Salary Survey. For CGAs

2010 Salary Survey For CGAs

Table of Contents Page 1. Project Background 3 2. Summary of Findings 4 3. Workplace Background of Certified General Accountants 4 Working Hours 5 Gender Distribution 6 Experience 6 4. Compensation by: Company Size 7 Age 8 Geographic Location 9 Employment Status 9 Education 10 Chapter 11 Gender 12 Position 13 Industry 14 Experience 15 Workplace Sector 15 Experience in Industry 22 5. Benefits by Position 29 6. Taxable Benefits 31 7. Bonuses 32 8. Annual Percentage Increase in Salary 33

Project Background Goals, Methodology and Use The exercise aims to identify the salaries CGAs and students command in the marketplace. Another objective is to better equip CGAs and students to negotiate their salaries and to set salary levels for accounting and financial staff. Target Audience A notification about the availability of the survey was distributed to all existing certified general accountants and current students in the CGA program of professional studies with valid email addresses, as per CGA Ontario s database. All designated sectors and positions were covered in the study; however, those CGAs or students who indicated themselves as being retired or unemployed were not included in the compiled results of the study. Response Rate of Valid Participants: In 2010, 34 per cent completed the survey. Research Method An email invitation, which included the URL link to the survey, was sent to the target audience. Each email was personalized and accompanied by a covering letter, which invited CGAs and students to participate in the salary survey. All respondents were assured of the confidentiality of their response. 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., outliers 1, 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 in-depth report is for the exclusive and personal use of CGAs and students in the CGA program of professional studies. Please keep these versions of the report confidential and do not distribute further without consent from CGA Ontario. (A public executive summary is available on CGA Ontario s website for downloading and printing.) For more information, please contact Chris Buyers, manager, marketing, CGA Ontario at cbuyers@cga-ontario.org. Survey Roll Out The survey was distributed to the target audience for the period of 21 days, running from October 18 to November 8, 2010. 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 75th: 75 per cent of the respondents earned less than the given figure, 25 per cent of the respondents earned more than the given figure. 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. 3

Summary of Findings In 2010, the average annual salary is $100,514 (up $8,372 from 2009). The average value of taxable benefits is approximately $8,989, with an average bonus value of $8,896. $180,000 $160,000 $140,000 Annual Salary $165,000 $120,000 $100,000 $100,514 $106,000 $80,000 $60,000 $70,320 $86,007 Workplace Background of Certified General Accountants The largest percentage of CGAs works within commerce (23 per cent), followed by government (14 per cent), those employed in manufacturing (13 per cent), and public practice (11 per cent). The vast majority of CGAs (86 per cent) are currently employed full-time (permanent, salaried). Eight per cent of CGAs are also employed full-time, on a contract basis, while four per cent of CGAs are selfemployed. Only two 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 designation s resilience and strength as an accounting designation within Canada.indicative of the CGA designation s resilience and strength as an accounting designation within Canada. $40,000 $20,000 $0 25th Percentile 2010 2009 2008 2007 2006 2005 2004 Median Increase in Mean Salary by $8,372K, back to 2008 level Mean Mean 75th Percentile 95th Percentile $100,514 $92,142 $100,000 $94,173 $86,463 $83,720 $80,900 0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 A greater percentage of CGAs (46 per cent) are working within large organizations, which employ 501 or more employees, followed by 23 per cent of CGAs who work in companies that have an employee base of between one and 50. CGAs holding the title of manager make up the highest percentage (24 per cent), followed by controller (18 per cent), accountant (13 per cent), and analyst (12 per cent). Eight-in-ten (81 per cent) of CGAs indicate they have other accounting or business related degrees, of these individuals 48 per cent have a general business and/or commerce degree from a Canadian institution. The majority (61 per cent) of CGAs are working in a metropolitan centre (i.e., more than 500,000 in population). The highest percentages of CGAs (35 per cent) are members of the CGA Ontario Toronto Chapter, followed by Peel Chapter (14 per cent), and the Ottawa Chapter (13 per cent). 2010 2009 2008 2007 2006 2005 2004 Median $86,007 $84,736 Median salary remained $85,000 steady $80,000 between 2008 $78,000 and 2010 $75,000 $70,950 0 20000 40000 60000 80000 100000 4

Working Hours On average, CGAs work 41.9 hours a week. Gender Compared to 2009, the gap in working hours between women and men is closing (43 hours men, compared to 41 hours women). Female 41.06 Thirty five per cent of CGAs work less than 40 hours per week, while forty-six per cent work between 40 and 49 hours per week. On average, 19 per cent of CGAs work 50 or more hours per week. Among CGAs, presidents and CEOs work the most hours (48.3), followed by partners (46.9), VP s and directors (47.2), CFO s and COO s (46.0). On average, accounting clerk s work the least amount of hours (34.0). Male 42.9 0 5 10 15 20 25 30 35 40 45 Mean Hours Company Size 501+ 201-500 101-200 51-100 1-50 42.02 43.06 42.58 42.12 40.91 39 40 41 42 43 44 Mean Hours Geographic Location Rural (all other areas) Small Urban Centre (5,000 to 39,999) Median Urban Centre (40,000 to 199,999) Large Urban Centre (200,000 to 499,999) Metropolitain (Over 500,000) 40.5 41 41.5 42 42.5 43 Mean Hours 5

