CAs are holding their own

National average compensation unchanged between 2007 and 2009 — and three CAs looking over the Vancouver Olympics

By Christian Bellavance, Editor-in-chief

The results of the latest national compensation survey for the CA profession are out, and CAs seem to have weathered the first leg of the recession very well. Conducted in June last year, the survey covered compensation for 2008. Interestingly, the national average turned out to be just one dollar less than the last survey at $186,543, down from $186,544.

There are lots of variances in terms of region, practice, etc. John Lorinc’s article “Strong & steady” (p. 18) analyzes not only the compensation numbers, but the demographics of respondents, which totaled 15,981, for a response rate of 29%. For example, more respondents (61%) are under the age of 45, while this group represents only 48% of all CAs. The median figures offer a better picture — a 3.1% increase, from $123,000 to $126,857.

The recession hit CAs in industry more than in public practice and in the public sector, as total compensation dropped in oil and gas, mining and others. President-CEO respondents also reported a compensation decline from the last survey, done two years before. Atlantic and Prairie provinces fared better than the larger provinces of Ontario, Quebec and British Columbia.

Three CAs will cheer with millions of other Canadians when the 2010 Vancouver Winter Olympic Games open on February 12. Interestingly, they may cheer even louder when the Games close. Dave Cobb, executive vice-president, revenue, marketing and communications and deputy CEO; John McLaughlin, vice-president and CFO; and Terry Wright, executive vice-president of services and games operations, are members of the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games (VANOC). They were running a pretty tight ship until the global credit crisis in 2008. Roberta Staley tells of their ordeal in “Going for gold” (p. 26).

This month, our Regulars section offers articles on taxation (p. 32), information technology (p. 35) and a particularly timely piece about personal financial planning considering the season and the performance of the Canadian dollar: buying property in the US (p. 40).

At a time when credit card companies are poised to enter the Canadian debit card market, Jim Carroll tells us in his Netwatch column that they might be too late (p. 12). Finally, this first issue of the new decade concludes with Marcel Côté discussing another public issue very close to all Canadians: the healthcare system (Outlook, p. 52).

From everyone at CAmagazine, Happy New Year.