[1dayatatime]

I keep reading online that new accounting graduates should be expecting an average salary of $53,000, but nearly every place I look offers less. I’ve seen job opportunities as low as $35k and as high as $50k. Obviously Big 4 pays more, but I feel that if you didn’t start off in their internship or leadership programs by sophomore year then it’s a lost cause. Is the whole idea “accountants are in high demand and get paid well” that was fed to us a myth? Job listings for general business degrees seem to offer more, and those majors don’t walk away with any discernible skills. Please give it to me straight.

AUD - Pass
REG - Pass
BEC - Pass
FAR - Pass

[ScarletKnightCPA]

I am a licensed CPA in NJ/NYC area and am pursuing my MBA with a dual concentration in Accounting and Finance.

I was never able to find a public accounting job even now with me lowering my expectations to mid-size firms and attempting to network at career fairs and through linkedin.

I did eventually land a private accounting/controllers job where I am at now.

Far: 76 (Wiley Test Bank)
Aud: 77 (Wiley Test Bank)
Reg: 61, 76 (Wiley book, Wiley Test Bank)
Bec: 86 (Wiley Test Bank)

MBA in progress

[tacctfin11]

I came out of college in May of 2010(depths of the recession)…had to start working as a bank teller, then three months later move to the accounting department. You have to start from the bottom and do not expect 55k. I thought I was going to come out making 60,000 however I was quickly awakened by my 7.50 an hour pay as a teller.

That is….unless you have connections that can hook you up….which I did not….

Austin TX

FAR- 76 01/08/2016 exp 08/04/2017
AUD- 82 04/14/2016
BEC- May 28th

baby

REG- TBD

[jm962011]

First job out of college, in 2012, at a software company in the Midwest I made $43k as a Tax Analyst. Jumped over to a health insurer doing tax work, $50k. Then to a manufacturer at $60k. This was over a 3 year period in total and I was “entry level” at all 3 places. These were all public companies. I guess tax pays a little bit better? If you're doing corporate income tax, you have to know GAAP and the tax rules. I had the 150 credits to sit for the CPA and was actively studying for the exams.. not too serious at first while at the software company.

Gosh, I miss the low cost of living the Midwest offers. Out in Boston, I am one level away from Senior at firm that is not big 4 but is bigger than regional.. think McGladrey or Grant Thornton, maybe even Crowe??.. making $63k in DOWNTOWN Boston.. the increase from the Midwest to Boston is not enough to make up for the cost of living increase. I have my CPA from one state but need to get licensed in Massachusetts after I get a year of public experience.

Did I just get lucky along the way with my salary? From these blogs, I feel like maybe I did but I have also felt I've been underpaid when compared to male counterparts, especially at the health insurer. I also moved from the Midwest to Boston to be with my boyfriend in January and was unemployed for 1 month before getting 2 solid offers with about 4 more serious interviews/waiting on offers in the pipeline. First time in my life I ever had more than one offer. So I guess I'm just not sure if people don't have the right skills or what. Back in the Midwest, I hopped around from job to job and it was a small community but I had a good rapport with everyone. Out here in Boston, I got all my jobs and interviews on my own. However, I used LinkedIn like CRAZY to reach out to the recruiters and hiring managers, DIRECTLY. I think honestly some people just don't use their resources… they throw their resume and cover letter into the black hole that is online job applications.

I'd also like to speak about how accountants are in such demand. I believe this is true. However, part of the issue is because the market fell apart between 2009-2011, CPA firms (which contribute to a lot of fresh graduate hiring) weren't hiring (or they initially gave offer letters but then the market crashed so they told those May graduates to keep their bonuses but not show up to work come September) thus hurting the accountant pool for CPA firms and corporate positions for the next 3 years. The sweet spot right now is an individual with 3-5 years of experience but because of the market, those people aren't available.

[ScarletKnightCPA]

Yes, strong network and connections is a huge help in this profession as well as most other jobs in general. Only professions that connections are less critical are in professions that have higher barriers to entry (doctor, dentist, pharmacist).

Far: 76 (Wiley Test Bank)
Aud: 77 (Wiley Test Bank)
Reg: 61, 76 (Wiley book, Wiley Test Bank)
Bec: 86 (Wiley Test Bank)

MBA in progress

[leglock]

@amohr, you must've trained at Miletich's. Amazing how a gym can go from producing the best fighters to closing down.

[TheHoundThatRides]

@jm

I think your whole job hopping approach was smart. A lot of people would have still been at the first $43k job at the end of three years. You can settle and complain or you can focus on getting experience and moving up.

BEC - 78 (August 2015)
FAR - 80 (November 2015)
AUD - 73, 67. (Ok I gotta confess I was even more lazy this time around)
REG - August 27th, 2016

[jessica8926]

To answer the original post I do agree it is more difficult to gain access to the Big 4 w/o an internship but is not impossible. I knew quite a few people who did internships elsewhere that still got job offers.

