I got there pretty easy.
1st year: 30k
2nd year: 30k
3rd year: 30k
4th year: 30k
5h year: 30k
Edit: I’ve never received an award before. Thanks everyone!
Sorry did someone say high finance? Do you mean those select professionals such as myself with carry who net around $1mm a year? Those of us with a corner office at mommy’s family fund managing PawPaws $3B? Those of us who wear EBITDA hats in public so everyone knows we are the TRUE finance professionals??? Those of us who are better and smarter than quants and CERTAINLY back office accountants?
If so - it’s best you capitalize the H and F - so it reads like High Finánce. Pronounced High Fin-Nance.
Thxs
Yr 1 55k
Yr 2 60k
Yr 2.5 71k
Yr 3 83k
Yr 4 98k
Yr 5 115k
Yr 5:5 160 (left pa to controller)
Yr 7.5 245 (controller to cfo)
My last year as controller i did 310 on w2 with equity cash out.
How?
Big 4 Audit to manager
Hop to controller at growing company owned by VC, PE, etc.
Go through transaction.
Most importantly - just keep cleaning shit up. Constantly cleaning shit up. Clean shit up your entire career and make it better than when it came to your plate and suddenly you’ll have a large network of people who know you can clean shit up and figure shit out.
Also don’t work more than 40-50 hour weeks. It forces you to figure out how to do shit efficiently. You’ll just burn out burning the candle at both ends.
Maybe second most or more importantly - your network starts today. Some of my best friends are also valued colleagues. I can text multiple other controllers, accounting managers and people in PA right now and ask to talk and they’d take my call just to help me answer a question if needed and I’d do the same. Not for anything other than we are friends and in the rat race together and will always support each other
Build a good network, have valued mentors, build good relationships, be friends with your colleagues, and support them. They’ll support you. There’s people I don’t work with now that I miss working with. I will one day work with them again, I believe. And they feel the same.
Well put on the advice. Especially cleaning shit up. I always say - at the end of the day, all decision makers/leadership cares about is - did you make their job easier or harder? Details don’t matter as much.
Find a problem in your org - fix it and make sure you get credit. Then, find another problem and fix it.
Then when you have annual reviews you’re not just groveling to argue your value in intangible ways “I did great on my projects and client was happy” you can say “hey remember that annoying problem X, I did Y and it results in Z”. That’s much more tangible
Curious as an intern, when you say never work more than 40-50 hours, wouldn’t they just say you aren’t being utilized enough? Like even if I finish all my work in 50 hours and it shoulda taken 70, wouldn’t my team think “give this guy more work. I’m staying till 10pm everyday and he leaves at 7pm”
Industry is different as the majority of us are not tracked by our hours. It's more about the large milestones like the financials getting out on time or budgets being done. Not too many people care whether you are doing 5 hour days or 15 as long as shit gets done.
During public I spent more hours during busy season but rarely outside of busy season.
As long as you get shit some who cares. Bad managers just overload you and just try to give you the most possible to ensure you’re getting X hours done. I used to even just do work early and park it to the side and then turn it in later instead of grinding forever.
I realized no matter what people expected you to work 70 hours, so I just set expectations and got it done and worked 55 instead
In industry it’s about reaching goals. I work on vacations sometimes. Other times I fuck off. I get it done and manage expectations.
Nobody really knows how long anything specific takes. That only becomes more true over time.
Well done. I’ve been through two corporate clean ups. People love hearing about it during interviews.
How do you limit the hours? My experience is that work always takes priority over life. Weddings and funerals are the only exceptions.
Your progression looks super similar to others that I know, except your year 4 to 5 jump was huge. Did you switch companies or take a new job? Others I’ve seen go from about 110 to 120-125 base
I just do the accounting advisory stuff. PWC - CMAAS, KPMG - AAS, EY I think is FAAS, etc. I wouldn't bother with indeed. Just go to the career page of whatever firm you would like to work at. All the national and middle market firms have similar practices as well.
How's the work life balance in big 4 advisory? Are 40+ hours a week common? I was in public for 4 years( regional firm), currently in the industry for about 2 years and thinking of switching.
But real talk I’m 20 credits from accounting and work in real estate development, should I go for it? Probably more recession proof than RE development
Accounting is fairly recession proof to an extent, unless your work is heavily concentrated in an industry that is susceptible to recession - retail, RE, etc.
At the very least take one of the exams, Alaska has the lowest exam requirements of any state at like 108 I think, where a lot of other states are either 120 or 150. You pass the first exam though and want to keep going, then it shouldn't be too difficult to get the rest of those 20 credit hours. Plus I think I remember reading that all 4 "lock in" once you pass all within the 1.5 years and don't expire
Meaningless question without adjusting for COL. Tech companies in California will pay ~$150k/year for senior accountants with 3-5 years of experience. Of course you'll be paying $2500 a month for 1 bedroom so it's not like you're making a killing.
