[mystical guy]

I’m keeping this forum alive but I also have a serious question, so don’t get tired of me just yet lol.

I recently was informed by a friend that his friend’s friend’s friend (not a typo), could “fix me up” with an industry job that pays about $80k/year, entry-level (Big 4 in my area, around $50k).

However, some people suggest getting the Big 4 on my resume, then going to industry, to ensure that I survive out there. Plus, I can’t be sure that I’ll be supervised by a CPA in industry. I’d have to get lucky.

Any thoughts?

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[mla1169]

It's only a pay cut if you have an $80k job. I'd pursue it and see what comes of it.

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

Massachusetts CPA (non reporting) since 3/12.

[mla1169]

It's only a pay cut if you have an $80k job. I'd pursue it and see what comes of it.

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

Massachusetts CPA (non reporting) since 3/12.

[jeff]

Get a job offer, then evaluate 🙂

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[jeff]

Get a job offer, then evaluate 🙂

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[impska]

It depends on your career goals. $30k is a lot of money – but if getting the experience for the CPA is important to you, you should probably do the minimum required time in public accounting.

If the CPA was just a means to pump up your resume to help you get a job, then I would suggest you seriously consider the 80k job. Time value of money is a powerful thing.

REG - 94
BEC - 92
FAR - 92
AUD - 99

[impska]

It depends on your career goals. $30k is a lot of money – but if getting the experience for the CPA is important to you, you should probably do the minimum required time in public accounting.

If the CPA was just a means to pump up your resume to help you get a job, then I would suggest you seriously consider the 80k job. Time value of money is a powerful thing.

REG - 94
BEC - 92
FAR - 92
AUD - 99

[FARtogo0114]

I had an 80k offer and turned it down for Tax position at regional CPA firm (same pay as Big 4). These are the reason I took less pay.

1) I can always move to industry after working at a CPA firm

2) The CPA firm only had 1 opening and picked me (The corporate firm hired 4-5 people)

3) I wanted the CPA experience

4) I can move to any industry after CPA firm, but corporate may limit my options

5) I didn't want to work for a single firm coming out of college, I wanted to work on multiple clients

6) The money will be there, if I continue to work my butt off (Which is what I am doing!!)

BEC 87
REG 76
AUD 67, 76
FAR 67, 79

DONE!! Feb 2014

[FARtogo0114]

I had an 80k offer and turned it down for Tax position at regional CPA firm (same pay as Big 4). These are the reason I took less pay.

1) I can always move to industry after working at a CPA firm

2) The CPA firm only had 1 opening and picked me (The corporate firm hired 4-5 people)

3) I wanted the CPA experience

4) I can move to any industry after CPA firm, but corporate may limit my options

5) I didn't want to work for a single firm coming out of college, I wanted to work on multiple clients

6) The money will be there, if I continue to work my butt off (Which is what I am doing!!)

BEC 87
REG 76
AUD 67, 76
FAR 67, 79

DONE!! Feb 2014

[joelseph]

I can answer this question. A good comparison would be my boss and I, who are the same age. You can make a decision from the info below.

Background:

Him: Has passed the CPA exam, but spent his entire 7+ year accounting career in industry at our company, falling arse backwards into his current role.

Me: 3 years in a regional public firm, 3 years in cost/analysis in manufacturing(and other), now here. 10 days from being done with my exams!

He is competent obviously but at the same time a complete idiot. Can't use excel to save his life, wouldn't know what an internal control if it slapped him across the face, doesn't have an outside perspective to facilitate process improvements, etc. He has a wealth of industry knowledge and textbook knowledge, but at the same time makes a crap load more money than me (and plans on staying here forever.)

So, if you want to take the extra money, fake it til you make it and stay with the same company forever go with the 80k. If you actually want to be a good accountant, and gain some understanding outside of one set of books, you know in the event you get tired of working for one company, or have the skills to pull another good job in case you get laid off or something then go public. Just remember that most people are working past 65 these days, that's a long time. I'll be way better off than him in the long run.

FAR: 84 on 4/4/13
AUD: 91 on 7/27/13
BEC: 72 on 11/11/13, 82 on 01/03/14
REG: 80 on 02/27/14

[joelseph]

I can answer this question. A good comparison would be my boss and I, who are the same age. You can make a decision from the info below.

Background:

Him: Has passed the CPA exam, but spent his entire 7+ year accounting career in industry at our company, falling arse backwards into his current role.

Me: 3 years in a regional public firm, 3 years in cost/analysis in manufacturing(and other), now here. 10 days from being done with my exams!

He is competent obviously but at the same time a complete idiot. Can't use excel to save his life, wouldn't know what an internal control if it slapped him across the face, doesn't have an outside perspective to facilitate process improvements, etc. He has a wealth of industry knowledge and textbook knowledge, but at the same time makes a crap load more money than me (and plans on staying here forever.)

