New Member – Questions about accounting careers

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    Topic
  • #183088
    NYer
    Member

    Hello, I am new here and I have a few questions about accounting careers. I am originally from New York, but for the past 10 years I’ve been working for the US government. The last 8 have been with the IRS in a “term” position that I just found out was not renewed for 2014 so I will be out of a job within a month.

    I have a Bachelor’s in Accounting as well as a Master’s in Accounting. I am eligible to sit for the CPA exam, but have not taken it yet. I fully intend to take it because I think it will be my only hope of getting anyone in the private sector to even look at my resume with nothing but government work on it.

    My question is – am I wasting my time and money taking the CPA exam? Will anyone even deign to hire me as a former government employee, regardless of whether or not I have passed the CPA exam? I had a feeling this end to my term position was coming so for the last year I have been sending out resumes and I only got one response. I went on an interview, the entire point of which seemed to be to chide me for working for the government.

    I know I’ve put myself in a horrible position by working for the government as more often than not the stereotypes about government employees are well deserved. In my case I worked on average 50 hours a week in the office and then spent another hour each day working on my laptop while riding the train home, and that overtime was unofficial as overtime was not authorized. I worked in a pension accounting position so I have considerable knowledge about pension law as well as the accounting side. Someone who’s opinion I value recently told me that I should probably consider going back to school for an MBA or something similar to just “start over” like I’m a new college grad and maybe leave the government stuff off my resume. This person isn’t a CPA though, and didn’t have an answer as to whether or not obtaining my CPA would open doors to me despite my government work.

    Thank you in advance to anyone who responds to my lengthy post and can give me some good advice.

Viewing 14 replies - 1 through 14 (of 14 total)
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  • #504559
    LSNYC
    Member

    I think you are being a little hard on yourself. I don't think working for the government has as bad an image as you are making it out to have.

    First I think sitting for the CPA exam is good no matter what level you are or where you are working. I think its good for your career and will be a benefit, to almost all people in accounting careers.

    Second use your knowledge with pensions to your advantage look for jobs about retirement benefits, maybe HR related 401k, benefits jobs with accounting back ground needed. Maybe make a cover letter that really highlights this area when you apply for these jobs. Still apply to other jobs but make sure to use a different cover letter.

    Third decide what you want to do! Do you want to do public accounting? Or private? Another government job?

    When you are out of work your full time job should be either study for the CPA exam if you can afford not to work for a while or/and finding a new job. But most importantly don't be so hard on yourself this stuff happens take a few days be upset be angry, but stop beating yourself up, you can find something else, you can pass the exam, and if you want that MBA go back to school for it. But if you don't want the MBA don't go back to school for it. Do what is right for you, but first you need to make that decision for yourself.

    A - 61, 91!!
    B - 78!
    F - 76!!!
    R - 71, 73, 74, 69, 77!!!!

    Finally done!

    This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

    #504610
    LSNYC
    Member

    I think you are being a little hard on yourself. I don't think working for the government has as bad an image as you are making it out to have.

    First I think sitting for the CPA exam is good no matter what level you are or where you are working. I think its good for your career and will be a benefit, to almost all people in accounting careers.

    Second use your knowledge with pensions to your advantage look for jobs about retirement benefits, maybe HR related 401k, benefits jobs with accounting back ground needed. Maybe make a cover letter that really highlights this area when you apply for these jobs. Still apply to other jobs but make sure to use a different cover letter.

    Third decide what you want to do! Do you want to do public accounting? Or private? Another government job?

    When you are out of work your full time job should be either study for the CPA exam if you can afford not to work for a while or/and finding a new job. But most importantly don't be so hard on yourself this stuff happens take a few days be upset be angry, but stop beating yourself up, you can find something else, you can pass the exam, and if you want that MBA go back to school for it. But if you don't want the MBA don't go back to school for it. Do what is right for you, but first you need to make that decision for yourself.

    A - 61, 91!!
    B - 78!
    F - 76!!!
    R - 71, 73, 74, 69, 77!!!!

    Finally done!

    This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

    #504561
    Anonymous
    Inactive

    Yes. It will benefit you to get the CPA. I don't understand the hostility about you working for the government in a pension accounting position. The wonderful thing about accounting is that it is needed in every industry, every company, and every level of government. If your educational background and your work history is in accounting then you shouldn't hesitate at all and honestly I don't think going for the MBA is going to open any more doors for you than a CPA would. If fact I think it will open less doors and I speak from experience because I have an MBA. Aside from proving that you can make it through the program it really isn't a career boost UNLESS you have the experience in a business function to make use of the designation.

