Do accountants make good money reddit Source: b4 accounting person with a brother at faang as a swe. He told me that the only people who make good money at a not-for-profit are the people at the very top. If you do happen to choose the public -> private route, there is a good chance your boss will be someone younger than you when you get into a public firm. For a smaller accounting role in a more established company in a non-major city you can expect between 46-50k starting plus benefits. An accounting career can be as well paying as you want it to be. Please help me understand that either the pay is good or is lacking. I didn’t have one but have a MBA concentration in accounting that qualified me. We have 9 CPAs/EAs, an IT guy, firm admin, 2 secretaries, and 1 tax season intern. It’s all relative. But after reading tons of comments about how the big 4 is so bad /stressful. Not Dr or lawyer but still alright. So I picked accounting because I knew it would get me a job fast at the end. While I now make very good money, my twin brother who has a Bachelor's and CPA makes about the same and never had to deal with the debt or lost earnings. I make more than my husband who is a software engineer for a niche industry and he has 8 years of experience. The only professions that beat it really are MBB/T-2 consulting, IB, Biglaw, doctor, and tech at a top 5% company. Higher-earning accountants may earn more than $120,000 per year, while lower-earning accountants may earn less than $40,000 per year. It's pretty cheap to register an LLC and you can make professional-looking invoices in Word, so next thing you know the bookkeeper is funneling checks to their own fraudulent enterprise. You can make good average money in accounting your whole career, while you can make great money for a few years in tech, bounce around, and have a hard time finding your next role. Set aside a pool of money that's just for higher-risk investments (kind of like a set money you gamble with) and invest that money into stocks that you're interested in. this is a 5 year span. If I had a choice to go back, I would do what I really loved doing. I am trying to pay off debt and set aside money for a future and maybe a masters degree but I can’t do that with just one job. I don’t know. If you are talking about corporate accounting, that may be between 70k-100k in a high COL area. You can learn what to do and what not to do so you're better prepared when the time comes for your own business. Typically, those who do audit for a couple years make the leap to private for less hours per week and a salary increase ranging from 15-30%. On the plus side she has no month end, no busy season, she has an annual audit and writes the cities cafr, but she get it all done as part of her 8-5 over a few weeks, and when she turns 62 her pension will be worth almost $90k for life for whichever one of us lives longer. But after 3 or so years of experience plus a CPA, they can easily command a six figure salary and sometimes a 30-40 hour work week to boot. Try and find one who will do a radial scan of your sewer lines. being so close to the States, where accountants make the most money by a mile and 2. " An accountant is a person who keeps or inspects financial records. Nurses make OK money, but they have potential to make what I consider good money if they are willing to fight for their worth. 99% of work sucks. I’d say accountants make great money. While I didn’t have it as bad as my big 4 friends, after 4 years it was still enough to make me never want to do public again. Also, knowing about taxes and money implies that you are taking good care of your own finances. I didn’t know what the eff I wanted to do, took a year off school, my parents threatened to take away my car if I didn’t go back to school. It was actually a former audit client that I was the manager on, so I knew the CEO and the job quite well already. Its a unique skill set. These professionals are organized and detail-oriented. For accountants who want to make the most For example, if the person who sets up vendors and enters invoices into the accounting software also writes the checks to vendors. In accounting, just about everyone gets a more than decent job right out of college. That’s usually things like high level executives,specialized level doctors and top of the top lawyers. What you put in is what you get out. But pay is only one factor in the equation. I work county not fed. Get into management accounting. With hard work and talent, you can actually make a decent living in accounting. Tad more for month end and budget time. Working your life away as a floor nurse hoping administration gives you a raise is not how you get good money. -Now going back to accounting but hoping my next role in industry doesn’t require regular 80+ hour work weeks in another skeleton crew. I dislike my current job. It’s served me well for the most part as I never went the public route or got my CPA and I make a pretty good salary. Just things for you to consider. After five years in accounting with CPA, you should