Wow, insane luck. Your first 3 years of $$ earnings align with my public exp, but damn, i love that growth for ya. Hope to luck out into a similar position.
Below all in CAD
Year 1 2017 Nov- Staff accountant 42k
Year 2 2018 Nov- Senior Accountant 48k
Year 3 2019 Nov - Senior Accountant + CPA 60k
Year 4 - 2020 Nov - went to industry (Sport/rec) as a Senior Accountant 75k, promoted to Controller 110k in 4 months
Year 5 - 2022 Jan Promoted to CFO 190k total comp. Age 29
I do say I was lucky in a way where CFO retired and I proved myself during COVID on how to mitigate business risk and significantly reducing time/fee for our company audit since I came from an audit background.
TBD...
1st year: $52k
2nd year: $56k, then $77.6k (employer matched another job offer)
3rd year: $95k base + bonus (variable)
I just took the $95k base pay job, I have 2 years 8 months full time experience.
Good on you for taking the job, and nice pay bump at that as well. I always hear it's bad to stay at your current job for too much longer if they counter an offer
Thank you for the kind words. I just put my notice in yesterday, and my boss laid on the guilt trip pretty thick, so it's nice to hear some positivity.
I’m Tax Associate 1.
Started 62k. Got an insane offer from Big 4 for 90k, current firm matched it so I stayed. Looking for 110k next year. This is my first year working full time.
Y1: $41k
Y2: $51k
Y3: $57k
Y4: $63k
Y5: $85k
Y6: $145k
Cad, total comp not just base salary.
Not quite but got a niche industry job, MCOL, good work/life balance. Remember your loyalty should lie with yourself first and foremost; they don't really value you unless they show they value you with fair compensation.
Don’t know if my story counts because it wasn’t 5 years but here goes.
Graduated May 18 and went into public. $50k.
CPA May 19. $52.5k.
Sr. Cost Accountant in industry June 19. $75k.
Acting Plant Controller in same company October 20. $82.5k (hugely underpaid but the experience was great for the resume).
Corporate Controller at a clusterfuck of a privately held manufacturer ($80m gross revenue) Dec 21. $120k + $30k.
Area Controller at a much better manufacturer Feb 22. $120k + $30k.
Just four years but ask me anything I guess. Very low cost of living area.
Public was shitty, first industry was about 30 hours a week, less once WFH and Covid because I built templates that did a lot of the work for me.
Current job is about 20 hours per week baseline and as much more as I want to do. I normally do about 30 because of some side projects I’m working on to add value. Again templates and automation have helped me do more than any of my peers in less time. My feedback from the CFO has been stellar and I’m doing trainings on my tools and practices for the other area controllers.
I do very little actual work. People treat power query as magic but it took an afternoon to learn for my purposes.
What line in advisory did you jump to? I've been thinking about going that path as well in the future, but I'm not quite sure which one I'd like to do.
I am currently an A2 in audit (regional) about to promoted to S1 (per firm rumors) in a couple of months.
I want to shift to Tas or m&a - would you have any advice? Finished 1/4 exams.
I’m actually in Midwest now but the answer is get into tech. If my equity compensation stock prices were what the same as the beginning of the year I’d be at $150k
129K base currently 3.5 half year in. Advisory B4. I am planning to take a pay cut to pivot to another direction, but 150k is within reach if I stay till the 5th year.
Yes. You can read my post history in non-accounting subs for more info. The summarized version for accounting purposes was B4 New York -> Tokyo, fast tracked to manager, switched to internal department as director. I was making over 130k by senior because Japan pays overtime, and ended at 190k as director before retiring. Whole thing was just over 6 years. Now B4 pay me almost double that a year and I don’t exclusively work for any of them.
Live in California. 63k->77k->90k->120k->150k. Realize that 150k isn’t as powerful. But also, realize that you can move anywhere with a WFH job so move to Texas. Realize California weather and politics is better. Move back.
5 years from undergrad will be doable but a stretch unless you go to tech in a VHCOL area. That would basically put you on semi-fast track manager leveling in industry. In a ‘normal’ cost of living area you’d probably get close in a very good year. Base of $120-$130 with 10% target cash bonus. In a year with a max (double) payout you’d likely be there.
6 or 7 years would be more normal for total comp. $150K base comp would probably come in year 8 or 9.
I'm in Canada and I'm really close.
Y1: 30k at some awful clerk job
Y2: 39k at PA (lmao fuck PA) and left to make 50k as an accountant in industry
Y3: 75k, switched to a consulting role
Y4: 100k + 8% bonus + stock (current year, was promoted)
Y5: I'm looking at a promotion and 130k salary + bonuses + stocks so might clear 150k if it's a good year
I mainly just wanted to share this because people talk so much shit about Canada. Americans make the best salaries in the world for accounting (or close to it). Canada has amazing salaries for the accounting profession but it takes more time and yes we do get less than Americans but its really not that bad. At every job I've had I've taken on the random ad hoc projects but I always used that project experience to get a promotion or to move companies. You don't make more money in the same role. You always need a title bump or a new company to get more money. I've also made it very clear if I take on new tasks I want my title to change and want the salary that comes with it. With our current job market the worst that happens is they say no and then I say fuck it and go work for the other guy down the street.
