So I have been offered to work with BIG 4 this summer as an entry level candidate. Does anyone know if I fail my CPA exams would they still keep me or ask me to leave? Also, they paid for my review course, will I need to pay them back?
billbrasskey thank you so much for your reply! I have been studying like crazy for the exam but sometimes I just feel like I do not get the concept! I really don't know what to do. I already feel like I'll fail the exams.
Don't sweat it. They're not too bad if you prepare adequately. If you graduated from an AACSB accredited college, you should have at least seen everything that will be on the test.
I only knew one person that got fired from PwC for not passing the tests. I think they fired him more because he gave up than because he failed.
Also, if you're good (but never pass CPAs) there is also the option of consulting. CPAs are really only a requisite for audit.
I have been extended an offer with PwC. I am more afraid of being fired then failing the exams. If I don't pass the exams would they let me switch to consulting. Any idea how flexible the firm is?
A lot of firms won't fire you as you'll probably leave any way. What happens is that you will not get promoted if you can't pass it. Once you start straggling behind your peers, you'll find yourself being supervised by people who started 1 or 2 years after you did which will be a blow to your ego. It's only a matter of time when you'll resign from there.
You can pass the exam. Set your mind to it and make it happen. All the people who passed are not better than you.
It’s just about the will and dedication. Give it your all and take the tests.. then worry about your job in your firm.
In my county i saw a number of non-CPA holders in Big4. They might keep you but you won’t climb up. Like the other person up there posted, you'll get stuck in a certain level.
That is not true. They will NOT fire you just cause the exams. There were quite a bit of of 3-5 year people in my office that hadn't passed yet and not one of them got fired and many of them were considered strong performers.
Let's face it, after 2-3 years, you are exactly the person that the firm can't afford to lose. They need to keep people at the senior level, no way they fire you, although your raises will probably be less. Deloitte requires a CPA prior to being promoted to Senior (after 2 years). So if you don't have your CPA yet, you get promoted to Audit in Charge instead – which is the exact same job as Senior but with a different title. Now with Manager, there is no alternative title – so if you still haven't passed after 5 years, you'd just be stuck as an Audit -in-Charge until passing.
The response I got was you cant promote to senior, and the group we worked with they typically promoted to senior after 2 to 3 years, so that's why they mentioned they had 2 years, I suppose to stay on their career track.
Odds are you will want to take your talent else where before they ever consider failing you.
You could always go to the consulting side too- It seems like it is not too bad to move around in those places. Bad attitude or giving up is probably not going to serve you well. If comes down to it though probably will just hold up promotion. Firing is if you are a PiTA.
You are focused on the wrong thing- if you got an offer you can pass the exam. Focus on the process aka what and how you are going to study, and put less focus on results.
Someone else mentioned in 2 years they can't afford to fire you, and it has some merit you are the perfect mixed of skilled and cheap. It is their bread and butter.
the exams are not as hard as you think. That doesnt mean that their not hard, they are still difficult. But don't feel so pressured and stressed out. The pass rate is between 40-50%. Thats almost 1 out of 2 people pass the CPA exams. If your smart enough to get to Big 4, it must mean you did well in your classes. Trust me, the work you do in classes is harder than the material you study for the exam. Studying is the hardest part. If you prepare enough, you should have a positive experience with the CPA.
It is do-able. Look throughout this forum and look at how many people have failed and continued to try to beat the exam. Because they know that this exam is do-able and they are strong. You need to learn to be strong for this experience
I dont know about pwc specifically, but you cannot be promoted to manager in audit and tax (I don't know about advisory) without a CPA license
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