2011

Salary Survey For Certified General Accountants

Table of Contents

Page

1. Project Background

3

2. Summary of Findings

4

3. Workplace Background of Certified General Accountants

4



Working Hours • Gender Distribution • Experience •

5 6 6

4. Compensation by:

• • • • • • • • • • • •

Company Size Age Geographic Location Employment Status Education Chapter Gender Position Industry Experience Workplace Sector Experience in Workplace Sector

7 8 9 9 10 11 12 13 14 15 17 22

5. Benefits by Position

28

6. Taxable Benefits

30

7. Bonuses

31

8. Annual Percentage Increase in Salary

32

Project Background

Goals, Methodology and Use CGA Ontario conducts a salary survey every year, and 2011 is the eighth year of this online version. The exercise aims to identify the salaries of CGAs and students in the CGA program of professional studies command in the marketplace. Another objective is to better equip CGAs and students in the CGA program to negotiate their salaries and set salary levels for accounting and financial staff. Target Audience A notification about the availability of the survey was distributed to all certified general accountants and current students in the CGA program of professional studies with valid e-mail addresses, as per CGA Ontario’s database. All designated sectors and positions were covered in the study; however, those CGAs or students in the CGA program who indicated themselves as retired or unemployed were not included in the compiled results of the study. Response Rate of Valid Participants: In 2011, 22 per cent completed the survey. Research Method An e-mail invitation, which included the URL link to the survey, was sent to the target audience by CGA Ontario. Each e-mail was personalized and accompanied by a covering letter, which invited CGAs and students in the CGA program to participate in the salary survey. All respondents were assured of the confidentiality of their response.

6. Percentile 95th: 95 per cent of the respondents earned less than the given figure, 5 per cent of the respondents earned more than the given figure. 7. Empty row, columns or cells resulted in insufficient data being collected. Inadequate responses were eliminated for accuracy. To respect confidentiality and accurate analysis, any segment where the number of responses are less than 10 are not included in the analysis and report. 8. For accurate analysis, extremely high or extremely low figures, a.k.a., outliers1, were not included in the calculation of averages, median and percentiles. Note 1: An outlier is a data point that is located far from the rest of the data. Given a mean and standard deviation, a statistical distribution expects data points to fall within a specific range. Extreme outliers have been eliminated from the analysis in order to produce results that are not skewed. Important notice: This report is for the confidential and personal use of CGAs and students in the CGA program of professional studies. Please do not distribute it further without consent from CGA Ontario. For more information, please contact Mila de Los Santos, Executive Assistant, Marketing and Communications, CGA Ontario at [email protected].

Survey Roll Out The survey was distributed to the target audience for the period of 21 days, running from October 18th to November 9th 2011. Additional Notes 1. Unless specified, Salary/Average annual salary refers to the base salary, excluding taxes, bonuses and taxable benefits. 2. The “mean” refers to the numerical average. 3. The “median” refers to the midpoint of the distribution, e.g., 50 per cent of salaries are above the median and 50 per cent fall below it. Median is not affected by the highest or lowest values. 4. Percentile 25th: 25 per cent of the respondents earned less than the given figure, 75 per cent of the respondents earned more than the given figure. 5. Percentile 75 per cent: 75 per cent of the respondents earned less than the given figure, 25 per cent of the respondents earned more than the given figure.

3

Summary of Findings

In 2011, the average annual salary is $94,290 (down $6,224 from 2010). The average value of taxable benefits is approximately $8,421, with an average bonus value of $8,116.

Annual Salary $180,000

$165,000

$160,000 $140,000 $120,000

$94,290

$100,000 $80,000 $60,000

Workplace Background of Certified General Accountants

•



•













4

•

•

•

•

$86,000

$40,000 $20,000 $0

25th Percentile

Median

Mean

75th Percentile

95th Percentile

The largest percentage of CGAs works within industry/ commerce (49%), followed by government (14%), public practice (13%) and manufacturing (11%). The vast majority of CGAs (81%) are currently employed full-time (permanent, salaried). Ten per cent of CGAs are also employed full-time, on a contract basis, while four per cent of CGAs are self-employed. Only 2 per cent of CGAs are working on a part-time basis. Since 2008, there has been virtually no change to the high levels of employment enjoyed amongst CGAs. This is indicative of the CGA’s resilience and strength as an accounting designation within Canada. A greater percentage of CGAs (44%) are working within large organizations, which employ more than 501 employees, followed by 26 per cent of CGAs who work in companies that have an employee base of between 1 and 50.

Mean $94,290

2011 2010

$100,514

Decrease in Mean Salary

2009 2008

$92,142 $100,000

by $6,224K, back to 2009 level.

2007 2006

$94,173 $86,463

2005

$83,720

2004

$80,900 0

$20,000 $40,000 $60,000 $80,000 $100,000 $120,000

The highest percentage of CGAs hold the title of “manager” (23%), followed by “controller” (16%), “accountant” (15%), and “analyst” (13%). Eight-in-ten (82%) of CGAs indicate they have other accounting or business related degrees, of these individuals 50 per cent have a general business and/or commerce degree from a Canadian institution

The majority (61%) of CGAs are working in a metropolitan centre (i.e., more than 500,000 in population).

•

•

$70,000

$105,400

The highest percentages of CGAs (36%) are members of CGA Ontario Toronto Chapter, followed by Peel Chapter (14 %), and the Ottawa Chapter (13 %).

Median $86,000

2011

$86,007

2010 Median salary remained steady between 2008 and 2011

2009 2008 2007 2006 2005

$84,736 $85,000 $80,000 $78,000 $75,000 $70,950

2004 0

20000

40000

60000

80000

100000

Working Hours



•



•





•

•

Gender

On average, CGAs work 41.7 hours a week. Compared to 2010, the gap in working hours between women and men is relatively unchanged (42.9 hours for males, compared to 41.06 for females). Thirty-six per cent of CGAs work less than 40 hours per week, while forty-five per cent work between 40 and 49 hours per week. On average, 19 per cent of CGAs work 50 or more hours per week.

