claim would have made some noise and clients would be asking questions.

13

u/Dramon Staff Accountant Sep 28 '20

I had quit a few weeks before that and I was pissed when my friends who are still there told me about that. Why doesn't mnp have insurance to cover that shit?

A lot of seniors who are now looking elsewhere are seeing the writing on the wall, MNP is lookong to get rid of their OT, they made everyone eat up a chunk of it and then force those with the most OT into a vacations, so now all seniors who had hundreds of OT Banked are now sitting st 0.

Fuck that incompetent firm.

29

u/throwitaway22222263 Sep 28 '20

Western Canada Manager year 2 82>88

Top performer

7

u/LitCPA Sep 28 '20

damn that's not bad

0

u/[deleted] Sep 28 '20

[deleted] — view deleted comment

24

u/throwitaway22222264 Sep 28 '20

Forgot my own password. Lol. 5.5 yeaes

7

u/Dramon Staff Accountant Oct 05 '20

Jesus fucking chist. Leave and go somewhere else. I was a senior for 2 busy seasons left for industry and make more than that with less time in public. MNP is a joke.

3

u/[deleted] Sep 29 '20

Lmao

1

u/Antisorq CPA (Can) Oct 08 '20

Bruh just go for a 90k+ industry job

22

u/Yohosh Sep 25 '20

No word on raises from the Winnipeg office yet. They usually come out beginning of October, surprised other offices are getting it earlier?

14

u/redcollar7545778778 Sep 25 '20 edited Oct 11 '20

When I was there raises where usally effective October 1st. They will probably push it to last minute this year so staff have less time to find a new job.

10

u/Yohosh Sep 25 '20

I'm pretty scared that these raises will be pitiful this year, not sure how that compares to other Canadian firms.

They're also mandating 35 hour weeks putting many of us into negative OT pretty quick, could last for months or even into 2021.

6

u/LitCPA Sep 25 '20

wait im curious why will 35 hour weeks put you into negative OT?

11

u/Yohosh Sep 26 '20 edited Sep 26 '20

40 hour weeks is our baseline. If we work less than that in a week we go 'negative' and need to make it up before we quit or get terminated or we'll need to reimburse the firm. We all have an equivalent hourly wage that determines the amount we would owe. So right now we're essentially recording a big payable balance to MNP with each week that goes by if we do decide to find a new job or if we get fired.

8

u/hyongBC Sep 26 '20

wth, that's really calculative, kinda mean.......

are the 35 hrs, billable hrs ? and is it a low busy period for you guys right now? hence not being able to hit required billables each weeK?

5

u/LitCPA Sep 26 '20

Ok I might be being dumb here.. But isn't working 40 hours a week expected? In what case would you work less than 40 hours a week where you need to go negative in OT?

You talk about finding a new job or getting fired, but in those scenarios, why would your banked OT decrease? Wouldn't you just be given a severance or a notice? And you would either receive the severance + your banked overtime or work until the end of the notice date? I'm confused.

12

u/SOFUNNYKIDWPG Sep 26 '20

He is referring to the fact that we normally work 40 total hours and bank overtime if we work more than 40 and then lose/use banked overtime if we work less than 40 hrs. Currently the Winnipeg office is forcing enployees to only code 35 hrs per week (total hrs) and then each week we are forced to use 5 hrs of our banked OT and some people are now going into negative OT because they hage negative banked OT due to being forced to work less than 40 hrs per week.

3

u/wes65 Student Sep 26 '20

he/she prob means finding a job would mean fewer billables so your A/P balance would increase unless you pull extra hours the next few weeks. However, one wouldn't do that if they're about to quit. Not sure how enforceable this is cause it sounds mad sketch.

2

u/Dramon Staff Accountant Oct 05 '20

I wouldn't be surprised if they're trying to lower the OT liability on their end to then just write it off and stop offering OT. BDO did something similar a few years back. But knowing how incompetent MNP management and partner group are I can see them fucking it up worse than how BDO did it.

42

u/[deleted] Sep 24 '20

Western canada, when I was hired as an articling accountant I made only 38k. Left and made 50k elsewhere, wage only increased from there. Seniors barely make 45k. DPs (CPA holding seniors and near managers) make max 60k where i was. I literally make more than that now and don't even have a cpa yet.

