People Share Their Actual Accounting Salaries And The Results May Shock You
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- čas přidán 5. 03. 2022
- People are often shocked as they Learn how much Accountants make.
My best friend (to remain unnamed) always competed with me on how much money we both made.
Even though I know it's unhealthy, I participated in this weird contest for most of my adult life.
He is an engineer and I am a CPA
He basically made more money in our 1st 10 years. But we both noticed things shifting as I got my Controller title.
My friend still makes remarks like " I still don't know how a bean counter can make multiple six figures"
Anyway, I made this video to discuss some of the salaries posted in reddit by real users.
I do this because I want to motivate you and wake you up to the reality that Accountants are now not far from Doctors and Lawyers in salary.
Please keep in mind that money isn't everything. But it does help a lot.
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I don't understand why anyone with a degree would make under 50k a year.
I know it kills me when I am looking on job boards and I see employers that require a bachelors degree and are only paying like 35,000 a year. It’s such a mystery why that position is available.
People become desperate and take what they can get. It’s annoying, I was underpaid for yrs because I wanted my last job but I didn’t have the experience so I accepted a lower offer. It was $57k starting and went to 78k when I left. But I could be at 90k if they started me where I was suppose to be.
I make 90K a year. I don't have a degree of any kind and I'm only a high school graduate. I worked hard and learned on my own. Went from data entry clerk to pushing to get more responsibility and proving that I could learn and do it. God knows I hate school so I'm grateful to him for giving me this opportunity.
which country did you managed to make that in?
Likely those who are willing to share their salaries online tend to be the ones most proud of their pay. So here is some realistic data. I went straight into industry and as a Staff Accountant I I made 44k. A year later I was promoted to Staff Accountant II and made 53k. Then a year and a half later I was promoted to Senior and make 65k. No CPA yet, so there is a lot of room to grow once I put in the work. Also, my role is 40 hours a week, maybe 50 for a couple weeks during year end. If you're willing to do public accounting and endure the longer hours you should be able to expect to make a bit more than I did.
Yes!!!! You have just solidifed my point and view on my career path. Move around gain experience , accounting has so much areas and levels to explore. This is what I am currently searching for someone who can be a great mentor. Thank you for this video🙏🏽 it has made me glad.
I worked at a top ten CPA firm until senior staff on the tax side. I made about 70k after 4 years. Switched over to a bank as a senior accountant making 70 after 1.5 years promoted to controller making 95k. I also work in a small town.
Thanks for sharing Chris!
I'd be cool with that. I'll give up 200k just to have a chilled life. I'd also prefer small town as well
I am just starting at Deloitte and making 82k in tax -I don’t have my CPA yet
@@stacypeters2856 I think the pay is better now compared to 5 years ago.
Was this in 1998? That’s very low for so much experience
Great content I think this one is one of your best videos. I won’t be surprise if it breaks a million views. Thank you again
Wow, thank you brother!
I made over 200k working 2 jobs (non accounting) all while completing a MS in accounting. Just started my 1st accounting job at $30 an hour, lol.
What do you do
This was such a helpful video, thank you! You mention working in the city for a higher salary. I think that's a good point! I live in a rural area and I don't think the opportunities for an accountant making a higher salary is there.
Thanks for sharing!!
I graduated in 2017 and started my career as a Finance Coordinator in a struggling non-profit making 50k a year. I left after 3 years and now starting a Staff Accountant position at a growing private SaaS company for 62.5K. I was cursing my luck after graduating because I was struggling to find companies to hire me because my internships never paned out due to an illness in my family and having to be a caretaker. Working for a non-profit that could barely pay its bills was a complete nightmare but dealing with those turbulent times really impressed the Controller I interviewed with. Getting into the SaaS space just opened a huge door for me and I can't tell you how exciting that is.
Best of luck. I am sure you will do great things
I started as Finance Coordinator and making just 45K a years. Worked for 2 years and now I have started in new company as staff accountant. It feels like fresh air now. Good luck to you!!
I started in AP back in 2013 making 25k a year, while dropping my grocery store job making 45k. I had to start somewhere in order to get experience. Move around after 1-2 years in order to attain higher paying jobs. I'm now making 92k as a senior accountant in a pension fund. Have one last test left for my CPA and will look for jobs in the 120k range next. The jobs are out there. I'm 36 now. Don't give up and keep going.
