[Anonymous]

Hey everyone,

So i need some advice from people a little higher up in their career: I have about almost three years experience in accounting (between 3 companies, 1 was a job hop). I currently work for a large company in the private industry, and now that I have my CPA I am like totally confused as to how to go about moving up in my career. Yet, I am worried that I may be labeled a job hopper.

I currently make below the market rate for someone with my experience in my area, however, if I was to stay with my current company, I would most likely be able to move up to higher level positions by applying to different departments within the company. I also know that if I started applying for other jobs, I would probably be able to get a jump in pay, but I would most likely have to apply for staff level positions.

Does it look bad to make moves strictly for an increase in pay? Or should one focus increasing their level and responsibilities (promotional moves)?

TL;DR: John Doe is a Staff Accountant making 40k, but sees opportunity for 50k as a Staff Accountant at a different company, but could stay at company and in time eventually apply for Senior Accountant position, which would be better for John long term?

[Mamabear]

I personally do not like to see job hoppers when I look at resumes. When I hire I want someone that is going to stay for the long haul because we are a very low turnover department. The issue I have with switching around because of pay is that you will always be looking for the better opportunity and never fully committed to the job you are currently doing. It is great to have ambition and desire to get ahead, but I think the best way to do that is to become an expert at your job and show them you can do more. More money doesn't always = better job. If you like the company/people/boss and there is potential for advancement then I would stick it out, but if you aren't happy where you are at in general it won't hurt to try something else because you would have legitimate reasons for leaving to give to an interviewer than just money. Also, you need to consider that salary is not the only financial benefit. What is the bonus plan? What are the benefits? Will you eat that $10,000 increase in additional payments to your HSA to cover higher deductibles? You have to weigh everything and decide if it is a true $10K increase at all.

CPA Exam - Finally DONE (November 2014)
BEC (08/10/13) 80
AUD (08/24/13) 65 (11/13/13) 85
FAR (04/12/14) 81
REG (07/19/14) 69 (11/29/14) 87!!

[Anonymous]

@Mamabear Thanks for the advice. I do like the job, but my problem is strictly a financial one, the pay is just not enough to meet my financial needs. That's what has me stuck, I don't want to be perceived as a job hopper, but I feel like I'm just eating money, by not applying for a job more in line with my income requirements.

[Mamabear]

I can understand that. I received a $10K raise after I passed the CPA exam and my take home is approx $250 more each paycheck so $6,500 a year cash. It does go a ways so if that will make the difference between you paying your bills and not, then do what you need to do. Just keep in mind that is with the benefits and HSA contributions/premiums/deductibles staying the exact same. Don't forget to weigh those into your decision. Companies vary significantly when it comes to benefits.

CPA Exam - Finally DONE (November 2014)
BEC (08/10/13) 80
AUD (08/24/13) 65 (11/13/13) 85
FAR (04/12/14) 81
REG (07/19/14) 69 (11/29/14) 87!!

[jaredo155]

@ATG618 I was in your shoes a few years ago, and as Mamabear said there are a lot of factors to consider when making your choice. I went for the higher salary without a title increase, and it is a decision I now regret. However, I wouldn't blindly say it would be a bad choice for you. You have to look at your longer term goals, and think about where you want to be in 10 or 20 years. For instance I am salary wise ahead of most of my peers with the same title, but most people with my level of experience and a CPA, have higher titles. In the long run progression of title will payoff more, but if you need the extra money that extra time to progress may be worth it.

On a side note, it is important to note that the same title at a larger more recognizable organization shouldn't really be viewed as the same level.

AUD - 2/2013 - Passed!
BEC - 5/2013 - Passed!
FAR - 8/2013 - Passed!
REG - 11/2013 - Passed!
"Do or do not, there is no try." - Yoda

[logueco]

I'm in a similar boat and I've decided to try and jump to the position with better pay rather than staying and waiting it out at my current company for a promotion. It seems like the real thing for me, and this may be your situation as well, I have two options:

a) Stick it out and get promoted down the line at which point I can either continue on this career path at my current job or I can look to leave and get paid a lot more than what I would make if I left now before promotion

b) Leave now and make more money, but with the downside of potentially hurting my prospects in the future (at least compared to what they'd be if I stayed and got promoted)

I spoke to a lot of people about this because I was also worried about getting the “job hopper” title and also setting myself back in terms of time to get to the next level, but I figure I'll pass on the best advice I got:

“Think long term. If you are moving into a position with better pay, but that you're going to want to be leaving again in a year's time then you might start getting labeled a job hopper. This may or may not hurt your chances down the line, but there is some risk there. If you're moving into a position where there is potential to grow (ie be there for more than 1-2 years and/or get promoted) then it's a much safer decision. At the end of the day you have to look at your obligations though and if your current position isn't paying you enough to meet them, then you have to do what you have to do”

It was the last part that got me. Once I got my CPA I started getting offers that really exceeded what I'm currently making and because of my obligations it's too much not to take the leap. I've got an interview on Tuesday so fingers crossed I'll be jumping ship again, but I think it's what I have to do.

