Anyone else feeling hopeless about pay in the accounting industry? I make the least in my friend group by a landslide and have the most education. Feels like I will never meet my financial goals in an accounting based career

likeuplifting
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I mean accounting is the get rich slow scheme. I know it sounds cliche but the longer you stay the better exit ops there are. Make it to SM or director and they make decent money. If you end up making partner you definitely make good money. Exit ops that make good money: some industry, some PE options, consulting firms with lucrative pay, some own tax shops. My goal is to leave and look for a good consulting firm that will leverage my experience from big 4

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I think there’s definitely something to what you’re saying. But I guarantee there are CFOs being recruited from big 4 still. Also being a high end VP is still lucrative. As a manager you could transition to an operations role. I have a family friend who went big 4 audit => healthcare consulting => operations role at hospital => COO at a hospital.

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You need teacher and social work friends. My teacher friends work every weekend to lesson plan, deal with unruly kids, and make like $30k. When I think of them, I feel grateful for my accounting job lol. This job is soul sucking and pay is not great. But it’s still better than some jobs out there for sure. I tell this to myself so I can at least make it at B4 until this pandemic gets better/manageable.

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Totally agree. There are so many industries that are wayyy worse off. I just was more speaking to that got an accounting/business degree and sometimes fee like could have made more just using the business degree

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This industry is an echo-chamber of bad advice and misleading truths, especially when it comes to pay. Opportunity and potential don’t buy homes.

likesmart

Why does Consulting pay way? Also what type of consulting’s pays the best ?

I should have chosen CS for my college.

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whatelse would you do if not accounting ?...but yea I should have stayed with my CS major....

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Leave audit!! Your skills can land you in very lucrative careers. People at Big 4 complain but typically are afraid to leave their jobs. If after 4 years you are still below 100k that’s BS. Go to finance or consulting.

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Same boat. The negative discussions on the bowl lately don’t help haha. I’m screwed

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For real. I hate my job and make no money. So I should have hated my job somewhere else and made more money

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You cannot rely on salary alone in really any job unless you’re at the top of your field ya know? Like no matter what you need to be making investments, stocks, real estate, whatever, or you’re gonna be paycheck to paycheck forever

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Jump ship. You’ll advance your pay quicker that way.

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How long have you been in accounting? I felt down about it at first my few years into accounting, but now I’m ~7 years in and am really happy with what I’m making and have exceeded almost all of my friends at this point, even the ones who started out making more than me

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Aww I’m just another miserable accountant like all of you lol 😂

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I left accounting this past year because I couldn’t deal with the stress of busy season and not getting paid well enough for the toll it takes on your life. However, I will forever be grateful for getting an accounting degree because it challenged me and I’m blessed to have started my career in this industry - quick learning opportunities! I switched to marketing and within 5 months was promoted to surpass my accounting salary by $10k. To each their own, but just remember you’re never stuck! You’ll figure it out.

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I double majored in accounting and marketing while at school. I applied to lots and lots of jobs but well worth it. In interviews I talked about needing a creative outlet (outside of fancy excel spreadsheets), enjoying the client facing aspect of accounting, quick learning, and ability to write (most people ignore we have to document everything as accountants).

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An accounting professor I had once said when being pressed about the most lucrative service line/industry, "If you want to make lots of money then go deal drugs. Risk and possibly high rewards."

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Hi friends,
I just wanted to share what I feel for the few months. No drive in my life, been in depression phase.I have recently resigned form the job. I am planning for a career switch, it's been 2 months now. Nothing is going in the right way, feeling very low and no confidence at all. Negativity from the family , relatives constantly invading me for the joblessness. Now I am at my home watching my friends moving abroad, me at the zero level.

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