Accounting & Finance Majors.......Current or Graduated Welcome

Currently studying Management for my BBA at University of Toronto. Bout to start second year in a few days, I still don't know if I necessarily want a career in business but I figured I'd go through with it and get my degree since it's a nice degree to fall back on if all else fails. I prefer finance far more than accounting, accounting seemed like such a hassle for me in school and I still have managerial accounting to take in Year 3. Finance is a bit wider, there is much more depth and a lot more jobs in finance as to accounting (at least I think anyway).
 
Originally Posted by LazyJ10

I'm a CPA, currently at a big nationwide/regional firm specializing in financial services. I came from a firm with a real estate presence but ultimately grew tired of it.

I can't see myself in anything but Public in terms of accounting related work. The thought of private industry in anything short of a Controller, CFO/CEO just would bore me to no end. DeadsetAce is now a Corp Suit whom I've lost respect for (jk).

Don't think of Accounting/Finance as a ticket to earnings, because if you're chasing the almighty dollar there's a real solid chance you'll grow tired of it and hate yourself while contemplating how much time you wasted.

Big 4s are over rated. Yeah, I get it, you have opportunities, blah blah blah. Realistically, it goes something like this. You pick audit/tax right off the bat, your client base initially is based on availability, if you work on a big client odds are you work on one AREA of a client (i.e - cash recs, accounts payable, etc) versus the entire set of accounts, you're at the mercy of everyone above you. The payoff is great if you're one of the better ones who can tollerate it while working on a client/industry you actually enjoy.

A better idea is, find a accounting firm who works/specializes in something that interets you. You'll instantly be more happy and work better. Then when you divide your salary by huors worked it won't feel as bad.

Though, I do know out of college you're not sure what "industry" you'd like, you can still have a gut feeling and look into it. I made the most out of career center and applied/interviewed at every firm I could just so I could do proper analysis.

Get your CPA as soon as you qualifiy to sit. It's truly a pain to deal with when you move into a stead job.
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I agree with everything you said. Big-4 isn't for everyone by any means. I'm pursuing advisory positions. Job satisfaction in Big-4 also depends heavily on your clients and the team you work on. Big-4 really only pays off when you get to the manager level (some would argue partner). The reason people start in Big-4 is because 3+ years at one of the top firms will look good on a resume, but whether it will ultimately translate into helping you land your dream job is heavily dependent on the kinds of work you do. As already mentioned, working on big clients is cool because the names are recognizable, but you are limited to how much of the balance sheet you will actually ever see (almost always first years end up auditing "cash"). 
Also, advice for those about to go through the recruiting process, do NOT dismiss the smaller firms by any means. You will usually learn more by being in a smaller firm and seeing more of what goes on.
 
Originally Posted by kilojules64

My cousin has a BACHELOR'S degree in finance from NYU Stern and is clearing 250 a year. I was in shock when he started bringing in that kind of money at 23 years old without even having an MBA
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He must be an I-Banker or something closely related. No other field could bring that much dough in at his age. For every guy like him, there's 50 people working a Fortune 500 companies as analysts making 50K. But congrats to him.

On a tangent, why do you even know how much he makes? The only people who know how much I make are the people who pay my salary.
 
intern as early as you can for a relatively known company, put in the work, and be ready to compete through your mid 20s at a minimum
 
lazyj...about 35% when i switched from big 4 to corporate suit. next move is to a start up or my own business of some sort. but for now, it works. i need to enjoy the 35-40 hours a week lifestyle for a bit
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Originally Posted by DeadsetAce

lazyj...about 35% when i switched from big 4 to corporate suit. next move is to a start up or my own business of some sort. but for now, it works. i need to enjoy the 35-40 hours a week lifestyle for a bit
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I know, you were living at home and all that right? Initially at least, if I recall.

My good friend just left a firm and went to Sales Force...comparable salary and fewer hours.  Him and I have discussed that at some point in our life we'll create our own business.  That's the ultimate goal for me, be my own boss...even if I were on the Partner track.
 
Originally Posted by LazyJ10

Originally Posted by DeadsetAce

lazyj...about 35% when i switched from big 4 to corporate suit. next move is to a start up or my own business of some sort. but for now, it works. i need to enjoy the 35-40 hours a week lifestyle for a bit
laugh.gif
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I know, you were living at home and all that right? Initially at least, if I recall.

