[Anonymous]

OK, so here is my story I will try to keep it short, if you don’t care about background info just scroll to the bottom for my main question!

I graduated in KY in 2010 with a Bachelors in Business-Accounting. I pretty much hated the state(except for basketball of course) and all the surrounding ones so I moved to Hawaii(best decision ever!). I really enjoyed school so I figured that it would be better to just keeping going rather than bumming around trying to find a job right away. I had already gotten my degree with an emphasis in Accounting and had met the CPA requirements so I thought it was a little pointless to get my MACC and went for my MBA instead. School here has been awesome, I’ve gained a much broader understanding of how businesses operate in every aspect. I also had the opportunity to work with people from various cultures that I otherwise never would have come into contact with.

Over summer I began to work on the CPA exam and passed BEC, REG, and FAR, and have no doubts that I will pass AUD sometime within the next few months. During my undergraduate studies I worked for 3 years(part-time) as an accounting assistant, finance/accounting intern, and in AP. In Hawaii I have only done a small amount of bookkeeping.

Now I am starting to apply and begin interviewing with CPA firms in the area and I am just curious if anyone has any idea of what I should expect. We have 3 of the big 4, no PWC, and a few regional firms, I plan on applying to most if not all. I know the starting salary for a fresh college graduate is anywhere from 38~55.

So my main question is…What should I expect as a starting salary for a 24 yr old MBA graduate(3.8~3.9) who has passed all 4 sections, and has, relatively speaking, decent work experience?

Thanks for your help! Of course if you have any questions or need more info let me know.

[mla1169]

I think you're going to have to look on Robert Half. I assume that in Hawaii (and we're all invited to come crash at your place, I assume) its a bit different than on the mainland. I don't know if the education/credentials are as common as they might be in Boston or NY and if I remember correctly the standard of living out there is high (btw what does a gallon of milk or a gallon of gas go for there? Maybe I don't want to know!)

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

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

Yeah I have checked out Robert Half and I know the salary range. I'm just wondering that because of my credentials if I will have any type of salary bump, just have a stronger application than most other applicants, or maybe even be considered overqualified(which I am assuming is impossible for a CPA lol). As for milk it is at 4.75 at Wal-Mart right now which is a killer for me as I typically go through 2 gallons a week! Gas is really a non-issue, I drive a moped (having a car just seems absurd to me at this point) so i get like 80 mpg and never have to drive more than 5-10 miles because everything I ever need is right here, beach, downtown, school, mall, ocean, grocery store, and more beach! But to answer your question I think it is around $4.20.

[Peanut]

@808CDR, my best girlfriend lives in Hawaii and I had originally planned to move there after my exams. After stalking all of the job related forums I mentally switched to wanting to move to a different warmer state instead (possibly Cali) this is because I could neverrr find anything for accounting in Hawaii! Actually, now that I reread your post.. You must not be referring to Maui? I was looking exclusively in Maui. I have done so much research on jobs out there for accounting, and the consensus was they generally pay lower than the mainland. You never know though, especially since it seems you're looking more towards big island. On a serious note, if you find jobs out there on big, you best let me know because I would still move out there in a heartbeat to be with my best girl and to live in the most beautiful place! Try scouting indeed.com, they usually have salary ranges by location. Best of luck! Seriously.. keep me update!

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[Anonymous]

Like you said, the average starting salary is $35-55k. You dont have any audit experiance, the accounting experience you do have is very entry level, and it was a few years ago (as you said, that was during your undergrad years, right?). The fact that you have an MBA i really dont think will help you get a higher salary because its not relevant to the position of an audit staff, but the fact that you will have passed the CPA exam is a plus. The MBA might help you be more attractive to an employer because of your potential to be promoted, but i dont think it will add too much to the starting salary.

[Anonymous]

@peanut Yes I live on Oahu, much larger metropolitan area with around 750,000 population. From what I have seen our economy is not even close to being affected as the rest of the mainland. Mainly because we rely on tourism from Japan, other Asian countries, Australia, Europe, and the U.S. There seems to always be help wanted signs in many of the small businesses and always a plentiful supply of accounting jobs on the accountemps and roberthalf websites. This all makes sense considering our unemployment rate is around 6% compare with the national average of around 9%.

[Anonymous]

@calcpasoon…I agree, I felt that the MBA would open more doors later on for advancement into management positions. When I first got here a did a couple informational interviews and was told that they like to recruit MBA's because they generally have better communication/social skills and a broader understanding of the companies they are working with.

