[tonypineda88]

I was wondering if anyone here has experienced something similar?

Most people start at Big 4 straight out of college, but I was busy with school and 2 jobs and didn’t participate in the networking events like I should have; plus I thought I would just get a job with them after college. Well I did, but it took two years of applications, networking, and working in industry/taking my CPA exam in the mean time. Now I got an offer to start 7 months from now (January 2017) with a small possibility of starting sooner, at a starting salary that’s 5000 less than I make now — and that’s 7 months from now, at which point I would’ve expected a raise in my current position.

While I’m super excited to get this opportunity, I kind of feel under-appreciated and like I’m sort of taking a step back to get into the public accounting industry. I know it’s just money but I live in Los Angeles so money is pretty important lol. IDK, anyone have any words of wisdom, or went through something similar?

I’m a senior analyst at a bank, going in as a Tax Associate at Big 4

FAR: 4/15 80
AUD: 11/15 77
BEC: 4/16 80
REG: 8/25/2016 so ready to be done!!!

Lost motivation for the CPA exam for a few months after FAR, but ready to finish now!

[Nessie]

First, congrats for getting the position,

I am also starting as an associate in Tax with one of the Big 4 with 10+ years experience in credit risk management- did active trading for the banks, had series 7, etc. What do you expect if you have no experience in tax? Perhaps you should have gone into an advisory role if you wanted them to count your experience.

On the bright side, maybe you will be promoted faster than your peers. No one says you have to stick around. Learn something and move on.

AUD - 80
BEC - 84
FAR - 80
REG - 88

Using Becker Self-Study, Final Review and NINJA MCQs
Sat for BEC Dec 6th, 2016 !!!! 84!!!!!

REG Aug 20/15: 88
AUD: Feb 29/16: 80
FAR: Jun 10/16: 80
BEC?

Becker self-study, Becker Final Review & NINJA MCQS

[tonypineda88]

Congrats on your position as well.

I interviewed with a group in which it was pretty evident that I was the oldest, with everyone else just graduating. Just made me feel a little behind.

I'm really excited to join the firm and think I'm going to learn a lot, so I can see myself there for a long time so long as compensation seems fair and competitive. I could've tried to go for Advisory but I'm interested in Tax as well, and this was just what came up — thought it was an excellent time to get my foot in the door!

FAR: 4/15 80
AUD: 11/15 77
BEC: 4/16 80
REG: 8/25/2016 so ready to be done!!!

Lost motivation for the CPA exam for a few months after FAR, but ready to finish now!

[Pete]

Congrats dude,

Just curious, did you manage to get the position with 120 or 150 credit hours? I graduated 6 years ago, but i'm in a very similar situation. In my case, I did participate in on-campus recruiting for internships, but didn't network well, and ended up graduating without said internship.

In the meantime, i've been doing book-keeping positions, since most positions i've applied for require audit experience; this seems to be true for most general accounting positions. I'm planning to CLEP to the 150 hours and take a grad-school class to change my graduation date on my school's recruitment site.

5,000$ isn't going to be much, considering you'll have 10%/year raises at the Big 4. Sure, it sucks now, but within 2-3 years, you'll likely recoup the money you would have lost right now. In 5 years, you double your salery, so at that point, you can work 40 hours/week, while making six figures. At least, this is what i've heard from the grapevine. Maybe even more, if you network well.

B=84 This exam was such a b**** that I thought I failed-don't know how these things work
A=76 Slacker I am, I'll happily take it
R=81 I LOVE taxes
F=80 I don't wanna get banned for an expletive I'm thinking with "yea" proceeding it

[acamp]

“While I'm super excited to get this opportunity, I kind of feel under-appreciated and like I'm sort of taking a step back to get into the public accounting industry”

Lose this feeling as quickly as possible. It will only create an unnecessary chip on your shoulder. You are no different and no more special than every other incoming 1st year. You have unrelated experience. If I took my 5 years of Big4 Audit experience and applied to this tax position, I too would be offered an entry level salary. When you change your career, it usually comes with short-term costs.

