[T Rev]

I work in Industry at a growing Midwest company with 1.3 billion or so in revenue. I make 47k as a manager in A/P after helping implement the PM module during our conversion to SAP, but feel I am not getting the chance to learn enough in this role to become more valuable. I expect to have my CPA license in the next month and am wondering if I should make the jump to public for a few years to gain knowledge and increase earning potential. Would this still make sense to do at 29?

[nrlew28]

I was 33 and jumped to public from private industry. It was not a good move for me, only because I did not have CPA at time and was trying to get accustomed to the public environment. For you, it is not too late at all. Especially since you almost have your license.

[nrlew28]

I also meant to add that while trying to get accustomed to public, I was studying for the exam and it created distractions for me. I told myself that the only way I go back into public at my age is if I have my CPA.

[T Rev]

Did you stay in Public? I am largely looking for the opportunity to get into a company with better benefits and comp.

[lou]

I'll be starting in public at 29 at the end of the summer after a career switch. Age is just a number and if its any consolation my 2cents is that you'll advance quickly being a big more “Seasoned” in life….

You'll be a first year who's 29 – you've likely lived on your own for 4-5 years, pay your own bills, show up to work on time and are committed to get the job done… because you need to be there. You are likely more career focused then just “getting your two years in public” and can likely relate to a partner better then you can a 22 year old first year…

Theres a large maturity gap in general (always exceptions) between 22/23 and 29/33. If you want to be a CPA, go public, the bigger the firm the better IMO.

Regardless of years worked at an office – in general you trust the guy/gal whos 35 and on top of things vs. the guy/gal whos 23 and on top of things…

[T Rev]

So I would go in at a first year rate, but advance more quickly, possibly? That would be ideal.

[lou]

You have no public expierence, so yes one could logically assume you'd be a first year associate.

Either way – around here you'd be looking at an insta 10k bump from where you are

[nrlew28]

I actually left public. It was not a good fit for me personally, due to structure of public and family life.

[T Rev]

I have one child, and my wife and I realize that working in Public will affect family time during busy season. We can make the sacrifice for a few years at least. Did it somewhat with studying for the CPA this last year.

[Ryan – Just Another Dollar]

I started in Public (Tax) in January after getting my CPA in 2016. I had previously been in a large company in industry for a couple of years and never felt challenged or fulfilled by my work there. My first busy season has been long, but not terrible after spending 7 months studying for CPA in 2016. I specifically searched for a smaller/mid-size firm rather than national/big 4; I ended up at a rapidly growing local firm with about 165 staff and work primarily on Partnership and high-net-worth Individual returns. I've found the work and environment to be very interesting and the adrenaline rush of a busy season tops anything I've experienced in industry. We'll see how the rest of my first year plays out, but I'm looking forward to some downtime after 2 months of 60-70 hours/week. If you have a family willing to sacrifice their time with you for 3 months out of the year in exchange for 9 months of flexibility, I'd definitely suggest giving it a shot.

B - 88 (2/16)
A - 84 (4/16)
R - 73 (6/16), 82(7/16)
F - 67 (1/16), 84(4/16)

Ethics - 93

Roger course & Ninja MCQ - HiYa!

[Pete]

Oddly, since they've implemented the damn 150 credit hour requirement, the average age of staff is probably around 24-25. Not everyone has the money to simply go out and buy a Masers or MBA program. If you pass the CPA exam before starting/have the 150 credit hours, you'll likely advance much faster than people, who don't have the above credentials. Most firms will not promote you past senior without the credentials and your growth will be much slower.

In addition, actually getting into a public accounting firm appears to be near impossible without campus recruiting, especially for larger firms. You can also expect to wait a few years, before you'll be even be able to start the position. I just did an internship at a firm; despite doing well, they have already filled the fall positions for this year. Because the fall positions are already filled, you'll be forced to wait until next fall at this firm. Most other firms hire a LONG time time in advance as well. Unfortunately, you're at their mercy with this timeline. Smaller firms on the other hand will hire with much shorter notices; however, you face much more volatility, after tax season (it's very common for layoffs at this point, when their work nearly comes to a standstill).

I'm 29 and searching for a public accounting position as well. If I could go back in time, I would have taken 6 classes/semester, since my school charges a flat rate up to 6 classes, and ensured I got hired by a firm while in school (ie. with a really high GPA). Either that or I would have gone into computer science instead, since it has a much less structured hiring process.

