You might want to consider becoming a City manager. One City manager in L.A. County was making nearly $800,000 per year, with guaranteed 12% annual increases. His retirement will start out at $650,00 per year and increase to nearly $1M a year if lives ling enough. He also gets free medical, dental, etc. for the rest of his life.
Too funny!!!
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I know someone who has a CPA but primarily used it as a credential to work as a analyst in Wall Street. From looking at salary charts online, it looks like it takes a really long awful slog to get to 200k a year in the Big 4.
Definitely! I work for a big 4 accounting firm on the west coast. I would say it is pretty common to be making 200k as a director or experienced senior manager, even before making partner but at about 10 years experience. That being said, you should also factor in that this is straight out of undergrad or with a one year masters degree, so probably in your early 30s. Some doctors, lawyers or other professions might get there earlier in their career but with more years of education (similar age) and likely much more debt. Depending on your role the hours may be long, but even that varies by group. I work in a specialized area in tax and work maybe 45-50 hours per week. That would also be true for most other jobs with similar pay. Stress, large workloads, and lots of education are pretty much given for any high paying job and just to get those jobs in the first place requires you get good grades and be quite capable. Lots of accountants don't end up making that much but it isn't because it isn't possible.
Its possible but depends how much you want to work. Got up to 75k small market firm within 5 years of graduation and 3 of cpa but hours got insane so I quit and work for myself now. Make about the same, way fewer hours, totally worth it. Don't bother with mba, no one cares about that. 75k is enough for me. Soon to be single mom (by choice not your problem or anyone else's), but work 50 hours per week during tax season and 20-30 hours the rest of the year and I'll get my 5k back under 20 soon enough.
I'm a Big 4 CPA.... said: Any successful CPA runners out there?
Ron Clarke was an accountant.
cheers.
It is like engineering, law or medicine. If you are just working for someone else your entire career, you will make good money, but will not get rich. If you get up to the ownership level, whether by promotion or going out on your own or with friend, you can get rich. The best path is probably combining accounting experience with finance or MBA to go corporate or to get into banking/finance. At a large company, you do not have to be the CFO to make some pretty amazing money. Regional VPs can make big salaries and get lots of stock options at large national or international companies. Getting your foot in the door as a controller is a good way to move up that ladder into a high paying job.
If you decide to stay the course in Accounting, it's a long way to go. Why not get a degree in Accounting, work for a Big 4 firm for a few years, get an MBA from a top-ranked school, and go into banking as an Associate? Or private equity? Basically $300K+ the first year out, with opportunity to earn much, much more. Why anyone smart would stay in Accounting and work their asses off only to make $200K / year, I will never understand.... If I am working more than 60 hours a week, I expect to be making $400K+ (current at $275K for 40 hour work weeks in finance at an oil and gas company).
Yes you can. You can easily get past 200K as a CPA w/o the MBA.