[Anonymous]

On an average how much salary does a CPA with 5 year work ex make in chicago/new york area?

[jasonrobbins]

@zieba

Sorry, but we will have to agree to disagree.

If you have 5 years experience and a CPA, do not accept anything under 6 figures in NYC (large firm or otherwise). You are selling yourself short and you never want to do that.

100k in NYC, is like 60k elsewhere in the country.

I don't agree with the rent figure in the article below (you can get a roommate and split the rent bill) but everything else is accurate (and if you have a girlfriend tack on another $500- $1,000 in expenses!):

https://www.financialsamurai.com/how-do-people-to-live-a-comfortable-life-making-less-than-100000-in-expensive-cities-like-new-york/

AUD- 97 1x
REG- 81 1x
BEC- 79 1x
FAR- 88 1x

DONE!

10/1/12 to 2/28/14

[zieba]

Generalizations such as the conversion factor you described do nothing for the argument at hand. Five years experience is irrelevant to this discussion, as “experience” merely allows you to snag a position at a certain level. Therefore, we can restate this question as “If I've been at the accounting game for five years and I have my CPA what kind of position can I land and what will that position pay?” I am not a head hunter but the assertion that everyone with five years of accounting is getting paid stupid dollars is asinine.

Totally at random, and for purposes of illustration. A senior tax accountant with a capital markets firm in NYC is slotted at 70-100K, 85K is in the middle of that range and also in the middle of the range I posted earlier.

https://www.abacusnyc.com/positions/job/12906?utm_source=Indeed&utm_medium=cpc&utm_campaign=Indeed

People out of school have this warped perception that you start at 60-70K and every year it's a 5-10K raise because you're in the big city. WTF? Market clearing price is a function of supply and demand. You don't like the gig? There's four dudes behind you who won't be offended by a 85K offer after five years.

The answer to OP's question is out there. All one needs to do is hit job sites and get a feel for what market is for a five year accountant with certification. Rest assured, there will always be an upper echelon for ivy's and the brightest at the best firms, however that is not representative of the market as a whole.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[zieba]

Generalizations such as the conversion factor you described do nothing for the argument at hand. Five years experience is irrelevant to this discussion, as “experience” merely allows you to snag a position at a certain level. Therefore, we can restate this question as “If I've been at the accounting game for five years and I have my CPA what kind of position can I land and what will that position pay?” I am not a head hunter but the assertion that everyone with five years of accounting is getting paid stupid dollars is asinine.

Totally at random, and for purposes of illustration. A senior tax accountant with a capital markets firm in NYC is slotted at 70-100K, 85K is in the middle of that range and also in the middle of the range I posted earlier.

https://www.abacusnyc.com/positions/job/12906?utm_source=Indeed&utm_medium=cpc&utm_campaign=Indeed

People out of school have this warped perception that you start at 60-70K and every year it's a 5-10K raise because you're in the big city. WTF? Market clearing price is a function of supply and demand. You don't like the gig? There's four dudes behind you who won't be offended by a 85K offer after five years.

The answer to OP's question is out there. All one needs to do is hit job sites and get a feel for what market is for a five year accountant with certification. Rest assured, there will always be an upper echelon for ivy's and the brightest at the best firms, however that is not representative of the market as a whole.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[Study Monk]

If I go back into public accounting with 1 year of audit experience(acquired 6 years ago) and a newly acquired CPA license what should i ask for? Leaning towards tax in San Francisco. I am hoping the new educational requirements in this state will increase salaries. It used to be 50k starting out of college. In 5 years I hope to make at least 100k 😉

On that note i am assuming that a person with a CPA before the 5 years of experience will make significantly more than the person who got the CPA after the 5 years of experience due to promotions and more significant job changes.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Study Monk]

If I go back into public accounting with 1 year of audit experience(acquired 6 years ago) and a newly acquired CPA license what should i ask for? Leaning towards tax in San Francisco. I am hoping the new educational requirements in this state will increase salaries. It used to be 50k starting out of college. In 5 years I hope to make at least 100k 😉

On that note i am assuming that a person with a CPA before the 5 years of experience will make significantly more than the person who got the CPA after the 5 years of experience due to promotions and more significant job changes.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[impska]

I am shocked at these salaries in NY. But I also take them with a grain of salt, because I graduated with a guy who went to NYC for 70k start with no experience in tax consulting. If you're not making six figures in five years, I don't know why you'd stay in that job, given all of the other opportunities that are open to you after 5 years in public accounting. Isn't the point of going to NYC so that you can exit public accounting as quickly as possible into one of those mythical lucrative NYC opportunities?

Cause if 90k is all you get after five years in NYC, I don't get it.

In the end, I wonder if my career advice on the IPad thread should have been, “Move to Kansas City, where the living is cheap and the salaries are high.”

REG - 94
BEC - 92
FAR - 92
AUD - 99

[impska]

I am shocked at these salaries in NY. But I also take them with a grain of salt, because I graduated with a guy who went to NYC for 70k start with no experience in tax consulting. If you're not making six figures in five years, I don't know why you'd stay in that job, given all of the other opportunities that are open to you after 5 years in public accounting. Isn't the point of going to NYC so that you can exit public accounting as quickly as possible into one of those mythical lucrative NYC opportunities?

