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Starting Salaries for Accountants
Posted on 9/6/10 at 9:48 am
Posted on 9/6/10 at 9:48 am
Anyone have a good idea on starting salaries for accountants? I've researched on the net and have seen anywhere from $38,000-$55,000.
To give a little background, I have an undergrad in Accounting (3.5 GPA) and an MBA with concentration in Finance (3.9 GPA). Most of my experience is in a family business and consists of some accounting (financial statements, cost accounting, etc.), lots of management, and basically daily duties in running a business. I have been out of school for about 6 years and have basically worked solely for the family business.
To give a little background, I have an undergrad in Accounting (3.5 GPA) and an MBA with concentration in Finance (3.9 GPA). Most of my experience is in a family business and consists of some accounting (financial statements, cost accounting, etc.), lots of management, and basically daily duties in running a business. I have been out of school for about 6 years and have basically worked solely for the family business.
4
Posted on 9/6/10 at 9:54 am to JasonL79
Posted on 9/6/10 at 10:06 am to NC_Tigah
That seems very low for a base salary.
I would expect a Big 4 firm to start at about $45,000 plus benefits.
I would expect a Big 4 firm to start at about $45,000 plus benefits.
Posted on 9/6/10 at 10:22 am to lynxcat
I know KPMG starts between 45-55, depends on COL.
Posted on 9/6/10 at 10:23 am to lynxcat
quote:
Big 4 firm
Pardon my ignorance here, but what is a Big 4 firm?
Posted on 9/6/10 at 11:14 am to lynxcat
quote:Right.
would expect a Big 4 firm to start at about $45,000 plus benefits.
There are a range of starting level jobs listed there ( LINK) i.e., Beginning Tax Accountant ==> $45K
Posted on 9/6/10 at 11:21 am to NC_Tigah
Speaking from experience here, I would say that the 45k number, at least in La, is a good number. B4 are prob going to be more like 50, but they're getting that extra 5k out of you for sure.
Posted on 9/6/10 at 1:57 pm to kfizzle85
quote:
but they're getting that extra 5k out of you for sure.
?
Posted on 9/6/10 at 2:06 pm to JasonL79
quote:
?
in a B4 you are working much more grunt work and much longer hours for a longer time than you would with a smaller firm.
Posted on 9/6/10 at 2:12 pm to Alabama Slim
quote:
in a B4 you are working much more grunt work and much longer hours for a longer time than you would with a smaller firm.
Got it. I'm not used to all this abbreviated internet talk.
Posted on 9/6/10 at 2:55 pm to urinetrouble
quote:
Pardon my ignorance here, but what is a Big 4 firm?
The Four biggest worldwide accounting firms.
Currently -
KPMG (formerly Peat Marwick)
Ernst & Young
PriceWaterhouseCoopers
Deloitte & Touche
It used to be the Big 8. Then they all started merging (e.g., Ernst & Whinney and Arthur Young became Ernst & Young, Coopers Lybrand and Price Waterhouse became PriceWaterhouseCoopers, and Deloitte, Haskins & Sells & Touche Ross became Deloitte & Touche).
Posted on 9/6/10 at 4:38 pm to JasonL79
Also depends on what type of accounting you are doing. Public vs. private.
Posted on 9/6/10 at 4:41 pm to JasonL79
$38,000 - $55,000 seems like the correct range... that high end represents Big 4 starting salary plus bonus, in a major market.
Are you really looking for a starting position though with your credentials and experience? You'd have to start on bottom at in public accounting, but you might be able to lever up to a higher position in industry.
Are you really looking for a starting position though with your credentials and experience? You'd have to start on bottom at in public accounting, but you might be able to lever up to a higher position in industry.
Posted on 9/6/10 at 5:03 pm to tigers444
I have tried in the past to get hired on by the Big 4 and could never even get an interview. Same with some of the other regional firms.
