congrats to all those who passed the UFE!!!

[KappaSigma]

Originally posted by LongCity

On another note - are CFAs and CAs equivalents in their respected area?

I wouldsay so. I am now in corporate finance (nor core 0audit, etc) and I work with CFAs and MBAs. MBA = blah. CFA is much harder from what they have said. Its a ton of material and self directed which is a huge reason its very tough.

[Markov7]

Originally posted by KappaSigma


I wouldsay so. I am now in corporate finance (nor core 0audit, etc) and I work with CFAs and MBAs. MBA = blah. CFA is much harder from what they have said. Its a ton of material and self directed which is a huge reason its very tough.

Can you give a reason why "MBA = blah", sorry but it something I want to get in the future.

[2002e46]

Originally posted by max_boost
The pay definitely sucks while articling lol long hours and $40k seems to be the norm. But now it's all good lol hello pay raise!! Haha

No pay raise until you hit the manager level. Most new CA's are still senior associates for the next few years stuck at 50-65k a year. More stress, way more hours and more responsibility. You only make the big money at sr. management and partner or if you go into corporate accounting.

[tenth]

Originally posted by LongCity
I thought you can be accepted into a training position for CASB when you apply for recruiting after finishing 3rd year? I have a friend who applied back during the recruiting period this year who found out about a month ago he got his position. He'll be graduating come spring (I think).

But schooling credentials aside, I was moreso referring to the real work world as opposed to what courses have been done in school.

The answer to your original question is no. There has been a sizable demand for CAs lately, much improved over this time last year. What designation you go hire is personal preference. The difference in pay for equivalent credentials and experience isn't going to be huge. A very good CGA at a given level is probably not going to be much cheaper (if at all) than an equivalent CA.

Congrats to the successful writers. Was a good party at the maid on Friday.

Originally posted by 2002e46


No pay raise until you hit the manager level. Most new CA's are still senior associates for the next few years stuck at 50-65k a year. More stress, way more hours and more responsibility. You only make the big money at sr. management and partner or if you go into corporate accounting.

60-90k range at the big firms for seniors. 60-75 or so for first year seniors. Not big money, but pretty reasonable.

[holden]

Originally posted by tenth

60-90k range at the big firms for seniors. 60-75 or so for first year seniors. Not big money, but pretty reasonable.

How much can a brand new CA (just passed the UFE) expect to make if they leave an accounting firm and go to work in industry for a big oil and gas company?

[Kari_310]

Soooooooo glad to be done!
Had so much fun partying at the maid with all the firms! Definitely the busiest day of the year for them

This is one of the largest grad classes the Alberta profession has ever seen, 16% increase. woot woot so glad i wrote this year and not next year with full ifrs

[2002e46]

probably not very much unless they had a major list of accomplishments. It takes time to learn the ins and outs of accounting and a fresh CA likely has around 3 years of work experience if they went straight through...i.e not nearly enough.

I guy i know got fired after getting his CA and is the controller of some small company..i think he makes in the 70-80k range.

I most people stick around until they are a manager for a few years, get experience and contacts in the private sector and then get head hunted to make 6 figures.

One of the biggest misconceptions is that all CA's make ridiculous money.

Originally posted by holden


How much can a brand new CA (just passed the UFE) expect to make if they leave an accounting firm and go to work in industry for a big oil and gas company?

[KappaSigma]

Originally posted by Markov7


Can you give a reason why "MBA = blah", sorry but it something I want to get in the future.

The way I see it as follows. MBA is all stuff you should learn during your articling experience for a better designation.

[KappaSigma]

Originally posted by 2002e46
probably not very much unless they had a major list of accomplishments. It takes time to learn the ins and outs of accounting and a fresh CA likely has around 3 years of work experience if they went straight through...i.e not nearly enough.

I guy i know got fired after getting his CA and is the controller of some small company..i think he makes in the 70-80k range.

I most people stick around until they are a manager for a few years, get experience and contacts in the private sector and then get head hunted to make 6 figures.

One of the biggest misconceptions is that all CA's make ridiculous money.

TOtally disgaree. I know people non manager, who passed last year and went into industry making 90-100K with no O&G experience.

[tenth]

Originally posted by 2002e46
probably not very much unless they had a major list of accomplishments. It takes time to learn the ins and outs of accounting and a fresh CA likely has around 3 years of work experience if they went straight through...i.e not nearly enough.

I guy i know got fired after getting his CA and is the controller of some small company..i think he makes in the 70-80k range.

I most people stick around until they are a manager for a few years, get experience and contacts in the private sector and then get head hunted to make 6 figures.

One of the biggest misconceptions is that all CA's make ridiculous money.

