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I live in Boston. While there are plenty of accounting jobs, there is also a lot of competition.
And yeah, planning on getting my CPA.
And yeah, planning on getting my CPA.
Any Accounting majors/accountants on NT?
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Big 4 Alum and CPA checking in.
Overall I'm happy with my decision to pursue a career in accounting. Here's what I did:
-Maintained a 3.5 GPA in college.
-Snagged an internship at a big 4 my junior year.
-During my internship I knew nothing. The key to succeeding is having a great attitude. Smile, nod your head, and do what you're told to do with enthusiasm on your face. Don't try to reinvent the wheel. Got an offer for a full time job.
-With that full time offer under my belt, I went nuts my senior year in college. My GPA dropped to just above 3.0 by the time I graduated
. Luckily, they didn't retract their offer.
-Graduated college and started work. Reality hit me hard. Worked 50 to 60 hours a week on average. Pulled a few all nighters, had no social life, yambs were scarce, I was miserable. Spent 4 years doing that......BUT......those were the most important years of my professional career. Learned so much. After working 12 hour days, I would come home to study for the CPA exam, till like midnight. Wake up and do it again. Passed my CPA. Learned so much from the job, both technical accounting wise and human psychology in the work environment wise as well. Most valuable years of my life thus far.
-By the time I turned 27, after 4 years at big 4, as a CPA, I got a job offer from one of the clients I audited. A manager position getting paid over $110k. Work life balance is amazing, 40 hours a week. I'm home by 6 everyday.
-I honestly think landing my job now would only be possible by going through that pain period where I had no life for 4 years. When people see Big 4 + CPA on your resume, they KNOW you are serious about your career. I'm not the smartest guy in the world. You don't have to be. If you are good with people, and somewhat intelligent, with drive and ambition, you'll do well.
Overall I'm happy with my decision to pursue a career in accounting. Here's what I did:
-Maintained a 3.5 GPA in college.
-Snagged an internship at a big 4 my junior year.
-During my internship I knew nothing. The key to succeeding is having a great attitude. Smile, nod your head, and do what you're told to do with enthusiasm on your face. Don't try to reinvent the wheel. Got an offer for a full time job.
-With that full time offer under my belt, I went nuts my senior year in college. My GPA dropped to just above 3.0 by the time I graduated
-Graduated college and started work. Reality hit me hard. Worked 50 to 60 hours a week on average. Pulled a few all nighters, had no social life, yambs were scarce, I was miserable. Spent 4 years doing that......BUT......those were the most important years of my professional career. Learned so much. After working 12 hour days, I would come home to study for the CPA exam, till like midnight. Wake up and do it again. Passed my CPA. Learned so much from the job, both technical accounting wise and human psychology in the work environment wise as well. Most valuable years of my life thus far.
-By the time I turned 27, after 4 years at big 4, as a CPA, I got a job offer from one of the clients I audited. A manager position getting paid over $110k. Work life balance is amazing, 40 hours a week. I'm home by 6 everyday.
-I honestly think landing my job now would only be possible by going through that pain period where I had no life for 4 years. When people see Big 4 + CPA on your resume, they KNOW you are serious about your career. I'm not the smartest guy in the world. You don't have to be. If you are good with people, and somewhat intelligent, with drive and ambition, you'll do well.
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yea i also have no passion for anything. I only chose this degree to make money but a this point im just tired of school and have no motivation to continue. I also wont be receiving any financial aid anymore(i hit the limit) for school so this will be my last semester.
Knowing that I cant go back to school has pretty much killed the little motivation i have left. I just have to fall back on my first degree now and make something happen.
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be my sensei
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- 3,951
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- Apr 12, 2013
Change out of accounting, ASAP.
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Yea i know its only going to get more difficult. I have my second test tomorrow and i know 100% im going to bomb.
I really thought i was good at accounting in the beginning but i realized that I was only good at the math portion. Everything else has been a struggle for me.
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Don't sweat it. I swapped out of accounting my second to last semester of college. Tough pill to swallow at the time but best decision I've ever made. Not to mention accountants are a dime a dozen. I put a job posting up the other day and received close to 50 applications.
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If anyone can assist, please do. If not it's all good. Procrastinated and I only have until 11:58pm to submit it
What is the value of the lowest value contract today and the highest value contract today?
