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To be honest a masters isn’t really worth it unless you need the business credits. A MSA is just an additional CPA study that costs anywhere between 3-10x that of a Becker course.
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can i ask why not in the bay area?I think i got through them in 4 months. Did it right after Masters of Accountancy and before my full-time started. Best decision ever - no idea how people do it while studying. Passed 3 of them with 95+ and a 76 on Reg yuck taxes.
Accounting is an amazing career anywhere outside of the bay area. Think I saw a stat somewhere that said a lot of millionaires are accountants and teachers (presumably because of saving consistently for long periods of time).
can i ask why not in the bay area?
Because the salaries don’t match the cost of living here.
Staff: 60-80
Senior: 80-110
Manager: 110-150?
I’m not sure of the exact numbers but from my memory of being in audit at a large regional firm you basically have to be a senior manager to afford living in the Bay Area. And even still you don’t get the large potential of tech companies when including equity compensation.
Any reasonable tech company will offer $130k + bonus + RSUs + options for a manager position in other less complex field like Sales Operations. You can also do Revenue Operations at a private company. Traditional accounting like payroll etc is okay too but it’s just quite hard to justify the level of effort that is asked for the compensation being given.
There is nowhere in the normal Bay Area (non outskirts) that you can buy a single family 3 bedroom starter house for less than $1.5M
Edit: I listed audit positions because at least here you kind of need to have some of that public experience to go to private industry and get a good pay bump.
Edit: It seemed hard to me too when i was in accounting. Now that i’m on the other side and run Commercial Ops for a public tech company i realize how easy it is to get into. Most of the people in Ops are far less driven or intrinsically hard working when compared to accountants. Just my opinion anecdotally. They’re just better at being communicators.
Quick bump and update...
Ended up passing the cpa exams earlier in the year. I was able to work and study on my free time at my previous job since it was not too stressful. Was never the best test taker, but if you put in the hours, you put yourself in a good position to pass. Cant imagine working full time in public and studying for exams.
Took a few months off before I started working for a firm (non big 4) in tax. Got some rest/relaxation and quick vacay before jumping into a new career.
Been a couple months now. Training been insane, but I enjoy the process. I thought I was going to be the lone old head, but there were a handful of career changers as well.
For anyone who passed the CPA exam, can you give me some insight on how you studied, what resources you used, etc?
Appreciate itBeen a minute since EYE completed the exam but initially started with Becker but switched to Gleim after my Becker subscription expired.
One reason EYE switched over to Gleim is they have a Access Until You Pass guarantee with their premium package whereby you get updated study materials as they become available each year.
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As far as my study routine EYE would study after coming home from work but that was rough, especially during busy season.
After I lost my job EYE would study most of the day while going through the job search. That consisted of
- Watching the lecture vids and follow along in the books
- Complete study questions after each section
- Do the simulation at finishing each chapter
My goal was to finish 1 or 2 chapters a day and when EYE completed an entire book do the simulation CPA exam Gleim offered for that particular section.
Hope this helps.
Appreciate it