Do CPA's in this country really receive huge salaries?
Question:
Answer:
It depends on your expected salary. Generally, they will not give you huge salaries. If you will compare it with other countries (youhave to study again), it's about 5 to 10 times more.
Hope this helps.
It depends on every company and on every place where the company exists.
Generally no. What Senior Accountants earn here is about 10-15times lesser than their western counterparts. What they earn here as managers is 8-10 times lesser than what is in the international market particularly the west. The salaries of VPs are usually 5-8 times lesser.
You can count with you toes and fingers the number of companies that pay the international rates to their officers and employees here. This is why MNCs usually bring in only the CEOs that would cost them quite a sum, then just hire the managers locally who by international standards are quite good but who come cheap in terms of salaries.
By filipino standards they do recieve a decent salary. That is also dependent upon the firm you work for though.
CPA's usually receive at least Php20,000/month. Thats quite high considering the minimum wage in Phils is Php8,000.
Thats almost triple.
Being a board passer will always have an edge. However it will depend on where you are, what company you work with, and do you settle for less.
Do you know that the wealthiest senator is a CPA?
Philippines is a good training ground for CPA's, specially if you get hired in good companies. Local salary is not that bad compared to other jobs, but having in practice for say at least 4 years gives you a clear edge to earn around 6 to 10 times outside the country.
Just being a CPA holder inj your senior years will probably earn you up to 30k-45k.. If you are tan owner and a CPA holder, then earning potential depends on your company's success. My friend started as an auditor with a big bank in the Philippines but she only gets 7,500 pesos a month of base pay. If you include allowances that the company gives then the most would probably 8,000 a month..That is why she just applied as a call center agent but still dealing with money. Its a credit card call center for a multinational corporation based in the Philippines and she started earning triple her original salary.
You can get the current industry rate at jobstreet.com. from accountant to financial manager. You need not to be a CPA in order to become a good financial accountant. I am not a CPA and Im receiving 90K ++ per month which I guess a bit higher if I am a CPA.
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