[Peanut Butter is Good]

I will have 150 credits this semester. I’m getting my MACC (never had a BS in accounting). No one hired me. I interviewed with most of the Big 4 and Big Nationals. My understanding is you get in as a student or not at all (>90% of the time). However, if I delay graduation to next December, I can still be a “student” and interview again (with more experience, CPA presumably passed, and better interview skills I suppose). Is there anyone here who has been on any side of this situation (mine, the firms, the recruiters, etc.) who can give me some perspective on whether it’s a good idea? I don’t want to get frozen out of public accounting forever… I’m not a quitter, so I need to think outside the box here.

AUD - 84
BEC - 88
FAR - 81
REG - 79

If I passed so can you!!

[Anonymous]

You are WAY too focused on public accounting. As a student/recent graduate you should be interviewing/exploring all opportunities – there are some amazing career opportunities/paths that you've probably already overlooked and missed out on just because public accounting firms have massive recruiting efforts/marketing so that's all you heard about ;).

but to your question – it's a risk thing. You could go through an extra semester/quarter and it won't help any and you'll only add to your debt load. But an extra shot could be all you need to get in but you also may end up with the same result. How much debt do you have and is it worth the risk to you? no one else can answer that nor give you any guarantees one way or the other.

Also, before any of that I'd check, does your school still let recent alumni have access to their career links and on-campus interviews? Many do.

[soyanks]

@ Peanut Butter.

If you already interviewed with most of the Big 4, then you are already in their system. Big 4 HR already has a record of interviewing you in the past, may not even offer you a chance to interview next time around (because they've met you and they can only interview X number of people, and may wish to interview someone new).

So unless there's something new that makes you more attractive as a candidate, there's no guarantee that you will even get an interview next time around. I would concentrate on finding a job with a mid size or smaller firm, or even in the industry.

If you get a job with a small firm, and you wish to interview with a Big 4 firm again, you can always reapply as an experienced hire after a year of experience.

FAR - 86
REG - 85
BEC - 90
AUD - 84

[fuzyfro89]

There are two types of people who get rejected for interviews/offers:

1) Good candidates who just didn't make the cut. These people will get a shot if they apply again.

2) Candidates they didn't like for some reason. These people will NOT get a shot if they apply again within a year. At my former firm, this was called the “no further interest” designation.

At this point, you need to focus on how you can do something different, IN ADDITION to re-applying to past firms. Apply to new firms, new locations, new something. Try and find some way tot get some experience. Given you interviewed with a lot of firms but didn't land any offers, it's less likely that your resume is an issue and more likely that your interviews weren't strong enough to make the cut.

Another year of school? I'm not sure I see your reasoning on why that's a great idea. Can you help elaborate on the thought process? Perhaps there's something I'm not considering.

[Peanut Butter is Good]

FuzzyFro,

The extra year of school is merely to remain a ‘student' because these firms hire only recruit students for entry-level. There's no other way to get in at entry-level.

Soyanks,

I would come back with a years corporate experience (I got hired for a corporate job), and presumably the CPA exam passed. There are actually enough small cpa firms that I think I can probably get in at one, but how small is small? Will a big 4 or big national consider you as an experienced after working at an office with 10 total people? Not sure.

AUD - 84
BEC - 88
FAR - 81
REG - 79

If I passed so can you!!

[mla1169]

People get hired at entry level who are our of school. Most new hires are on campus recruits but by no means all.

What would you do if a year from now you still didn't have an offer? Being a student by no means guarantees a big 4 offer. And while big 4 certainly is nice it's hardly the be all and end all of career paths.

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

Massachusetts CPA (non reporting) since 3/12.

[Peanut Butter is Good]

More presitge = better resume = better experience = more money (there or elsewhere) = more comfortable life

Sure there's other career paths….like opening my own business. But if I want to follow the public accounting road, what better way is there to go? Alternate career path is fine if it's just as good if not better in terms of finance and opening doors. Correct me if I'm wrong.

AUD - 84
BEC - 88
FAR - 81
REG - 79

If I passed so can you!!

