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I only have my bachelors in accounting and never had a desire to work in public accounting. I work for the government and although I don't make a lot of money, I'm comfortable with the amount I make relative to the stress I'm under. Plus, my job is very secure--even in this economy. I value that much more than my salary itself.
If I didn't work for the government, I'd go back to school and focus on some type of taxation degree. I know it's sick & wrong but I like doing individual tax returns.
The title says it all. Basically, I keep hearing that the Big 4 is the only way to make money in accounting, that partners at smaller firms max at 80k (that sounds way too low for a PARTNER even at a small firm), you can't work in industry without the Big 4 name, etc. So what is your guys' take on it? Do you feel that not working there has limited you in any way?
I have my CPA license (FL license where you only need the schooling requirement & not the work requirement), but have never had any desire to work in public accounting. I work at an investment bank doing accounting/finance work & I think only one person in our group of about 20 has ever worked in public accounting. Most of my co-workers do have an MBA, though. I think I'm paid well, even for NYC.
I have my CPA license (FL license where you only need the schooling requirement & not the work requirement), but have never had any desire to work in public accounting. I work at an investment bank doing accounting/finance work & I think only one person in our group of about 20 has ever worked in public accounting. Most of my co-workers do have an MBA, though. I think I'm paid well, even for NYC.
looks like Florida needs experience, BUT can use any work not just CPA firms
PASS ALL FOUR PARTS OF CPA EXAMINATION: with at least a 75% within 18 month rolling period.
ONE YEAR WORK EXPERIENCE: Must be supervised under a licensed CPA (This experience can be obtained prior to the application, while sitting for the exam or after all four parts of the exam has been passed.)
TOTAL REQUIRED HOURS: 150 semester or 200 quarter hours
TOTAL UPPER DIVISION ACCOUNTING HOURS: 36 semester or 54 quarter to include the following: Taxation, Auditing, Financial, Cost/Managerial and Accounting Info Systems.
TOTAL UPPER DIVISION GENERAL BUSINESS HOURS: 39 semester hours or 58 quarter hours to include the following: six (6) semester hours or eight (8) quarter hours of business law. One course can be at a lower lever (freshman or sophomore), the other course must be upper division (junior level or higher). Business Law 1 and Legal Environment of Business are often considered duplicate.
"In addition to experience obtain in the public accounting and government, the 2008 legislative change also allows experience obtained in industry and academia. "
Not true. I know of a partner in a local office (regional firm) that makes well into the six figures. Principals at small CPA firms (less than 10 people) can also make $250k+.
Plenty of routes for making good money if you maximize your experience in accounting (including becoming a CPA).
Not true. I know of a partner in a local office (regional firm) that makes well into the six figures. Principals at small CPA firms (less than 10 people) can also make $250k+.
Plenty of routes for making good money if you maximize your experience in accounting (including becoming a CPA).
Well I plan on being a CPA, and I'm busting my arse off to get internships whenever possible, and working hard even when I get a job. I'm just worried because my GPA isn't the greatest thing in the world and people keep talking about how great the Big 4 are, despite the fact that everyone I've talked to that worked there wanted to put a bullet through their brain. Plus, I've been perusing monster.com and it seems like a lot of controller positions want Big 4 experience, and I really want to be a controller.
I have to agree with BC71111, in that your professor's worship attitude towards the Big 4's is somewhat over rated. At my school, all of my accounting professors are CPA's and retired accountants. They do encourage people to work for mid-small size firms. Their reasoning? Well, for starters you do get much more exposure to all the accounting issues rather than to work in a specific department like what happens in most Big 4 firms. In addition, they said that they hate the working enviroment in Big 4's which I completely believe.
The only positive side I see is the reputation, and how that looks on your resume. Other than that, I think I would try to work for a year or two, just to have the experience, then would move on onto better opportunities. However, I would not make it a priority like most recent grads.
In terms of eventually becoming a controller, it would depend on what kind of companies you're looking at. Smaller public/middle market privately held companies certainly seem to hire out of regional firms. May be more difficult if you want to work for a Fortune 100 company.
In terms of eventually becoming a controller, it would depend on what kind of companies you're looking at. Smaller public/middle market privately held companies certainly seem to hire out of regional firms. May be more difficult if you want to work for a Fortune 100 company.
Well said. It depends on what your career goals are. Some people have a desire to work for a large Fortune 100 company, others do not.
Kind of off topic here, my apologies. I'll be starting in an accounting program next semester that will lead to a CPA. I have a four year degree in aviation and have been a professional pilot for the last 10 years.
The program is through a community college that most likely does not have any relationship with the Big 4. I'm wondering what my chances are of scoring a job with one of these firms if I ace my accounting program and pass the CPA?
Also wondering if anyone else has gotten a late start in accounting that might have some advice for me?
I would say your chances are slim. The Big 4 do all their recruiting off target school campuses in my experience. Is your 4 year degree school strictly aviation? If not, and they have an accounting program that firms recruit from, you can probably try to go back and use their career resources.
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