What is the value of the lowest value contract today and the highest value contract today?
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^For actors 1 and 2 use the PV of $1 tables
For actors 3 and 4 use the PV of an annuity tables.
Im not sure about my answers though but $779,068.9 is the highest and Actor 4 and $762,758.87 is the lowest and Actor 1
For actors 3 and 4 use the PV of an annuity tables.
Im not sure about my answers though but $779,068.9 is the highest and Actor 4 and $762,758.87 is the lowest and Actor 1
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The lowest answer was right, not the highest. I get the correct answers tomorrow. Thanks alot though, that answer came through in the clutch
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My bad bruh the highest number was $780,427(Actor 3). I was looking at the wrong number
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Still don't know how you got that. Maybe cause I'm tired. I'll take another look at it in the morning
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Props to you for your success but let's not get carried away with that dime a dozen statement. There are many different types of accountants. A GL accountant is very different from a corporate controller. Both come from accounting backgrounds, but their salaries are very different.
Accounting is the language of business. Whatever industry you're in, whatever country you're in, whatever statutory rules you are bound by, accounting is fundamental to business. It's a valuable skill set to have that has demand in any economic climate, whether we're in a recession or economic prosperity, you're gonna need accountants through it all. Can't say the same for other finance folk in say FP&A/strategic planning, which is a respectable field without a doubt, but those groups are far more sensitive to headcount reduction than accountants are.
Accounting is a great career path and a great place to start, especially if you aren't sure what you want to end up doing. Many CFO's started out in accounting/CPA before they branched out into finance, because, I can't stress this enough, accounting is the basic language of business and it never hurts to know how a balance sheet and P&L work together.
Sure, it's no where close to being as "glamorous" and "sexy" as banking or hedge fund managing, but not everyone is built for that, and that's ok. I'm in my late 20's making over $140k as an accountant. All I have is an accounting undergrad, CPA and big 4 experience, nothing fancy. I'm not "wealthy" by any means but what I earn provides me with what I need. I continue to learn every day and get challenged everyday. To each his own but I'd recommend accounting to anyone
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^^ Cosign with above statement,
Accounting is truly the language of business and every industry and every company needs accountants, financial analysts etc. And there's a lot of different ways you can go with accounting from private firms, to government, to non profit organizations etc etc. Taxes, Audit, Payroll, Financial Analysis etc etc there's a lot of different directions you can go with accounting.
I partied a lil too much in college and ended with a 2.9 GPA
However, i was able to land a job one month after graduation at a non profit and the experience was dope. I was in charge of making the next fiscal year budget, payroll reconciliations, handling grants etc etc. Worked for about a year and got a better job with better pay and better benefits.
Experience is everything, my gpa was low but i made it up with internships etc. I practically worked minimum wage for a small accounting firm for 2 months in college but was able to really click with one of the managers since he watched a lot of sports and we had First Take type debates all day in the office. He really vouched for me as a reference.
If your in college and can't land an internship i suggest just volunteering for a month or two in a relevant place to just to put it down on the resume and have something to talk about in the interviews.
The real world is much different that what it seems. Although GPA is a great indicator of work ethic/intelligence sometimes life just ain't fair. And Experience is everything,
Got one of my friends who faked a couple years of experience, got a 2.3 in school, parties n blazes on the daily and is making 90k at 25 working in the IT field after graduating in accounting.
Another friend is one of the smartest and most hardworking guys i know who graduated from uva with a 3.9 in finance n is working as a water delivery guy to make ends meet. Been 2 years since he graduated so idk how he's still in that situation must not have the best interview skills.
Not saying GPA doesn't matter cause it does, I was stressed over my low GPA since i couldn't even qualify for some good jobs due to it but i found a way around it.
Accounting is truly the language of business and every industry and every company needs accountants, financial analysts etc. And there's a lot of different ways you can go with accounting from private firms, to government, to non profit organizations etc etc. Taxes, Audit, Payroll, Financial Analysis etc etc there's a lot of different directions you can go with accounting.
I partied a lil too much in college and ended with a 2.9 GPA
However, i was able to land a job one month after graduation at a non profit and the experience was dope. I was in charge of making the next fiscal year budget, payroll reconciliations, handling grants etc etc. Worked for about a year and got a better job with better pay and better benefits.
