[theunexperienced]

Here’s my story so far. I’ve been floundering in retail (telecommunications) for six years now. I’ve been working there so long because I had no direction coming out of college and took a job totally unrelated to my degree. About three years ago, I decided to get back on track and pursue my career goals of getting into internal audit or forensic accounting. I figured the best way to get a decent job that can come close to my current pay rate is getting CPA certified.

I got my MAcc this past December to fulfill the educational requirements first. I have passed my first CPA exam and plan on being done with them by the end of August (God willing). This week, I finally got a series of interviews for a staff accountant II position through a recruiter. I just found out this morning that I didn’t get the job due to my inexperience with real world journal entries and lack of competency. I had hoped that my stellar interviewing skills could see me through, but my lack of experience hurt me.

Will passing these tests help me secure these types of positions? Or am I doomed to take a massive pay cut in an entry level accounting position?

FAR - 75 (2/25/16)
AUD - 80 (4/8/16)
REG - 80 (6/10/16)
BEC - 79 (7/19/16)

You only get one shot with the spirit bomb.

[JT]

Pessimistically, you're doomed for a pay cut.

Optimistically, you can find an accounting job in the telecommunication field. They might like the fact that you have hands on experience in that field. After 2 years or so of working in the accounting dept of the telecommunication field, you can try to lateral over to internal/forensic accounting. This option doesn't have any paycut involved at all. In my opinion, it is very possible, you will need to come up with a more specific/detailed strategy then what I mentioned.

There are plenty of doors open for you but you will need to have/keep an open mind.

Good luck to you as well. Hopefully we will all be done with these exams sooner rather then later.

Formerly-DAB

Reg 80

Bec 80

Far 73   75

Aud 69  89

Done! Time to live life again!

REG-80-1X
BEC-80-1X
FAR-73-1X
FAR-75-2X
AUD-September 2016

[TheHoundThatRides]

“Or am I doomed to take a massive pay cut in an entry level accounting position?”

You could wait around for recruiting season again and try seeing if you can get in a Big 4/National firm. If you're ready for long busy season hours.

I also like the suggestion to get involved in an accounting position in telecommunications.

BEC - 78 (August 2015)
FAR - 80 (November 2015)
AUD - 73, 67. (Ok I gotta confess I was even more lazy this time around)
REG - August 27th, 2016

[hasy]

Since you've recently graduated, I would say that you're still good for campus recruiting. It's march. Surely there are some networking events at your school that you could still attend. Reach out to some recruiters, SHOW that you've passed FAR. Most bigger firms have an internal audit division. So I concur with the above poster to go for national firms.

AUD - 83
BEC - 80
FAR - 83
REG - 78

BEC - 80 (Roger + NINJA MCQ + WTB)

FAR - 72; 83 (Roger + NINJA MCQ)

AUD - 83 (Roger + NINJA MCQ + WTB)

REG - 52; 78 (Roger + NINJA MCQ)

Ethics - 68, 96 (how I dislike you)
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This forum is more addictive than drugs. Still returning after licensure.

Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved - Helen Keller

-

BEC 80 (10/23/15)
FAR 72 (4/2/15); 83 (7/11/16)
REG 52 (4/28/15)
AUD (9/9/16)

Roger + NINJA MCQ + WTB

[Missy]

The fact that you're getting interviews means you're not too far off the mark, but its going to be a very hard sell to land a senior accounting position with little to no real world experience. You're MORE than capable of course, your Macc and passed exams speak to that. However very few companies can afford the time to get someone up to speed and need someone who has demonstrated they can hit the ground running. Believe it or not I have 20+ years g/l experience mostly in very small companies and even I was told I wasn't qualified for a senior position with a huge corporation because they felt my lack of experience with their volume would be a detriment.

All is not lost, if you throw enough mud at a wall it will stick. Keep applying, keep interviewing.

Old timer,  A71'er since 2010.

Finance manager/HR manager

 

 

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[JT]

I don't mean to hijack this thread.

I considered going to big4 with no experience as “pay cut”, isn't it?

With no/little experience I'm very sure you will get a job with your MAcc and being a CPA candidate, but I would think they would start you around $50k or so.

If you do decide to go to big4 or a smaller firm, there is nothing wrong with that, especially if you get into internal accounting (which is your goal at the end of the day).

Formerly-DAB

Reg 80

Bec 80

Far 73   75

Aud 69  89

Done! Time to live life again!