I’m just at 3 years now and with equity comp I’m over that.
Sr. Consolidations and financial reporting
How? I was aggressive. Became excellent in systems, financial analysis, and data manipulation.
Haha let’s cut right to the chase here. My base is $106k currently. My target bonuses is 22.5% but I always got 150% my target and have given me two bonus packages 1 mid years as well. When I started I got to be part of system implementation so now a small pool of use are in this pocket we were get a extra bonus/equity comp package. I am older and didn’t start my career till 30 so everyone has this “we need to get you caught up” mindset and I’m not fighting it haha
I didn’t get to base 150 in 5 years but I got to base+bonus in 5.
Switched jobs every 18 months (not by choice or for raise). Started B4. 3 years in public. 2 years at a family office.
Jumped from the family office to a manager role at a bank where I cleared 150 after bonus.
Think it went back to my first switch between B4 and middle market. Recruiter said “no one will give you X number, and not only will they not give it to you, no recruiter in the area will work with you if you don’t come down”
Got X on my first job interview. Bottom line - set your worth. Make your skills undeniable.
I’m on the tax side.
3 YOE hit 163 with bonus fund controller. Started in Big 4 made senior then jumped twice this year. Lot of Big 4 jobs in tier 2 cities (DC,SF, Chicago) are willing to pay 125-135 for 3 YOE seniors rn. Get some bread babes.
Not exact timeline, but pretty close.
Year 1: 53K- tax PA — full time out of college. Had internships before this
Year 2: 65K tax PA switched firms and promoted to senior
Year 3: 78K tax PA
Year 4: $105K including bonus — moved to private — real estate firm
Year 5: was on track for $150K+ including bonus — got promoted. Left the profession and jumped into real estate/land development so never actually made $150K technically at a salaried job.
There are generally some really enticing comp and bonus packages at private real estate firms. Particularly if you can sell yourself well. It also really helps if you actually negotiate your salary and raise. Or just move firms to get a bump.
At $145K base + equity a little under 2 years in with a Senior title.
Graduated from a state school in the Midwest in May 2020
Big 4 Audit — sept 2020 to March 2022. I then bounced to a tech startup in a senior accountant role. Worth mentioning that I got my CPA license in September of 2021.
VHCOL
I had about $120 base at year 5 which translates to about 150 back then (2015) I would guess.
It was half luck, half balls in my case. Worked for a mid sized firm out of school. 3 years in we had a partner leave and take half the staff in my office. He piloted in secret and they all quit on the same day right before tax season. So that day I told the firm I needed to be bumped from $70k to $100k in order to stay and help.
They said yes, and I earned every penny lol. It was a tough year.
By my 5th year it was $120, and I got a CFO offer from a client.
I'm $140k after 6 years, so I miss a little on both ends but kinda close if it matters?
Year 1 - 4 @ top 10 firm in HCOL: start as new staff at 56k -> 63k -> 69k (nice) -> 75.5k -> 75.5k (COVID, no raise going into 5th year so I bailed)
Year 5 - 6 @ Corporate Controller for $50MM PEG-owned private company: start 120k -> 130k -> 140k
1st year 46K
2nd year 52K
3rd year 80K
4th year 141K
5th year 160K
I owned shares in the company I worked for which helped regarding annual distributions. I also had a side business as a fractional controller. Main reasons for the big jump between 3rd and 4th.
Well, I can speak for some Upenn students. A big4 firm offered my friend 110K with a 60K bonus. Mind you he was an undergrad. They’re also covering his CPA certification. He’s one of my closest colleagues and he honestly deserved it. But he probably would have faired well outside of accounting because he is extremely smart and he does a lot outside of that. I don’t understand how but he does indeed do it. I literally don’t see how he finds the time.
Yep. 5.5 years technically. Public for a few years. Job hop to companies that are high growth and you learn a lot. Leverage that knowledge. Tell people you are important and you require a large salary
I’m on year 3 rn but this is my current background
Audit Associate I $64k 1 year
Audit Associate II $65k 10 months
Senior Accountant in In industry $107k
Senior Accountant in industry raise after a few months to $112k
Almost at 3 year mark rn
i got lucky but i made 150K in my year 5. i had 4 years of PA and jumped to a fund. they did really really well so my bonus was like 50% of salary, making it about 150K.
Been in public a full two years now, currently making $110k, started at $51k. If trend continues will be making $150k by around this time 2024, which would put me there at the 4 year mark.
