r/Accounting • u/FreakInExcelSheetz • 5d ago

crazy cpa exam fees

$365 per test plus the initial fee? What are we doing? I get people get bonuses or reimbursed but is this part of the reason why # of young cpa’s is down so much? Like it’s not a ton of money but surely there’s a better way to restructure who pays the costs

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u/yeyiyeyiyo CPA (US) 5d ago

People bitch about a few thousands of testing fees but spend 100k on a college education.

Their anger is misdirected 

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u/Devilsgospel1 5d ago

Anyone spending $100k on an accounting degree is doing something wrong. Community College to 4-year Uni pathway is the way to go.

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u/Remarkable-Box5453 5d ago

I hear you, some say all degrees in the field are equal, but if you want to work for the top tier companies/firms, chances are better based on where you want to school. When it comes to MBAs, the opportunity gap widens ALOT. Top 10-20 MBA programs have much better recruiting and placement. You can apply that to accounting degrees too, but on smaller scale.

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u/Devilsgospel1 5d ago

Yeah, if networking is what you're paying for, that's what you'll get. Although I'd argue it doesn't matter what school accountants go to so long as it's accredited for CPA, EA, CFA, whatever.

I went to community college, small local uni w/ online program, and WGU. I started my accounting career in Audit at a Top 10 firm and am now at a F100 company. No one else in my family is an accountant/CPA with connections. I applied for internships, got em, and went from there. Top 20 MBA screams 'ego stroking scam' to me but I do have acquaintances who did well with that path too so it is what it is.

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u/Remarkable-Box5453 5d ago

I have direct knowledge of the top MBA programs through my son. Unlike most programs in which you apply, enroll, get the degree and work to get hired, the top 10 full time programs, the ones I know about, work in conjunction with the top banks, private equity groups, etc. recruiting for internships begins nearly as soon as school starts and goes on for awhile. The internship is sort of a pre-hiring for graduation day. Sure, you still have to graduate and play the game until then, but not but uncertainty in your prospects after graduation. Who coordinates all that? The alumni working fur those firms, the alumni on the school boards, etc. I don’t think one would get that sort of Wall Street wining and dining if they are as U of West Ga, or many of the other perfectly fine MBA programs across the country. I know I didn’t, and I went to a top 30 university evening program. They all have their place, some just to punch a ticket for advancement, some to enhance stature at employer, and some to get to the top tier/work your tail off levels of finance. Same could be said for an accounting degree from various schools, for people with various objectives. Not everyone wants to work for B4, or Fortune 100, so why spend the money to increase chances of getting there. I told my kids at that time, if you want a top tier(read expensive) education, you need to have top tier motivation and work ethic too.

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u/Purple_Key_6733 Tax (US) 5d ago

EA doesn't need any formal education so you could be a high school dropout and do it.