[TBBG]

I’m not trying to troll here, I’m asking honestly. Is the CPA really worth it? I’ve only worked in public advisory, and I only got the CPA to make manager. Outside of audit/tax partner, does the CPA really help your career? And if so, can it really be quantified? I just don’t see it.

Audit 86
BEC 75
FAR 82
REG 93

[Anonymous]

Also, even if you choose not to stay in the profession, chances are, your knowledge will help you be more successful in whatever you choose to do. I bet that the fried-pickle guy you mentioned runs a pretty successful business because he understands accounting. Too often, businesses fail way too late because they don't even know if they're making money. Just because you choose to go elsewhere, doesn't mean the knowledge and experience don't contribute to success there as well.

We should all be proud of the accomplishment…whether or not we continue as “accountants,” we all proved that we have a lot of heart!

[TBBG]

@Dewdewyah, If only having a lot of heart could get me a new 7 series bmw. 🙁

Audit 86
BEC 75
FAR 82
REG 93

[cpa1982]

In Public and Corporate Accounting/Finance world, CPA is valuable. It brings certain respect, credibility to your career. Main reason most don't make it to partner is because they don't have ability to be rainmaker. If you want to work in public accounting and become a partner, CPA and great salesman skill must.

As far as monetary value concerns, It depends on individual goals. I would say if you want to become multi millionare, start your own business. All the knowledge you gain working in accounting world, will help you tremondously. Afterall accounting is a language of business. CPA is not necessary to start a business, unless you want to open accounting firm.

[Jdn9201]

The CPA is what you make of it. I got my license this spring and its already been worth it for me. It opens doors that are much harder to open without it. I think people need to figure out why they want it and if they cant give a meaningful answer, they shouldnt do it. For me, I know i like what i do (corporate tax) and i may work for myself one day. No mattef what route I take it helps me. Another reason to figure out your why? Once you do it makes you much more motivated to put in the work it takes to get your CPA in the first place.

BEC - 88 8/29/15
REG - 82 11/14/15
AUD - 83 1/8/16
FAR - 80 2/29/16

[JAM]

My CFO is also the CFO at another company (he's extremely smart and accomplished).

When our company was first formed he only looked at CPA's as the Director of Accounting. Once that CPA moved into a new role he grabbed a stack of resumes and weeded it down to CPA's telling me, I'm only going to hire another CPA.

At least in one CFO's mind he only wants CPA's as his direct reports.

[Anonymous]

@tbbg – it got me my motorcycle…good enough for me!

[rlarivee01]

I'd say it's one of the better ROI investments out there. Technically you could do it for around $1,000 by just registering for tests and finding free resources (although that is far from likely). Then sacrifice some of your social life, and maybe cut down to part time work like I am.

It could mean the difference between starting out making 50k and 75k, and the difference likely goes up from there. Hypothetically, of course.

If you're able to commit to it, it's absolutely worth it.

[Anonymous]

Totally worth it. You get noticed so much faster, and people are willing to shell out more money to have you on their team. Plus, CPA's are in short supply right now and its only going to get worse according to AICPA, so it will really pay of long-term.

[neaux]

I spent only 5 months of my life without sacrifice and less than $1k (actually will gain with firm support/bonus) to attain CPA, after education of course. The CPA will allow me to advance past a senior position and open doors that are much harder to attain without a CPA. I’d say that it worth way more than the resources I put into it.

You have benefited from having the CPA by making manager. Would you have been happier at a senior position and salary? Really sounds like trolling.

[TBBG]

@neaux2135, If you looked at my responses to everyone here, you would know I wasn't trolling. And for the 4th time, outside of moving up in public accounting or making controller, I haven't heard of any success stories of people making real money as a result of the CPA.

Audit 86
BEC 75
FAR 82
REG 93

[cpa1982]

tbbg,

“making real money as a result of the CPA”

What is your definition of real money? It sounds like you have been disappointed with your salary progress even after getting CPA?

[TBBG]

@cpa1982, lawyer,banker, doctor money

Audit 86
BEC 75
FAR 82
REG 93

[cpa1982]

tbbg,

gotcha. It's possible to make that kinda money with CPA. CFO/Partner track is long. You would be better off staring your own NICHE practice. Keep in mind not every banker,lawyer become multi millionare. Most of them end up living upper middle class lifestyle. My cousin is doctor, after 10 years of studying and residency he is pulling $200k. I heard story of one CPA running his own practice, pulling $700K per year. If you want to become multi millionare, start your own business.

[Anonymous]

I think the finance route with CPA is likely to pay more than the typical private or public accounting track. If you can become an investment banker, you'll make bank, and CPA can at least be useful there (from what I've gathered). Tax law or specialized tax often benefits from CPA as well as something law-related, and is very well-compensated. The average lawyer earnings that I found online was $114k; I'd say that given how expensive law school is, the post-loan-payment-earnings for the first many years are probably better for CPAs than lawyers. Eventually, though, they have a better payout, and I'm not disputing that. I think accounting is the “safe” route for decent pay, relative comfort, and eventual retirement in relative comfort, but it's not the highest paying in that category. My sister's doctor husband probably will always make more money than me, but he's also been in debt about $500,000 or more. I'd rather get the lower reward (accounting pay) with the lower risk (not having a half million hanging over my head). Just a preference thing, but I like my preference haha.

P. S. Banker, non-investment, CPA would probably help with. I'm not sure they get paid as much as you think, though. 😐 Depending on what you mean by “banker” – bank branch manager, at least around here, makes less than accountants, and requires being a salesperson all the time (not my cuppa tea lol).

[TBBG]

banker = investment banker.

Audit 86
BEC 75
FAR 82
REG 93

[Author]

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