[Anonymous]

DO NOT DEFER GRADUATION!!!

Man up and roll with the punches.

There are plenty of firms that will pick you up after you graduate. I graduated with nothing lined up- graduated in a rough hiring environment and got passed over, too. I had a job offer less than two months after graduation and ended up being able to enjoy my last summer.

Deferring graduation will have MAJOR ramifications on your lifetime earnings. Also, there is a very real possibility that you'll end up seeing many of the same recruiters. Don't think for one second that they forget about people.

[TNCPA16]

Terrible, terrible idea to delay graduation.

There's no denying that Big 4 is great experience, but you can definitely have a great career without it. Don't screw yourself out of other good opportunities because you are so focused on Big 4.

[Peanut Butter is Good]

Bill,

What ramifications? I figured it created more opportunities, but not more ramifications.

AUD - 84
BEC - 88
FAR - 81
REG - 79

If I passed so can you!!

[Anonymous]

Deferring graduation will cost you about $180,000 in lifetime earnings (assuming a 4% annual increase in salary).

That's not to mention the extra year of school you'll have to pay for.

Just go and graduate and find a job. There are plenty of firms that recruit people AFTER they graduate. I'd say about half of them.

Deferring graduation is a horrible idea. Plain and simple. You're much better off passing these exams and to keep applying.

[RHNotts]

I don't think delaying graduation is a bad idea if you qualify for grants. For the school year 2015-2016 it will be based on 2014 income. Grants are why I'm doing the masters and I'm not even all that interested in public accounting but why not take advantage? If you delay until December you can still work that corporate job full time assuming you'll only take a couple classes in the spring. If you can get next fall's semester paid for I think it's a smart idea to delay graduation.

I'm in a similar situation where I got an internship in industry. I'm staying in school mainly because it won't cost me much and if I do decide to pursue public I have another recruiting season.

[Anonymous]

“More presitge = better resume = better experience = more money (there or elsewhere) = more comfortable life”

I'll say it again. This mindset is pretty bad, and among students, unfortunately, is widely held. YOU think pubic accounting is the best way to go because that's all you hear about (I think they call that brainwashing). But there are EXCELLENT opportunities in private that give you great experience & are impressive that lead to great careers. For one, I encourage you to look at some larger companies in your area – many have rotational programs where you rotate through various finance and accounting departments through a 2-3 year period – as they build you up to be a more senior person. YOU may not hear about it because they don't hire students by the truckload every year so don't have the massive recruiting efforts that the big 4 do – but it doesn't mean the opportunities aren't better or don't pay more or don't lead to just as good of a career. Being so focused on one thing (big 4 or public accounting) to the point that you're ignoring or not putting effort into anything else is not great, especially since it sounds like you're planning to do another quarter/semester and do the exact same thing again.

Both my manager, who supervises a team of former big 4's, such as myself, and her manager, the assistant controller, at my company, a good sized publicly traded technology company, have no public accounting experience. Students have the perception (encouraged by the big 4 recruiters and professors whose research is paid by the big 4 firms) that it's either public accounting or stuck in a staff role for your whole career – and that is definitely not the case.

[Anonymous]

I deferred my graduation one semester to get another shot at the recruiting season, and to take parts of the CPA exam. I was able to get a public accounting job and pass 2 of 3 CPA parts I took. I also got a MAcc (graduated yesterday) having a Bachelors in another field. I couldn't get into B4, but I did get on at a nice sized firm and am looking forward to gaining experience.

Do what ever you think is best for you. Remember “Its Peanut Butter Jelly Time …..”

[waffle_house]

Why wait a delay a WHOLE year just to get into public accounting? You can work somewhere's else and still achieve your goal in getting a public accounting job while gaining experience and money.

AUD - 80
BEC - 75
FAR - 84
REG - 76

Exams started Sep 2014 -Exams done Mar 2017

Texas CPA

I put in work, it was evident

[Peanut Butter is Good]

I'm graduating now. Working on Business Environments section of CPA exam.

AUD - 84
BEC - 88
FAR - 81
REG - 79

If I passed so can you!!

[Author]

Replies