[Anonymous]

Short intro – Brand new poster here, only found this site yesterday as I now am preparing for the CPA. I had an undergrad business degree from the mid 2000’s, worked overseas, and recently came back to go into accounting. Enrolled in an MS program last year, went through recruiting season this fall, accepted an offer with a Big 4. The entire experience has been one of the easiest things I’ve ever done. If you asked me what the Big 4 were a year ago, I wouldn’t even know. Difference between public/private accounting..what? Oh, but I did remember what GAAP means after all these years.

Then I found this site. And have been reading posts from each forum non-stop. The different stories, experiences, challenges, everything have made me realize just how..uh..lucky I am? I’ll be honest, I applied to one and only one Big 4 because that’s where I wanted (don’t even ask why lol). I had no accounting experience, no CPA experience, and yet had no issue landing that one position. But I see people on here with years of experience, fresh from school, and even the CPA already finished and they can’t find A job let alone a Big 4 job. From my experience this fall and the experiences of my classmates (who all got Big 4 offers as well, some from multiple), I honestly thought people who wanted a Big 4 job generally got it and people who wanted regional/mid-sized/small got it because that’s what they chose and aimed for. But now it seems clear to me that some people throw their name in every hat and just pray because it’s actually extremely competitive.

I apologize if this comes off as some stealth brag post, it’s honestly not. It’s just reading this site and Going Concern (which I only found a few days ago as well) has given me a totally different perspective on this accounting world. I guess I feel like I’m in for a much wilder ride than I thought I would be, judging from some of the things I’ve read here. It also made me realize how ignorant I was to a lot of this stuff since I am technically a baby in this world. While I knew the Big 4 were the “BIG FOUR,” it never seemed like an impossible task for any eager individual. Not exactly like being a developer and getting a job at Google.. or maybe it is? I guess I’ll find out when I eventually begin.

Has anyone else who was fairly new to the accounting scene had a similar experience? A sudden epiphany?

Anyway, as I’ll be beginning in the fall I’ll be aiming to pass all of the CPA before then. I look forward to using this site and others in helping me with that. Also, if I was a bit vague with some of my info it was intentional. Things get back to you from online so I’d rather stay as ninja-like as possible.

[M.O.D.]

It is not a big deal, in fact it is hell on earth. They make you work like a dog for low pay. It is not nothing to brag about doing.

You have high intelligence, experience, maturity, likely went to a good school, did well, etc. I do too. I can walk into a recruiting room and come away with multiple offers to work like a dog for low pay. No thank you.

However, not everyone on A71 is as blessed as we are. If you see how some struggle with the CPA test…

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[M.O.D.]

It is not a big deal, in fact it is hell on earth. They make you work like a dog for low pay. It is not nothing to brag about doing.

You have high intelligence, experience, maturity, likely went to a good school, did well, etc. I do too. I can walk into a recruiting room and come away with multiple offers to work like a dog for low pay. No thank you.

However, not everyone on A71 is as blessed as we are. If you see how some struggle with the CPA test…

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[barelystayingsane]

@MOD Maybe on a per hour basis, the Big 4 pay is low, but my Big 4 benefits are very good, and I am able to live comfortably on my salary and still save 15% for retirement straight out of college. I know the adjustment for cost of living isn't very good, so maybe that doesn't apply for expensive cities like NYC or San Fran, but for a mid-sized Midwestern metropolis, it's good. Based on another forum post where people weren't batting an eye at a $30,000 accounting salary, I'd say the Big 4 pay well.

@Datcpa what school did you go to for grad school? That probably had a big impact on getting into the Big 4.

[barelystayingsane]

@MOD Maybe on a per hour basis, the Big 4 pay is low, but my Big 4 benefits are very good, and I am able to live comfortably on my salary and still save 15% for retirement straight out of college. I know the adjustment for cost of living isn't very good, so maybe that doesn't apply for expensive cities like NYC or San Fran, but for a mid-sized Midwestern metropolis, it's good. Based on another forum post where people weren't batting an eye at a $30,000 accounting salary, I'd say the Big 4 pay well.

@Datcpa what school did you go to for grad school? That probably had a big impact on getting into the Big 4.

[Anonymous]

@ MOD, yes sometimes we have to be grateful for the little things, not everyone is as fortunate. Even though I struggle with the test due to laziness and bad planning I am grateful I can still afford a retake. Not allot of people are blessed with the opportunity to take the CPA exam and stick with it.

@datcpa,good luck wishing you all the best.

[Anonymous]

@ MOD, yes sometimes we have to be grateful for the little things, not everyone is as fortunate. Even though I struggle with the test due to laziness and bad planning I am grateful I can still afford a retake. Not allot of people are blessed with the opportunity to take the CPA exam and stick with it.

@datcpa,good luck wishing you all the best.