Tried for a few months at a time (tried two to three times in 6-7 years for a month or two each time) during the 6-7 years I worked with the family business. It was easier to make more money at my family job than starting out accountants made and I found it hard to get interviews, so I kind of pushed it off after a while.
Tried for a few months at a time (tried two to three times in 6-7 years for a month or two each time) during the 6-7 years I worked with the family business. It was easier to make more money at my family job than starting out accountants made and I found it hard to get interviews, so I kind of pushed it off after a while.
Posted on 9/6/10 at 5:08 pm to sneakytiger
quote:
Are you really looking for a starting position though with your credentials and experience? You'd have to start on bottom at in public accounting, but you might be able to lever up to a higher position in industry.
I'm just looking for a start somewhere really. The industry I was in before is not in the best shape right now. I have applied a lot of places recently but mainly with accounting and my previous industry (food & seafood wholesale distribution). Should have some interviews set up next week with accountemps/robert half finance for accounting.
Posted on 9/6/10 at 5:12 pm to JasonL79
It would definitely help if you knew someone there. Not saying that it's not possible without knowing someone but it definitely helps.
You could try starting at a CPA firm to build your resume in public accounting and then applying again for a Big 4 firm if that's what you really want to do.
Not saying that it's not possible without knowing someone but it definitely helps. You could try starting at a CPA firm to build your resume in public accounting and then applying again for a Big 4 firm if that's what you really want to do.
Posted on 9/6/10 at 5:21 pm to tigers444
If you don't mind me asking, where are you and where'd you go to school? The B4 tend to stick to their pipeline of grads straight out of college (because they know they can treat us like shite lol). So if you're submitting resumes to the B4 online it may not even be making it through.
This post was edited on 9/6/10 at 6:07 pm
Posted on 9/6/10 at 5:41 pm to sneakytiger
quote:
If you don't mind me asking, where are you and where'd you go to school? The B4 tend to stick to their pipeline of grads straight out of college (because they know they can treat us like shite lol). So if you're submitting resumes to the B4 online it may not even it be making it through.
I'm living in Baton Rouge right now but am thinking hard about moving back to New Orleans. I am originally from the New Orleans area and moved to Baton Rouge due to Katrina.
My undergrad is from Our Lady of Holy Cross College in Algiers and my MBA is from UNO. I've tried to fax resumes, email (called office and got recruiting person's email), and also through online. I tried to walk into a few of them to hand my resume but the ones I went to didn't take walk ins for appointments.
I know that me being out of college for 5-6 years is going to hurt me. THe only thing I have going for me is that I have real world work experience compared to a person coming fresh out of college. Hope that will help me atleast.
Posted on 9/6/10 at 6:20 pm to JasonL79
That's more relevant to industry and much less relevant to PA, IMO. PA wants to know that you know accounting, period. I would highly, highly suggest that you try and start the CPA as soon as possible. The easiest way to prove to someone that you know your shite is to pass the gatekeeper. I would also concentrate on local and regional places, B4 is going to be extremely tough to crack.
Posted on 9/6/10 at 6:54 pm to JasonL79
In a Big 4 firm you will be expected to have at least 1,800 billable hours at the staff level. It is more likely that a first year staff person will have in excess of 2,000 billable hours if they hope to advance rapidly with the firm. This is in addition to all sorts of training on firm methods and practices as well as preparation for the CPA exam. Since a 52 week work year consists of 2,080 hours without vacation or holidays, it means a lot of overtime.
Speaking from personal experience I billed out about 2,200 hours my first year, and over 2,500 hours my second year in the tax department of Arthur Andersen's San Francisco office. The overtime pay was very useful in helping with the high cost of living in San Francisco.
Speaking from personal experience I billed out about 2,200 hours my first year, and over 2,500 hours my second year in the tax department of Arthur Andersen's San Francisco office. The overtime pay was very useful in helping with the high cost of living in San Francisco.
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