Thanks for posting this interesting perspective!!! Big thumbs-up as always!
Thanks for watching and commenting Saul
Can you make a video going over when to hit different areas of accounting in your career? Specifically, to pave the way to becoming a controller or CFO. Ex. You should get exp. In tax and audit while in public and the rest in industry. What environments are the best teachers to learn different types of accounting?
Thanks for this in terms of breaking down the proper way to job hop.
BS and MS in Accounting, 22 years of experience including 7 years as a manager, now I work as Sr Analyst for fortune 100 company; my salary - well my wife with associate degree in nursing, RN license, and less than 2 year experience makes more money than I.
Really been enjoying your videos. Question for you. It sounds like you started in public accounting and then obtained your CPA license after five years of experience. Did you move into industry as soon as you obtained your CPA license or did you stay in public for a bit?
I moved to industry first then I took the exams.
Not sure if you know this, but the example you used is based in Canada. Accounting pays far lower in Canada than it does in the US. In 2019 my starting pay at Deloitte was $42k and was bumped to $48k into my second year. I left shortly after
This must vary be area. Here (medium COL area), entry level industry level accounting is about $40 to $50K. Senior level is $60 to $80. Manager is $80 to $100. Also depends on industry. Tech and manufacturing is usually higher.
Bill, love your videos!
Do you think those who go into industry right out of college (as staff accountant) can achieve the same level of career/salary growth without the public accounting experience?
I’m my opinion it depends on your ability to move up in the company with industry. If you go to a company with a small accounting department it may be harder to increase your salary.
the Principals/Directors at my firm apparently make between $400,000-600,000 per year. Audit associates around 70k per year and managers make in the six figures. It's not a big four firm but pretty big like within the top 15 largest in the USA.
Hi bill, great video! It gives me hope. I am currently studying for the CPA and lacking the motivation. I start at a big four firm later this year in audit. My salary is honestly pretty depressing, I won’t make enough to move out of my parents house. I went to a target school in the Midwest and thought PA was prestigious. I’m kinda let down and feel like a loser. I’m 22
Jacob stick with it brother and I can assure you money will follow once build a 3-5 year experience
You're in great position in my opinion... I was in the Army from 17 to 24 years old. I graduated at 27 and worked in Grant Thornton as an auditor from 27 to 29. I opened a restaurant from 30 to 32 (now) and I am looking to go back into the corporate world aiming for 85-95k salary considering my corporate break.
Keep your head up. You're very young and have a whole 10 years ahead of me. Save your money, invest smart, and have side hustles.
@@GaryHwang Gary, thank you for your service & your words of encouragement. Congratulations on starting your own personal business venture. Good luck with landing another corporate role. The job market is really hot at the moment. I am confident that you could land a position for that amount considering your experience as an auditor especially if you have your CPA!
If I ever visit Rockville, I'll stop by your Gyuzo Japanese BBQ
Dude you’re fucking balling in comparison to most. Already a top 4 firm?! Bro ur gonna be a future cfo pedal to the metal empty the fucking tank and go do it. Be that parents that your kids can brag to others about having rich parents. Dude you’re literally on track for that, if you keep working with this base you already have you will be a millionaire before 35.
What’s your salary?
Would love an updated video that considers the Accouting shortage every media keeps yelling about
Thank you! I’m being reminded of what’s the future great opportunity I can have after graduating for my BS degree.
Hello, Thank you so much for your videos so inspiring and educational.
I make $16 p/h as a part-time bookkeeper. I have 20 years of experience, MBA(14) in accounting and Masters (12) in liberal art. I am 65 years old and just want to stay busy. I have made as much as $105k annually.
Thanks for adding your info here to help the viewers 🙏
Hi Bill, Thank you so much for all your informative videos. I have learned so much from you!
I retuned to school late in my life and
I would like to hear your thoughts- I’m considering to pursue a masters in accounting. I’m currently in my senior year of college pursuing a BS in accounting. I’m in my 40s and would like to know which option will help me to get a better job - the CPA license or the masters. I am also working as jr. Accountant at a nonprofit.
Thank you in advance for your advice!
