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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.
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,
There's no reason why you couldn't/shouldn't apply here, unless the COL here while you are obtaining your masters degree is a factor. Ultimately, it will be your connections/internships that will get you future employment. This means who you know currently in TX vs who you will meet in Chicago among a much larger pool of applicants. How do the accounting programs rate in TX by comparison?
The 'net' after taxes/expenses will be something that only you can calculate accurately. Rent is a lot higher here than most areas of TX, spare Dallas & Houston IME.
In no way do you need an Ivy league degree to get jobs. OTOH, they do provide good connections if you take them.
Speaking Spanish fluently/being Hispanic here is in no way a drawback, but is not necessarily useful. Everyone has a different take on the dating scene (see various threads @ C-D).
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...
why do you need a masters to be a CPA? my sister only has a bachelors in accounting but is a CPA, and has NEVER had trouble finding jobs after getting that certification.
why do you need a masters to be a CPA? my sister only has a bachelors in accounting but is a CPA, and has NEVER had trouble finding jobs after getting that certification.
That was in the past. Now you really should be getting a Masters degree to move up the corporate ladder, etc.
Location: Pittsburgh (via Chicago, via Pittsburgh)
3,887 posts, read 5,521,355 times
Reputation: 3107
Quote:
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,
Hi! Glad you enjoyed the city. Your "stats" (haha) sound like you'd be a great fit. Fluency in Spanish is a huge plus for job applications here. You will have a lot of job prospects here. You will certainly not be at a disadvantage for being Hispanic when it comes to dating. I can't speak of graduate finance programs, as I am in the medical field, but there are some great universities in the Chicago area. Cost of living will be more than Texas, but salaries here are very competitive and Chicago is still definitely one of the best "bang for your buck" cities in America. Would you plan on keeping your car? Being in finance, I'd assume you would be working in the Loop. Living car-free is quite easy, especially if working in the Loop, and can also save you lots of cash.
Dating shouldn't be a problem at all, there are 2,000,000 Hispanics in the metro area and they're quite engrained in everything.
I actually lived in Iowa and did my undergrad, then moved to Chicago and did my masters and got my CPA. This was years ago, but I'm glad I paid a bit more and did the program here. It's good to have a year in school to get your foot in the door in Chicago. Get a stable apartment situation, get used to the city, network and meet people, go to job fairs and things through the university that will open your doors to getting a full time job.
Chicago is GREAT for accounting and finance. High paying jobs, tons of them, lots of opportunities right out of school. I've never known anyone who had trouble in that field.
You pay the 3.75% income taxes, but there are no other "payroll" taxes on top of that. It's just part of living in a state that charges income taxes. Really I didn't think much of it. I save so much taking public transit instead of a car that it made up for it and more. That and I got a good salary.
It sounds like a good idea. There are many benefits to living in Chicago despite what you read about crime and high costs. The high costs is true, taxes and such but our salaries here are greater than other areas. You should be able to find a job here, and being Hispanic and bilingual is a plus. There are many Hispanics in Chicago and the Chicago area so dating and socializing should not be a problem. You might want to come and establish residency here so you can get in state tuition at a place like the University of Illinois-Chicago. Not to be confused with the University of Chicago. Huge tuition costs at the private schools such as U of Chicago, Northwestern, etc. Loyola and DePaul are options. You might want to check out DePaul university it has its business school downtown and you can easily take night courses after work if you work in the downtown area.
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,
Are you targeting being hired by a Big 4 or other CPA firm? It sounds like you aren't sure yet and are open to other job prospects so it's difficult to advise on what your next move should be.
As someone else has mentioned, the University of Illinois (based in Champaign) does actually provide a Masters program in Chicago. It may only be for tax though, but that's a good option if that's what you want to get into. As far as I know, DePaul may be a better target for a masters than Loyola. I'm not sure how much the big firms recruit from Loyola. I know they recruit from DePaul, but obviously not as much as schools like Illinois, Northern Illinois or Notre Dame. From a recruiting standpoint, I'd advise against UIC (University of Illinois at Chicago). It is quite affordable but you would need to do a lot more leg work on your own to stand out to get a job, at least if you're looking at a Big 4.
If you want to work at a CPA firm and go into audit/assurance, as far as I understand, having worked at two larger CPA firms, they don't seem to care if you have your masters. If you have your 150 hours and are CPA eligible you should be okay, unless that changed in the last 2-3 years.
Having a masters or MBA would be helpful if you wanted to get into the consulting field or eventually move up in an accounting or finance department of a corporation.
Unfortunately, I can't speak to anything about being Hispanic or the dating scene much.
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!
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