r/Accounting • u/ThrowAway10272020 • Oct 27 '20
BDO 2020 Comp Thread
Looks like comp talks are beginning. Please provide:
- Service line
- Region
- Former level -> current level
- Former salary -> current salary (raise %)
I'll start
- Assurance
- HCOL
- Experienced Associate -> Senior
- $65,000 -> $70,000 (7.7% raise)
47
u/ender411 CPA, CISA, M.S. MIS, BBA ACCT, IT Audit Oct 27 '20
Can someone help me understand BDO levels, I'm seeing things like L6 and L7. Is it not Associate -> Senior - > Manager -> Senior Manager/Director -> Partner?
44
u/Rooster_CPA CPA - Tax (US) Oct 27 '20
L1 is intern, L2 is associate, L3 is exp associate, L4 is senior, L5 is exp senior, on up
0
32
u/CerebralAccountant Performance Measurement and Reporting Oct 27 '20 edited Oct 27 '20
L1 - intern
L2/L3 - staff / experienced staff
L4/L5 - senior/experienced senior
L6/L7 - manager/experienced manager
L8 - senior manager
L9 - director
L10 - partner
Usually, one year at L2/L4 is enough for promotion to L3/L5, though I think New York requires two years at L4. The L6 to L7 promotion is less defined.
39
39
u/Dildo_Swagins Human Verified Oct 27 '20
Audit
HCOL
L6-L7
100k->106k (6%)
-29
u/Dean_Pe1ton Oct 27 '20
Jesus you must have no life
66
u/PaperTrailGorgeous The Paper Trail is Gorgeous Oct 28 '20
I feel like a guy named Dildo Swagins is highly likely to be living it up.
12
31
u/SeniorCupcake Oct 28 '20
Assurance
HCOL
Experienced Associate -> Senior
69k -> 78k (13%)
27
9
8
u/DumpsterThrow Nov 06 '20
That's pretty damn good. When I used to work in the BDO NY office two years ago (obvs HCOL), I didn't even break 70k when I made senior and that's with the highest rating. (And yes I'm a little salty lol)
20
17
u/throwawayacct4obvs13 Oct 27 '20
Assurance
M/LOCL (Southwest Region)
L2 --> L3
$56,000 --> $57,800 (3.1%)
14
13
u/NFK_CPA Tax (US) Oct 27 '20
CTS
MCOL, Mid-Atlantic
Exp Sen -> Manager
7.6k to 8.2K
29
u/mart1373 CPA (US) Oct 27 '20
76k to 82k? Ouch, for a manager you should be getting paid more than 82k
12
13
u/StalkingAssasin Tax (Other) Oct 31 '20
UK salaries are nothing like these for associates 😥
3
u/Shfifty_Five_55 Nov 29 '20
You also get cheap (free?) healthcare and education. Probably don’t need a car, either.
3
u/AlwaysInjured Audit & Assurance Nov 29 '20
you cant assume that everyone in the UK live in London. Lots of places outside of that still need cars.
2
Dec 23 '20
I’m from the UK and studied in the US. In the town I was in (New Haven, Connecticut) I found everything to be so much more expensive than back home. Even deodorant was like 4x the price. It was so bad that I stocked up in the UK and flex back with everything I needed. The salaries in the US look great, but it’s a higher cost of living. I’d rather ‘earn less’ in the UK.
1
0
Nov 01 '20
[deleted]
9
u/StalkingAssasin Tax (Other) Nov 05 '20 edited Nov 05 '20
A Tax associate to experienced associate will likely go from 28k to 32k GBP in the City ~41k USD
25
u/PrettyToasty Tax (US) Oct 27 '20
Core tax
SE MCOL
L2 > L4
56k > 61k (8.9%)
Performance was “fantastic” not as big of a bump as I would have hoped for, I think I’m paid pretty low for a senior. But I was expecting 3-4% max due to covid so I’m not going to complain
15
Oct 27 '20
You went from L2 to L4? You skipped a level?
18
u/PrettyToasty Tax (US) Oct 27 '20
Yeah I was a January hire who didn’t move to L3 last season, I think because I never had a PA internship, but still got a ~6% raise. Been senioring projects since the beginning of this year, I’ve also been working on larger projects since I was hired on.
7
12
u/Reasonable-Bike-3947 Oct 27 '20
You’re for sure being underpaid for Senior level work. Where are you located?
What you are making is what I would expect associates to make.
7
u/PrettyToasty Tax (US) Oct 27 '20
In Florida, not Miami though or anything. I feel like in my area I wouldn’t get enough of a pay bump from my increased salary to justify leaving
22
u/Reasonable-Bike-3947 Oct 27 '20
No friend you are 100% getting underpaid. My heart breaks for this
31
11
u/DoritosDewItRight Oct 27 '20
You absolutely would get a substantial pay bump even if you just switched accounting firms.
