35 years old and returning back to accounting after 5 years

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  • #193783
    Rb899
    Member

    Hello guys,

    I am in the middle of soul searching to determine if I should take the CPA exam or not.

    Here is my story:

    I got my undergrad accounting degree back in 2007, at age 27 (started undergrad at age 23). I was able to find a job in Fund accounting, but after a year and a half, I found and left for a higher paying Fund accounting job.

    After almost two years at the new job, they downsized and I got laid off, at age 30. Unfortunately this was during mid 2010, during the worst job market in US history, which also meant there were a ton of newly experienced unemployed and the market was extremely competitive. And after sending out hundreds of resumes and contacting many recruiters, I was not able to land a job.

    A year had passed since I started job hunting and still no accounting job interviews. So now I began to look for bookkeeping and temp jobs but still no luck. I did get interviews for these positions but either I was under qualified for the available temp positions or overqualified for bookkeeping.

    Out of desperation for income, I joined my family’s dry-cleaning business as the store manager and have been there since. And when the job market returned I was already out of accounting for 2-3 years..

    So here I am today, at age 35, managing a drycleaners for the past 5 years, and regretting every day I did not try harder to find a job back in 2010.

    Now I am wondering if I pass the CPA exam, would I be marketable enough for industry or public to hire me as staff accountant even though I have not held an accounting or office job in the past 5-6 years?

    Please share your thoughts on this. Any advice or comment is much appreciated.

    Thank you

Viewing 15 replies - 1 through 15 (of 30 total)
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  • #664800
    Anonymous
    Inactive

    In my opinion 35 is not old at all.

    You need to get back into some sort of accounting position, anything.

    And yes go for your CPA.

    And forget about the dry-cleaners since you are not happy from what you say.

    #664801
    y_u_no_pass
    Participant

    Do you do any bookkeeping at the dry cleaners? I think you could pass that off as somewhat related experience, and managerial experience. I say start the exams and start looking for work. Good Luck

    Florida CPA!
    Took final exam 2/25/15.
    Sent in Application 3/12/15.
    Issued License 3/20/15.
    Used CPA Excel solely for all exams.

    #664802
    Son
    Participant

    Rb899 – it's never too late to go back, BUT: passing the exam is not a magical key that will open all the doors for you. If you search the forum you'll see a ton of threads like “cpa not a golden ticket for me” where people complain that after all the hard work they are still unable to land their dream job. Not to discourage you, but I would entertain the idea of starting the job search and the study process simultaneously.

    Some people might disagree, but I think CPA makes sense only for young professionals going into public, OR for a mid-level professionals in industry who want to grow to a senior management position. Since you've been out of the game for a while having a CPA might throw people off and make them think you're overqualified for an entry-level or minimal-experience position.

    AUD - passed
    REG - passed
    BEC - passed
    FAR - passed

    #664803
    Missy
    Participant

    First find an accounting job. You won't be very much more likely to find one if you've passed the exams but have no experience and no license.

    Chances are you're going to need the accounting experience first. When you find a job that will qualify as experience to be licensed in your state THEN consider the CPA exam. Also you may have to go back to school if you don't have 150 credits.

    Most people don't want to hear this but having passed the exams doesn't improve your marketability much unless you are going into a very entry level public accounting firm. In industry nobody cares. In industry they care when you are licensed but not before then.

    Besides if youve been out of accounting for several years you may find you don't even LIKE it now. Make sure its a career path you want to follow before beginning the exams.

    I was 42 when I got my license and it was WELL worth it. I had over 20 years GL experience and a Masters degree in accounting so it made sense.

    Old timer,  A71'er since 2010.

    Finance manager/HR manager

     

     

    Licensed Massachusetts Non Reporting CPA since 2012
    Finance/Admin/HR Manager

    #664804
    Rb899
    Member

    @ y_u_no_pass

    I do very light bookkeeping using Quickbooks. AP, AR, and payroll for 4 employees.

    #664805
    Anonymous
    Inactive

    I am 35 years old as well. You have your whole life ahead of you. Go for it, don't let anything stop you as long as this is what you want. All the best.

    Cheers

    #664806
    manny1010
    Participant

    Go back for it! I am 31. Switched jobs recently to an accounting firm. I am currently studying for the exam because its a demand. People will have different views. Also, location may play a factor. In Texas, where I'm at, CPA license is a huge demand.

    BUT, you just have to put in the hours to study and get that bad baby (license).

    AUD
    REG
    FAR
    BEC

    #664807
    Rb899
    Member

    @ Test71

    @ mla11692

    Thanks for the reply everyone!