Experience is everything, my gpa was low but i made it up with internships etc. I practically worked minimum wage for a small accounting firm for 2 months in college but was able to really click with one of the managers since he watched a lot of sports and we had First Take type debates all day in the office. He really vouched for me as a reference.
If your in college and can't land an internship i suggest just volunteering for a month or two in a relevant place to just to put it down on the resume and have something to talk about in the interviews.
The real world is much different that what it seems. Although GPA is a great indicator of work ethic/intelligence sometimes life just ain't fair. And Experience is everything,
Got one of my friends who faked a couple years of experience, got a 2.3 in school, parties n blazes on the daily and is making 90k at 25 working in the IT field after graduating in accounting.
Another friend is one of the smartest and most hardworking guys i know who graduated from uva with a 3.9 in finance n is working as a water delivery guy to make ends meet. Been 2 years since he graduated so idk how he's still in that situation must not have the best interview skills.
Not saying GPA doesn't matter cause it does, I was stressed over my low GPA since i couldn't even qualify for some good jobs due to it but i found a way around it.
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I'm a CPA - just finished my 9th busy season.
I'm also a manager and quite happy. I'm not at a Big 4 - yet, but am lucky enough to enjoy my industry. Specifically, investment companies (i.e. - hedge, vc, p/e and real estate).
I enjoy the dynamics of public accounting from the standpoint that corporate accounting/private accounting would be too static for me. I have enough clients doing different things that I'm constantly challenged especially when it comes to valuation.
During undergrad I was no super star, but I also had no Big 4 aspirations. I started at a national firm and am still at one - though change seems imminent so I'll most likely get the "big 4" upgrade to the resume (hopefully with a sr. mgr next to it) without having to do anything differently. I interviewed at dozens of places and mulled over a couple offers ultimately deciding I wanted to be back in the SF Bay Area when I graduated college.
Cost accounting is the devil. That stuff made no sense to me - I understood enough of it to pass in college and get my license but as of today I couldn't tell you anything about it.
The hours can be crappy, but depending on the firm, you can do ok your first few years. The big 4 comp higher because they don't pay OT where national firms pay you overtime. Generally time and a half your first two - four years (again, depending on the firm). Managers up make good money consistently since the hours can drop off after Q1, so you're on a higher salary by then since no OT.
I'm also a manager and quite happy. I'm not at a Big 4 - yet, but am lucky enough to enjoy my industry. Specifically, investment companies (i.e. - hedge, vc, p/e and real estate).
I enjoy the dynamics of public accounting from the standpoint that corporate accounting/private accounting would be too static for me. I have enough clients doing different things that I'm constantly challenged especially when it comes to valuation.
During undergrad I was no super star, but I also had no Big 4 aspirations. I started at a national firm and am still at one - though change seems imminent so I'll most likely get the "big 4" upgrade to the resume (hopefully with a sr. mgr next to it) without having to do anything differently. I interviewed at dozens of places and mulled over a couple offers ultimately deciding I wanted to be back in the SF Bay Area when I graduated college.
Cost accounting is the devil. That stuff made no sense to me - I understood enough of it to pass in college and get my license but as of today I couldn't tell you anything about it.
The hours can be crappy, but depending on the firm, you can do ok your first few years. The big 4 comp higher because they don't pay OT where national firms pay you overtime. Generally time and a half your first two - four years (again, depending on the firm). Managers up make good money consistently since the hours can drop off after Q1, so you're on a higher salary by then since no OT.
- 3,859
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- Apr 5, 2012
Big 4 Alum and CPA checking in.
Overall I'm happy with my decision to pursue a career in accounting. Here's what I did:
-Maintained a 3.5 GPA in college.
-Snagged an internship at a big 4 my junior year.
-During my internship I knew nothing. The key to succeeding is having a great attitude. Smile, nod your head, and do what you're told to do with enthusiasm on your face. Don't try to reinvent the wheel. Got an offer for a full time job.
-With that full time offer under my belt, I went nuts my senior year in college. My GPA dropped to just above 3.0 by the time I graduated. Luckily, they didn't retract their offer.
