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If you want a real Big 4 internship experience, go for the spring semester. I worked 70+ hour weeks, and I think it was 32 days straight.
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Aug 18, 2013 18:14
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Holy poo poo the overtime $$$ But really though, do not join financial services, their busy season never ends
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Aug 18, 2013 18:23
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chupacabraTERROR posted:But really though, do not join financial services, their busy season never ends This - my brother was in auditing at PwC doing financial services (primarily PE and hedge funds) and he had to travel for 3-4 weeks at a time (usually staying on site in Stamford or Greenwich), locked away in a client's office all day and night, working around 100 hours/week at the worst of times.
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Aug 18, 2013 20:21
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My internship was last fall semester and I made bank. Worked at max 60 hour weeks and got overtime pretty much every day. Worked through the Risk Assurance busy season so I feel like I actually got some solid experience, even if my feedback was less harsh than the associates working there full time. My girlfriend and other friends in auditing worked during the audit busy season this spring and got worked to the bone. Summer interns do get super pampered, but I wouldn't be hesitant to hire an associate from Big 4 just because they didn't stick around to make senior. Busy season isn't for everyone.
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Aug 18, 2013 21:08
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No you don't understand, man, you gotta pay your dues Back in my day we had to walk to recruiting events uphill both ways in the snow!!
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Aug 18, 2013 21:55
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fuseshock posted:Back when I had interviews, I didn't get a callback until a week or so after. I knew some people that got an immediate callback with an offer after the interview too, but in some cases it was because people had other offers outstanding. That is good advice. You never know what is going on vis-a-vis a particular office's needs, how many offers are outstanding and so forth. Although I am on the recruiter's side of the table I will say that you should always keep your options open.
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Aug 18, 2013 22:49
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I passed the last part of the CPA exam a few months back and am planning on taking the CMA in January/February. Has anyone else here taken the CMA exam?
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Aug 20, 2013 02:21
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js86 posted:I passed the last part of the CPA exam a few months back and am planning on taking the CMA in January/February. Has anyone else here taken the CMA exam? No but I would like to. Are you using Gleim, Wiley, Hock, or another?
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Aug 20, 2013 19:25
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Has anyone worked at regional CPA firms in public accounting doing audit for many years and then went to work for the Big 4 in public accounting? If so, can you please share your experience transitioning? I'm contemplating doing that myself, and that's the situation I am in now. I'm used to working like 2000-2000 billable hours a year, around 2500-2800 a year (some ex big-4 people at my firm say my hours are comparable).
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Aug 21, 2013 00:33
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Mandalay posted:No but I would like to. Are you using Gleim, Wiley, Hock, or another? Leaning towards Gleim. I liked what they had on the CPA and I don't see a reason to change. Their product for the CMA looks good too.
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Aug 22, 2013 00:46
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How silly is it to negotiate salary for a first year associate offer? Is it so silly that it just might work or is it just stupid?
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Aug 22, 2013 01:00
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js86 posted:Leaning towards Gleim. I liked what they had on the CPA and I don't see a reason to change. Their product for the CMA looks good too. Are you getting the whole system? Best price I've found so far is $503 through a local IMA chapter. (IMA Inland Empire)
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Aug 22, 2013 01:28
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Mandalay posted:Are you getting the whole system? Best price I've found so far is $503 through a local IMA chapter. (IMA Inland Empire) I think so. I'd like to have as much available as possible and pass each exam the first time I take it.
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Aug 22, 2013 02:38
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Mush Mushi posted:How silly is it to negotiate salary for a first year associate offer? Is it so silly that it just might work or is it just stupid? I'm not even entirely sure if this is a serious question, but if it is, I think it is a dumb idea. There are plenty of candidates who will accept the offer at the offered salary, and plenty more who didn't get an offer but would accept it in a heartbeat. Furthermore, it's pretty standard that nearly everyone in a particular line of service in a specific market will receive the same starting salary. In my experience it is pretty much unheard of for experienced employees to negotiate salary, nevermind someone who hasn't done more than a couple of months as an intern, if even.
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Aug 22, 2013 02:48
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I received my offer well in advance - like a year. The people who started after me received a signing bonus. They went back and gave me one because they wanted everyone to have the same starting salary.
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Aug 22, 2013 02:55
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Mush Mushi posted:How silly is it to negotiate salary for a first year associate offer? Is it so silly that it just might work or is it just stupid? Have you even experienced a busy season yet? If I was on the other side of the table I would laugh in the face of anyone asking for more money that hasn't even shown they can perform through one.
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Aug 22, 2013 03:11
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js86 posted:I think so. I'd like to have as much available as possible and pass each exam the first time I take it. The firm I'm starting with has the same salary and bonus for everyone in the start class, and will raise the salary based on market data and reports (read: if other comparable firms are paying more).