Female

40.72

Male

42.81 0

5

10

15

Among CGAs, presidents and CEOs work the most hours (47.7), followed by VPs and directors (47.4), CFOs and COOs (47.0), and partners (46.9). On average, auditors work the least amount of hours (37.3).

20

25

30

35

40

45

Mean Hours

Company Size 501+

41.75

201-500

42.84

101-200

43.20

51-100

42.22

1-50

40.31 39

40

41

42

43

44

Mean Hours

Geographic Location 42.36

Rural (all other areas) 41.90

Small Urban Centre (5,000 to 39,999) Median Urban Centre

41.35

(40,000 to 199,999)

Large Urban Centre

41.80

(200,000 to 499,999)

Metropolitain (Over 500,000) 40.5

41.67 41

41.5

42

42.5

43

Mean Hours

5

Gender Distribution



•



•



•

Experience

The average age of a CGA is 45.6 years. At present, male membership is lower than female membership, a trend continuing from 2010 (46% male, compared to 54% female). The sectors in which males out-numbered females are closing. In 2010, male CGAs out-numbered their female counterparts in self-employed public practice (74% male, and 26% female), however in 2011, while there is still a considerable gender gap, it is smaller (61% male, and 39% female). Other sectors where men are slightly more represented than women are hospitality (58% men vs. 42% women), consulting (56% men vs. 44% women) and wholesale/retail trade (54% men vs. 46% women). Conversely, women are over-represented in working for non-profit organizations such as hospitals (66% vs. 34%), charities (65% vs. 35%), non-profit professional associations (67% vs. 33%), in public practice (60% vs. 40%), education (elementary, college and university – 63% vs. 37%), and crown corporations (63% vs. 37%).

Gender Distribution

Female

54%

Male

46% 0%

10%

20%

30%

Per cent

6

40%

50%

60%



•



•



•

CGAs have an extensive amount of experience, as the average amount of Canadian working experience in accounting and finance is 18.3 years, and combined Canadian and non-Canadian experience is at 22.5 years. On average, male CGAs possess 25.3 years of experience (Canadian and non-Canadian), compared to female CGAs whose average experience is 19.6 years. Among CGAs who hold management-level roles, presidents and CEOs have the most years of experience (32.8), followed by principals (32.6), partners (32.1), sole proprietors (28.3), treasurers (27.7), VPs/directors (26.9) and CFOs (26.5).

Compensation Compensation is affected by many factors, including sector, position, experience and age (the two being the most important factors), gender, geographic location and size of the company. Below are the segmented analysis of each factor and its affect on salary scale. Experience within the accounting and finance field and sector experience show the greatest correlation to salary.

Effect of the Company Size

•

Employees tend to collect the highest salaries at companies that employ more than 500 people ($97,720, on average).

Effect of the Company Size 501+

$97,720

201-500

$96,670

101-200

$95,369

51-100

$95,476

1-50

$86,464 $0

$20,000

$40,000

$60,000

$80,000

$100,000

Mean Salary

7

Effect of Age

Annual Salary ($)



8

Age

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

25 or below

$55,196

$52,000

$45,000

$71,000

$100,000

13

26-30

$71,998

$63,000

$55,000

$72,000

$100,000

173

31-35

$76,248

$72,885

$63,000

$87,000

$115,000

437

36-40

$84,172

$80,000

$67,000

$95,000

$132,600

833

41-45

$92,412

$86,500

$70,000

$105,000

$154,000

940

46-50

$98,483

$93,000

$75,000

$110,000

$170,000

897

51-55

$107,391

$96,160

$77,000

$121,000

$197,000

707

56-60

$110,842

$96,000

$80,000

$120,000

$211,000

447

61-65

$103,147

$97,500

$79,911

$124,500

$190,000

180

66 and above

$105,814

$96,100

$60,000

$120,000

$200,000

49

•

Income increases fairly evenly with age, until it peaks at age 60. Ninety-fifth (95th) percentile earnings and 25th percentile earnings both peak between ages 56-60.

Effect of Geographic Location

•



•



Mean salaries are highest in metropolitan areas: the Greater Toronto Area, London and Ottawa*. There is not a great discrepancy of salaries based on other geographic locations/community sizes.

* 2006 census data for population size used to determine corresponding regions with particular populations.

Effect of Geographic Location Region Size



$100000 $90000 $80000

$91,896

$86,476

$89,367

$90,207

$97,129

$70000 Rural (all other areas)

Small Urban Centre (5000 39,000)

Medium Urban Centre (40,000 199,999)

Large Urban Centre (200,000 499,999)

Metropolitain (over 500,000)

Effect of Employment Status

Annual Salary ($) Age

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

Employed full-time (permanent, salaried)

$93,428

$86,100

$70,000

$105,000

$156,000

3,795

Employed full-time (contract, temporary)

$98,642

$88,000

$70,000

$110,000

$200,000

446

Self-employed, full-time (owner, partner, principal)

$113,082

$100,000

$65,000

$190,000

$250,000

261

Part-time employee (contract or permanent)

$62,791

$56,800

$42,000

$75,000

$130,000

97

9

Effect of Education

Annual Salary ($)

10

Education

Mean

Median

Count

PHD

$128,063

$130,000

24

MBA

$107,648

$98,000

372

Three Year Business Diploma (Non-Can Diploma)

$94,190

$90,000

35

Three Year Business Diploma (Can Diploma)

$96,716

$88,440

553

Two Year Business Diploma (Can Diploma)

$96,694

$85,800

226

General Business/Commerce Degree (Can Degree)

$90,735

$85,000

1009

Two Year Business Diploma (Non-Can Diploma)

$92,930

$93,000

30

One Year Post-Graduate Diploma (Can Diploma)

$96,508

$82,000

55

Honors Business/Commerce Degree (Can Degree)