    #504612
    Anonymous
    Inactive

    Yes. It will benefit you to get the CPA. I don't understand the hostility about you working for the government in a pension accounting position. The wonderful thing about accounting is that it is needed in every industry, every company, and every level of government. If your educational background and your work history is in accounting then you shouldn't hesitate at all and honestly I don't think going for the MBA is going to open any more doors for you than a CPA would. If fact I think it will open less doors and I speak from experience because I have an MBA. Aside from proving that you can make it through the program it really isn't a career boost UNLESS you have the experience in a business function to make use of the designation.

    #504563
    Skynet
    Participant

    @NYer – Welcome to the forum. As for taking the CPA exam. ABSOLUTELY! It is why most of us are here at A71 to provide support among one another for that long journey. Jeff and many others here have been very supportive.

    I have an accounting degree yet I am curently working in retail and hates it with a passion due to the mismanagement and the incompetence. I can't get a better job at he moment because my last experience was in AP, but that was more than 5 years ago. However, I am studying my butt off to pass he CPA exams to improve my marketability in order to land a better job. It's why I am here.

    As for the governemnt experience, don't be so hard about. Myself and others would kill to have that experience on the resume.

    AUD - 90
    BEC - 78
    FAR - 84
    REG - 87
    World Domination Plan

    Phase I : Pass CPA Exams - Complete
    Phase II : Megan Fox - In Progress
    Phase III : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
    Phase IV : Form the new Charlie's Angels with Megan Fox, Scarlett Johansson, & Gal Gadot
    Phase V : TBD

    BEC : 78
    REG : 87
    FAR : 84
    AUD : 90

    World Domination Plan

    Phase I : Pass CPA Exams - Complete
    Phase II : Megan Fox - Initiated
    Phase III : Bring back 8-Tracks
    Phase IV : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
    Phase V : TBA

    #504614
    Skynet
    Participant

    @NYer – Welcome to the forum. As for taking the CPA exam. ABSOLUTELY! It is why most of us are here at A71 to provide support among one another for that long journey. Jeff and many others here have been very supportive.

    I have an accounting degree yet I am curently working in retail and hates it with a passion due to the mismanagement and the incompetence. I can't get a better job at he moment because my last experience was in AP, but that was more than 5 years ago. However, I am studying my butt off to pass he CPA exams to improve my marketability in order to land a better job. It's why I am here.

    As for the governemnt experience, don't be so hard about. Myself and others would kill to have that experience on the resume.

    AUD - 90
    BEC - 78
    FAR - 84
    REG - 87
    World Domination Plan

    Phase I : Pass CPA Exams - Complete
    Phase II : Megan Fox - In Progress
    Phase III : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
    Phase IV : Form the new Charlie's Angels with Megan Fox, Scarlett Johansson, & Gal Gadot
    Phase V : TBD

    BEC : 78
    REG : 87
    FAR : 84
    AUD : 90

    World Domination Plan

    Phase I : Pass CPA Exams - Complete
    Phase II : Megan Fox - Initiated
    Phase III : Bring back 8-Tracks
    Phase IV : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
    Phase V : TBA

    #504565
    NYer
    Member

    Thank you all for the replies. I guess that interview I had, along with no responses to any of the other resumes I sent out, made me think that I might as well have no experience on my resume. I was sitting at thate interview thinking that these interviewers must have had nothing better to do because they mostly just made disparaging remarks about government employees.

    I definitely want to move out of government employment. The workload is getting impossible as they are not replacing anyone who leaves, and most of my soon-to-be-former co-workers all do about 50 to 60 hours a week all year. Many donate leave to the emergency leave bank (the government doesn't offer maternity leave or disability leave) because they don't have time to take it all before they lose it at the end of the year. I really wish I had pursued a stint with the Big 4 right out of school, but the IRS offered me the first job so I took it.

    As for the CPA exam, I view it as likely my best ticket out of government work. I've been out of school for over 10 years though, and I'm terrified of failing it terribly. The upside of my recent job loss is that I can really crack down on studying until I find another job. I don't really have any obligations outside of work, and I won't even have that in a month or so. That will be good I suppose because I know it is going to take me a long time of studying before I feel comfortable to start on the tests.