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Aug 22, 2013 03:29
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abagofcheetos posted:Have you even experienced a busy season yet? If I was on the other side of the table I would laugh in the face of anyone asking for more money that hasn't even shown they can perform through one. Not really, no. I am happy with the offer, so I wasn't planning on asking, but someone I know at another firm suggested that I ask for more. I found that strange, since everything else I had heard up to that point was that offers are more or less the same and not really negotiable.
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Aug 22, 2013 05:05
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Going to jump into this thread to tout my company as a pretty good job destination, as well as a pretty good product you should use! I work for Xero, which some of you may or may not have heard about yet. But we're cloud based accounting software for both small/medium sized businesses, as well as accounting practise management software. We now stand at over 193,000 paying organisations using Xero for accounting. For those looking for work, we're opening up another customer care team in Denver, CO. Where you'll handle various customer queries etc. It's not a call center, all our queries come in via email, though you can make outbound calls if you think it'll be easier in that particular instance. It's a great job for experienced and inexperienced alike. It's an especially good prospect for graduates, as you can work for us for a year and come out saying "I'm an expert in Xero!" Right now in Denver we're looking for Payroll, Billing, and Bankfeeds support people. And also a technical writer for our help pages. You can read through what we have available here: http://www.xero.com/about/careers Let me know if you decide to apply (PM or email my username at hotmail) as there's a pretty generous referral bonus. I think this thread is mostly US centric, but we also hire in Milton Keynes, UK; Sydney and Melbourne, AUS; and Wellington and Auckland, NZ. For those of you already working as accountants, you should take a good look at becoming a Xero partner. We even have a new cutesy video on our partner page: http://www.xero.com/partners The benefits? We're entirely a cloud based operation. No desktop software to install, no 'customer files' to pass around and bump into versioning issues. You just have your customer invite you into their organisation on Xero, and you have all you need to access their data and make changes/reports/whatever. Oh, also free practise management software once you reach Silver (25 orgs+). Quickbooks has been enjoying it's US monopoly for far too long. We've already started to upturn the incumbent MYOB in our home turf of New Zealand/Australia, and we're moving on to hit the USA and UK next. We've been around for about 7 years and people can't stop throwing awards and accolades at us. Check out our partner page, and get in touch!
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Aug 22, 2013 07:14
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js86 posted:I think so. I'd like to have as much available as possible and pass each exam the first time I take it. Have you met any CPA + CMA folks? I get the impression that the CPA is still by far the best career-maker, while the CMA is mostly done by people who are in some industry. And a lot of guys from India.
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Aug 22, 2013 18:48
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Mandalay posted:Have you met any CPA + CMA folks? I get the impression that the CPA is still by far the best career-maker, while the CMA is mostly done by people who are in some industry. And a lot of guys from India. From the people I've talked to the CPA/MBA/CMA mean less and less later in your career, but it's good to have a few initials after your name. Most of it is situational to what you want to do career wise. Obviously if you want to make partner at a firm you will definitely need the CPA, but you can also definitely be very successful without it. Granted I'm on the non-CPA track. Then again I only work 40-45 hours a week and don't make much less than guys I know working 60+ hour weeks. (About 10 percent) But maybe I'm a unique situation.
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Aug 22, 2013 19:46
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abagofcheetos posted:If you want a real Big 4 internship experience, go for the spring semester. I worked 70+ hour weeks, and I think it was 32 days straight. And you'll make bank in overtime. got dat wmd posted:I honestly can't believe all the big four pampering. I had an intern this summer who told me she got an offer last summer from PwC I think for being there something like 8 weeks total working tax but spending half the time playing "team building" games and retarded Disney stuff. I don't know how you can be properly evaluated during all that. Summer Internships are MUCH more about judging personality and how well you fit in in a team workplace environment than it is about seeing if you have any accounting skills or know anything. Our summer interns have no work to do half the time anyway since that's probably our slowest time of the year. They do the "fun" stuff so they accept their offers but most of these kids know what they are getting themselves into working for a big 4 and if the team they work with over the summer aren't complete assholes they always have those conversations with the intern. mcmagic fucked around with this message at 21:46 on Aug 22, 2013 |
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Aug 22, 2013 21:40
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Mandalay posted:Have you met any CPA + CMA folks? I get the impression that the CPA is still by far the best career-maker, while the CMA is mostly done by people who are in some industry. And a lot of guys from India. I'm in Industry, so I'm not worried about the effect it might have on me. I do cost accounting, so I think it would be really useful to me since the only cost accounting on the CPA exam is a decent chunk of BEC. With the right career path, it should be pretty easy to sell to potential employers.
