I'm starting to question the ROI on my CPA. My unlicensed colleague is at almost the same salary level as me, and it’s a bit of a wake-up call. I can’t tell if the industry is changing how it values certifications or if I’ve just stayed at this firm too long. Is this something you're seeing, too?

likefunny
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ur at the wrong firm too long. a friend was at their place for 9 years and was only making $120k. jumped in january for $180k. same title. loyalty doesnt pay.

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I see this way too often

The license doesn’t make much of a difference at associate and senior associate levels. Some firms will even let you be a manager without it. That said, not having the license will put a low ceiling on how far you can advance if you stick with accounting/tax/audit.

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Agreed

It's super context dependent. I'm in management consulting now where being a CPA is rare, and being a CPA brings a qualitative trust factor that I can speak finance and accounting language.

Obviously if you're in tax or audit it's just assumed you'll get a CPA.

In industry it can be a minor leg up, but it's unlikely to warrant a higher salary or higher position. These "leg ups" do compound over the course of a career, so wouldn't be writing off it's value just yet.

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Very good point

That's because the CPA license is really only required for audit/ Attest services. For tax, EA's have the same legal authority as a CPA and they don't even need a college degree. Also, only the partner needs to be a CPA. The rest of the team does not need the license. Firms do apply their own requirements for promotion though so.... Anyways the point is that its sort of not valued outside of executive roles.

likehelpful

I would not compare and contrast your experience to others. Just because you have CPA does not mean you have 10 plus years work experience and skillset. Experience and CPA go hand in hand. Stay focus on your goals and evaluate if the job is for you or not. I have worked with many CPA's that do not know basic T Accounting in real world accounting treatments.

likehelpful

The amount of cleanup work I've done in CAS after taking over accounts that were run by CPA firms is shocking.

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If you are staying in public (audit/tax) then it's mandatory for advancement beyond a certain level. If you leave public then there are far more options without it. Some places prioritize it with fewer still requiring it. However, there are loads of opportunities outside of public for an experienced accountant without an active CPA.

I’d still argue that there’s a low ceiling put on someone who stays in accounting but is unlicensed. I’ve met very few CFOs, controllers, assistant controllers, VP of Finance, etc. who were bachelor degree accounting but no CPA license.

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