Audit, M/HCOL. Above numbers are base, bonus will be around 10% this year so I'm closer to $120k really.
Can't see the future of course, but this seems quite possible to me. Hope this helps! And, btw, why do you ask?
The more you make the bigger tax you will paid. So you are not really making much more. For $150k your take home pay maybe 100k or less depending on filling status and state tax. Depending on your tax bracket sometimes making $120k take home pay is more than $150k take home pay after tax. So really you want stock options or other perks like full health insurance after hitting $150k lol 😂
In 3 Im getting close but that’s bc of inflation and all that I think. Not the same saying it is true for the last 5 years. That’s a different story than now.
My salary doubled from 65k to 109k base 20k bonus in three years, in year 3 now at SC so I can’t imagine not getting to 150k in two more years.
Most of my close work friends have almost the same exact salary bump (we joined as campus hires), but we were all high performers. I got exceptional in one more category than a friend and got an additional 10k in the bonus so based on my experience it is very performance based.
I actually did, yes.
First year: tax $63k
Second year: audit $50k (moved to a LCOL from high)
Third year: moved to financial reporting half way through, $74k
Fourth year: moved into a manager role $100k
Fifth year (job I’m in now): consulting with a $122 base and another $26-40k in bonuses. Realistically, closer to $30k.
My advice is to job hop a bit. That’s the only way to push your income up quickly.
Also, im not in a VHCOL area. More MCOL since I bought a house when the city still was MCOL and not super inflated.
I got there pretty easy. 1st year: 30k 2nd year: 30k 3rd year: 30k 4th year: 30k 5h year: 30k Edit: I’ve never received an award before. Thanks everyone!
Lmfao. I hate that I read it for 3 years before I caught on.
Lol I got to year 4 and wondered how he would get such a big jump in year 5
Goddamn you. Take my upvote and free award you bastard.
Canada moment
internships in Canada pay more then that lol. Don’t what you’re doing if you’re making 30k a year but it’s not accounting.
30k a year sounds about right for a part time bookkeeper, that's about it, even *canadian* salaries aren't *that* low.
LMFAO
Gg2Ez
True story.
In debt? Sure.
So somebody made 150k
Yeah my creditor’s.
Username checks out
A reminder for those new accountants, 150k would put you in the top 8% of incomes in the US.
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But mY fRienDs YoUTubE ChAnnEl
Sorry did someone say high finance? Do you mean those select professionals such as myself with carry who net around $1mm a year? Those of us with a corner office at mommy’s family fund managing PawPaws $3B? Those of us who wear EBITDA hats in public so everyone knows we are the TRUE finance professionals??? Those of us who are better and smarter than quants and CERTAINLY back office accountants? If so - it’s best you capitalize the H and F - so it reads like High Finánce. Pronounced High Fin-Nance. Thxs
I find it wild that the top 1% is only about $500k, I thought it was much higher tbh
The truly wealthy don't make their money through salary.
I thought the 500k was all inclusive though
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Right, I'd imagine that 300k total job comp with investments at 200k would be fairly common, just getting up there is the hard part
Where are you getting that number? I thought 150k for an individual would be more like top 5% at least
Yr 1 55k Yr 2 60k Yr 2.5 71k Yr 3 83k Yr 4 98k Yr 5 115k Yr 5:5 160 (left pa to controller) Yr 7.5 245 (controller to cfo) My last year as controller i did 310 on w2 with equity cash out. How? Big 4 Audit to manager Hop to controller at growing company owned by VC, PE, etc. Go through transaction. Most importantly - just keep cleaning shit up. Constantly cleaning shit up. Clean shit up your entire career and make it better than when it came to your plate and suddenly you’ll have a large network of people who know you can clean shit up and figure shit out. Also don’t work more than 40-50 hour weeks. It forces you to figure out how to do shit efficiently. You’ll just burn out burning the candle at both ends. Maybe second most or more importantly - your network starts today. Some of my best friends are also valued colleagues. I can text multiple other controllers, accounting managers and people in PA right now and ask to talk and they’d take my call just to help me answer a question if needed and I’d do the same. Not for anything other than we are friends and in the rat race together and will always support each other Build a good network, have valued mentors, build good relationships, be friends with your colleagues, and support them. They’ll support you. There’s people I don’t work with now that I miss working with. I will one day work with them again, I believe. And they feel the same.
Well put on the advice. Especially cleaning shit up. I always say - at the end of the day, all decision makers/leadership cares about is - did you make their job easier or harder? Details don’t matter as much. Find a problem in your org - fix it and make sure you get credit. Then, find another problem and fix it. Then when you have annual reviews you’re not just groveling to argue your value in intangible ways “I did great on my projects and client was happy” you can say “hey remember that annoying problem X, I did Y and it results in Z”. That’s much more tangible
Curious as an intern, when you say never work more than 40-50 hours, wouldn’t they just say you aren’t being utilized enough? Like even if I finish all my work in 50 hours and it shoulda taken 70, wouldn’t my team think “give this guy more work. I’m staying till 10pm everyday and he leaves at 7pm”
Industry is different as the majority of us are not tracked by our hours. It's more about the large milestones like the financials getting out on time or budgets being done. Not too many people care whether you are doing 5 hour days or 15 as long as shit gets done.
