[MaxMuscle]

A little a bit about myself: Graduated undergrad with no job (I missed the college recruitment in the Fall) and only an Economics degree (3.6 GPA)

Goal: Work at Big 4/Mid-sized firm

Right now, I don’t even meet the requirements to apply to the graduate programs I am considering (CSUF or UCI) so during the summer I am simply taking courses.

By the end of summer, I will have completed 24 quarter units or 16 semester hours.

1. Principles of Accounting

2. Managerial Accounting

3. Individual Taxation

4. Accounting Information Systems

5. Intermediate Accounting I

6. Intermediate Accounting II

These are the two options I was thinking about

A. Finish up my last course for the summer, look for a entry-level accounting job for experience, all while studying for GMAT, then apply to the masters programs in January (rolling admissions). My reasoning for this route is to get under the radar of the recruiters again. I even attended a networking event near the end of school and a Deloitte recruiter suggested getting my Macc.

B. Look for an entry-level accounting job, apply to firms during Fall not as a student but an Associate, hopefully land some interviews, and tell them I would be CPA eligible by start date since I am short about 16 semester hours.

Is B even feasible? Even if they were cool with me not being CPA eligible before I apply, I am not sure my resume would stand out from the stack and going the Master’s route is safer. I feel like my chances are lower and do not require as much work as option A.

What do?

[Mayo]

I would go A all the way.

B is feasible, but not as likely. The firms do a fair job of getting their required number of recruits during on campus recruiting.

If you go A, just make sure the Macc program you go to is recruited by the Big 4.

Also, does CA require only 120 hours for the CPA license and exam? Or can you sit, but need additional credits to get the exam?

Mayo, BBA, Macc

[MaxMuscle]

120 hours is just to sit for the exam (which is the requirement firms really care about besides GPA and your personality)

You need 150 to be licensed along with the necessary hours.

@ Mayo

Where are you in your accounting journey? Working yet or in school still?

[Mayo]

Working in big 4 audit.

Another thought, your summer schedule is pretty aggressive. It'll be hard to get good grades, which might affect work prospects if a firm decides to see your grades.

Are those necessary to get into the programs you're looking at? I'm specifically talking about Intermediate accounting I and II.

Mayo, BBA, Macc

[MaxMuscle]

Yes they are.

I already completed Managerial and financial accounting in undergrad.

However, I just finished Intermediate I, Individual taxation, and AIS at my school's first summer session. So right now, I'm only taking Intermediate II. Yeah, I'm pretty sure I'm not going to get all A's but I don't think it will knock my GPA below 3.5

I think I am going to use my time right now to study for GMAT, maybe work park time, and do the essays.

[Mayo]

Well if you can do it, then more power to yah. Like I previously mentioned, with your background the Macc is your best option for a Big 4 position.

Mayo, BBA, Macc

[wizards8507]

A full-time MAcc is a waste of time and money. Get a job (even a crummy one) where you employer will cover your tuition. MAcc programs are usually stupidly easy because they know people only take them to get their 150 hours. Also, employers don't really care about your MAcc since they ALSO know you probably only did it to get your 150 hours. Stetson University and others offer online MAcc programs where you can be done in a year while working full time.

Regardless, it's highly unlikely that you get into a Big 4 firm with no experience since it's sounds like you didn't go to one of their target schools. If you aren't recruited to the Big 4 out of school, it's next to impossible to get in with them unless you have some years of experience.

NY CPA

[kmaahs]

I disagree that a Macc is a waste of time. Especially when a Big 4 recruiter suggested it.

The route I might go, if I were you, is goto the campus recruiting event this fall from your undergrad school and look to land a winter or summer internship.

If you can get into a firm as an intern, your odds of landing a FT with them is much better.

Make sure they know you plan to start your Macc shortly, because they typically won't intern someone not in school.

This way, you can do a couple month internship, come back and wrap up the MAcc, and maybe hit a couple CPA exams before your start date!

Based on your A, B sceanrio, I would agree with A, given those two choices.

C.P.A.

[wizards8507]

I did NOT say that a “MAcc is a waste of time.” I said a FULL TIME MAcc is a waste of time.

In ONE year, I did the following:

Started and finished my MAcc on my employer's dime

Started and finished all four sections of the CPA exam

Completed CPA experience requirement

Earned $58,000

You're suggesting he does the following instead:

Start and finish a MAcc program on HIS OWN dime

Incur tens of thousands of dollars in student loan debt

Gain no time towards CPA experience requirement

Earn no money.

You really think a full-time MAcc is the way to go? Of course the Big Four recruiter said to do that. They don't care if you graduate in a year with no job and student loans you can't afford.

NY CPA

[jeff]

“Sure, he/she is a licensed CPA…which is great and all…but do they have a MAcc?”

– No one ever 🙂

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

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

[kmaahs]

After re-reading your rebuttal wizards, I think our only real disconnect is simply the funding of his education, and not actually furthering it (it sounds like he still needs 16 credits anyhow to sit for the test). I apologize for mis-interpreting your initial comment on full time Macc programs.

What I will say though, is that the whole “employer pays for education” idea is not realistic across all markets. I know in the Detroit market, firms certainly won't pay for education. They may pay for CPA exam related costs, but not education. I did have a classmate who's MSA (same as Macc) was being paid for by his employer, but he was not in public accounting and he basically promised he was going to stick with them long term i.e. he can't up and run to Big 4.

The OP post specifically was interested in Big 4, and I presented a path that could very well land him in a Big 4 role at entry level. Your path could also lead to Big 4, just several years down the road, and he might have as much debt as anyone else if he is unable to find an employer who is willing to pay for his education or pay him as handsomely as yours. But there is certainly nothing wrong with your proposed strategy.

Also, I must say that year of yours is very impressive. Full time work, grad school, and all 4 cpa exams!? You sir, are a God among men! I commend you.

C.P.A.

[MaxMuscle]

I appreciate comments from both sides. The schools I will be applying to (UCI, CSUF, and USC) all have recruitment events and good relationships with Big 4 recruiters. Are you kidding me that recruiters won't hire out of these masters programs because I have no experience? I think of this as being a super-senior getting another chance at Big 4 recruitment. Many entry level associates get hired even without significant experience during fall recruitment.

Also, I didn't interview with firms because I didn't decide to pursue accounting until 2-3 weeks before graduation. In fact, many colleagues from my school get hired by Big 4 in the OC area.

I think I will find value in pursuing a Masters in Accounting

[Mayo]

Only two reasons to ever get a Macc:

(1) Access to recruiting if undergrad was successful

(2) convenient way to get 150 hours md necessary upper level accounting curses.

Deciding whether the risk outweighs the benefits is a personal choice. But seeing how Big 4 recruiting, and much off entry level accounting positions, is structured around on campus activities, access to a well recruited Macc will always be the best way to increase a prospect's chances.

Yes, there are there are other ways to eat to the same point. That's a different argument.

“Access to on campus recruiting is a waste of time if you want to go Big 4”, said no one ever.

Mayo, BBA, Macc

[Author]

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