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Aug 22, 2013 23:54
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I'm 26 years old and I have been wrestling with the idea of going back to school for a masters in accounting (my bachelors degree was in business). I was very strong in the accounting classes I took and I feel I made a big mistake not majoring in it. Does anyone have a similar experience with going back to school for accounting? Would going to the Big 4 be out of the question at this point since I wouldn't be able to intern most likely? Am I already screwed?
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Aug 26, 2013 17:38
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Tomahawk posted:Does anyone have a similar experience with going back to school for accounting? Would going to the Big 4 be out of the question at this point since I wouldn't be able to intern most likely? Am I already screwed? Getting into the Big 4 would largely be dependent on how heavily they recruit from the school you are trying to attend (there is no chance of getting in via just applying on the website). Also in my first year training, there were older people starting as first years, and as long as you don't mind that then you're not screwed.
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Aug 26, 2013 17:44
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fuseshock posted:Getting into the Big 4 would largely be dependent on how heavily they recruit from the school you are trying to attend (there is no chance of getting in via just applying on the website). Also in my first year training, there were older people starting as first years, and as long as you don't mind that then you're not screwed. The school I am looking at has a heavy recruitment presence from the Big 4. But I guess my concern would be whether they are recruiting undergrads vs graduate students.
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Aug 26, 2013 17:54
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They're not recruting undergrads unless your state doesn't have very strict education requirements.
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Aug 26, 2013 18:01
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Thanks for all the advice earlier, everyone. I thought a lot about the interviewing stuff that people in the thread talked about, took a different approach this time around at my latest interview. Basically, rather than being reactive (trying to answer each question the interviewer gives) I was proactive (asking a lot of questions, keeping control over the conversation.) Had enough sense to recognize when the interview wasn't going well, and regained control each time. So, now I start work in about a week as an accountant -- basically the accountant -- for a wealthy boarding school in the Midwest. The pay isn't really high, but the cost of living in the area isn't either, and the workload, while varied and challenging, isn't murderously heavy (and I'll have my own office). I think that even if I end up hating the place after a year or so, the work experience will be invaluable to getting just about any other accounting job. 
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Aug 26, 2013 19:45
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Tomahawk posted:The school I am looking at has a heavy recruitment presence from the Big 4. But I guess my concern would be whether they are recruiting undergrads vs graduate students. They don't care what you have, both are going to start as the same first year making the same money. If your school has a heavy recruiting presence as you say, they are probably VERY familiar with the masters program in question (I assume you are talking about a MAcc type program, where it basically gets you the 150 for the CPA exam?) and certainly will recruit people that are going to graduate from it. Actually, getting that masters is probably the only way you will be able to get a big 4 position if you don't have an internship. And depending on how the timing works out, you might still be able to get yourself an internship with them. I know someone who is starting a MAcc program today that interned big 4 this spring and has an offer. The key is that you do the interviewing/etc when they do their regular interviewing in the fall, and that you have some classes already completed so that they can see academic achievement (and make sure your resume says you have been accepted for the MAcc program and will have 150+ credits). You will probably have to take some general accounting courses before you can do the MAcc, so you can use those (hopefully great) grades to parlay into an internship, if the timing works out. Harry posted:They're not recruting undergrads unless your state doesn't have very strict education requirements. 
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Aug 26, 2013 21:41
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Really? I was under the impression they wouldn't look at you unless you could sit for the CPA. Do most states not require 150 hours?
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Aug 26, 2013 21:55
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Well, okay, undergrads with 150+ credits. You are correct about the 150 part and that big 4 wants nothing to do with you if you don't have 150. A lot of students now are taking summer classes, etc to get their 150, since the extra credits can be whatever the gently caress. Considering the cost of most MAcc programs, even just taking another full undergrad year makes more financial sense.
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Aug 26, 2013 22:05
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abagofcheetos posted:They don't care what you have, both are going to start as the same first year making the same money. Thank you for the info. Yes I am looking at a MACC program at Baruch which from my understanding is among the best accounting schools for Big 4 recruiting in the NYC area. It would seem that maybe I haven't missed the boat on a career change. Tomahawk fucked around with this message at 22:52 on Aug 26, 2013 |
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Aug 26, 2013 22:50
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I can't find answers to a couple of questions regarding the 150 credit requirement to take the CPA exam: Is there a minimum letter grade for a class to count? I got a D in a biology class a long time ago. If it can get me 4 credits closer to the 150 mark, I'll be happy. Also, for no good reason, I passed Intro Chemistry at two different colleges a few years apart. Would both count toward my total or just one? JohnnyPalace fucked around with this message at 03:17 on Aug 27, 2013 |
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Aug 27, 2013 03:07
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JohnnyPalace posted:I can't find answers to a couple of questions regarding the 150 credit requirement to take the CPA exam: Those are pretty specific questions and I think you'll need to contact whatever state you plan on getting licensed in to be sure since rules vary between states. I've always assumed it worked under the "C's get degrees" standard, though.