REG-80-1X
BEC-80-1X
FAR-73-1X
FAR-75-2X
AUD-September 2016

[jessica8926]

Try getting an accounting job with the company you work for now. Like someone else said you have field experience which i think a telecommunications company would appreciate someone having if they want to move to an accounting group. Look internally first, otherwise i agree with others. You sound like you are not too far from the mark, but it might be realistic that you will start with an entry level job.

AUD - 77
BEC - 82
FAR - 75
REG - 81

Illinois Certified Public Accountant 2016

AUD - 69, 77
REG - 74, 81
FAR - 75!
BEC - 71, 82

IL candidate!

Finally done (5/24/16)!! Yahooooooo!

[TheHoundThatRides]

@Dab

Big 4/large public firms were the highest starting salaries I could think of that are generally friendly to people entering the field with little experience. It's also seen as the quickest way to progress your accounting career, so that is why I recommended it. If he shows up to his school's recruiting event with a master's and most/all of the CPA complete, he's a shoe in for a good firm.

OP was vague about his current income so I'm not sure how much of a paycut it'll be. Even if OP makes less to begin with, I'm sure he'll surpass his income by jumping to industry after two years at a public firm.

BEC - 78 (August 2015)
FAR - 80 (November 2015)
AUD - 73, 67. (Ok I gotta confess I was even more lazy this time around)
REG - August 27th, 2016

[CPA2BEE]

In most industries, especially accounting, you are probably going to have to start at the bottom and work your way up. Especially if you are looking for a job in public, they aren't going to give you an advanced position without the necessary experience. There are A LOT of accountants on the market who have been grinding to work their way up even just to Staff Accountant II. Unfortunately, this is not a field where you can just skip to the top with your credentials, you have to put the time in too.

CA CPA - est. Dec 2016

FAR - 80
AUD - 82
BEC - 80
REG - 85

ETHICS - 90
EXPERIENCE - COMPLETE
Application for California license mailed 8/4/2016

[theunexperienced]

Thanks for the insight, folks. My current job pays in the mid 40s. I know I have to start at the bottom with no experience, but I was hoping I could land something in the late 30s to maintain our current living position. My interviewer said that I was more suitable for a Staff Accountant I instead of the Staff Accountant II that I interviewed for. The recruiter knew good and gosh darn well that I needed experience to get Staff Accountant II but I digress.

My “campus” is online and they did not have the greatest career center programs in my opinion.

I actually would love to stay with my current employer, but the only accounting/finance type positions that I qualify for are either in Lake Mary, FL or Tulsa, OK (I live in VA). Me and my wife just bought a house a couple of years ago and I don't think it's a good idea to move to one of these places. She already has a career here.

FAR - 75 (2/25/16)
AUD - 80 (4/8/16)
REG - 80 (6/10/16)
BEC - 79 (7/19/16)

You only get one shot with the spirit bomb.

[TheHoundThatRides]

Not sure if the cost of living is much much lower where you live but I got offers in the mid forties from two small CPA firms here in Los Angeles. Look at the starting salaries the small CPA firms around you have and see if that's acceptable for you. With CPA sections complete you should be good for recruiting season.

BEC - 78 (August 2015)
FAR - 80 (November 2015)
AUD - 73, 67. (Ok I gotta confess I was even more lazy this time around)
REG - August 27th, 2016

[theunexperienced]

When is recruiting season by the way?

FAR - 75 (2/25/16)
AUD - 80 (4/8/16)
REG - 80 (6/10/16)
BEC - 79 (7/19/16)

You only get one shot with the spirit bomb.

[Anonymous]

I think credentials do help in the long run. However, if a position requires the knowledge and skills typically gained in 3 years of work experience, then a CPA (or MAcc) will not substitute for the experience for many employers.

The exception is when you can somehow prove to the hiring manager you possess the knowledge and skills they need, despite the experience gap on the resume.

Another option, as I learned in my own career, is sometimes you have to be willing to take a step backwards today to get around an obstacle that's preventing long term progress.

[TheHoundThatRides]

The big recruitment time is in the fall. But after busy season ends you should monitor the job openings of the firm's around you. They may want to hire help to train during the slow period too.

BEC - 78 (August 2015)
FAR - 80 (November 2015)
AUD - 73, 67. (Ok I gotta confess I was even more lazy this time around)
REG - August 27th, 2016

[Author]

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