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A degree from ANY accredited university should be looked at exactly the same. A lot of people put more weight into an ivy league school, or something that is pseudo prestigious like Penn State/Ohio State/Michigan, but it's all the same. That's the entire point of the accreditation institutions.
Not really. The higher the ranking the more quality the student body will be. Some pretty dumb people can get into colleges that are accredited.
Back on the topic. It certainly won't be viewed like a for profit degree.
State and local taxes are most certainly worked on in CPA firms, so not sure why anyone said it doesn't matter. In FL we have no state and local taxes to worry about, and NYS is actually quite different from many other states.
Also, NYS is not an easy state to transfer a CPA license. Actually I believe if you have not been working in accounting for at least 5 years after you received your license you cannot transfer it and have to apply for it just like anyone that just passed the exam. This means you have to meet all their education and work requirements for initial licensure.
FYI, every CPA that does tax compliance work is familar with state and local taxes. That's because your clients have to file state and local tax returns everywhere where they generate income and have a presence, not just where they are headquartered. So, yes, even CPAs in Iowa or Florida have to do NYS and NYC tax returns if they have clients with interstate business operations in those jurisdications.
All states follow the same general principles and you do not need to be an expert in state and local returns because there are plenty of NYS or NYC Taxes for Dummies type treatises that explains the specific quirks of those jurisdictions and provide a checklist for you to follow in the important areas. Plus, the software the does the bulk of the work and provides you with a questionnaire of relevant items you need to figure out the areas where NYS law doesn't conform with federal law. Also, any person can figure out how to fill out a NYC rent/occupancy tax form by just reading the instructions to the form.
Thus, any accountant that is not an idiot can prepare NYS or NYC tax returns, so if you already have a CPA most firms will assume you can figure it out. Also, auditors, consultants, or those that do tax consulting or specialty tax work like ERISA never do state and local taxes, so it just isn't that crucial to have experience with NYS or NYC tax to get a job as an accountant in NYC.
As for transferring a CPA, there are two ways. One is a direct transfer often called reciprocity or endorsement. This means that you go from a FL CPA to a NY CPA by filling out a simple form. You typically need 4 to 5 years experience for the direct transfer.
The other way is simply to transfer you CPA exam scores from board of accountancy in FL to NYC. They you apply as an initial candidate, provided you meet the education, experience (typically 1 or 2 years), and character and fitness testing. Firms realize that you have already done the hard part (i.e. passed the test), so they know that you'll eventually get the license soon. But even if you don't get a NY CPA right away, you still can do power of attorneys for federal tax with a FL CPA and work on an audit as a manager or below.
I'm not saying that getting an accounting job in NYC without any connections is going to be easy, but those reasons are not big impediments.
FYI, every CPA that does tax compliance work is familar with state and local taxes. That's because your clients have to file state and local tax returns everywhere where they generate income and have a presence, not just where they are headquartered. So, yes, even CPAs in Iowa or Florida have to do NYS and NYC tax returns if they have clients with interstate business operations in those jurisdications.
All states follow the same general principles and you do not need to be an expert in state and local returns because there are plenty of NYS or NYC Taxes for Dummies type treatises that explains the specific quirks of those jurisdictions and provide a checklist for you to follow in the important areas. Plus, the software the does the bulk of the work and provides you with a questionnaire of relevant items you need to figure out the areas where NYS law doesn't conform with federal law. Also, any person can figure out how to fill out a NYC rent/occupancy tax form by just reading the instructions to the form.
Thus, any accountant that is not an idiot can prepare NYS or NYC tax returns, so if you already have a CPA most firms will assume you can figure it out. Also, auditors, consultants, or those that do tax consulting or specialty tax work like ERISA never do state and local taxes, so it just isn't that crucial to have experience with NYS or NYC tax to get a job as an accountant in NYC.
As for transferring a CPA, there are two ways. One is a direct transfer often called reciprocity or endorsement. This means that you go from a FL CPA to a NY CPA by filling out a simple form. You typically need 4 to 5 years experience for the direct transfer.
The other way is simply to transfer you CPA exam scores from board of accountancy in FL to NYC. They you apply as an initial candidate, provided you meet the education, experience (typically 1 or 2 years), and character and fitness testing. Firms realize that you have already done the hard part (i.e. passed the test), so they know that you'll eventually get the license soon. But even if you don't get a NY CPA right away, you still can do power of attorneys for federal tax with a FL CPA and work on an audit as a manager or below.
I'm not saying that getting an accounting job in NYC without any connections is going to be easy, but those reasons are not big impediments.
If the OP makes $35k, he/she works at a very small firm in FL. How many small firms do you think constantly prepare tax returns for other states?
As far as the hiring firms not caring- not true. Most small firms require someone with NYS/NYC experience. If the OP comes from a small firm he/she will likely only be considered by small firms. Many of those do not have huge separation of duties- so even audit staff does tax work during tax season, they do not really have consultants, etc. This isn't about whether or not the OP is capable of preparing those returns or learning how to, it's an issue of the hiring firm not wanting to deal with someone that has to be "trained" on it.
And all you did was state exactly what I said about the CPA license. You either transfer with 5 years experience or face the possibility of having to go back to school to meet their initial licensure requirements.
Like I said, people on here can make all the assumptions they want but until they are in the OP's situation and start applying for jobs in NYC they will not understand.
I often hear recent grads making the comparison between the entry-level salary in a low cost location with less job opportunities to the entry-level salary at a high cost location with more job opportunities. But how about the comparison later in the career. How do salaries of top execs in NYC compare to top execs in Tampa? What about promotion opportunities? Are there more opportunities in the NYC area or Tampa? Where are you more likely to find a job that gives you greater responsibility, looks good on a resume, and therefore provides more career growth potential?
