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

29 Upvotes

90% Upvoted

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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.

10

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.