-Graduated college and started work. Reality hit me hard. Worked 50 to 60 hours a week on average. Pulled a few all nighters, had no social life, yambs were scarce, I was miserable. Spent 4 years doing that......BUT......those were the most important years of my professional career. Learned so much. After working 12 hour days, I would come home to study for the CPA exam, till like midnight. Wake up and do it again. Passed my CPA. Learned so much from the job, both technical accounting wise and human psychology in the work environment wise as well. Most valuable years of my life thus far.
-By the time I turned 27, after 4 years at big 4, as a CPA, I got a job offer from one of the clients I audited. A manager position getting paid over $110k. Work life balance is amazing, 40 hours a week. I'm home by 6 everyday.
-I honestly think landing my job now would only be possible by going through that pain period where I had no life for 4 years. When people see Big 4 + CPA on your resume, they KNOW you are serious about your career. I'm not the smartest guy in the world. You don't have to be. If you are good with people, and somewhat intelligent, with drive and ambition, you'll do well.
Well, done and thanks for being so informative. I've made the career change to accounting and it is always great (and inspiring) to hear about the career path of other people.
I'm a bit older (2
and am about 75% done with a Master of Accountancy program. I did an undergrad in Business Economics. I really never thought I'd be going back to school for accounting. I hated those classes as an undergrad. Now, it's actually been a fairly interesting study path for me. Currently have a 3.97.I did the Meet the Firms and got a few internship offers; and some from the Big 4. I decided to go with a well known, but still growing a lot, regional firm. I have no desire at my age to be grinding the Big 4 style. I'd rather be a big fish in a smaller pond.
If you don't mind, would you say what market you in and how your salary progressed through those 4 years? When did you get your CPA/how did that affect salary?
I'm in the San Francisco area and hope to get a full-time offer (after the internship) in the 75k for a first year audit staff. Am I being crazy or is that realistic? I'll likely graduate with a 3.8+ and with the CPA test fully completed/enough units etc for licensure. My internship offers ranged from $23/hour to $28 an hour (40 hour work week).
My not so great understanding of a career path:
1-2 years: Audit Staff
1-2 years: Audit Senior
2+ years: Audit Manager
Is that generally right?
Well, done and thanks for being so informative. I've made the career change to accounting and it is always great (and inspiring) to hear about the career path of other people.
I'm a bit older (2
I did the Meet the Firms and got a few internship offers; and some from the Big 4. I decided to go with a well known, but still growing a lot, regional firm. I have no desire at my age to be grinding the Big 4 style. I'd rather be a big fish in a smaller pond.
If you don't mind, would you say what market you in and how your salary progressed through those 4 years? When did you get your CPA/how did that affect salary?
I'm in the San Francisco area and hope to get a full-time offer (after the internship) in the 75k for a first year audit staff. Am I being crazy or is that realistic? I'll likely graduate with a 3.8+ and with the CPA test fully completed/enough units etc for licensure. My internship offers ranged from $23/hour to $28 an hour (40 hour work week).
My not so great understanding of a career path:
1-2 years: Audit Staff
1-2 years: Audit Senior
2+ years: Audit Manager
Is that generally right?
Easier to think this way -
Year 1 and 2: Staff 1 and Staff 2
Years 3 - 5: Audit senior - 1,2,3
Year 5+: Audit manager (typically, first real promotion - i.e. you may not make it that quick or you may make it in 4 years).
Year 8: Senior Manager
Year 10-11: Partner ability, though rare that early, it's usually the earliest it comes. This assumes you made mgr in year 5 and sr manager year 8.
Check out Robert Half's guide to salary, it's decent and broken down by firm size. For regional/national firms in SF, it'll be somewhere like:
starting: $45-50k, plus OT
Senior: 60's - low 70's, topping out around 80 and less OT (i.e. may only be Time)
Manager - mid 90's low 100's
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Hmm okay I did use Roberthalf's but it seems off to me. As in it has SF listed with a 1.35 multiplier (if I remember correctly from seeing it 3 months ago) so a starting salary should be 1.35x higher than what the national average is. Sigh. Thanks for the info about the career path. Makes sense.
Edit:
Checked glassdoor for salaries in SF audit staff 1 for this firm and it is about 55k. Thanks.
Edit:
Checked glassdoor for salaries in SF audit staff 1 for this firm and it is about 55k. Thanks.