Gender Distribution Experience The average age of a CGA is 45.3 years. At present, male membership is slightly below female membership. Male CGAs outnumber their female counterparts in selfemployed public practice (where 74 per cent are male and 26 per cent are female). Other sectors where men are more represented than women are primary industry (63 per cent men vs. 37 per cent women), banking (57 per cent men vs. 43 per cent women) and consulting (46 per cent men vs. 44 per cent women). Conversely, women are over-represented in working for non-profit organizations, such as hospitals (71 per cent vs. 29 per cent), charities (67 per cent vs. 33 per cent), non-profit professional associations (59 per cent women vs. 41 per cent men), and in public practice (58 per cent vs. 42 per cent men). CGAs have an extensive amount of experience, as the average amount of Canadian working experience in accounting and finance was demonstrated to be 18.3 years. On average, male CGAs possess 19.6 years of experience, compared to female CGAs whose average experience is 17.2 years. CGAs who hold management-level roles have the most experience, upwards of 20 years: president/ceo 25.8 years, sole proprietor 23.7 years, partner 23.5, CFO 23.4. Gender Distribution Female 52% Male 48% 0% 10% 20% 30% 40% 50% 60% Percent 6

Compensation Compensation is affected by several factors, including sector, position, experience, geographic location and size of the company. Below is 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 ($98,070, on average). Effect of the Company Size 501+ 201-500 101-200 51-100 1-50 $98,070 $97,760 $92,428 $91,455 $88,806 $0 $20,000 $40,000 $60,000 $80,000 $100,000 Mean Salary 7

Effect of Age Age Mean Median Percentile 25 Percentile 75 Percentile 95 Count 25 or below - - - - - 16 26-30 $65,403 $64,500 $55,000 $73,000 $90,000 156 31-35 $77,767 $73,000 $64,000 $85,000 $112,000 483 36-40 $87,246 $80,000 $70,000 $98,410 $140,000 874 41-45 $93,369 $87,000 $72,000 $106,000 $150,000 1057 46-50 $98,697 $90,000 $75,000 $110,000 $175,000 976 51-55 $108,725 $97,000 $80,000 $120,000 $200,000 746 56-60 $104,376 $95,000 $77,345 $120,000 $190,000 451 61-65 $106,902 $100,000 $83,000 $125,000 $175,000 158 66 and above $101,091 $89,000 $60,000 $105,000 $230,000 37 Income increases fairly evenly with age, until peaking at age 65. Ninety-fifth (95th) percentile earnings peak around 61-55, while 25th percentile earnings peak between ages 51-55. 8

Effect of Geographic Location Mean salaries are highest in metropolitan areas, such as Toronto, London, Ottawa, Peel, and Durham*. Effect of Geographic Location 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. Region Size $100000 $90000 $80000 $70000 $80,000 $78,000 Rural (all other areas) Small Urban Centre (5000-39,000) $82,000 $82,500 Medium Urban Centre (40,000-199,999) Large Urban Centre (200,000-499,999) $90,000 Metropolitain (over 500,000) Effect of Employment Status Age Mean Median Percentile 25 Percentile 75 Percentile 95 Count Employed full-time (permanent, salaried) $99,138 $90,000 $75,000 $110,000 $180,000 409 Employed full-time (contract, temporary) $93,839 $86,000 $71,000 $105,000 $156,900 4253 Self-employed, full-time (owner, partner, principal) $61,138 $60,000 $43,680 $75,000 $120,000 88 Part-time employee (contract or permanent) $121,526 $100,000 $75,000 $150,000 $265,000 176 9

Effect of Education Education Mean Median Count PHD $130,897 $110,000 19 MBA $106,962 $100,000 394 Three Year Business Diploma (Non-Can Diploma) $100,498 $91,427 38 Three Year Business Diploma (Can Diploma) $97,318 $87,250 627 Two Year Business Diploma (Can Diploma) $94,862 $87,000 286 General Business/Commerce Degree (Can Degree) $93,946 $86,000 1047 Two Year Business Diploma (Non-Can Diploma ) $92,730 $87,500 31 One Year Post-Graduate Diploma (Can Diploma) $92,080 $82,500 72 Honors Business/Commerce Degree (Can Degree) $91,706 $84,000 866 General Business/Commerce Degree (Non-Can Degree) $83,844 $76,000 391 Honors Business/Commerce Degree (Non-Can Degree) $82,022 $77,000 226 One Year Post-Graduate Diploma (Non-Canadian Diploma) $78,083 $80,800 26 Nearly 90 per cent (89 per cent) of all 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, 22 per cent of CGAs hold an honours business/commerce degree and 23 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 10 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 three 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, 80 per cent, do not have any other designations, including CBV, CFA, LLB and TEP. Younger CGAs are significantly more likely to have obtained an accounting or business-related university undergraduate degree (for example, 96 per cent per cent of those who hold a CGA between the ages of 26 to 30 years of age have obtained a commerce or business-related degree, compared to 66 per cent of CGAs between the ages 56 and 60 who have obtained the same degree). 10

