[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

[sharebear003]

Yeah my professor brings up all the time that getting the CPA will boost your earnings over your lifetime but that doesn't happen without taking on significantly greater amount of responsibilities and getting higher positions. Like, they're not just gonna raise your salary all of a sudden because you got your CPA if you are a staff or senior. And I doubt you will see much improvement if you stay at that level for your whole career…

[Biff Tannen]

Reading these posts bummed me out. I’m one section away from passing all sections, and I was planning on walking into my bosses office the day I got my license and ask for a promotion. I will have to reconsider my options now. I may have to look for a different job to get a nice salary boost.

[vbmer]

@Biff Tannen, a more productive conversation could be to meet with your boss, let them know you just became a CPA, and discuss ways in which you can make bigger contributions to the company going forward. The $ will follow as you add more value.

[Lindsey_p87]

Agree with vbmer – @Biff – just solely having the license (IMO) is not a valid reason to get promoted, unless you are in public. I don't think you shouldn't ask for a promotion, but I would have other, demonstrable, reasons at the ready for why you deserve it.

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

[Biff Tannen]

@lindsey what if I have a job offer on hand that offers me more money? Could I use that to negotiate a promotion or will it bite me in the ass?

[Anthony]

Time to bounce. This can be said to any type of job. Generally, job hopping every few years > trying to climb the ladder in the same company.

Maybe OP should do us a favor and come back after he/she retires and then tell us whether or not it was worth it.

[Silent]

Unless your current employer told you that they will pay you more once you pass the exams, i would not expect that it will pay you off at the current company. You are not hired base on CPA and unless they have a need for one, there is no reason on why they should give you a big bump. If you want to get a nice bump, my suggestion is not start looking elsewhere. When you get hired base on your license the salary you will get will reflect the fact that you have your CPA license.

[DocJ]

“planning on walking into my bosses office the day I got my license and ask for a promotion”

LOL, no offense but if I was your boss, I'd laugh my arse off at you.

Yes, we gotta promote and recognize and acknowledge talent and success. Anyone who can beat this damn exam and get the CPA clearly has some smarts. But if I'm running my own business (like that'll ever happen), I'm not just about to hand promotions or raises because ooohh you passed some tests. Your contributions to my company matter WAY more than some personal achievements. If I just gave raises and promotions that easily, way more people would do it and I'd probably go bankrupt.

At least that's how virtually every boss out there thinks. They frankly don't give a @#$% if you got all the education in the planet. In fact, many are gonna think “crap this guy wants more money, might have to replace him.” Also, if you were willing to work in your department for $X before, why rock that boat? You were already a good fit where you are, what's in it for them to move you elsewhere where you're unproven outside of some education and go through the trouble of finding a less suitable candidate to replace you? Hell, tell your boss you're licensed and they'll prob think “good, you can take on more at your current job” instead of “oh I need to move you up.”

Promotions happen for those they're sure will give them what they want, not just by virtue of you saying “I'm smart.”

Don't get me wrong, it IS total BS that we go through all this work just for a boss to be meh. That's why the CPA really is better for job-hopping rather than staying where you are. The day you get your license, the ONLY thing you should do is update your resume and get job hunting.

[Jimmy Dugan]

What are you doing in your job now that you weren't doing before you got your CPA certificate? If the answer is nothing, why would you expect a substantial raise?

[Lindsey_p87]

@Biff – you could, but be fully prepared for them to not give a rat's a$$. If you have a legitimate offer that you actually want to take, it can't hurt to negotiate. Otherwise, I wouldn't risk even bringing it up. Honestly, if you actually want to stay where you are and you like the company, work, etc., why not just ask for the promotion and cite all the reasons why you are valuable to them? Surely you have more to bring to the table than just the CPA license.

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

[NYSCPA]

You talking about what? Bitching about some company that doesn't want to pay you for passing an exam? Raises are for closers only… Want your CPA to pay off? Specialize in tax, get some actual experience under your belt and start a side gig. Bill at $200-$300/hr. Build that side gig into a full time thing…. That's how a CPA license pays off. You can't play in the CPA game, go home and tell your wife your troubles.

[Club74]

There's a reason most job reqs are filled by CPAs. It's extremely difficult for recruiters to weed out resumes for initial screening cause they all look the same after reviewing hundreds. Having a CPA basically allows you to leapfrog most non-CPAs if experience is comparable. There are exceptions like inside connections/referrals but overall, you'll reap the benefits many times over in your career considering that you'll change jobs at some point. Last year during my 6 month job search I was runner up to a CPA who landed the job and was not even considered for another one because they had their eyes set on a CPA. A few of the interviewers even said “I thought we wanted a CPA for this job” right to me face. I thought to myself why the hell are you wasting my time then.

[Cobalt60]

What test do I need to pass to be CEO?

Getting a certification is part of the complex forward motion of your career. Work hard, contribute in a significant way, learn, become more proficient, mentor others, outperform, take on new challenges and on and on.

I always tracked my salary. I kept an excel chart with a linear regression of my annual pay points. I'm way cool like that. I just wanted to measure my own performance beyond the “hey your doing a great job today” kind of thing. Know where you are, where you are going and keep track of your progress.

I have occasionally stayed in a job too long because I liked what I was doing or liked my coworkers a lot. There is more to life than money, power and prestige. Not sure what that is, but there is something, maybe.

While I think it's unrealistic to expect a significant raise for the CPA it might be time for you to take a look at what other roles may adequately compensate your for your accomplishments. The CPA being one of many accomplishments.

[NoName]

A CPA license is like a capital investment. I did not expect any immediate monetary gain but longer term there will be a payback.

Also, there are no explicit guarantees for anything in life. Here are some reasons why I got my license.

1. To prove to myself and my family that I could do it.
2. I further solidify knowledge of accounting and finance topics during my studies.
3. To avoid being categorized or “lumped into a bucket” with people who have a non accounting background. For example, people who don't fully understand basic concepts like cash vs accrual accounting.
4. To avoid being exploited because you don't have flexibility or options. By having a CPA license you will have much more opportunity to move about.

[Author]

Replies