Here’s Your Open Thread for KPMG Compensation Discussions (2014)
We have held off on this one as long as we can, but some of you are anxious to get the results from our Compensation Survey and the only thing holding us up is this here compensation discussion. So let's get to it! Since compensation season kicked off, we've learned that accounting firms are having […]
IMA Survey Shows Men Make More Than Women and Certifications Matter
The Institute of Management Accountants salary survey came out yesterday, and you should check it out if you're into that sort of thing. Quickly while we're on the topic of salary, consider this your friendly reminder that the Going Concern Compensation Survey is still open and it would be great if you can take a […]
BDO Boasts Massive Revenue Growth in Fiscal 2014
Of course, there is an accompanying press release to go with the good news: BDO USA, LLP, one of the nation's leading professional service organizations, today announced revenue for the fiscal year ended June 30, 2014 was $833 million, a 22 percent increase from last year’s revenue of $683 million. The firm's growth was achieved […]
Comp Watch ’14: Here’s Your Open Thread For McGladrey Compensation Discussions
We're coming straight out of Comp…ensation today with word that McG is joining the comp party with talks that started late last week: I just wanted to mention that McGladrey has started their compensation meetings so you may want to create a thread at this point. Consider your wish granted, young man. Two things: this […]
Consultant Shares Secrets For Milking the Most Out of CPA Firm Staff
It isn't enough that you give your heart and soul or at least most of your billable hours to the firm for which you work, but you are also expected to go above and beyond by bringing in that cash money, son. The Rosenberg Associates ("Consultants to the CPA Industry") wrote a blog post meant […]
Accounting Grads Can Expect to Make About $53K Out of School
The average starting salary for students graduating this year with a business major – including accounting – has declined slightly over the last year, according to the latest salary survey from the National Association of Colleges and Employers (NACE). Students graduating in 2014 with a bachelor’s degree in accounting can expect an average starting salary […]
The More Money Your Parents Made, the Less Likely You Are to Become an Accountant
We'll file this under "Things You Probably Already Know" but found this bit over at Above the Law and wanted to share with the class: I think we’ve long known that law is a refuge for people who are afraid of numbers. People who are good at math don’t borrow hundreds of thousands of dollars […]
According to this Chart, You Really Don’t Make That Much Money
Who wants to talk about money? Our favorite subject! As we all know, most of you do pretty well for yourselves even fresh out of college (this Redditor being the exception, as she's pulling in just $48k with a CPA on her sixth busy season OUCH) but just how well do you think you're doing […]
Help, My Friend at EY Makes More Money Than I Do at KPMG
You could go ahead and substitute any firm for any other firm here, but for this particular reader question, it’s KPMG v EY. Let’s make a little popcorn and see what’s going on: Hello, I hope you’re well. So about a month ago, I heard that EY gave second round raises to the entire West […]
Try Not to Hate on This 2013 Stanford MBA Graduate Making $522k Out the Door
Perhaps you've come across this report already today, which I figured I should share because we all love money AMIRIGHT and you guys are always so concerned with salaries while seeking career advice so let's talk about what a Stanford MBA can make based on Stanford's recently published employment report for the Class of 2013. […]
Any Lobbyists Out There Lose a Large Bag of Cash on the Hill?
pic via Charlie Spiering According to Capitol Police, the cash is REAL. Don't get too excited though, it was a stunt by an anti-GMO activist group, three of whom are in custody. We'll send a prize to anyone who can count how much money is there (mostly $1s, according to a witness).
Survey: CFOs Digging Deep Into Bag of Tricks to Attract Talent
In an unexpected revelation, an Accountemps survey found that CFOs plan to offer more money and better benefits to attract professionals with "in-demand skills." Of the 2,100 finance chiefs surveyed, 46% are improving benefits and 45% are boosting compensation. In an earlier survey, Accountemps found that CFOs are on the lookout for professionals with "[g]eneral […]
AICPA Announces International CPA Exam Locations
Have you, like many foreigners, been tripping about getting into the US to take the CPA exam, battling with strict post 9/11 Visa rules and other assorted red tape? Trip no more, the CPA exam is about to go international. This is huge because the exam is also about to get an international makeover (like IFRS testing in FAR and international audit standards in AUD) but that couldn’t at all be coincidentally related to this announcement from the AICPA:
The Uniform CPA Examination will be offered outside the 55 U.S. jurisdictions for the first time in its history in 2011. The American Institute of Certified Public Accountants, National Association of State Boards of Accountancy and Prometric – the three organizations that jointly offer the CPA Examination in the United States – reached an agreement to administer the exam in international locations.
The CPA Examination next year will be offered in Japan, Bahrain, Kuwait, Lebanon and the United Arab Emirates.
The international exam will be the same as the one offered in the U.S., using the same computerized format and administered in English. As in the U.S., the purpose of taking the examination will be to qualify for licensure as a CPA through U.S. state boards of accountancy.
Security has been one issue for the AICPA in deciding where to offer the CPA exam even though it will continue to administer the exam through Prometric. International testing will be subject to the same state board or jurisdiction rules that determine eligibility for CPA exam candidates since there is no Dubai Board of Accountancy. Just as now, potential international candidates will have to meet the requirements of whichever jurisdiction they choose to apply. Which I guess makes all the residency-requirement states out of the running to be a part of this epic new spin on the computerized CPA exam?
Some have mentioned on earlier bitch sessions about the AICPA that their motivation is a monetary one. Expanding membership, for example, brings in revenue. Increasing the passing CPA exam score (thereby causing more failures and, one would imagine, more subsequent $$$ retakes after) is another example though that’s just a rumor last I heard. So if one were inclined to postulate as to the motive behind this move and approach it skeptically, you might come to the conclusion that this could equal a pretty significant payday for the AICPA as well as NASBA, Prometric, ChoicePoint and all the CPA review courses who make a living off of this exam. I’m not against it.
I guess we will find out what significance the U.S. CPA exam still holds for the rest of the world. Even if we end up looking pretty bad when international candidates do way better on the AICPA’s new international exam content in 2011.
Accounting Salaries Mapped by Region
Back again to decipher more of the data that you so graciously shared with us on our salary thread from December.
After noting that average Big 4 salaries and non-Big 4 salaries were essentially even, we now present the average regional salaries for you enjoyment or dismay:
• Mid-Atlantic– $88,831
• Northeast– $72,024
• Southeast– $56,000
• Midwest– $65,124
• Southwest– $73,185
• West – $64,706
Some analysis and the map, after the jump.
Surprisingly the Mid-Atlantic boasted the highest average salary based on the data collected. This was due primarily to two salaries that were reported from “JDs” working in “Washington National Tax.” The Mid-Atlantic average also included an Associate Director that reported a considerably higher salary than the average. If these three salaries are removed, the average salary is $76,254. which may be more in line with your expectations.
Another surprise that we saw was the higher than expected Southwest average salary. Again in this case, a brave Senior Manager in an advisory practice reported a much higher salary than most submitted. When this is removed the Southwest average comes down to $68,134, again, probably closer to what you would expect.
The Northeast, Southeast, and West all seem about right to us although we might have expected the West salaries to be a bit higher but then again we’re going with what we’ve got.
The map below shows how we grouped the states in the respective regions, with a few additional details on the regions.