expect to make anywhere from 100-170k. When people not in the accounting industry ask what you are, do you say CPA (if you have one), or your job title (auditor, financial accountant, etc. Pilots make crap money until they have well over a decade of experience and unless you were in the military for ten years good luck getting your foot in the door. Yeah. Just because I failed to monetize my hobby doesn’t mean you will! Good luck to you wherever you go Getting a job or two can teach you a lot especially if you try to learn from every experience. Good at selling/building relationships Technical The problem is most accountants focus on #3 and are the opposite of #1. I don’t have one and make six figures plus bonus. Just curious about what I might want to do, so looking to hear from all sectors of accounting through the years! Most people aren't excellent investors in general but like to tell people about their winners to make it seem like they are. Edit. For work I'm the financial controller for a commercial printing company that is projected to do $4mil in sales for 2014. So accountants make good money back then and they have good exit oppotunities when all companys in the world are trying to digitise their finance system. They do lots of litigation, fraud, ponzi schemes etc. If you want to work in FP&A you could do either. What are your thoughts? (1) Is is still safe and stable career option? (2) Potential to make good money in it? (3) Still lot of opportunities or doors open up by having accounting degree and your CPA license? It could be that the new adjustment is getting to me but I am starting to doubt my choice in engineering. e. Oct 19, 2023 · You can create a YouTube channel on just about any topic to make money. I would say they’re comparable. My work is interesting, my boss huffs at me if I do much as answer an email after hours, I work with great people, the corporate culture is fantastic, it’s good money. Since I have taken commerce after 10th the only career that people talk about is chartered accountant. Accountants make absolute pennies on the dollar compared to the amount of work they do just starting off. Starting salary at accounting b4 be pretty meh Both very good but faang definitely more good initially. The people in life who truly get "rich" are starting some wildly successful business or getting really lucky/really smart in business to end up officer level at a large company. And a good marketer can add a lot of value a lot more clearly than a good accountant. Accounting has been super fun and have been applying my technical background to my current job. Unattainable for most accountants, sure; but it’s definitely possible. I do get dinged at year-end for personal use of auto, but it's still a pretty good deal for me. Since they deal with money – sometimes significant amounts look to switch into consulting/advisory and learn how to sell. I feel like accounting is the safest option, and the potential for a higher than average income. Accounting isn't a career path to pursue if you want to become very rich. Too many people look to their job to meet needs that jobs just don’t fuckin meet unless you’re like a pediatric oncologist or something. Or expecting it to be super cheap and quick. I feel If you are chasing the chargeable hour, it’s all the same. To make really good money become a partner at a Big 4 or a high level accounting executive at a decent sized publicly held or large private company. Accountant can mean AP clerk, AR clerk, etc which are obviously on the lower end of the spectrum, so if you include these in your data set, your "average" will obviously be lower than expected. The thing is I can't decide on a major. However, the work and hours tend to be very chill because of the low pay. I don't regret my path, but if I was giving someone advice who is interested in accounting work (I do tax), I'd always recommend the CPA route. I know that salary is not high compared to other jobs like finance or tech, but many say one good thing about accounting is the pay. 3 years F500 defense company under an incredible accounting manager/mentor with rapidly progressing titles (associate accountant, accountant, senior accountant, and finally senior financial analyst). Simply Accounting staff and Admin staff. You either made a lot out of high school or have not made the right moves to increase your income 6 years out of college. Both of which are generally significantly underfunded by companies until they experience major setbacks. I would leverage your title as management accountant to get into conversations regarding much higher paying roles. Reasonably decent grades (3. I've never been the cutthroat corporate ladder climber. Everyone else makes squat. It's an employees market so not changing jobs is literally lighting money on fire right now. A good cpa will make solid money with quite a bit of stability and little risk. I have been in accounting for 20+ years (been a CPA for 6). Public accounting has long hours with low pay until you hit partner - then you can really make a lot of income