[mla1169]

Probably the fact that you didn't hold big 4 on some pedestal served you well in recruiting. You were likely far more relaxed and natural than some of your peers who felt B4 was do or die.

That said, if you are at a highly recruited school, the odds were far more in your favor than someone out of school, or at a less recruited school. Congratulations though, it's still an accomplishment to be proud of!

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

Massachusetts CPA (non reporting) since 3/12.

[mla1169]

Probably the fact that you didn't hold big 4 on some pedestal served you well in recruiting. You were likely far more relaxed and natural than some of your peers who felt B4 was do or die.

That said, if you are at a highly recruited school, the odds were far more in your favor than someone out of school, or at a less recruited school. Congratulations though, it's still an accomplishment to be proud of!

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

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

@mod – Honestly, the pay is pretty good for entry level. And, as far as I know, a few good years and you can be sitting close to or just over 6 figures in Big 4. Let me know if I'm wrong though.

@barely – I'd rather not say the school, but, honestly, it's not a huge school. It does have a fairly good recruitment base but nothing ivy league or anything. Btw, was there any bonus for doing so well on the CPA? I'd gladly go for 99s if that's the case lol.

@mla – You're probably right, I really didn't think of my interview process as some holy grail. It probably did give me a better outlook.

Mod's comments do bring up an interesting point though. Isn't this the accounting and finance world? I expect to be worked like a dog.. the payoff is worth it in my opinion. I wouldn't have switched to this career if I didn't think so.

[Anonymous]

@mod – Honestly, the pay is pretty good for entry level. And, as far as I know, a few good years and you can be sitting close to or just over 6 figures in Big 4. Let me know if I'm wrong though.

@barely – I'd rather not say the school, but, honestly, it's not a huge school. It does have a fairly good recruitment base but nothing ivy league or anything. Btw, was there any bonus for doing so well on the CPA? I'd gladly go for 99s if that's the case lol.

@mla – You're probably right, I really didn't think of my interview process as some holy grail. It probably did give me a better outlook.

Mod's comments do bring up an interesting point though. Isn't this the accounting and finance world? I expect to be worked like a dog.. the payoff is worth it in my opinion. I wouldn't have switched to this career if I didn't think so.

[barelystayingsane]

If you get a 95.75 average or better, you get the Elijah Watt Sells award (which I think is just a plaque) from the AICPA. I believe PwC is the only Big 4 firm that gives an additional bonus. It is a $20,000 bonus, so if you work for PwC, it's definitely worth shooting for!

[barelystayingsane]

If you get a 95.75 average or better, you get the Elijah Watt Sells award (which I think is just a plaque) from the AICPA. I believe PwC is the only Big 4 firm that gives an additional bonus. It is a $20,000 bonus, so if you work for PwC, it's definitely worth shooting for!

[M.O.D.]

@dat

If one is entry level, then one would be ok with entry level pay. But you said you graduated in 2000. That gives you 13 years of work experience and that is not entry level anymore.

But if you are ok with starting from the “ground floor”, no problem. It takes more than a few years to make partner in a Big4, and the process is extremely political, discriminatory, etc. But if you are dedicated and that is the life you want, no problem.

My issue is that the partners are making their millions off of clients, while paying the entry level accountants peanuts. An economist would call this exploitation.

I've been an entrepreneur for the past 10-15 years, and I would always look for ways to underbid my employer by stealing his clients. If I could make a million doing that, then yes I would work of peanuts. But I would never put my career in the hands of greedy partners who have no incentive to share.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[M.O.D.]

@dat

If one is entry level, then one would be ok with entry level pay. But you said you graduated in 2000. That gives you 13 years of work experience and that is not entry level anymore.

But if you are ok with starting from the “ground floor”, no problem. It takes more than a few years to make partner in a Big4, and the process is extremely political, discriminatory, etc. But if you are dedicated and that is the life you want, no problem.

My issue is that the partners are making their millions off of clients, while paying the entry level accountants peanuts. An economist would call this exploitation.

I've been an entrepreneur for the past 10-15 years, and I would always look for ways to underbid my employer by stealing his clients. If I could make a million doing that, then yes I would work of peanuts. But I would never put my career in the hands of greedy partners who have no incentive to share.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[Anonymous]

@mod – Sorry if I worded it strangely, but I wrote mid 2000's, so about half of 13 years, but in a completely different industry. However, I'm also somewhat of an investor so the truth is it's not my sole income. I'll put it this way, while the salary certainly didn't wow me from the perspective of what I've seen, it wowed me for how much it was for someone with no experience in this specific industry. From what I've read here it's not uncommon for 22 year old fresh graduates to get 50-60k depending on the market. That's still pretty high for a new graduate considering the average American income is about 50. And a fresh accountant gets that from the start? I don't see how that's peanuts. Perhaps compared to what you could be making in the future, sure. But you don't have to become a partner to make a respectable salary, right?

[Author]

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