$91,226

$82,735

904

General Business/Commerce Degree (Non-Can Degree)

$83,340

$75,000

358

Honors Business/Commerce Degree (Non-Can Degree)

$88,548

$80,000

234

One Year Post-Graduate Diploma (Non-Canadian Diploma)

$80,009

$85,000

33



•



•



•



•



•

82 per cent of CGAs hold commerce or business-related undergraduate degrees, or business diplomas. Ten per cent hold an MBA. Twenty six per cent of CGAs hold a Canadian general business/commerce degree. Similarly, 24 per cent of CGAs hold an honours business/commerce degree and 20 per cent of CGAs have a two or three-year business diploma from a Canadian institution. Concerning non-Canadian degrees, six per cent of CGAs have an honours business/commerce degree, and an additional nine per cent have a general business or commerce degree. Together with the CGA designation, four per cent of CGAs hold a CPA designation and another four per cent an ACCA designation. A very small number of CGAs hold a CA, CFP, CFE or CMA (one per cent each). The vast majority of CGAs, 79 per cent, do not have any other designations, such as CBV, CFA, LLB and TEP. Younger CGAs are significantly more likely to have obtained an accounting or business-related university undergraduate degree (for example, 98 per cent of those who hold a CGA between the ages of 26 to 30 years of age have obtained a commerce or businessrelated degree, compared to 64 per cent of CGAs between the ages of 56 and 65 who have obtained the same degree).

Effect of Chapter

Annual Salary ($)

Chapter

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

Belleville

$79,803

$70,000

$55,000

$88,000

$152,000

30

Chatham

$82,460

$81,846

$63,000

$101,000

$117,000

25

Durham

$96,000

$87,689

$70,000

$110,000

$181,000

221

Hamilton

$94,637

$87,000

$68,000

$105,000

$180,000

297

Huronia

$95,437

$88,171

$66,000

$110,000

$150,000

126

Kingston

$87,154

$84,000

$67,405

$100,000

$132,563

69

Kitchener-Waterloo

$87,607

$80,000

$67,000

$99,000

$156,000

299

London

$82,076

$77,250

$65,000

$94,000

$128,820

267

Niagara

$98,888

$90,000

$78,300

$110,000

$197,000

83

North Bay

$93,365

$82,644

$69,500

$122,500

$180,000

38

Ottawa

$93,057

$90,000

$74,000

$105,000

$145,000

611

Peel

$94,615

$87,000

$70,000

$107,775

$161,000

633

Sarnia-Lambton

$90,270

$84,000

$67,000

$106,000

$180,000

36

Sault Ste. Marie

$101,015

$85,000

$74,000

$102,000

$230,000

21

Sudbury

$100,892

$93,000

$75,000

$118,000

$204,000

57

Thunder Bay

$90,758

$82,016

$71,625

$96,000

$150,000

46

Toronto

$95,779

$86,600

$70,000

$108,000

$170,000

1687

Windsor

$98,490

$87,624

$67,000

$110,000

$176,800

67

Out of Province

$143,154

$120,000

$81,200

$195,000

$310,000

63

11

Effect of Gender

Annual Salary ($)

Age

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

Female

$85,179

$80,000

$65,000

$97,463

$137,800

2512

Male

$104,919

$95,000

$76,875

$119,000

$193,000

2164

Overall, there is still a pronounced gender-driven earning gap. Gender difference does affect earnings. The average annual salary of a female CGA is $19,740 less than a male CGA. This difference is most visible in senior-level positions (graph below).

Gender / Position / Salary $200,000 $180,000

Male

Female

Mean Salary

$160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000

tn es er id en t/ CE O Pr Pr of in es cip so al r/ In st ru ct or Su pe rv So iso le r Pr op rie to Vi r ce Tr -P e re as sid ur Ch er en ie t / fO Di re pe ct ra or tin g Of fic ie r

er

Pr

Position

12

Pa r

le r

an ag

M

nt

nt ro l

lta

Co

ns u

CF O Co

r

t

Au di to

ta n

ou n

ys t An al

t. Ac c sis

As

Ac

Ac co un ta co nt un tin g Cl er k

$0

Effect of Position

Annual Salary ($) Age

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

Accountant

$66,389

$63,000

$54,500

$75,000

$98,000

693

Accounting Clerk

$48,715

$45,000

$37,000

$56,437

$82,500

10

Analyst

$76,305

$73,000

$64,900

$84,000

$98,730

617

Assistant Accountant

$64,750

$67,000

$60,000

$70,000

$96,000

14

Auditor

$80,112

$80,000

$67,829

$90,000

$103,000

286

CFO

$141,613

$130,000

$100,000

$165,000

$276,000

180

Consultant

$111,000

$100,000

$81,000

$125,000

$225,000

84

Controller

$93,150

$90,000

$76,500

$105,000

$137,500

743

-

-

-

-

-

-

Manager

$92,517

$92,000

$80,000

$105,000

$125,000

1078

Partner

$169,534

$132,000

$110,000

$230,000

$395,000

50

President/CEO

$168,212

$130,000

$93,000

$200,000

$400,000

72

Principal

$115,128

$100,000

$70,000

$150,000

$290,000

46

Professor/Instructor/ Lecturer

$111,894

$102,186

$86,000

$140,000

$181,000

40

Supervisor

$81,459

$80,000

$70,000

$93,000

$110,000

142

Sole Proprietor

$91,948

$80,000

$50,000

$117,000

$200,000

107

Treasurer

$121,360

$104,000

$83,500

$144,500

$190,000

53

Vice-President/Director

$133,241

$128,000

$110,000

$150,000

$200,000

439

Chief Operating Officer

$147,540

$135,000

$104,800

$196,953

$285,000

21

Junior Accounting Clerk

13

Per Industry

Annual Salary ($)