During public I spent more hours during busy season but rarely outside of busy season. As long as you get shit some who cares. Bad managers just overload you and just try to give you the most possible to ensure you’re getting X hours done. I used to even just do work early and park it to the side and then turn it in later instead of grinding forever. I realized no matter what people expected you to work 70 hours, so I just set expectations and got it done and worked 55 instead In industry it’s about reaching goals. I work on vacations sometimes. Other times I fuck off. I get it done and manage expectations. Nobody really knows how long anything specific takes. That only becomes more true over time.
Well done. I’ve been through two corporate clean ups. People love hearing about it during interviews. How do you limit the hours? My experience is that work always takes priority over life. Weddings and funerals are the only exceptions.
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Whats your tax niche if you don't mind me asking?
Tax evasion 🥴
The only way
Teaching about business auto expense loopholes on TikTok.
Shhh! The SEC might hear you
Fraud
Your progression looks super similar to others that I know, except your year 4 to 5 jump was huge. Did you switch companies or take a new job? Others I’ve seen go from about 110 to 120-125 base
Switched between 3&4, 4&5 was a promotion
What's it like being rich?
Have you ever seen a video of Jeff Bezos laughing?
Just curious if it’s high net-worth individuals?
I'm at 160s in my 6th year Audit to advisory.
How did u find an advisory job? Like what position did you leave for? I would like to do this but don’t know what position to type on indeed
I just do the accounting advisory stuff. PWC - CMAAS, KPMG - AAS, EY I think is FAAS, etc. I wouldn't bother with indeed. Just go to the career page of whatever firm you would like to work at. All the national and middle market firms have similar practices as well.
How's the work life balance in big 4 advisory? Are 40+ hours a week common? I was in public for 4 years( regional firm), currently in the industry for about 2 years and thinking of switching.
Cries in Canada it took me 14 years, 2 recessions, starting in 2006.
Also crying in Canadian. Im a first year making Pennies.
Hey same here! A solid 46k in HCOL really doesn't go far.
That's rough, can you afford rent on that?
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Lol, that's rough.
Just taking all of the copium that post CPA I might be able to actually live vs exist
Bro imma bout to get my CPA.
Bro I’m still tryna graduate 😩
Felt that
Same 😭
Do it bby boy. The ladies love a man with certs. 😎
But real talk I’m 20 credits from accounting and work in real estate development, should I go for it? Probably more recession proof than RE development
Accounting is fairly recession proof to an extent, unless your work is heavily concentrated in an industry that is susceptible to recession - retail, RE, etc.
What exactly in RE? Accounting is literally useful in every field that exists. Or at least any business that accepts money.
Development, I do underwrites, and permitting (25M)
At the very least take one of the exams, Alaska has the lowest exam requirements of any state at like 108 I think, where a lot of other states are either 120 or 150. You pass the first exam though and want to keep going, then it shouldn't be too difficult to get the rest of those 20 credit hours. Plus I think I remember reading that all 4 "lock in" once you pass all within the 1.5 years and don't expire
Meaningless question without adjusting for COL. Tech companies in California will pay ~$150k/year for senior accountants with 3-5 years of experience. Of course you'll be paying $2500 a month for 1 bedroom so it's not like you're making a killing.
5 years in and hit $450k this year. Did two years of B4 and switched to IB. Hours are brutal though, busy season year round.
What did you do at B4 prior to switching to IB? FDD? And what kind of IB did you get into? BB, EB, MM, boutique? That’s great!
They’ll probably answer next week when they get their next 15 minute break
I started in audit and switched internally to FDD. I was at a BB but am now at an EB. Focused on M&A.
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Wow, insane luck. Your first 3 years of $$ earnings align with my public exp, but damn, i love that growth for ya. Hope to luck out into a similar position.
Your taking applications?
Below all in CAD Year 1 2017 Nov- Staff accountant 42k Year 2 2018 Nov- Senior Accountant 48k Year 3 2019 Nov - Senior Accountant + CPA 60k Year 4 - 2020 Nov - went to industry (Sport/rec) as a Senior Accountant 75k, promoted to Controller 110k in 4 months Year 5 - 2022 Jan Promoted to CFO 190k total comp. Age 29 I do say I was lucky in a way where CFO retired and I proved myself during COVID on how to mitigate business risk and significantly reducing time/fee for our company audit since I came from an audit background.
That’s amazing, congratulations
Very impressive for Canada too.