Self proclaimed: Highest ratio of Replies to Others v. Posts Created on A71

California CPA - Big4 Aud Manager Alum - Private Accounting at Startups

FAR, REG and BEC with Ninja Notes + WTB Only

Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

Becker Videos: [AUD - 82]

California CPA

[tonypineda88]

Hey Ratfus, I got it with 150 credit hours. I did a study abroad in college as an excuse to travel — not accounting or finance related at all. It ended up giving some extra credits and with a few more classes, I graduated with a minor in Hospitality Management lol.

What's CLEP? And thanks, I hear the same about Big 4 and I think the first year or two will suck in that sense but I'm sure the benefits (which are far better than what I have now) will far outweigh the temporary down side.

Just wondering, are you currently applying/have an offer from Big 4?

FAR: 4/15 80
AUD: 11/15 77
BEC: 4/16 80
REG: 8/25/2016 so ready to be done!!!

Lost motivation for the CPA exam for a few months after FAR, but ready to finish now!

[tonypineda88]

Acamp,

Thanks for your input. But out of curiosity, wouldn't you be able to transition from audit to tax at the same salary/position, as long as it was within your firm?

I kind of got the message during my interviews that transitioning was really easy. I'm wondering in case there's ever other areas of client service I'd like to explore.

FAR: 4/15 80
AUD: 11/15 77
BEC: 4/16 80
REG: 8/25/2016 so ready to be done!!!

Lost motivation for the CPA exam for a few months after FAR, but ready to finish now!

[ruggercpa2b]

acamp is right. In my experience, most of the people that have worked in industry and want to get into public usually do end up taking a pay cut.

@Ratfus I was in a similar position as you and someone that reviewed my resume for me told me to leave off the years that I graduated from college, I have had a few times where I have been asked what year I graduated.

I also do not think 10% raise from staff one to staff hardly ever happens. The times you would see that much of a raise if you are getting promoted from being an associate to senior to manager.

AUD - NINJA in Training
BEC - NINJA in Training
FAR - NINJA in Training
REG - NINJA in Training

AUD - 1/6/18
FAR - TBD
REG - TBD
BEC - TBD

AUD - 73, 72 retake 7/2/2016
BEC - 8/20/2016
REG - TBD
FAR - TBD

I am so ready for this nightmare to be over. Been at this way too long.

[MaLoTu]

You will get a raise every year as a CPA in public accounting. My guess is by year 2 or 3 you will be equal or above what you would have earned had you stayed in your current bank role. Big4 and industry experience is only going to make you a better candidate for higher paying jobs later on, as well.

Almost always from my phone... please excuse my typos!

All 4 passed - 2016

CA CPA

[Pete]

I have 6 months public accounting experience from a small firm last year, but, unfortunately, that likely isn't enough to translate into anything at a larger firm. In fact, i've been told the short term nature of the experience works against me for getting into another firm. I've been told, it's a huge red flag that I was laid-off shortly after tax season. Mind you, this was for a DAMN internship.

I'm now at 10 or 11 interviews for the 1 year, since my layoff with nothing to show for it. Mind you, i've gotten through 4 phone screens, and gotten 1 or 2 SECOND round interviews. Each time I lose out because someone with better experience comes along. During my last interview, I was actually told, i needed to get into public because that's where your experience will come from and, again, lost out because experience. I was even told that if a lower position was available, I would have been hired in a second. Basically, my 6 years in book-keeping and 6 months in public barely equates to an entry level accounting job.

Tony, the CLEP is an examination, which usually high school students take; however, anyone can take it. The test basically constitutes college credits and is very CHEAP and easy (80$ test=3 credits). You can take classes like basic college accounting and algebra. Since you literally need 150 credits to work at larger firm, and the smaller firms rarely have entry level positions, i need 30 credit hours as cheaply as possible. I've been trying to get into a firm or a more highly paying position for YEARS and succeeded last year, but that didn't last. I learned alot from the experience though.

Rugger, I plan to take a grad-school class so I can remove my old graduation date and put the expected graduation date from my MBA. I'll also put 150 hours compliant with the date i got the 150 credit hours. If they say anything, I can always mention the fact I didn't want to jump right into grad school because it's a very expensive thing to do and I wanted to wait a bit, which is the truth. If i was able to be successful in this field, without 150 credit hours, I absolutely would not be getting my MBA.