14

Industry

Mean

Median

Commerce: Banking, Trust Co./Credit Union

$96,075

$87,500

Commerce: Consulting

$105,752

$92,000

Commerce: Finance/Investment/Mortgage

$98,257

$89,500

Commerce: Hospitality

$88,257

$81,000

Commerce: Insurance

$97,585

$85,900

Commerce: Others

$97,168

$87,000

Commerce: Wholesale/Retail Trade

$96,495

$84,000

Construction

$97,153

$87,000

Crown Corporation

$92,754

$90,000

Education: College/University

$94,376

$86,000

Education: Elementary and Secondary

$121,281

$108,585

Government (Federal): Canadian Customs

$88,943

$93,920

Government (Federal): Other

$94,653

$95,000

Government (Municipal):

$95,196

$90,000

Government (Provincial): Finance

$84,903

$87,000

Government (Provincial): Other

$94,247

$91,000

Government (Fed) Canada Revenue Agency

$86,341

$87,000

Information Technology

$97,325

$86,000

Manufacturing

$95,292

$86,000

Not-For-Profit: Charities

$78,474

$74,000

Not-For-Profit: Hospitals

$98,312

$82,500

Not-For-Profit: Other

$89,986

$80,000

Not-For-Profit: Professional Association

$101,783

$85,000

Primary Industry

$99,899

$90,000

Printing/Publishing

$97,681

$95,000

Processing

$104,625

$95,000

Public Practice – Employed

$80,578

$73,500

Public Practice – Self-Employed

$103,238

$95,000

Transportation/Communication

$94,839

$88,000

Utilities

$109,842

$98,000

Effect of Experience Canadian experience within accounting and finance: Annual Salary ($) - Canadian experience in accounting and finance

Experience in accounting and Mean Median finance field

Percentile 25

Percentile 75

Percentile 95

Minimum

Maximum

Count

0-2 years

$67,019

$62,000

$45,000

$82,500

$150,000

$4,000

$190,000

41

3-6 years

$69,254

$62,000

$55,000

$74,000

$110,000

$50

$720,000

372

7-10 years

$78,148

$72,000

$62,500

$85,000

$120,000

$53

$780,000

762

11-14 years

$86,433

$80,500

$70,000

$97,000

$130,000

$65

$425,000

687

15-18 years

$98,120

$90,000

$76,500

$108,680

$160,000

$85

$650,000

668

19-22 years

$98,608

$93,000

$76,000

$110,000

$160,000

$90

$400,000

673

23-26 years

$102,806

$96,160

$80,000

$115,000

$176,800

$95

$382,000

554

27 yrs & above

$113,926

$100,000

$85,000

$127,750

$206,000

$51

$750,000

919

Experience within current workplace sector¹: Annual Salary ($) sector experience

Sector experience Mean Median

Percentile 25

Percentile 75

Percentile 95

Minimum

Maximum

Count

0-2 years

$78,953

$74,500

$60,000

$92,000

$130,000

$4,000

$409,516

639

3-6 years

$82,901

$75,900

$63,000

$94,000

$138,500

$50

$780,000

1210

7-10 years

$90,852

$84,684

$70,000

$100,000

$150,000

$53

$680,000

886

11-14 years

$97,670

$90,000

$77,000

$105,000

$170,000

$65

$400,000

646

15-18 years

$109,892

$100,000

$84,000

$120,000

$200,000

$180

$750,000

381

19-22 years

$107,449

$99,000

$84,000

$120,000

$200,000

$90

$450,000

394

23-26 years

$109,108

$100,000

$85,000

$125,000

$180,000

$106

$310,000

244

27 yrs & above

$128,878

$110,000

$90,000

$150,000

$240,000

$51

$650,000

276

¹ Note: Sector experience may also include experience within the accounting and finance fields.

15

Effect of Non-Canadian Experience





16

Non-Canadian experience in accounting and Mean Median finance field

Annual Salary ($) Percentile 25

Percentile 75

Percentile 95

Minimum

Maximum

Count

0-2 years

$94,752

$87,000

$70,000

$108,000

$165,907

$51

$750,000

3078

3-6 years

$85,663

$80,000

$65,000

$98,000

$150,000

$50

$320,000

415

7-10 years

$87,738

$80,000

$66,000

$97,000

$154,900

$16,000

$430,000

330

11-14 years

$117,580

$87,000

$75,000

$120,000

$350,000

$38,925

$780,000

107

15-18 years

$97,373

$88,500

$72,500

$110,000

$176,820

$22,000

$425,000

115

19-22 years

$90,772

$75,000

$62,925

$105,625

$181,250

$85

$300,000

64

23-26 years

$90,552

$82,500

$70,000

$99,500

$175,000

$40,000

$180,000

25

27 yrs & above

$106,442

$94,000

$72,000

$136,000

-

$45,000

$200,000

13

•

Salary may also include effect of Canadian experience, as respondents can have Canadian as well as non-Canadian experience in the accounting and finance fields.

Effect of Workplace Sector

Industry Sector The table displays the effect of the sector and experience on annual salary. Experience in accounting and finance field (Canadian + non-Canadian experience)

Experience in accounting and finance field



Annual Salary ($) Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

0-2 years

$82,000

$58,000

$41,000

$135,000

-

5

3-6 years

$63,966

$60,000

$52,500

$67,000

$97,100

71

7-10 years

$77,430

$70,000

$60,000

$82,375

$129,125

208

11-14 years

$82,106

$77,625

$67,250

$92,850

$124,500

249

15-18 years

$93,479

$87,000

$72,118

$109,625

$151,500

297

19-22 years

$97,243

$90,000

$72,000

$110,500

$178,000

294

23-26 years

$109,431

$98,200

$81,812

$122,875

$190,000

253

27 years and above

$116,649

$101,500

$85,000

$130,000

$224,750

441

Experience within current workplace sector Annual Salary ($)

