[Sticky Nicky]

is becoming a CPA really worth this effort? I mean im already here and Im gunna do it regardless just because ive committed the last 7 years to school, work, studying…but in NY is it really worth the salary you get? NY is crazy expensive…just looked at houses where property taxes were like 25-30K per year,,,at a salary of 80k wtf is left? cant even cloth or feed yourself let alone have kids,,NY nightmare

[HoosierCPA]

Absolutely, companies value it and that's basically what it comes down to. I've had a similar post in the past where I basically acknowledge that I know it's worth it but I don't know why it's such a gold standard–I said it doesn't prove a CPA knows anything more then a non-CPA. However, my tone has changed–I do think its a good standardized test that gives employers a gauge of who they are hiring before hand. While the test may not prove that you know the knowledge, lets face it we cram the info in our brain and dump the majority of the knowledge after the exam is over. It does prove that you put in the time and effort to work to accomplish a goal and those are traits that are valued by employers.

So yes its worth it–it will set you apart when it comes to getting management positions–or at the very least put you on an even playing field. Good luck on your journey. I hope one day I can have those 3 letters after my name!

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[Ag12thman]

IMO, it's probably worth MORE in NY than in other places. How many millions live in NY? You have to be able to set yourself apart.

FAR: July 2016

[JoeShow15]

Hello, I was currently just debating whether to take CMA or continue for the CPA…I have been trying to prepare for the CPA for almost 2 years now..Took 3 exams, failed all of them.

Where I work, the CMA is weighed similarly to the CPA…But I don't want to give up on the CPA exam, it's a goal of mine.

Anyone have thoughts on the CMA vs the CPA, especially since the CPA exam is becoming more difficult in 2017 ?

[HoosierCPA]

The CMA is a good goal. I have actually sat for the CMA twice before I decided to drop it and move to the CPA. Based on my experience the material applied much more to my actual job then the CPA–I work in manufacturing. The 1st part of the CMA is very similar to BEC.

I don't think the CMA is a bad idea but I tried to be honest with myself and with the kind of studying I was putting in I knew the CPA was the better route. CPA holds more value–people may try to argue otherwise but there is a reason why when you tell someone you are an accountant one of the popular responses you get is..”are you a CPA?”.

Having said that, any certification is better then no certification so if you see the CMA more attainable then go for it! The only thing I wouldn't recommend is doing nothing! Challenging yourself is a good thing even if you fail it's not a big deal just keep trying!

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[RE2PECT]

@Sticky Nicky- I live in one of the most expensive areas in NY and it's insane what houses go for by me. It's not even the price of the house sometimes, but the taxes that make them almost impossible to afford. I'm hoping that getting my CPA will give me more opportunities to provide for my family, but this whole process seems impossible sometimes.

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

[Spartans92]

It's definitely worth it imo. Not only can we introduce ourselves as CPA's to others (LOL). It makes us more marketable. Ive been asked a few times, what my job is and I reply an accountant. Some would ask am I a CPA..While others dont really know what CPA is. So it does offer some sense of fulfillment I guess.

BEC- PASS

[pharaoh]

I am CMA and I can't tell you how many times been to interviews and had to explain what a CMA is. However, there are some places and positions know what it is and have it as a requirement. The CPA is still the king though.

I remember one time, I was in-charge on an assignment and I had an intern who had two masters and CPA while I only had bachelor 🙂 and I thought he is going to be my senior in-charge with all of these degrees. Turned out, he only knew how to study and pass exams but was struggling big time to understand basics, at that point I said to myself what is the point of having CPA then if it doesn't add personal value.

Now after having reasonable years of experience, I can see how valuable the CPA is for “ME” and many times I feel that I should take the book and show it to my boss and tell him this is what segregation of duties supposed to be and what we are doing here is weak 🙂

My point is CPA + experience will definitely worth it on the long run.

FAR 8/2016
AUD 1/2017
REG TBD
BEC TBD

[Over_It]

The question you SHOULD be asking yourself is…is living in NY worth the ridiculous cost of living?

[Anonymous]

I am getting a vasectomy this year because I will never be able to have kids due to my enormous student loans. You can afford to live in NYC? I envy you. It was my dream to live there once. Now I might have to stay in Chicago(which I hate) or find a new city to love.

If I were in your position, I would definitely think it was worth it.

[Reverie]

If you plan on sticking in business, yes. CPA is the be all end all of business qualifications. As someone mentioned, it is King. Another person mentioned that it sets you apart for management jobs. Skip the MBA. Skip the CMA. Skip all the other stuff. Get the CPA. You're good wherever you go unless you decide to change your career path to an engineer or designer. lol.

[Anonymous]

I agree with @Over_It – the question should be “Is NY worth it”. You should be able to make more with a CPA than without one, so if you can't afford a home and kids with CPA then you probably can't even afford a home without CPA. But, if a $25-30k/yr in property taxes home is what you'll require, then you either need to change your standards or change your locality, or find some way to make substantially more money. Some CPAs make substantially more than $80k/yr (that honestly sounds like an early-in-career salary for NY, but I could be wrong, as I don't live there), so maybe your earnings prediction is just too low, but paying over 30% of your gross wages for property taxes is absurd. Especially when there's many other places to live – both within and outside NY – that cost less.

As an example of outside NY, where I live, I bought a 3 BR 2 BA house that listed for about $79k (and I got it for much less than that…). Property taxes are negligible…I think it was like $300 this year? I'm not making $80k here, cause wages are lower along with COL being lower, but I'm living fairly comfortably. Now, I don't want kids, so planning finances for kids isn't an issue for me; however, my autistic partner and I are able to live very comfortably on what I make, as a young CPA. Point is, there's some very very affordable options, outside NY.

And…I have to wonder if there's more affordable options within NY, too. Like, can you adjust your house standards and find something much more affordable in NY? Maybe not; some areas are just overpriced (a home I grew up in out in southern CA is now worth $750k – it was affordable for my family when we lived there long ago, but wouldn't be now!), but I've heard people quoting home prices not too long ago that would've been better than what you're speaking of above.

[Ryan – Just Another Dollar]

I can't really speak to New York, but my experience overall has shown the CPA to be very helpful in differentiating me from other job seekers. In my case, I am entering public accounting for the first time after graduating in 2014 and spending 2 years in industry. I became licensed in September and began networking and applying for jobs in my target city 1000 miles away. Within a couple weeks I'd had several promising phone interviews and just last week I accepted a great offer. The CPA bumped my starting salary to over that of a 2nd year associate even though I have no tax experience.

B - 88 (2/16)
A - 84 (4/16)
R - 73 (6/16), 82(7/16)
F - 67 (1/16), 84(4/16)

Ethics - 93

Roger course & Ninja MCQ - HiYa!

[Sticky Nicky]

thanks for the input guys,,,i just feel like its impossible to get ahead in NY,,,especially knowing that we (my gf and I) can take our savings and buy a mansion somewhere else for the same price you find a shithole here for..im also 33 and havent even started my career yet,,went back to school late 20s and graduated from Baruch in 2013,,,had legal issues from when i was younger 20s which I had to get a Certificate of Relief for…took 3 years for the judge to finallly sign in,,,signed up for NTS and apparently I'm good to go,,,but alot of time was wasted waiting for this dumb thing,,,now I'm working PT bookkeeping and studying for this test to hopefully show employers that I'm competent and committed..i make a pretty good hourly rate part time ($40/hour) but if it wasnt for my gf's salary I'd be living in Penn station banging on the bottom of garbage cans for a living. ha

[Anonymous]

CPA = worth it

NY = not worth it

[Author]

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