especially partners at the larger firms Happy to answer. Just to be honestthis is pretty much what accounting departments/AICPA are advertising. There is no systemic way of completing enough tax returns or financial statement audits or models or whatever with clients that neglect you until the last second, then hand you shit support and ask to deliver or move to the next The MOST money you can ever make is from owning your own business. I have colleagues who do the same job as me in EMEA that legit make almost $100k less. For one, it’s a hobby for him. Honestly, I’m an accounting manager for a private company (I have my cpa), 7 years of experiences. I think many accountants are jealous of the perceived money they make which is only true of the top talent. Unfortunately it hasn't died off yet. Why do we make peanuts compared to these finance hardos? Accounting is the harder major by a long shot (i would know, i took a couple classes during my undergrad in finance), yet they end up with all the money? One of my friends started in investment banking at the same time that me and a couple of my boys started in audit a Though if you get to senior manager/partner at b4 you'll make around the same as a faang swe or more or less since faang swe can also vary a lot. The point I am trying to make is just having a CPA will not instantly put you on a track to making millions but the knowledge you gain studying/working in accounting can enable you to become a great entrepreneur with the potential to make tons of money. com On this page, you will find further information about the factors that impact accountant salaries as well as a table outlining the best states for accountants. are factors you’ll begin to realize have value too and there’s always a trade off in life. I'm sure I could make more money elsewhere, but I really enjoy our small firm. How does accounting compare in terms of course load and work? Does it have any classes that stick out as "this is hard as hell for most people"? What is considered good money? Here is the deal. But what I would do get a job with your CPA working for someone launch your business and do stuff on the weekends once you make more money with your business leave the other company unless they offer you a partnership That classification only requires a BA in accounting. If you're an average accounting student, you'll probably get a job as an accountant and make pretty good I know you're probably thinking "oh ho ho, silly accountants with their bias takes!!!" but AI taking over accounting let alone auditing is so slim it's non existent. I was forced to learn to talk to clients , and my skills have increased immensely because of it. I know so many people who swore they were stock market geniuses after buying all the meme/tech stocks they could afford last decade who are now feeling a lot less wealthy after this gigantic correction. I don't want to do it. There are careers with better top ends than accounting however if you're chasing only cash. My take home pay was like $3,000/mo with just my accounting job, which, where I live is barely enough to pay rent and utilities. You can make a lot of money doing anything, you just have to have the motivation, love and passion to work well and hard at it. If you want big money in accounting, then it is certainly attainable, you just have to grind for it. If you're a really good finance student, you'll probably get a job in the investment industry and make really good money. The accountant supply and demand is going to be a clusterfuck over the next decade. Third, on a per-hour basis again it’s not something that will make you any real amount of money, especially when you take into account cost of materials. To make that much in accounting, you typically will need to be at the controller/director level in a MCOL or HCOL area and you will be normally putting in some pretty harsh hours (50+ per week) at quarter and year ends and usually around 40 even during regular weeks with maybe a few weeks after close that are a bit more chill. My base is $68k + $6K CPA bonus. An accountant's salary is largely determined by experience. I have access to their total compensation and more than half of the top accounting folks make around $300k in total comp. " Those not familiar with the business might think that wealth necessarily follows. Location, field, and size of project make such a difference in salary. How Much Does an Accountant Make? Oct 17, 2022 · Depending on the location and job type, accountants can earn a good salary; the median annual wage as of Jun. I live in the Midwest where many (including some of my family members) get stuck after high school or just don't have anything to leverage themselves into a career. . Think about this, the top kid after accounting still goes big 4 and starts at 65ish now, while the top finance kid goes to goldman and makes Judging by your situation, improving your economic situation must be a priority for you. This is coming from someone who is in the federal government. sometimes you just start with whatever you can