Sector experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count



0-2 years

$79,797

$75,000

$60,000

$92,000

$135,000

292

3-6 years

$87,116

$78,000

$66,000

$100,000

$150,000

536

7-10 years

$94,356

$85,387

$72,000

$105,000

$162,300

397

11-14 years

$99,718

$94,000

$77,125

$115,000

$177,750

248

15-18 years

$111,411

$100,600

$85,000

$125,000

$200,000

185

19-22 years

$110,458

$103,000

$86,700

$125,000

$200,000

176

23-26 years

$116,134

$100,650

$90,000

$131,500

$205,700

100

27 years and above

$140,491

$120,000

$90,000

$157,500

$300,000

105

Industry sector includes the following sectors: 1. Primary Industry (oil and gas, mining, forestry, fishery)

8. Commerce: Wholesale/Retail Trade

2. Manufacturing

9. Commerce: Banking/Trust Co/Credit Union

3. Processing

10. Commerce: Finance/Investment Mortgage

4. Construction

11. Commerce: Insurance/Real Estate

5. Transportation/Communication

12. Commerce: Hospitality

6. Utilities

13. Commerce: Other

7. Printing/Publishing

14. Commerce: Consulting 17

Government Sector

Experience in government sector (Canadian + non-Canadian experience)

Experience in accounting and finance field



Annual Salary ($) Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

0-2 years

$98,000

$98,000

$98,000

$98,000

$98,000

1

3-6 years

$68,745

$65,500

$56,500

$74,996

$113,775

28

7-10 years

$77,928

$79,500

$66,985

$86,144

$103,600

53

11-14 years

$85,652

$86,377

$72,000

$98,000

$113,298

63

15-18 years

$84,334

$85,000

$71,359

$96,000

$116,250

78

19-22 years

$91,370

$90,000

$79,175

$99,250

$144,750

82

23-26 years

$100,357

$102,289

$88,485

$110,000

$144,250

78

27 years and above

$105,816

$97,000

$86,600

$114,000

$149,600

163

Experience within current workplace sector Annual Salary ($)

Sector experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count



0-2 years

$84,856

$85,000

$66,000

$98,000

$137,500

89

3-6 years

$84,133

$83,000

$67,827

$95,500

$120,700

165

7-10 years

$94,054

$86,763

$78,000

$97,800

$119,800

120

11-14 years

$92,600

$91,500

$84,750

$101,692

$121,000

93

15-18 years

$97,824

$97,000

$84,750

$107,136

$150,500

38

19-22 years

$99,863

$95,739

$87,000

$112,000

$123,440

47

23-26 years

$108,987

$103,600

$93,402

$117,406

$172,750

34

27 years and above

$120,002

$110,000

$98,000

$135,900

$185,600

43

Government sector includes the following sectors:

18

1. Government (Federal): Revenue Canada

4. Government (Provincial): Other

2. Government (Federal): Other

5. Government (Municipal)

3. Government (Provincial): Finance

6. Crown corporation

Public Practice Employed

Experience in public practice employed (Canadian + non-Canadian experience)

Experience in accounting and finance field



0-2 years

Annual Salary ($) Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

-

-

-

-

-

0

3-6 years

$56,222

$56,000

$49,500

$62,500

-

9

7-10 years

$77,514

$72,000

$66,000

$80,000

$164,000

27

11-14 years

$85,382

$74,000

$65,000

$117,500

$136,000

29

15-18 years

$96,177

$89,500

$69,000

$120,000

$188,000

27

19-22 years

$101,693

$100,000

$79,000

$117,500

$197,500

29

23-26 years

$104,208

$108,000

$80,625

$123,750

$177,500

24

27 years and above

$126,441

$110,000

$83,250

$158,500

$260,400

37

Experience within current workplace sector Annual Salary ($)

Sector experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count



0-2 years

$76,295

$66,000

$55,000

$85,000

$174,000

27

3-6 years

$80,481

$72,500

$60,000

$102,500

$144,000

51

7-10 years

$95,093

$89,500

$70,750

$113,500

$167,500

37

11-14 years

$108,636

$95,000

$80,100

$121,000

$235,000

29

15-18 years

$111,573

$100,000

$82,500

$150,000

$244,800

24

19-22 years

$132,944

$124,000

$104,750

$140,000

-

18

23-26 years

$106,733

$96,000

$82,500

$133,500

-

9

27 years and above

$160,000

$170,000

$102,500

$212,500

-

5

19

Public Practice Self Employed

Public practice self-employed (Canadian + non-Canadian experience)

Experience in accounting and finance field



0-2 years

Annual Salary ($) Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

-

-

-

-

-

-

3-6 years

$50,000

$50,000

$50,000

$50,000

$50,000

2

7-10 years

$68,333

$75,000

$50,000

-

-

3

11-14 years

$80,200

$75,400

$70,200

$95,000

-

4

15-18 years

$79,400

$74,500

$62,250

$95,750

-

11

19-22 years

$102,333

$92,000

$80,000

$130,000

-

9

23-26 years

$96,200

$81,000

$67,500

$132,500

-

5

27 years and above

$99,961

$87,000

$59,592

$125,800

-

6

Experience within current workplace sector Annual Salary ($)

Sector experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count



0-2 years

$106,250

$106,250

$100,000

-

-

2

3-6 years

$73,981

$70,800

$69,000

$79,000

-

11

7-10 years

$83,475

$83,750

$76,550

$93,750

-

8

11-14 years

$81,671

$83,750

$57,717

$104,500

-

10

15-18 years

$116,750

$93,500

$70,250

$186,500

-

5

19-22 years

$84,400

$85,000

$74,000

$94,500

-

5

23-26 years

$153,500

$153,500

$142,000

-

-

2

-

-

-

-

-

-

27 years and above

20

Other Sectors

Other sector experience (Canadian + non-Canadian)

