Thinking of moving to Chicago from Texas---I need advice. (Naperville: 2015, neighborhoods)

[Vlajos]

Originally Posted by Surf&Turf

Just do it! Just one advice: get a job lined up first...it can be difficult as sometimes out-of-state candidates are considered a logistic nightmare for employers, but it can be done...it will just be a little more difficult and it might take a little longer than if you were a local candidate.

Good luck!

Is that really true? We hire from out of state all the time. I agree though, personally I would never move without a job lined up.

[damba]

Originally Posted by Surf&Turf

Just do it! Just one advice: get a job lined up first...it can be difficult as sometimes out-of-state candidates are considered a logistic nightmare for employers, but it can be done...it will just be a little more difficult and it might take a little longer than if you were a local candidate.

Good luck!

Not really anymore beyond a very general sense. It truly depends on the opportunity and company.

[personone]

Originally Posted by windycity1990

Hello All,

I just came back from visiting the windy city and I must say that it is a beautiful place. My excuse to visit was for a weekend "getaway" but in reality, I was there to scope out the city and see if it was somewhere that I can live. Although I visited most of the tourists attractions, I was also using all public transportation so that I can feel like a local (CTA, Metra, buses, etc.). I decided to rent a hotel in Naperville, so I relied heavily on the Metra to go into the city, and I also used Uber several times.

Anyways, here is some more information about me:

1) I am from West Texas, I am of Hispanic descent but I speak English and Spanish fluently. I am 25 years old with no kids and not married.

2) I will be graduating with a BBA in Accounting from a fully accredited university in Texas (3.58 overall GPA), the University was rated a top 10 school on Washington Monthly's list of best universities. The University is not comparable to Booth school of Business or Wharton, but the program is fully accredited and prepares you with the foundation needed to be successful in Accounting. It is not a "target" school by big 4 firms, but we do have PWC come out and recruit every fall semester.

3) I do have very diverse work experience. I worked in banking for 4 years and I left the banking industry at the manager level, I feel this accomplishment has put me ahead of my peers because I will be graduating college with work experience in a business related field. I decided to leave the banking industry because I got tired of the sales, and now I am working at a local CPA firm as a business consultant. I feel both positions definitely make my resume stand out.

4) I do plan on completing a Master's in Accounting so that I can be CPA eligible. I am thinking of applying to Loyola since they do have a very good graduate program in Accounting. I know that Loyola is a target school for big 4 firms and I feel that If I get accepted there then I can build a strong network and graduate school with a few solid job offers in big 4.

Enough about me, here is some of my doubts about my "move" to Chicago and I was hoping to get some advice on these questions:

1) Would it be a bad move to apply for graduate school in Chicago? I am not looking forward to paying the out of state tuition, and college is much more expensive in Illinois than in Texas. However, I do feel that It will be worth it because Chicago is the 2nd biggest financial capital in the U.S., and my job prospects will increase tremendously just by living in the city.

2) Based on my research, Chicago has a higher starting salary for accountants, but there are also trade offs (Higher payroll taxes, state income tax, etc.). In Texas, we only pay federal income tax and social security/medicare. I feel that although I will be making a larger salary, much more of it will be going to taxes.

3) I know there is fierce competition for jobs in Chicago, especially in business. Will I be at a disadvantage if I did not go to school at an Ivy League program?

4) How is the dating scene in Chicago? Will I be at a disadvantage if I am Hispanic?

I hope that I was able to provide enough information to get some detailed opinions about my "move" to Chicago. I would really appreciate some strong feedback.

Best,

It's a fine strategy to target an MS Accounting program in Chicago if you know that you want to work for a Big 4 here after you finish. Although UI-Urbana Champaign historically has one of the strongest MS Accounting programs in the country, and they would definitely recruit you for a Big 4 Chicago office. UIUC is definitely ranked higher in MS Acct than any Chicago program (NW and U of Chicago don't offer MS in Acct, only MBA), and is probably cheaper since it's public. You may want to at least consider looking into UIUC since the programs are only 1 year long (you could survive living in a college town for 1 year), and would it would likely increase your chances of getting with a Chicago Big 4. Alternatively, I would just confirm that the Big 4 does in fact recruit at Loyola, and if you have strong undergrad accounting grades and GPA, along with some solid internship/ work experience, you should have no problem landing with a Big 4 in Chicago.

