What Normandin Beaudry does

Normandin Beaudry is a privately held, independent Canadian consulting firm founded in 1992 and headquartered in Montreal, with additional offices in Toronto and Quebec City. The firm specializes in total compensation (rémunération globale) advisory and serves large enterprises, small and medium enterprises, public and parapublic organizations, municipalities, and non-profits across Canada. Its portfolio is organized across nine integrated expertise areas: Santé (health), Talent et culture (talent and culture), Assurance collective (group insurance), Rémunération (compensation), Retraite et épargne (retirement and savings), Administration des régimes de retraite (pension plan administration), Gestion d'actifs (asset management), Communication, and Innovation et solutions logicielles (innovation and software solutions). The firm also publishes an annual proprietary salary increase survey, now in its 16th edition.

The firm is wholly owned by its 350+ specialists with no external investors, and is the first Canadian firm in total compensation consulting to achieve B Corp certification. In 2023 it became an equal shareholder in MBWL International to support clients with international operations. Its core technology is professional advisory — actuarial valuations, pay equity compliance, pension plan design and risk management, group insurance negotiation, and compensation benchmarking — augmented by technology solutions for pension plan administration. The firm has adopted a formal responsible AI usage policy integrated into its governance framework but has no disclosed AI/ML products or proprietary models.

Revenue is generated through project-based consulting engagements and recurring advisory mandates, primarily on a fee-for-service professional services basis, with pricing not publicly disclosed. The go-to-market motion is sales-led, relying on direct specialist engagement and referrals from a long-tenured client base. The firm does not have a public API, mobile app, or developer platform, and operates as a horizontal service provider across sectors rather than a verticalized SaaS product company.

Name

Normandin Beaudry

Legal name

Normandin Beaudry, Actuaires conseil inc.

Website

https://normandin-beaudry.ca

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

251–500 employees

Short description

Normandin Beaudry is an independent Canadian consulting firm specializing in total compensation advisory — covering compensation, group insurance, retirement, talent, and asset management — serving large enterprises, SMEs, public sector entities, municipalities, and non-profits across Canada.

Ownership category

akta.pro rank

Product category

Compensation and Benefits Consulting

NAICS

Management Consulting Services (54161), Other Management Consulting Services (541618)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Compensation, Benefits & Total Rewards Advisory (BPACAJAG)

akta.pro secondary industries

Compensation, Benefits & Rewards Consulting (BPAHAGAF), Employee Benefits Brokerage & Consulting (FSAEADAC)

Keywords

• Compensation consulting
• Group insurance advisory
• Pension plan consulting
• Talent management consulting
• Total rewards advisory

Headquarters

HQ city

Montreal

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Consulting Services: Professional advisory services in total compensation, including health, group insurance, retirement plans, talent management, communication, savings, and asset management consulting. Revenue generated through consulting engagements with organizations across Canada.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Normandin Beaudry is an independent Canadian consulting firm offering advisory services in total compensation, including health, group insurance, retirement plans, talent management, communication, savings, and asset management. Services are delivered to organizations across Canada through specialist consultants from offices in Montreal, Toronto, and Quebec City. The firm also provides pension plan administration and proprietary technology solutions to manage those plans.