Experience in accounting and finance field



0-2 years

Annual Salary ($) Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

-

-

-

-

-

-

3-6 years

$63,920

$60,000

$53,000

$71,470

$155,000

40

7-10 years

$71,986

$69,500

$60,000

$81,750

$120,000

88

11-14 years

$78,084

$74,100

$62,000

$85,000

$118,000

135

15-18 years

$93,382

$90,000

$72,625

$104,750

$159,500

141

19-22 years

$95,697

$85,000

$72,750

$111,250

$150,000

146

23-26 years

$99,451

$94,000

$74,000

$115,167

$165,000

107

27 years and above

$112,450

$96,000

$80,000

$133,375

$200,000

240

Experience within current workplace sector Annual Salary ($)

Sector experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count



0-2 years

$76,870

$72,000

$60,000

$90,000

$130,000

186

3-6 years

$85,798

$78,000

$63,500

$94,000

$147,850

283

7-10 years

$93,221

$86,000

$72,000

$105,000

$153,500

193

11-14 years

$106,124

$90,000

$77,000

$115,000

$186,500

133

15-18 years

$126,058

$102,000

$85,582

$145,000

$252,000

57

19-22 years

$109,368

$99,500

$73,250

$131,500

$207,150

68

23-26 years

$105,960

$100,000

$89,087

$124,266

$179,332

40

27 years and above

$138,783

$125,000

$94,000

$181,000

$269,600

33

Other sector includes the following sectors: 1. Education: Elementary & Secondary

4. Not-for-Profit: Hospitals

2. Education: College & University

5. Not-for-Profit: Charities

3. Not-for-Profit: Professional Association

6. Not-for-Profit: Other

21

Experience in Workplace Sector (Canadian experience only)

Commerce: Banking, Trust Company/Credit Union Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$62,272

$57,000

$43,000

$62,000

-

11

6 to 10 years

$77,022

$79,000

$68,000

$86,000

$104,000

35

11 or more years

$105,518

$98,500

$84,925

$120,000

$182,430

110

0 to 5 years

Commerce: Consulting Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$58,056

$54,200

$30,750

$85,000

-

8

6 to 10 years

$82,824

$77,271

$64,500

$96,750

-

15

11 or more years

$114,645

$100,000

$80,000

$125,000

$225,000

79

0 to 5 years

Commerce: Finance/Investment/Mortgage Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$62,346

$60,000

$50,000

$71,000

-

13

6 to 10 years

$73,267

$69,250

$60,625

$75,000

$136,500

48

11 or more years

$110,332

$101,250

$82,500

$125,000

$200,000

139

0 to 5 years

Commerce: Hospitality Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

-

-

-

-

-

-

6 to 10 years

$73,400

$75,000

$59,500

$86,500

-

5

11 or more years

$90,265

$85,000

$70,000

$100,000

$170,200

38

0 to 5 years

Commerce: Insurance/Others Years of Experience

22

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$47,861

$55,250

$32,500

$57,500

-

6

6 to 10 years

$80,831

$75,750

$67,500

$89,750

$139,500

26

11 or more years

$104,575

$92,000

$79,500

$120,000

$175,000

105

0 to 5 years

Commerce: Others Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$88,323

$63,810

$51,750

$110,000

-

9

6 to 10 years

$75,352

$70,500

$60,000

$77,750

$141,550

36

11 or more years

$106,469

$98,000

$76,750

$126,500

$181,500

94

0 to 5 years

Commerce: Wholesale/Retail Trade Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$61,236

$56,000

$48,000

$71,000

-

19

6 to 10 years

$82,282

$70,000

$57,375

$80,000

$133,000

68

11 or more years

$103,459

$95,000

$75,000

$120,000

$199,200

235

0 to 5 years

Construction Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$62,508

$62,525

$57,500

$68,000

-

6

6 to 10 years

$77,654

$72,000

$62,000

$87,000

$127,240

31

11 or more years

$107,060

$99,200

$79,500

$119,750

$200,000

83

0 to 5 years

Crown Corporation Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$77,666

$80,000

$66,000

-

-

3

6 to 10 years

$76,195

$71,000

$57,500

$92,268

-

13

11 or more years

$97,324

$94,000

$80,000

$106,500

$151,000

57

0 to 5 years

Education: College/University Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$85,714

$56,000

$55,000

$155,000

-

7

6 to 10 years

$74,568

$69,500

$61,500

$80,500

-

18

11 or more years

$98,507

$93,000

$75,000

$108,789

$175,450

101

0 to 5 years

23

Education: Elementary and Secondary Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$55,345

$55,345

$50,000

-

-

2

6 to 10 years

$78,678

$82,000

$58,000

$94,000

-

7

11 or more years

$132,309

$118,000

$91,700

$148,500

$189,600

39

0 to 5 years

Government (Federal): Canadian Customs Years of Experience

0 to 5 years 6 to 10 years 11 or more years

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$73,000

$73,000

$73,000

$73,000

$73,000

1

-

-

-

-

-

-

$91,220

$93,920

$88,000

$96,000

-

7

Government (Federal): Other Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$74,143

$65,450

$60,925

$87,250

-

16

6 to 10 years

$76,944

$78,750

$65,625

$86,826

$94,750

40

11 or more years

$102,057

$99,500

$90,000

$110,000

$144,900

140

0 to 5 years

Government: (Municipal) Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$68,025

$62,322

$53,680

$82,196

-

6

6 to 10 years

$75,373

$74,000

$63,875

$86,216

$103,750

24

11 or more years

$98,867

$94,854

$82,000

$106,000

$144,625

174

0 to 5 years

Government (Provincial): Finance Years of Experience

24

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$82,500

$82,500

$82,500

$82,500

$82,500

1

6 to 10 years

$75,860

$78,200

$70,000

$80,000

-

15

11 or more years

$86,903

$88,000

$76,500

$95,000

$138,500

69

0 to 5 years

Government (Provincial): Other Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$79,000

$79,000

$58,000

-

-

2

6 to 10 years

$79,115

$75,900

$65,000

$103,000

-

11

11 or more years

$98,186

$92,250

$84,750

$107,000

$152,300

50

0 to 5 years

Manufacturing Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$79,856

$66,000

$55,000

$90,000

$189,000

23

6 to 10 years

$76,336

$72,000

$63,000

$88,000

$130,250

105

11 or more years

$101,275

$92,068

$75,250

$110,000

$180,250

393

0 to 5 years

Not-For-Profit: Charities Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$51,035