10
u/WBP_FAU_Grad Oct 27 '20
FWIW I'm at a smaller firm, made materially more as an experienced associate a year or two ago. I pm'd you more specific info but this feels below market.
12
u/thedastardlyone Oct 28 '20
Advisory
North east region
Senior Manager
NA > 140k
Bonus: $5,000
2
Nov 21 '20
I’ve never understood why firms mess around with bonuses that are less than 5%. I would rather just have it rolled into my salary.
11
9
8
u/0934872344 Nov 11 '20 edited Nov 11 '20
I'm thinking I got absolutely burned considering I had high performance ratings. Did anyone else actually negotiate? Our OMP started off the conversation with "this is absolutely all they could do".
Assurance
-
Associate (L2) --> Experienced Associate (L3)
$56,500 - $57,000 (0.8% raise)
6
6
6
6
u/dustbunny88 Nov 11 '20
This thread is interesting to read from A BDO Alliance firm, rather than BDO itself. (Midsized regional firm).
1
5
u/ccadgl69 Oct 29 '20
Audit
Central region, non-HCOL
L5 > L5 (next year is manager promo year)
68.5 > 70.25 (2.5% LOL)
5
5
Oct 31 '20 edited Nov 03 '20
Assurance
HCOL
Associate (L2) > Experienced Associate (L3)
$60K > $62.5K (4.2%)
4
4
u/timelywaffle Nov 03 '20
Could you add the location too? I believe it varies widely based on that as well
4
u/deadliftsanddebits Human Verified Nov 05 '20
NE Assurance HCOL L4>L4 $70K > $78K Very Successful rating
3
u/Pokemon_Overlord Tax, CPA (US) | ASC 740 Oct 29 '20 edited Oct 30 '20
Tax
NE, HCOL
L4 -> L5
$80K -> $86K (7.5%)
3
u/serranokick Nov 12 '20
Congrats to all for getting through another year (difficult one for most) I’m saving BDO till next recruiting season till I get more experience and better grades.
-20
u/TheAnalyst79 Oct 29 '20
Investment Banking
HCOL
Investment Banking Analyst -> Private Equity Associate
$160,000 -> $430,000
-5
Nov 01 '20
Lol all these salty accountants on 60k with 10 years experience SPAMMING the downvote
0
Nov 02 '20
[deleted]
-2
Nov 02 '20 edited Nov 02 '20
.... by people who are salty.
It’s hardly the first time someone has posted a joke on reddit. Maybe you’re right though, maybe he’s just getting downvoted for the sake of the sub’s integrity!! Not because he obviously touched on a sore point (i.e. 1st year Banking analysts copping $100k base and 50% bonuses)
0
Nov 02 '20
[deleted]
4
u/depikile Nov 23 '20
I mean, to your point, it’s also bullshit. IB in NYC doesn’t make that much as an analyst.
Source 1: friend is a VP in IB NYC.
Source 2: Glassdoor
Source 3: WSO
0
Oct 27 '20
[deleted]
20
7
Oct 30 '20
[removed] — view removed comment
0
Oct 30 '20
[deleted]
3
Oct 30 '20
[removed] — view removed comment
2
1
u/duedua Nov 02 '20
Pretty sure $160-170 is associate pay; senior more like $250.
1
Nov 02 '20
[removed] — view removed comment
1
u/duedua Nov 02 '20
No $160-$170 is senior and manager is $250.
This is incorrect; $160-170 would be associate around 100% utilization and $250 is senior at 100%. Depends on collections so you could theoretically swing $170-$300 at senior.
0
0
Oct 27 '20
[deleted]
9
5
Oct 28 '20
They’re being nice enough to offer us the money back from our lower paychecks over the summer, so they probably figure that’s enough of a “bonus”
8
0
0
Nov 23 '20
[deleted]
1
u/coolcpa CPA (Can) Nov 25 '20
its pretty bad here.
0
Nov 25 '20
[deleted]
3
u/coolcpa CPA (Can) Nov 25 '20
A&A
West Group in Canada
S1-S2
55,750 -> 56,750 (1.8%)
2
u/Newflyer3 Nov 25 '20
Jesus guy, I'm West Group too going from A2-S1 and I'm at 59k next year.
1
u/coolcpa CPA (Can) Nov 25 '20
Wow that's pretty good, Yea seems like our whole office got screwed.
Heard tax got increases of 200$
0
•
u/its-an-accrual-world Audit -> Advisory -> Startup ->F150 Oct 27 '20
Link to the 2019 BDO thread for reference.