How important is relevant experience to get into BIG 4?

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  • #176673
    yeo34th
    Member

    long time following this website but finally registered to write this post

    I have around an year left on my contract with Armcy and have been actively researching the job market and I have started wondering if I can get a chance to have interview with BIG4 or even with mid-size accounting firm.

    here is some brief information about myself.

    I joined army right after graduation. Finace major 3.52 GPA from Penn State

    I am EA and also almost done with my journey to CPA.

    Planning on finishing either CIA or CFE or CISA before i get out.

    My biggest concern is that I do not have any work experience in accounting/finance field.

    As you have noticed, i am trying to make up my experience with certifications.

    Do you guys think I might have a chance?

    And for the ones already in BIG 4, which certificate will be most beneficial if i wanted to go to auditing ?

    I will be waiting for advices

    Thanks in advance,

Viewing 10 replies - 1 through 10 (of 10 total)
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  • #407209
    Anonymous
    Inactive

    I got an offer from one of the Big 4 (Deloitte) and am still in my MAcc program. I start this fall. The key to getting in with a Big 4 firm is to network with them. Attend all of the events at your school that you can in order to meet the recruiter and make a good impression. I think relevant experience is important – but only to the extent that it allows you to answer their behavioral interview questions with real life situations in interviews. I can't say this from experience yet, but it doesn't seem like the kind of experience you get outside of a large public accounting firm is exactly applicable to the work you do inside of a large accounting firm. In my opinion, they are mainly looking for personality traits, and attributes that you have exhibited consistently (hard-working, dependable, ambitious, etc.) Any work experience that can convince them you possess good character traits will go a long way.

    In summary, it's good to have some experience – but I don't think it's absolutely essential to getting hired with the Big 4.

    I also got the CFE last fall. It certainly has a place in Auditing, and the recruiters were impressed that I had already passed the exam. That being said, I think it was due to my display of ambition and hard work more than anything else (Not to say you don't learn valuable information by passing the CFE Exam). The Exam itself isn't too difficult – you should be able to get it no problem. They also give a huge discount to students. If you do decide to get it, I'd use the prep course the ACFE produces. You get a discount when you buy it, and it prepares you VERY well for the exam.

    In my experience, it's mostly about networking. Go to events, make a request to visit their office, get involved with Beta Alpha Psi (or the equivalent) at your school. Network with them.

    #407210
    Keely
    Member

    When you have no experience, your certifications take a backseat to your personality. Passing the CPA is great, and shows you're dedicated, but you still don't know squat the first day you walk in the door. Trust me, I know, because I am only a few months into my first job, even though I've passed all the sections. I never interviewed with Big 4 (nor did I even send a resume to them, not my thing), but I did do a few interviews with some mid-sized firms. All asked behavioral questions like, “Tell me about a challenging situation…” etc. One interviewer asked me a question I thought was pretty cool, which was to name something I dealt with in studying accounting that I found to be very difficult and how did I go about understanding it. I think that's an interesting question. I don't know what they want to hear from you at Big 4, because I feel like they just want you as slave labor, but I would imagine it's a lot of “fit” because they know you know nothing, they're going to have to teach it to you, and you're going to be working with these people 16 hours a day sometimes, so you guys better get along. That's who they're looking for, I'd think.

    BEC: (4/2012) 88
    AUD: (5/2012) 91
    REG: (8/2012) 82
    FAR: (1/2013) 78 🙂

    VA CPA #42010

    #407211
    Anonymous
    Inactive

    B4 wants to know you are willing to work hard, put in the crazy hours, and fit in well with the audit teams.

    #407212
    wizards8507
    Participant

    Use your Penn State alumni network. Big Four recruiting is based largely on networking. Over half of my undergrad accounting class went to Big 4 firms and many more of us had offers from them that we turned down. Different firms have different relationships at various schools, but schools the size of Penn State likely have a strong relationship with all of them.

    NY CPA

    #407213
    ImaCPA168
    Member

    I agree with Keely. For Big 4, experience is not that imporatnt because they expect you will work hard and are capable of learning at a fast pace and they will teach you everything. Neither is certification which is why they pay for your licensing and study materials. You just have to demonstrate that you're smart and willing to work hard, you're eligible to sit for the exams and committed to getting licensed, and you work well in a team environment. So don't be the loner at a recruiting event…make sure you're smiling and chatting with someone whether you know who they are or not.