$52,000

$45,660

$61,000

-

9

6 to 10 years

$67,643

$64,304

$60,250

$78,750

$111,000

28

11 or more years

$83,714

$78,000

$66,890

$97,597

$141,400

105

0 to 5 years

Not-For-Profit: Hospitals Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$56,962

$56,962

$38,925

-

-

2

6 to 10 years

$77,839

$72,550

$68,488

$86,250

-

18

11 or more years

$104,249

$86,150

$76,000

$109,500

$218,150

76

0 to 5 years

Not-For-Profit: Other Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$75,245

$73,000

$68,602

$82,500

-

6

6 to 10 years

$77,318

$71,000

$62,500

$89,500

$119,806

21

11 or more years

$93,839

$83,133

$70,625

$102,750

$189,183

92

0 to 5 years

25

Not-For-Profit: Professional Association Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$69,400

$60,000

$51,000

$92,500

-

5

6 to 10 years

$77,072

$75,000

$70,000

$85,000

-

11

11 or more years

$117,847

$92,000

$80,000

$140,000

$359,200

27

0 to 5 years

Primary Industry Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$74,126

$74,252

$60,250

$87,876

-

4

6 to 10 years

$87,525

$70,000

$57,400

$88,750

-

16

11 or more years

$107,823

$102,250

$88,243

$123,500

$191,450

39

0 to 5 years

Printing/Publishing Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$48,300

$48,300

$48,300

$48,300

$48,300

1

6 to 10 years

$68,875

$63,000

$51,625

$92,000

-

4

11 or more years

$107,969

$101,250

$86,775

$123,000

-

17

0 to 5 years

Processing Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

-

-

-

-

-

2

6 to 10 years

$92,500

$92,500

$75,000

-

-

2

11 or more years

$107,050

$93,500

$84,250

$113,500

-

10

0 to 5 years

Public Practice - Employed Years of Experience

26

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$59,963

$54,000

$46,250

$60,000

$94,500

41

6 to 10 years

$66,633

$65,000

$55,000

$75,000

$103,350

90

11 or more years

$87,697

$80,000

$65,000

$97,500

$160,000

295

0 to 5 years

Public Practice – Self-Employed Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$105,000

$105,000

$60,000

-

-

3

6 to 10 years

$59,917

$60,000

$45,000

$70,000

-

17

11 or more years

$107,907

$100,000

$62,500

$140,000

$232,000

163

0 to 5 years

Transportation/Communication Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$63,375

$60,500

$49,000

$69,500

-

8

6 to 10 years

$70,597

$69,144

$62,000

$80,000

$92,400

27

11 or more years

$105,376

$96,600

$78,187

$123,500

$171,175

86

0 to 5 years

Utilities Years of Experience

Mean

Median

Percentile 25

Percentile 75

Percentile 95

Count

$52,750

$48,000

$36,500

$73,750

-

7

6 to 10 years

$71,000

$71,000

$71,000

$71,000

$71,000

5

11 or more years

$88,888

$80,000

$65,000

$125,000

-

25

0 to 5 years

27

Benefits The table bellow displays the per cent of respondents receiving respective benefits. For example, 54 per cent of CGAs indicated they would receive a pension.

Benefits (%)

Position

Drug Plan

Training

Pension

Hospitalization



All CGAs

82%

81%

68%

59%

54%

48%



Accountant

70%

68%

52%

47%

34%

32%



Accounting Clerk

70%

60%

30%

30%

40%

20%



Analyst

86%

86%

77%

62%

69%

45%



Assistant Accountant

79%

79%

64%

57%

43%

43%



Auditor

90%

89%

74%

66%

78%

56%



CFO

86%

84%

69%

61%

58%

63%



Consultant

46%

46%

39%

44%

27%

24%



Controller

86%

86%

66%

56%

41%

48%



Junior Accounting Clerk

-

-

-

-

-

-



Manager

89%

88%

77%

70%

65%

55%



Partner

48%

46%

28%

38%

14%

28%



President/CEO

58%

60%

47%

54%

32%

39%



Principal

41%

33%

26%

39%

9%

17%



Professor/Instructor/Lecturer

83%

90%

78%

35%

80%

60%



Supervisor

90%

91%

79%

67%

65%

55%



Sole Proprietor

9%

7%

3%

13%

0%

5%



Treasurer

89%

89%

85%

81%

83%

81%



Vice-President/Director

93%

93%

81%

69%

65%

65%



Chief Operating Officer

81%

81%

52%

57%

62%

52%



28

•

Dental Plan Vision Care

There is no broad significant difference in the benefits received among male and female CGAs.