Effect of Chapter Chapter Mean Median Percentile 25 Percentile 75 Percentile 95 Count Belleville $81,467 $81,000 $64,155 $90,000 $148,000 37 Chatham $96,798 $93,000 $76,000 $112,000 $150,000 30 Durham $99,064 $89,594 $72,850 $106,000 $176,600 231 Hamilton $95,692 $86,700 $72,000 $109,000 $156,000 299 Huronia $97,422 $91,150 $69,000 $114,700 $160,000 140 Kingston $86,315 $82,000 $68,000 $97,000 $132,000 64 Kitchener-Waterloo $88,464 $80,000 $69,000 $100,000 $151,367 314 London $83,129 $78,000 $65,200 $93,000 $133,000 291 Niagara $87,167 $80,397 $70,700 $96,000 $150,000 84 North Bay $90,428 $82,000 $70,000 $104,000 $160,000 39 Ottawa $96,116 $90,000 $75,000 $106,000 $155,000 634 Peel $92,686 $87,000 $70,700 $105,000 $150,000 670 Sarnia-Lambton $97,307 $81,500 $68,246 $108,606 $225,000 32 Sault Ste. Marie $76,766 $76,000 $68,120 $88,000 $107,000 19 Sudbury $92,363 $89,000 $76,000 $102,000 $148,000 61 Thunder Bay $80,813 $74,300 $61,000 $98,000 $150,000 49 Toronto $96,421 $87,000 $70,000 $110,000 $170,000 1751 Windsor $92,592 $86,075 $66,000 $110,000 $163,000 79 Out of Province $124,379 $110,000 $83,000 $150,000 $250,000 129 11

Effect of Gender Age Mean Median Percentile 25 Percentile 75 Percentile 95 Count Female $85,884 $80,000 $67,000 $97,000 $97,000 2571 Male $104,125 $94,000 $76,400 $120,000 $120,000 2382 Gender difference does affect the earnings, as the average annual salary of a male CGA is $104,125 as compared to female CGAs earning approximately $85,884, or $18,241 less than men. This difference is most visible at senior-level positions (graph below). $200000 Gender / Position / Salary $180000 $160000 Male Female Mean Salary $140000 $120000 $100000 $80000 $60000 $40000 $20000 $0 Accountant Analyst Auditor CFO Consultant Controller Manager Partner President/CEO Principal Professor/Instructor Sole Proprietor Supervisor Treasurer Vice-President/Director Chief Operating Officier Position 12

Effect of Position Age Mean Median Percentile 25 Percentile 75 Percentile 95 Count Accountant $66,703 $65,000 $55,000 $75,000 $97,000 638 Accounting Clerk - - - - - 9 Analyst $76,440 $73,000 $65,000 $82,371 $99,182 609 Assistant Accountant $60,900 $60,000 $54,900 $65,000 $100,000 17 Auditor $78,813 $80,000 $70,000 $86,523 $100,000 318 CFO $136,960 $125,000 $100,000 $155,000 $225,000 205 Consultant $107,646 $100,000 $85,000 $125,000 $200,000 95 Controller $92,095 $90,000 $76,000 $105,000 $135,000 893 Manager $92,131 $90,000 $77,572 $102,000 $129,500 1171 Partner $176,719 $140,000 $95,000 $205,000 $550,000 37 President/CEO $175,278 $147,500 $100,000 $225,000 $400,000 70 Principal $140,625 $120,000 $100,000 $165,000 $265,000 53 Professor/Instructor/ Lecturer $94,175 $97,942 $80,000 $106,000 $165,000 41 Sole Proprietor $80,597 $78,000 $69,000 $90,000 $103,000 149 Supervisor $98,467 $90,000 $60,000 $125,000 $210,000 62 Treasurer $109,390 $103,018 $82,000 $134,000 $181,350 40 Vice-President/Director $131,925 $128,000 $107,000 $150,000 $200,000 517 Chief Operating Officer $138,365 $114,500 $94,500 $154,500 $260,000 28 13

Per Industry Industry Mean Median Commerce: Banking, Trust Co./Credit Union $95,660 $90,000 Commerce: Consulting $123,679 $100,000 Commerce: Finance/Investment/Mortgage $100,291 $90,000 Commerce: Hospitality $83,486 $79,000 Commerce: Insurance $98,668 $86,500 Commerce: Others $96,755 $90,000 Commerce: Wholesale/Retail Trade $94,646 $83,330 Construction $92,362 $82,800 Crown Corporation $98,068 $90,000 Education: College/University $92,631 $92,750 Education: Elementary and Secondary $111,669 $105,505 Government (Federal): Canadian Customs $97,104 $92,000 Government (Federal): Other $97,597 $93,339 Government (Municipal): $95,730 $90,000 Government (Provincial): Finance $85,618 $85,500 Government (Provincial): Other $93,232 $90,000 Government (Fed) Canada Revenue Agency $84,290 $84,250 Information Technology $100,272 $92,000 Manufacturing $95,496 $86,940 Not-For-Profit: Charities $77,149 $72,950 Not-For-Profit: Hospitals $95,884 $85,000 Not-For-Profit: Other $92,619 $85,000 Not-For-Profit: Professional Association $108,800 $88,500 Primary Industry $107,386 $96,500 Printing/Publishing $98,660 $95,000 Processing $98,009 $90,000 Public Practice Employed $81,944 $72,660 Public Practice Self-Employed $109,156 $100,000 Transportation/Communication $91,178 $85,000 Utilities $105,733 $98,000 14