Hi Karla, I would prioritize the CPA over the Masters (unless a MS is required in your state for a CPA). But before we discuss the CPA, I'd like to see you get more progressive in taking on more senior tasks at work (I'd move jobs if I have to). Real world experience is better than any Master in the end when I am hiring.
@The Financial Controller thank you for this response. I am in a similar situation as her and wanted to know the next steps I should take. Thank you for taking the time to make these videos. They are very helpful!!!
Just get your CPA exam done. You have to have 150 credits though. In my experience, nobody cares at all about your degrees after you have a CPA exam. The masters looks nice on a resume, but practically it’s useless. The classes are a joke. You just need the credits for the cpa exam and a masters of accounting is 30 credits so why not get it, but focus on the CPA exam.
Thank you for all this information. I just want too spend more time at home with my kids.
My job is pretty glamorous lol and I’m a CPA. I’d say what I do but I don’t want that out there. You can literally go into any industry that you want if you have accounting/finance skills (anytime there’s money involved, accounting is involved), the job is actually fun when you are competent, and the money is great and gets better if you know how to play the game
Haha good to hear and thanks for adding this context. I also like to introduce myself as CPA
how do you play the game? What is the game?
I'm currently about to start college for accounting, so I'm trying to learn as much as I can now
@@oddabandon CZcams is a decent resource, but I think trying to find those successful people as mentors is good. From what I understand as a student it's get into a large firm and do public accounting for a few years, get CPA, then do industry or w/e you want and do another job every few years. Better yet, do all that but specialize into something. I think learning to use script programming to automate processes, go into international, etc. because I have read multiple times that it's particularly high pay. I don't know just my readings.
Love your content, I went to Queens College too!! I know you mentioned discord somewhere but not sure if you still have it accessible. Currently going back to QC for masters for the 150 credit requirement for CPA.
Hey Dan. Nice to meet you. Yeah discord is available only on my patreon page (paid membership)
Thank you so much for this video! I wasn't sure Accountants make good money but now I know they do honey!!!!
I have 5 years of accounts receivable experience but no college degreee, do you have any advice for what my next step should be?
Hi, I just graduated with CGPA less than 3. Thinking of pursuing caanz straight away, but I’m quite worried with my basics. Any tips and advice to strengthen my accounting basics and doing caanz simultaneously?
Im a junior accountant still studying but working full time and I started on 39k a year and now on 45k a year. Until you get a CA qualification you don’t make much money which sucks but the experience is why I’m mainly there
Bro I am also a student studying Accounting Sciences- CA stream first year. see you at the top BUD.
Hi, Bill. I enjoy your videos and find them very educational, considering I am only a Freshman in college. Not sure if you've already made a video on this, but what jobs would you recommend to someone who is just starting college and majoring in accounting? I want to make sure I have a good resume before I finish my bachelors, in order to increase my chances of getting hired at a big 4.
Hey Emily. I would register with the career office at your college and check their listings. It would be best to start at a small public accounting firm as opposed to a company. But honestly you cannot be super picky since you are just starting out. I did a ‘benefit audit’ gig during college, nothing to do with the big 4 role a landed out of college, but at least showed I did some professional somewhat related work.
Thank you !
Hey Emily - just in my experience, you don’t want to work at a big 4. They will burn you out asap and probably give you a bad taste of accounting work. Try to intern with a firm that has around 50-150 employees your junior and senior year (mid level firms are always looking for college kids to intern). Get an internship or two before finish your bachelors - 99% chance the firm you intern with will offer you a full time role before you finish school (my experience). Likely around 55-65k.
Basically with what the job market looks like now, you can stick at a firm for 2 years, move to a new firm for a 20% increase and title change, rinse and repeat every couple of years. Mid level and smaller Firms are desperately hiring in tax and overpaying for it. There is a serious lack of tax accountants. Advancement is simple at 50-150 employee firms when you have your cpa exam done. I’m at 80k at 24 with no cpa exam, just a masters and a few years of experience. CPA exam puts you over 100k with 5 years of experience, just don’t be afraid to switch jobs and know your worth. Don’t accept roles that want you to bill and collect over 3x your salary. If they want you to do that, you’re being underpaid.
Interesting & so useful video♥️🔥
Fantastic video! What accounting job would you recommend to a guy who wants to start a solid career? Audit?
