Can accountants make a good living even if they're not self-employed?
I was curious because everyone says it's best to go for a CPA license and become self employed if you want to make money. But what if someone has a bachelor's degree and no CPA? (Such as if they just work at an Accounting firm under someone else their whole career.) Can they still earn a decent wage?
- JohnLv 61 month agoFavorite Answer
"But what if someone has a bachelor's degree and no CPA?" The answer is different, based on what kind of accountant you are. There are 2 broad categories of accountants, public and managerial.
Public accountants work for a number of different clients. They can be either self-employed, or can work in an accounting firm. Its hard to advance in CPA firms unless one is a CPA. The reason is because one must be a CPA in order to become a partner in a CPA firm. One doesn't have to be a CPA, though, in order to either work in a CPA firm or to be self-employed. In most states, unhappily, as long as a person does not call himself either a PA (public accountant) or CPA, they can hang out a shingle with absolutely no training, experience, or regulation.
Managerial accountants are employed by a company to do the accounting for that particular business. Being a CPA is not as important in managerial accounting as in public accounting.
Whether public or managerial, accountants can make good money.
- JudyLv 71 month ago
- A HunchLv 71 month ago
Partners at the Big 4 accounting firms are making more than 1/2 a million a year.
You "can" make decent money at most companies, if you move up in the organization.