Effect of Experience Experience within the accounting and finance: - Canadian experience in accounting and finance field Experience in accounting and Mean Median Percentile Percentile Percentile Minimum Maximum Count finance field 25 75 95 0-2 years $72,026 $60,000 $54,000 $98,000 $125,000 $7,000 $150,000 36 3-6 years $72,190 $65,000 $55,000 $77,000 $125,000 $9,000 $650,000 343 7-10 years $78,966 $72,500 $64,000 $85,000 $120,000 $10,000 $685,000 839 11-14 years $87,376 $82,390 $70,000 $96,500 $140,000 $75,250 $300,000 709 15-18 years $95,289 $87,000 $75,000 $105,000 $150,000 $80,000 $612,000 718 19-22 years $100,672 $92,000 $79,500 $110,000 $165,000 $65,000 $625,000 789 23-26 years $103,102 $96,000 $78,250 $120,000 $180,000 $75,000 $430,000 566 27 yrs & above $112,311 $100,000 $85,000 $125,000 $200,000 $100,000 $800,000 953 Experience within current workplace sector¹: sector experience Sector experience Mean Median Percentile Percentile Percentile Minimum Maximum Count 25 75 95 0-2 years $84,093 $77,000 $9,000 $92,500 $135,000 $65,000 $135,000 590 3-6 years $84,874 $77,000 $55,000 $95,000 $145,000 $65,000 $145,000 1237 7-10 years $88,356 $83,000 $77,000 $99,000 $144,000 $70,000 $144,000 1057 11-14 years $97,135 $90,000 $83,000 $110,000 $165,000 $75,000 $165,000 633 15-18 years $106,464 $95,520 $75,000 $115,000 $195,000 $79,761 $195,000 431 19-22 years $104,392 $98,000 $75,000 $115,085 $175,000 $85,000 $175,000 473 23-26 years $113,698 $104,000 $93,000 $132,000 $200,000 $86,000 $200,000 263 27 yrs & above $126,803 $108,000 $10,000 $142,000 $260,000 $94,394 $260,000 270 ¹ Note: Sector experience may also include experience within the accounting and finance fields. 15

Effect of Non-Canadian Experience Non-Canadian experience in accounting and Mean Median Percentile Percentile Percentile Minimum Maximum Count finance field 25 75 95 0-2 years $94,617 $87,000 $71,000 $106,118 $160,000 $75,000 $800,000 3326 3-6 years $89,653 $82,000 $67,000 $98,000 $163,000 $55,000 $625,000 360 7-10 years $92,401 $84,000 $67,000 $100,500 $170,000 $65,000 $450,000 345 11-14 years $99,322 $84,150 $70,000 $107,300 $200,000 $83,000 $612,000 130 15-18 years $95,377 $80,000 $70,000 $101,000 $175,000 $45,000 $400,000 120 19-22 years $86,050 $80,000 $70,000 $93,000 $152,000 $43,200 $200,000 41 23-26 years $98,826 $84,500 $68,600 $125,000 $270,000 $90,000 $270,000 16 27 yrs & above $110,562 $85,000 $70,000 $120,000 $350,000 $48,800 $350,000 13 Salary may also include effect of Canadian Experience, as respondents can have Canadian as well as non-canadian experiences in the accounting and finance fields. 16

Effect of 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 Mean Median Percentile 25 Percentile 75 Percentile 95 Count 0-2 years - - - - - 0 3-6 years $63,262 $60,000 $52,000 $70,000 $95,800 63 7-10 years $73,388 $70,000 $61,250 $80,000 $120,000 215 11-14 years $82,684 $76,250 $66,625 $92,875 $136,850 288 15-18 years $88,966 $82,500 $71,000 $101,000 $145,150 356 19-22 years $101,930 $92,000 $77,450 $115,000 $181,685 361 23-26 years $106,788 $95,440 $79,134 $120,000 $188,500 274 27 years and above $117,090 $102,512 $85,000 $134,000 $210,200 489 Sector experience Mean Median Percentile 25 Percentile 75 Percentile 95 Count 0-2 years $84,404 $78,000 $65,000 $96,550 $148,750 285 3-6 years $85,681 $77,090 $65,000 $97,000 $150,000 594 7-10 years $91,851 $85,000 $71,000 $102,000 $150,000 480 11-14 years $100,554 $92,100 $74,000 $115,000 $180,374 276 15-18 years $106,774 $97,500 $76,600 $120,000 $200,638 217 19-22 years $108,847 $100,000 $86,750 $124,000 $180,810 213 23-26 years $116,380 $105,000 $88,750 $139,250 $200,000 121 27 years and above $140,514 $121,000 $95,375 $157,250 $318,750 125 Industry sector includes the following sectors: 1. Primary Industry 2. Manufacturing 3. Processing 4. Construction 5. Transportation/Communication 6. Utilities 7. Printing/Publishing 8. Commerce: Wholesale/Retail Trade 9. Commerce: Banking/Trust Co/Credit Union 10. Commerce: Finance/Investment Mortgage 11. Commerce: Insurance/Real Estate 12. Commerce: Hospitality 13. Commerce: Other 14. Commerce: Consulting 17

