Accounting job potential salary (Chicago: sales, insurance, vacation)

[hamh]

Hi All,

A friend of mine just told me his brother (who's in accounting doing auditing stuff) got a new job, and the bonus is at least 50K every year.

Is that even possible in Chicago?

With my limited knowledge, a senior auditor may have around 80K to 90K annual salary, so 50K bonus is like more than 50% of the salary.

[coldwine]

Originally Posted by hamh

Hi All,

A friend of mine just told me his brother (who's in accounting doing auditing stuff) got a new job, and the bonus is at least 50K every year.

Is that even possible in Chicago?

With my limited knowledge, a senior auditor may have around 80K to 90K annual salary, so 50K bonus is like more than 50% of the salary.

I would be baffled if a senior auditor were to receive a $50,000 bonus. That sounds wildly out of line with reality.

Partners at the Big Four may receive that kind of bonus-- larger, more likely-- but not a senior manager. Maybe I'm wrong, but ... well, maybe? If they were doing client development?

That sounds to me more like a terrible compensation package.

[iliketrains]

Keep in mind, lots of people lie about what they make, especially those who make very little.

[hamh]

Ahh, I doubted quite a bit when he talked about it too, coz one of my friend who can reach that kind of figure for bonus is a trader, but I never heard accounting people have this kind of compensation.

[iliketrains]

It's quite possible depending on the company. But I would imagine that kind of compensation plan being set up for a trader or a sales person. I'm not that familar with the accounting profession, I'm just making an assumption but it seems like a right or wrong profession. Like, if you're number are correct, good for you that's your job, no need to give you a bonus based on your job.

[chicagojlo]

We have a friend who was bragging about his new job and how it paid so much, until my husband applied for a job at his place and his friend was forced to explain how he came to that figure, it involved some creative use of vacation and insurance coverage.

I'm an accountant too and I don't know of anyone making that kind of bonus outside of the very senior ranks (who obviously make way more as already stated).

Maybe it's 50K split between everyone

[hamh]

hm... another friend said may be some trading firm can give huge bonuses to their employee even though they are not trader too.

If that is true, does it mean working in a trading firm is good even if you are not a trader?

[linicx]

I know very little about accounting, but I thought the actuary? and bank examiner were paid above average wages. .

[hamh]

the annual wage is not something surprise me, it's the bonus (% from annual wage).

[jlawrence01]

Originally Posted by hamh

the annual wage is not something surprise me, it's the bonus (% from annual wage).

Do realize that a lot of accounting people work enormous number of hours (so that the partners don't have to). Some of the bonuses represent payment for that overtime.

Also, in some firms, a substantial portion of the salary is in your bonus plan. The base might be smaller than you think.

Finally, people lie about their salary/compensation all the time - especially when they are looking for another job.