[Singularity77]

Just curious … if this is all worth it!

What is the highest CPA’s salary that you know of?

What does the highest-earning CPA you know of earn, per year?

I am not talking about a CPA that ends up doing something other than CPA career stuff…

Thanks!

[tomq04]

Half of you need to take a wander over to mrmoneymustache.com for a good old fashion face punching. This is the only blog i've read in an entirety, and continue to participate with in the forums.

Baddass yet Frugal living habits.

REG- (1) 76
FAR- (2) 64, (5)74, (7)83 (Over achiever!)
AUD- (3) 70, (4) 75
BEC- (6) 75

[John Tucker]

There's no such thing as an “average CPA” nor an “average CPA salary” because, CPAs work in a variety of roles within the business, IT, sales, accounting and finance professions. Some CPAs work for large corporations (Big 4) or medium corporations in public accounting, some work for large corporations in private accounting departments, some work for the government, some own their own small-medium sized firms, some work (like I do) in commercial finance roles, some don't work in a direct accounting or finance position at all and instead might run other types of start-up organizations in IT, Manufacturing, etc. Some CPAs do personal financial planning only. Some CPAs do B2B sales only. You see the issue here in trying to gauge what the “average CPA” makes? CPAs are free to CREATE their own careers based on the vast amount of knowledge and network access that they have at their disposal and as a result, you need to be seeking to do the same.

The question you should be asking is, what are your goals and how much does it take in income to achieve those goals? That's the question, once you answer that then you can look to determine how the Accounting and Finance profession (or another profession) can help you create the life for yourself that you are seeking and then CREATE A STRATEGIC AND DETAILED PLAN to achieve those goals.

You don't need $200,000 a year to live a successful, comfortable, upper middle class lifestyle if you aren't spending like crazy with a very high cost of living. There are individuals who make $200,000 a year and spend $300,000 a year lol.

To me, “success” is where I am right now and that's a solid upper middle class lifestyle in a great cost of living area, paying off any student loans and other long term loans on time, paying off short term debts on time, and hooking up with women who also are near or not that far from my level so together we become even stronger. That to me is success, anything “over that” means I am “thriving”.

* State of MA CPA Exam Candidate
- BEC: Sunday, August 24th
- FAR: Saturday, November 29th
- AUD: TBA for February 2015
- REG: TBA for May 2015

[golfball7773]

^^ Slow Clap

AUD - NINJA in Training
BEC - 86
FAR - NINJA in Training
REG - NINJA in Training

AUD - 71, 73

BEC - 74, 86

REG - 77*

FAR - 57

*expired

(I have been trying to become a CPA since 2013). only one test down.......

FAR: 63, 55, 62
REG: 65, 77*
AUD: Fail, 64, 71
BEC: 72, 74, 81

*expired

[Singularity77]

I am just now catching up with the newest posts in this thread.

Seems like quite a few people thought I was just trying to start controversy or say something funny to “troll” or get people going… but honestly, that was not my intention at all!

In all honesty, I really do think that, for a single earner family (husband, wife, couple of kids), where said earner is, say, in his early 40s or so, $150k is probably the “getting by” annual salary threshold. At least in the NJ area.

Sure, you might be able to get by on a little less than that, but it would definitely be a real struggle.

I am also talking about a situation where there is no other “help” – no secret money from the parents, no other sources of actual income.

When I think of a career that gets me to $80k or $100k.. or even $120k, I think: failure. Bankruptcy. Sleepless nights. Cringing every ATM withdrawal. Gaming the timing on bills…. etc. etc.

If I wanted to earn that type of salary, I should have just been a teacher, or a cop, or a department of public works laborer, something like that, you know?

That being said, I am definitely encouraged to hear about prospects in the upper $100k range and beyond, for sure. That is what I was hoping to hear 🙂

[Singularity77]

There are regular patrolman cops in my town that make well into the $120k range. Guys in their 40s, some with just associate degrees, zero credentials. I did something wrong LOL!

[dpad124]

You can still quit and become a patrol man.

BEC Oct2014 - 85
AUD Jan2015 - ??
REG Feb2015 - ??
FAR May2015 - ??

[lleon]

lmaooo @ latrell sprewell comment!! good stuff lol

this thread is too funny. For me, barely getting by can be like 30k a year lol (and yes, i have a house, wife, kids etc etc) but I guess it's all about perception and what you're used to.

To answer the original question, where I'm currently at, small cpa office, 2 CPA's, 2 part timers, firm brings in bout 250-300k in revenue by my estimation (he keeps sensitive numbers close to his vest lol) I don't know much bout running a firm (yet), but he has to be clearing well north of 100k IMO, right? Biggest expenses are likely the other CPA, software & rent. Not sure, but you can definitely have a long successful career as a CPA, but as far as starting point… Rome wasn't built in a day lol

Licensed in Arizona

[OneStep]

I can understand Singularity77, because me and my husband live on 130k gross (both of us work), and feel like that's just not enough. We dont have children, no mortgage yet, just paid off a car we bought last year. The COL in North AL is not very high but not very low either, we are frugal, and try to save some money every month (happens maybe every other month), and we have had months when we had to time our bills to make sure they hit the bank at the right time after we get paid.

