what is the average salary of a CPA?

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Gulzakar

Diamond Member
Oct 9, 1999
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I have a friend who got his 4 year degree in accounting...is just about to take his CPA exam.

He is 26, never really had a serious job....aside from working at a local bowling alley as a pin monkey...to my knowledge he's never had a real job.

He states that with his 4 year degree and being certified as a CPA, his starting salary will be in the 50's and within 3 years he could easily make a 6 figure salary....is this true?
 
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laurenlex

Platinum Member
Feb 26, 2004
2,370
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He will make so much money, he will no longer want to be your friend. Thank god you have ATOT
 
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CTrain

Diamond Member
Sep 26, 2001
4,940
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Your friend sounds like me except I'm a little older(32).
I have an accounting degree and I've never bother getting into my field.
I realized its a little late for me now with zero experience but I have a way.

My sister is an auditor with the government and they are always looking for accouting graduate even without experience. They are willing to train you but they start you off very low.
They do have a pay scale for every year and it pretty decent after 5 yrs.
My sister makes around $90K.

With your friend, I don't see how hes going to pass the CPA exam even if hes allow to take it.
 
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Orsorum

Lifer
Dec 26, 2001
27,631
5
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Big 4 with an MPAcc in Tax (what I'm going for) advertises starting at $58,500. My friends who are going into audit straight out of undergrad are making around $45,000, IIRC, working for one of the Big 4.

Good website: www.bls.gov; learn it, love it, when you're looking for jobs, at least. :)
 
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Triforceofcourage

Platinum Member
Feb 21, 2004
2,911
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Your friend is right, after a 4 year undergrad degree and then another year for your masters so you can take the CPA is around 50's
 
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HappyPuppy

Lifer
Apr 5, 2001
16,997
2
71
To become a CPA, in CA at least, I believe you have to serve some sort of apprenticeship after graduation. You don't just get your degree in accounting, take a test and become one.
 
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Orsorum

Lifer
Dec 26, 2001
27,631
5
81
Originally posted by: HappyPuppy
To become a CPA, in CA at least, I believe you have to serve some sort of apprenticeship after graduation. You don't just get your degree in accounting, take a test and become one.
Click to expand...

Same in WA, I believe a person needs at least 1 year, full time, as an apprentice or otherwise working under a CPA.
 
preslove

preslove

Lifer
Sep 10, 2003
16,754
64
91
Do CPA's work all year round, or do they just get really really busy around tax season?
 
J

Jumpem

Lifer
Sep 21, 2000
10,757
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All of the Accounting/CPA graduates I know at RIt are starting around $35k. My gf started at $37k.
 
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Orsorum

Lifer
Dec 26, 2001
27,631
5
81
Originally posted by: preslove
Do CPA's work all year round, or do they just get really really busy around tax season?
Click to expand...

Since I'm *such* the guru, it is my understanding that most every accountant gets really freaking busy around tax season, but that there tends to be stable work year round.
 
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FlyLice

Banned
Jan 19, 2005
1,680
1
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I am 22 I make $45K doing public accounting for a national accounting for (ranked #5 or 6 right below Big Four) in Los Angeles; this is my first year as an accountant. My company pays $55K in San Francisco and NY.
Pay raises are approx. 25% per year, assuming you are still there (you've lasted that long or you don't get fired)
2nd year salary is approx. $56K
By Fifth year should be Manager level and including bonus about $100K.
This is all assuming you get promoted a level each year.

Mind you this is PUBLIC ACCOUNTING. During busy season we work MINIMUM 55 hours (required) and can work 70 hours per week.

Turnover is extremely high and most people don't last 2-3 years.
 
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nageov3t

Lifer
Feb 18, 2004
42,808
83
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Originally posted by: preslove
Do CPA's work all year round, or do they just get really really busy around tax season?
Click to expand...

my best friend is a CPA... he works year round, but it's crazy busy around tax time and at the end of his company's fiscal year. the rest of the year, it's just like any other 9-5 office job.
 
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FlyLice

Banned
Jan 19, 2005
1,680
1
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Originally posted by: HappyPuppy
To become a CPA, in CA at least, I believe you have to serve some sort of apprenticeship after graduation. You don't just get your degree in accounting, take a test and become one.
Click to expand...

This is not true. Now you can receive a CPA without experience. However you do need a minimum number of hours of accounting in college, and pass the CPA exam. The license would not be active, however, without taking continuing education courses, even if you work for an accounting firm.
 
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FlyLice

Banned
Jan 19, 2005
1,680
1
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Originally posted by: Orsorum
Originally posted by: preslove
Do CPA's work all year round, or do they just get really really busy around tax season?
Click to expand...

Since I'm *such* the guru, it is my understanding that most every accountant gets really freaking busy around tax season, but that there tends to be stable work year round.
Click to expand...

This is inaccurate. Busy season for non-Tax accountants is January to March, where companies need to meet deadlines for filing their financial statements (if they are public). Busy season for Tax accountants is August to October, where they must meet the deadline for corporate tax returns (October 15?). Then there are the Tax accountants that file taxes for individuals, and I would assume their busy season is February to April 15.

Busy season for public accountants has started already. My hours this week have not been that bad (8-8), but i expect 8-10 plus Saturdays come the filing deadline (I'm on a public client).

It used to be so that after busy season it was literally dead, however, with the passing of the Sarbanes-Oxley act, we are now busy year round, except for busy season where it's busy times two. Damn you Enron, Worldcom, Bristol-Meyers, Rite Aid, Tyco, and the rest.

We shouldn't be complaining though. My friend, albeit he makes $55K + bonus to bring him over six figures his first year out of undergrad, works 100 hours a week as an investment banker.
 
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PoPPeR

Diamond Member
Oct 9, 2002
6,993
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Mays School of Business @ Texas A&M states that the average offer last year to their accounting graduates was 42k. I know those figures include a lot of people probably not working in texas, but still, 42k in texas = gold.
 
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FlyLice

Banned
Jan 19, 2005
1,680
1
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Originally posted by: Orsorum
Big 4 with an MPAcc in Tax (what I'm going for) advertises starting at $58,500. My friends who are going into audit straight out of undergrad are making around $45,000, IIRC, working for one of the Big 4.

Good website: www.bls.gov; learn it, love it, when you're looking for jobs, at least. :)
Click to expand...

BTW MAcc is worthless. MBT however is somewhat worth it.
 
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