Pass the CPA Exam - Why? Firms Provide Bonuses

With staggering pass rates of the CPA exam in the 40% range on individual exams, and as low as 10% for all candidates passing the first time through, many people lack motivation to stand up to this kind of punishment. The study material is expensive, time consuming, and generally not very fun. So why does anyone put themselves up against this exam? Other than the obvious long term benefit of career advancement, many firms provide short-term incentives for their employees to pass the exam either before they start or in the first few years at the firm.

Positive thinking and reward psychology is what gets many through. How much does the firm you are working at, will be working at, or want to work at offer? One employee for a major accounting firm reported a $5,000 bonus for entering the firm with a CPA license. If you break this down, that is $1,250 per section of the exam. He told me that he stays motivated by reminding himself exactly how much money he is making for each section, and treats it like a job.

Reminding yourself with positive thinking techniques is important while studying for long hours. Several candidates preparing for the exam come down with common cold-like symptoms because of negative stress. Positive thinking can prevent these, giving you more up time for the exam preparation. Some of these can be:

• This exam is only temporary, but the benefits of passing will be lasting.
• I will make more money with my CPA
• I will get more respect from those in my profession
• And the list goes on... see my list of reasons to pass the exam now!