Benefits (%) Position

Membership Laptops Parking Subscriptions

Share Car Option

Interest Free Loans

44%

46%

27%

22%

12%

5%

4%

Accountant

35%

38%

13%

17%

7%

2%

3%

Accounting Clerk

40%

20%

0%

30%

10%

10%

10%

Analyst

42%

44%

16%

12%

14%

0%

4%

Assistant Accountant

50%

50%

7%

29%

7%

0%

7%

Auditor

38%

48%

20%

11%

3%

2%

1%

CFO

45%

51%

46%

33%

11%

14%

6%

Consultant

23%

35%

31%

11%

10%

4%

4%

Controller

46%

48%

32%

25%

10%

6%

4%

-

-

-

-

-

-

-

Manager

51%

51%

32%

27%

14%

2%

3%

Partner

24%

28%

32%

28%

6%

20%

2%

President/CEO

33%

44%

42%

35%

10%

38%

3%

Principal

11%

26%

28%

22%

7%

20%

2%

Professor/Instructor/Lecturer

60%

23%

45%

3%

5%

0%

15%

Supervisor

56%

45%

22%

15%

10%

0%

4%

Sole Proprietor

3%

8%

9%

3%

1%

9%

1%

Treasurer

51%

68%

26%

25%

6%

8%

8%

Vice-President/Director

56%

55%

46%

37%

26%

16%

6%

Chief Operating Officer

52%

52%

48%

19%

5%

0%

5%



All CGAs

Education Subsidy

Junior Accounting Clerk

29

Value of Taxable Benefits

Annual Value of Taxable Benefits ($) Position Mean Median

Percentile 75

Percentile 95

Minimum

Maximum

Count

Accountant

$6,090

$3,100

$1,500

$6,000

$15,800

$50

$135,000

693

Accounting Clerk

$2,302

$2,163

$1,000

$2,500

$6,000

$150

$6,000

10

Analyst

$8,557

$5,000

$2,000

$10,000

$25,000

$90

$107,000

617

Assistant Accountant

$10,400

$5,000

$3,500

$11,000

$41,000

$1,500

$41,000

14

Auditor

$7,529

$5,000

$2,200

$10,000

$20,000

$150

$100,000

286

CFO

$14,719

$10,000

$5,000

$20,000

$44,000

$20

$80,000

180

Consultant

$13,491

$9,000

$3,120

$14,000

$60,000

$1

$80,000

84

Controller

$9,134

$5,000

$3,000

$10,000

$25,000

$100

$200,000

743

-

-

-

-

-

-

-

-

Manager

$10,226

$6,000

$3,000

$13,000

$30,000

$10

$150,000

1078

Partner

$8,856

$6,000

$4,800

$10,000

$20,000

$500

$40,000

50

President/CEO

$25,297

$13,000

$6,725

$25,000

$160,000

$9

$225,000

72

Principal

$11,350

$6,000

$3,000

$12,000

$30,000

$1,500

$60,000

46

Professor/Instructor/ Lecturer

$15,641

$7,000

$3,000

$15,000

$30,000

$187

$175,000

40

Supervisor

$9,050

$4,500

$2,000

$10,000

$30,000

$200

$80,000

142

Sole Proprietor

$7,280

$6,000

$2,500

$10,000

$18,000

$100

$20,000

107

Treasurer

$13,143

$10,000

$3,000

$20,000

$30,000

$444

$40,000

53

Vice-President/ Director

$17,346

$12,000

$5,300

$21,000

$50,000

$125

$145,000

439

Chief Operating Officer

$19,358

$13,200

$5,000

$20,000

$120,000

$2,000

$120,000

21

Junior Accounting Clerk

30

Percentile 25

Bonuses

Annual Bonus ($) Position Mean Median

Percentile 25

Percentile 75

Percentile 95

Minimum

Maximum

Count

Accountant

$5,208

$3,000

$2,000

$6,600

$15,000

$50

$75,000

693

Accounting Clerk

$2,000

$2,000

$2,000

$2,000

$2,000

$2,000

$2,000

10

Analyst

$5,995

$5,000

$3,000

$7,000

$15,000

$150

$100,000

617

Assistant Accountant

$7,375

$2,000

$1,500

$25,000

$25,000

$1,000

$25,000

14

Auditor

$5,523

$3,000

$2,000

$7,000

$14,000

$500

$40,000

286

CFO

$51,990

$20,000

$10,000

$60,000

$200,000

$1,000

$500,000

180

Consultant

$18,274

$11,000

$5,000

$20,000

$44,000

$1,500

$150,000

84

Controller

$13,248

$10,000

$5,000

$16,000

$40,000

$300

$210,000

743

-

-

-

-

-

-

-

-

Manager

$10,405

$8,000

$4,000

$15,000

$30,000

$150

$80,000

1078

Partner

$40,312

$25,000

$10,000

$85,000

$150,000

$5,000

$150,000

50

President/CEO

$85,583

$50,000

$20,000

$100,000

$500,000

$5,000

$515,000

72

Principal

$64,009

$25,000

$6,500

$100,000

$250,000

$1,000

$250,000

46

Professor/Instructor/ Lecturer

$19,428

$6,000

$5,000

$40,000

$67,500

$1,500

$67,500

40

Supervisor

$6,281

$4,000

$2,500

$9,000

$15,000

$500

$50,000

142

Sole Proprietor

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

107

Treasurer

$27,127

$30,000

$10,000

$45,000

$55,000

$2,400

$55,000

53

Vice-President/ Director

$32,253

$20,000

$10,000

$40,000

$100,000

$120

$300,000

439

Chief Operating Officer

$26,272

$25,000

$8,000

$30,000

$85,000

$4,000

$85,000

21

Junior Accounting Clerk

Annual Bonus ($) Gender Mean Median

Percentile 25

Percentile 75

Percentile 95

Minimum

Maximum

Count

Female

$10,649

$6,000

$3,000

$11,000

$33,000

$50

$250,000

2512

Male

$21,133

$10,000

$5,000

$20,000

$75,000

$120

$515,000

2164

31

Salary Increase By what percentage did your yearly salary increase when you progressed from student to member? (This change might take into account a new position or raises and bonuses beyond annual increases.)

Salary Increase 0% 1% - 5% 6% - 10% 11% - 15% 16% - 20% 21% - 25% 26% - 30% More Than 30% No Answer 0%

32



•



•

5%

10%

15%

20%

25%

30%

In this year’s study, the 0-5 per cent bracket was split into two separate categories: 0 per cent and 1-5 per cent. This change was accompanied by significant shifts in the affected brackets (from: 35 per cent to 43 per cent), as well as in the 6-10 per cent and 11-15 per cent brackets, with 6-10 per cent dropping dramatically from 20 to 4 per cent, and 11-15 per cent bracket increasing to 21 per cent, from 13 per cent. The fact that all other results are very consistent with previous waves, and that there were no significant year-over-year changes in the respondent characteristics (demographics, experience, sector, etc.) indicate that these results are likely an anomaly that is localized to, and is the effect of the changes in this particular question.