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Is one year too soon to leave for another job?
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You finish your cpa. And start applying to better jobs which prefer a cpa.
In public accounting you'd maybe get a one time bonus for passing, depending on your firm and the policy, but you wouldn't get a raise per se.
A bonus maybe but not a raise. The cpa is just necessary to be promoted to manager and above.
I’m waiting until December to know my bonus after getting my CPA this year. I’m in industry and I can certainly say no raise except for to adj for inflation. Change job is probably the most effective way to have pay pump after getting CPA.
Passing the CPA is a norm in the professional world. But also, passing certain exams alone doesn’t make you any smarter, but instead makes you more marketable for other opportunities. Keep learning, be hungry, stay humble and I assure you the raises will come. Congratulations and good luck!
Getting more money would be a nice thing to have, but passing the exams and getting licensed is your responsibility, just like any other professions.
Accounting/finance is probably the only one you can work without licensed.
Usually when you get a certification like a CPA license, it doesn't automatically come with a raise with your company. You would need to apply for roles above where you are at, either within your company or elsewhere, in order to get a big raise
That is why it is important to communicate expectations beforehand. A co-worker and I passed around the same time and were very surprised not to get a raise because the currently year budget “was already approved” and we had to wait until next year.
Why were you surprised? It’s usually just a bonus for passing. It’s spelled out in the benefit package. For my firm, it’s like $5k if you pass within the 1st year of employment and then decreases if you take more than 12 months.
More money comes over time with advancements
Bonus only at most firms. There may be a few that give raises, but I’d imagine that is a unique situation.
Yes if you LEAVE and go to industry
Congratulations! Thats a huge accomplishment. My son just took his final test and we’re waiting on results. Ask for a raise. If not, absolutely move on.
Our firm you automatically receive a $5K bonus.