I tell my friends that the CPA will guarantee I'll never make below a certain salary in accounting. My quesiton is what do you think that minimum is for the rest of my life? 60k? 55k?
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A 75
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F 85
A 75
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F 85
CPA Exam Review Forum » General CPA Exam Forum » Ethics Exam, CPA Certificates, Work Experience & Licensure
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kandisjoy
offlineMemberThere isn't a guarantee... There are plenty of unemployed and underemployed CPAs.
Another thing... If a first year accountant at a CPA firm gets his CPA, he's probably going to be making the same amount that he did before... Maybe he'll get a bonus; it depends on the firm. But I've seen starting salaries at CPA firms to be anywhere from 32k to 55k. Depends on the company, the location, etc.
FAR: 71, 77
BEC: 70, 82
AUD: 62, 78
REG: 71, 68, 85
CA Licensed 11/2011Posted 5 months ago # -
See Pee A
offlineMemberCPA's generally earn fairly well. In and around nearly any metro area, in public accounting, most first year associates start off at least in the high 40s salary not including bonus/other comp. In Atlanta, total 1st yr comp at Big 4 is about 58k, perhaps 59-60k at regional or top 10 firms. Higher in larger cities.
CPA's in private (or what we call "industry") which is a financial analyst/corporate accountant typically make much less, but sometimes can exceed the entry level salary depending on the company. For example, Kimberly Clark financial analyst starting salary is 57k, while Turner Broadcasting staff accountant starting salary is 44k (again, in the Atlanta area). Just to give you an idea, anyway. Hope this helps.
BEC 86 (08/30/11)
FAR 84 (10/13/11)
REG 88 (11/08/11)
AUD 86 (11/29/11)
Exam prep - Becker self-studyPosted 5 months ago # -
David1985
offlineMemberMost of it depends on your experience. I would not work for less than 90-96k. With 4-5 yrs of experience. You won't see that money in big 4 but in private cap you can make 120K + if you know what you are doing.
REG-10/14/11 - 76
AUD-10/27/11 - 83
FAR-11/21/11 - 87
BEC-11/30/11 - 80Posted 5 months ago # -
Leviticus
offlineMemberI just interviewed for an entry level junior at a small firm, and they offered me a position for tax season with potential for full employment...
Starting salary is 40K! Now I know this is peanuts? But its impossible to get a Public Accounting interview these days, never mind an actual job!
√ FAR - 91 (08/25/11)
√ BEC - 79 (04/12/11)
√ REG - 89 (07/18/11)
√ AUD - 95 (10/18/11)Posted 5 months ago # -
keeptrying
offlineMember@mini & david... once again I completely agree with your assessment...and in Houston with all the oil/gas companies you can expect that with a CPA and some good experience 100k isn't unreasonable after 4-5 years.
REG-80, 77, 77
BEC-67, 68, 71, 67, 71, 74, 71, 74, 72, 77
FAR- 72, 65,67, 53, 75 (truth be known the 53 was with 4 hours of studying)
AUD-58, 62, 72, 74, 74, 75
took 5 years but I'm DONE!!!!!!!!!!!!!!!Posted 5 months ago # -
David1985
offlineMember@keeptrying,
Houston pay is crazy!:) it's booming all the time. I worked in H for 2-3 yrs and made stupid money.
@ Studyhard if you study hard you'll make money:)
What most people do not realize is that when you move up your pay does not change by 5-10%. it might jump by 50-60%. May be even double.
REG-10/14/11 - 76
AUD-10/27/11 - 83
FAR-11/21/11 - 87
BEC-11/30/11 - 80Posted 5 months ago # -
Jeff - another71.com
offlineadminA big hang up from your current employer to the next (where you get PAID) is the % increase from what you make now to what you want to make there.
Under no circumstances do you tell them what you currently make. Happened to a friend of mine and they paid for it. It's poker for sure.
Posted 5 months ago # -
CannotPassAgain
offlineMember@jeff could you elaborate? are you saying when you're interviewing for a new job don't disclose your salary history? how do you go about doing this in a polite manner? "i respectfully wish to keep that information to myself"?
When you say, "it's poker for sure", are you saying we can bluff and make up a salary in hopes of the prospective employer matching it?
FAR - Feb 2012
AUD - May 2012
REG - TBD 2012
BEC - TBD 2012
Becker 2011+2012; NINJA 2011 review notesPosted 5 months ago # -
Jeff - another71.com
offlineadminYou just simply say "I'm looking for a fair offer". I've never had an employer ask me my salary history. My friend wishes he would have said "I can't tell you that..I won't have any cards to play" and let the Awkward smiles fade .. And it will be awkward but it will fade and then move on.
My friend ended up being the #1 candidate, corporate bureaucracy was no match for reality and he said no to their offer.
Posted 5 months ago # -
Jeff - another71.com
offlineadminBottom Line. If you tell a prospective employer a number...you will be married to it. Let THEM state the numbers ... Not you.
Posted 5 months ago # -
nnenna
offlineMemberjeff is absolutely correct.....................we were taught this in business school................i have practised this numerous times and is doable....................only once did i lower my figures out of desperation and the employer told me never do that as he felt sorry for moi................so let them go first with the numbers
Posted 5 months ago # -
sacredtheory
offlineMemberReality...the reality is these figures are skewed due to location and the OP better take them with a grain of salt. I chuckle to myself every time one of these threads pops up, and the numbers thrown out there typically range from $35k - 100+. Is 100k feasible? Sure, in a big city...right time, right place. It's all relative, cost of living will be significantly higher too. In a rural setting, entry level will net you 35-45k, in 5 years...60-70k.