B=84 This exam was such a b**** that I thought I failed-don't know how these things work
A=76 Slacker I am, I'll happily take it
R=81 I LOVE taxes
F=80 I don't wanna get banned for an expletive I'm thinking with "yea" proceeding it

[Ryan – Just Another Dollar]

@Ratfus Out of curiosity, what part of the country/ what kind of market are you applying in? After finishing my CPA last September, I applied to about 20 small/mid-sized firms in the Denver area, interviewed with two, and got an offer to start 3 months later. The competition for jobs in this area is pretty intense due to the amount of young professionals moving from other parts of the country and good local university programs putting out qualified grads. In addition to a fairly quick job hunt, I still get weekly calls and LinkedIn solicitation from recruiters for industry positions. I just think it shouldn't be that hard to find employment with a CPA licence and well-written resume/profile.

B - 88 (2/16)
A - 84 (4/16)
R - 73 (6/16), 82(7/16)
F - 67 (1/16), 84(4/16)

Ethics - 93

Roger course & Ninja MCQ - HiYa!

[Pete]

I'm in CT. The market is awful here. One firm I applied to a while back had over 300 applicants for an UNADVERTISED position (3 spots). This was an entry level gig, but a ton of MBA's were applying and a bunch of people with over a decade of experience. Needless to say, I didn't get it.

My friend worked at a firm for a year or so, got fired due to “not learning things fast enough.” Needless to say, he worked at a call center for YEARS before he found another position. It might truly be the lack of 150 credit hours, but a decade or so ago (before 2008), the economy was so much better.

The problem with my state is they keep raising the taxes, which drives business away (everyone is flocking to Texas) while they charge near NY rates for property. The high business taxes are driving away companies, yet the state charges near what other states do for said taxes; both factors destroy the economy. In addition, my state has a ton of regulation, which further kills industry. If you look, my state has the highest requirements for the CPA exam.

Despite all this regulation, they have no support (customer support-to help people understand it). In fact, in my state people who issue a fishing license, now also issue the CPA license, which as you can guess creates quite a few problems. Good luck getting anything other than a “legal disclaimer” and a “we can't tell you if this qualifies” for an answer. My state is so bad at answering my licensing criteria, that i'm asking people from NASBA.

B=84 This exam was such a b**** that I thought I failed-don't know how these things work
A=76 Slacker I am, I'll happily take it
R=81 I LOVE taxes
F=80 I don't wanna get banned for an expletive I'm thinking with "yea" proceeding it

[T Rev]

@rtalfson I have family in Kansas City and Denver, so am looking at both markets. I am waiting to get licensed at the end of April before applying, but am surprised to hear your luck with the Denver job search. Do you thing there are more opportunities for tax positions than audit in Denver? Do the small/mid firms have decent benefits?

[Ryan – Just Another Dollar]

@Ratfus Thanks for the response and more detail. I didn't mean to sound like I doubted your efforts or anything, was just curious to know more. I'm sure the East Coast markets are rough all around.

@T_Rev I started applying as soon as I knew I passed and met all the requirements. I noted “All requirements met, license application pending” on my resume. I'm not sure how the timing will work out for you, but I was applying right in the Fall recruiting window August/September and was able to set up a time to fly out and interview in October.
I think for Public accounting in general, there will be more Audit positions than Tax, but that will obviously vary firm-to-firm. I don't know that Denver has any different breakdown. I targeted a smaller firm and tax because I didn't want to end up travelling and eventually would like to have a few clients of my own and be self-employed. The group I ended up working in specializes in the industry which I was working as an accountant, and with the CPA done I started at a 2nd year rate even though I didn't have any tax experience. I have employer-covered health insurance, profit sharing 401k match, and 5+ weeks of PTO. I definitely feel like I was fortunate to be able to move from MN to CO and both me and my spouse found good jobs to help us pay the crazy rent to live where we do. Good luck in your hunt!

B - 88 (2/16)
A - 84 (4/16)
R - 73 (6/16), 82(7/16)
F - 67 (1/16), 84(4/16)

Ethics - 93

Roger course & Ninja MCQ - HiYa!

[lou]

On the other hand I also live in CT and had 5 offers during fall recruiting season for this summer/fall start – I have 150 credits and stopped looking once I had 5 gigs lined up – interviewed at 2 big4, a large regional, and a couple small firms…

Have good grades, have 150, be personable… If you don't have 150 and can't find work, take it with a grain of salt… get 150 and try again.

[Author]

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