Yes
2016-2018 AP Specialist $40k (construction manufacturing)
2018-2019 AP Manager $50k (construction manufacturing)
2019-2022 Sr Accountant $72k (e-commerce co)
20022-current Sr Accountant $107k
(firm)
Hero!
Do you recommend any types of software to start a CPA practice? training ? certification ?
thank you!
Quickbooks Online, Netsuite, and Xero are the most popular in client service.
Hi! I am from Dominican Republic and I regularly watch your videos, they are pretty good and informative. I have a question, is there a CPA certification that is recognized internationally, to allow you to work for example in the USA or Canada or do I have to take a country’s specific CPA certification? And another question is, exequaturs from Latin American countries , has validity in the US or Canada? Thank you so much
I can answer that question for you. The USA CPA license is a state baord license. That means that the states grant the license. For instance, a NY CPA cannot practice as a CPA in Florida. In order to Pratice in Florida that NY CPA will need to get license in Florida which it is pretty much register in the state of Florida as a CPA and pay the fees. If you are looking for an international accounting certifiction the CMA is one.
For your question regarding to the exequaturs, as long as you have work experience in accounting you can be hired by US Companies. I usually recommend to convalidate people's degree and then get a Master in accounting or MBA with a concentration in accounting if they want tosl sit for the US CPA exam. Hope this help you
@@albertrodriguez2712 Thank you so much Albert for the information! Yes, it helped me a lot, I will look for the CMA certification and look for any master related to finance or accounting
@@samuelsuarez8304 you are welcome! Just a FYI if you are already live in the USA. If you have work experience and can validate your degree should be enough to get a decent Job in accounting. If you live in DR, try to work for a multinational company with operations in the USA or Canada and see from there.
Acca
Great video and motivating.4-6years with 70k in big 4 is true, in some country.
I was told 70k after 2 years B4 is kinda the standard. I'd rather make 55k and work 40 hours a week than 70k, but nowadays 70k is like a good minimum for a comfortable life with some degree of financial freedom - this is in the average, or really median, American market .
I make 68k as a new hire at B4 audit in a big metro area in the US.
@@robreich6881 Thanks for sharing and congrats! It's amazing how much things have changed. Finally the compensation caught up to the demand. Every market is different too as you know. Some are scaling down, others can't find enough candidates. The job market is hot but full remote work is gone almost across the board, not just PA.
This changed within the last few months, mainly because PA and every organization has been struggling to find accountants. MCOL 68k sounds within the range. If you're in a HCOL or VHCOL area that is a little rough for A1. But if you're happy with what you've got going, that's all that matters. Best of luck to you in your career!
@@robreich6881 If it helps, industry in a MCOL metro area pays about 60-75k for staff accountant roles for fresh grads without a CPA license. Mid 60s probably being the average. Hybrid or in office full time is the norm. There are companies who don't have good internal recruiting practices such as being way out of the market range in their job offerings. But it's just like seeing a gas station across the street that's charging like 50cents more a gallon. They're just not with it.
So in general it seems like B4 has adjusted to make their path more attractive to the talent that everyone is scooping up as fast as they can.
Cpa firms needs to raise their fees 20-30% and redirect this money to staff, senior and managers. There just aren’t enough accountants because why why anyone want to slave for their partners making 300-600k a year when they are only paying you 60k?
you slva eso one day you can be aq partner or open your own firm
If they could raise it, last thing they would do is redirect it ha ha
Sorry Bill, but for me the profession of accountant is very glamorous..
A real good accountant is a gentleman who has an excellent education, behaves and speaks well
and has a great understanding of how business in the company and in the public sector is carried out at the level of money
and legal regulations. everything regulated .
When you see an accountant, you see a real educated gentleman full of knowledge in front of you.
For me, that's the concept of glamor!
:)
Fair enough, I can’t argue with that :)
Hi I'm currently interested a programme launched by pwc earn while you learn and they giving two option one is in tax and another one is in assurance....could you help me to give a deep insight and which is better option if I want to earn more money
Graduated with BSBA in 2015, concentration in Accounting. Went into Mortgages for 2yrs, then into personal finance for about 1.5 yrs, then a hard turn into digital printing for about 2yrs, with a little gaps in between. How hard do you think it will be to get into entry level accounting field?
