U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-19-2010, 10:42 AM
 
21 posts, read 65,148 times
Reputation: 10

Advertisements

Last year, I graduated from Wellesley College. I majored in English was also “pre-med.” For a variety of reasons, I no longer want to pursue a career in health care/medicine.

I'm now interested in becoming a CPA. I've heard mixed opinions. To some (my Wellesley/Harvard Econ-major friends) it's boring and "technical." To others (CPAs I've met) it's a great career choice. I didn't come here for opinions though. I read them on the other thread. I want to know of other business/finance/investing careers I should consider.

Thanks in advance!
Rate this post positively Reply With Quote Quick reply to this message

 
Old 02-19-2010, 09:58 PM
 
28,461 posts, read 76,351,694 times
Reputation: 18541
It is extremely unlikely that a pre-med major has prepared the OP to earn the designation of CPA without some additional coursework. That time could almost certainly be better spend on academic pursuits that have a higher probability of leading to a well paying career that will also dove-tail with the sorts of studies already undertaken.

There are many career paths that can result in a a very comfortable lifestyle but it can extraordinarily difficult to switch paths before you've done anything, as many people will label you as a perennial student. It would behoove you to carefully consider the things you have already studied and set aside.

Once you do that you may decide to embark on the additional studies need to garner the skills needs OR you may try to leverage the things you've already done to get on path you want. In either case it would be extremely wise to weigh the challenges you face and determine the kinds of things that may be needed.

There are many folks working on Wall Street that do not have an undergrad in a financial field. I am quite sure there are some from Wellesely that majored in English. They probably also did some internships, leveraged connections and realized it is very competitive to get to where they are.There are folks that track the performance of the health care firms that probably were thinking pre-med, but they shifted towards finacial analysis and it paid off.

Similarly there are lots of people, some very very well paid, that work on issues related to the broad range of how to make money running a firm in the health care field AND/OR have a role in the organizations both governmental and private sector that pay for health care. An advanced degree in health care administration, public administration or similar fields might be a excellent entry in that arena.

Additionally there are large numbers of folks that go to law school knowing that the skills they'll pick up there are highly valued by a whole range of organizations from law firms that specialize in representing health care organizations to investment firms that want people capable of understanding the implication of highly regulated industries...

There are many differences in the value of hiring a well prepared undergrad from a well regarded school that turns out folks that have long been geared to working in a firm that has many CPAs to instead hiring someone that may have earned a Masters in Accountancy immeadiately after undergrad and I would given some consideration to what your friends have said. The work that MOST folks that work in CPA heavy firms is highly technical and not much at all like majoring in English or preparing for Med School. The compensation that might eventually be within your reach will be a determined by the how you approach the next phase of your career development...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-24-2010, 06:59 AM
 
1 posts, read 4,006 times
Reputation: 10
CPA is the Certified Public Accountants certification , Certified Public Accountant (CPA) is the statutory name of trained accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have contacted added state learning and know-how obligations for certification as a CPA. Individuals who have passed the Exam but have not either carried out the needed on-the-job know-how or have before contacted it but in the meantime have lapsed their continuing expert education are, in numerous states, allowed the designation "CPA Inactive" or an matching phrase.[1] In most U.S. states, only CPAs who are permitted are adept to supply to the public attestation (including auditing) attitudes on financial statements. The exclusions to this direct are Arizona, Kansas, North Carolina and Ohio where, whereas the "CPA" designation is constrained, the perform of auditing is not.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-24-2010, 09:05 AM
 
Location: Southwest Missouri
1,921 posts, read 5,866,232 times
Reputation: 924
Quote:
Originally Posted by binniebaby View Post
I want to know of other business/finance/investing careers I should consider.
Perhaps you could expound on what draws you toward becoming a CPA. The scope of business/finance/investing is way too broad to start plucking out careers without any ideas about what you like and why.

Out of curiosity, have you ever taken a Myers-Briggs personality test? If not, I'd suggest plugging that phrase into a search engine and taking a few of the free tests online. The reason I suggest taking a few is to make sure that you get consistent results since the online versions are usually only about 70 questions or so. Once you know your personality type, you can read a description (which should sound very much like it was written about you personally) and also get some suggestions about career fit.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-26-2010, 11:11 AM
 
Location: Virginia Beach, VA
5,517 posts, read 9,420,097 times
Reputation: 2547
Quote:
Originally Posted by binniebaby View Post
Last year, I graduated from Wellesley College. I majored in English was also “pre-med.” For a variety of reasons, I no longer want to pursue a career in health care/medicine.

I'm now interested in becoming a CPA. I've heard mixed opinions. To some (my Wellesley/Harvard Econ-major friends) it's boring and "technical." To others (CPAs I've met) it's a great career choice. I didn't come here for opinions though. I read them on the other thread. I want to know of other business/finance/investing careers I should consider.