    #504616
    NYer
    Member

    Thank you all for the replies. I guess that interview I had, along with no responses to any of the other resumes I sent out, made me think that I might as well have no experience on my resume. I was sitting at thate interview thinking that these interviewers must have had nothing better to do because they mostly just made disparaging remarks about government employees.

    I definitely want to move out of government employment. The workload is getting impossible as they are not replacing anyone who leaves, and most of my soon-to-be-former co-workers all do about 50 to 60 hours a week all year. Many donate leave to the emergency leave bank (the government doesn't offer maternity leave or disability leave) because they don't have time to take it all before they lose it at the end of the year. I really wish I had pursued a stint with the Big 4 right out of school, but the IRS offered me the first job so I took it.

    As for the CPA exam, I view it as likely my best ticket out of government work. I've been out of school for over 10 years though, and I'm terrified of failing it terribly. The upside of my recent job loss is that I can really crack down on studying until I find another job. I don't really have any obligations outside of work, and I won't even have that in a month or so. That will be good I suppose because I know it is going to take me a long time of studying before I feel comfortable to start on the tests.

    #504567
    TXgurl
    Member

    NYer – many on this forum have been out of school for many years before taking the CPA exam. Just start a good CPA review course, and be prepared to work hard. Most people study for one section at a time, and sit for that section before moving on. I started the exam process at age 57, and within 18 months I have passed all four sections. I went straight to my local library after work, and put in 2-3 hours of studying, plus several more hours on the weekends.

    Regarding finding a new job: it sounds like you have marketable experience. My daughter is a CPA in Philadelphia, and her firm has a whole department that just audits pension plans. It may be that you could go in that direction.

    Get help on highlighting your accomplishments and skills on your resume and cover letter, and be sure to be positive on interviews. You may also want to consider the possibility of relocating. Good luck!

    REG 75
    FAR 88
    AUDIT 82
    BEC 74, 12/4/2013 84 Thank You Lord Jesus !!!

    #504618
    TXgurl
    Member

    NYer – many on this forum have been out of school for many years before taking the CPA exam. Just start a good CPA review course, and be prepared to work hard. Most people study for one section at a time, and sit for that section before moving on. I started the exam process at age 57, and within 18 months I have passed all four sections. I went straight to my local library after work, and put in 2-3 hours of studying, plus several more hours on the weekends.

    Regarding finding a new job: it sounds like you have marketable experience. My daughter is a CPA in Philadelphia, and her firm has a whole department that just audits pension plans. It may be that you could go in that direction.

    Get help on highlighting your accomplishments and skills on your resume and cover letter, and be sure to be positive on interviews. You may also want to consider the possibility of relocating. Good luck!

    REG 75
    FAR 88
    AUDIT 82
    BEC 74, 12/4/2013 84 Thank You Lord Jesus !!!

    #504569
    Anonymous
    Inactive

    I have always been of the understanding that IRS experience is very valuable if you're working on related fields outside of the IRS. So, a tax firm or tax lawyer – especially one who deals with pensions – would LOVE the experience that you have!

    Out of curiosity, what sort of jobs are you applying for? If you're applying for, say, Senior Accountant level in a general auditng position or in general corporate accounting, then your experience doesn't qualify you for that position. You have very specific valuable experience…but it's not as broadly applicable. For example, the fact that you know pension law inside and out does not qualify you to audit a client's fixed assets. However, it does make you invaluable as a pension tax law expert, or even as a pension expert in general. So, my thought is that your experience is so specific that you'll be qualified for jobs that 95+% of accountants couldn't touch, but it makes you unqualified for other jobs. Does that make sense? This happens to some extent with anyone after they get up a few tiers in their jobs. I'm working in corporate accounting. In 10 years, I hope to be in a much higher position. But I know that I won't be able to transfer to a same-level position in public accounting or governmental auditing, because my experience – while very valuable in one arena – would not be very useful in another.

    All of that being said, though, a recent pass on the CPA exams would indicate that while your expertise is in one area, you have knowledge throughout all of accounting. This still won't get you a shoo-in to a top position in a totally unrelated area, but it will help you get a first position and help you move up from there.

