[nkranyak]

Hi all,

I am currently a student majoring in finance and accounting to satisfy the minimum credit requirements for an Oregon CPA. I am not interested in going the public accounting route. I would like to pass the CPA and then combine it with an FP&A (Financial Planning & Analysis) certification because that is the career I would like. I feel as though the CPA is a great way for me to make myself more valuable to a company’s finance department. If any of you know a certification that would better compliment the CPA for a career in corporate finance I would appreciate your input. Also I am considering a small local CPA firm for my experience over a Big 4 because I am not interested in staying for very long. I feel as though I would have a competitive chance at a Big 4 with my involvement on campus, in the community and my GPA, but it would be immoral of me to waste their time and money (on training) just to leave once I got my certification.

Any advice??

[Anonymous]

I'm not sure how it would be less immoral to waste the training resources of a small CPA firm with few resources than to waste the resources of a B4 firm. 😐 Most employees at B4 firms don't last very long, so they're used to high turnover; the small CPA firms I've had experience with are usually pouring all their resources into training their new hire and needing them to stay for years. I'm not one that sees “big corporate” as having all the money and no expenses, but just saying that B4 seems to anticipate a lot of people leaving after 1 or 2 years, whereas small local CPAs usually are expecting someone to stay for awhile.

That being said, CPA could definitely be helpful for a career in FP&A, so it's definitely worth pursuing for an FP&A career. I looked into Finance some, so can understand the appeal. 🙂

[nkranyak]

I feel as though it would be less immoral because I would obviously be completely honest with a smaller firm that I had no intention on staying. In that case I would look for a firm that needed some extra aid during the busy season, but not beyond that. In that situation we would benefit each other and I would be able to part ways upon completion of the exam. However, with a highly competitive B4 position, I would not be able to be as open and still land the position! They have plenty of candidates who are equally or probably more qualified than I AND would be willing to stay for longer than me.

[mla1169]

Good luck with applying to a smaller firm and being up front with them that you intend to bolt ASAP.

Unless you have some serious experience/skills that would allow them to bring you on with zero training they're not likely to be interested in short term help for busy season. That's what interns are for.

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

Massachusetts CPA (non reporting) since 3/12.

[mw798]

Agreed with the above poster. Why on earth would you think any firm large or small would hire you if you told them you intend to bolt as soon as you are certified? A smaller firm would be less likely to hire you in that case.

[nkranyak]

Then what would be the best way of going about this? Staying at the firm for a couple of years? How would I get my CPA with the goal of going corp. finance asap???

[mla1169]

Depends on what counts as experience in your state to get licensed. In many states you don't need public experience.

From what I've seen close to half of people in big 4 don't last more than 2 years. Many only one year. It's almost one of those “look at the person on your left and look at the person on your right , one of you won't be here at this time next year.”

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

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

I can tell you that it's a longshot to get a finance position straight of college. Every single person in our FP&A department has some type of prior Finance experience, most with MBA's and a few with CPAs. There's only 1 guy they hired straight out of college but he's the son of one of the board members.

If you really want to get into FPA, your best option is to go into public accounting. Do it for 2-3 years and try applying for a Finance analyst position. (I've had many friends go this route) If you don't get any call backs, another option would be to jump ship from public accounting into an accounting position. Do well at the company, create a good reputation for yourself and ask for a transfer to finance.

I just made the switch to FP&A. I have 2 years B4 experience and 5 years accounting and financial reporting experience. And no, you shouldn't think you're immoral to just get your certification and bolt. To these huge accounting firms, you're just a body, you're just an employee number to them. They hire you as cheap labor because they know the value their firms name adds to your resume. At the end of the day you have to look out for yourself, because believe me, they certainly won't.

Good luck..

[How many letters do you need]

In many companies there is a financial reporting person within FP&A and that's the perfect starting spot for somebody with a CPA. The new FP&A cert through the AFP is interesting and something I've contemplated myself but honestly it's not well known so I would consider skipping it for now and picking it up in a couple years If/when it gains traction. FP&A is almost always going to require some experience and although you are going public at first you may want to think about a three step movement: Public to corporate accounting to finance/FP&A.