Government Sector Experience in government sector (Canadian + non-canadian experience) Experience in accounting and finance field Mean Median Percentile 25 Percentile 75 Percentile 95 Count 0-2 years - - - - 5 3-6 years $75,703 $75,000 $62,000 $82,030 $115,400 27 7-10 years $89,568 $80,000 $70,051 $88,372 $118,800 80 11-14 years $84,816 $82,912 $73,250 $93,460 $117,750 68 15-18 years $84,356 $83,000 $73,000 $93,000 $119,600 87 19-22 years $93,765 $92,000 $83,103 $105,000 $125,500 81 23-26 years $96,629 $94,000 $83,000 $108,481 $137,700 73 27 years and above $102,577 $95,689 $87,197 $114,250 $151,775 162 Sector experience Mean Median Percentile 25 Percentile 75 Percentile 95 Count 0-2 years $85,105 $82,000 $70,000 $96,500 $132,900 91 3-6 years $94,178 $82,989 $72,000 $97,150 $139,950 160 7-10 years $89,363 $86,000 $78,000 $95,750 $125,725 152 11-14 years $90,042 $88,000 $82,000 $99,346 $120,700 85 15-18 years $96,626 $93,000 $82,750 $107,750 $121,300 46 19-22 years $103,575 $99,000 $89,425 $111,285 $146,300 58 23-26 years $107,568 $105,500 $94,298 $117,500 $169,500 44 27 years and above $114,017 $107,700 $95,200 $127,500 $184,900 41 Government sector includes the following sectors: 1. Government (Federal): Revenue Canada 2. Government (Federal): Other 3. Government (Provincial): Finance 5. Government (Municipal) 6. Crown corporation 7. Printing/Publishing 4. Government (Provincial): Other 18

Public Practice Employed Experience in public practice employed (Canadian + non-canadian experience) Experience in accounting and finance field Mean Median Percentile 25 Percentile 75 Percentile 95 Count 0-2 years.... 0 3-6 years - - - -. 9 7-10 years $71,594 $64,750 $53,750 $91,250. 18 11-14 years $83,510 $76,500 $65,000 $110,000 $136,150 30 15-18 years $95,018 $92,000 $71,450 $113,250 $150,000 29 19-22 years $105,837 $97,000 $78,500 $115,000 $202,000 29 23-26 years $108,392 $104,000 $80,000 $125,500 $183,450 26 27 years and above $128,627 $120,000 $78,000 $175,000 $275,000 39 Sector experience Mean Median Percentile 25 Percentile 75 Percentile 95 Count 0-2 years $76,606 $75,000 $65,000 $90,000. 19 3-6 years $73,982 $68,500 $58,500 $91,000 $131,500 49 7-10 years $97,826 $90,000 $70,675 $120,000 $186,350 50 11-14 years $111,613 $108,875 $82,225 $126,500 $213,750 28 15-18 years $115,846 $110,000 $82,400 $140,000 $202,400 28 19-22 years $115,044 $100,500 $85,000 $145,500. 16 23-26 years $161,136 $140,000 $102,500 $250,000. 11 27 years and above $173,667 $175,000 $75,000.. 3 19

Public Practice Self Employed Public practice self-employed (Canadian + non-canadian experience) Experience in accounting and finance field Mean Median Percentile 25 Percentile 75 Percentile 95 Count 0-2 years - - - - - - 3-6 years $50,000 $50,000 $50,000 $50,000 $50,000 2 7-10 years $75,000 $75,000 $50,000.. 3 11-14 years $71,840 $68,500 $57,300 $74,750. 10 15-18 years $82,494 $75,750 $64,000 $95,000. 11 19-22 years $74,300 $78,000 $65,000 $81,750. 5 23-26 years $109,333 $103,000 $95,000.. 3 27 years and above $101,778 $95,000 $78,000 $102,000. 9 Sector experience Mean Median Percentile 25 Percentile 75 Percentile 95 Count 0-2 years $75,500 $68,500 $65,500 $92,500. 4 3-6 years $69,893 $65,000 $50,000 $77,000. 15 7-10 years $80,560 $75,000 $71,400 $90,022. 7 11-14 years $88,501 $81,000 $64,000 $90,000. 11 15-18 years $98,000 $99,000 $95,000.. 3 19-22 years $97,200 $95,000 $83,000 $112,500. 5 23-26 years - - - - - 2 27 years and above - - - - - 1 20

Other Sectors Other sector experience (Canadian + non-canadian) Experience in accounting and finance field Mean Median Percentile 25 Percentile 75 Percentile 95 Count 0-2 years - - - - - 3 3-6 years $95,387 $65,000 $58,000 $79,000 $560,000 23 7-10 years $73,732 $70,000 $60,000 $80,000 $114,860 100 11-14 years $83,732 $79,950 $66,000 $90,000 $157,150 128 15-18 years $88,173 $85,000 $70,500 $100,000 $140,000 145 19-22 years $94,742 $85,000 $74,068 $115,000 $150,000 147 23-26 years $101,250 $90,000 $74,000 $120,000 $190,000 121 27 years and above $109,340 $97,000 $78,000 $120,245 $198,800 228 Sector experience Mean Median Percentile 25 Percentile 75 Percentile 95 Count 0-2 years $85,051 $75,000 $65,000 $90,000 $132,500 149 3-6 years $84,472 $78,000 $67,000 $93,800 $150,000 305 7-10 years $91,103 $85,000 $71,350 $100,500 $150,000 207 11-14 years $99,896 $90,000 $73,000 $115,000 $175,000 128 15-18 years $121,053 $100,050 $82,000 $130,750 $222,750 82 19-22 years $103,087 $100,000 $80,000 $121,000 $183,300 73 23-26 years $121,204 $105,000 $87,000 $146,000 $254,000 51 27 years and above $125,090 $110,000 $96,541 $149,000 $284,000 33 Other sector includes the following sectors: 1. Education: Elementary & Secondary 2. Education: College & University 3. Not-for-Profit: Professional Association 4. Not-for-Profit: Hospitals 5. Not-for-Profit: Charities 6. Not-for-Profit: Other 21