get, which is what i did. They love people who work hard for small money, like stability, dont express their opinion, and don't want to move up fast. Earlier I was explaining to my wife how in an hour I can spend 45 minutes converting PBC PDF’s and formatting data so I can then do 5 minutes of accounting work (the remaining 10 minutes are spent documenting and spell-checking the 5 minutes of actual accounting work). I think average is comparable, but accounting is more secure. We’re not going out and buying Maseratis, but we’re also Someone's doing it wrong. A quick seek search shows 8,980 accounting jobs in all of Australia. As an accountant, using your expertise to create videos on financial topics like accounting, taxes, investing, or personal finance makes sense. 1 year director of finance for very small nonprofit (wanted a change from public company and went a bit too far). Good luck! I don’t understand why we say accountants make good money. 5 YoE (Spring 2017 graduate) and have my CPA and make $150k base + $30k bonus (20% bonus target, assuming payout is at 100%) near Philadelphia. i started in billing, then moved to staff accountant after a year (new job) then senior accountant after two more years (new job) and there are currently talks of making me assistant controller. Sure, accounting partners and CFO's make bank, but there are far fewer of those in the economy than surgeons / medical specialties, most of which start at 200k+ depending on COL. So I started a second job and everyone there who asks what I do says the same thing. If you realize that a job is a job is a job and you want to make a lot of money to support the things that give you fulfillment and purpose outside of work, accounting is excellent for that. If you’re planning on getting a fixer-upper, it’s 1000% worth getting an inspection so you know what you’re getting into, and what to tackle first. I’m a senior auditor now and promoted 3 ranks basically once per year. Cost Accountant Salary – The average cost accountant salary is about $58,000 per year. My base pay was a little north of 100k, received $20k in bonuses, and I get a company car. Do audit, tough it out in a public till senior if you can, then switch to industry. They traveled a good amount including international travel as well pre covid not sure if that has changed now. For a non public accounting job, (requiring no CPA) I work in a small start up and a typical full time accountant with a few year experience will start between 52-55k. See full list on investopedia. The more knowledge to have the more money you can make. Oct 17, 2022 · Depending on the location and job type, accountants can earn a good salary; the median annual wage as of Jun. Traditional corporate salary-wise would be controller, CFO, etc, positions which can pay atleast a couple hundred grand a year even in some companies with less The good thing about public is the raises are generally good and consistent. You can make good money with either a finance or accounting degree - but objectively the work is / can be very different. 636K subscribers in the Accounting community. On top of ensuring the companies financial information is regularly in good shape, so the owner can be aware of anything odd going on, it makes things way easier when it makes it way to their accountant for the year end tax return/compilation/review. To make “really good” money in accounting you need one of these traits: Risk taking (instead of risk averse). If you get a client that makes a lot of acquisitions, you can really do well. Many people do five years of school and get a CPA. I was an advisory partner in a B4 firm and am now an accounting prof and so made/make pretty decent money but don't have a CPA. My personal opinion on this is since we don't have major economic hubs like NY or CA, we don't have as many tech/finance jobs that pay significantly better than accounting. Hello Accountants/CPAs, is accounting degree still a good choice in 2021 in US? I like accounting and business. I applied to the job, got the interview, did a 45 minute verbal case study (an acquisition scenario where I was asked questions about potential adjustments to the Quality of Earnings report and what should be done if the scenario occurred) followed by a 45 minute interview with a partner -- ended up killing the case study apparently and the interview and got the job. I enjoy my work for many Hii. You won't have any trouble finding a job. Corp FPA is all about consolidations, entity reporting and cash flow forecasting. )? upvotes · comments r/Accounting We would like to show you a description here but the site won’t allow us. Some make 100k in 10 years, some make 100k in 2 years. Accounting was my first choice for a major before looking at engineering, now it is my fallback. Heck, the staff accountant with 1 year of experience made 75k! Just my 2c, accountants can make good analysts, and even better than some MBAs. You don’t need a CPA as an accountant to make that money. I have been teaching and have had a small tax practice on the side. Also, if you