I heard a stat today that 70% of CPAs will be able/ready to retire within the next decade and there's a shortage of those going into the accounting field.

Is anyone here a CPA? Would you recommend it as a career choice? (Was it worth the student loans? :) )

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I know two young people who graduated with CPAs and cannot get jobs in that field. Not sure this is a good future job with AI taking over.

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Depending where you go, its relatively cheap to get a CPA (only requires 1 additional year of schooling in many cases).

But CPAs/accounting as a career? Eh its kinda underpaid relative to other business fields. So it's not as financially rewarding, at least early on in a career

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Not a CPA, but have worked in tax at big four and top 10 public accounting firms. My impression is that CPA is a good career for people who are somewhat risk averse, both in terms of job security and in accounting/tax interpretations. They tend to not want to push the boundaries or take aggressive positions for their clients, but it as also understandable as they personally sign tax returns, audits, or reviews. I also think it’s suits people that want job stability, but that comes at the risk of lower pay. Early career CPAs work really hard and really long hours (comparable to finance, technology, and banking associates) but the pay is much, much less. However, there is also less downside risk. Tech jobs may have a huge equity layout, but also might result in a bankrupt company. Banking and finance jobs can have huge bonuses, but they might lay off a whole division if the market direction changes (see 2008 financial crisis). CPAs are not immune from market pressures, but definitely more insulated than some higher-paying fields.

I think it’s an interesting time to be a CPA. With the ongoing shortage, people need to accomplish more per hour than ever before, so there’s a chance that technology might come along and revolutionize some CPA practices (or maybe not, who knows).

I think getting a finance minor is a good pairing too. Allows you to think more broadly about client needs and potentially pivot to investment advisor roles if auditing is not your thing long term.

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The CPA shortage is closely related to the shortage in the RIA industry. RIAs collaborate closely with CPAs for income planning and tax-effective investment decisions for clients. I would train in both areas.

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Post Photo
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I have a experience of 7 years in digital media.
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I started my career in the same company i am currently working.

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I am being underpaid and i know it.

I am sure there is alot of opportunities out there.

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Additional Posts in Student Loans

Damn LIBOR rate up again...

In a perfect world how much would you want to make a year to both pay off your loans and live a good life? I think I'd need to make upwards of $200k to pay off my loans, take care of my family and live a fulfilling life.

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If you could go back in time what would you tell yourself before taking out student loans?

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Curious to know how much your student loans were when you graduated from your program, how much you’ve paid off so far, and your age. If you have any varying factors too, like kids, income range, etc. Just trying to see if I’m on track or slacking in life. I am 34 yo, i graduated with 95k in student loans, i currently have 85k left and i make 85k in come. I’m also a single mom with two kids. Just praying for 100% student loans forgiveness. Wishful thinking???

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If you didn't have to pay off any more of your student loans what would you use the money for instead? I'm stuck between something impractical like a trip somewhere or something I need like a new car lol

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Not mad that student loans being paused means I can use the money for Christmas. Are you still making payments during the pause? Or are you saving the money for something else. My christmas present to myself is a spa day!

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Are you doing what you thought you would be when you took out your student loans? If so, do you feel like taking out your loans was worth it?

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Has anyone refinanced their student loans on h1b visa? Is common bond the only option?

Can grad students get $20k forgiven if they got Pell in undergrad but outstaning loans are only for grad school?

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SOFI or who else?

I have a 25K loan from my MBA. I paid off 100k whole, after graduation. 3 years ago, I moved my loan from federal to private ( SOFI) account. I recently lost my job. I have applied for unemployment, as the severance that I received will only cover for 2 months. Together my husband and I used to make less than 250k after tax. Now, with a loss of pay , we are going to make less. Do you think I will be eligible for Loan forgiveness?

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