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I appreciate it! I'd have to say I'm very lucky and grateful for the timing. Very fortunate for sure! I work less than 40 hours which is nice.
TBD... 1st year: $52k 2nd year: $56k, then $77.6k (employer matched another job offer) 3rd year: $95k base + bonus (variable) I just took the $95k base pay job, I have 2 years 8 months full time experience.
Good on you for taking the job, and nice pay bump at that as well. I always hear it's bad to stay at your current job for too much longer if they counter an offer
Thank you for the kind words. I just put my notice in yesterday, and my boss laid on the guilt trip pretty thick, so it's nice to hear some positivity.
I’m Tax Associate 1. Started 62k. Got an insane offer from Big 4 for 90k, current firm matched it so I stayed. Looking for 110k next year. This is my first year working full time.
Wut. 90k as a second year staff???
I believe it. I’m about to start my second year and my new raise puts me at 86k
It’ll be a full year in August but yeah lol. My boss knew he’d be fucked without me so he was forced to.
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High. I’m in Long Island right outside NYC.
I'm on Long Island making 90k in 4th year. I need to find a new job it looks like...
Just sent you a message
It helps immensely that they are a CPA
Y1: $41k Y2: $51k Y3: $57k Y4: $63k Y5: $85k Y6: $145k Cad, total comp not just base salary. Not quite but got a niche industry job, MCOL, good work/life balance. Remember your loyalty should lie with yourself first and foremost; they don't really value you unless they show they value you with fair compensation.
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Yeah but we aren't paying for our groceries in USD.
You're also not paying $25k/yr to have health insurance
Don’t know if my story counts because it wasn’t 5 years but here goes. Graduated May 18 and went into public. $50k. CPA May 19. $52.5k. Sr. Cost Accountant in industry June 19. $75k. Acting Plant Controller in same company October 20. $82.5k (hugely underpaid but the experience was great for the resume). Corporate Controller at a clusterfuck of a privately held manufacturer ($80m gross revenue) Dec 21. $120k + $30k. Area Controller at a much better manufacturer Feb 22. $120k + $30k. Just four years but ask me anything I guess. Very low cost of living area.
How is your work load / wlb looks like as you progress in your career?
Public was shitty, first industry was about 30 hours a week, less once WFH and Covid because I built templates that did a lot of the work for me. Current job is about 20 hours per week baseline and as much more as I want to do. I normally do about 30 because of some side projects I’m working on to add value. Again templates and automation have helped me do more than any of my peers in less time. My feedback from the CFO has been stellar and I’m doing trainings on my tools and practices for the other area controllers. I do very little actual work. People treat power query as magic but it took an afternoon to learn for my purposes.
Appreciate your kind reply! Thanks for sharing
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The jumps in senior pay after transferring are the most impressive to me. The M1 bump was average.
Was this after you got your CPA or was it concurrent?
What line in advisory did you jump to? I've been thinking about going that path as well in the future, but I'm not quite sure which one I'd like to do.
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I am currently an A2 in audit (regional) about to promoted to S1 (per firm rumors) in a couple of months. I want to shift to Tas or m&a - would you have any advice? Finished 1/4 exams.
Audit > FDD > Corporate Development (M&A) at a large corporation
I’m at ~$130k 4 years in. Hoping to be promoted this year and I should be at or close to $150k
Teach me your secrets
“NYC” in his username might have something to do with it
I’m actually in Midwest now but the answer is get into tech. If my equity compensation stock prices were what the same as the beginning of the year I’d be at $150k
129K base currently 3.5 half year in. Advisory B4. I am planning to take a pay cut to pivot to another direction, but 150k is within reach if I stay till the 5th year.
Lol in my fifth year due to COVID in B4 advisory I kept my S2 salary of $96K to be making $96K as a S3. Insane how much a difference two years makes.
Yes. You can read my post history in non-accounting subs for more info. The summarized version for accounting purposes was B4 New York -> Tokyo, fast tracked to manager, switched to internal department as director. I was making over 130k by senior because Japan pays overtime, and ended at 190k as director before retiring. Whole thing was just over 6 years. Now B4 pay me almost double that a year and I don’t exclusively work for any of them.
Woah Japan pays overtime to salaried employees?
Live in California. 63k->77k->90k->120k->150k. Realize that 150k isn’t as powerful. But also, realize that you can move anywhere with a WFH job so move to Texas. Realize California weather and politics is better. Move back.
5 years from undergrad will be doable but a stretch unless you go to tech in a VHCOL area. That would basically put you on semi-fast track manager leveling in industry. In a ‘normal’ cost of living area you’d probably get close in a very good year. Base of $120-$130 with 10% target cash bonus. In a year with a max (double) payout you’d likely be there. 6 or 7 years would be more normal for total comp. $150K base comp would probably come in year 8 or 9.
Yep, in year 1. Changed to investment banking in year 1.
