[MrCPA2B]

Hey Ninjas! Hadn’t posted in a while! I am in my final days of my Masters in Accounting program and will graduate next weekend! Recently, I have been interviewing and applying to different accounting jobs that more closely align with my career goals. Now I work as an accounting clerk or as they like to say at my job accounting associate for $12 bucks an hour. During my last 2 final interviews i had with 2 different companies last week they wanted to discuss salary and asked how much are you worth? He stated I’m not sure how much per hour typically a person of your caliber is worth. I completely blanked and said the stupidest thing “I honestly can care less about salary, I am more focused on the experience and growth”. My question is How much should I be expecting with a Masters in Accounting? Also, how can i explain to employers that working as an accounting clerk will make me valuable to their position? Sorry but this has been on my mind ever since the interview and now im depressed because I feel worthless! Mostly because i didn’t secure a job in public accounting right after undergrad.

I live in Virginia BTW…

AUD- FEB 2014
BEC- APR 2014
FAR- MAY 2014
REG- AUG 2014

Using Wiley CPA Exam Review and Ninja Notes
May the "Force" be with me!

[MrCPA2B]

Thanks @Skynet I'll keep that in mind when i go to my next interview!

AUD- FEB 2014
BEC- APR 2014
FAR- MAY 2014
REG- AUG 2014

Using Wiley CPA Exam Review and Ninja Notes
May the "Force" be with me!

[mla1169]

A masters degree is “nice” if you have senior level particularly management experience. Your experience and current salary will hold you back a bit.

You need to do your homework before you go on an interview. You need to look at Robert Half's salary guide and reliable sources to get a feel for the salary of the position you are applying to before you walk in their door. If you're applying as a staff accountant north of Boston the avg salary is about $55k. Nobody is going to pay a staff accountant north of Boston $80k because they have a masters. You're worth depends on the position you are applying to and how qualified (experienced) you are for that job. At this point in your career the benefit of your grad degree is to make your resume more desirable than a similar resume with a bachelors.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[mla1169]

A masters degree is “nice” if you have senior level particularly management experience. Your experience and current salary will hold you back a bit.

You need to do your homework before you go on an interview. You need to look at Robert Half's salary guide and reliable sources to get a feel for the salary of the position you are applying to before you walk in their door. If you're applying as a staff accountant north of Boston the avg salary is about $55k. Nobody is going to pay a staff accountant north of Boston $80k because they have a masters. You're worth depends on the position you are applying to and how qualified (experienced) you are for that job. At this point in your career the benefit of your grad degree is to make your resume more desirable than a similar resume with a bachelors.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[fuzyfro89]

It's all about a match between what they are willing to pay (for a certain role) and the availability of that skill set. Implicit in that is cost of living, education, etc. Before any interview, you need to know your own number (i.e. lower than $40K and I'm willing to ask for more and walk away if they can't agree), but it should be based on the market and position and your skills.

Since you're doing a non-professional job right now (not trying to offend, but you don't need a Masters and to be on the CPA track to be an acct clerk for $12/hr), it will hold you back because every interviewer will try to answer in their minds “Why is this person who is overqualified for their current role doing that? Why should I be the first to give them a chance?”

It really is a catch, since you need experience to move ahead but no one wants to be the first. Expect challenges, but stay focused and know what you're willing to do. You've got to do your homework to see what a commensurate compensation level would be for a certain role, otherwise you're wasting your own time (and their's).

To answer, assuming you're in the vicinity of DC metro, a Big 4 new hire will probably be in the mid-50s, so adjust that up/down based on what company/role you're going for.Hope that helps a little, but it's tough to give an estimate about how much you're worth without knowing what you're applying for and what you're willing to take.

[fuzyfro89]

It's all about a match between what they are willing to pay (for a certain role) and the availability of that skill set. Implicit in that is cost of living, education, etc. Before any interview, you need to know your own number (i.e. lower than $40K and I'm willing to ask for more and walk away if they can't agree), but it should be based on the market and position and your skills.

Since you're doing a non-professional job right now (not trying to offend, but you don't need a Masters and to be on the CPA track to be an acct clerk for $12/hr), it will hold you back because every interviewer will try to answer in their minds “Why is this person who is overqualified for their current role doing that? Why should I be the first to give them a chance?”

It really is a catch, since you need experience to move ahead but no one wants to be the first. Expect challenges, but stay focused and know what you're willing to do. You've got to do your homework to see what a commensurate compensation level would be for a certain role, otherwise you're wasting your own time (and their's).

To answer, assuming you're in the vicinity of DC metro, a Big 4 new hire will probably be in the mid-50s, so adjust that up/down based on what company/role you're going for.Hope that helps a little, but it's tough to give an estimate about how much you're worth without knowing what you're applying for and what you're willing to take.

[MrCPA2B]

Thank you all! I realize that now that i'm not doing a “professional job” like working as a staff accountant or anything. However, I accepted the position mainly because I needed time to get my masters degree instead of being overwhelmed with the duties of being a public accountant. I just really consider my current employment status as a moderately paid graduate assistant. LOL. Now that i am done with it i expect to jump into public accounting when they begin hiring again for their upcoming tax/audit season.

AUD- FEB 2014
BEC- APR 2014
FAR- MAY 2014
REG- AUG 2014

Using Wiley CPA Exam Review and Ninja Notes
May the "Force" be with me!

[MrCPA2B]

Thank you all! I realize that now that i'm not doing a “professional job” like working as a staff accountant or anything. However, I accepted the position mainly because I needed time to get my masters degree instead of being overwhelmed with the duties of being a public accountant. I just really consider my current employment status as a moderately paid graduate assistant. LOL. Now that i am done with it i expect to jump into public accounting when they begin hiring again for their upcoming tax/audit season.

