[Anonymous]

Short intro – Brand new poster here, only found this site yesterday as I now am preparing for the CPA. I had an undergrad business degree from the mid 2000’s, worked overseas, and recently came back to go into accounting. Enrolled in an MS program last year, went through recruiting season this fall, accepted an offer with a Big 4. The entire experience has been one of the easiest things I’ve ever done. If you asked me what the Big 4 were a year ago, I wouldn’t even know. Difference between public/private accounting..what? Oh, but I did remember what GAAP means after all these years.

Then I found this site. And have been reading posts from each forum non-stop. The different stories, experiences, challenges, everything have made me realize just how..uh..lucky I am? I’ll be honest, I applied to one and only one Big 4 because that’s where I wanted (don’t even ask why lol). I had no accounting experience, no CPA experience, and yet had no issue landing that one position. But I see people on here with years of experience, fresh from school, and even the CPA already finished and they can’t find A job let alone a Big 4 job. From my experience this fall and the experiences of my classmates (who all got Big 4 offers as well, some from multiple), I honestly thought people who wanted a Big 4 job generally got it and people who wanted regional/mid-sized/small got it because that’s what they chose and aimed for. But now it seems clear to me that some people throw their name in every hat and just pray because it’s actually extremely competitive.

I apologize if this comes off as some stealth brag post, it’s honestly not. It’s just reading this site and Going Concern (which I only found a few days ago as well) has given me a totally different perspective on this accounting world. I guess I feel like I’m in for a much wilder ride than I thought I would be, judging from some of the things I’ve read here. It also made me realize how ignorant I was to a lot of this stuff since I am technically a baby in this world. While I knew the Big 4 were the “BIG FOUR,” it never seemed like an impossible task for any eager individual. Not exactly like being a developer and getting a job at Google.. or maybe it is? I guess I’ll find out when I eventually begin.

Has anyone else who was fairly new to the accounting scene had a similar experience? A sudden epiphany?

Anyway, as I’ll be beginning in the fall I’ll be aiming to pass all of the CPA before then. I look forward to using this site and others in helping me with that. Also, if I was a bit vague with some of my info it was intentional. Things get back to you from online so I’d rather stay as ninja-like as possible.

[M.O.D.]

@datcpa

I agree. I too am surprised by the debate and some the bitterness surrounding the issue. And I can understand it, if your job application is dismissed because it does not have Big4. Several people here have described the experience and it is indeed “Big 4 or go home”.

As far as experience, I have 20+ years in the business world. I started work when there were the Big 8. I followed the Andersen implosion day by day.

What you are doing by asking questions and opening debates is the best way to go.

The smarter person is not the one who's been to hell and back but the one who heard the screams and never entered. And, if I were to take advice, I'd take it from the smarter person.

My knowledge I picked by asking pointed questions of my professors and classmates, some of which are partners and staff at Big4. You will likely see all this spiel repeated in grad school.

And one additional caveat:

The people who lost the most in the Andersen collapse were not the senior partners, but the people closest to making partners (manager, seniors) because they lost all the accumulated work equity, for which they did not get paid. And those recently made partner (who had to invest $750K each into the company as a condition of partnership). They lost that money that in addition to the work equity.

The senior partners had already made their money back.

My point is that by the time you reach those echelons there is no guarantee that it will not be the Big3 and your firm is the one missing.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[M.O.D.]

@datcpa

I agree. I too am surprised by the debate and some the bitterness surrounding the issue. And I can understand it, if your job application is dismissed because it does not have Big4. Several people here have described the experience and it is indeed “Big 4 or go home”.

As far as experience, I have 20+ years in the business world. I started work when there were the Big 8. I followed the Andersen implosion day by day.

What you are doing by asking questions and opening debates is the best way to go.

The smarter person is not the one who's been to hell and back but the one who heard the screams and never entered. And, if I were to take advice, I'd take it from the smarter person.

My knowledge I picked by asking pointed questions of my professors and classmates, some of which are partners and staff at Big4. You will likely see all this spiel repeated in grad school.

And one additional caveat:

The people who lost the most in the Andersen collapse were not the senior partners, but the people closest to making partners (manager, seniors) because they lost all the accumulated work equity, for which they did not get paid. And those recently made partner (who had to invest $750K each into the company as a condition of partnership). They lost that money that in addition to the work equity.

The senior partners had already made their money back.

My point is that by the time you reach those echelons there is no guarantee that it will not be the Big3 and your firm is the one missing.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[Anonymous]

Nothings ever guaranteed. But I don't think we can afford to have “Big 3” because that's too much of a monopoly? Aren't they complaining in the UK about the Big 4 monopoly?

[Anonymous]

Nothings ever guaranteed. But I don't think we can afford to have “Big 3” because that's too much of a monopoly? Aren't they complaining in the UK about the Big 4 monopoly?

[M.O.D.]

@ onmywaycpa

I agree. But in the case of Andersen the prosecutors and regulators did not talk to each other until it was too late. The government makes mistakes too, and has a lot of power — not a good combination, especially when Congress is looking for scapegoats.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[M.O.D.]

@ onmywaycpa

I agree. But in the case of Andersen the prosecutors and regulators did not talk to each other until it was too late. The government makes mistakes too, and has a lot of power — not a good combination, especially when Congress is looking for scapegoats.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[henryv]

I know someone who was accepted in a big four firm in his 40s, and only worked 5 years over there before deciding to move to a mid sized firm. That person is now considering leaving public accounting behind after a year of working in the mid sized firm.

FAR - 92 02/2013
AUD - 90 05/2013
REG - 85 10/2013
BEC - 80 12/2013

I'M DONE. THANK YOU LORD!

[henryv]

I know someone who was accepted in a big four firm in his 40s, and only worked 5 years over there before deciding to move to a mid sized firm. That person is now considering leaving public accounting behind after a year of working in the mid sized firm.

FAR - 92 02/2013
AUD - 90 05/2013
REG - 85 10/2013
BEC - 80 12/2013

I'M DONE. THANK YOU LORD!

[Mayo]

Annnnnnnywaaaay, back at the ranch….

OP, congrats on landing a good position with a good firm. In this economy I think most of us are just thankful that we have careers/jobs. While Big 4 is definitely not the only place to be successful, I hope you are at yours.

Mayo, BBA, Macc

[Mayo]

Annnnnnnywaaaay, back at the ranch….

OP, congrats on landing a good position with a good firm. In this economy I think most of us are just thankful that we have careers/jobs. While Big 4 is definitely not the only place to be successful, I hope you are at yours.

Mayo, BBA, Macc

[Anonymous]

Lol, yeah, thank you. I don't see how anyone can be picky (beyond reasonable standards) nowadays.

[Anonymous]

Lol, yeah, thank you. I don't see how anyone can be picky (beyond reasonable standards) nowadays.

[Author]

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