MBA,CMA,CPA, CFF?, ABV?

[rugger246]

Here are my thoughts on this…sometimes you have to pay your “dues” before you can get to where you want to be. I am not versed on the corporate finance area, but it seems from other poster that is a job that you may not be qualified yet or even in 1, 2, 3….or even 5 years. Thus learn as much as you can about what it takes to move into that area. It would probably help to meet some actually doing that job and get their thoughts.

Public accounting is always a great place to start…you may want to consider a regional size firm if not interested in B4. Get some good experience, pass your exam, and make your self competitive for that eventual corporate finance position. Looks like “Club300” handle made a plan and conquered, but it did not happen overnight.

And by no means…TELL A POTENTIAL EMPLOYER YOU PLAN ON LEAVING AFTER BECOMING CERTIFIED!!! Was I not clear!!! Who knows you may actually enjoy the job and your plans change.

AUD - Passed
BEC - Passed
FAR - Passed (Perfect Score of 75 to finish it off)
REG - Passed

[CPA soon]

Coming from a financial analyst, I can tell you that the CPA designation does not mean much without public experience. So if your interest is not public, go with something more aligned with your goals like the CMA or whatever. However if your goal is to be a controller or CFO then you need your public experience and CPA license. I am currently looking to transition to public after 2 and a half years in automotive.

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[Anonymous]

By pursuing a Big 4 job after college you will more than likely have a much higher chance of landing a more appealing FP&A job upon exit, especially if you work in an office and arrange assignment to a client that will provide relevant experience. Relevant experience will be much easier to come by at a Big 4 than a small firm unless you just get lucky. Also, Big 4 generally will look nicer on a resume.

Additionally, your main focus during the beginning of your career should be on the alignment of your career interests and goals, not the affect your career moves will have on your potential first employer.

[juuustin]

Immoral?? LOL.

There is nothing immoral about working for a company to get the necessary experience for the CPA. Your logic is definitely flawed as other posters have pointed out.

MD Candidate: 10/1/14

FAR - 87 (11/23/14)
REG - 87 (1/30/15)
BEC - 89 (4/19/15)
AUD - 98 (5/30/15)

Ethics - 100

Experience - In Progress!

[Anonymous]

I can somewhat speak from experience since I worked in a corporate environment and was hired straight out of college. Some corporations will hire for entry-level positions and requrie no experience as a public accountant. Having a CPA for some positions is nice, but not always required. I was fortunate enough that my company encouraged certifications and advancements and actually assisted me with the CPA process. Feel out where you want to go and see what they have available at entry-level, some of them only require a bachelors degree, then you can head where you want and not end up feeling ‘immoral' or like you are using a small firm or big firm for their CPA advantages.

[How many letters do you need]

I completely disagree that the CPA doesn't mean much in finance. As FP&A there are strong ties to accounting and the more you can show that you can speak their language the better. Plus if you ever have aspirations to become a head finance person you will more than likely never be able to do it without a CPA.

MBA,CMA,CPA, CFF?, ABV?

[fuzyfro89]

Immoral? No.

Unless they are asking you to sign an employment contract with a stated term (very few firms do this), then they understand that they can fire you and that you are allowed to quit at any time.

Either way, you can do what you want. A few people may actually prefer knowing what you want. Some industries do this. A few people I know in consulting and investment banking said they were asked pointedly in their interviews, “So, we know most people will not do this for more than 3 years. Given we will more or less push you out if you don't make the cut for Associate/Consultant, what are your medium term plans, and how will XX role fit into that?”

Most accounting positions don't have this level of transparency, and same in corporate finance. Regardless, to your question, FP&A is a great role with a blend of accounting and reporting work as well as analysis. May be a good fit, but having good experience elsewhere is useful.

[Author]

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