[Alex]

Hi,

I got licensed in November 2019. I thought it would boost my salary by 15 – 20%. However, the company I work for just told me that my upcoming raise would be normal 3-5% along with a normal bonus. Essentially, they don’t care that I got it, and they are not rewarding me for it. So instead, I now have to go look for a new job. However, my previous jobs have only been staff accountant level. Therefore, it seems that no-one is interested in me as a senior. It’s been 3 months and 13 days and the CPA license has still been a complete waste of time. Anyways, I will keep looking and see what I can get, but I am here to say that getting a CPA license doesn’t instantly get you benefits.

Thank you,

Alex

[Y05H1 3GG]

I’m having a similar experience as you. I became licensed in August and initially got a verbal congrats from my supervisor. After 3 months I had a check in with him and I mentioned that I was interested in moving into a senior analyst role. His response was not yet and that job roles may be redefined since we were recently acquired and have gone from a not for profit to a publicly traded company. Fast forward to a couple weeks ago my supervisors role was eliminated and now I feel like I have been completely reset on any momentum toward becoming a senior analyst I have built after being with the company for the last 5 years. I’m pretty frustrated too and feel like it hasn’t paid off yet as well.

[mvhoover]

I'm very interested in this thread. Following for sure. It's not that I expect some magical raise, but I will be the first person in my firm to get licensed in the last 7 years. All partners are retiring within the next 5 to 10 years. I am just wondering if it is worth it to stick it out for 5 years knowing that they do not give huge pay raises (People have told me that they essentially give at most $1.50 -$2 hourly raise per year) We do get overtime which is nice. Please share your experiences! I am hoping to be licensed by May.

[Icarito]

A good boss/manager should want all of their people to get promoted. The director of tax I work for is always telling each person what they need to show/do during that year and if we do it, we get promoted.

If it’s in the budget and justifiable, your boss should WANT you to get more money/promoted. It’s not like they are writing the paycheck from their own bank…

That said, a CPA license is more educational in nature. Especially in tax, CPA loses meaning very quickly past the senior role. Experience and expertise matter. If you are viewed as an expert in compliance, provisions/accounting, transfer pricing you are going to carve out a long and successful career, CPA or not.

[DocJ]

“they don't care that I got it, and they are not rewarding me for it”

Well I mean, did you ever get anything in writing? Did they offer to pay the test fees or lessons? Was there any kind of agreement at all?

It sucks and you deserve better, but never forget: Companies ALWAYS look out for #1, that being themselves and NEVER you. If they were able to squeeze work out of you before without the CPA license, you can damn well be sure they'll keep trying regardless of you getting all the education on the planet. In the end, nothing matters except how much they can squeeze out of you while paying the smallest amount possible. I've told the people at my job I'm working on it, and got all the “good for you” BS fake smiles as if they cared, and I fully expect nothing to change when I get it. Again, if they managed to keep you down before without it, they'll try to keep you down now even with it.

At least now you know for a fact that they're a toxic company that doesn't care. All the more reason to get another job ASAP.

[12tang]

Was a pay raise requested? If the answer is no, then you need to request it. Oftentimes we find ourselves knowing in our head why we deserve better, and we expect others to see why we deserve more as well. Take what you know to be true (your increase in market value via CPA), and bring that to the negotiation table. Employers are very reluctant to just give out raises, even when they know you exhibit excellence. We have one employee who is awesome at what he does, and I overheard one of the owners straight out say, “He's not complaining about his salary” after the other owner mentioned that he is slightly underpaid in comparison to other employees. Only you can develop of a strong basis of your value, and it's up to you on how you sell it. If your current employer doesn't buy it, then find one who will.

Using Becker self-study
FAR: (82) 175 hours - 1st attempt
BEC: (XX)
AUD: (69) 45hrs of study - 1st attempt
REG: (XX)

[mtaylo24]

Time to leave. I went through this back when I passed, and bounced about 10 months later for a 25% increase!

AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
REG - 55 (2/16) 69 (5/16) Retake(8/16)
BEC - 71(5/16) Retake (9/16)
FAR - (8/16)

[vbmer]

The CPA merely demonstrates a minimum baseline of knowledge for the accounting profession. It doesn't make you an expert in anything, nor does it entitle you to a raise. It just means you can now work as a professional. If opportunities do not exist at your current company, you can go look elsewhere.

[fsugirl2005]

If you don't have a ton of experience then the CPA license isn't worth much…at least initially. Get some busy seasons under your belt and run with it.

I work for myself so I don't worry about being promoted by anybody but my darn self..lol. I started off with my own bookkeeping business over 10 years ago and that's how I've made my living. I've made great contacts and once I get my license, I can make an easy $100K+ per year just specializing in the niche I have now.

Many companies do give promotions and raises withe CPA even if you don't have a lot of experience. Those are the companies you should stick with and get your foot in. With sites like Glassdoor and Indeed that share employee reviews, this can be a start in looking for a company.

Good luck.

AUD - 10/21/16 (75----07/2010 expired)
FAR - 10/28/16
BEC - 11/2016
REG - 01/2017

Using Gleim CPA Review, Ninja Audio, Ninja Book

[AusNat]

I think most of the value of a CPA lies in job opportunities, not raises in jobs that can (and are) being performed by non-CPAs. Getting your license didn't suddenly make you better at your current position. Even in public, most tax and audit associates are hired with the expectation that they will get their license, and there is often no raise for getting licensed (but most firms will stop you from advancing after a few years if you don't get it).

If you want a raise at your current firm, you will need to demonstrate how you can provide more value for them using your knowledge and abilities as a CPA. What new job responsibilities are you going to take on? Is there a more senior or different position you can either apply for or discuss as a goal with your superiors?

