[005]

So I have an opportunity, due to extensive networking, to interview for a tax compliance position with a Big 4 in the nyc area. However, I can’t say I love tax, although I do like it somewhat an I guess I wouldn’t mind doing it. Ideally, however, I would love to do something related with securities…

For those of you who went into Big4 tax, do you ever regret it? I realize exit opps aren’t as great as going audit… that is the main thing that is making me hesitant. However, being this is pretty much my only chance to get into Big4, I’d feel like a dummy to pass it up.

Just looking for some insight pls

BEC - ✔
REG - ✔
AUD - ✔
FAR - 11/29/14

CPAExcel, Ninja MCQs, and a sh*t ton of coffee

[Anonymous]

Oh, and I forgot to answer the question: I regret choosing tax every day. Trying my best to exit into audit/GL accounting, even if I have to take a huge paycut.

[taxman89]

i started in federal compliance and sales and use compliance out of college in industry and was paid above big4 entry level. pros of tax are higher pay and consistent demand/headhunting (from about 6mon work exp forward)….but i also find it realyl tedious, esp sales and use tax. I am thinking about trying to jump to financial analyst/cost accountant since i was a finance+accounting major and enjoyed the finance side way better.

I def agree with the previous poster that said JD+MST=major$$$$

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

[Gerg, CPA]

absolutely

FAR - 1/26/2012 - PASSED (78, but Lost credit), re-do 11/27/2013 - PASSED (87)!
AUD - EPIC FAIL, 71, 69; 68; 5/25/2013 - PASSED (85)!
REG - 10/1/2012 - 72; 7/1/2013 - 73 UGH, 10/1/2013 - PASSED (85)!
BEC - 2/28/2013 - PASSED (82)!
Licensed CPA!

Used Becker self-study materials (just this for FAR original & REG #1), WileyTestBank, NINJA notes/audio, and Roger cram course for AUD #5, REG #3 & FAR reboot. CPA!

[jstay]

[pedrocerrano]

Personally, I think tax is great. I started off working in audit (public accounting), but found that tax (industry though so far) was more my cup of tea.

Some of the cons of audit IMO:

In audit, you are likely stuck in a conference room of the client's choosing at the client location (and there's no privacy working in a conference room with a team and it's easy to be distracted) and then the next week you could be assigned to do an inventory at a client in another state. Some may think the travel is cool, but it IMO gets old quickly & usually the travel for an inventory is going to be to some depressed area in the middle of nowhere.

Audit: may be good fit for more extroverted personalities. short drives – 20-40mins usually – in car travel (unexciting) and working in stuffy and hot conference rooms at client locations all day long with your colleagues in same room. Work location can change from one week to the next depending on client assignment

Tax: (from what I hear): may be good for more introverted. Most if not all of the work is at the office. Get in a routine going to the same place every day. And you at least can expect to get a small cubicle space of your own to work at

This is all to the best of my knowledge, but I'd love to hear what you guys have experienced out there. Thanks.

[PurpleK]

There seems to be a lot of negativity towards tax on this site. In order to make good money without getting a law degree or waiting 10 years to becoming partner, there are certain career choices you have to make. I started in a very large market at $62k and have more than tripled my salary in less than 5 years. 4x in a year with a good bonus.

1. Pass your CPA exam in the first year. Get licensed by your second year of working.

2. Work for one of the largest 6 public accounting firms in order to avoid #3.

3. Avoid dead-end industries and small markets (one that are unlikely to lead to better job prospects and significantly higher salaries). If you get stuck in one of the following, request to get transferred as soon as possible. This includes government, NFPs, multi-state, farming, trusts and estates, and small businesses. You will want to get exposure to individual taxes, but minimal exposure. The industries you want to be in are large public companies, energy, real estate, and investment management. In order to have access to these companies you will most likely need to be in a large market.

4. To tie into the other recent thread on here, you will need to job hop and be a top performer. I worked for two of the Big 4, before moving to private. When interviewing, tell the person you are interviewing your salary is 15% to 20% higher than what it actually is. This is believable if you are the top performer in your starting class in your specific group. I always got the highest ratings and when comparing salaries/raises with my coworkers, always had the highest raises.

5. Leave public accounting before you become a manager or have 5 years of experience. Once you hit the 5 year mark, you will pretty much be pigeonholed into tax unless you take a pay cut and start over.

[taxdiva]

@PurpleK you hit the nail right on the head.

If you know public accounting is not for you… stay at least 3 years. My mentor at my firm told me that early on. If you make it to senior or supervisor in tax (with your CPA license), your possibilities are limitless (if you avoid #3 as @PurpleK mentioned).

I started in the construction/real estate/insurance/banking/investment niche at my last firm. It was hard work, but I managed to make myself pretty marketable. I've since moved to a new state and I am now in the restaurant niche. Love it.

Direct your own career. Kiss the client's butt… “brown” nose all you can. Brown will eventually get you to the green… if you know what I mean. (hey I rhymed) lol

REG(10/23/12)- Passed. Life happended and lost credit - 18 month expiration)(Retake soon)
FAR - Passed. Used Becker.
AUD - Passed. Used CPAExcel (now Wiley)
BEC- Plan to take October-ish.

Just give me a 75!

[Anonymous]

I just feel there are too many “ifs” to go into tax (see all the “ifs” above). If you want to take the sure thing, go into audit and in two years take any job at any company related to an accounting/finance position; the pay will be solid but nothing crazy and there will be a plethora of openings.

Go into tax and if you luck out, jump around and give yourself a raise every few years and double or triple your salary. Fewer positions unless you're in large cities, but it can work out.

Oh, make sure you want to fill out governmental forms for the rest of your life too. You do need to have some sort of job satisfaction.

[Author]

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