Disagree as well. 3 years is plenty of time when the on-the-job experience you get at a firm is learning with a bat (learn it or get beat down hard). If you want to jump right out to controller or manager of financial reporting, or better still a VP/executive position, than ya, stick around for sure and that leap will be an easy one if you're competent.

New CAs start at a low of 80k in industry (I don't know anyone that's left recently for less) and the range goes right up to 120 at the very extreme high. The typical range would be 80-95, while the 120 was someone who had distinction on every mod, honour rolled the UFE, and had a great working relationship with that company (former client), which led to a job offer that was outside what she would ordinarily be considered qualified for. So unusual, but if you're a superstar it's possible.

Whether it's a misconception is dependent on your definition of ridiculous money. For a lot of people making around six figures in their mid-late 20s is a pretty ridiculous amount of money, although if you're from Alberta you might not think so.

EDIT: You're in Edmonton, which is a little different of a story. The CA market in Calgary pays either the highest or second highest in the country.

[Chandler_Racing]

Originally posted by tenth

Disagree as well. 3 years is plenty of time when the on-the-job experience you get at a firm is learning with a bat (learn it or get beat down hard). If you want to jump right out to controller or manager of financial reporting, or better still a VP/executive position, than ya, stick around for sure and that leap will be an easy one if you're competent.

I'm with you on every point, except this one.

You do not need to have Manager level experience to obtain a Controller / Manager of Financial Reporting position.

[Cos]

Originally posted by l/l/rX


im surprised there were people in the office. PWC got the day off, did the drinking out of that nasty ass boot ritual at silver dragon and are now heading to the peelers.

Haha we were sitting there for lunch and we kept hearing peoples names being called. You guys got more drunk than riggers on 2nd day off.

[2002e46]

I guess if you hit the right company at the right time. But for someone planning their future I wouldn't bet money on a new CA fresh out of CASB gettting a senior level position making 6 figures. Then again I may be wrong, i AM a CASB drop-out. My former colleagues all passed this year and they owe time to PWC for paying their fees and none of them really feel that confident in their skills yet.

[tenth]

Originally posted by Chandler_Racing


I'm with you on every point, except this one.

You do not need to have Manager level experience to obtain a Controller / Manager of Financial Reporting position.

Was thinking bigger companies. There's always the exception for gong-shows, the brilliant superstars, and smaller companies, but ordinarily the mid-large companies in town aren't hiring seniors.

Originally posted by 2002e46
I guess if you hit the right company at the right time. But for someone planning their future I wouldn't bet money on a new CA fresh out of CASB gettting a senior level position making 6 figures. Then again I may be wrong, i AM a CASB drop-out. My former colleagues all passed this year and they owe time to PWC for paying their fees and none of them really feel that confident in their skills yet.

Tell them to negotiate those fees into their new job once they have an offer. Have done it twice. A couple grand in fees is nothing when the finder's fee for the recruiter is 30k.

[Chandler_Racing]

Originally posted by tenth
[B]
Was thinking bigger companies. There's always the exception for gong-shows, the brilliant superstars, and smaller companies, but ordinarily the mid-large companies in town aren't hiring seniors.

What would you consider to be a "bigger company"?

[SugeTek]

Originally posted by DJ_NAV
YEa.. basically it is a very very hard test.. costs almost 2 grand to write it and people take 2 months off from work to study for it. Taking two months off again and paying 2 G's for it is a huge pain in the ass. I think this year's passing rate was 71%. Passing rate for repeat writers was only 44%!!!

How/where did you get this info? I was trying to figure out this year's pass rate, but couldn't find published info.

Cheers!

AND I FUCKING PASSED THIS YEAR! IT'S OVER! And as a repeat writer, if that 44% is true, I feel even better!

[bunzofsteel]

CONGRATULATIONS TO ALL WHO PASSED!!!!!

UFE is definitely the exam of a lifetime. Pass or fail, pretty much determines what you will be in the next coming years.

CAs definitely deserve a pat on the back, not only is it hard work, but also requires a lot of professional judgement - and that is not an aspect that everyone possess.

[riceboi]

Originally posted by Disoblige
My god, I was reading this and I got stressed out reading the work required. Congrats to those who put in all that hard earned effort!

Mckenzie's post makes an Engineering degree seem like child's play.

Don't kid yourself ..Eng courses are hard. I took courses from both faculties so I know. Bcomm was like walk in the park. I never study that hard and still passed with high marks. I would fail if I do that with Engineering courses.

6 courses in a semester plus labs plus study time is not a child's play by any standards.

This is why Eng grads do well in MBA and Law Schools.

Congrats to all new CAs. You deserve the respect for all the hard work!!

[tenth]

McKenzie wasn't talking about a BComm, but the work required to get a CA AFTER the BComm. The BComm part is super easy.

[busdepot]

Mega bump.

Congrats to any 2014 writers who got it done this round.