I used to think this myself- that in the end I would be much better off up there. But in reality, that's not always true. Yes, the top executives that work for the cream of the crop Fortune 100 companies make a lot more money than top executives in FL. But how many people will ever get that high up the ladder- especially without a top MBA?
In finance a pretty smart, but not outstanding/top MBA type of person can probably make it as far as director or VP of a decent sized, but not necessarily Fortune 100 company. At that level, IMO the difference in pay in NYC is not worth it. It's probably around $50k a year. But how much more would that person be spending on living/taxes and how much quality of life will they be giving up?
As far as the number of opportunities, of course there are more in NYC. But there are also 8 million people living in that city, so the competition is very high.
The OP appears to be unhappy mainly with pay around here, which is why I made the comment that his/her financial situation might not be that much better up there when he/she moves. Will it be better 10 years after the OP moves? Probably, but by then things might be better in FL too. There are some of us accounting/finance professionals that get paid very well in FL, so assuming that the OP's situation will only improve with a move to NYC is ridiculous.
I often hear recent grads making the comparison between the entry-level salary in a low cost location with less job opportunities to the entry-level salary at a high cost location with more job opportunities. But how about the comparison later in the career. How do salaries of top execs in NYC compare to top execs in Tampa? What about promotion opportunities? Are there more opportunities in the NYC area or Tampa? Where are you more likely to find a job that gives you greater responsibility, looks good on a resume, and therefore provides more career growth potential?
Are you serious? Top execs in NYC make ridiculous amounts of money (think of Wall Street execs and their ridiculous bonuses even when they run their companies into the ground). Unless you're the CEO of some kind of hot tech startup in Tampa there's no way in hell you're going to come even close to the compensation these people get. This is pretty much common knowledge.
Unless your prior experience includes say, senior leadership at a firm that's gone under or was a glorified Ponzi scheme, it's ALWAYS going to look better to work in NYC over Tampa, especially in anything related to finance, banking, etc. Tampa is a lovely city with a much more preferable climate to anything in the northeast but people who dream of moving to Tampa don't usually have crazy career opportunities with lots of money as the reason. Actually, most people seem to want to move there when they retire.
The most important rule for anyone looking to rise to the top levels in their field is find where the hot to be place is for this field and GO THERE. For Finance it's NYC, for tech stuff it's Silicon Valley, for government it's DC. Sure, you can theoretically get into almost any field anywhere in the country but you're not going to get the same pay/benefits/respect/career prospects if you can't/won't move to where the industry is generally located.
OP will get a job up here just fine. His college may have an impact on promotions when it comes to management level.
I would have guessed the opposite: that the name of the school would get your foot in the door and then it would be more about job performance than brand name of the degree, but I may be wrong.
I used to think this myself- that in the end I would be much better off up there. But in reality, that's not always true. Yes, the top executives that work for the cream of the crop Fortune 100 companies make a lot more money than top executives in FL. But how many people will ever get that high up the ladder- especially without a top MBA?
In finance a pretty smart, but not outstanding/top MBA type of person can probably make it as far as director or VP of a decent sized, but not necessarily Fortune 100 company. At that level, IMO the difference in pay in NYC is not worth it. It's probably around $50k a year. But how much more would that person be spending on living/taxes and how much quality of life will they be giving up?
As far as the number of opportunities, of course there are more in NYC. But there are also 8 million people living in that city, so the competition is very high.
The OP appears to be unhappy mainly with pay around here, which is why I made the comment that his/her financial situation might not be that much better up there when he/she moves. Will it be better 10 years after the OP moves? Probably, but by then things might be better in FL too. There are some of us accounting/finance professionals that get paid very well in FL, so assuming that the OP's situation will only improve with a move to NYC is ridiculous.
So you're saying the FL degree would hold you back even if you have a track record of success in your job in NY? As someone with a FL degree, that is really discouraging to hear. Competition would be high, no doubt, but as you mentioned, with 8 million people there should be a lot of the higher level positions available, even if the percentage of people that get them is small. The definition of quality of life is subjective, I think. If you're single, prefer to take the subway or walk than drive, want access to more variety in nightlife and restaurants then by that definition the quality of life is better in NY. If you're married, prefer to drive, live in suburban home, are content with more limited nightlife options, want easier access to the beach year-round, and a more relaxed pace, then Tampa would offer a better quality of life.
So you're saying the FL degree would hold you back even if you have a track record of success in your job in NY? As someone with a FL degree, that is really discouraging to hear. Competition would be high, no doubt, but as you mentioned, with 8 million people there should be a lot of the higher level positions available, even if the percentage of people that get them is small. The definition of quality of life is subjective, I think. If you're single, prefer to take the subway or walk than drive, want access to more variety in nightlife and restaurants then by that definition the quality of life is better in NY. If you're married, prefer to drive, live in suburban home, are content with more limited nightlife options, want easier access to the beach year-round, and a more relaxed pace, then Tampa would offer a better quality of life.
Well there needs to be a distinction between a "FL" degree. In general you'll be much better off with a degree from UF or Miami heading up North.
Well there needs to be a distinction between a "FL" degree. In general you'll be much better off with a degree from UF or Miami heading up North.
This I agree with. There's a lot of people from the northeast who go to Miami and UF and then come back here to work. This seems to be more true with Miami in my experience. Miami (or even UF) won't hurt you one bit up here - but the lesser known Florida schools can. Speaking just in my own experience I'm really not familiar with FIU, FSU, Webber, Nova and whatever other schools are down in Florida and would definitely give pause to consider a candidate from one of those schools without local experience or a local address.
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