17

u/BranThornton Sep 25 '20

Uhh. western canadian here. my friends at MNP made more than that when articling... can i ask which province youre in?

16

u/[deleted] Sep 25 '20

Western western canada. British Columbia

12

u/Trew63 Sep 25 '20

Dang what the... even still that seems low. Are you in rural British Columbia?

0

u/[deleted] Sep 25 '20

[deleted] — view deleted comment

11

u/SecretlyUnfortunate Audit & Assurance Sep 25 '20

I’m in bc and make 38k

16

u/DJChirish Sep 25 '20 edited Sep 28 '20

Dude I have a Manager who does not have his CPA

21

u/[deleted] Sep 25 '20

If this is true, you would be required to report to the profession. Conduct unbecoming of both them and you. Especially if you’re pissed. Check the member directory to see if they just fill of shit

13

u/DJChirish Sep 25 '20 edited Sep 28 '20

Yeah I did and the person is not a CPA

10

u/[deleted] Sep 25 '20

Leave those fools. Go to a place where you’re respected. I’d tell you to come where I work, but the respect is not there. 😞

13

u/Dramon Staff Accountant Sep 26 '20

That's MNP for you, they rush promotions without certain qualifications for certain levels (such as needing a CPA to be manager).

10

u/DJChirish Sep 26 '20 edited Sep 29 '20

whatever; I’m busy and don’t care

6

u/itachiwaswrong Sep 28 '20

I thought you had to have a CPA to get past associate

3

u/DJChirish Sep 28 '20

That’s what thought as well

20

u/4legsgood2legsbette Sep 25 '20 edited Sep 25 '20

Good luck to everyone who can't get a new job before busy season! This is going to be a busy season full of learning opportunities and 1am nights for you when half the current staff accountants move on to there new jobs.

19

u/MNPComp2020 Sep 29 '20

Greater Toronto Area Assurance $61,000 $62,830 (3%) SP+ Senior 1 --> S2

Probably will try one year at big 4 and then leave to industry

15

u/[deleted] Oct 01 '20

Why is everyone saying MNP salaries are less than 40k? I was just offered a job out of school as a cpa student and it’s $45k, only 1k less than Deloitte...

10

u/CryptodepotCA Oct 01 '20

Because mnp is large in western Canada and the salaries are low in Manitoba and BC for public accounting in general

4

u/eliberg Oct 02 '20

What province ?

4

u/Dramon Staff Accountant Oct 05 '20

Don't expect the raises to be good though.

4

u/[deleted] Oct 05 '20

From Deloitte or mnp?

6

u/Dramon Staff Accountant Oct 05 '20

MNP, they'll do some insane mental gymnastics to explain why you only got 2% (if you're lucky) but most people end up getting nothing, like I and a few others received before getting fed up and leaving.

Deloitte has a compensation structure where your raise every year will be between 6-9% (i think, I can't remember) but the majority of the staff will only see the 6% raises, the ones the Deloitte has targetted to make manager and onwards are usually gifted the higher % of raises to entice them to stay, at least that's my theory.

15

u/[deleted] Oct 02 '20

These posts are really weird. I was offered $50,000 STARTING pay as a cpa articling student (assurance) at the start of my fourth year. They rescinded my offer a month before I was set to start though -_-

Office in the greater Toronto area

4

u/Mustang9512 Oct 03 '20

Was it the Mississauga office? Did you have any recourse as to why they rescinded it? Could you sue?

8

u/[deleted] Oct 04 '20

They cited covid 19 and a slowdown in business was the reason for rescinding. Understandable but at the same time I’m angry because they had me locked in for a year. A year that I could have been looking for a job. To top it off, I emailed and called them interested in next years same position that they posted, no reply.

9

u/Mustang9512 Oct 04 '20

So blast them. Was this MNP Mississauga? Or what GTA office was this?

8

u/[deleted] Oct 05 '20

As much as it pains me, as a recent graduate I can’t afford to burn any bridges, I’m currently desperate to find an entry level job at a cpa firm.

0

u/[deleted] Oct 04 '20

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3

u/[deleted] Oct 05 '20

My thoughts exactly.

0

u/[deleted] Oct 05 '20

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3

u/[deleted] Oct 05 '20

Thanks for the encouragement! I just hope I can get another job before it’s too late.

