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Topic: Income potential: CPA/CIA or CPA/CFE (

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Nan - Louisiana
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Joined: 15 May 2009
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Posted: 26 Feb 2010 at 19:13 \| IP Logged

Does anyone have a feel for the income potential of a CPA when combined with other certifications?

CPA/CFE/Forensic Accounting (CFF)

vs.

CPA/CIA

Having completed my CPA, I am working on the CFE and will be moving out into the job market soon. I am utilizing the salary calculator websites, but I am having some second thoughts as I look up the salary potential of non-CPAs who are CFEs. I don't want to dead-end myself in a low paying sector of the market.

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Dokimcpa
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Posted: 02 Mar 2010 at 01:08 \| IP Logged

Nan-

I think you already know the answer to your question. It really depends on what you want to do and the relevant job you choose to pursue. CFE and CFF will pay off the most if you provide the relevant consulting services. Working in the government with CFE would not pay off as much.

CIA is for internal auditors and it will pay off the most when you become director of IA department. It is not really relevant outside of IA department. I know a IA manager with CIA and CISA and she still makes under 100k per year. I have heard a professional with CPA, CFE and CFF in consulting and makes well above 100k.

Another major difference is # of relevant positions available. While there are IAs on every public companies, there are just few fraud related positions. It really depends on how well you do- I hope you don't rely on the average salary stats too much.

I am also studying for CFE at the moment and aiming to finish by the end of March or early April.

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lelik
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Posted: 02 Mar 2010 at 09:41 \| IP Logged

Nan, once you have your CPA, all other licenses are inferior and will not (in the absolute majority of cases) contribute anything to your earnings. Instead of losing your time studying for the next test, get a job. It will definitely increase your chances. Experience is the only thing that really matters.
P.S. I am a CPA, and I am studying for the CIA, but I am doing it just for fun. Though I am an auditor, nobody cares whether I have a CIA. Think about it: outside of the accounting/auditing community nobody has even heard of any CIA/CFE/CISA.

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Dokimcpa
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Posted: 02 Mar 2010 at 10:14 \| IP Logged

I partially agree with lelik. The CPA counts the most, but there are also values for other certifications. It really depends on how you use it and the relevancy to your career. Having such industry based certification may or may not open up more doors, but it is generally recognized by much smaller group of organizations based on its industry, nature of business, and its needs.

I think certifications are almost worthless if you do not work on that specialty. I have seen a lot of people on inactive status on many certifications because they are no longer relevant to their career position and settings.

CPA stands out the most because it is issued by the state government just like lawyer's license and doctor's medical license. Certifications are simply recognition and such recognition would be given to you only by the interested party in that specialty or those in need of specific services. It does not provide any special privilege.

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Mayra
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Joined: 02 Mar 2010
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Posted: 02 Mar 2010 at 16:50 \| IP Logged

If you don't mind me asking, what program did you use to study and pass all test for the CPA?

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