As far as social, Chicago is 30% Hispanic, so if that's your dating interest, you'll have no problem. It's also very diverse with all other races/ethnicities so whatever you like, you'll find here.

[personone]

Originally Posted by chet everett

Curious as to why OP thinks Loyola is worth pursuing Masters -- among CPAs in region Masters of Tax from University of Illinois is both better value and UofI grads dominate hiring at big accounting firms...


Savings on tuition at instate school in Texas could substantial and growth of CPA hiring in Dallas & Houston areas is tops in country...


For somethings it might makes sense to consider Chicago -- MBA from Nortwestern or University of Chicago fit into that category but not Master of Tax at Loyola...

I'm guessing he's interested in Audit. Big 4 public accounting recruits much more for audit as opposed to tax. An MBA from NW or UofC is useless for public accounting (Big 4). UI Urbana Champaign does have one of the highest ranked MS Accounting programs. An MS in Acct is now needed in most states to get enough credits to qualify for the CPA.

[Surf&Turf]

Originally Posted by Vlajos

Is that really true? We hire from out of state all the time. I agree though, personally I would never move without a job lined up.

Yep! I speak by personal experience...not all but many employers still won't even look at your resume if they see you're out of state. It still takes at least twice as much than if you were local unfortunately.

[damba]

Originally Posted by Surf&Turf

Yep! I speak by personal experience...not all but many employers still won't even look at your resume if they see you're out of state. It still takes at least twice as much than if you were local unfortunately.

You keep repeating this but it's not necessarily true. Like I said, it depends on the particular opportunity and company involved. FYI- my wife hires upwards of 30-50 individuals each month for US and global positions. More often than not it's someone from a different state/area of a particular country relocating for the job.

[personone]

Originally Posted by Surf&Turf

Yep! I speak by personal experience...not all but many employers still won't even look at your resume if they see you're out of state. It still takes at least twice as much than if you were local unfortunately.

Big 4 public accounting firms have offices in every major city in the US (and in the world). They usually recruit locally through universities, so if the OP does a Master's in Accounting program in a Chicago school that they recruit at, he'll have no problem, since he will be in Chicago. Alternatively, since the firms are so big, if you are recruited in one office (say Dallas) and you really want to work in another office (say Chicago), they will try to work with you and transfer you as long as they have a need/ enough openings. It's usually easiest to get transferred to bigger offices like NY, Chicago, LA since they have more clients/positions; so that's another option for the OP.

[fusillirob1983]

Originally Posted by personone

I'm guessing he's interested in Audit. Big 4 public accounting recruits much more for audit as opposed to tax. An MBA from NW or UofC is useless for public accounting (Big 4). UI Urbana Champaign does have one of the highest ranked MS Accounting programs. An MS in Acct is now needed in most states to get enough credits to qualify for the CPA.

An MS in Accounting isn't needed. The credit hours are needed and an MS is probably the most common way to get there these days. It's likely a wise way to go as it gives you additional accounting coursework, but for instance, it's possible to get a BS in Accounting and BS in Finance and reach the hours requirement.

[personone]

Originally Posted by fusillirob1983

An MS in Accounting isn't needed. The credit hours are needed and an MS is probably the most common way to get there these days. It's likely a wise way to go as it gives you additional accounting coursework, but for instance, it's possible to get a BS in Accounting and BS in Finance and reach the hours requirement.

True. You can get the additional credit hours however you want, so an MS in Acct isn't absolutely required. As you said though, the MS in Acct makes most sense. Also I think there are a few states that require certain, specific advanced accounting classes that you would get through an MS Acct program, so to cover all your basis, an MS Acct makes most sense.

[fusillirob1983]

Originally Posted by personone

True. You can get the additional credit hours however you want, so an MS in Acct isn't absolutely required. As you said though, the MS in Acct makes most sense. Also I think there are a few states that require certain, specific advanced accounting classes that you would get through an MS Acct program, so to cover all your basis, an MS Acct makes most sense.

Yes, I agree to an extent. My response was more in response to the OP's question. Illinois doesn't require the advanced classes. If the OP plans to move out of Illinois at some point, the MS would make sense. It also depends how many hours the OP already has. They said they're going to graduate with a BS in accounting. One thing I'll say about enrolling into an MS in accounting program, though, is that they'll have easier recruiting process than going on their own.