[maxb]

Does anyone else feel that they made a huge mistake by going the accounting/CPA route? Out of college I thought I’d make more money then most of my peers in other majors and now a couple years later, I am seeing that I could have easily gone into an easier major and made just as good money, if not better. Why are CPAs so undervalued? There is supposedly a shortage of CPAs coming in the future according to the AICPA. Between the ridiculous hours expected of us in public accounting and the low pay, this all is starting to feel like one big mistake. I could have done marketing and have been just as happy.

[Recked]

it all comes down to input vs output.
I can't speak for you or where you work, but my worth and pay are directly related to what i can produce.
When you first start out your hourly rate isn't that great, and generally cost the firm money.
As you gain more experience and knowledge, your hourly rate increases, you start to bring in clients to the firm, the practice grows and your pay grows.
When I was fresh out of college I was pretty content doing the minimum amount of work, but at this point in my career I am looking to outperform last years numbers. The more I bill out, the more I can expect to get paid.

So you have 2 options. Either you're not producing enough, or your current boss does not recognize your worth.
Figure out which of the 2 options it is, and proceed accordingly.
If you work hard I would imagine you should be close to 6 figures by 5 years in. And partners in larger firms average 400k-ish.
Don't wait for it to be given to you, go out and take it, earn it, and expect to be compensated.

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)

[maxb]

SM at Big 4 start at around 150k. For the amount of time they have spent to get there and the hours they work now as SM that is a joke in my opinion. There are much better career options that don't require the hours or the education requirements. With a masters and a CPA (which most people have now) I think CPAs are getting screwed. UNDERVALUED! (Besides partners)

[Anonymous]

I went back to school after almost 10 years, after earning a BS degree in science. I ended up earning another BS degree in Accounting. It cost me under $10,000, and I was quite happy about that decision. But, as a cruncher of AP and AR (mostly), until I have the CPA, I won't be able to do much more than that. Getting my experience hours is something I haven't even really looked into yet. At age 41, I am too old to start in Big 4. I've applied to public accounting firms but they don't want me. I'll have to get the hours in private, I'm guessing. IF I even get that far.
My first hurdle will be passing even one section of these horrific exams….my work schedule doesn't allow for much studying nowadays. I wish I'd done Accounting as my first and only degree. By now I'm sure I'd already be a CPA and would have nothing to worry about. But….such is not the case, and I have to live with that. Life is all about finding what works for us.

[smoothiezguy]

Move over into private accounting. Sure, the salary ceiling isn't as high, but pay rate/work load ratio is much better than in public.

Or, if you're feeling like accounting isn't for you – why not pursue another career? It's never too late…

BEC - 83 x1
FAR - 87 x1
AUD - 71 | 82 x2
REG - 93 x1

I'm Done!!!

CMA - 430
BEC - 83
FAR - ?
AUD -
REG -

[Anonymous]

crazyleon, I am in a situation similar to you. Where are you located? I was trying to find a way to send you a private message.

Regards,
Eric

[Author]

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