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Majorbread
formerly 40inchboost
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- Jul 16, 2009
Current Big 4 checking in, almost two years in.
Overall I would say its a nice job to have out of college, you get a lot of opportunity/responsibility that you wouldn't get elsewhere so soon out of school. There are definitely a lot of pros and cons to that as well.
After finishing busy season #2 im kind of at a crossroads in terms of where to go next. I don't aspire to work in the accounting function within industry as most of those guys I've seen still have a Public accounting/work more hours than necessary mindset. But more so because IDGAF about journal entires and want to utilize my skills in financial forcasting/analysis type areas. So unless I can land a finance related job over these next few months I will probably stay for another busy season which for me kind of starts in the Fall with an 8/31 public year end client. Kind of hinders my focus for the CPA as well. I have two done but no motivation to dedicate the time when I don't want to have a job where that is a requirement.
I don't want to knock the job itself, because i do think you learn alot and get great experience, granted its not for everyone, but there are some things about the Nature of Public accounting that I dislike very much so. People at my office are very accounting intelligent, outside of that, well very hit or miss.
All experiences vary depending on the size of your office, clients, and people you work for. Some have a good draw some have a poor draw, but if you manage to get to a Big 4, at a very minimum just stay for 2-3 years/or until you get some senior experience, get your CPA and you'll be good money. If your about that accounting life then the longer you stay the better.
And if not a Big 4 dont sweat it you'll be fine. I hate the mentality of "you cant be successful if you dont have a Big 4 on your resume" Biggest load of **** i've ever heard, but I feel like its preached quite too often by professors who have their own agenda.
AND TO THOSE STILL IN SCHOOL TRYING TO FULFILL THE CREDIT REQUIREMENTS, I WOULD SERIOUSLY RECOMMEND LOOKING IN TO AN ACCOUNTING AND FINANCE DOUBLE MAJOR, RATHER THAN GETTING A MASTERS IN ACCOUNTING. FOR BOTH PERSONAL AND CAREER REASONS YOU WILL BE BETTER OFF FOR IT I GUARANTEE IT. CRAZY HOW MANY PEOPLE HERE KNOW NOTHING FINANCE RELATED
Overall I would say its a nice job to have out of college, you get a lot of opportunity/responsibility that you wouldn't get elsewhere so soon out of school. There are definitely a lot of pros and cons to that as well.
After finishing busy season #2 im kind of at a crossroads in terms of where to go next. I don't aspire to work in the accounting function within industry as most of those guys I've seen still have a Public accounting/work more hours than necessary mindset. But more so because IDGAF about journal entires and want to utilize my skills in financial forcasting/analysis type areas. So unless I can land a finance related job over these next few months I will probably stay for another busy season which for me kind of starts in the Fall with an 8/31 public year end client. Kind of hinders my focus for the CPA as well. I have two done but no motivation to dedicate the time when I don't want to have a job where that is a requirement.
I don't want to knock the job itself, because i do think you learn alot and get great experience, granted its not for everyone, but there are some things about the Nature of Public accounting that I dislike very much so. People at my office are very accounting intelligent, outside of that, well very hit or miss.
- Annual promotions are good and bad. Not everyone is ready to be a senior and not everyone is ready to be a manager. Working for those people is tough and you need to have alot of patience.
- I dont think we get paid fairly. When we are "protecting the integrity of the markets" considering the total US market cap is in the TRILLIONS.... They basically count having them on your resume as compensation, but you cant cash that in until you leave.
- I love the PTO time of 5 weeks/year as thats untouchable anywhere else IMO, unless you've been there for 25 years.
- There is no incentive to be efficient at work. "Oh your done? Great, here's more work I dont want to do so I will delgate to you" I've seen a coworker at the top of my class do this, talked with him last week and dude sounded burnt out as hell, felt bad for him. Since your in client service you cant just leave when the work is done. I learned this is how people become so good at "looking busy" and turn 25 hours worth of work into 40 because your not penalized for it either. Again though goes back to people not ready to be a good senior or manager.
All experiences vary depending on the size of your office, clients, and people you work for. Some have a good draw some have a poor draw, but if you manage to get to a Big 4, at a very minimum just stay for 2-3 years/or until you get some senior experience, get your CPA and you'll be good money. If your about that accounting life then the longer you stay the better.