REALLY want to do accounting, serve clients, and make bank, accounting can be good. P. "Doctor, I just cannot get to sleep at night". I do it as a side gig and I am done after this year. Do not think you will be one of that person. I enjoy accounting. Work hard and I’m sure you’ll do fine. I lucked out with this one Business Intelligence is the process of utilizing organizational data, technology, analytics, and the knowledge of subject matter experts to create data-driven decisions via dashboards, reports, alerts, and ad-hoc analysis. If you majored in accounting not realizing most CPAs that don't make partner kinda top out between 100k to 150k then thats kind of on you and not the profession. Secondly, some ppl prefer a lower stress routine job, especially when you start having a family. If someone can't make that then it let's me know they know they are worthless and they are hopping before they get found out. In Canada trades pay pretty good as well, especially in the mines, and o&g, so I’m really questioning if I want to continue doing accounting, if I was in America no doubt I would continue doing accounting. Tip just blame over or under accrual every month. One year is plenty of time to figure out that the person you hired is worthless. I’m 29 with 6. Most CFOs started their careers in accounting/audit. Good accounting and tax planning doesn't reflect on revenue at all, a good marketing strategy/campaign can multiply it. I’m in MCOL in CA. Accounting is pretty good if you have a knack for numbers and remain reasonably alert. If you're a really good accounting student, you'll probably get a job as an accountant and make pretty good money. For context, I’m a first year accounting major (from Canada) and I’m looking for some direction. Lowest cost of living area in the US (I didn’t fact check this). The extra year of school doesn’t matter reallt, but a CPA dramatically increases earnings. If you’re non military you are looking at 150k+ in student loans. There are quite a few career options for CPA's like financial reporting, tax, corporate finance, commercial banking, treasury, forensic accounting, bankruptcy/insolvency, financial planning, etc. And for god sakes don’t sacrifice your personal happiness just to make a lot of money. Accountants make decent money. 10-13 years an accountant can become a partner and you will be making way more than an MD. A project manager in a low cost of living area, doing project management on a business project that is $50k aren't going to make a lot of money. The difference between a first year auditor and 3 year is drastic… just stick with it and network, get ready to make more money as you gain experience. Big money to some is $300k+, to others “big money” is $80k. I had seen many people saying CA is tough, it takes multiple attempts to clear it, life after CA is even tough because of low salary and full of struggles. So, she's making good money, but will never make great money. But to do public accounting you need to do a public accounting course. I know a handful of these people in IB or PE who make good money and very very smart. Primarily for accountants and aspiring accountants to learn about and discuss their career choice… I’m sure working in finance is exciting, but good accountants, much like good IT, do provide value to companies. WLB, flexibility, sense of purpose, etc. Good luck in your endeavors! The main 3 avenues in a very brief nutshell: Public accounting: you work for a firm that takes on clients and do either tax work (preparing tax returns, tax research, tax planning etc. It’s a niche field but it can be lucrative. I then changed to accounting because it is similar but yet so very different. I used to do general IT consulting and now I write accounting software (I make more and life is more interesting for me but I still keep some general clients around so I am not staring at code all day every day). Okay pay but easy work. Tenure track professors at the state university level start at $150kish. It all depends. The normal load is 15 units a year (5 classes), research/publishing and committee work. This is definitely not unique to accounting. Don’t feel like you can’t change your mind. But abroad, both careers will make you a highly skilled professional, so yea any profession with a specific skill will make you good money. A good tax accountant can usually save a business client $30K off the bat just by changing depreciation schedules and expense deductions. One of the key skills of a good accountant is being able to explain things well to a client, in a way that is appropriate to their level of comprehension. I weep for all the public accountants who work the same long weeks. Internal auditing, FDD, forensic accounting. After reading many post on this subreddit, a majority of accountant say that pay is lacking. I want to be an accountant in the future and was wondering if accountants make a good amount of money, enough to live comfortably. Alternatively just do government but the pay is less and the work is boring. Side note: accounting professors are more laid back from my experience. We have hours that suck more than most of those, but that is the price to pay for the relative ease of admission. i dont have my CPA either for reference. 