Also audit is kind of like the default position to start for me but I would really love to get into the consulting/solutions side of accounting. I know that its possible to start here but rare. Does anyone have an experience with the amount of time it takes to get into this position or is it based more on a firms immediate needs?

[markiux88]

808CDR..you're my hero!!!!!!!! haha

[OnMyWayToCPA]

@808, Your credentials make you a better candidate and will probably get you the job but they dont really help out much more than that (esp in reference to salary) until you get into a job that is not entry level. My guess is that you will be hired on at somewhere close to the bottom of the salary range for accountants in Hawaii.

I say this because you dont have any experience after graduation, yet.

Just a guess but the entry level salary range for any given position probably is not much bigger than $4000-$5000. In Oklahoma its about $37000 -$42000

From what I have seen the only thing that really makes salary go up is experience (after graduating)

However, your education and credentials will change the types of positions you qualify for and that could make a difference in your salary.

So, in my opinion, it really depends more on your work experience (after graduation) the job you apply for than the extra credentials you bring to the table

Just as an example, say you are applying for a job and it is you, and another person with just a bachelors and maybe he is working on his CPA but has only passed on part. You would be the clear winner, barring any other weird circumstances but just because they picked you doesnt mean they would want to give you $5000 than they would have given the other guy. Especially when you will be doing the same job. The only caveat to that is if you have experience under your belt, because then you are billable at a higher rate for one thing and you can get the job done faster

Again, just my opinion…

B - 79 PASSED (1/4 there!)
A - 77 PASSED (1/2 there!)
F - 79 PASSED (3/4 there!)
R - 83 PASSED (DONE!!!!!!)
Review Course: Lambers , Wiley and Ninja

[jamesjohnson11]

I honestly don't think the MBA matters this early on in your work life. yes it's a great thing but I think most firms just see it as you spent more time in school and you don't have any real business experience that can add to the MBA. I think once you get older it will become a great thing to have because a lot of firms look for someone having an MBA, but I don't think it will increase your salary. It's the same thing at the big 4. From what I hear they don't give people with masters any more money than someone with a BBA, at least not in audit, I think its different in tax.

R PASS
A PASS
B PASS
F AUGUST

[Anonymous]

@onmywaytocpa….Thanks that is some great insight to my situation! I feel like you are on track.

Another question I have…Generally firms give a bonus when you pass the exam within the first year or two…How does that work with someone who comes in passing all four parts? Do they just get the short end of the stick or is the bonus tacked on to the signing bonus if applicable? That is one reason why I have not yet taken AUD haha

[Anonymous]

@markiuxx88….haha thanks!! did I mention I get to surf about every other day!

[Anonymous]

I hate you 🙂

[markiux88]

Hate no good…I'm going to Acapulco and Cancun when I'm done with this… lol…

[katiekanton]

808CDR said, “Another question I have…Generally firms give a bonus when you pass the exam within the first year or two…How does that work with someone who comes in passing all four parts? Do they just get the short end of the stick or is the bonus tacked on to the signing bonus if applicable? That is one reason why I have not yet taken AUD haha?”

I have had the same question and wondered if I needed to put off one section, or if having all four down would give me the edge. Having the job and no bonus is better than not having the job at all.

808, I can only add this advice, if you're going through $9 a week of milk, get a jersey cow. Also, I hate you. Sooooo jealous. 🙂

My CPA firm owning boss is a world traveler, literally. He went to Hawaii last year for the first time and said that it was the most beautiful place he had EVER been. He said he talked to lawyers and other professionals who, after visiting Hawaii, quit their mainland jobs and moved there, taking whatever jobs they had to, even waiting tables. They said it was worth it.

AUD - 88
FAR - 90
REG - 85
BEC - 88

[NECain]

808CDR

I don't have an MBA, but I work with people that do and I'm pretty sure that I make more than they do. Plus, they're older than me. I think that work experience and degrees are some of it, but I also think how effective you work plays a big part. It's nice to have all those plaques hanging up in your office, but they don't mean a whole lot until you get down to the nitty gritty and start banging out some quality work.

With that said, I'm sure you'll move up fast cuz you appear to be pretty driven and you're a hop, skip, and an AUD test (plus 2 years of work experience) away from becoming a CPA.

REG - 79
BEC - 75
AUD - 84
FAR - 75
Done...Thank you Wiley Books, Wiley Test Bank, and the NINJA Notes

[Author]

Replies