[Soon2B_cpa]

Hey my fellow CPAs & soon to be CPAs,

I currently work for a local CPA firm in NYC. I have been with the firm for 7 months and just recently passed all 4 parts of the CPA exam but I am not licensed yet. Before I started, I was told by the hiring manager that there will be a review at year-end to determine raise/promotion. I have since passed all 4 parts of the CPA exam and now have a full busy season under my belt. But since this is my first year at a public accounting firm, I am not sure how I should go about asking for a raise/promotion. Should I wait til year-end or ask now? The reason I want to ask now is because I feel that I am underpaid(about 20% underpaid according to Robert Half for a small firm, not including an additional 5-10% for certifications). And if I should ask now, how should I initiate the process, do I just ask for a raise or do I indirectly ask by asking for a mid-year review and should this be done via email or in person? Any help is truly appreciated!

G’luck studying!

[ScruffMcGruff]

Would definitely advise you to hold off on asking about a raise until your review comes up and/or you've been there AT LEAST one year.

I mean look at it from your boss's (or the owner's) perspective. You've been there barely over a half of a year and you already want a raise? Even if you do have good points like the ones you've mentioned, they probably already believe they are paying you a pretty fair salary (and/or what they can afford to pay you at the moment). Additionally, do you have a back up plan if this were to blow up in your face? If you don't have a second job waiting, you really have no positive leverage to put on them to make them give you a healthy raise like you want. Again, I would wait until your review and try to ‘randomly' bring it up then. Just my opinion though.

AUD - 85
FAR - 78 (lol@ FAR Sims)
REG - 85
BEC - August

[KEMcpa]

I agree with Scruff. You didn't indicate the size of the local firm, but it is likely that a smaller local firm bases pay to some extent on prior year profitability. Your best bet for raises is to become as valuable to the firm as possible and to help them have a great year. Chances are you will be rewarded for your contributions and efforts. However, it never hurts to look for other opportunities around you. If you find a better offer, you could give your current employer a chance to match the offer. There's my .02 cents worth!

Licensed Texas CPA!

[Chantel]

I'm sure you'll have an annual review right? I'd wait until then. Even though you did pass all your exams and some companies give great bonuses for that, others don't, but I'm sure they'll take it into account during your review and you can ask and state your case then if they don't bring it up.

F - F ('12), 90 (Dec '15)
A - F ('12), 73 (Feb '16), ? (July '16)
R - 87 (May '16)
B -

[mla1169]

Just remember you become far more valuable to a firm when you have license in hand. That's when I would ask for a raise.

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

Massachusetts CPA (non reporting) since 3/12.

[Soon2B_cpa]

Thanks for all the great advice.

I think I am going to go ahead and speak to the manager so this way, raise or not, I will atleast get a feel for where I stand with the firm.

If you guys have any stories to share as to how you approached the manager and started that conversation, it will really be helpful.

[jtcali]

hi all,

i am in the same position but i've worked at my firm 4 years. i too feel underpaid. i started working here before i was even eligible to take the cpa exam. i got licensed in april of this year. should i wait for my annual review or ask for a raise now?

[MeaDebitum]

I share the same opinion as Scruff. I wouldn't ask for a raise before evals unless you have to fall back on in case this blows up in your face. Especially where OP hasn't even been there a year yet. Also, if you're not licensed yet, don't count on that helping.

[Anonymous]

“250k with private helicopter or I'm walking.”

[Author]

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