    Network, network, network!!!!! When I was in Big 4, I was really impressed with a intern I had. Not only was he great, but he told me that he went to a small state school and Big 4 didn't recruit on his campus. So he got the recruiting calendars for several larger schools and he would attend those events. And that's how he got his foot in the door. I've also gone bar hopping and ran into some partners in town for a meeting. They were chatty and ready to accept resumes. Big4 are always looking for smart, young, capable, ambitious people to work as slaves for them 🙂

    If you're going through Big 4 recruiting at your school…it is a lot like Greek Rush. It's about personality and fit because the work you'll be doing and the kind of hours you'll be putting in are all the same no matter which firm you choose. So show them (not tell them) that you're smart and a hard worker (a lot of times they guage your GPA for this which is one of the reasons why they have minimum GPA requirements), you'll get your CPA, and you can get along with anyone and everyone.

    In the actual interviews they ask lots of personality/behavioral questions. Nothing about your knowledge in anything accounting (unless you're categorized as an experienced hire–meaning you are already a senior, manager, partner somewhere and interviewing at Big 4 for a similar or higher position. Then they ask you technical questions to make sure you're qualified and can hit the ground running). They will ask questions that help them determine your personality and whether are a good fit. This usually starts with “Tell me a little about yourself”. But I have had questions like “What is your favorite movie and why” and the good old “If you were and animal, what would you be and why?”. They want to know how you handle stress and sometimes how you handle potentially unethical situations. I've been asked “If a friend of yours had to skip class for a legitimate reason, say she was feeling a little sick, then she asked you to let her copy all your notes and homework for the day she missed, what would you do and how you would say it to her? What if she skipped school for a not so legitimate reason, say she went to the mall with another friend?” I've gotten questions too bizarre to share here as well…I think they just wanted to see me squirm and how I would tackle the situation.

    When I became the one asking recruits questions I would ask stuff like, “So how is school going? Is your program challenging? Do you have questions for me? ” Wrong answer would be “OMG…the program is so intense! I'm so stressed and tired all the time. I can't wait to graduate! So, how bad are the hours? I heard they're bad but is it like working 10 hours a day?” Any thing that sounds like whinning, that you can't handle stress, that you can't sit and work for more thant 8 or 10 hours a day is a bad sign to Big 4. LOL!!!

    B - 83 Done
    A - 88 Done
    R - 81 Done
    F - 77 Done

    Ethics - Done
    Attest Hours - Done

    Licensed-May 2013!

    #407214
    yeo34th
    Member

    Thanks everyone for all your opinions!

    I believe i should looking into government job postings too since I have military background and top secret security clearance.

    I love this website this is the best !

    #407215
    mla1169
    Participant

    There was a time that military experience was considered the equivalent of just about any experience out there. But potential employers will know you don't shy away from a challenge because you served (by the way, THANK YOU for serving our country!)

    Government jobs may be a great avenue for you. With your CPA theres a world of options for you. If you're well versed in the FAR (not the CPA exam, but the Federal Acquisition Register), theres definately a demand for accountants who understand Government contracts and acquisitions in the private sector!

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

    Massachusetts CPA (non reporting) since 3/12.

    #407216
    yeo34th
    Member

    Thanks for great information mla 1169!

    Where can I learn about Federal Acquisition Register?

    #407217
    mla1169
    Participant

    This is the electronic version of the FAR https://www.acquisition.gov/far/

    The hard copy is approximately 2000 pages of “light reading” LOL. If you ever get into it, get a hard copy, mine is all highlighted, dog eared, and sticky notes and much easier to navigate now than the electronic version.

    Major companies (Raytheon, Boeing, Lockheed) and small manufacturers like my employer contract with the government. Theres a definate niche industry in being able to read and interpret govt contracts because the govt is far less forgiving of contract mistakes than private industries.

    I took a great class on how to use the FAR at GW University in DC. Was a week well spent but I'm certainly a novice reading the FAR. We ultimately contracted with a CPA down in DC who had 30+ years experience working for DCMA and actually helped write some of the FAR. He's been so valuable in helping us negotiate govt contracts to minimize our exposure. Someday I hope to have a stronger grasp on the concepts.

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

    Massachusetts CPA (non reporting) since 3/12.

    #407218
    yeo34th
    Member

    Thanks for the great info again mla1169!

    I have learned alot from this thread!

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