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Aug 27, 2013 03:33
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Can anyone tell me about Financial Services vs. Audit at Big 4? I'm looking at PwC Transaction Services or Forensic Services in particular, but general info would also be very welcome. I think that I've got a decent handle on the work itself, but everything I've found on how salary and hours compare to Audit is vague at best.
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Aug 27, 2013 16:27
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Tomahawk posted:I'm 26 years old and I have been wrestling with the idea of going back to school for a masters in accounting (my bachelors degree was in business). I was very strong in the accounting classes I took and I feel I made a big mistake not majoring in it. I did the exact thing you want to. I was just a few years younger but it's very possible. And you can definitely intern. We had an intern this summer who was in his late 40s and had gone back to school. Harry posted:Really? I was under the impression they wouldn't look at you unless you could sit for the CPA. Do most states not require 150 hours? You're correct. They are no longer hiring people who don't have the 150.
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Aug 27, 2013 20:42
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mcmagic posted:You're correct. They are no longer hiring people who don't have the 150. I realized my state has the rule where you just need 120 credits to sit and take the exam but in order to be granted your licence you need 150 credits. Is that still ok or should I be aiming at fulfilling the rest of those credits instead?
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Aug 28, 2013 02:42
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I will be graduating my bachelors this semester and I have already started taking my grad courses. Unfortunately the Big 4 does not recruit at my university. Does this mean there is no hope for me to get in to those firms? I currently work for a small tax firm under a CPA (<10 employees), would this experience coupled with a CPA make me a candidate a year or so down the road? I am also an officer of my universities Beta Aplha Psi chapter if that actually matter to the Big 4. Should I try my hand at larger regional firms or go in to industry? I really enjoy managerial accounting but all I hear is that its better to do a couple years in public before moving on to private. Would I be screwing myself over by getting a job at a large corporate HQ? I hear that the growth in salary and opportunities for advance is not very good without that Big 4 experience. I just get the feeling that since my school is not targeted for recruiting that my career opportunities are severely hampered.
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Aug 28, 2013 04:01
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Diplomat posted:I will be graduating my bachelors this semester and I have already started taking my grad courses. Unfortunately the Big 4 does not recruit at my university. Does this mean there is no hope for me to get in to those firms? I currently work for a small tax firm under a CPA (<10 employees), would this experience coupled with a CPA make me a candidate a year or so down the road? I am also an officer of my universities Beta Aplha Psi chapter if that actually matter to the Big 4. I think it will be tougher to get a Big 4 gig, but it is definitely not hopeless. Only two of the four recruited regularly at my campus, but I accepted an internship (which led to a full-time offer) with one of the other two that did not have a presence at my school. I tracked down the contact info for a campus recruiter and drafted a thorough, but brief cover letter style email that outlined my plans to get the masters degree, pass the CPA exam before starting work, etc. "I have not had the opportunity to meet you in person, but I wanted to reach out regarding blah blah blah." You get the idea. An email is easy to ignore/delete, so if I were to do something similar again I might try to reach someone directly by phone. Back when I was still hunting, I actually called the main office line for a firm and asked to speak with someone from campus recruiting and connected that way. I'm not saying this will work for every recruiter out there, but it will work in some instances. If you can communicate why you're qualified and contact them before or during a recruiting cycle, I don't see why anyone would straight up tell you no. If you have a good relationship with any of your professors, you can also ask them if they can connect you with anyone. From my experience at a school that didn't have the best campus recruiting, being an officer + having a high gpa did matter, at least for getting that first interview. I think that industry jobs can be great depending on the company and your role. I wish I had considered some sort of F500 finance development rotation when I was still going through the recruiting process, but it is hard to consider anything but public accounting as a student, when that is all the school cares to promote. I'd say you should consider every firm that recruits from your school, no matter the size. See what kind of work they do. Many smaller firms have some kind of interesting niche. That type of experience can be leveraged into a job at a larger firm if they have a practice group that does the same work. Also try to get in touch with Big 4. It might not pan out, but you might be surprised too. I wish I had taken a closer look at industry. Some of those F500 financial planning/analysis or corp finance jobs can be pretty cool and set you up quite nicely for an MBA if that interests you.
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Aug 28, 2013 05:46
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Muffin Top posted:I realized my state has the rule where you just need 120 credits to sit and take the exam but in order to be granted your licence you need 150 credits. Is that still ok or should I be aiming at fulfilling the rest of those credits instead? Yeah, I would do everything you can to get the 150 even in 120 states. My state is a 150 state but from what I've heard they are all going in that direction.
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Aug 28, 2013 14:06
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