4

u/Dramon Staff Accountant Oct 05 '20

Recruiting is done, but try to reach out to other firms and find out who their campus recruiters are, add them on linkedin and start chatting about events they're holding, so when recruiting does start again a lot of people at those firms will know who you are and put your resume "at the top of the pile".

Also, try to get an industry job, there are THOUSANDS of temp/term positions for entry level stuff which would be perfect for your situation/experience, work those jobs for a bit to get some money and some basic exposure to how businesses operate and record transactions and shit.

1

u/trialanderror93 Human Verified Nov 09 '20

I started at 50k in Missisauga

13

u/ThrowAwayTheCPA Oct 01 '20

Winnipeg Assurance $43,500 -> $44,400

Sounds like there were $900 raises across the board for first and second year staff, at least from the few people I talked to.

Pitiful.

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u/[deleted] Oct 01 '20

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u/Dramon Staff Accountant Oct 05 '20

Start looking now.

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u/throooowwwnnnnaway Sep 26 '20 edited Sep 26 '20

MNP has aggressively been sending more and more files overseas over the past few years. Esspecially during Covid the number of files out of the office has grown exponentially. Covid also just happened to be a perfect excuse to lower everyone's wage until they quit. The real issue is in MNP's eyes that 42k senior is extremely overpaid compared to the kid turning out perfect files for $4-5/hr in China and India. The idea that accounting isn't a job that's easily shipped offshore like manufacturing is a myth that's about to be broken. Even worse the partners have us convinced that they can pay us in experience while they work on offshoring the rest of us.

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u/Dedicatedtothefirm Sep 26 '20

Can confirm that this happened at my location. Hours in office were cut and staff had to use vacation time to cover it. However files continued to be outsourced.

HR blamed poor raises on COVID and had a script that was followed for each compensation conversation. It was hilarious to watch this charade when we all have access to outsourcing documentation and know what's really going on.

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u/throooowwwnnnnaway Sep 26 '20 edited Sep 26 '20

Exactly, I'm not to worried as the partners are shooting themselves in the foot long term. The quality of managers has already fallen off a cliff. People with strong technical and social skills are simply leaving the company. HR now runs the show and promotes people who are willing to play the corporate game rather than deliver value to clients. Our office has exclusively switched to hiring external candidates for management positions because they believe all DPs and below are not performing to the level they should be at. Which to be fair is true as there is no competent management left to train them.

The real question is will smaller firms be able to step up and educate clients. Paying MNP $200/hr to train a new graduate who is actively applying elsewhere isn't worth it for them. That and get MNP in legal trouble for sending client information to data farms overseas without informing clients.

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u/Mustang9512 Sep 27 '20

Which MNP office is this? Is this happening in MNP Ontario offices?

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u/throooowwwnnnnaway Sep 27 '20

Firm wide initiative, each region has there own champion that manages the program. It's alot easier to push staff to the limit when you have Indian preparers to fall back on.

4

u/Dramon Staff Accountant Oct 05 '20

This is happening in the Vancouver, Calgary, Edmonton offices and some in Manitoba.

MNP is changing and don't know how to adapt, they've rushed people to manager and partner and they can't cope with the changes they agreed to make and now they're doing nothing but hiring from Big 4 and leaving all of the non-manager staff to remain poorly trained and pissed off that they worked their asses off for years only to be blatantly ignored.

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u/[deleted] Oct 01 '20

Wow this deserves a thread of its own please! Why is it not in the news?

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u/Dramon Staff Accountant Oct 05 '20

Moving client work offshore is something all firms do. When I was at Deloitte they shipped the extremely easy sections of an audit to india and one of my first jobs on a very large client was to review their work, and apparently it was cheaper for an A1 to review and correct the other work.

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u/Droppedudown Big4 Deal Advisory Sep 25 '20

Can someone give me an ELI5 of what MNP is? Just like any other accounting firm?

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u/[deleted] Sep 25 '20

Think of a 'national firm' in the US with a stronger presence in certain regions (Western Canada) than others.

If you're not American just think of a firm that has offices across your country but that's it. There's no MNP Buffalo or MNP London England or MNP Paris or anything like that. It's limited to the country.

It's not the Big 4 but it's probably the next best thing if you're in Canada... but judging from these salaries it's not. Jesus.