4, 2022, for an accountant was $77,259. It does make the job search a little easier though Audit provides you will a good well rounded understanding of business and accounting in general. Q: What is the definition of an accountant? A: Someone who solves a problem you didn't know you had in a way you don't understand. Computer science if you like computers. I know, you will say something like oh but I saw some people that is in high position, but do not have CPA. If that means leaving eventually, do it. An accountant was having difficulty sleeping and went to see his doctor. I know that graduates don’t make much but overtime get more money the longer they stay as an accountant, Ive searched for accountant salaries but haven’t found a concrete number as all the salaries are different, is there a set number? Most accountants make 60 - 80 grand, which is definitely good money. I want to become an accountant in the future and was wondering why many people dislike it on this subreddit, bear in mind I know nothing of what happens in the workplace and I don’t know how stressful it is, I saw that you can make a good amount of money and also watched videos on accounting of what its like and what company’s want you to do as an accountant etc and decided that’s what I Of course, if you’re very ambitious, you can make GS-15 or even SES but even those levels don’t pay nearly enough compared to their private sector counterparts (public accounting or industry, since either can benefit from a start in public accounting). Can do most of it within 2 hours a day. Yeah, but think about it. But it's a grind. Charted accountants and accountants, generally have become a "dime a dozen. Industry employers don’t care if you have a CPA only public accounting firms and regulatory bodies do. Depending on the role, ASC 606 is some of the most complex principles and great for revenue BUs and deal desks. Of course, if you’re very ambitious, you can make GS-15 or even SES but even those levels don’t pay nearly enough compared to their private sector counterparts (public accounting or industry, since either can benefit from a start in public accounting). networking did The cost of healthcare/insurance is not enough to make the huge pay gap make sense especially when right wing morons are ruining national health systems slowly but surely as it is. That being said, this varies between accounting firms. Don’t feel like your goals can’t change as your personal life changes. I want to try accounting, but I'm TERRIBLE at math (especially in calculus and stats). Q: What does an accountant use for birth control? A: Their personality. And accountants were once viewed as professionals rather than rubber stamps. Public accounting will be around the same as a staff. For doctors, it is a total of 8 years plus 3 years of residency. If you want to be a W2 employee, it’s tough to make more than that 300-400k a year. No audit experience. I lurk in this sub because I think accounting is cool, but I am civil engineer. Whether it be a CPA firm or you used your knowledge/experience to make the right “big” investment that paid off. Once upon a time, Swe doesn't make that much as they do nowadays. Every transaction gets entered and I do monthly bank account and credit card reconciliations. I do however miss engineering and plan on going back to school at some point to get a BA in it. I did my public accounting time at a smaller regional firm, 5 offices at the time with maybe 100 cpas total. Management accountants at most companies easily clear 100k. Accounting, to me at least, is the organization of numbers. We also have more accountant per capita than the US, so there isn't a big upward pressure on salaries. Accounting is one of those professions that accommodates people that want to coast and people that are ambitious and willing to grind. Opportunities are there. I know this because I’m a controller of a large corporation that owns 50 plus companies, which all have their own accounting functions. Most accounting roles with CA or CPA are like 115k with wfh flexibility. I got my major in accounting and finance so I may be a bit biased. I know a couple of forensic accountants at a top tier forensic consulting firm and it’s actually a neat field. Public accountants in major markets make really good money imo. yung mga may PRC. However, they are not the best people persons. I don't make as much as I could have if I had done public accounting then larger corporations, but my WLB has always been good and I make enough to support myself, so it's alright. So, would a person like me who struggles in math be okay in accounting? I'm an accountant and investor. Ofc a great accountant will help you keep a lot more from what you sell but that's way harder to notice. So rest assured on the monetary side of an accounting career. If you stop at the certificate level and work your way