Since no one answered I will and I hope it's still relevant: You only really have one way to find out. If you can tie your past experiences and the skills you developed with the biggest demands of the job (precision, time-management, communication) during the interview I see no reason they wouldn't want to hire you. I got hired being a finance major with 6mo of work experience in marketing at a software company. I was able to link my deadline-based work with what will be expected of me, and I received an offer from a top 10 firm. Every job you don't apply to is by definition out of reach. Prepare well but apply, apply, apply! Try your luck, and if it doesn't go your way don't feel shy to ask why and how you could do better for future interviews/applications. Good luck!
@@kroups8413 thanks for this . I’m in HR, and I’m about to hop into accounting .
Hi, I have seen many of your videos recently and I like them so much. BTW, I'm subscribed. Could you please talk about the agreement between the US, Canada, and Mexico, related to the recognition of the CPA in all of those countries?
I don't know if you know what I'm talking about, but there is an agreement that says that if you are a CPA (in Mexico's case is CPC) in any of those countries, the other two countries recognize the CPA status. This is thanks to the USMCA and different institutions like the American Institute of Certified Public Accountants, the Instituto de Contadores Publicos de México, and the Canadian equivalent.
And most important, have you had any experience with Certified foreign accountants?
Thank you!
Hi I will surely look into it
Do we need to considered the city and state in US ? The cost of living is more expensive in NY than FL. How much can an Accounting manager with more than 10 years make ?
Yes need to consider the location. Though I will say remote work is possible more than ever and you can live in FL and get an NYC job. $100-$130k
Thank you very much for this video. I found this video because I had a sneaky suspicion I could be making a lot more money. I have a master's, CPA license and almost 10 years of XP and I'm making just short of 60k. I need to do better.
Update to my previous comment: I gradually looked for a change and found one. I received a 50% pay increase!
Is there a significant difference in salary between audit and tax?
1st yr: 53k @ audit associate
2nd yr: 55k @ audit associate ii
3rd yr: 62k then mid yr bump 67k senior auditor
4th yr: 83k senior accountant public company
5th yr: 95k accounting manager public company
6th yr: (2021!!) 130k gross income, audit contract 116k senior auditor for midsize firm working 10 months out of the year and remaining 14k from bookkeeping and tax clients on my own
7th year: ….. in progress but projecting 140k (senior audit contractor plus side practice)
No cpa…. Working on it lol 😊
Nice job!
Is there any opportunities to work with you. I really like to work in accounting.
2019 = $83k salary senior accountant for SEC filing corporation
2020 = $95k salary accounting manager for SEC filing corporation
2021/2022 = experienced auditor contractor average at $60 to $75 per hour
I’m 40 and been a welder and an inspector welding and use expensive equipment, but I am thinking of going back to school and become an accountant. Do you guys think at 49 it’s a good age to switch into accounting, I am also bilingual.
I am a controller at a private company and make $175 k base plus bonuses and benefits. I also have a side tax advisory practice that I clear approx $125k.
You are killing it! Nice job
Hi Bill, awesome video. Question: Are there any accounting roles that pay six figures that are strictly remote?
Yes. From senior accountant and up
I’m in a basically remote only role for tax accounting (in the office once a week during tax season, none the rest of the year). I’m in year 3 of tax - senior tax associate with a masters and a couple parts of the cpa exam passed (just finished my masters in December). Im at 80k. 100k after the cpa exam is done. I went through the job interview process again in December when I switched firms - three firms I interviewed with didn’t even have an office. All remote. There are lots of virtual firms now and they pay well! Don’t be afraid to switch jobs every couple of years to get the pay raises you deserve if your current firm won’t do it- lots of stagnant wages in this industry when you stay at a firm and tons of open positions that will overpay out of the gate.
1st yr: 55k @ staff tax accountant
2nd yr: 58k @ staff tax accountant
3rd yr: 62k @ staff accountant
4th yr: 70k @ revenue accountant
5th yr: 105k @ senior revenue accountant
Three different employers in that span, last two in tech, no cpa.
Thanks for sharing this info! Great progression especially the jump from 70k to 105k!!
Tech = high return BUT high risk. I think we've all learned that during the current two years ;-)
Hey, @financialcontroller - do you have tips on how to work with an incompetent manager? Sometimes I feel like I am doing my manager's job and he has neither the accounting nor management skills. He is basically Michael Scott and my manager got the job because of his 25 years of experience on his resume. The only thing he knows is probably how to talk crap (again, just like Michael). I really really want to get rid of him and his salary could probably be mine.