And if not a Big 4 dont sweat it you'll be fine. I hate the mentality of "you cant be successful if you dont have a Big 4 on your resume" Biggest load of **** i've ever heard, but I feel like its preached quite too often by professors who have their own agenda.
AND TO THOSE STILL IN SCHOOL TRYING TO FULFILL THE CREDIT REQUIREMENTS, I WOULD SERIOUSLY RECOMMEND LOOKING IN TO AN ACCOUNTING AND FINANCE DOUBLE MAJOR, RATHER THAN GETTING A MASTERS IN ACCOUNTING. FOR BOTH PERSONAL AND CAREER REASONS YOU WILL BE BETTER OFF FOR IT I GUARANTEE IT. CRAZY HOW MANY PEOPLE HERE KNOW NOTHING FINANCE RELATED
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- May 14, 2013
Looks like there's quite a few people in the SF Bay Area.
What firms are you guys working for?
Also, what other firms have you worked for?
What firms are you guys working for?
Also, what other firms have you worked for?
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No need to give me props because it sounds like you're doing extremely well for yourself, but I should point out that with your background and age, you're the exception and not the rule. It would be misleading to make people following a similar path assume that they can make that kind of money with nothing more than some Big 4 experience. That said, once you hit your 30's the possibilities are endless. My brother is in his 40's, has 16 or so years of Big 4 experience, and he's pulling in over $1,000 a day as a consultant. And compared to some of his peers with similar experience he's not even making that much. But the flipside of it is that I've seen the sacrifice he's made to reach that point so I know the real story (and it's not a rosy picture as you've painted).
My comment that accountants are a dime a dozen was focused mainly on CPA's without Big 4 experience. I own an accounting business and I routinely get resumes from people with 3-5 years of public practice experience, all of whom are over qualified for the $18/hour position I am hiring for. But the fact that I am getting these resumes en masse tells me that they are indeed a dime a dozen and I will never have a problem filling these positions. So I stick by my statement, especially in the context of my position.
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currently working at a small audit firm, and i'm miserable. got hired out of college and the firm im at never really hired staff to train before, and mainly focused on grabbing seniors from other firms, and i'm feeling those effects right now. i haven't been challenged to do anything different from when i first started nor have i received any training in areas i want to get into. their idea of "training" consists of following prior year work papers.
i got promoted to senior earlier this year, but am still treated as a staff on engagements im assigned to. i'm 2 tests into my CPA and am having a lot of trouble finding motivation to finish - mainly because this firm has really turned me off on the profession
really contemplating of quitting, focusing on my tests, and applying to another firm, hopefully national or big 4 to revitalize my hunger to do better and challenge myself. i don't want to get stuck at this firm, being okay collecting paychecks, but the thought of applying and interviewing to other places is scary.
i got promoted to senior earlier this year, but am still treated as a staff on engagements im assigned to. i'm 2 tests into my CPA and am having a lot of trouble finding motivation to finish - mainly because this firm has really turned me off on the profession
really contemplating of quitting, focusing on my tests, and applying to another firm, hopefully national or big 4 to revitalize my hunger to do better and challenge myself. i don't want to get stuck at this firm, being okay collecting paychecks, but the thought of applying and interviewing to other places is scary.
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301216baller
Banned
- 10,928
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- Oct 7, 2013
don't quit..once you get the cpa possibly switch professionscurrently working at a small audit firm, and i'm miserable. got hired out of college and the firm im at never really hired staff to train before, and mainly focused on grabbing seniors from other firms, and i'm feeling those effects right now. i haven't been challenged to do anything different from when i first started nor have i received any training in areas i want to get into. their idea of "training" consists of following prior year work papers.
i got promoted to senior earlier this year, but am still treated as a staff on engagements im assigned to. i'm 2 tests into my CPA and am having a lot of trouble finding motivation to finish - mainly because this firm has really turned me off on the profession
really contemplating of quitting, focusing on my tests, and applying to another firm, hopefully national or big 4 to revitalize my hunger to do better and challenge myself. i don't want to get stuck at this firm, being okay collecting paychecks, but the thought of applying and interviewing to other places is scary.