Experience in Workplace Sector Commerce: Banking, Trust Company/Credit Union 0 to 5 years $62,756 $62,000 $54,250 $85,375. 10 6 to 10 years $75,727 $73,000 $67,250 $85,000 $113,250 44 11 or more years $106,932 $100,000 $86,000 $125,000 $178,000 107 Commerce: Consulting 0 to 5 years $56,750 $54,500 $52,500 $63,250. 4 6 to 10 years $113,900 $87,500 $65,750 $147,500. 10 11 or more years $128,827 $100,000 $87,500 $146,000 $300,000 71 Commerce: Finance/Investment/Mortgage 0 to 5 years $61,000 $54,250 $42,750 $66,250. 14 6 to 10 years $85,590 $71,000 $65,000 $100,000 $181,500 41 11 or more years $108,081 $99,950 $78,000 $125,000 $200,000 149 Commerce: Hospitality 0 to 5 years $49,000 $49,000 $49,000 $49,000 $49,000 1 6 to 10 years $62,120 $57,500 $49,800 $72,000. 10 11 or more years $90,193 $86,000 $70,700 $99,500 $138,700 37 Commerce: Insurance/Others 0 to 5 years $98,550 $70,650 $60,500 $159,000. 6 6 to 10 years $78,893 $72,000 $65,000 $83,000 $133,200 43 11 or more years $105,717 $92,000 $79,500 $117,015 $187,300 118 22

Commerce: Others 0 to 5 years $91,979 $70,250 $58,000 $100,250. 14 6 to 10 years $79,492 $75,500 $63,203 $90,000 $130,725 41 11 or more years $103,641 $96,500 $76,014 $120,000 $184,500 110 Commerce: Consulting 0 to 5 years $56,750 $54,500 $52,500 $63,250. 4 6 to 10 years $113,900 $87,500 $65,750 $147,500. 10 11 or more years $128,827 $100,000 $87,500 $146,000 $300,000 71 Commerce: Finance/Investment/Mortgage 0 to 5 years $61,000 $54,250 $42,750 $66,250. 14 6 to 10 years $85,590 $71,000 $65,000 $100,000 $181,500 41 11 or more years $108,081 $99,950 $78,000 $125,000 $200,000 149 Commerce: Hospitality 0 to 5 years $49,000 $49,000 $49,000 $49,000 $49,000 1 6 to 10 years $62,120 $57,500 $49,800 $72,000. 10 11 or more years $90,193 $86,000 $70,700 $99,500 $138,700 37 Commerce: Insurance/Others 0 to 5 years $98,550 $70,650 $60,500 $159,000. 6 6 to 10 years $78,893 $72,000 $65,000 $83,000 $133,200 43 11 or more years $105,717 $92,000 $79,500 $117,015 $187,300 118 23

Commerce: Others 0 to 5 years $91,979 $70,250 $58,000 $100,250. 14 6 to 10 years $79,492 $75,500 $63,203 $90,000 $130,725 41 11 or more years $103,641 $96,500 $76,014 $120,000 $184,500 110 Commerce: Wholesale/Retail Trade 0 to 5 years $65,541 $58,500 $53,250 $78,500 $132,500 26 6 to 10 years $72,664 $70,000 $60,000 $77,500 $122,500 69 11 or more years $102,913 $95,000 $72,140 $120,000 $180,000 276 Construction 0 to 5 years $56,750 $51,000 $42,750 $76,500. 4 6 to 10 years $78,950 $74,000 $63,750 $85,000 $140,830 29 11 or more years $97,702 $87,000 $72,350 $110,000 $192,800 97 Crown Corporation 0 to 5 years $91,000 $93,000 $75,000.. 3 6 to 10 years $81,218 $78,250 $70,250 $89,867. 12 11 or more years $102,364 $97,250 $81,825 $115,000 $168,550 52 Education: College/University 0 to 5 years - - - - 0 6 to 10 years $76,510 $75,125 $65,463 $88,250. 5 11 or more years $115,957 $108,000 $88,048 $140,000 $195,890 41 24

