[mystical guy]

I’m keeping this forum alive but I also have a serious question, so don’t get tired of me just yet lol.

I recently was informed by a friend that his friend’s friend’s friend (not a typo), could “fix me up” with an industry job that pays about $80k/year, entry-level (Big 4 in my area, around $50k).

However, some people suggest getting the Big 4 on my resume, then going to industry, to ensure that I survive out there. Plus, I can’t be sure that I’ll be supervised by a CPA in industry. I’d have to get lucky.

Any thoughts?

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[taxman89]

Joelseph. i understand your point but i would argue your situation shows you should go the industry route. You went public, he went industry and you are the same age and he is your boss. Obviously you have wider range of knowledge but in your specific example industry won. That being said, i went straight into industry and am doing just fine 2.5 years in (though not 80K fine….thats pretty good starting salary). We just hired a manager with 7 year big 4 exp. While i have been promoted to senior in 2.5 years i would most likely not be able to get to manager in 7 years, more likely it would be about 10 if i stayed with my current company. So to my company big 4 years are more valuable than even in company years. That being said, my company's tax dept is pretty much the industry benchmark so i know that i could get a job with almost anyone in town if i wanted a change/move up (companies and recruiters call pretty much everyone in the dept regularly).

In summary, to me, it depends on the company. 30K is alot of bonus/raises to make up. If the company you would be working for is well know to have a great acct/tax/audit (w/e) dept then it would prolly be worth it to take the extra 30K because your exp wont be THAT discounted to other companies when you look to move.

just my 2 cents anyway

Aud-75 3x I knew i never liked you
Bec-77 1x being in the bubble is stressful
Reg-82 4x its not me its you...and no we cant be friends
Far-78 1x easiest section

[mystical guy]

Good ideas here. I guess what I'm hearing is, if you start in industry you're a specialist in that area (you're probably worth the most to that company which means you need each other). If you go to Public, especially Big 4, you'll learn from different projects and become irreplaceable in the long-run, which means you can work for any company in industry.

Analogy I heard about:

Big 4 practitioner (Surgeon=endless career opportunities)

Private practitioner ( General Practitioner=need to hustle to find a good job)

My Goal =Anesthesiologist=at least in my country, the most trained medical doctors and sometimes highest paid 🙂

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[mystical guy]

Good ideas here. I guess what I'm hearing is, if you start in industry you're a specialist in that area (you're probably worth the most to that company which means you need each other). If you go to Public, especially Big 4, you'll learn from different projects and become irreplaceable in the long-run, which means you can work for any company in industry.

Analogy I heard about:

Big 4 practitioner (Surgeon=endless career opportunities)

Private practitioner ( General Practitioner=need to hustle to find a good job)

My Goal =Anesthesiologist=at least in my country, the most trained medical doctors and sometimes highest paid 🙂

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[joelseph]

Just so we're clear… as I mentioned he didn't earn it, just fell arse backwards into it. So yes starting in Industry “won” in my case but I doubt it's typical. If my boss moved to a different position, any position, he would struggle big time.

I really do think starting in public gives you an advantage in the long run. You actually learn ‘accounting' not just industry specific or job title specific knowledge.

With that said, I know personally I struggled in my first year out of public because managerial accounting is much different. Never did I have to consolidate financials on 5 difference ERP systems or work with 1million row excel/access files doing Cost-Volume-Profit analysis, etc. in public, little of which requires fundamental ‘financial' accounting knowledge. So yes being well rounded is good and nothing can substitute for experience but there is a reason that all high level open accounting positions have the phrases “Big 4 experience preferred” or “CPA license required” they want people with public accounting experience for those 100k + jobs.

FAR: 84 on 4/4/13
AUD: 91 on 7/27/13
BEC: 72 on 11/11/13, 82 on 01/03/14
REG: 80 on 02/27/14

[joelseph]

Just so we're clear… as I mentioned he didn't earn it, just fell arse backwards into it. So yes starting in Industry “won” in my case but I doubt it's typical. If my boss moved to a different position, any position, he would struggle big time.

I really do think starting in public gives you an advantage in the long run. You actually learn ‘accounting' not just industry specific or job title specific knowledge.

With that said, I know personally I struggled in my first year out of public because managerial accounting is much different. Never did I have to consolidate financials on 5 difference ERP systems or work with 1million row excel/access files doing Cost-Volume-Profit analysis, etc. in public, little of which requires fundamental ‘financial' accounting knowledge. So yes being well rounded is good and nothing can substitute for experience but there is a reason that all high level open accounting positions have the phrases “Big 4 experience preferred” or “CPA license required” they want people with public accounting experience for those 100k + jobs.

FAR: 84 on 4/4/13
AUD: 91 on 7/27/13
BEC: 72 on 11/11/13, 82 on 01/03/14
REG: 80 on 02/27/14

[mla1169]

Never worked in public, never struggled in a new position or new industry. I've worked in publicly held companies and small private companies. Done everything from A/P Clerk to accounting manager.

There is value added by having public experience, I won't argue with that. But I'd be very careful with generalizing about people with industry only experience based on one or a few examples. I've worked for plenty of managers without their CPA and without public experience who know more about accounting than some CPA's.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[mla1169]

Never worked in public, never struggled in a new position or new industry. I've worked in publicly held companies and small private companies. Done everything from A/P Clerk to accounting manager.

There is value added by having public experience, I won't argue with that. But I'd be very careful with generalizing about people with industry only experience based on one or a few examples. I've worked for plenty of managers without their CPA and without public experience who know more about accounting than some CPA's.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

everyone saying to take the lower pay in hopes of moving on to a higher paying job down the line, what about moving on from the 80k job after a few years? pretty sure having a higher base to negotiate would be beneficial as well…

[Anonymous]

everyone saying to take the lower pay in hopes of moving on to a higher paying job down the line, what about moving on from the 80k job after a few years? pretty sure having a higher base to negotiate would be beneficial as well…

[joelseph]

To mla1169, so have I… but they all come from Finance backgrounds.

FAR: 84 on 4/4/13
AUD: 91 on 7/27/13
BEC: 72 on 11/11/13, 82 on 01/03/14
REG: 80 on 02/27/14

[joelseph]

To mla1169, so have I… but they all come from Finance backgrounds.

FAR: 84 on 4/4/13
AUD: 91 on 7/27/13
BEC: 72 on 11/11/13, 82 on 01/03/14
REG: 80 on 02/27/14

[Study Monk]

mystical guy will you get the educational experience for your cpa license at both jobs? Or do you already have it?

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Study Monk]

mystical guy will you get the educational experience for your cpa license at both jobs? Or do you already have it?

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Study Monk]

I would take the private job at 80k. I would be happy to retire making 80k. Then again I am unemployed.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Study Monk]

I would take the private job at 80k. I would be happy to retire making 80k. Then again I am unemployed.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Author]

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