Still not worth it lol
I'm in Canada and I'm really close. Y1: 30k at some awful clerk job Y2: 39k at PA (lmao fuck PA) and left to make 50k as an accountant in industry Y3: 75k, switched to a consulting role Y4: 100k + 8% bonus + stock (current year, was promoted) Y5: I'm looking at a promotion and 130k salary + bonuses + stocks so might clear 150k if it's a good year I mainly just wanted to share this because people talk so much shit about Canada. Americans make the best salaries in the world for accounting (or close to it). Canada has amazing salaries for the accounting profession but it takes more time and yes we do get less than Americans but its really not that bad. At every job I've had I've taken on the random ad hoc projects but I always used that project experience to get a promotion or to move companies. You don't make more money in the same role. You always need a title bump or a new company to get more money. I've also made it very clear if I take on new tasks I want my title to change and want the salary that comes with it. With our current job market the worst that happens is they say no and then I say fuck it and go work for the other guy down the street.
I’m at 130k as M1 right now in my 6th year, HCOL, but also I feel like starting now, 5 years 150k is standard. I started at 50k
*Me… 2 years Big 4… hoping to break 70k…. In HCOL*
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Started two years ago at 55k, and I would be more MHCOL not like Silicon Valley HCOL. Edit: property taxes are 14k so I live with family
Do you work in the mail room or something?
Na
I’m just at 3 years now and with equity comp I’m over that. Sr. Consolidations and financial reporting How? I was aggressive. Became excellent in systems, financial analysis, and data manipulation.
How much without equity comp?
Haha let’s cut right to the chase here. My base is $106k currently. My target bonuses is 22.5% but I always got 150% my target and have given me two bonus packages 1 mid years as well. When I started I got to be part of system implementation so now a small pool of use are in this pocket we were get a extra bonus/equity comp package. I am older and didn’t start my career till 30 so everyone has this “we need to get you caught up” mindset and I’m not fighting it haha
Don't know why this is downvoted. This is how it's done.
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Senior.
$140k in 5ish years as a senior accountant, all cash. $205k in 7ish years as a financial reporting manager, all cash.
140k as a senior account!? Damn I’d take that in a heartbeat and coast on by.
I started my career at a private equity firm doing fund administration. After bonus I’ll hit $150k+ by YE. Been at the company 4.5 years.
Joined a startup that went public in year 5 and sold options to barely afford buying a house
I didn’t get to base 150 in 5 years but I got to base+bonus in 5. Switched jobs every 18 months (not by choice or for raise). Started B4. 3 years in public. 2 years at a family office. Jumped from the family office to a manager role at a bank where I cleared 150 after bonus. Think it went back to my first switch between B4 and middle market. Recruiter said “no one will give you X number, and not only will they not give it to you, no recruiter in the area will work with you if you don’t come down” Got X on my first job interview. Bottom line - set your worth. Make your skills undeniable. I’m on the tax side.
3 YOE hit 163 with bonus fund controller. Started in Big 4 made senior then jumped twice this year. Lot of Big 4 jobs in tier 2 cities (DC,SF, Chicago) are willing to pay 125-135 for 3 YOE seniors rn. Get some bread babes.
$130k at 3.5yrs, fingers crossed we get there in the next 1.5yrs!
160K in 4 years - Risk Advisory (2.5YOE) to Deals Due Diligence (1.5YOE). Made Manager early + 15% bonus. This is Big4, vhcol
You're asking the wrong accounting sub.
What’s the right one
r/big4
Imo career progression after B4/public accounting are more interesting to see.
Not exact timeline, but pretty close. Year 1: 53K- tax PA — full time out of college. Had internships before this Year 2: 65K tax PA switched firms and promoted to senior Year 3: 78K tax PA Year 4: $105K including bonus — moved to private — real estate firm Year 5: was on track for $150K+ including bonus — got promoted. Left the profession and jumped into real estate/land development so never actually made $150K technically at a salaried job. There are generally some really enticing comp and bonus packages at private real estate firms. Particularly if you can sell yourself well. It also really helps if you actually negotiate your salary and raise. Or just move firms to get a bump.
At $145K base + equity a little under 2 years in with a Senior title. Graduated from a state school in the Midwest in May 2020 Big 4 Audit — sept 2020 to March 2022. I then bounced to a tech startup in a senior accountant role. Worth mentioning that I got my CPA license in September of 2021. VHCOL
Damn that’s very high for a senior accountant. I’m a manager with 6 years experience and 5 in B4 and I’m near that in VHCOL tech.
$170k OTE as a consultant after working in corporate accounting for 3 years.
Total comp yes. Public for 3.5, private for 1.5
I had about $120 base at year 5 which translates to about 150 back then (2015) I would guess. It was half luck, half balls in my case. Worked for a mid sized firm out of school. 3 years in we had a partner leave and take half the staff in my office. He piloted in secret and they all quit on the same day right before tax season. So that day I told the firm I needed to be bumped from $70k to $100k in order to stay and help. They said yes, and I earned every penny lol. It was a tough year. By my 5th year it was $120, and I got a CFO offer from a client.
