[Katie]

What is a standard amount of raise I should be looking for after passing the exam? I work in industry, passed my last exam about 5 months ago, and am in the middle of salary negotiations and am looking for a starting point that is realistic, yet still rewarding after the grueling time I had with the exam. Any input/advice would be appreciated!

[Recked]

I've been at my firm for 15 years (sole prop practice) and am expected a decent equity interest or I will be exploring other options.
I guess it all depends on how much they can charge for you before and after the CPA exam, and how much you produce.
How many years experience do you have? How many billable hours a year? What is your billable hourly rate before the CPA license, and what is it now that you are licensed?

Memento Mori - Kingston NY CPA & EA (SUNY Albany 2002)

FAR-93 11/9/17 (10wks, 250 hrs, Roger 1800+ MCQs, Gleim TB 600+MCQs, SIMs)
AUD-88 12/7/17 (3 wks, 85 hrs, Roger 1000 MCQs no SIMs hail mary)
REG-96 1/18/18 (6 wks, 110 hrs, 1400 MCQs, no SIMs)
BEC-91 2/16/18 (4wks, 90 hrs, 1240 MCQs)

[tygolfer]

Not sure what is standard, but I received a 15% pay increase after I passed my exam with a promotion coming in the next 6 months. I work for a fortune 500 company as a Staff Accountant, and have 2.5 years of experience.

AUD - 92
BEC - 84
FAR - 77
REG - 89

MDS CPA Review and Ninja MCQ for final review 2 weeks prior to each exam

 

[TommyTheCat]

Recked just curious how you obtain equity interest in a sole proprietorship? Or are you expecting to form a partnership with the current sole proprietor in the near future and be a minority interest partner?

AUD - 85
BEC - 89
FAR - 91
REG - 97

[Recked]

The verbal understanding is that I will be made “partner” (thereby forming a partnership) after I am licensed.
The only other way into equity here would have been to change the name to something that did not include CPA in the name.
For example – “Boss & Recked Tax Assoc”
NYS does not allow non CPAs to have equity interest in a firm that uses CPA or Certified Public Accountant in the name.

Boss has been dodgy on the details regarding %, other than to tell me it would not be 50/50, and there is not a buy in.
I was substantially underpaid up until 2 years ago when I started squeezing for more money.
Still underpaid currently so if equity interest doesn't correct the issue then I'm onto greener pastures.
Not sure what 15/16 years of sweat equity and being a “team player” yields, but we'll find out soon enough.

Memento Mori - Kingston NY CPA & EA (SUNY Albany 2002)

FAR-93 11/9/17 (10wks, 250 hrs, Roger 1800+ MCQs, Gleim TB 600+MCQs, SIMs)
AUD-88 12/7/17 (3 wks, 85 hrs, Roger 1000 MCQs no SIMs hail mary)
REG-96 1/18/18 (6 wks, 110 hrs, 1400 MCQs, no SIMs)
BEC-91 2/16/18 (4wks, 90 hrs, 1240 MCQs)

[Author]

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