B=84 This exam was such a b**** that I thought I failed-don't know how these things work
A=76 Slacker I am, I'll happily take it
R=81 I LOVE taxes
F=80 I don't wanna get banned for an expletive I'm thinking with "yea" proceeding it

[MrHopeful215]

can you tell me what you did as far as networking goes. I only have a few months until fall recruiting events start at my old college. I graduated in 2012, but passed the exams and will have my 150 by end of august.

AUD - 82
REG - 78
BEC - 78
FAR - 76

[Nessie]

@tonypineda88, Ha! I’ll bet I am older than you, so don’t feel bad. I really don’t care about the age gap. My guess is that I will be able to handle stress a little better and in a way, looking forward to starting from the ground up.

@acamp, couldn’t agree with you more. I’m checking my ego at the door.

AUD - 80
BEC - 84
FAR - 80
REG - 88

Using Becker Self-Study, Final Review and NINJA MCQs
Sat for BEC Dec 6th, 2016 !!!! 84!!!!!

REG Aug 20/15: 88
AUD: Feb 29/16: 80
FAR: Jun 10/16: 80
BEC?

Becker self-study, Becker Final Review & NINJA MCQS

[acamp]

tonypineda88, not really. While you can transfer functions, they are doing completely different work. I could see if you were a 2nd year audit associate you might be able to hop into a 2nd year tax position, but I would be surprised if an audit senior/manager could transfer into an equal role in the tax function.

I think of it like a construction Company, they are all in a similar line of work, but the master welder probably has no business operating the tower crane.

Where you are more likely to switch and retain your level is when you switch across more similar functions, e.g. from audit to M&A for example.

Self proclaimed: Highest ratio of Replies to Others v. Posts Created on A71

California CPA - Big4 Aud Manager Alum - Private Accounting at Startups

FAR, REG and BEC with Ninja Notes + WTB Only

Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

Becker Videos: [AUD - 82]

California CPA

[NYCaccountant]

I agree with acamp. You are taking a pay cut for Big Four to start, but the training and experience they will provide will be invaluable.

AUD - 99
BEC - 84
FAR - 93
REG - 87

NYC born and raised.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[tonypineda88]

Thanks all for the valuable inputs! It's made me feel a lot better about the offer.

@MrHopeful215 I got pretty lucky to be honest, and took opportunities as they came. I was working at a really shitty company (low pay bad management constant turnover and low growth) so I had my resume on Monster, Indeed, all the job sites. A recruiter scouted me for a temporary position with a “Big 4” firm for 6 weeks but higher pay. I said why not what could I POSSIBLY lose staying at this crappy company — worst case scenario I'd meet no one, get fired, and have to look for another temp job.

I took the temp job and met lots of staff, seniors and managers alike. Loved the team but unfortunately I couldn't go permanent (contract rules). Instead, I took a random opportunity with the client we were working with, which is where I am today as an accounting analyst. However the Big 4 company was still around as they were our main advisory team and I kept in touch with all my contacts. They submitted me through the referral program and it took a year, but one of my old managers knew someone who could push it forward. Got the job within 2 weeks once that happened =)

FAR: 4/15 80
AUD: 11/15 77
BEC: 4/16 80
REG: 8/25/2016 so ready to be done!!!

Lost motivation for the CPA exam for a few months after FAR, but ready to finish now!

[tonypineda88]

@MrHopeful Outside of the qualifications they require, they look for people that are like-able and approachable. So my advice would be to just take it easy when you approach them. Be prepared to answer tough questions but be more prepared to show them your most approachable, sociable side. They love that.

My interviews were completely conversational; the only questions I got were “Why this company” “why tax” and “tell me about yourself”. The rest of the time we spent talking about hobbies, the housing market, and Europe lol

FAR: 4/15 80
AUD: 11/15 77
BEC: 4/16 80
REG: 8/25/2016 so ready to be done!!!

Lost motivation for the CPA exam for a few months after FAR, but ready to finish now!

[Author]

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