As for looking elsewhere… get serious about it if that's something you're considering. Look for positions that fit your experience with career-paths that you're looking for instead of getting hung up on what title you'll be brought in at.

[jombe]

Not sure what you were expecting. I haven't heard of any companies, including public firms, offering any significant raise after you get your CPA. The traditional route of bumping your pay goes something like this –
1) Start working at a public firm w/o your CPA
2) Get 2-3 years, at minimum, of experience under your belt and get your CPA.
3) After getting licensed, you either stay in public until you make manager (generally this is where you get the bump), or explore opportunities in private, which will get you ~20% bump.
–
Now if you were working in private to begin with at staff level, I would seek out opportunities outside of your current employer, since it sounds like you didn't work out any deal upfront regarding your licensure.
–
What CPA generally does for people is provide job security, open doors to opportunities & promotions that require such license and thereby provide bit more income than non-licensed accounting professionals (not counting those that open/run successful practices after getting their license). You definitely shouldn't be expecting any major fireworks at staff/senior level, but that's just my opinion, very much based on my personal experience.

FAR - 94 (10/4/15), Local Prep Online Lectures, BISK & NINJA MCQ
AUD - 99 (1/19/16), Local Prep Online Lectures, BISK & NINJA MCQ
REG - 96 (4/19/16), Local Prep Online Lectures, BISK & NINJA MCQ
BEC - 91 (7/19/16), Local Prep Online Lectures, BISK & NINJA MCQ

581 days of listening to lectures, reading texts & 10,000+ MCQs...

[jombe]

Let me share my salary history, so people don't get discouraged. I didn't mean to sound like CPA doesn't do much, but setting realistic expectation is important, so you don't get discouraged.
–
2010 : graduated from college w/ accounting degree
2011-12 : non-accounting / operational role in SOCAL – 34k – 40k
2013 : changed jobs, but still operational role in SOCAL – 42k
2014-15 : changed jobs, Bookkeeping duties in SOCAL – 50k
2016-18 : moved to CO, public/audit – 55k-64k, left after promotion to Sr & got my license soon after
2019 : Sr. Accountant / private – 75k w/ CPA license, still in CO
2020 : Same company, same role – 87k
–
This may seem great for some, but not so great for those who wants to get to six figures asap, but for me, I can say w/ confidence that getting my license has been worth it.

FAR - 94 (10/4/15), Local Prep Online Lectures, BISK & NINJA MCQ
AUD - 99 (1/19/16), Local Prep Online Lectures, BISK & NINJA MCQ
REG - 96 (4/19/16), Local Prep Online Lectures, BISK & NINJA MCQ
BEC - 91 (7/19/16), Local Prep Online Lectures, BISK & NINJA MCQ

581 days of listening to lectures, reading texts & 10,000+ MCQs...

[12tang]

There are many schools of thought on this as you can see. To me it's simple. You have a higher market value and you should be paid more than a non-cpa. I'm not saying that you should be paid a ton more but if your raise is the standard, your company is basically signaling to you that they don't value you as a CPA, since they are still paying you like a non-cpa. They have every right to do that, but I'd say if a company truly values you, and sees your commitment to the profession, then they should give you a better raise. If they won't, you have every right to find an employer who will value you properly. So let's say you get more certifications, are you going to be okay being paid like Joe Schmuck with no certifications? I personally will not work for a company that refuses to recognize my achievements beyond the average person. Do certifications make you an expert? No. But nonetheless, they do show value. The burden is not on your company to compensate you for your achievements, the burden is on you to find an employer who will!

Using Becker self-study
FAR: (82) 175 hours - 1st attempt
BEC: (XX)
AUD: (69) 45hrs of study - 1st attempt
REG: (XX)

[bigstakk]

A CPA only pays off instantly if you work for a large public accounting firm. They give bonuses when you pass and you can’t even make manager if you don’t have a CPA. In private you won’t see the benefits instantly, but for upper management roles like Director, Vice President or Accounting/Finance as well as CFO roles you will need your CPA. Being the you have an entry level title you’re just too far from the levels where it actually matters. You should focus hard on getting a senior title and then manager. Getting stuck at the staff accountant level is not good for your career. If your current employer is not willing to promote you then you need to leave ASAP and get a senior title elsewhere or go the public accounting route. I highly recommend getting some public experience. Almost all upper level management accounting roles require public experience in addition to private. For me getting my CPA is what I feel will give me the opportunity to get a CFO title since almost all of the job openings require a CPA or it is preferred. Keep your head up. You are young in your career and a CPA really doesn’t become a factor for about 5-6yrs and you are in year 3. Good luck!

[Lindsey_p87]

Alex, you are correct that getting a CPA license does not instantly get you insane benefits. I think some people can get the wrong idea because the CPA is often times over-inflated as the end-all, be-all of career/educational moves in Accounting. I'm assuming you are in industry? Many companies just don't care if you have a CPA in industry, sadly. I mean, really though, why would they? Like others have said, it doesn't automatically translate into an employee being better at his/her job, which is all they care about. I am in industry as well, and while I did get a small raise (8%) after I passed my exams, it was mostly because I had been around for over a year and had basically held the accounting dept together while people quit and we were severely understaffed. Point is, companies want to see demonstrated value in order to be motivated to keep you around, and just simply having a license doesn't prove anything, other than you can study and pass a few tests. Where it will help you tremendously is down the road, especially when you start to apply for Manager/exec-level positions. It will open the door to opportunities you wouldn't otherwise have without the CPA.

FAR - PASSED 11/14
AUD - TBD
BEC - TBD
REG - First take 2/16

[rahee]

The CPA can't replace experience. The license can't automatically put you from staff to senior, and experience alone can't automatically put you from senior to manager. You need both.

[Author]

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