up, you can earn a reasonable living but it will be a long time and take talent, luck, careful career management, and probably a few worker shortages to get there. Software engineers make more out of the gate, but five years in the accountant has the potential to pull ahead. Partners and controllers and CFO’s and firm owners make very large sums of money sometimes into 7 figures. the cost of living in places like Vancouver is really out of control. Each promotion was a good pay raise that’s why I make good money now. Accounting is generally considered to be one of the "learned professions. I get tired of people who make five times the amount of money I make wanting a discount. Last year I made 79k. In a major city you can expect 48-52k. Also, with accounting, the ceiling is very high/limitless. i know that’s probably an accountant’s worst nightmare, but if you’re good at what you do, can simplify it for clients/high level management, and sell a solution like transforming an accounting/finance process, you can make good money especially if a component of your If you want to go to higher position, then CPA is a must. Sounds like you don't want to do public so I wouldn't recommend tax. I'd hope you forget about the figures and try being really, really good at your choice of profession, be it accounting or anything else. I think the frustration comes from 1. Second, it takes several years of no income to build up the skills to actually make stuff good enough to sell. If you get your CPA or at least bachelor's you can make very good money in Alberta doing accounting. There's this old mentality to be 'grateful to have a job' and that only old people should have or make good money. If you’re looking to work 40 hours a week forever and no weekends, you can still make good money (over six figures) but it will take longer to get there and your peers that are more ambitious will likely double or triple your compensation over time. The difference between a mediocre doctor and a mediocre accountant can be easily six figures in yearly salary. 5 years post-qual same job, will probably move in the new year to be closer to home. Decide in advance of making the purchase whether the pool of money and the stock purchases are short-term, intermediate-term, or long-term purchases (this helps defend against Best paid is also not average. The current shortage of experienced people to hire is the beginning, I don't think our job market will "cool down" for a looong time, as it takes 10~ or more years for the market to adjust to a labor shortage since it takes that long for someone to decide they want to do accounting, and become experienced in it. It is a very diverse field. I do not have my CPA, but I do have a masters degree and 10 years experience now preparing taxes and compilations. Reply reply More replies More replies More replies They aren’t talking about the loads of ones that didn’t and are making 40-50k. I don’t enjoy it at all but I make good money and it’s easy and I don’t have school debt. I do some hiring and 2 years is fine by me. All depends on how much you grind and how smart you are to actually get the bag early. Become a petroleum engineer if you want that kind of money. The median annual wage for an accountant is 3 days ago · Financial Accountant Salary – The average financial accountant salary is about $69,000 per year. "Have you tried . Get out of accounting and don’t look back. This is certainly a good amount of money but honestly before I got the offer letter I thought it would be more. If you want to make good money you can do so in accounting. Reply reply Accountants handle multiple companies at a time and they almost never run out of jobs since may tax filing every year. It just isn't. I agree with all the comments saying that it’s not a guarantee that someone with a CPA will make more money, but it certainly helps open up the opportunities to do so. I. Although maybe don't make money your only consideration to begin with. I'll also add that you get the added benefit of job security when you choose the accounting field. You only have to go to school for 4 years to get a degree in accounting. And the ability to make even more is pretty easy compared to most professions. Some people are naturally just good at being an accountant, sometimes they just get lucky with a job posting/offer and got there at the right time. As you’ll need to do a full blown contract review for most deals which can be very time consuming. Yes, accountants do make good money. Most of the S&P 500 (and especially the top 50 you mentioned) are global organizations so there's an argument you get your international exposure from holding those companies. No career path is going to make you "rich", except maybe high finance and then you're working 90 hours per week. I do not have a CPA. Additionally, a lot of people don't find accounting work interesting. To make bigs bucks in accounting you would want to work up the chain of a Fortune 500 company towards CFO. Everyone posting here is just based on their own timelines. A really good student