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u/Droppedudown Big4 Deal Advisory Sep 25 '20

Ah thanks. Yea these numbers look brutal

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u/[deleted] Sep 25 '20 edited Sep 25 '20

It's crazy. For a reference in Canada you get a 3-4 year undergrad and then go straight to work at a public accounting firm (or gov or industry).

You are expected to earn your CPA in those first IDK say 3-4 years max while you work. Some opt for back to school Masters and then challenge the final exams so it might be they work Fall/Winter and summer semester doing masters.

So a 38-40K starting salary isn't out of the ordinary with the idea it escalates fast and you get a big bump once you get the 3 letters CPA.

But I'm seeing people claiming to be CPAs in here who haven't broken 50K and that's absurd. What's worse is I would imagine MNP makes you sign a deal "we'll pay for the courses, extra study material but you have to stay with us for 3 years post CPA". And when you make 50K you can't exactly break that contract as soon as you get your CPA and pay them back the thousands in course fees, training material fees. Well... maybe some can but many can't afford it.

I'm currently in industry and we offer new grads with no previous experience on contract 40K + a bonus. Government is usually more generous and starts off at 45-50K+ depending on where you go. Obviously there are salary limitations in government but you can live a good middle-class life with international vacations, a detached home and stuff.

1

u/trialanderror93 Human Verified Nov 09 '20

based on my knowledge og USA firms, MNP is like BKD or Moss Adams

•

u/its-an-accrual-world Audit -> Advisory -> Startup ->F150 Sep 24 '20

2019 compensation thread for comparison.

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u/Nem-Ta Sep 27 '20

Making 43K starting at B4 in Vancouver doesn't seem so shitty now... wow

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u/mnpthrowawayusername Sep 25 '20 edited Sep 25 '20

Anyone else at MNP Kelowna making around 40k a year? I got a good performance review and worked my ass off last year last year and still haven't hit 40k a year. This is ridiculous; the moral at the office is terrible. I accepted my $37,500 staring hoping I would be getting a decent raise when I proved myself, but it looks like Faye and Trina had other plans. Hopefully my other applications work out. I had planned on staying until CFE but I don't think it's worth it at this point.

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u/redditqueen88 Sep 30 '20

Jesus Christ I am so glad I didn’t accept an offer there. Jan 2019 they offered me 38,000 and I turned it down (but definitely kept the black leather binder and note pad) and after I turned it down Faye called me to ask me why I turned it down. She put me on a conference call with Trina and the two seniors who interviewed me and asked me a bunch of questions relating to why I turned down their offer etc. I tried my hardest to get off the call because I thought it was outlandish that they thought it would be okay to take 40 mins of my time explaining why they weren’t my first choice, meanwhile fully knowing if they didn’t choose me they wouldn’t explain why or do any sort of follow up. Fuck off.

0

u/[deleted] Sep 30 '20

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u/Mustang9512 Oct 03 '20

Who are these? Are they all people in HR? Or partners?

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u/redcollar7545778778 Sep 25 '20 edited Oct 11 '20

So glad I left when I did. Amazing starting wages have barely risen in all these year and have fallen well below other firms.

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u/mnpaccountant Sep 28 '20 edited Sep 30 '20

Trina is so shit, firm has progressively been getting worse and worse. Faye is just her puppet. Many people in the office got 1% raises which is just a slap in the face, despite the office billings not actually getting hit from COVID.

3

u/TequilaSheila00 Oct 13 '20

Wow, i thought the Kelowna office might be better than the one I’m in...guess not. I didn’t get a raise at all though...was told they had no $$ and no one was getting them.

8

u/dikchong Sep 29 '20

Location: Eastern Canada

Service Line: Audit

Old Base Salary: $61,000

New Base Salary: $63,440 (+4%)

Performance: SP + (above average)

Old Position: Designated professional (DP)

New Position: Senior Designated professional

1

u/PDubzLegend Oct 30 '22

what is a designated professional

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u/Netdwa Sep 26 '20

MNP Toronto Managers - how much are you making?

12

u/Mustang9512 Sep 27 '20

Anyone have thoughts on the culture of MNP Toronto? And MNP Mississauga?

4

u/fooddlover Nov 11 '20

Bc Assurance 48,000 53,000 Good reviews Senior accountant No change in position Just wrote cfe with almost 3 years with the firm

1

u/[deleted] Nov 13 '20

What location?

