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Message
re: Oil & Gas Accountant Salary Question
Posted on 6/20/12 at 12:18 pm to lynxcat
Posted on 6/20/12 at 12:18 pm to lynxcat
quote:
At the end of the day, most accountants chose the career path for the "ability to have a more enjoyable social/home life" part of the job rather than the earning potential.
FIFY
1
Posted on 6/20/12 at 2:33 pm to LSUAfro
I guess im just used to these inflated O&G salaries. Thank god every day I went into engineering and got into the industry.
Posted on 6/20/12 at 2:43 pm to JasonL79
I would think $75K-$80K.
Do you steal food from the office refrigerator? Do you pitch in $$ for gifts, birthdays, etc?
If you are a decent guy and not a hunchback, it seems $69K is a little low.
Do you steal food from the office refrigerator? Do you pitch in $$ for gifts, birthdays, etc?
If you are a decent guy and not a hunchback, it seems $69K is a little low.
Posted on 6/20/12 at 2:51 pm to lynxcat
quote:
5 years B4 puts an accountant near or above the 100k mark
I'd be willing to bet less than 1% of accounting graduates make 100k 5 years from graduating
Posted on 6/20/12 at 4:09 pm to JasonL79
I wouldn't think $69k is that far off without a CPA. Once you get the CPA I would expect you to be closer to $80k.
Posted on 6/20/12 at 4:44 pm to yellowfin
quote:
I'd be willing to bet less than 1% of accounting graduates make 100k 5 years from graduating
I would be willing to bet that none of that 1% work for the big 4. Not knocking the big four. I did my time, just happy to be done.
and...
quote:
I guess im just used to these inflated O&G salaries. Thank god every day I got into the industry.
FIFY
This post was edited on 6/20/12 at 4:54 pm
Posted on 6/20/12 at 7:14 pm to Duck
I put in my 5 years at a Big 8 firm. When I left in 1994 I left for a tax director gig that paid me $90,000 plus bonus of at least $20,000 per year. I can't imagine that salaries haven't increased sginificantly in the 18 years that have transpired.
Posted on 6/20/12 at 7:14 pm to Duck
quote:
Cheap Market
Salary Bonus Total
1 A1 $50,000 $5,000 $55,000
2 A2 (10% raise; 10% bonus) $55,000 $5,500 $60,500
3 SA1 (20% raise; 5% bonus) $66,000 $3,300 $69,300
4 SA2 (12% raise; 10% bonus) $73,920 $7,392 $81,312
5 SA3 (12% raise; 10% bonus) $82,790 $8,279 $91,069
6 M1 (25% raise; 10% bonus) $103,488 $10,349 $113,837
Expensive Market
Salary Bonus Total
1 A1 $56,000 $5,600 $61,600
2 A2 (10% raise; 10% bonus) $61,600 $6,160 $67,760
3 SA1 (20% raise; 5% bonus) $73,920 $3,696 $77,616
4 SA2 (12% raise; 10% bonus) $82,790 $8,279 $91,069
5 SA3 (12% raise; 10% bonus) $92,725 $9,273 $101,998
6 M1 (25% raise; 10% bonus) $115,907 $11,591 $127,497
Decided to run some very quick best case scenario numbers. It is possible to hit 100k at the start of a 6th year in B4, but it will be very difficult. Unless someone is on the Partner track, then it probably isn't possible on the Audit/Tax side.
I imagine this is more attainable on the consulting side. Salary growth really separates after this point in time though.
Posted on 6/20/12 at 7:15 pm to Poodlebrain
quote:
I put in my 5 years at a Big 8 firm. When I left in 1994 I left for a tax director gig that paid me $90,000 plus bonus of at least $20,000 per year. I can't imagine that salaries haven't increased sginificantly in the 18 years that have transpired.
Sounds like you did very well for yourself on that exit.
Posted on 6/20/12 at 7:40 pm to yellowfin
What do you do now? I'm seriously considering 'getting out'.
Posted on 6/21/12 at 7:41 am to Eyeball
quote:
What do you do now? I'm seriously considering 'getting out'.
I own my own business, best move I ever made.
It's not accounting related either
Posted on 6/21/12 at 10:44 am to yellowfin
I have my CPA license and currently do work in public accounting (taxes, governmental auditing, etc) what would be the best way to get into an oil and gas accounting position? I've worked for 2 years out of college and have a masters
Posted on 6/21/12 at 11:56 am to Ford Frenzy
the longer you hang out in public the better industry job you can get, I'd give it a couple more years
get out of governmental, get assigned to oil & gas, manufacturing, oil & gas service companies...govt auditing only looks good if you want to work for the government
what size firm do you work for? big companies like big firm experience... any SEC?
and lastly....move to houston
get out of governmental, get assigned to oil & gas, manufacturing, oil & gas service companies...govt auditing only looks good if you want to work for the government
what size firm do you work for? big companies like big firm experience... any SEC?
and lastly....move to houston
Posted on 6/21/12 at 12:02 pm to yellowfin
Apply to 50 O&G companies in Houston, get a job, perform well and hang in there, profit.
Posted on 6/21/12 at 12:35 pm to yellowfin
quote:I'd try to get to at least the 3 year mark.
I'd give it a couple more years
quote:
get out of governmental
And don't look back
quote:
big companies like big firm experience... any SEC
GAAP application and SEC knowledge will be a common theme in interviews. Tack on specific O&G audit experience. You're in.
quote:BR>Houston
and lastly....move to houston
Posted on 6/21/12 at 1:01 pm to LSUAfro
quote:
BR>Houston
Posted on 6/21/12 at 1:48 pm to yellowfin
quote:very small, we do all the local governmental entities in our small town (city hall, DA, sheriff, clerk of court, etc.) it's just me and another CPA (my boss)
what size firm do you work for? big companies like big firm experience... any SEC?
Posted on 6/21/12 at 1:49 pm to Ford Frenzy
quote:
what would be the best way to get into an oil and gas accounting position?
In my case, I just lucked out. Got an interview through a staffing company and was hired. Learned a lot in the last year. Liquid accounting is a little different and there are lots of variables involved in it.
Posted on 6/21/12 at 2:09 pm to Ford Frenzy
quote:
very small, we do all the local governmental entities in our small town (city hall, DA, sheriff, clerk of court, etc.) it's just me and another CPA (my boss)
you need to get out of there asap, find a larger firm...especially if you plan to make the jump to industry
Posted on 6/21/12 at 2:26 pm to yellowfin
yea I know, I'm hanging around now because if I want to stay in the town (where I grew up) I could buy his practice when he retires as its very large for a single individual
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