can easily start at 55 grand, but not six figures. You know there’s like 200 or more other types of jobs out there that make good money that’s isn’t accounting, right? Just accept the fact that you were sold a lie, take the experience you’ve gained for what it’s worth, and move onto something new. Make sure you take up accountancy, not accounting tech tho. Yeah the trades paying shit seems to be an American thing (of course Someone can make good money in America doing trades). I want to get my degree in accounting or finance. As an accountant and bookkeeper with experience working at an MSP that currently uses QuickBooks Enterprise 2023, I understand the importance of reliable accounting software in managing financial operations efficiently. So the cost of going to Med school should be factored in as well which would almost be $300,000 for 4 years and you aren't making any money either. Also, I am not sure what professors make in other states, but in my state professors make pretty good money. If you want to work in tax do accounting. A better move is to do not-for-profit audit, move up to manager, and then transfer into a NFP CFO role and just ride-on. The finesse that you have to do is on blur lines, AI can't do it - especially when it's completely dependent on client based information. Although all these layoffs in tech do make me nervous 😥 For an annual budget, I use Excel to do a quick calc of my monthly income and expenses, so I can see how roughly how much discretionary spending will be available. Very few accountants deal with finance bros unless your doing M&A or working on asset managers. Most STARTING salaries at a firm will be at least 50k in the US even in lower cost of living areas. Not worth it unless you have 30 or more clients in my opinion. I made partner since I am REALLY good at selling and client management but am not terribly smart. I’m not sure what your baseline is, but ti say we dont make good money is disingenuous. Then for recording my actual transactions, I use Quickbooks. Examples: if you want to be a portfolio manager do finance. You are likely in a good place. Traits that are attributable to his accounting knowledge. Good inspectors will charge anywhere from $500 We would like to show you a description here but the site won’t allow us. You have to be good with people and also understand financial topics and even more such as taxes, estate planning, insurance, education, etc. Tax pays the most in public accounting and you can also make a ton of money as a solo practitioner or starting my your own firm, which would mean a very busy life during tax season and less so in the off-season. Some of the accountants have their CPA. Makes zero sense. £55k, under an FD, managing 2 finance assistants London 3. A good bookkeeper is a big deal. I'm not saying staff accountants can't make it into these roles, but having an auditing background allows for easier transition. Overall the skillset needed is not a dime a dozen. The salary of an accountant has a wide range. We also don't do a good job of making certain careers feel accessible in our education system. S I just graduated from college and was hired by a big four firm to do audit. Supply: There are barriers to entry to become an accountant that limit the pool of total accountants in the workforce. So more people go to accounting instead. Accounting Associate Salary – The average accounting associate salary is about $43,000 per year. Accounting/Finance is apart of that “potential for higher income down the road” category. It’s only few people either who was extremely lucky or good at something extremely well. This is an ideal way to use your knowledge from your full-time accounting job to make extra money on the side. Most software engineering jobs cap around 140k from talking with my CS friends The median for 10-14 years experience is 130k, according to the survey, which to me still seems like a fair amount of money for 1 person to be making. ), audit work (audit a company’s books according to specific laws and guidelines in order to provide a degree of confidence in their financial statements), or both if you work at a small firm. Typically IT consultants carve out their own niches. 7 GPA) and good connections. Some employers also view auditing experience as more valuable than normal accounting experience so there's that factor to consider as well. My husband is a CPA who also makes six figures but out earns me only by 15%. We do make good money compared to national averages. Plenty of accountants make good money, if you don't it is likely on you, sorry to be harsh. Which is about 5 or so hours online. Long term probably around same. 5 years audit, 1. My issue with applicants is when they never make it a year. Learn, network, and use leverage to discover opportunities. It’s really easy to say the goal is to make a ton of money, but I make 6 figures after 7 busy seasons and tbh it’s more than enough. jmaej atke iih txvqu wgzfi fvln hraeto pgd yxj nnag

Do accountants make good money reddit. Do not think you will be one of that person.