AUD- FEB 2014
BEC- APR 2014
FAR- MAY 2014
REG- AUG 2014

Using Wiley CPA Exam Review and Ninja Notes
May the "Force" be with me!

[Anonymous]

In my job searching experience, I learned that public accounting firms know what they're going to pay new staff before they ever start interviewing. I don't know if you're looking for public or private, but I suspect that they all know what they are willing to pay to fill the position. This is especially true when a company is looking to staff several openings. If the company is only hiring one person per year, salary might be a little more negotiable but that's probably a little more rare. That being said, I had to fill out “desired salary” on tons of applications. I made my best guess of what they actually intended to pay a person who took that position and then said that I desired $2,000/year less. I often times knew exactly what they were going to pay an entry level because I networked enough to hear the actual job offers. They are not going to base your salary on what you state anyway. As stated, they probably know exactly what they will pay their new hires. You just don't want to sound like an arrogant ass (I'm worth $100,000/year) or a self loathing slug (I'm worth $2/hour).

Here is the quantitative piece as I also live in Virginia. I graduated from JMU with a good GPA and a decent looking resume. I had no accounting experience but did have a good work history. I got an offer from a public accounting firm in Harrisonburg for around $47,000. I got an offer from Baker Tilly in Tysons for $61,000 + a large signing bonus + a large bonus if I could pass all parts of the Exam in a year or so. I took a job in Winchester with YHB starting at $52,000 without the beefy signing bonus because I like the location and the people are really cool. I hope some of that helps. Most importantly, you need to be confident and understand that you are a valued resource. You also do not want to be a pompous pain in the butt.

[Anonymous]

In my job searching experience, I learned that public accounting firms know what they're going to pay new staff before they ever start interviewing. I don't know if you're looking for public or private, but I suspect that they all know what they are willing to pay to fill the position. This is especially true when a company is looking to staff several openings. If the company is only hiring one person per year, salary might be a little more negotiable but that's probably a little more rare. That being said, I had to fill out “desired salary” on tons of applications. I made my best guess of what they actually intended to pay a person who took that position and then said that I desired $2,000/year less. I often times knew exactly what they were going to pay an entry level because I networked enough to hear the actual job offers. They are not going to base your salary on what you state anyway. As stated, they probably know exactly what they will pay their new hires. You just don't want to sound like an arrogant ass (I'm worth $100,000/year) or a self loathing slug (I'm worth $2/hour).

Here is the quantitative piece as I also live in Virginia. I graduated from JMU with a good GPA and a decent looking resume. I had no accounting experience but did have a good work history. I got an offer from a public accounting firm in Harrisonburg for around $47,000. I got an offer from Baker Tilly in Tysons for $61,000 + a large signing bonus + a large bonus if I could pass all parts of the Exam in a year or so. I took a job in Winchester with YHB starting at $52,000 without the beefy signing bonus because I like the location and the people are really cool. I hope some of that helps. Most importantly, you need to be confident and understand that you are a valued resource. You also do not want to be a pompous pain in the butt.

[MrCPA2B]

@BillfromAccounting That is some good information! I will definitely keep this in mind going forward! Thank you!

AUD- FEB 2014
BEC- APR 2014
FAR- MAY 2014
REG- AUG 2014

Using Wiley CPA Exam Review and Ninja Notes
May the "Force" be with me!

[MrCPA2B]

@BillfromAccounting That is some good information! I will definitely keep this in mind going forward! Thank you!

AUD- FEB 2014
BEC- APR 2014
FAR- MAY 2014
REG- AUG 2014

Using Wiley CPA Exam Review and Ninja Notes
May the "Force" be with me!

[san4596]

Like everyone said, it depends on location. However, I personally believe you to be worth much more than $12/hr($24,960). The number 1 thing you should do is lie about what you are currently making if asked. In this case, you should tell them your current salary is $31,200($15/hr) plus benefits. The goal is to lie just enough for them to believe you, and any higher would be an obvious lie.

Next, you need to look up the average salary for the position in that area, and work from that figure. If asked that question again, you should definitely use the information that Java gave as a joke. After everyone is done laughing, that is when you should give your answer of either the Average Pay or just above the Average Pay for that position. I personally say just above the average pay is a good figure, since they will offer you less than what you are asking. It is all a negotiation, and not knowing what salary to ask for indicates you were not prepared. Being prepared is a great impression.

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[san4596]

Like everyone said, it depends on location. However, I personally believe you to be worth much more than $12/hr($24,960). The number 1 thing you should do is lie about what you are currently making if asked. In this case, you should tell them your current salary is $31,200($15/hr) plus benefits. The goal is to lie just enough for them to believe you, and any higher would be an obvious lie.

Next, you need to look up the average salary for the position in that area, and work from that figure. If asked that question again, you should definitely use the information that Java gave as a joke. After everyone is done laughing, that is when you should give your answer of either the Average Pay or just above the Average Pay for that position. I personally say just above the average pay is a good figure, since they will offer you less than what you are asking. It is all a negotiation, and not knowing what salary to ask for indicates you were not prepared. Being prepared is a great impression.

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[Iron_Victory]

Why would you advise someone to lie? That is not right. Not right at all.

AUD - (74),78
BEC - 85
FAR - 86
REG - 84

[Iron_Victory]

Why would you advise someone to lie? That is not right. Not right at all.

AUD - (74),78
BEC - 85
FAR - 86
REG - 84

[Author]

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