[John Doe 15]

Like I said, sorry if this is a shallow question about money but how much can you expect to get paid around NYC after just passing the CPA exam with no experience?

I was researching some numbers and I was getting 50-60K

I see police officers with no college education making $145K after 15 years. It’s not a fair comparison with the 15 years but if you were to take the average accountant with a CPA, where will they end up after 15 years?

This is a lot of work and it’s getting very expensive and I want to make this path is a financially sound one.

Interested to hear your thoughts.

[waffle_house]

How do you get licensed with no experience? I know in Texas you have to at least 1 year experience under a CPA to get licensed.

[John Doe 15]

You know what I mean. I meant to say a fresh out of school CPA with the one year work experience requirement. When you're working that one year, you're not a CPA so that's why I said a brand new CPA.

[Ana]

that's an accurate range. in 15 years, the possibilities are 70k-2M. You can be a senior accountant, supervisor, accounting manager, assistant controller, controller, a cfo, cao, partner, have your own firm. it all depends where your career ends up.

[Anonymous]

$50-60k is starting. After 15 years a CPA should make between $100-140k on average. If you get a controller or CFO position the range is between $150-$250k+. Recently, the AICPA did a survey on CPA’s and the median salary was $119,000 WITHOUT bonuses or benefits (from what I recall reading…). Of course some of these estimates depend on where you live, so they may vary $10-20k+/- depending on if you live in NY or Idaho.

Becoming a police officer is rigorous in its own way. My brother was trying to become a cop and had to pass many tests, polygraph, and attend the Academy. He did not make it past the polygraph unfortunately. Of course the exams are laughable compared to the CPA (not even close!!) but I hear the Academy isn’t fun. Also, I’d rather crunch numbers than have to dodge bullets and deal with really bad people on a daily basis.

I have A LOT of respect for police officers. That would be such a hard job to do day in and day out – especially if you work bad neighborhoods.

Hope my feedback helps. It may not be 100% accurate, but it is pretty close.

Goodluck.

[PNS2CLT]

If you meet the cut, Big 4 and equal caliber firms will start in the low-to-mid 60s in NYC. If you don't, somewhere in 50s — less if your grades were really poor. Of course, this is a generalization.

After 15 years, your pay will be based on merit. Non-managers will make less than $100K, managers $100K-$150K and partners/principals a heck of a lot more (of course, that generally involves bringing client$ into the firm).

NYPD are union and the scale tops out around $80K. You'd have to average 70 hours/week to reach $145K (and yes, it happens)…

[RE2PECT]

I recently started at a small firm in NY with no prior accounting experience at 60k. Heard people say it's possible to get around 100k in about 5 years, but I'll probably have to switch jobs to do that.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[John Doe 15]

Great advice…thanks.

I'm just paranoid that I'll be that CPA one day stuck at 75K while everybody moves up. I know a few CPA's but unfortunately it would be awkward for me to ask what they make as I don't know them at that level. They seem alright though.

I want to put my future kids through college some day. I need more than 75K.

[Missy]

Like everything else you get out what you put in, there are people with just their GED that make over a million a year and there are CPA's with 15 years' experience who only make $60k. Generally the CPA's who make bank are the ones who paid their dues, were slaves at big 4 (exaggerating, I realize there are pros and cons to everything) and go on to management at a fortune 500 company.

End of the day a controller at a 4m/year business will only make a fraction of what a controller at a 40m/year business, and likewise to a controller at a 4 billion a year business.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Ndom1]

Work hard, get your CPA, and keep climbing up the food chain and you will be fine. The CPA is whatever you want to turn it into. So many different paths you can take.

Also, make sure you marry someone who makes a good salary and you'll be in the clear.

[John Doe 15]

Thanks guys, I feel positive.

I'm new to all of this…I have to learn what you know and I guess it will just take time.

[Yahmon]

$60K starting in NYC seems low even if you're a new CPA. With cost of living I would think it would be closer to about $75K. At the end of the day it all depends on how much you think you're worth and how much conviction you have to demand that.

FAR 8/20/15 - Passed 77
AUD 10/10/15 -
BEC TBD
REG TBD

[PNS2CLT]

Cost of living is irrelevant; wages are set at a rate that attracts a large enough talent pool that meets the firm's needs & criteria. For years, the Houston area offered the highest starting wages — often available to those (e.g. 2.8 GPA) who wouldn't even be considered elsewhere — despite having one of the lowest cost of living in the country, simply because its economy was vastly expanding and it was desperate to attract workers. And entry level wages in Los Angeles area are similar (often LESS) than those in Cleveland. Why? Because Millennials want to live in Los Angeles and are willing to work for less discretionary income to do so; meanwhile, in Cleveland, wages have to be set a rate to attract people.

If wages truly had a cost of living adjustment, it'd be perpetual since they'd be an infinite number of people wanting to move to NYC, LA, SF, etc. Instead, wages are set to market equilibrium.

[Juice23]

Cost of living is not quite “irrelevant.” It is certainly one factor among many that determines market equilibrium for a given industry in a particular geographical location.

[Yahmon]

@PNS2CLT…I guess you've never seen the Robert Half salary review. Cost of living is indeed relevant and one of the major factors of how well people are paid based on where they live. That's why most big cities pay more than rural america

FAR 8/20/15 - Passed 77
AUD 10/10/15 -
BEC TBD
REG TBD

[Author]

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