Product overview

Normandin Beaudry is a boutique consulting firm offering advisory services in global compensation (rémunération globale). The portfolio is organized as a set of nine integrated expertise areas that clients can draw on individually or in combination: Santé (health), Talent et culture (talent and culture), Assurance collective (group insurance), Rémunération (compensation), Retraite et épargne (retirement and savings), Administration des régimes de retraite (pension plan administration), Gestion d'actifs (asset management), and Communication. A distinct tenth offering is Innovation et solutions logicielles, which provides technological solutions for pension plan management. Additionally, the firm conducts an annual survey on salary increases as a proprietary intelligence product. The firm's nine expertise areas function as a unified integrated framework rather than discrete software products, and there is no public API, app, or developer platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Santé (Health) Advisory expertise covering solutions for reducing disability costs, measuring program performance, developing health and performance indicators, measuring supplier performance in disability management, renewing health and wellness programs, and reviewing disability management processes for Canadian organizations.
• Talent et culture (Talent and culture) Advisory expertise covering employee experience, talent management, organizational effectiveness, and performance through networking (maillage), offered to client organizations across Canada.
• Assurance collective (Group insurance) Advisory expertise covering insurer selection and negotiation, flexible group insurance plan design, cost control for group insurance and drug insurance, absenteeism cost control, plan positioning evaluation, accounting basis evaluation for financial statements, and disability prevention for Canadian employers.
• Rémunération (Compensation) Advisory expertise covering total compensation understanding, salary review governance, market positioning evaluation, incentive plan implementation, job evaluation exercises, and pay equity compliance, for organizations across Canada.
• Retraite et épargne (Retirement and savings) Advisory expertise covering pension committee training and support, pension plan valuation on accounting basis, defined benefit plan risk management, pension plan implementation, and actuarial evaluation with financing strategy for Canadian organizations.
• Administration des régimes de retraite (Pension plan administration) Administration services covering pension benefit administration and technological solutions for pension plan management, for organizations across Canada.
• Gestion d'actifs (Asset management) Advisory expertise covering education on asset categories and available products, evaluating and replacing investment managers, and reviewing investment policies for Canadian institutional clients.
• Communication Advisory expertise covering communication of working conditions, total compensation communication, employer brand design, new program deployment, communication strategy development, and change management strategy for organizations across Canada.
• Innovation et solutions logicielles (Innovation and software solutions) Provides technology solutions for managing pension plans, supporting both administrative and management needs of Canadian pension plans.
• Enquête sur les augmentations salariales (Annual salary increase survey) Annual survey conducted by Normandin Beaudry, currently in its 16th edition for 2027 data, gathering salary increase projections from Canadian organizations as proprietary compensation intelligence.

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Partnerships

One partnership is on record.

• MBWL InternationalcoreStrategic or Co-development Partner · 1 January 2023Normandin Beaudry became an equal shareholder in MBWL International, expanding its international reach and capabilities. This partnership enables the firm to serve clients with global operations and enhances its international expertise in total compensation consulting.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Mercer (Marsh & McLennan): Global consulting leader in health, wealth, and career advisory with deep Canadian presence. Directly comparable to Normandin Beaudry across compensation, benefits, retirement, and talent consulting, but operates at significantly greater scale and as part of a broader consulting portfolio.
• Willis Towers Watson (WTW): Global advisory firm with a strong Canadian actuarial and total rewards practice. Competes head-to-head with Normandin Beaudry in group insurance, retirement, and compensation consulting, with materially larger data assets and technology investment.
• Aon: Global professional services firm offering health, wealth, and talent consulting with significant Canadian operations. Overlaps directly with Normandin Beaudry in compensation benchmarking, retirement plan advisory, and group benefits consulting.
• LifeWorks (now TELUS Health): Canadian-headquartered employee benefits and total wellbeing provider. Overlaps with Normandin Beaudry in group benefits consulting, health, disability, and absence management advisory, with significantly larger technology-enabled service offerings.
• Sun Life Financial (Group Benefits & Retirement): Major Canadian insurer and group benefits/retirement plan provider. Overlaps with Normandin Beaudry in group insurance advisory, pension plan design, and asset management consulting, though typically serves clients with bundled product-and-advice offerings.
• KPMG Canada (People & Change): Big Four advisory firm with a Canadian HR transformation, total rewards, and actuarial practice. Comparable to Normandin Beaudry in compensation, pension, and organizational consulting, with broader technology and international reach.
• Deloitte Canada (Human Capital): Big Four advisory firm with a Canadian human capital practice covering total rewards, talent, and retirement. Competes with Normandin Beaudry for large-enterprise mandates and benefits from global scale, proprietary benchmarking, and tech-enabled service delivery.

Direct peers

• Eckler Ltd. Canadian actuarial and consulting firm specializing in pension, benefits, and investment consulting. Highly comparable to Normandin Beaudry in scale and Canadian focus, with strong Quebec roots and a similar boutique-specialist service model.
• Buck Global (Conduent): Consulting firm focused on actuarial, retirement, and people analytics. Direct competitor in compensation, benefits, and pension advisory, with a comparable boutique-consulting approach.
• Koskie Minsky LLP: Canadian law firm with a leading practice in pay equity, pension, and employment law. Comparable to Normandin Beaudry in serving Quebec and Canadian public/parapublic clients on compensation and retirement matters, and a natural adjacent competitor for compliance work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Normandin Beaudry