Husband is CPA (self employed) but... (employment, profit, real estate, jobs)

[Bette]

Need info please -

My husband is self employed as a CPA in South Florida (Boca Raton). We work almost 7 days a week especially during tax time (now).

He just had a good client leave here who just obtained a job with a type of medical firm as a CFO making $240,000 per year.

Is this normal salary for this type of job which my husband could do? He has a CPA, MBA, all the CPE, etc.

I would be interested in hearing from executives or hiring managers.

Also, we would sell our business and would be able to relocate if needed

PS - I have gone on salary.com but I just need to know what might be out there in the real world. Thanks!

[johnycakes]

For that kind of scratch on a CFO spot, my guess is that it's probably a publicly traded company, which means whoever fills that spot has to be conversant with all the rules associated with the various SEC filings, plus issues dealing with restricted stock, as well as being able to advise the directors as to the best ways to obtain additional financing. This is probably quite different from what he's used to dealing with as a self-employed CPA. What kind of background did the client have who made this transition? Being a CPA is a good start towards making this kind of a jump, but I would think the CPA would have to have some meaningful experience in back of him that would make him a good choice for that kind of a job. And doing audits and tax returns for closely-held businesses, which is what most small CPA firms do, is not likely to make a convincing case all by itself.

[SOON2BNSURPRISE]

I work for a hospital and have a great working relationship with our CFO. I also am working on completing my MBA and will be working on sitting for the CPA later on as well. The reason for adding the CPA to my resume is because of working with our CFO. We are a not for profit healthcare organization with a 240 bed hospital and a 90 bed hospital. Along with that we have 9 county wide clinics. The organization also owns medical office buildings and other real estate holdings, plus has $90 million invested in other areas. Our CFO brings in around $220,000 a year and we are in Southern California.

Something that may be of interest is that because of Sarbannes - Oxley Act many hospitals allthough not required are paying to become compliant. What that means is more employment opportunities for those in the accounting trade. An individual with a MBA and a CPA will do great in healthcare. Auditing is a big part of this and less so on the tax side then a self employed CPA may deal with. With our hospital we are paying $1 million a year toward the auditing function of things. Our CFO doesn't do the hands on, but those that do work for him. We have several other CPA's that handle different aspects of this work and some of them are waiting for the chance to move up the line.

My thought is that there are plenty of opportunities within healthcare for someone with an MBA and a CPA. Not sure what the payscale would be in Boca big bucks Raton as a good friend used to call the place. Chances are you are like us on the west coast, high paying and high cost of living. I know of jobs in Arizona that they are looking for and MBA with a CPA and are paying $90 to $120 thousand, but then the cost of living is less and the homes are a third the cost that they are in California. So it just depends what you want and where you want to live.

[Donna7]

Originally Posted by Bette

Need info please -

My husband is self employed as a CPA in South Florida (Boca Raton). We work almost 7 days a week especially during tax time (now).

He just had a good client leave here who just obtained a job with a type of medical firm as a CFO making $240,000 per year.

Is this normal salary for this type of job which my husband could do? He has a CPA, MBA, all the CPE, etc.

I would be interested in hearing from executives or hiring managers.

Also, we would sell our business and would be able to relocate if needed

PS - I have gone on salary.com but I just need to know what might be out there in the real world. Thanks!

I'm not a hiring manager, but when I was employed at a Big Three accounting firm, my boss, who was a senior manager with 10+ years of CPA experience (and found out that he was not really on the "partner track" in spite of his many years of working as hard as your husband does), ended up with employment as CFO for one of the companies he did audit work for. He didn't share with me his salary (nor would I expect him to), but I'm sure that it was in the six figures.