[Anonymous]

I was in a similar position, but with a decrease title-wise in order to get an increase pay-wise. My first accounting job paid peanuts (actually, peanuts would've probably come out to more money…), but was a little firm where I did everything, so was definitely “Staff Accountant” by title if not “Senior Accountant”, though there were no titles, so I was just me, no title at all. My boss started to be extremely difficult to work with, so I started looking at other opportunities, and ended up taking a job with the title “Accounting Clerk” for a 50% raise. My first accounting job didn't pay enough for me to live off of – I was living with relatives, but no prospect of getting my own place. With the Clerk job, I was able to buy a house and live OK – no “lap of luxury”, but comfortable. So, it was a good opportunity, despite the title. (Note: I'm in a rural area where there's only about 1 accounting position every 3 months AT MOST that comes open within driving distance.) My boss at the clerk job was someone who believed in giving people as much responsibility and as varied of duties as they were capable of handling, so I ended up doing very little clerical work and much more “exciting work”, but the title was still Clerk.

My next job-change came with another nice raise and the title “Controller”. This accounting department is pretty small, so as Controller, I do what would be considered standard Controller oversight duties as well as things that aren't as fancy, like bank reconciliations, cause it's all got to get done and we've only got so many people to split it out between.

My career trajectory is definitely not standard, and is heavily shaped by the rural area I live in. In most metropolises, my resume would've probably never gotten past HR for the Clerk job because I would've been seen as overly qualified and probably would've never gotten past HR for the Controller job because I would've been seen as under qualified – the beauty of a rural area is that for both, there were few enough applicants that my future manager got to see my resume, and in both situations apparently thought “Well, her title-changes are weird, but she looks like an interesting candidate, so we'll talk to her”.

So, my advice to you would be to not jump-ship just cause you can, but to not worry too much about the associated titles. Associated duties are more important than titles. If you can make more money *and* learn new things to progress your career, then go for it. If you're making more money but not learning anything new, then it's a jump merely for cash and there's probably a better jump that could be made. From what you've said of your situation, it sounds like a purely cash move, so I'd probably try to stick it out for another year or two and move to a Senior position next, either at your current company or at another company, presuming you can pay your bills.

If your current job is like my first accounting job and honestly doesn't pay enough to survive off of, then you may need to make a job change for financial reasons regardless of whether it's going to look the best on a resume or not. Just try to pick a prospect that you can explain for some reason other than financial as well. For example, my move from “Do-it-all Accountant” to “Accounting Clerk” was also a move from public accounting to private accounting, and private was what I'd been interested in from the start, so when asked about the move, I could say I was eager to get into private accounting and it was 100% true and also explained the change, without having to make derogatory comments about the pay at my first job. So, if you can find a position with more reason to change than *just* pay, I think that will look better, but paying the bills is important so if pay is the only reason, that can still at time be necessitated.

[TNCPA16]

I'm curious – if your current job was not paying you enough, why did you accept in the first place? As an interviewer, it'd throw some red flags to see someone so early in his career change jobs that many times. That doesn't mean you won't find employment, but people will definitely think “job hopper” if you've had 3 jobs in less than 3 years and are looking for another. You will need to be very well prepared on how to answer any interview questions that come up about why you bounced around (because I can promise you people will ask).

But, anyway, you need to think about your long term goals and long term potential. A $40k job now that has room for growth is better than a $50k job where you are stuck indefinitely. Like mamabear said, there are other factors to consider besides salary – benefits, bonus, job satisfaction, etc. If you hate your job, no amount of money will make up for dissatisfaction. If your decision is based solely on salary, my advice would be stay put and get at least a year under your belt before you left.

I was in a similar situation a few years back. I was satisfied with my job, but was way underpaid and had no real room for growth. An opportunity came up for me to make a lateral move to a different company. I had the same job title, but a 25% raise and annual bonus and the promise of a promotion in a year. It ended up working out really well for me in the end, but my decision was based on a lot of factors outside of just salary.