    #504620
    Anonymous
    Inactive

    I have always been of the understanding that IRS experience is very valuable if you're working on related fields outside of the IRS. So, a tax firm or tax lawyer – especially one who deals with pensions – would LOVE the experience that you have!

    Out of curiosity, what sort of jobs are you applying for? If you're applying for, say, Senior Accountant level in a general auditng position or in general corporate accounting, then your experience doesn't qualify you for that position. You have very specific valuable experience…but it's not as broadly applicable. For example, the fact that you know pension law inside and out does not qualify you to audit a client's fixed assets. However, it does make you invaluable as a pension tax law expert, or even as a pension expert in general. So, my thought is that your experience is so specific that you'll be qualified for jobs that 95+% of accountants couldn't touch, but it makes you unqualified for other jobs. Does that make sense? This happens to some extent with anyone after they get up a few tiers in their jobs. I'm working in corporate accounting. In 10 years, I hope to be in a much higher position. But I know that I won't be able to transfer to a same-level position in public accounting or governmental auditing, because my experience – while very valuable in one arena – would not be very useful in another.

    All of that being said, though, a recent pass on the CPA exams would indicate that while your expertise is in one area, you have knowledge throughout all of accounting. This still won't get you a shoo-in to a top position in a totally unrelated area, but it will help you get a first position and help you move up from there.

    #504571
    NYer
    Member

    I want to move into auditing and then possibly consulting or fraud examining. The part of my job that I love the most is poring over someone else's records. I don't want to sound like a snoop, but I enjoy audit work. I like finding errors and weaknesses in systems. Prior to moving into the pension job I worked as an auditor for income tax returns. Again, I loved delving into the records, but I hated having some people yell at me or start crying when I gave them the report showing how much additional tax they owed as a result of changes I made. The job I am likely going to be out of soon was different. Since I examined pension plans and audited them for compliance with applicable pension laws in both form and operation there wasn't the personal component that you have with individual income tax returns.

    Even though I am in my mid-30's, I have no issues with starting off lower on the totem pole as I understand that while I have auditing skills, I do not have auditing experience outside of examining tax returns. What you said at the end, Lilla, is what I was hoping to hear – that a recent pass on the CPA exam will show that while I am experienced in one area, I have the knowledge necessary to pass the CPA exam which encompasses a broad amount of material. I would hope that a recent pass on the CPA exam would convince an employer to just take a chance on me in the first place as I have a positive work history albeit in an unrelated job. I am completely of the mindset that a high starting salary shouldn't be the ultimate goal, but rather one should focus on whether or not the employer is a good employer, if the job will give you good experience and if there's room for advancement. While I was in college I was hired as a division bookkeeper for $7 an hour at a law firm, and within a year I was making $15 because they moved me to the AR/AP position for their sister insurance company. Back in the early 2000's $30K a year with full benefits was a pretty sweet deal for an early 20's kid in my town.

    #504622
    NYer
    Member

    I want to move into auditing and then possibly consulting or fraud examining. The part of my job that I love the most is poring over someone else's records. I don't want to sound like a snoop, but I enjoy audit work. I like finding errors and weaknesses in systems. Prior to moving into the pension job I worked as an auditor for income tax returns. Again, I loved delving into the records, but I hated having some people yell at me or start crying when I gave them the report showing how much additional tax they owed as a result of changes I made. The job I am likely going to be out of soon was different. Since I examined pension plans and audited them for compliance with applicable pension laws in both form and operation there wasn't the personal component that you have with individual income tax returns.

    Even though I am in my mid-30's, I have no issues with starting off lower on the totem pole as I understand that while I have auditing skills, I do not have auditing experience outside of examining tax returns. What you said at the end, Lilla, is what I was hoping to hear – that a recent pass on the CPA exam will show that while I am experienced in one area, I have the knowledge necessary to pass the CPA exam which encompasses a broad amount of material. I would hope that a recent pass on the CPA exam would convince an employer to just take a chance on me in the first place as I have a positive work history albeit in an unrelated job. I am completely of the mindset that a high starting salary shouldn't be the ultimate goal, but rather one should focus on whether or not the employer is a good employer, if the job will give you good experience and if there's room for advancement. While I was in college I was hired as a division bookkeeper for $7 an hour at a law firm, and within a year I was making $15 because they moved me to the AR/AP position for their sister insurance company. Back in the early 2000's $30K a year with full benefits was a pretty sweet deal for an early 20's kid in my town.

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