GTA means "Greater Toronto area", some of these Reddit posts are likely denominated in Canadian dollars just FYI
Thanks for letting me know brother
I graduated Dec 2020 and did not have any accounting job experience and was also working full time during school with a 4 year old and carrying my second child. Now I have been working as A/R and A/P for about a year. But I am only making close to 40k a year. How do I go about getting into the higher bracket and further my career? I am currently looking into getting my CPA license.
The best thing you can do for your self is to network, network and network. Making good connections is just as important as having the right credentials. With that being said, get your CPA because that will really make you more credible. One thing you need to understand is that high paying accounting/finance position are filled by very well rounded individuals, so it is not just about your technical accounting knowledge but your soft skills as well. I hope this helps, best of luck!
I agree with Shaharyar. But also I would say try to get a staff accountant or senior accountant role (wider scope than ap ar) and choose your manager carefully, as you want someone who will mentor you
CPA license and hunt the job market. Your firm is not going to give you a 50k raise but another firm will pay you 75-100 with a cpa license. Find a small firm with a manager who you can learn from for a few years and go from there. Don’t be afraid to switch roles every few years with how the job market is - that’s how you get the biggest pay raises.
I work as acca member for 2 years as my job role was accountant in Canada now completed cpa designation. So what will be the starting salary any guesses how much I can earn??
Hello sir I'm learning acca courses so what do you think about this . I mean is the learning acca good way to become accountant ?
Yes, definitely
Hii Biil, i am from India and recently I am awarded CFA access scholarship, give me some suggestions about my career uppertunity in USA what should I do along with cfa ?
DB plan is deferred benefits plan. Good for him to have government pension at $125k.
Thanks Jiaqi
Hi Bill, is there anyway we can submit our resumes for your review? I would like to know what a successful candidate's resume in accounting looks like.
I’ve seen tons of resumes as I helped do hiring at my last firm - basically just get an internship if you’re in undergrad and go work asap after finishing your degree (or be at a firm while you’re in college - I did that). The #1 thing people look for on a resume in the accounting world is similar experience - if you have none, look for an entry level role and put a little summary on the top of your resume about how you’re looking to build your experience and get started in the industry. Somebody WILL hire you, there’s a desperate need for accountants. Throw out tons of applications, I promise a few will call you back if it’s entry level. It’s a grind, but after a couple of years of experience your options are wide open - so many open roles in accounting right now.
Im ACCA qualified with 3 years post qualified experience andnthe highest salary i got was £40k and im 30 yr old female in the UK and im unemployed. I struggle getting jobs that pay £55k + also, the workload makes me anxious the higher the salary
So mad my friend working in consulting is making more than me and I had to go to school for an extra year and pass CPA
Should I ask in the interview if they have a mentor program?
I am accounting manager in Vietnam. I am 30. But my salary is only $1000 per monthly. How I can increase my income ?
DB = Defined Benefit (government pension) 😃
GTA = Geographical Target area
Love the channel!
I liked Grand Theft Auto better, lol. Thanks for watching
I think GTA refers to Greater Toronto Area! The home prices are crazy!
I’m about to graduate w my associates in accounting and I’m having major imposter syndrome is this normal I’m scared to intern this term as I feel like I’m not educated enough.. any experience on accounting internship tasks and duties and how to not feel like an impostor
I actually suffered from the imposter syndrome 5 years well into my career but then it started to gradually feel better over time
@@TheFinancialController thank you ! I’m glad to know it will gradually feel more genuine 🙏
Hi Bill, just came across your channel and its great.
I have a BS in accounting and spent my first 3 years working in Industry making $39K and then $50K before I left
I'm now the only accountant at a small company on track to hit 8 figures this year, but I'm making $60k
Do you think there's more opportunity to stick with a growing company (Inc.5000 fastest growing company) or try my luck in Public accounting?
Also, I just turned 30 so would it be difficult to get into a big 4?
Not difficult to get into big 4 in your case. I don’t know. I am on the fence. I think going back to big 4 will be better but a harder life. If you are willing, then do it
Chief accountant gets the same salary as the boss. If he/she gets less, there will be cheating behind bosses back. Chief accountant also got to go to jail if boss goes. So, kinda risky. Choose company wisely.