Cause if 90k is all you get after five years in NYC, I don't get it.

In the end, I wonder if my career advice on the IPad thread should have been, “Move to Kansas City, where the living is cheap and the salaries are high.”

REG - 94
BEC - 92
FAR - 92
AUD - 99

[zieba]

To all of you who romanticize living in the big city – per census data – the average median household salary in Manhattan is $66,739. Granted, there are very poor parts of Manhattan on government subsidies but there are also plenty of 1000sq/ft condos for 500K and town homes for $66M. And yes, having a CPA obviously nudges one towards the wealthier extreme of this gamut. However, any articles claiming one simply cannot live on less than 100K and will literally starve to death unless your retirement plans are fully funded before you drop $200 on cabs, are just pleas for the tiniest violin award.

One of my favorite quotes about this city is by Wood Allen who once said, “I can’t with any conscience argue for New York with anyone. It’s like Calcutta. But I love the city in an emotional, irrational way, like loving your mother or your father even though they’re a drunk or a thief. I’ve loved the city my whole life — to me, it’s like a great woman.”

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[zieba]

To all of you who romanticize living in the big city – per census data – the average median household salary in Manhattan is $66,739. Granted, there are very poor parts of Manhattan on government subsidies but there are also plenty of 1000sq/ft condos for 500K and town homes for $66M. And yes, having a CPA obviously nudges one towards the wealthier extreme of this gamut. However, any articles claiming one simply cannot live on less than 100K and will literally starve to death unless your retirement plans are fully funded before you drop $200 on cabs, are just pleas for the tiniest violin award.

One of my favorite quotes about this city is by Wood Allen who once said, “I can’t with any conscience argue for New York with anyone. It’s like Calcutta. But I love the city in an emotional, irrational way, like loving your mother or your father even though they’re a drunk or a thief. I’ve loved the city my whole life — to me, it’s like a great woman.”

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[Julia_anika]

What?!?!?

After I pass all 4 exams, plus finish my MST (I have 3 years of accounting experience)… I'm hoping to find a job that pays at least 75K in NYC. Hopefully I'll find smth close to 90K. Otherwise, this damn exam (CPA) doesn't worth my time studying…

If you are a CPA with 5 years of experience I think you should be looking for something above 100K.

NYC, NY
FAR - 82 Jan 2014
AUD - 86 Apr 2014
BEC - 77 Aug 2014
REG - 79 Nov 2014

[Julia_anika]

What?!?!?

After I pass all 4 exams, plus finish my MST (I have 3 years of accounting experience)… I'm hoping to find a job that pays at least 75K in NYC. Hopefully I'll find smth close to 90K. Otherwise, this damn exam (CPA) doesn't worth my time studying…

If you are a CPA with 5 years of experience I think you should be looking for something above 100K.

NYC, NY
FAR - 82 Jan 2014
AUD - 86 Apr 2014
BEC - 77 Aug 2014
REG - 79 Nov 2014

[LatinoTurkCPA]

Well I live in NYC area, half way through my CPA and MBA and make less than 50K working in financial reporting of a fortune 500 company.

F: 76 8/31/13 Wiley Test Bank
A: 77 11/4/13 Wiley Test Bank
R
B

MBA 06/2012 - ?

[LatinoTurkCPA]

Well I live in NYC area, half way through my CPA and MBA and make less than 50K working in financial reporting of a fortune 500 company.

F: 76 8/31/13 Wiley Test Bank
A: 77 11/4/13 Wiley Test Bank
R
B

MBA 06/2012 - ?

[LSNYC]

As I said in my earlier post, you need to take into account where was the experience prior, what industry you are going into, room for movement etc. When I was an auditor I saw controllers of companies with 20 years experience who were make 125k. That company isn't paying someone with 5 years experience 6 figures.

Companies with lots of room for movement, bonuses, great benefits, pay less, because people WANT to work there. There are tons of factors that play into the range, its impossible to say every person with 5 years makes 100k, I can tell you that is not the case. I also know companies might start you at 100k with 5 years experience but only give you 2% raise every year, where another company may give you 70 or 80 with larger increases. There are just to many factors to make blanket statements.

Also for the record I live in metro NY, work in NYC, and have almost 9 years experience, and have hired people with 5 years experience.

A - 61, 91!!
B - 78!
F - 76!!!
R - 71, 73, 74, 69, 77!!!!

Finally done!

This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

[LSNYC]

As I said in my earlier post, you need to take into account where was the experience prior, what industry you are going into, room for movement etc. When I was an auditor I saw controllers of companies with 20 years experience who were make 125k. That company isn't paying someone with 5 years experience 6 figures.

Companies with lots of room for movement, bonuses, great benefits, pay less, because people WANT to work there. There are tons of factors that play into the range, its impossible to say every person with 5 years makes 100k, I can tell you that is not the case. I also know companies might start you at 100k with 5 years experience but only give you 2% raise every year, where another company may give you 70 or 80 with larger increases. There are just to many factors to make blanket statements.

Also for the record I live in metro NY, work in NYC, and have almost 9 years experience, and have hired people with 5 years experience.

A - 61, 91!!
B - 78!
F - 76!!!
R - 71, 73, 74, 69, 77!!!!

Finally done!

This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

[Author]

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