Government (Federal): Canadian Customs 0 to 5 years - - -. - 0 6 to 10 years $112,000 $112,000 $109,000.. 2 11 or more years $87,173 $87,520 $82,000.. 3 Government (Federal): Other 0 to 5 years $84,297 $82,000 $60,000 $108,500. 16 6 to 10 years $94,166 $80,750 $72,100 $89,475 $140,950 56 11 or more years $100,511 $96,725 $88,000 $108,000 $140,000 139 Government: (Municipal) 0 to 5 years $74,512 $69,485 $61,275 $88,500. 6 6 to 10 years $94,615 $73,000 $66,300 $84,000 $332,800 31 11 or more years $96,735 $93,000 $80,863 $107,500 $145,000 161 Government (Provincial): Finance 0 to 5 years $71,500 $72,500 $62,000.. 3 6 to 10 years $80,647 $78,000 $70,000 $87,500 $117,750 27 11 or more years $87,458 $86,350 $80,250 $93,000 $116,900 97 Government (Provincial): Other 0 to 5 years $64,750 $64,750 $63,500.. 2 6 to 10 years $76,060 $74,000 $70,000 $80,000. 11 11 or more years $97,622 $94,800 $84,650 $109,500 $136,350 56 25

Manufacturing 0 to 5 years $79,128 $60,000 $50,000 $75,000 $313,000 23 6 to 10 years $78,858 $72,000 $63,750 $88,050 $128,660 117 11 or more years $100,257 $90,000 $75,000 $112,750 $171,925 490 Not-For-Profit: Charities 0 to 5 years $73,800 $70,000 $59,500 $90,000. 5 6 to 10 years $62,188 $61,000 $55,000 $72,950 $96,863 23 11 or more years $80,983 $74,650 $65,495 $95,061 $132,750 105 Not-For-Profit: Hospitals 0 to 5 years $73,800 $70,000 $59,500 $90,000. 5 6 to 10 years $71,827 $72,000 $65,000 $82,000. 18 11 or more years $102,511 $89,000 $78,300 $103,175 $207,150 83 Not-For-Profit: Other 0 to 5 years $66,500 $67,500 $60,000 $85,000. 7 6 to 10 years $75,531 $78,600 $63,125 $85,000 $105,000 24 11 or more years $98,732 $90,000 $75,000 $112,155 $173,200 97 Not-For-Profit: Professional Association 0 to 5 years - - - - - 0 6 to 10 years $76,315 $70,000 $60,000 $83,000. 13 11 or more years $122,422 $114,000 $78,000 $155,000 $314,000 31 26

Primary Industry 0 to 5 years $93,000 $93,000 $90,000.. 2 6 to 10 years $79,167 $71,000 $60,000 $90,000. 15 11 or more years $117,214 $103,850 $85,025 $136,250 $249,500 46 Printing/Publishing 0 to 5 years $87,500 $87,500 $45,000.. 2 6 to 10 years $82,192 $75,500 $69,750 $98,288. 6 11 or more years $101,477 $97,500 $81,000 $120,000 $159,380 43 Processing 0 to 5 years $60,000 $60,000 $55,000.. 2 6 to 10 years $78,867 $75,000 $70,000.. 3 11 or more years $109,129 $101,500 $85,288 $129,600. 12 Public Practice - Employed 0 to 5 years $56,099 $53,020 $48,250 $63,000 $85,000 32 6 to 10 years $65,823 $63,000 $52,000 $73,000 $113,500 105 11 or more years $90,372 $80,000 $64,375 $100,000 $160,000 300 Public Practice Self-Employed 0 to 5 years $70,667 $45,000 $42,000.. 3 6 to 10 years $69,300 $74,000 $47,500 $86,250. 10 11 or more years $114,510 $100,000 $71,250 $143,750 $252,250 97 27

Transportation/Communication 0 to 5 years $51,025 $55,125 $37,500 $62,500. 5 6 to 10 years $75,740 $67,885 $64,625 $88,750 $130,000 24 11 or more years $96,467 $90,000 $75,000 $109,000 $161,400 108 Utilities 0 to 5 years $94,000 $94,000 $63,000.. 2 6 to 10 years $86,232 $85,000 $74,000 $100,000. 11 11 or more years $109,233 $100,000 $89,250 $127,198 $191,900 68 28

Benefits The table below displays the percentage of respondents receiving respective benefits. For example, 55 per cent of CGAs indicated they would receive a pension. Benefits (%) Position Drug Plan Dental Plan Vision Care Training Pension Hospitalization All CGA s 85% 84% 70% 62% 58% 52% Accountant 74% 71% 56% 48% 40% 37% Accounting Clerk 44% 56% 56% 33% 33% 33% Analyst 88% 89% 77% 64% 73% 46% Assistant Accountant 76% 65% 35% 29% 24% 29% Auditor 92% 93% 80% 65% 78% 55% CFO 89% 88% 70% 65% 55% 68% Consultant 61% 61% 52% 48% 43% 39% Controller 89% 88% 70% 60% 45% 52% Manager 89% 87% 75% 70% 65% 54% Partner 54% 49% 35% 38% 30% 35% President/CEO 60% 57% 50% 49% 39% 49% Principal 57% 55% 40% 42% 28% 40% Professor/Instructor/Lecturer 80% 83% 73% 32% 66% 59% Supervisor 91% 92% 83% 74% 70% 53% Sole Proprietor 15% 13% 5% 11% 3% 6% Treasurer 95% 93% 88% 78% 75% 80% Vice-President/Director 93% 93% 79% 75% 68% 68% Chief Operating Officer 86% 86% 75% 71% 61% 64% There is no broad significant difference in the benefits received among male and female CGAs. 29

