What are my possible career paths?

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  • #195924
    Anonymous
    Inactive

    I graduated from a consistent top 5 business school with a major in Accountancy and a 3.2 GPA. I accepted a job offer with Grant Thornton as an Audit Associate and plan on getting my CPA and working in audit for 2-3 years. I am curious as to what my options, with my background given, may look like at that time.

    -Will it be easy for me to enter industry?

    -What types of companies would offer me a position (small private companies vs. large public companies)

    -What positions would I likely be offered (financial analyst, internal audit, etc.)?

    -What position would it be realistic for me to strive for within the next 7-10 years (controller, CFO, etc.)?

    Any insight into any of these questions, or any advice you think would be relevant, is greatly appreciated.

    I would like realistic answers please – that means if there’s bad news, hit me with it.

    Thank you,

    Christian

Viewing 7 replies - 1 through 7 (of 7 total)
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  • #686887
    JohnWayneIsGod
    Participant

    I'm not the most experienced person here, but it sounds like you could do whatever you want to do since you went to a Top 5 B-school and had a 3.0+ GPA. Why not try for Big 4? I think GT is #6 or something, but there is a huge gap between Big 4 and even #5.

    The best that I saw from a guy in his 20s is that he was a controller for a division within a Fortune 500 company. It wasn't just handed to him though. He had to work for it.

    FAR - 80

    Courage is being scared to death, but saddling up anyway.

    -John Wayne

    #686888
    fuzyfro89
    Participant

    The “average” person's career is pretty uneventful. Many people, even CPAs, will top out at the manager level. This isn't for lack of ability, but it takes much more than ability to advance (many, many soft skills and emotional intelligence to be seen as a performer).

    To be clear, your best bet is to get into Big 4. Most public companies prefer (right or wrong is a different discussion) big 4 experience, so you will naturally come second in that equation. You can definitely do things to advance your position (compelling experience, getting unique skills, etc.) at GT, but again, the “average” person at Big 4 will have more opportunities than at GT. Outliers are everywhere, so let's agree to not talk anecdotes since that will just be an endless discussion.

    “-Will it be easy for me to enter industry?”

    Yes, the market for accounting/internal audit is strong generally for ex-public accountants.

    “-What types of companies would offer me a position (small private companies vs. large public companies)”

    Depends on your experience while at GT and what's available in your area. Generally, the largest public companies will prefer big 4, but this mostly depends on how well you network and interview than anything else. Honestly, I don't see much of a skill difference between public firms in the first 2-3 years.

    “-What positions would I likely be offered (financial analyst, internal audit, etc.)?”

    Accountant and internal audit are probably the “easiest”… financial analyst slightly more difficult.

    “-What position would it be realistic for me to strive for within the next 7-10 years (controller, CFO, etc.)?”

    In <10 years, it's very likely you'll reach the manager level in industry unless you don't try or are unwilling to switch companies to advance. Otherwise, I don't know. Depends on how well you network and interview. Also, keep in mind there's MILES AND MILES of difference between a CFO of a small company and even an accounting manager at a very large one. For example, I see headhunters advertising CFO salaries of 200k for smaller companies… whereas large public company CFOs make $1 million+. Same with accounting managers. I see those range from 80k to 130k.

    #686889
    Anonymous
    Inactive

    Thanks, that was very much the response I was looking for. Do you recommend that I switch to Big 4 as soon as possible, or get experience at GT for a few years then make the switch. Or should I just stay with GT and go into industry when I am ready?

    #686890
    knicks92
    Member

    leave GT after a year. GT is good but Big 4 is better. Just curious when you say top 5 business school, do you mean you went to an ivy league school and majored in accounting? Because if so, I think thats the first time I have ever heard of someone going into public accounting audit w/ an ivy league degree

    Also, get your cpa done with while at GT and before you move to Big 4. You will be a lot busier at Big 4.

    Tough times don't last. Tough people do.

    B: 88
    A: 77
    R: 89
    F:

    #686891
    Anonymous
    Inactive

    I went to the University of Notre Dame.

    #686892
    fuzyfro89
    Participant

    ND is a great business school. Unfortunately, the CPA mostly equalizes people at entry level.

    Get your CPA. It's a necessary evil. It won't pay off directly… but will allow you to advance more quickly.

    No guarantees anywhere. Let me be clear, big 4 will not mean employers are falling over themselves to give you a job after a few years. However, all else equal, large companies prefer big 4 vs other public experience. That's not to say you can't have an incredibly successful career in a mid/small public company or even private companies (isn't Uber private?), so this answer partially depends on where you see yourself being the most engaged/interested and therefore successful.

    Spend a year at GT. Get a feel for things. Network and find mentors to understand more of where you think your passion/ability/interests lie. If you feel a large public company is where you want to go, then try to move to a big 4 firm. Alternatively, you could join a rotational program in industry after 1-4 years and work your way up. GE is one that seems to get a lot of praise, but there are many others.

    Sorry to not give you a straight answer, but it really does depend. The simplest I can summarize:

    – If you want to go into a public company eventually, you need some public client experience. Big 4 will be the most likely place to have that. Something like 90%+ of public companies are audited by big 4 (I could be way off, so don't quote me)

    – If you are not dead set on public companies, then the answer varies.

    #686893
    AJE
    Participant

    Posting in this thread to check back in a year or two to keep myself on track.

    At that point I'll be/have:

    -CPA licensed

    -Master of Accountancy (3.9)

    -2 years in public audit in SF at a large, regional accounting firm

    Goals:

    -Option 1: Get into some sort of comfortable job (40 hour work week + good pay + good benefits + decent progression) in the education industry.

    staff (regional public) – 2 years

    job in the educational industry – donezo

    -Option 2: Try to become a CFO in 10 years by doing the necessary networking and/or moving to different companies.

    staff (regional public) – 2 years

    assistant controller (small private) – 1.5 year

    accounting manager (medium private) – 2 years

    assistant controller (medium private) – 1.5 years

    controller (medium private) – 3 years

    CFO (medium private) – donezo

    FAR 91 - 04/16
    BEC 87 - 05/15
    REG 77 - 07/27
    AUD 92 - 08/31

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