[ScarletKnightCPA]

Given the recent chatter on the forum regarding salary, what do you guys thing about compensation for CPAs. Are CPAs compensated well given the education requirements? Or do you guys feel that CPAs are underpaid?

Far: 76 (Wiley Test Bank)
Aud: 77 (Wiley Test Bank)
Reg: 61, 76 (Wiley book, Wiley Test Bank)
Bec: 86 (Wiley Test Bank)

MBA in progress

[Anonymous]

Here is some data from Strategic Finance Magazine:

https://www.imanet.org/PDFs/Public/SF/2014_06/06_2014_salary_survey_REVISED.pdf

[Anonymous]

I drive a Benz, Bimmer, and Skyline. Shall I go on?

[005]

pics or it didn't happen

BEC - ✔
REG - ✔
AUD - ✔
FAR - 11/29/14

CPAExcel, Ninja MCQs, and a sh*t ton of coffee

[Anonymous]

Can I post a pic of you postin in the wrong thread? Or did that not happen?

[005]

You can do whatever you want buddy

BEC - ✔
REG - ✔
AUD - ✔
FAR - 11/29/14

CPAExcel, Ninja MCQs, and a sh*t ton of coffee

[IronIan]

Don't feed the troll!

I think CPAs are well paid for the most part.

[Anonymous]

I'm seriously underpaid!

[fuzyfro89]

Generally, yes, considering the job security and compensation in comparison to most other fields.

I would say finance, consulting, engineers, and medical professionals tend to have comparable or better pay than accountants.

There is an extraordinary range in compensation though between fields within accounting (or things you can do with an accounting background).

[krokofilen]

I know this thread is about U.S. levels, but just to give you an idea of the salary levels after a few years if you work on the other side of the pond, in Europe.

I am in one of the € countries (so not UK), and function as an experienced Manager. My base salary is $95 K, but on top of that you should $8 K in “13th salary” payment (vacation compensation) and another $8 K in bonus, so in total say roughly $110 K a year. I am taxed about 25%, which for various reasons is a little lower than normal here, so $83 K net a year. I have 6 weeks of vacation plus a few days around Christmas and other national holidays. Could get a company car, but that would take a bite off my salary so not doing that at this point. My health insurance is $125 a month. Pension benefits are paid by my employer in full, and are on an OK level (nothing super fancy but better than most other employers here). They are also paying for my CPA, and will promote me to Senior Manager when if I make it (not the only criteria though, but one of them). On top of this, a get around 40 hours of training every year. I share room with another Manager, and the office as well as my clients are all located downtown. I work 40 hour weeks most of the time, but stretch it to 60 hours now that I am studying and for 1,5 months during busy season.

I think these are pretty good working conditions and I am fairly happy with the level of compensation. I hope it will increase though. It will never be the same level of compensation over here as I think it is in the U.S., but I will make alright as a Senior Manager or Partner here, work under very flexible conditions (except during a few months of busy season), and will not have to sit in a cubicle.

Big 4 Audit Manager from Europe here to pass the CPA in the U.S. of A in 2014! Niiice!

AUD - 95 / Jul 15 / 130h over 4 weeks
FAR - 86 / Aug 14 / 240h over 4 weeks
(11 week break)

REG - 81 / Nov 14 / 200h over 4 weeks
BEC - 87 / Nov 17 / 30 h over 2.5 days

[GSU-CPA]

I think not and this is the reason why.

My friends majored in Computer Science and got a job making $60 000 working 40-50 hrs a week right after college. Didnt have to get second degree and/or masters… didnt have to pass one the hardest exames in the world (CPA)…

As CPA's we have to get the 150 credit hours meaning we have to atleast get two degrees. We then have to pass a CPA just to be able to get 50-55k a year. Not to mention during busy season we are working 70-80 hrs which they never have to do

REG-77
BEC -Waiting on score May 5th
AUD - May 30
FAR - Q3 depending on if i pass above two in Q2

[Anonymous]

GSU-

I thought the same for a while too, but I've noticed there is a weird market out there for computers people. Some end up getting those amazing jobs at Google (and similar) that have these crazy perks and outlandish pay. The rest get stuck working the help desk at accounting firms. I'm joking a bit, but there is some truth to it. We choose to compare ourselves to the cream of the crop. We don't really hear much about the rest.

Fact of the matter is it sucks being a CPA for the first 5 or 10 years, but it really pays off down the road. I'm at a smaller firm and ALL the partners have shore homes in NJ. Insert whatever joke you want, but you can't find one in a decent town for under $600k- and that's a tear down. Most homes in the decent towns are well over $1M.

I don't know many computer guys in my area that have shore properties, but I know plenty of accountants that do. Most of them have one or two German cars in the driveway as well.

[Skynet]

I was told that once becoming a cpa, I was sure to make enough money to buy a gold nugget. Then after buying that gold nugget, I can then trade it in for a shiny new nickel.

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

[samdiegoCPA]

I am severely underpaid, but I won't have my license til next June… where if I don't get a SIGNIFICANT raise, I can't stay here. I don't think companies generally give out SIGNIFICANT raises, so I'm scared.

AUD: 84
REG: 84
BEC: 79
FAR: 83

[fuzyfro89]

Fwiw, employers have an incentive to minimize salaries (while getting the talent they need). Employees are not volunteers, so remember that your incentive is a little different from theirs.

Then, don't take things personally. Getting hired/fired/raise/bonus/etc is all a business decision. It is their decision to pay what you are worth to them, so if you think you are worth more, find someone else who values you more and go there.

Likely, you'll come across opportunities a few time in your career to do this, so think medium term in every job you are in (I.e. How does this affect my employability in the next 2-5 years). Planning beyond 5 years is not smart because local talent markets and business trends change faster than that. See where the skills of tomorrow are trending, and in your own field, see how you can make your skills more valuable.

There is incredible demand for certain types of skills in certain companies/locations, you just have to do your homework to find them and be ready to make the leap when necessary.

[krokofilen]

Guys, all I can say is have some patience. Stepping right into a CEO position after college is a dream that lots of college students have, but it remains a dream for most.

Big 4 Audit Manager from Europe here to pass the CPA in the U.S. of A in 2014! Niiice!

AUD - 95 / Jul 15 / 130h over 4 weeks
FAR - 86 / Aug 14 / 240h over 4 weeks
(11 week break)

REG - 81 / Nov 14 / 200h over 4 weeks
BEC - 87 / Nov 17 / 30 h over 2.5 days

[Author]

Replies