[CPA50]

Just totally random info for today…

Sorry Skynet…CPA didn't make the list!

Date-auction website WhatsYourPrice.com pulled data from approximately 145,000 men to find out which career makes women swoon. Professions of men that scored the most dates, make up “America’s Sexiest Jobs.”

Rank – Profession – Acceptance Rate

1. CEO / Entrepreneur – 98%

2. Financial Advisor – 96%

3. Software Developer – 93%

4. Lawyer – 90%

5. Business Consultant – 88%

6. Physician – 87%

7. Real Estate Developer – 85%

8. Marketing / Advertising Executive – 83%

9. Architect – 78%

10. Engineer – 72%

AUD 88 (expired), 80 retake
FAR 64,69,67,73,67,73,73,73, August 3
REG 75 (expired) September 7
BEC 72, 77

The adventure continues...

[Anonymous]

I was in a similar-ish situation. I decided to stay (knowing that I could have been making more money). Two years later I got promoted. After I got my promotion, I looked for a new job. It was great because I had the higher title, was making more money and had a solid resume. Future employers always ask you how much you currently make, so the promotion really helped with negotiating salary. Within two months, I increased my salary by like 20%. 10% increase for my promotion, and then another 10% increase due to the job change.

[fuzyfro89]

“Does it look bad to make moves strictly for an increase in pay? Or should one focus increasing their level and responsibilities (promotional moves)?”

I'd be careful about moving *only* for higher pay, since many other factors will determine whether you'll be satisfied and have good career opportunities there. I always consider a job as a place that I would be willing to stick out for at least 2 years. Every change comes with some type of risk (you may not like it, boss could leave, new boss could be a d*ck, coworkers are backstabbers, etc), and moving too often also has it's own risk, but like any other decision you have to weigh the costs/benefits. Some future employer may not like that you moved around a lot, while another may be impressed that you: a) recognized there was no future at a certain place, b) had a clear conversation with your supervisors about career goals and it became obvious there was no future to meet your goals, c) you took a chance on something different.

Every future employer will ask you: “why did you go from X to Y?”, and you better have a good response. “I left for a raise” shows you can be short-sighted. In every new opportunity, you should weigh both compensation and the skills you will develop and how that (may) lead to future opportunities. Generally, responsibilities and compensation are correlated, but not always.

Personally, I think you need to do what's best for you. If someone in the future might not like that you moved around, then so be it, but you'll just have to deal with that. Each move needs to have more of a “story” than just getting a bump in pay. new industry, more responsibility, geographical move, company troubles, etc, can all go into a solid reason why you went for a new job… even if you had to do it more than once.

[Gatorbates]

Titles are just that: Titles. Call me janitor, just pay me what I'm worth. Because regardless of the title, I'm still Janitor, CPA.

Licensed Florida CPA:
B: 71, 73, 79
A: 83
R: 78 (expired), 77
F: 74, 74, 80

It's finally freaking over.

[Anonymous]

My personal opinion is that you should never take a job based on pay alone- that's a quick way to find yourself in an extremely miserable and unhappy job. I had a coworker who was always searching for a better title/more pay and left the company and less than 6 months later was begging to come back, because unsurprisingly, the grass is not always greener. Also, keep in mind that's a little more difficult to be promoted in a private industry, compared to public accounting. It's not unusual to be a senior accountant in a private industry, with 6-7 years of experience. That kind of experience would be a manager in public accounting, typically.

[TNCPA16]

@ Gatorbates – sometimes titles can be important. I had a title change this year (not really a promotion since my job stayed the same), and because of my new title, I am now entitled to stock options. Nothing has changed about the work I do – only what I am called.

[Gatorbates]

You just reemphasized my point, “Titles don't matter, just pay me what I'm worth”. Your title changed, but nothing changed about your responsibilities. It was your worth that changed in the eyes of your employer.

Licensed Florida CPA:
B: 71, 73, 79
A: 83
R: 78 (expired), 77
F: 74, 74, 80

It's finally freaking over.

[TNCPA16]

No, my worth really had nothing to do with it. At the time my title changed, we didn't have a stock option plan, so it truly was just a title change. But when the company announced the stock option plan recently, it was only available to managers and above – so I was pretty glad I pushed for a new title otherwise I would have missed out.

[Author]

Replies