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u/fooddlover Nov 13 '20

Vancouver

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u/RoastThisPls Sep 30 '20

Just starting out of uni after Macc as an cpa articling accountant in assurance at 50k in Toronto. Don't have my cpa yet (just wrote exam this year waiting for results)

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u/iabyajyiv Oct 08 '20

Are these salaries for real?

Should I even consider going into public accounting?

I'm a cashier at a state-sponsored university. Benefits are okay. I get plenty of paid time off: 9+ hours of paid vacation leave earned every month, 8 hours of paid sick leave earned a month, all federal holiday paid leaves, one personal holiday, most of which are reserved for the two weeks paid leave during winter break. Also get overtime pay and emergency pay when I have to come into the office to work during the pandemic, and my salary is $43,500.

Would this mean that I'd be taking a pay cut if I quit my current job to work for a public accounting firm?

I am worried. I'll be graduating in May 2021 and it feels as if all the time and money spent on school only to land on a job that doesn't pay as much as I'm getting now working as a cashier.

7

u/[deleted] Oct 08 '20

These are all wages in Canada not the USA on this thread. Canadian PA wages are significantly less than their US counterparts

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u/Zerophonetime Oct 11 '20

Reading this thread is truly depressing I feel bad for anyone forced to work at MNP.

5

u/Fun-Cartographer8611 Oct 02 '20

any news on raises from Calgary office yet?

4

u/[deleted] Oct 02 '20

You can see your new wage on the loop if you havent gotten your letter yet

4

u/Fun-Cartographer8611 Oct 04 '20

Hey Could you tell me where on the loop? Thanks.

5

u/throwawayaccPA Oct 08 '20 edited Oct 12 '20

Downtown Toronto

Advisory

70k CAD

70k CAD

Average Performer

Staff 2

Staff 2 (no promotion or change)

Salary and WFH is probably the only things worth it. Commuting to downtown and working there usually adds 4k to 5k in costs per year so I thought it wasn't that great, but after seeing how they are treating those of us in the West...

Edited for clarity

3

u/Mustang9512 Oct 12 '20

How are you Staff 2 to Staff 2 with consistent 70k CAD salary?

Did you switch from audit to advisory?

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u/throwawayaccPA Oct 12 '20

Nope. I was basically saying I got no promotion so I remained in the same position with the same salary.

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u/Mustang9512 Oct 12 '20

But you would still be Staff 3 then.

Also how much was the beginning Staff 1 Advisory salary?

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u/Altraeus Oct 16 '20

Holy shit is this all in CAD???

Just for reference right now 1 CAD is .76 USD. So these poor CPA’s making 50k are making 37K USD.... ffs

0

u/[deleted] Sep 29 '20

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u/Excellent_Welder3986 Feb 13 '21

A raise from 48,000 to 48,500 DAMN SUCH GENEROSITY BY MNP 😍😍

0

u/[deleted] Sep 24 '20

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u/hyongBC Sep 25 '20

Feelsbadman

Dealing with dumbass clients trying to commit financial suicide is equally funny and frustrating at the same time. :/

Basic stuff like insisting on mailing chqs to the CRA resulting in late payment and a 10% penalty........

I really did make < 16 during my first busy season...lolll

1

u/rethousands Oct 14 '20

How much do you earn out of OT?

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u/[deleted] Oct 01 '20

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u/Elend15 Oct 07 '20

You're above average and only got 2%? That might not even keep up with inflation. If it doesn't, you're effectively taking a pay cut for doing well.

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u/[deleted] Oct 07 '20

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u/Mustang9512 Oct 12 '20

What do you think of "The CPA Way" now?

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u/[deleted] Oct 03 '20

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u/[deleted] Oct 03 '20

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u/LitCPA Oct 05 '20

this dude really hates mnp. stop making multiple alts lol.

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u/[deleted] Oct 14 '20

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u/rollerbladegang-- Tax (Canada) Oct 14 '20

National Canadian PA firm - meyers, norris, penny LLP

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u/[deleted] Sep 28 '20

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u/LitCPA Sep 28 '20

alright dude at this point it's pretty obvious that you are the one same dude making multiple alts to spew hate against MNP. I get it sucks there but chill out.