So, if you want to take the extra money, fake it til you make it and stay with the same company forever go with the 80k. If you actually want to be a good accountant, and gain some understanding outside of one set of books, you know in the event you get tired of working for one company, or have the skills to pull another good job in case you get laid off or something then go public. Just remember that most people are working past 65 these days, that's a long time. I'll be way better off than him in the long run.

FAR: 84 on 4/4/13
AUD: 91 on 7/27/13
BEC: 72 on 11/11/13, 82 on 01/03/14
REG: 80 on 02/27/14

[mystical guy]

Thanks for the comments. I have to admit that Industry has shown a great deal of interest in me but the jobs they want me to do are not something that I'd be happy doing, not to sound like a male diva.

I've been punching myself with both hands. On one hand, I can clear my student loans in half a year if I go to Industry, who are begging to have me. Big 4 is hard to get into and I'd make less money and it would take longer to pay off the loans.

After reading your comments I'll apply to all the jobs but if I get a Big 4 offer i'll take it, and treat any opportunity cost as payment for 1+ years of public accounting college.

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[mystical guy]

Thanks for the comments. I have to admit that Industry has shown a great deal of interest in me but the jobs they want me to do are not something that I'd be happy doing, not to sound like a male diva.

I've been punching myself with both hands. On one hand, I can clear my student loans in half a year if I go to Industry, who are begging to have me. Big 4 is hard to get into and I'd make less money and it would take longer to pay off the loans.

After reading your comments I'll apply to all the jobs but if I get a Big 4 offer i'll take it, and treat any opportunity cost as payment for 1+ years of public accounting college.

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[impska]

Joelseph – Is that really a vote for public accounting or a vote for a breadth of experience? In all fairness, you can get a breadth of experience from public accounting easily.

But you could also accomplish it by jumping jobs in private every 3 years or so, until you wind up in a position that satisfies your monetary goals.

I empathize with you, Mystical. I also struggled with this decision. I got a lot of interest from private and some big offers. But, I went public for the experience requirement and because I didn't want to move. I started my CPA journey to do tax – and tempting though the private offers were, they were not in line with my career goals.

Nevertheless, since you're still job hunting – apply to both. If Big 4 falls through for you, that extra 30k a year will soften the blow.

There are heated debates regarding the cost-benefit analysis of going straight to private vs. staying in public. Given that this is a CPA-oriented forum, it seems that there may be a bias toward public. The lifetime career math is not so clear cut, so focus on your career goals.

REG - 94
BEC - 92
FAR - 92
AUD - 99

[impska]

Joelseph – Is that really a vote for public accounting or a vote for a breadth of experience? In all fairness, you can get a breadth of experience from public accounting easily.

But you could also accomplish it by jumping jobs in private every 3 years or so, until you wind up in a position that satisfies your monetary goals.

I empathize with you, Mystical. I also struggled with this decision. I got a lot of interest from private and some big offers. But, I went public for the experience requirement and because I didn't want to move. I started my CPA journey to do tax – and tempting though the private offers were, they were not in line with my career goals.

Nevertheless, since you're still job hunting – apply to both. If Big 4 falls through for you, that extra 30k a year will soften the blow.

There are heated debates regarding the cost-benefit analysis of going straight to private vs. staying in public. Given that this is a CPA-oriented forum, it seems that there may be a bias toward public. The lifetime career math is not so clear cut, so focus on your career goals.

REG - 94
BEC - 92
FAR - 92
AUD - 99

[taxman89]

Joelseph. i understand your point but i would argue your situation shows you should go the industry route. You went public, he went industry and you are the same age and he is your boss. Obviously you have wider range of knowledge but in your specific example industry won. That being said, i went straight into industry and am doing just fine 2.5 years in (though not 80K fine….thats pretty good starting salary). We just hired a manager with 7 year big 4 exp. While i have been promoted to senior in 2.5 years i would most likely not be able to get to manager in 7 years, more likely it would be about 10 if i stayed with my current company. So to my company big 4 years are more valuable than even in company years. That being said, my company's tax dept is pretty much the industry benchmark so i know that i could get a job with almost anyone in town if i wanted a change/move up (companies and recruiters call pretty much everyone in the dept regularly).

In summary, to me, it depends on the company. 30K is alot of bonus/raises to make up. If the company you would be working for is well know to have a great acct/tax/audit (w/e) dept then it would prolly be worth it to take the extra 30K because your exp wont be THAT discounted to other companies when you look to move.

just my 2 cents anyway

AUD - 75
BEC - 77
FAR - 78
REG - 82

AUD: 61-67-75 (Thanks ninja aud)
BEC: 77
FAR: 78
REG:69-73-70-82

Aud-75 3x I knew i never liked you
Bec-77 1x being in the bubble is stressful
Reg-82 4x its not me its you...and no we cant be friends
Far-78 1x easiest section

[Author]

Replies