Thanks in advance!

My 22 year old engineer sister gave me one of the best pieces of advice. If the profession is a majority females, or the classes you take are filled with a majority females, do not pursue that.

It is very true. Male dominated industries, primarily science and math, are the highest paying and most respected one this earth.

If you want some evidence, I came across a recent Norfolk, VA area employment advertisement for a "CPA in a fast paced enviroment, 39k". What did my sister get offered in the civil engineering field, first job out of college? 55k.

Accounting and Finance is a joke. If you arent an Ivy League "rock star" and are heading for some investment bank on Wall Street to make you million dollar bonuses, you are going to end up working as some cubicle jockey for 30-40K in most every place in this country until you can get a coveted job with the IRS, or gain the 10-15 years of experience neccessary to be considered for a Controller or CFO job.

If you were considering ever pursuing a degree in any type of business field, Id say stop right now and seriously reconsider unless you have some kind of inside track into the acturarial sciences (or you have your card punched for Wall Street). Behind Liberal Arts, Business is probably the next biggest joke of a degree there is.

Some true words from a Finance graduate who has spent 6 years making less then 38k in accounting, currently moving to IT and considering going back to school for engineering.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-26-2010, 01:59 PM
 
21 posts, read 65,148 times
Reputation: 10
Quote:
Originally Posted by chet everett View Post
It is extremely unlikely that a pre-med major has prepared the OP to earn the designation of CPA without some additional coursework. That time could almost certainly be better spend on academic pursuits that have a higher probability of leading to a well paying career that will also dove-tail with the sorts of studies already undertaken.

There are many career paths that can result in a a very comfortable lifestyle but it can extraordinarily difficult to switch paths before you've done anything, as many people will label you as a perennial student. It would behoove you to carefully consider the things you have already studied and set aside.

Once you do that you may decide to embark on the additional studies need to garner the skills needs OR you may try to leverage the things you've already done to get on path you want. In either case it would be extremely wise to weigh the challenges you face and determine the kinds of things that may be needed.

There are many folks working on Wall Street that do not have an undergrad in a financial field. I am quite sure there are some from Wellesely that majored in English. They probably also did some internships, leveraged connections and realized it is very competitive to get to where they are.There are folks that track the performance of the health care firms that probably were thinking pre-med, but they shifted towards finacial analysis and it paid off.

Similarly there are lots of people, some very very well paid, that work on issues related to the broad range of how to make money running a firm in the health care field AND/OR have a role in the organizations both governmental and private sector that pay for health care. An advanced degree in health care administration, public administration or similar fields might be a excellent entry in that arena.

Additionally there are large numbers of folks that go to law school knowing that the skills they'll pick up there are highly valued by a whole range of organizations from law firms that specialize in representing health care organizations to investment firms that want people capable of understanding the implication of highly regulated industries...

There are many differences in the value of hiring a well prepared undergrad from a well regarded school that turns out folks that have long been geared to working in a firm that has many CPAs to instead hiring someone that may have earned a Masters in Accountancy immeadiately after undergrad and I would given some consideration to what your friends have said. The work that MOST folks that work in CPA heavy firms is highly technical and not much at all like majoring in English or preparing for Med School. The compensation that might eventually be within your reach will be a determined by the how you approach the next phase of your career development...
Thank you for your response. I have alot of thinking to do!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-26-2010, 02:23 PM
 
21 posts, read 65,148 times
Reputation: 10
Quote:
Originally Posted by 8 SNAKE View Post
Perhaps you could expound on what draws you toward becoming a CPA. The scope of business/finance/investing is way too broad to start plucking out careers without any ideas about what you like and why.

Out of curiosity, have you ever taken a Myers-Briggs personality test? If not, I'd suggest plugging that phrase into a search engine and taking a few of the free tests online. The reason I suggest taking a few is to make sure that you get consistent results since the online versions are usually only about 70 questions or so. Once you know your personality type, you can read a description (which should sound very much like it was written about you personally) and also get some suggestions about career fit.
I took an official Myers-Briggs personality test in college. I'm ISTJ. Doctor is ALWAYS a suggested career. Honestly, I never wanted to be a doctor. Parental pressure led me on the "pre-med path." They figured since math and science came easily to me I should "just be a doctor."
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-26-2010, 02:41 PM
 
21 posts, read 65,148 times
Reputation: 10
Quote:
Originally Posted by Randomdude View Post
My 22 year old engineer sister gave me one of the best pieces of advice. If the profession is a majority females, or the classes you take are filled with a majority females, do not pursue that.

It is very true. Male dominated industries, primarily science and math, are the highest paying and most respected one this earth.

If you want some evidence, I came across a recent Norfolk, VA area employment advertisement for a "CPA in a fast paced enviroment, 39k". What did my sister get offered in the civil engineering field, first job out of college? 55k.