I would say your best chances of making $53K or higher to start is with a Big 4. Another thing is location. From reading a lot of these threads I feel I am making well above the average elsewhere as I work in Chicago. When I started in Big 4 it was at $57K. After two years I left the firm making $67K for a job where I now make $80K at a large global banking company. I think my salary jump was definitely attributable to the experience I got at the Big 4. I worked on a very large public client who had made its way through a few acquisitions during my time, so the experience I got was so valuable for me when I hit the job market.

I do not think it is a myth that accountants are in high demand. Unfortunately, companies know there are a lot of us and therefore won't pay as much as they should. Also, the smaller the company the harder it is for them to pay larger salaries. I think it all comes down to location if you are starting out. As you move further in your career experience combined with location will make or break your salary.

AUD - 69, 77
REG - 74, 81
FAR - 75!
BEC - 71, 82

IL candidate!

Finally done (5/24/16)!! Yahooooooo!

[Anonymous]

@ Leglock..yeah I was a fighter at miletichs from 2003 to 2008..I fought Myles Jury and Erik Koch coming up in shooto and KOTC..I lived with spencer fisher before he was in the UFC..we had a falling out which is why i stopped fighting..hes the one that trained me.

But yeah Pat gyms fell apart due to him outsourcing his accounting of all things..nobody was being billed each month for idk how long before it was finally caught..Then spencer and him got into a fight and he stole a bunch of his business and moved across the river hurting pay even more..

On top of that the recession hit in 07/08 and membership dropped off big time obviously..went from like 150 people a class to like 30 or so..(Non fighters)

To be honest I dont think Pat ever really wanted to be a trainer..his gym is still there but its conslidated inside a cross fit and i dont think he has anything to do with it really.

[Anonymous]

As far as barrier to entry goes for jobs..What Im finding is the hardest part is to get your foot in the door with Public…they all want 3-5 years experience..or so they say..

Then they look at your resume and say youre not qualified..yet they have demand for the position but do not want to hire someone that is not there PERFECT fit…so they stay understaffed..

Makes no sense to me..

I reached out to my uncle who just sold his Tax business and is going to let me work one day a week to gain some extra experience so that I can atleast have some talking points to go off of.

Even one year experience…in AUDIT or TAX with the CPA i think you will be in high demand…

Bookkeeping for 10 bucks an hour unless youre hard up for cash I think is a waste..but i could be wrong..I just dont see how working as a clerk will help a career along if you are a CPA.

[Biff-1955-Tannen]

Fisher had some quick hands

AUD 93 Jan 16
BEC 83 Feb 16
FAR 83 Apr 16
REG 84 May 16

99% Ninja MCQ only

[Anonymous]

While we're on the subject of salaries, what % increase per year would one typically expect?

[Anonymous]

Yeah whats funny is spencer when i met him was a fat boy..like 200 pounds plus at 5 ft 7..

he started getting serious when he was like 29 and got in better shape and lost it all..he hits really really really hard..

a light heavyweight in a 55 pound body..he taought me the flying knee and a bunch of cool stuff..hes a good trainer..just kind of a shitty person

[Anonymous]

I think all firms are different when it comes to raises and bonuses..

[Pete]

I agree with that internship comment. Get an internship and you're golden. Fail to get an internship, you're in deep trouble. I graduated in 2010. Interviewed at a bunch of places for internships (7 places, including B4), but partially due to the economic recession, I wasn't able to get any internships. Ever since graduating, i've been pretty much confined to book-keeping positions. Last year I was finally able to get a position paying near 50k/year. Oddly, i had multiple offers in December, the year before last, when I got that other decent offer. Mind you this is the NY area, so that 50k/year is relatively low.

I didn't even do that badly in college, getting a 3.4 (rounded GPA), which I guess is LOW for accounting. I've easily interviewed for 60+ positions over the years, getting 20+ second/third round interviews. Each time, i've been shot down by people with public accounting experience. Hopefully, passing the CPA exam, getting the 150 credit hours will help me a little bit, get into an entry level accounting position at a firm (was trying to avoid grad-school-BAD MOVE)?

This tale isn't just me. My friend had a similar experience to this one. Those starting/average salaries are GROSSLY misleading. Like others have stated, they entail those, who are actually in accounting, not book-keeping, etc.

The experience me and my friend had though are likely the outliers in everything.

B=84 This exam was such a b**** that I thought I failed-don't know how these things work
A=76 Slacker I am, I'll happily take it
R=81 I LOVE taxes
F=80 I don't wanna get banned for an expletive I'm thinking with "yea" proceeding it

[leglock]

@amohr. sounds like you were elite level and on the verge of the UFC, probably managed by Phyllis Lee or Monte Cox.

Funny you mention the accounting issues because I had a training partner from Moline who trained at Miletich's around 98-2000 when he went back home when school was out. Miletich did not charge him to train there. I think MIletich was trying to entice him to pursue fighting as he was an extremely gifted grappler, but he just wanted to train recreationally and pursue his education.

The Miletich story is actually a good lesson for all business students. Best fight team in the world, multiple world champions, gym full of students while not making any money (and not because of the costs).

[Author]

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