    I don't need the 150 credit to take the exam as I've registered before the 150 credit rule came into effect.

    As for the reason why I am looking to take the exam right now is only because I am unable to land an accounting job of ANY type. I'm hoping the employers would take me seriously if they see that I went as far as to take and pass the exam. It would also show I still have a good general understanding of accounting.

    I've had phone interviews and they all mutually gave me the same feedback: “You been working in a unrelated line of work for the past 5 years.” – even though I listed the bookkeeping work I've done at the cleaners.. Apparently it's not good enough.

    So if the passing the CPA exam is not going to help and possibly work against me, and I am unable to land an accounting job for the above reason, then what do you recommend I do?

    #664808
    On2Sum
    Member

    Would it give you comfort that this 51 year old just passed the last section of this dreaded exam?

    You are only limited by you excuses and fears.

    I graduated in 1994 with an accounting degree.

    FAR - 79
    REG - 76
    AUD - 94
    BEC - 77

    DONE! DONE!! DONE!!!

    "Success is not final, failure is not fatal; it is the courage to continue that counts"
    -Winston Churchill

    #664809
    Missy
    Participant

    Here's the problem, with job searching (and I consider myself practically an expert on looking for jobs)

    At your age, having passed the exams may get you a foot in the door in public. Do you want to work in public? Then I'd say go for it. Plenty of people jump in at your age or older, and if they think you're only lacking experience to be licensed they'd be impressed with that achievement.

    In industry its an entirely different ballgame. I can say this as I have sent out literally over 500 resumes in the last 3 years and had over 60 interviews (read into that if you are more agressive with your job search. you'll find one, frankly I have to believe you haven't stacked the odds in your favor nearly enough and thats where your problem is.)

    Industry here's the deal-entry level jobs aren't going to give much credit to having passed the exams simply because its not required. Nobody needs an A/P Clerk who passed the exams and is going to look to move out of that position in a year or 2. In this situation, its a drawback because they want someone who will be satisfied with entry level longer than a year or 2.

    On the other hand the jobs where the CPA is valued (senior accountant, some staff accountant, and higher) the lack of experience will be a drawback. Besides, if there are 2 candidates and one has experience doing A/P with a similar sized company in a similar industry the employer will choose him or her over somene who has little relevant experinece. It happened to me often “Oh but you never worked for a 100m co? bye.” Ive got TONS of experience and am a CPA but my experience is in defense manufacturing for a small co and other industries told me they had applicants with more similar experinece.

    I'm not at all saying it CAN'T be done, in fact I agree it can. But too many people think having passed the exam or even becoming licensed makes employers positively drool over your resume. Its about having the total package, the experience, the personality, the credentials. One of those three will not necessarily compensate for a shortfall elsewhere.

    Old timer,  A71'er since 2010.

    Finance manager/HR manager

     

     

    Licensed Massachusetts Non Reporting CPA since 2012
    Finance/Admin/HR Manager

    #664810
    Lion_of_the_Rock
    Participant

    @Rb

    Just want to wish you luck. I've been out of work for 5 years (stayed home with my kid while my wife, CPA kept working) and my prior work experience is not accounting related. I'm trying to jump into the accounting game with the tests passed and that's it and frankly I'm scared about not being able to land a job (I'm going to try to do it on my own without help from the spouse).

    All I can say is don't give up. Just like the tests, you can achieve your goal with some dedication.

    My guess is your best bet will be with a public firm, not necessarily Big 4, but something like McGladrey, etc.

    BEC - 78
    AUD - 75
    REG - 74, 79
    FAR - 75

    You have to buy a ticket to win the raffle.

    #664811
    Rb899
    Member

    @ mla11692

    “At your age, having passed the exams may get you a foot in the door in public. Do you want to work in public? Then I'd say go for it. Plenty of people jump in at your age or older, and if they think you're only lacking experience to be licensed they'd be impressed with that achievement.”

    – I would love to work for public. In fact, when I graduated from undegrad, my number one choice was to work at a CPA firm but could not land a job there. So do you think even with the 5-6 years of unrelated job experience can be overlooked by the CPA firm IF I can show them proof of passing the exam?

    “In industry its an entirely different ballgame. I can say this as I have sent out literally over 500 resumes in the last 3 years and had over 60 interviews (read into that if you are more agressive with your job search. you'll find one, frankly I have to believe you haven't stacked the odds in your favor nearly enough and thats where your problem is.)”

    – Can you please suggest how I can stack the odds in my favor given my current circumstance?

    I showed my resume to headhunters and temp agents recently and again, they all say the same thing; five years of unrelated employment is preventing my employment. I even took a temp agencies accounting assessment test and scored 89 without knowing I would be tested.. so these agencies know I understand accounting but again, I run into the same problem.

