[Anonymous]

Hi – I am a 30 year old licensed CPA making $45K in the Chicagoland area that is interested in getting into public because of the opportunities associated with it.

I currently have a little over 2 years experience as a Staff Accountant in industry for a company that pulls in $1 billion in revenue a year and 3 years in Accounts Payable / Accounts Receivable. I switched my major in college (from education to accounting) and as a result graduated from a University that pretty much has no reputation for accounting (therefore no recruiting). I did pass the CPA while working full-time on the first try and I have always been a great student.

Based on what i’ve read – my options would be the following;

A. Get a MAcc from DePaul University. The Big 4 all recruit here. However, it would cost me approximately $50K and obviously there are no guarantees that I get recruited from the Big 4 or second-tier.

B. Network, Network, Network using Linkedin and other resources to try to get into a small firm (seems like my chances for a second-tier or Big 4 is slim to none this way).

C. Continue on the Corporate path and try to move up.

Thoughts?

[Anonymous]

Where do you want to be in 10 years? What are your goals in life? What are your priorities while you get there?

[Anonymous]

Where do you want to be in 10 years? What are your goals in life? What are your priorities while you get there?

I don't have any kids and don't really have a girlfriend at the moment. I have no plans on having kids anytime soon – so the priority is mostly myself and finding something that makes me happy.

I realize I am 30 and wouldn't start grad school until I am 31. I believe this is a good time to make that transition and try to better myself because I could be working until I am 60.

I have struggled to find jobs that pay more and I have been told it's because of my lack of public experience. I know I am smart guy and could get a high GPA in a MAcc program (while working full-time). I would focus on the the on-campus recruiting, networking events, and other crap while I am there too.

Don't know if that really answers everything – but it seems like public would really allow me to have more options and open doors… It's good I have the CPA done but it's not going to get me into the Big 4 or mid-tier without the campus recruiting.

[mla1169]

If your goal is to be senior/management at a publicly traded company having public accounting experience is a must and big 4 is preferable. You can get in without campus recruiting, may be a little tougher but very possible.

If like me you prefer small, family run type businesses the public experience is pretty moot.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

If your goal is to be senior/management at a publicly traded company having public accounting experience is a must and big 4 is preferable. You can get in without campus recruiting, may be a little tougher but very possible.

If like me you prefer small, family run type businesses the public experience is pretty moot.

I see myself more as a tax person. The quirky tax guy…. Definitely not audit.

I don't have to make any decisions about DePaul for awhile as November 1st is the due date for January. I don't have to take the GRE/GMAT because a CPA license is an exception for the MAcc.

[Anonymous]

45k at 30 with experience? Krist dude.. my condolences..

[NumberCruncher4lyfe]

Ok so I've seen this scenario more and more than you think! It looks to me that you have a solid foundation in corporate accounting and you possess some skills that are transferable to public accounting. If i were you, I would not get the Masters and go with option 2. People who either start out in industry accounting always believe that they can't get into public accounting or a Big 4 firm. Which may be true that you do have to work a bit harder to get there. I would go and get some experience with a smaller firm, where you are not restricted on what you're doing. Typically, in smaller firms you are required to dive in anywhere needed so you will have a mix of audit and tax skills. Bigger firms seek this more than anything because it shows you are a team player being able to adapt to both accounting services. I personally started out in industry myself and got a few years experience with corporate accounting. I then landed a sweet position in a smaller firm and learned a lot. Guess What? I've been able to interview with all the Big 4 firms and a few big regional firms and they were very much impressed with what i learned in corporate accounting. However, you do need to know how to market those skills. For Instance, in my interview with PwC, I talked about how in corporate accounting while doing A/P and A/R I was able to assist the financial controller in making some internal control changes that reduced overhead costs by 20%. Guess what? I got the job. So look at the things in your job that you see that public accountants may lack and how you can add value to their team. You are more than capable and I believe spending and addition 50k is unnecessary if you already have the 150 credit hours.

[NumberCruncher4lyfe]

Oh and join your states accounting society and attend some of their conferences they put on. I attended and thats how i landed my job with the smaller firm because I set at a table for dinner with a few older CPAs and they loved me so much that they kept buying me rounds of beer. hahah! But really, join your state society and often times there is a person in the society that can help you get connections so reach out. Also, Linkedin is a very valuable tool. I always connect with recruiters and ask if they can look at my resume to see if I would be a great fit for a position with their firm. I also ask other questions and almost everytime they forward my resume to someone in HR and I have someone contacting me within 3 or 4 days of my correspondence with the recruiter i linked with on linkedin.

[Anonymous]

NumberCruncher4lyfe:

You seem to have some good ideas… I don't have to make a decision for awhile..

My buddy kind of made the same suggestions – said just network on linkedin, get the premium membership, etc..

Anyone else have any thoughts?

[fuzyfro89]

A) You are already a licensed CPA. You don't need a Macc for anything. Spending $50k to just get access to campus recruiting is a terrible decision. You also have several years of full time experience, so going back to school would put you in no man's land… you have experience, but just graduated (do they recruit you for entry level or experienced level?).

B) Of course you network, dummy. Big 4 probably has equal if not better chances just because of the sheer number of people they hire. In that regard, mid/small firms are more difficult because their hiring is more random and you have to really fit in well because they have their hand pick of campus hires, Big4-alumni, other firms alumni, etc.

C) Do you live in Chicago area (since you said Depaul)? I imagine the corporate opportunities are great, but you'll have to find them.

Considering you have several years of experience and only make $45k, you need to find someting to move your career forward (seems like that's what you want?). Network, take some specialty exams (CIA, CFE, etc) to set yourself apart, but only once you have a little experience in the field(s) to which they are related to get the value out of them.

I would do your options B + C at the same time and take the better offer between the two.

[kmaahs]

Don't get a Macc. Complete waste for someone who is already licensed.

Does your company work with any accounting firms? Great way to get an “in” if you have some contacts that you have worked with.

You are in an awkward spot right now… You are “experienced” but it sounds like not enough that you would be brought in at at the senior level, so you are looking for entry level, but don't have the campus contact to get into their recruiting sphere.

I would turn your attention to smaller firms. Get public experience, after two years (plus your current experiences) you will have the resume for a senior position. Once you are looking to get into a big 4 as a senior, you are outside the scope of campus hiring and things could be much smoother.

In the meantime, as everyone above says, network. Find some way to meet people at the firms you want to work at. Big 4 offer bonuses to employees who refer people above the staff level, so they have incentives to work with you towards getting hired.

Good luck!

C.P.A.

[Anonymous]

Seems like good advice –

My long-term goal is to get some public experience in the next five years so that will be my focus..

[Anonymous]

I am going to a Illinois State CPA Society breakfast on Thursday. I'll see what happens. They have several a month in my area.

[Author]

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