Thats a very good question. I know a CPA making 250-300K, but they are a CFO of a new york based company. I think most CPAs in NYC make anywhere from 80 to 200K a year. Experience and industry play a larger role in salary than the CPA certification in my opinion.
I have read a lot of references to salaries on here, and frankly, to be totally blunt, the salary levels seem pretty discouraging….
$45k per year? $60k per year?
If these are my prospects, I think I need to change my career plans. I am hoping for something more along the lines of $175k+, but maybe I am just deluding myself? Help! Thanks!!
Seriously – I think I might need to think about my career choice!
I have always had this general respect for the CPA profession.
The process itself always seemed rigorous …the designation, prestigious… and the professional/career prospects, respectable. I mean, there are only so many professions where you become a recognized, licensed professional, with initials you can sign after your name.
I think that controllers & CFO's make that much for sure. It also depends on where you live. 175K+ seems pretty high for a CPA though, especially for one in the first 5-7 years of their career. The draw to being a CPA is that you can easily find a job for a decent amount of pay that's livable. Unlike my friends who are marketing majors who really cant find jobs easily and when they do, they're making 35-40k.
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I honestly don't know how people are making it, day to day, on these salaries.
Maybe I am nuts… but when I think of salaries, I think of $200k as a sort of starting point of: can have a decent size home, afford kids, and my wife can (hopefully) stay at home.
IMO the salary is low for the work done, in general. And by work done I mean the stress, deadlines, hours, education and $$ for college, and the CPA exam time and money.
@Singularity77 Ummm… if CPAs made $200,000 starting off, everyone would do it. You have to work and prove yourself to be making 1/5 of a million dollars a year. Also, I grew up with my parents making 1/3 of that salary combined and we took mannnyy vacations, house paid off, basically had whatever I wanted… so that is definitely NOT a starting point!
go be a lawyer or doctor. the only way you make 175k+ is if you are partner, some top management in corp (which isn't just acct anymore), or you have your own business paying that much to yourself..
nobody is gonna pay you 100k+ for being able to display #'s.
and I have no idea where you get the impression 200K is “starting point” in any honest profession. you mean the end point right?
I am coming at this from a slightly different perspective than perhaps some of the candidates here. I am in my 30s, and unfortunately, I didn't pursue the CPA right out of college.
As far as that $200k figure, not that I consider that a starting salary – just a “starting point” for the type of lifestyle I envision, I guess – something to aspire to, for sure.
But salary is relative to where you live. $175k seems like a lot of money in New York, but after paying out half in taxes, paying about 25-40k in rent, kids, you're basically broke. Your lifestyle matters also. I am 28, when I was in school, I thought you could live off of 45k probably, that's a young kid being delusional! I've learned the hard way unfortunately.
Singularity: High 100s (CA dollars) are possible later on in your career (some sooner than others) but I think most people get there after transitioning into private and get to that controller level with around 10 years of experience or so. Other options, of course, are consulting (more management consulting than Big 4 is what I mean) which will pay you similar but again, they usually want Big4/CPA plus 10 years of corporate background. If you are thinking high 100's just for having a CPA with not much experience, you seriously need to consider getting some plastic surgery and becoming a CPA/lap dancer (although I wouldn't put that on a card)
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