Is it worth it to be a CPA?

I'm hoping to find out (or, should I say I will find out) by next January. I'm taking two parts in October and two in January. My employer has been pushing me to get the certification although they won't tell me what they are going to do once I pass it. I realize my long term potential with this company is good, I get along really well with my boss who is the CFO, but they're really non-committal about any bonuses, raises, etc. I am basically a senior financial analyst. I don't do debits and credits any more, although I have 6 years experience in public accounting doing tax work and some audit. I do strictly finance and very little reporting (stuck with some specialized investor reporting because I designed it and our worthless IT department can't automate it). I know I have worth to the company in my current role, which is developing financing techniques for the bonds we issue. The company is huge revenue wise and throws money at other people who are not CPAs. I'm currently making around $65k before the few bonuses I get each year.

Basically, how much of a bump in salary or bonus should/would this be worth? I know it's a tough question, but I think the hours I work and the workload I take off of the CFO is huge, and he has told me as much. Salary.com estimates that I should be making low 70's in my current role, no CPA required.

Reply to
jo_jo_jail
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My opinion (could be wrong of course) is that if you're not in public accounting and you don't plan to be in public accounting, then the quality of your experience and how well you've done so far is by far the most important component of your worth.

Reply to
xyzer

That is my impression as well. what really hurts is that there are other CPAs that work there and I already earn more than they do (to be honest, they're not typically as committed as I am, so I'm sure that's part of the reason).

However, they're pushing me to get it and I know that it has taken me over a month to properly prepare for the audit section. I will rinse and repeat for the other four sections, three hours a day, 6 hours a day on the weekends. After this is over, of course, I'll be able to hold an office in my company and take on more responsibility (i.e. secretary or treasurer) since my boss was just promoted to CFO and the secretary/treasurer spot is currently being handled by our in house lawyer who could care less about being involved with that aspect of the business. I'm thinking though that after I pass, I could go back into public and make much more than 65k a year.

anyways, thanks for the response and that's what I was thinking - a CPA designation is only worth as much as the employee who holds it - although that's not the viewpoint management seems to be taking.

Reply to
jo_jo_jail

if you plan on staying w/your current co...go ahead and get the cpa cert...it sounds like they want you to "hit that goal".. to be a "team player" do it and show them you can...then negotiate at lease a 25% bump in pay/bennies...if they balk, you can walk w/a proffessional designation that will only help you in interviewing....imho....good luck !!!

Reply to
~^ beancounter ~^

That's kind of my thoughts, too. Again, thanks fo the responses!

Reply to
jo_jo_jail

your long term career track and goals is way more important than any one employeer...although it is hard to think that way while working.....opportunities will come and go...you can position yourself best with a solid set of credentials and expierences...to be an effective contributor to any organization.....me thinks......

Reply to
~^ beancounter ~^

Exactly..it's all about commitment. It takes commitment to earn a BA/BS, even more to earn a Masters, and still more to sit and pass the CPA and many of other certifications. Successful people set goals, commit to them, and achieve them... and at the top level of management that is what it is all about.

H
Reply to
Harry

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