My good friend just left a firm and went to Sales Force...comparable salary and fewer hours.  Him and I have discussed that at some point in our life we'll create our own business.  That's the ultimate goal for me, be my own boss...even if I were on the Partner track.
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yeah i actually JUST got my own place. moved in this past weekend.

and yeah...own business is the way to go. just need to pick the right idea, and im going for it.
 
Is it out of the ordinary to take a bachelors in finance and go back to school for a masters in accounting?
 
No, because at a lot of schools finance and accounting had a lot of overlap. In order to qualify to sit for the CPA exam, people went/go back to school to have enough accounting credits.
 
i figure if I'm going to go back, I might as well get a masters, instead of just grabbing a few more hours to be able to sit for the cpa.

Is sitting for the CPA enough?  or would getting a masters be recommended? 
 
Some firms will offer you a beginning bonus or a little higher of salary if you have a MBA.

Originally Posted by Fadeaway88

ifigure if I'm going to go back, I might as well get a masters, insteadof just grabbing a few more hours to be able to sit for the cpa.

Is sitting for the CPA enough?  or would getting a masters be recommended? 
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What do you want to do? Do you want to start in public? Most people who begin a career in Public don't have anything but a BA.
 
Was thinking about a degree in accounting/finance, but ultimately decided against it because I had no passion for it, even though it comes easy to me. Currently studying Management, but I plan to start my own business by the time I'm 25.
 
CampbellSoup wrote:
I saw the Engineering thread and was curious who on here is or was an Accounting or Finance major?
If so, what would you recommend to those of us still in our undergraduate programs? What are the pros and cons of your career? To those in undergrad still, what classes are you currently taking and are there any sites you visit that you wouldn't mind sharing?

Thanks.

I was an accounting major because it came to me fairly easily. I tutored accounting for my university for about 3 years and tutored privately for about 2. I was a double major of Corporate Financial Management and Accounting but then made the tough decision to leave accounting and pick up Financial Services/Risk Management. It was tough to leave Accounting but I really had a love for Risk. I graduated with a double major of Corporate Financial Management and Financial Services/Risk Management in 2009. I enjoy my career, I'm an analyst at a financial institution and it really has a lot of perks. I've learned a tremendous amount and the accounting background helps a lot in mitigating risk of a borrower during the lending process and annual reviews. It all depends on what you want to do. I enjoy banking and finance in general so I'm impartial about what it is that I want to do. I enjoy learning more than anything else. I want to be the President/CEO of a large bank.

  
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Originally Posted by LazyJ10

Some firms will offer you a beginning bonus or a little higher of salary if you have a MBA.

Originally Posted by Fadeaway88

ifigure if I'm going to go back, I might as well get a masters, insteadof just grabbing a few more hours to be able to sit for the cpa.

Is sitting for the CPA enough?  or would getting a masters be recommended? 
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What do you want to do? Do you want to start in public? Most people who begin a career in Public don't have anything but a BA.
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I was thinking of a masters in accounting, not an MBA. 

I have no idea what I would want to do, my experience with accounting was very limited, only a few classes here and there. 

I have to contact an admissions office to see what the deal would be with everything, it was just something that crossed my mind. 
 
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DwyaneWadeOG wrote:
apply to all the Big 4 leadership conferences your junior year.
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Not completely sure haha. All my friends are accounting majors a few of them went to the Deloitte National Leadership conference in Arizona this summer which is why I know about these.

I'd check with your career services office in the business school or just call the recruiters at all the Big 4s to find out the timeline for application.

There are local leadership conferences as well as national ones. Does your school have an accounting "fraternity"or student club? Get involved with that too.
 
Whoops, ya, meant Master's. If you enter Public Accounting with a Master's in Accounting or Taxation.
 
Syracuse University alum w/ Accounting degree checking in. Anyone in Baruch's Masters in Accounting/Taxation program here?
 
what do you guys think of advisory positions within the big 4? are they well sought out and what can they lead to?
 
Has anyone here been/known a financial advisor?  I got an offer to do this and was wondering how they enjoyed it because it seems very stressful, yet at the same time rewarding due to their being no ceiling on income eventually.  Of course I would have to get my license for the Series 7/66 and undergo training.  I am not an accounting or finance major by the way.
 
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