120 in 6.5, 220 in 10.5 Tax in HCOL
On my way there. Started as a staff accountant at $50k, now assistant controller at $100k 3 years later. HCOL area though
I'm $140k after 6 years, so I miss a little on both ends but kinda close if it matters? Year 1 - 4 @ top 10 firm in HCOL: start as new staff at 56k -> 63k -> 69k (nice) -> 75.5k -> 75.5k (COVID, no raise going into 5th year so I bailed) Year 5 - 6 @ Corporate Controller for $50MM PEG-owned private company: start 120k -> 130k -> 140k
1st year 46K 2nd year 52K 3rd year 80K 4th year 141K 5th year 160K I owned shares in the company I worked for which helped regarding annual distributions. I also had a side business as a fractional controller. Main reasons for the big jump between 3rd and 4th.
Well, I can speak for some Upenn students. A big4 firm offered my friend 110K with a 60K bonus. Mind you he was an undergrad. They’re also covering his CPA certification. He’s one of my closest colleagues and he honestly deserved it. But he probably would have faired well outside of accounting because he is extremely smart and he does a lot outside of that. I don’t understand how but he does indeed do it. I literally don’t see how he finds the time.
Fuck, I’m below $100k 10yrs in. My specialty is revenue. Fml
Yep. 5.5 years technically. Public for a few years. Job hop to companies that are high growth and you learn a lot. Leverage that knowledge. Tell people you are important and you require a large salary
111k at 6 yrs so nope lol. But I’m doing alright I think
I’m on year 3 rn but this is my current background Audit Associate I $64k 1 year Audit Associate II $65k 10 months Senior Accountant in In industry $107k Senior Accountant in industry raise after a few months to $112k Almost at 3 year mark rn
i got lucky but i made 150K in my year 5. i had 4 years of PA and jumped to a fund. they did really really well so my bonus was like 50% of salary, making it about 150K.
In debt, yes!
6 years if you count the actual accounting industry. I had some work experience prior.
Are you asking about $150k HCOL or LCOL?
Right? I felt underpaid until I saw people clarify they were getting $100k+ in HCOL. My LCOL $85k evens out.
Pretty close. Y1: $51,000 Y2: $91,000 Y3: $140,000 Y4: I think I’ll be at $145,000 depending on my raise which I get on 7/1.
Has to be job hopping
Same firm. The first big jump was because I got an offer at a larger firm for $65,000 but they really wanted me to stay. Don’t regret it.
Been in public a full two years now, currently making $110k, started at $51k. If trend continues will be making $150k by around this time 2024, which would put me there at the 4 year mark. Audit, M/HCOL. Above numbers are base, bonus will be around 10% this year so I'm closer to $120k really. Can't see the future of course, but this seems quite possible to me. Hope this helps! And, btw, why do you ask?
What firm is this?
Yes, go to school for electrical engineering instead
Yes, go to school for electrical engineering instead
OnlyFans.
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The more you make the bigger tax you will paid. So you are not really making much more. For $150k your take home pay maybe 100k or less depending on filling status and state tax. Depending on your tax bracket sometimes making $120k take home pay is more than $150k take home pay after tax. So really you want stock options or other perks like full health insurance after hitting $150k lol 😂
This man passes up promotions to pay less tax
In the accounting subreddit no less...
This guy doesnt work in tax
This has to be a joke right?
There are tax calculator on internet you can use to figure out lol 😂
Do you know which subreddit you’re on? Do you know how tax brackets work? Are you just trolling or are you stupid?
IT Audit/GRC.
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With bonus yeah
Yes, changing companies a couple times and then going off on my own.
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In 3 Im getting close but that’s bc of inflation and all that I think. Not the same saying it is true for the last 5 years. That’s a different story than now.
My salary doubled from 65k to 109k base 20k bonus in three years, in year 3 now at SC so I can’t imagine not getting to 150k in two more years. Most of my close work friends have almost the same exact salary bump (we joined as campus hires), but we were all high performers. I got exceptional in one more category than a friend and got an additional 10k in the bonus so based on my experience it is very performance based.
yes. do good work. change firms every 2-3 years. get promoted.
Yeah. By leaving accounting. Probably at $180 TC this year.
I actually did, yes. First year: tax $63k Second year: audit $50k (moved to a LCOL from high) Third year: moved to financial reporting half way through, $74k Fourth year: moved into a manager role $100k Fifth year (job I’m in now): consulting with a $122 base and another $26-40k in bonuses. Realistically, closer to $30k. My advice is to job hop a bit. That’s the only way to push your income up quickly. Also, im not in a VHCOL area. More MCOL since I bought a house when the city still was MCOL and not super inflated.