BEC: Passed
AUD: Passed
REG: 05/12
FAR: 08/12
JaredPosted 5 months ago # -
75
offlineMemberhttp://www.rhi.com/SalaryGuides
100k is feasible if you're working as a senior financial analyst for a big company or a controller for a small company, for instance.
35k is too low. This is AP/AR salary.
Finally a CPA :)Posted 5 months ago # -
kandisjoy
offlineMemberIt SHOULD be AP/AR salary... but I'm from a small town with very little job opportunity, and I was offered 35k from the first firm that I worked for. Granted, I only worked there for 3 months until I got an offer from a bigger, better firm that offered me 48k. I was a fresh college grad at the time. Also, I graduated right after the economy collapsed so... bad timing.
FAR: 71, 77
BEC: 70, 82
AUD: 62, 78
REG: 71, 68, 85
CA Licensed 11/2011Posted 5 months ago # -
kandisjoy
offlineMemberNah it's a small closely held corp. They are definitely overpaid, especially since they don't work 80% of the time that they are here. No accounting education. They really don't understand accounting; they just go through the motions and if anything is out of balance, they call for help. It's a little frustrating but I am comforted by the fact that they will both be retiring in a couple years.
FAR: 71, 77
BEC: 70, 82
AUD: 62, 78
REG: 71, 68, 85
CA Licensed 11/2011Posted 5 months ago # -
jelly
offlineMemberAlso remember what you can really cost, cash-wise, as an employee to a business. I'm in the tri-state Northeast, where it's pricey, but this what I budget-approximate for new hires for 1 year, for a small place (less than 10 people):
$40,000 = Salary
4,000 = approx cost of employer's federal FICA, and other state taxes like Unemployment Insurance, commuter taxes
7,500 = if all healthcare premiums are covered for a single (this is a bare-bones policy)
200 = Workers Comp
100 = short-term and long-term disability coverages, if state required, and can vary significantly
300 = business & professional liability insurances
500 = estimate of future liability for unemployment claims, state's share of interest cost to FUTASo you can cost from at least $45k to at least $52k to an employer on a $40k salary.
Couldn't pass again!Posted 5 months ago # -
See Pee A
offlineMember@Kandis: These AP managers may make 50k now, but they will be making 60k in 12 years. You will move much more quickly in public. While I interned at Big 4 I had the (dis)pleasure of auditing salary expense at a client and those people's salaries blew my mind. AP accountant made 70k! wtf?! Then again she had to be at least in her mid-30s and I doubt she had a CPA. Companies have to offer strong comp otherwise the spread between public and private would narrow and it would be even more difficult for them to get decent talent.
BEC 86 (08/30/11)
FAR 84 (10/13/11)
REG 88 (11/08/11)
AUD 86 (11/29/11)
Exam prep - Becker self-studyPosted 5 months ago # -
75
offlineMember@See Pee A
At the previous company there was an AR "manager" in her early 30s with associates degree in business and close to 60k salary.
She's been doing the same job for 10 years and I doubt it, she'd ever find another job that pays that well. She knew very little accounting and was a horrendous manager, especially when it came to communications within the department.
I don't see progress for such people at all.
Finally a CPA :)Posted 5 months ago # -
kandisjoy
offlineMember@See Pee A - I wasn't talking about managers. These are just accounting clerks. They are at the top of their pay scales (we have a public pay scale document at my company). These accountants don't even have associate degrees. They have a manager and are never going to move up - they are all going to retire within 10 years. All three of them make around $50k.
I started at around $50k, but as a staff accountant, I have a different boss than them (my boss is the Controller, their boss is the accounting operations manager who also doesn't have a degree in accounting.. she does have a general business degree though). I am okay with making the same amount as them for now... just because I know that I'm starting where they had to work 20 years to get. My boss has made it clear to me that I am on a totally different career path that is unrelated to accounting operations. He has mentioned that he is going to have me move from Fed Reserve/FDIC reporting to being more involved in SEC reporting.
As for pay, I know I could probably make more in public eventually, if I survived long enough. However I'd rather make $20k less in industry with better hours and a better work environment. I was very depressed when I worked in public, and I hated travel and politics. I could go on and on about why I hate public accounting. I know some people thrive in that kind of environment, and more power to 'em... but I'll stay in my "cushy" job, thanks! Well, it's not really a cushy job... but it's a hell of a lot less stressful than public was.
Right now I'm working in an office that is 100% decorated for Christmas. I even has a 6 foot Christmas tree next to my office that my boss picked up and our department decorated, and it has our secret Santa presents under it. Tomorrow morning the company is throwing a giant breakfast for all of the employees, in which the officers serve us. We can also make requests for certain items that we like to eat/drink, like apple juice and quiche. We will have a drawing for prizes, singing, and an ornament exchange... I don't know about other CPA firms, but the two that I worked at would never have treated me this well.
FAR: 71, 77
BEC: 70, 82
AUD: 62, 78
REG: 71, 68, 85
CA Licensed 11/2011Posted 5 months ago # -
akb9874
offlineMemberI guess Houston is just a different...in a good way. I work in industry making good money with no CPA and only 4 1/2 years of experience. While my friend has been in public accounting for 5 1/2 yrs acting as a supervisor for 2 1/2 years, with a CPA making significantly less than me. We use to work together and she is amazing at her job but I just don't see public accounting firms beating out the large corporations. I say if you have your CPA and have at least 2 years of experience you should be making no less than $60k a year.
*TEXAS*
BEC - passed
AUD - passed
REG - passed
FAR - ???Posted 5 months ago #
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