r/financialindependence • u/fidgit86 • 9d ago

What do you do that you earn six figures?

It seems like a lot of people make a lot of money and it seems like I’m missing out on something. So those of you that do, whats your occupation that pays so well?

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284

u/dacalo 9d ago

CPA. Focused on technical and corporate accounting.

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u/ChessDynasty 9d ago

CPA here not quite at 100K but almost there only 2 years out from school. I'm an auditor at fortune 100 company. Great benefits with a pension and 401K!

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u/surfmagic 9d ago

CPA here as well. Salary+bonus about $200k, with an additional $30k of stock options annually too at a Fortune 100 in the upper Midwest. I work corporate tax.

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u/ChessDynasty 9d ago

Wow that's goals! I'm hoping that'll be me in 5 years. Ever thought about an extra certification other than the CPA? Since I'm in audit I'm considering the CFE to add on to the CPA I just completed. My company would pay for it of course. What are your thoughts on that?

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u/Guh_Trader 9d ago

CMA is a good choice. It's easy compared to the CPA.

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u/ChessDynasty 9d ago

I've looked into CMA but not really audit related. I'm undecided between Certified internal auditor (CIA), Certified fraud examiner (CFE), and Certified information Systems auditor (CISA) to add to my already completed CPA license. I plan in staying in audit for the foreseeable future.

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u/Guh_Trader 9d ago

CIA would be a good choice for your profession. I am a huge advocate for the CMA because I felt it was extremely practical in the accounting field, especially if you want to be a manager or executive level one day. I felt the CPA was mostly useless in terms of studying. I felt the CPA was just a checkbox since 99% of the stuff would never be practical for my job. I am a Senior Finance Manager for a Fortune 500. I passed all 4 CPA exams, 2 CMA exams, and CFA L1 in 18 months. CFA was the most ridiculous thing I ever encountered.

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u/surfmagic 8d ago

Personally, I would recommend going after whatever certifications you can, provided you genuinely have an interest in the subject, your employer will cover the cost, and that you have time to pursue it.

I got a master’s degree in tax paid for by my employer. This was before kids. I couldn’t imagine going back to school now. I’m glad I did it when I was young and had more time and energy.

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u/ButterMilk116 9d ago

Good to hear there’s possibilities for us tax people after leaving public

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u/OJSAAB 9d ago

Damn . How many years of experience do you have

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u/surfmagic 9d ago

25 years in.

20

u/Momoselfie 9d ago

Only 2 years and almost $100k? You in HCOL or something?

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u/ChessDynasty 9d ago

Nope texas my total comp is 85K

20

u/mene3381 9d ago

That’s not that close to 100k in my eyes, but still a damn good salary. Congrats

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u/bravestar3030 9d ago

the salary jumps quite a bit at your first promotion.

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u/Captain-Insane-Oh 9d ago

If they’re are a big 4 accounting firm, they move up in a structured way, shit pay year one turns into great pay year 4+ but lots of folks jump ship before the pay gets better

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u/867-53OhNein 9d ago

A pension??? Shit. Hang on to that gig!

2

u/neaux2135 31 M - SR = 46% 9d ago

Perks of doing a job nobody wants. Internal auditing is the worst job for an accountant, imo. Companies have a hard time filling these roles with competent people and usually pay well for them.

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u/BernadilloJune 9d ago

CPAs represent. In LCOL and interviewing for a manager role next week for 100k + bonus!

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u/mrbrsman 9d ago

Same!

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u/ResDogZZZ 9d ago

I’m a staff in my first year of public accounting. Is staying in public the smartest move? If not, when is the best time to leave? (Assuming I pass the CPA exam in the next year.)

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u/Jojo_Bibi 9d ago

Manager is the ideal time to leave. Sr works too. 3-5 years in public accounting will pay dividends for decades. Whatever plush corporate accounting job you want, and fast track to the top. Congrats!

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u/CPAngus 9d ago

Agreed. I left big 4 as a manager and got a finance director job making 70% more than what I had been making. If I left as a senior, I’d be making 50k+ less now instead.

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u/Nailz30 9d ago

Highly suggest you do 2-3 years tops in Public, the hours will kill your life. Get your CPA and go Corp or industry.

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u/stratus_x 9d ago

Leave after you finish one busy season as a senior. Job market is hot for that level. Waiting until manager prices you out of a lot of roles IMO, because most companies like their people having a mixture of public and industry experience

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u/mrbrsman 9d ago

I left as a 5th year Senior for an SEC Reporting Manager position. From there I worked my way up to Corporate Controller. To me the key is making sure that you get at least a manager title when you do leave. And get that CPA license!!

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u/Di_esel 9d ago

Financially, you will earn more at any level, under partner, if you go to industry. That's been my experience

5

u/Stanman77 9d ago

I'm glad I didn't have to go far to find this. Represent r/accounting

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u/theSEman9 9d ago

Can't wait to get my license so i can officially flex it!

i just passed all 4 sections of the CPA exam and now i'm just waiting for licensure. im a senior accountant with 5 years under my belt at a fortune 100 company.

gross base salary + bonus = $106K (HCOL city)

1

u/Latter-Pain 9d ago

How did you get your start?

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u/NeanderthalBuyStonk 9d ago

Thought about getting into accounting for asset classes like cryptocurrency?

Always questioned why there are so few options there.

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u/CPAyyyy 9d ago

Not a tax guy, but I am into crypto. My understanding is that this really isn't a challenging subject from an accounting perspective. The hard part is accurately tracking every taxable event (swaps, LP tokens, staking, etc).

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u/SRD_Grafter 9d ago

That and that there is very limited guidance, due to it being so new (and law makers not really understanding it).

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u/multivitamingummy 8d ago

You can easily get to 100k (in a couple years) as an auditor but you'll have to work some 80hr/wks