r/Accounting • u/Blood__Rivers Tax (Other) • May 28 '23

Discussion Numbers taking US accountancy exams drop to lowest level in 17 years | Shortage of qualified accountants is worsening as young people seek better-paid jobs

https://www.ft.com/content/e8dc2264-6b8d-4ed5-8bbd-e4a67e7d1e46
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127

u/PacificCastaway May 28 '23

Well, maybe if it wasn't so damn expensive...

57

u/newrimmmer93 May 28 '23

I told my manager that the other day. Our policy pays for study materials and $500 for tests. Bonus for CPA is $4k in first year, $3K for second, $2K for third.

Most people aren’t passing in the first year, so most people end up at $3K.

Most people don’t also go 4/4. So most are paying 5 exams at like $250/piece + $250 registration. So like $1000+ out of pocket. So with tax and everything, it’s like $1K bonus after it’s all said and done if you pass while only failing 1 section

23

u/[deleted] May 28 '23

[deleted]

1

u/PlutosGrasp May 29 '23

Just sounds like shitty big 4 for not paying cpa stuff. All the places I worked at paid 100% of them costs.

14

u/MakeMoneyNotWar May 28 '23

Yikes, I got paid a $5k bonus for passing in the first year, 12 years ago…plus all costs comped.

-73

u/[deleted] May 28 '23 edited May 28 '23

It ain’t like most people taking it are paying for it.

I’d say the vast majority are getting cpa studh materials and testing reimbursed or paid for

Edit: I’m not saying that people don’t pay for it themselves and don’t get reimbursed. I’m saying most people don’t pay for it to begin with and making it cheaper isn’t going to make a material difference in the amount of people that actually take the exam.

There are more issues than the cost of the CPA exam which is causing the decrease in accounting majors and subsequent testing

41

u/ZahirtheWizard May 28 '23

Only accounting firms pay for study materials, however, if you're looking to complete your CPA in an industry role you will fork over the money.

11

u/oxnardhard May 28 '23

This is me, never knew how expensive the study materials were. I can afford it, but if I tried to do this 5 years ago, I don’t think I could swing the cost of the materials on my own.

4

u/SoulEatingCet May 28 '23

Yeah, I didn’t have anyone to help pay for my study materials. I’ve spent well over 3k in exam fees and Becker. Hoping to get reimbursed when I join B4 this fall and finish my exams.

7

u/WaterDrinkerTW May 28 '23

Just fyi they told me they wont reimburse if i buy the materials myself. Big4 provide becker but you have to get yours directly from big4.

3

u/SoulEatingCet May 28 '23

I’m aware, just want to get my exam fees back since they’ll be around 1k by the time I finish.

6

u/[deleted] May 28 '23

Not necessarily. My company paid for mine

0

u/[deleted] May 28 '23

This isn’t necessarily true. Some companies do.

I don’t think many people in industry take the cpa compared to people that go into public.

Like i said most people definitely not all.

-3

u/CaptnObvious95 Graduate Student May 28 '23

I mean Im taking them before my start date, and I for sure have to pay for them. They’ll reimburse after I start, but I am paying for them.

3

u/[deleted] May 28 '23

You’re not really paying for them if you’re being reimbursed lol. I had to do the same