Why does the chief acc go to jail?
What industry are you in where people are (1) regularly going to jail and (2) going to jail as the company's top accountant?
How did you balance getting a CPA while working so much? Did you study as soon as possible or later?
It was hard but I kept thinking about what I provide for my family as motivation
@@TheFinancialController it’s a great way of looking at at, thanks for your time. I’m also a CPA but at a smaller firm so I figured I had more time to study.
Excellent video. I work at a CPA firm and make 15 an hour as a staff accountant. My only other experience in finances is six months at a financial advising firm. I’ve only got six classes left on my bachelors in accounting and I plan on getting my CPA eventually I’ve been at my current CPA firm for six months without a raise or any benefits, when should I ask for a raise?
15 is crazy low. Where do you live?
@@miguelfragoso7023 Texas
8 months now no talk of raise
Hey, I am from India and right now working at Central Africa location. Do you have any reference or job portal for searching job in USA.
I just turned 40, I have been at my AP job in private industry for 6 years and being paid on the higher end of an entry-level salary. I am also a part time CUNY student with an Associates in Accounting on track to get my Bachelor's in 2024. Given my age and the fact I still do not have my Bachelor's yet; should I try to transition to an AR position or try to get a Junior Accountant role? Also once I get my Bachelor's should I still try to go into public industry as an Auditor or a Staff Accountant; or stay in private industry and go for a Staff Accountant position?
I like that you’re getting a bachelors degree. I prefer the junior accountant for now over accounts receivable because it will expose you tomorrow areas in Accounting. After getting your bachelors you will do well either in public or private, it will be a matter of you just pushing yourself to learn more on the job. I slightly prefer the public accountant route, but not a strong preference
I am an accountant also, you need to move away from the AP, it is time to learn new tasks like G/L Accountant or Staff Accountant for experience exposure. Good luck.
Im also not that young but I am getting inspired with what is waiting for me in the future. Was wondering how can I grow at a faster rate.
What does it mean to move to industry like is that the same as becoming a private accountant?
Moving from a public accounting firm to working in an accounting team for a company (whether public or private company)
Interesting!👏🏾
Thanks Mani
Hi Sir, what do you think about them saying that the accounting will be replace by AI in the future? Do you think its still valuable to pursue the field? Currenlty im am thinking about pursuing or not. Many thanks!!! 🙂
AI will augment our jobs in accounting, but not replace it. It's actually making it more enjoyable as we focus on the human element which is analysis and negotiation
I always think about this too Anne! But I do strongly agree with his reply. I think there is too much human involvement throughout the month, in a professional accounting environment, that AI can’t possibly mimic. I’ve been in the industry for 6 years and as much as us accountants LOVE to automate things, you can’t automate the entire process. Way too many factors and elements beyond the numbers.
@@TheFinancialController thanks !!
@@chipperknick010 thankss!! Appreciate your respond!
Reddit is totally a legit place where people wont exaggerate their salaries
Is working at a big 4 overrated? Is it true that you get better exit opportunities and it adds value to you as a professional?
Not overrated and actually very valuable
Hey Guys! I am from Europe and I have a question out of a 100k annual salary how much is the net income?
Net is about 75k
Hello Bill. I want to reach to a senior accounting position in 2, 3 years. I just finished with my undergraduate degree in accounting and might start off in payroll accounting. How do you think I must progress from there to meet my goals? As in what position to take next?
You will need to take a Senior Accountant role within General Ledger (try not to stay too long in a specialized fields such as payroll accounting)
@@TheFinancialController so which job must I take after the payroll accounting? I don't understand the second part of your statement meaning should I go for accounting assistant after payroll? Thanks
Hi bill how do you see the scope of economist
Don't forget to talk about remote work. Which is an option in accounting
I assume when you say ‘50/60k is entry level’ you are referring to post CPA entry level not at the start of a graduate scheme/training contract where the salaries are very low for the first three years?
No actually I meant 50/60k straight out of a 4 year degree
I started at $53k back in 2016 straight out of college. Audit associate for mid-size firm I’m Atlanta
The r/uWaterloo post was likely referring to Canadian salaries, which are significantly lower than the American salaries.