    “Industry here's the deal-entry level jobs aren't going to give much credit to having passed the exams simply because its not required. Nobody needs an A/P Clerk who passed the exams and is going to look to move out of that position in a year or 2. In this situation, its a drawback because they want someone who will be satisfied with entry level longer than a year or 2.”

    – I've applied to entry-level jobs since 2010 that I believed I could work with and have not had any luck. As years passed, it became more difficult to even get a phone interview. So the thought of passing the exam came to light hoping this would improve my chances.. but from what you are saying it may not.

    “On the other hand the jobs where the CPA is valued (senior accountant, some staff accountant, and higher) the lack of experience will be a drawback. Besides, if there are 2 candidates and one has experience doing A/P with a similar sized company in a similar industry the employer will choose him or her over somene who has little relevant experinece. It happened to me often “Oh but you never worked for a 100m co? bye.” Ive got TONS of experience and am a CPA but my experience is in defense manufacturing for a small co and other industries told me they had applicants with more similar experinece.

    I'm not at all saying it CAN'T be done, in fact I agree it can. But too many people think having passed the exam or even becoming licensed makes employers positively drool over your resume. Its about having the total package, the experience, the personality, the credentials. One of those three will not necessarily compensate for a shortfall elsewhere.”

    – So what do I have left to do? At this point, its either throw in the towel or try a new approach. But considering the past 5 years I've been unsuccessful and the unrelated employment history is extending, I don't know what else to do to improve my situation other than to pass the exam. But from what you are saying, it may prevent me from landing an entry-level position.. but I've already have that problem without passing the exam.

    #664812
    Rb899
    Member

    @ Lion_of_the_Rock

    My only problem right now is the 5 years on unrelated job experience.. so I guess its very similar to your situation.

    So have you applied to public or industry jobs yet? Have you received any feedback regarding your situation + having passed the CPA exam?

    #664813
    Lion_of_the_Rock
    Participant

    I've only sent out one resume so far and my goal for that one is just to see if they'll reply at all. I think my biggest hurdle will be making an interview list, if I can just get an interview I hope I'll be able to sell myself over new grads. The lack of accounting work experience definitely hurts the resume.

    If I were you I would really explore my contacts, see if you know somebody who can help you. Maybe take a job at a firm that is admin, or something similar, and see if that foot in the door leads to something else. It might be a more unconventional route that takes a little more time than you'd like but who knows, it may lead to something better than you think.

    BEC - 78
    AUD - 75
    REG - 74, 79
    FAR - 75

    You have to buy a ticket to win the raffle.

    #664814
    Missy
    Participant

    When I was looking I got out 8 resumes per day EVERY day. I scoured craigslist, linkedin, monster, indeed, careerbuilder, and local postings.I also applied to places I'd like to work but had no jobs listed.

    As for the headhunters, dismiss their input. They're snake oil salesmen with sales backgrounds not accounting backgrounds. They're not completely useless but most talk out their a$5. Had one tell me he couldnt find me a job for what I was currently making at the time. He was an idiot. If you can't find someone with 20+ years experience, a masters degree and a CPA license a job starting at 70k you should be EMBARRASSED to call yourself a recruiter. Which by the way is why most recruiters don't last more than 2 years in that position. They're McJobs for all but an exceptional few.

    If you're not getting calls, perhaps its time to have your resume carefully reviewed. Even with your experience you want to highlight skills that translate well to accounting, resolving customer issues, preparing financials for tax accountant, etc. Leave off things that have no value in accounting (if you know which chemical removes red wine stains, its irrelevant, If you've satisfactorily negotiated a contract with a commercial customer or resolved a payment dispute, gotten the dry cleaners on quickbiooks or even created a spreadsheet for inventory that has value in an accounting job) Your experience is likely more relevent than you think. Apply to jubs you are clearly underqualified for (you never know, maybe someone internally gets promoted and youre asked to interview for their job.)

    If you're not getting calls the problem is your resume, if you're getting interviews but not offers the problem is your interview skills. Both can likely be improved.

    But seriously between Jan 14 and Mar 14 I got out THREE HUNDRED resumes, out of those resumes had 46 interviews, and three job offers. Its absolutely not enough to get out 2-3 resumes a week or a month. Also set up job alerts on indeed, beyond and a few other sites that I can't recall offhand.

    Old timer,  A71'er since 2010.

    Finance manager/HR manager

     

     

    Licensed Massachusetts Non Reporting CPA since 2012
    Finance/Admin/HR Manager

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