If we lived up north and had kids and mortgage, i would say also $150k would be enough just to get by.

I used to get by on a $10,800 a year when I was college (now I dont even know how I did it). i learned to live frugal. Back then I thought 70k was a lot of money, but now with daily commute, monthly bills and no help from anyone else, i feel like that's not enough and will be hard to get by.

This thread made me think about how underpaid CPAs are. We go through college, get Master's degree, study for professional certificate just like lawyers. I dont know if I can compare doctors title to CPA though. But our salaries are usually way lower than those for lawyers. Why is that? Do you think it's because the market is overpopulated with accountants?

FAR - Apr 2013 - PASSED
REG - Oct 2013 - PASSED
AUD - Apr 2014 - PASSED
BEC - May 2014 - PASSED

[Skynet]

Bitcoins???

AUD - 90
BEC - 78
FAR - 84
REG - 87

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - In Progress
Phase III : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase IV : Form the new Charlie's Angels with Megan Fox, Scarlett Johansson, & Gal Gadot
Phase V : TBD

BEC : 78
REG : 87
FAR : 84
AUD : 90

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - Initiated
Phase III : Bring back 8-Tracks
Phase IV : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase V : TBA

[GuitarSalad]

@onestep. North AL? As in Alabama? Feel free to correct me, but my fiance and I make roughly 90k which is enough to live comfortably in the Phoenix, AZ area which surely has a higher cost of living than most of Alabama. Unless I misread where you live, I'm amazed at someone having a hard time getting by on $130k.

BEC 7/12/13 - 84
AUD 8/31/13 - 86
REG 4/11/14 - 84
FAR 5/30/14 - 88

Licensed AZ CPA - 10/2014

[OneStep]

@guitarsalad, yes Alabama. I wrote north AL because here the COL is a little bit higher than south AL. I didnt say we have hard time getting by but yes we do have to watch our expenses and make sure we have money in the bank account when bills are paid.

Well that s great that you get by with 90K, this just motivates me to start saving more. But like I said part of that money last year was used to buy and pay off a car, and put some money in savings.

But i definitely wish we have a higher pay when we have children and a mortgage.

FAR - Apr 2013 - PASSED
REG - Oct 2013 - PASSED
AUD - Apr 2014 - PASSED
BEC - May 2014 - PASSED

[Anonymous]

wow. just wow.

Being a CPA in and of itself is generally not a high salary gig. Starting out in public, which many people do, is not a ticket to wealth. You're going to have to take the long view in this career field. A few (intense) years in public and then a bit of luck and determination “may” land you with a high salary in a private company. You will need influential connections to get the wage you are imagining.

Beginning salaries vary around the country depending on the cost of living. Anywhere from $45K – $65K, as I understand. If money is the primary reason you are doing this, I would quit now. The CPA exam is difficult, stressful and will likely cost you at least a year of time and several thousand dollars total. (review courses, testing fees, retakes?, possible lost wages at work, etc.)

You might consider putting that few thousand and year of time towards a more lucrative degree such as computer science or a medical degree of sorts (radiologists and certain nursing degrees pay quite a bit.) Or maybe go straight to working for an investment/brokerage firm? You might also consider moving to a less expensive area of the country if lifestyle is important for you. I used to live on the east coast and I understand how damn expensive it is. I always felt like I was working twice as hard for half as much. My husband and I together pull in ~$90K and live quite comfortably in the Northwest. We are able to do this despite spending more than average for a home in a desirable area of town and contributing 12% to our retirement accounts.

Best of luck, but if salary is your #1 objective, I would reconsider your position.

[Guti]

I think most Accountants who are not CPAs are underpaid. Out of all the Business careers, Accounting is the hardest, and yet there are a lot of Police officers,prarameics, and Firefighters who make from 50K to 65K, which is also close to what Accountants who are not CPAs make.

FAR-84
AUD-
REG-
BEC-

[Anonymous]

This whole thread seems crazy to me. $130k gross and paycheck to paycheck? Unless you live in NYC, you're doing something very wrong.

I live very comfortably off 40k at the moment in an average COL area, and I don't live super frugally either. I don't see where people are spending all this money for basic needs.

And people are talking about teachers and laborers making 100k+ in this thread… what are you guys smoking?

[Anonymous]

My sister is a rural postal carrier near Montgomery AL and makes about $65k to drive around one big loop five days a week. No degree or certification needed.

[Author]

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