Even in midwest where I was seems that is standard, even lowest paying ones.
I just started my career as associate at a public accounting firm(mid-size firm). Supposedly the firm would give me $70k but they changed the offer to $65k after I signed the first offer letter.
Is this right?
Since I just started my career in a public accounting, I would use this as my experience and learning curve. Then maybe after 2 yrs or less, I would start moving out of public accounting so I can start studying for CPA exam. There is no way I can study while working at Public accounting. Thanks for sharing this valuable insight.
the lowered offer letter seems like a strange move on their end. But I guess just learn as much as you can then move on after a couple of years
I'm a business analyst right out of college, and they have given me 65k. I think this range is common for new grads, and the higher ones are less common than the internet has people believing.
@@emilyau8023maybe but it might also depend on where you live and level of education . I got offered a 80 k with up to a 10% yearly bonus as a business intelligence analyst straight after grad school .
I work at at PE fund doing accounting (4YE) HCOL. Compensation is 105k base with 25k bonus.
Thanks for contributing with a comment! Sounds pretty decent!
Hii im from india and i working as Accountant since last 1 year 📍
i m a fresher and my sallary is 180 omr in oman and 467 in dollar 📍
Hello, 28 going back to school to major in accounting and minor in computer science. No prior experience but looking to move towards the corporate world. I wil be around 32 with I graduate. I am curious if big 4 will be an option.. I am just looking for the experience. Ultimately, looking to start and develop accounting and web development skills so I can pursue entrepreneurial endeavors down the line.
Big 4 is an option, they hire interns and staff at all ages. They are looking for hard workers and curious minds.
Can a UK ICAEW Chartered Accountant work / find work in the US or would the qualification not be recognised or valued?
US GAAP is really different. Suggest you get a crash course on US GAAP.
Every comment you made is on point and spot on . There’s no doubt that it can be a great profession and there’s no other that provides such an opportunity to travel the world on an expatriate deal posting. However, there is no ‘ work life balance’ while you are also having to study for licensing. Secondly, there comes a time, when you stop what you’re doing for a few seconds and realise that all you have done with your life is to sit on you butt, staring at a screen full of excel spreadsheets. Then you think to yourself, if only : ‘ if only I’d played NFL or NBA better at 12, I could be earning $100,000,000 for 3 years ,for throwing a ball about ,without having to complete a high school diploma.And having a great time. If only: “ if only I had learned to perfect my boxing techniques and become Floyd Maywether” $400 million for 1 fight per year and 4 months of training ( which I enjoy).
if only I won the lottery............
After 20 years with an accounting degree I can say any other major is probably better for stability and overall income. It works out for some.
Crazy, I thought accounting would provide more stability… Going back to school do you think accounting or management information systems degree would be more valuable degree for this job market?
Sir it is right to start acca after 12.
I decided to go back to school and get my bachelor's in accounting online from Walton School of Business which is the University of Arkansas.
hi do I need to get a masters to make this amount of money he says in the video or just a bachelor's in accounting
Bachelor is fine but advise to get your CPA
Hello Bill,
What would it take to become a great accountant? Skills, habits, etc etc.
Respectfully,
Leon
Hello Bill,
What would it take to become a great accountant? Skills, habits, etc etc.
Can I ask a question? When you talk about $100K annual salary, do you mean before tax or after tax? Is it net income?
Before Tax
Around 65-68k after tax
I worked for one company after getting an MBA, 7 years... Over that time my salary increased 30k. I took a role at another company, and by moving I increased my salary 42k. Funny thing was, when I let them know I was leaving... The original company said "wait, we'll talk to HR and see what we can do." Then, they came back with a counteroffer that was 3k below my new offer. I said "Thanks, but no."
Its all a game. Anyway... Its not about company hopping to get more $$$, develop the skills you need to be successful... And when you're ready move to an opportunity more challenging.
It really matters from where you start, if your foundation of professional career is strong you can go to the sky, but if you begin with small Company and stay for 5 years mostly u will fail in career.
So...where are these high paying accounting jobs at?? Because as a Senior Accountant in industry, I'm not cracking 6 figures.
Six figures most often comes with an accounting manager title. So work toward that goal. Good luck
DB is defined Benefit plan, "Pension"