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Old 05-24-2009, 08:36 AM
 
324 posts, read 794,830 times
Reputation: 201

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Ok so I'm studying towards an accounting designation.

I have googled the salary range. It is so wide that its so useless. I need "real life" accountants to chime in about salaries.

So, once I get my designation, how much should I expect as starting pay?

How long does it take before I make the "glorious' $100K a year.

How difficult is it to start off at a big 4 & would you encourage this?

Or would you rather roll with an MBA after all?

MBAs please tell me about the "glorious' $100K as well. How long?

ps: I have no work experience.

I was thinking of doing my accounting designation, then once I have it, do MBA @ top school. I'm sure Harvard wants to grab CPAs ? Any thoughts?
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Old 05-24-2009, 10:38 AM
 
2,365 posts, read 10,478,692 times
Reputation: 692
Well, I personally don't know.

One of my sisters got her economics degree, then went to work in a management grooming program with a bank in New York. She worked there for 4 or 5 years. Then she applied to Harvard and Stanford for their MBA program. She got accepted at both. She chose Standford, because they were giving her more money. She finished and worked for a big Retail company. Then an entreprenuer dot.com company that went belly up. And now she is with another Big retail company but not as big as the first one, since it is a different model. She makes over a 100k. It took about 8 to 10 years. Where on the other hand my other sister went to a top law school and was making 100k a year later.

Not every accountant makes good money. Depends on their undergraduate degree, the school, their first job out of school; then whether they have a MBA, and which school they got their MBA and then which company they got their first job.

Where you end up, depends often on where you position yourself in the beginning. For some it happens immediately, some it takes a long time, and some it never happens.

That is why school, internships and if the company has a good and respected grooming program is important.

hope this helps and good luck!

Last edited by gea12345; 05-24-2009 at 11:31 AM..
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Old 05-24-2009, 11:36 AM
 
2,365 posts, read 10,478,692 times
Reputation: 692
In my search to answer my international legal job question below, I ran across this link, which may be helpful to you, in terms of finding a good starter job or internship.

IPSASB Releases 2009 Handbook of International Public Sector Accounting Pronouncements (http://www.ifac.org/MediaCenter/?q=node/view/637 - broken link)

(www.ifac.org)
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Old 05-24-2009, 01:21 PM
 
2,365 posts, read 10,478,692 times
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I am still searching the answer to my question and came across an article to help those with your same question:

: Kellogg serial | The Economist
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Old 05-24-2009, 02:18 PM
 
Location: NW San Antonio
2,953 posts, read 8,769,633 times
Reputation: 3221
It has a lot to do with the age old statement of:

Location, Location, Location!

The City and State you work in play a big part in what you will earn and how long it will take you to earn 100k per year with an MBA. Friend of mine's son graduated from Georgia Southern University, MBA, 3.86 GPA, he started out with Pricewaterhouse, 65k, immediately, they hired him directly out of college in 2005, got him interned for 2 years, then in late 07, raise of 12k, and mid 08 told him that the market was going to go down, and they were going to start laying people off. He got another job offer before the 6 months was up, local company there in GA, making roughly the same, 65k, again, 3 years experience after college, with an MBA.
But, again, Location, Location, Location. where you is, is what it is.
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Old 05-24-2009, 04:40 PM
 
324 posts, read 794,830 times
Reputation: 201
Quote:
Originally Posted by gea12345 View Post
Well, I personally don't know.

One of my sisters got her economics degree, then went to work in a management grooming program with a bank in New York. She worked there for 4 or 5 years. Then she applied to Harvard and Stanford for their MBA program. She got accepted at both. She chose Standford, because they were giving her more money. She finished and worked for a big Retail company. Then an entreprenuer dot.com company that went belly up. And now she is with another Big retail company but not as big as the first one, since it is a different model. She makes over a 100k. It took about 8 to 10 years. Where on the other hand my other sister went to a top law school and was making 100k a year later.

Not every accountant makes good money. Depends on their undergraduate degree, the school, their first job out of school; then whether they have a MBA, and which school they got their MBA and then which company they got their first job.

Where you end up, depends often on where you position yourself in the beginning. For some it happens immediately, some it takes a long time, and some it never happens.

That is why school, internships and if the company has a good and respected grooming program is important.

hope this helps and good luck!

You can say the bolded agian! Thanks a lot Gea. You are a star!
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Old 05-24-2009, 04:46 PM
 
324 posts, read 794,830 times
Reputation: 201
Quote:
Originally Posted by sinsativ View Post
It has a lot to do with the age old statement of:

Location, Location, Location!

The City and State you work in play a big part in what you will earn and how long it will take you to earn 100k per year with an MBA. Friend of mine's son graduated from Georgia Southern University, MBA, 3.86 GPA, he started out with Pricewaterhouse, 65k, immediately, they hired him directly out of college in 2005, got him interned for 2 years, then in late 07, raise of 12k, and mid 08 told him that the market was going to go down, and they were going to start laying people off. He got another job offer before the 6 months was up, local company there in GA, making roughly the same, 65k, again, 3 years experience after college, with an MBA.
But, again, Location, Location, Location. where you is, is what it is.

Thanks Sinsativ!

Wow, thru my lil research I found the big 4 paying $30,000 start but that was for undergrad. No clue what they offer for MBA.

So this guy, it was his first job? WOW!
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Old 05-24-2009, 05:16 PM
 
2,365 posts, read 10,478,692 times
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You're welcome and thanks!

Here are two more appropos links:

http://www.city-data.com/forum/pitts...ounting-2.html

MormonTimes - BYU accounting grads enjoy solid job prospects
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Old 05-26-2009, 09:58 AM
 
1,624 posts, read 4,403,018 times
Reputation: 1300
Quote:
Originally Posted by thebanker View Post

I was thinking of doing my accounting designation, then once I have it, do MBA @ top school. I'm sure Harvard wants to grab CPAs ? Any thoughts?
Not true. CPAs applying to MBA school are a dime a dozen. The first several years as a CPA is a very tedious and boring job and thousands of them apply to MBA schools to try something else. Whenever I see a CPA at a top MBA school, their credentials are almost always superior than the median at their school because the admissions committee usually have plenty of CPAs to choose from. So no, a CPA isn't a ticket to a top MBA school and never was.
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Old 05-26-2009, 10:03 AM
 
1,624 posts, read 4,403,018 times
Reputation: 1300
Quote:
Originally Posted by thebanker View Post
Thanks Sinsativ!

Wow, thru my lil research I found the big 4 paying $30,000 start but that was for undergrad. No clue what they offer for MBA.

So this guy, it was his first job? WOW!
I made over $30K over 15 years ago as a Big 5 auditor straight out of college, so I'm pretty sure they pay more than that.
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