I tell my friends that the CPA will guarantee I’ll never make below a certain salary in accounting. My quesiton is what do you think that minimum is for the rest of my life? 60k? 55k?
There isn't a guarantee… There are plenty of unemployed and underemployed CPAs.
Another thing… If a first year accountant at a CPA firm gets his CPA, he's probably going to be making the same amount that he did before… Maybe he'll get a bonus; it depends on the firm. But I've seen starting salaries at CPA firms to be anywhere from 32k to 55k. Depends on the company, the location, etc.
CPA's generally earn fairly well. In and around nearly any metro area, in public accounting, most first year associates start off at least in the high 40s salary not including bonus/other comp. In Atlanta, total 1st yr comp at Big 4 is about 58k, perhaps 59-60k at regional or top 10 firms. Higher in larger cities.
CPA's in private (or what we call “industry”) which is a financial analyst/corporate accountant typically make much less, but sometimes can exceed the entry level salary depending on the company. For example, Kimberly Clark financial analyst starting salary is 57k, while Turner Broadcasting staff accountant starting salary is 44k (again, in the Atlanta area). Just to give you an idea, anyway. Hope this helps.
Most of it depends on your experience. I would not work for less than 90-96k. With 4-5 yrs of experience. You won't see that money in big 4 but in private cap you can make 120K + if you know what you are doing.
I agree that the range is huge and depends on so many factors. I also agree with @David that if you find the right spot, you should be making 100k+ in the first 5 years.
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