Accounting and Finance is a joke. If you arent an Ivy League "rock star" and are heading for some investment bank on Wall Street to make you million dollar bonuses, you are going to end up working as some cubicle jockey for 30-40K in most every place in this country until you can get a coveted job with the IRS, or gain the 10-15 years of experience neccessary to be considered for a Controller or CFO job.

If you were considering ever pursuing a degree in any type of business field, Id say stop right now and seriously reconsider unless you have some kind of inside track into the acturarial sciences (or you have your card punched for Wall Street). Behind Liberal Arts, Business is probably the next biggest joke of a degree there is.

Some true words from a Finance graduate who has spent 6 years making less then 38k in accounting, currently moving to IT and considering going back to school for engineering.
Male-dominated fields are more respected for a variety of reasons... How does your sister explain medicine?

What do you mean by "inside track" into the actuarial sciences?

How does one go back to school for actuarial sciences or engineering? Take courses "a la carte" at a local university? I ask because there don't seem to be any "post-bacc" programs for these fields. (While there are many for medicine, pharmacy, etc. ...) I also have ALOT of math to catch up on! Is it too late for me to pursue a math-intensive field?

By the way, if I wasn't pre-med I wouldn't have gone to a liberal arts college. I won't get into the excellent universities I turned down for my liberal arts alma mater. I was of the mindset that I could do WHATEVER because I was going to medical school!

I'm reconsidering because I noticed all of the CPAs I've met no longer work in public accounting. One's a consultant and all of the others left screaming.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-26-2010, 03:14 PM
 
Location: Virginia Beach, VA
5,517 posts, read 9,420,097 times
Reputation: 2547
Quote:
Originally Posted by binniebaby View Post
Male-dominated fields are more respected for a variety of reasons... How does your sister explain medicine?
Medicine is still male dominated, as far as MDs. Most all of the support positions, namely nurses, are female, and are highy disrespected. Most levels of nursing can look forward to making less then 40k for the rest of their lives.

My sister explained this phenomena by stating that for some reason or other, women flock to "easy" degrees or "artistic" degrees that either arent applicable in the business world, or arent viewed as a quality profession.


Quote:
Originally Posted by binniebaby View Post
What do you mean by "inside track" into the actuarial sciences?
Actuarial sciences are the only good non-Wall Street job a person from business school can actually get without employing nepotism. Correspondingly, they are difficult to get and often require GPAs over 3.5 just to start. Many companies will start grooming them in junior year.

Quote:
Originally Posted by binniebaby View Post
How does one go back to school for actuarial sciences or engineering? Take courses "a la carte" at a local university? I ask because there don't seem to be any "post-bacc" programs for these fields.
Well, an MBA would probably be your best shot at trying to get in to actuarial sciences after the fact, and also while trying to duck redoing most of a bachelors degree. However, if you are getting an MBA, you probably would already be trying to compete for jobs that are higher paying then actuarial sciences.

Engineering or Mathematics would almost surely require you to nearly start over from the general ed reqs and start again. Although, Engineering often requires chemistry and physics classes as general reqs that you may have already satisfied on your premed track.



Quote:
Originally Posted by binniebaby View Post
I'm reconsidering because I noticed all of the CPAs I've met no longer work in public accounting. One's a consultant and all of the others left screaming.
You will regret getting a CPA and will regret entering the accounting field. I promise you that. A better use of your time would be getting a juris doctorate, which requires about the same education, but will punch your ticket to much bigger things then a CPA ever will.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-26-2010, 03:37 PM
 
28,461 posts, read 76,351,694 times
Reputation: 18541
If I read the situation you are dealing with, you've finished a degree that you pretty much understand to have no clear career path (English), with a set ancillary skills that you no longer want to pursue (premed).

This really NOT THAT UNCOMMON. The way to get yourself "back on the road to a real life" is PROBABLY NOT to start throwing darts at careers that rank high on the list of "lucrative and clear path for entry".

I strongly recommend that you don't just take the generalized "personality tests" but do some more specific investigation. One EXCELLENT resource that make sense is the APTITUDE testing offered by Johnson O'Connor Foundation. It is far more in-depth than anything else: Aptitude testing for college students

I would further recommend that you DO SOMETHING as quickly as possible to get used to earning money and showing up at an office. If that involves getting a job at some temp agency or retailer DO IT as in my experience nothing helps to sharpen your focus as much as hating a job...

The interwebs are FILLED WITH RESOURCES and the Society of Actuaries has some great stuff:
Be An Actuary - Newsroom - The Future Actuary - September 2000

I would caution that among the successful actuaries I've known there seems to a pretty large number that have either a stellar background in 'theoretical mathematics' or a really businessy law /MBA type focus. Granted I only know about half a dozen actuaries (and I work in field with quite few of them...) but I'd be really cautious about "missing" whatever it is that gets some folks into those fields vs something like English...
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top