Benefits (%) Position Education Membership Laptops Parking Share Car Interest Subsidy Subscriptions Option Free Loans ALL CGA s 47% 46% 29% 24% 14% 7% 4% Accountant 37% 34% 17% 18% 8% 2% 4% Accounting Clerk 33% 33% 0% 11% 11% 0% 0% Analyst 44% 48% 21% 13% 13% 0% 4% Assistant Accountant 29% 35% 12% 24% 6% 6% 6% Auditor 50% 45% 19% 10% 3% 1% 0% CFO 47% 46% 49% 35% 11% 20% 7% Consultant 41% 28% 33% 17% 17% 7% 0% Controller 51% 48% 31% 24% 12% 9% 4% Manager 50% 49% 29% 27% 17% 2% 5% Partner 43% 22% 41% 35% 8% 5% 8% President/CEO 39% 33% 47% 29% 17% 46% 6% Principal 51% 32% 38% 32% 11% 19% 8% Professor/Instructor/Lecturer 17% 59% 34% 2% 2% 0% 5% Supervisor 48% 51% 19% 23% 9% 0% 6% Sole Proprietor 13% 5% 11% 6% 3% 16% 0% Treasurer 48% 58% 30% 33% 8% 5% 5% Vice-President/Director 57% 58% 49% 43% 30% 17% 7% Chief Operating Officer 29% 54% 43% 36% 4% 21% 4% 30

Value of Taxable Benefits Annual Value of Taxable Benefits ($) Position Mean Median Percentile Percentile Percentile Minimum Maximum Count 25 75 95 Accountant $4,975 $3,500 $2,000 $6,000 $21,000 $94 $98,000 638 Accounting Clerk $1,643 $4,000 $2,000 $5,500 $5,500 $2,000 $5,500 9 Analyst $6,744 $5,000 $2,010 $10,000 $22,000 $100 $110,000 609 Assistant Accountant $4,241 $5,000 $2,000 $11,800 $14,000 $1,000 $14,000 17 Auditor $5,983 $5,000 $2,000 $10,000 $20,000 $50 $88,000 318 CFO $16,520 $10,000 $5,000 $20,000 $50,000 $200 $200,000 205 Consultant $5,855 $8,000 $3,000 $15,000 $30,000 $1,000 $40,000 95 Controller $8,423 $6,000 $3,000 $12,000 $30,000 $120 $145,000 893 Manager $6,000 $6,000 $3,000 $12,000 $30,000 $10 $140,000 1171 Partner $9,039 $5,000 $2,500 $20,000 $100,000 $1,000 $100,000 37 President/CEO $8,583 $15,000 $9,500 $30,000 $50,000 $1,000 $75,000 70 Principal $15,318 $10,000 $5,000 $17,000 $25,000 $100 $25,000 53 Professor/Instructor/ Lecturer $7,760 $5,000 $2,000 $10,000 $25,000 $160 $30,000 41 Sole Proprietor $5,971 $5,000 $2,000 $10,000 $22,092 $200 $50,000 149 Supervisor $6,145 $7,000 $5,000 $15,000 $60,000 $1,000 $60,000 62 Treasurer $2,656 $10,000 $5,528 $20,000 $32,000 $500 $35,000 40 Vice-President/Director $12,546 $13,500 $6,000 $25,000 $50,000 $15 $245,000 517 Chief Operating Officer $17,319 $10,500 $5,000 $20,000 $25,000 $2,000 $28,000 28 31

Bonuses Annual Bonus ($) Position Mean Median Percentile Percentile Percentile Minimum Maximum Count 25 75 95 Accountant $2,587 $3,500 $2,000 $7,000 $15,000 $100 $60,000 638 Accounting Clerk $111 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 9 Analyst $2,806 $5,000 $2,500 $7,000 $12,000 $3,000 $100,000 609 Assistant Accountant $1,765 $3,500 $750 $5,500 $10,000 $500 $10,000 17 Auditor $1,002 $3,000 $2,200 $8,000 $15,000 $3,000 $35,000 318 CFO $24,293 $25,000 $10,000 $50,000 $150,000 $500 $612,000 205 Consultant $6,447 $10,000 $5,000 $25,000 $47,500 $2,000 $80,000 95 Controller $9,358 $10,000 $5,000 $16,000 $35,000 $3,000 $400,000 893 Manager $6,953 $8,000 $4,000 $13,500 $30,000 $8,000 $100,000 1171 Partner $20,487 $17,500 $5,000 $50,000 $300,000 $100,000 $300,000 37 President/CEO $28,750 $75,000 $20,000 $100,000 $200,000 $8,000 $250,000 70 Principal $10,658 $14,000 $8,000 $37,500 $115,000 $2,500 $150,000 53 Professor/Instructor/ Lecturer $1,744 $10,000 $1,500 $60,000 $60,000 $1,500 $60,000 41 Sole Proprietor $2,784 $4,000 $2,500 $6,000 $10,000 $10 $25,000 149 Supervisor $484 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 62 Treasurer $9,325 $25,000 $10,000 $40,000 $130,000 $3,000 $130,000 40 Vice-President/Director $26,572 $20,000 $10,000 $38,750 $100,000 $155 $342,000 517 Chief Operating Officer $10,393 $15,000 $8,000 $25,000 $100,000 $5,000 $100,000 28 32

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% - 5% 6% - 10% 11% - 15% 16% - 20% 21% - 25% 26% - 30% More Than 30% No Answer 0% 10% 20% 30% 40% 33