Survey: What Was the Salary at Your First Accounting Job?

Posted on by Caleb Newquist

If you remember, that is. Personally, I do. The job was with a boutique CPA firm and they offered, and I accepted, $43k. This was 2003. 

I imagine most people vividly remember their first job's salary. The feel of the paper it was printed on or the person who called with the news. But the number, number, comma, followed by three zeros that fell in line behind the dollar sign, that's the detail that trumps all. It's such a paramount moment in a young 20-something's life to get that first job out of college; I'd be surprised to meet someone who doesn't have a slew of memories about the events that led up to that first job offer. Sure, once the green washes off, it's easy to trivialize your giddiness about that first salary, but you can tell by reading the new hire threads that those kids are wet-their-pants excited.

Which is why we're sharing with you this story of a Notre Dame professor who's collecting data on first full-time positions for people who obtained accounting degrees.    

Her name is Jennifer Stevens and she is an Assistant Professor at University of Notre Dame's Mendoza School of Business. She claims to be "an accountant all the way" because she has bachelor’s and master’s degrees in accounting from Miami University (OH), plus a Ph.D. in accounting from The Ohio State University.
 
After obtaining her master's she worked in fraud and forensic accounting for EY in Chicago. She then joined a boutique consulting firm, Alvarez & Marsal. Dr. Stevens says that she enjoyed the corporate world, but "I am glad I returned to academia. I absolutely love my job (and football season)."
 
And before you start, she doesn't get summers off, she spends them doing research. Which brings us to the survey. Dr. Stevens is interested in studying the labor market for accountants. She hopes to build on prior work done in labor economics and "investigate the unique complexities related to our profession."
 
The survey takes less than 1 minute to complete so if you could fill it out, we'd appreciate it. And be sure to share the link with your accounting friends, colleagues, bosses, grandbosses, great-grandbosses, etc. etc. so the data and conclusions reached can be added to the profession's understanding of the labor market for accounting graduates. 
 
We appreciate your participation. No, really.

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Comp Watch ’11: Rumors of Imminent Exodus at Ernst & Young Has Some Perplexed

This just in:

I have been talking to a variety of people at E&Y from several offices in Ohio and Michigan. The word from them is that there is going to be a significant movement of people once compensation info is passed out. It’s kinda conflicting since the rumor is that raises should be around what they were last year. Not sure what to make about it.

As you recall, last year’s raises and bonuses at Ernst & Young were competitive with PwC, which came as a pleasant surprise to everyone at Black and Yellow but understandably this rumor has our tipster in a flummox. Of course, this could be limited to the Ohio/Michigan area but it’s worth seeing what the Turley’s Troops in other areas are hearing. Share below.

Comp Watch ’11: Regional CPA Firms

As you well know, compensation is a popular topic of conversation round these parts. A lot of the discussion revolves around the Big 4 and second-tier firms like Grant Thornton, McGladrey and BDO. For whatever reason, we rarely receive information from those working at regional firms. This led to a recent plea from a reader:

Please keep posting salary info, especially from mid-size firms, and what raises look like so I can see what I am really worth/not worth.

So take this as a call for you regional boys and girls to cough up your comp details for all the world to see. Right now since we don’t have specific details for specific firms, we’ll ask that you identify your firm along with other pertinent details (location, job title, raise, bonus) or email us and we’ll update this post.

If you’re wondering if your firm falls into the camp of “regional” if it’s not a Big 4 firm or one of the three we listed above, then consider your firm (for the sake of simplicity) “regional.” This would include Moss Adams, CBIZ/MHM, Crowe Horwath, BKD, Plante & Moran, et al. That’s wonderful if your firm has a “expansive international network to best serve our clients” but nobody gives a damn about that and I’m not going to split hairs here. If you’re still not sure, just post your information and hopefully the comments will self-regulate. Fire away.

UPDATE:
One addition from the mailbag:

Regional firm headquartered in [the Dixie]. I work in the [small Dixie town] office. I’m a second year (soon to be starting 3rd year) audit Manager. Base comp is $70,000 and based on my recent good annual evaluation will be getting an 8% bonus.

Keep it up, regionals. The more specific the details, the better.

Comp Watch ’11: Ernst & Young Keeps ‘Em Waiting

If I seemed impatient about hearing from the Black and Yellow, it’s because I was. Fortunately, someone answered the call:

As of now, we haven’t heard ANYTHING regarding raises/bonuses etc. On our performance management internal website the status of my annual review just changed from “Leadership Review/Roundtable” to “Release to Compensation” so hopefully we will be getting some news soon!

So, no news is…news, isn’t it? Last year, we started hearing Ernst & Young compensation rumors around the 15th and here we are, one week from our nation’s birthday and hardly a peep. Someone buy a partner a happy hour beer tonight or something, wouldja? Keep us updated.