[mike_terror]

Hi everyone, for the past few weeks I’ve been browsing through tons of online forums and reading as much information as I can, but I seem to be getting many different views and opinions leaving me still confused. I hope I can get some advice and suggestions from a few people who are in the working field.

I’m currently 23 and will be graduating from a cal state college in 3 more weeks getting my B.S in Business Administration, option in Accounting. Sadly my cumalative GPA will be at 2.97 or 3.0 depending on the grades I get on my final in the next couple of weeks. I originally majored in something else and didn’t take school too seriously during my freshman year which caused the low GPA score.

I worked throughout my whole college life to pay for school tuition since I didn’t receive any financial aid. I have zero working experience in accounting and regret that I never interned for any large company. Now that I’m graduating soon, reality is hit me in the face and I realized that many big firms only recruit out of college or recruit experienced professionals. I wont be fitting into either category!!!

1) I really want to get into public accounting and slave there a few years to gain experience before switching over to private accounting, how can I go about doing this? Based on my situation am I pretty much screwed? or can I still get into a large / mid size firm?

2) With my low undergrad GPA score, would it be worth it to go get a master degree in taxation and hope to get recruited during that route?

3) I plan to study for the CPA exam, but “IF” getting the master degree is worth getting, should I be going towards that path first before studying for the CPA

4) Based on my current situation, do I have any chance of really getting a public accounting firm? is this dream dead?

Any tips or advice will be greatly appreciated!

[mike_terror]

@ CalCPASoon, I feel so mind boggled right now. I feel so overwhelmed and confused on what to do because I'm seeing everything as a timeline, and trying to find the best cost efficient way to reach my goal being able to get into public accounting.

I totally hear ya and understand how the CPA will definitely weigh more than a MAcc. This makes me want to purchase a review course and start studying for the CPA in 2-3 weeks right when I finish my last few undergrad courses this quarter. But at the same time, I've been reading everywhere about how passing the CPA is like having a double edged sword, on one hand an employer may want you because you've passed a few sections or all of the sections, but on the other hand, they may reject you because you're not a fresh graduate, have no experience, but you've passed your CPA and may possibly be overqualified. I've been reading the pros and cons on getting the CPA and also personal experiences from a few people who have their CPA but cant seem to land a job.

With getting my masters in accountancy, I feel like I'll be able to redeem myself and have another shot at a higher GPA, but then at the same time I understand that nothing is guaranteed and can still end up at square one. If I go this route, I'll have to study pretty hard for the GMAT instead of the CPA and make sure I score high to compensate for my low undergrad GPA.

There are so many pros and cons with either route, I feel so confused and bothered every day. I thought about studying for the CPA, try and pass 2 sections while hoping to get hired by a firm. If I don't get hired, after I pass 2 sections, then I think I should try and go get my MAcc and put the CPA at a halt so I don't fall into the situation I mentioned above of having my CPA but no experience and not being wanted by recruiters. The problem I see with this route is that if I stop pursuing my CPA after passing 2 sections and go pursue the MAcc, this means the 2 passed sections will eventually expire due to the 18 month rule, and I'll have to get retested again AFTER getting my MAcc.

The other option is to go study and get the CPA and try to get hired with my 2.9 undergrad GPA, 3.1 major gpa with no experience.

OR

Get my MAcc, redeem myself, try to get hired, THEN get my CPA

OR

Get my CPA, THEN go back to school and get the MAcc

Ah! The headaches!! Being the first person in my family to actually graduate from college, I've never had much guidance, I hope I can get some more advice. Thanks!

[ROACH]

@mike I'm in the same boat atm. Here's what i'm doing…

2 weeks before graduation I landed a job as a staff accountant (more in line with a bookkeeper though) in industry… I'm like you, I wanted to start my career working public but I couldn't refuse a job offer coming off graduation.. know what im saying. I'm sure you can do the same… look on craigslist and see if you can land a entry-level accounting position.. public or not.

Anyway, i'm studying for the CPA (my motivation is super low atm though) but I'm confident I'll find my way to pass all 4 parts by early April. Then start studying for the GMAT (I need a high score too). CSUF deadline for the Masters program is in July (I think please double check) and by that time I will have 1 year experience, all 4 parts CPA exam passed, and a decent GMAT (i'll looking for the high 600, low 700). If I get into CSUF… after I graduate I should have about 2.5 years of experience at my job and I'm hoping to get recruited into big4 or a regional firm.

btw, i'm the first person in my family to graduate college too. share some more ideas and lets try to figure something out for you.

BEC: 66 | 69 | 7/23/2013
AUD: 8/28/2013
REG:
FAR:

[mike_terror]

Roach, it's nice to know that I'm not alone being stuck in this situation. We should definitely update each other and pass on ideas to help each other out or anyone else that is facing the same problem.

Craigslist is a pretty good source for finding entry level jobs, I've used it many times in the past, I guess I was just thinking way over my head and wanted to shoot for a larger mid-size firm instead of the local offices in the area that only has 2 employees. Are you working in City of Industry? Are you working for a private company or a CPA office?

@Roach, if you don't mind, can you share some of your background. Which undergrad school did you attend, what was your undergrad major, culmalative gpa, major gpa.

Do you plan to get your MAcc or master of taxation @ CSUF?

The route that your going (Pass CPA, then get a masters) is also an option that I am considering, but then again I hear so many people say that going back to get your masters after getting your CPA is a bit unnecessary and maybe a waste of time.

The confusion and headache!! What to do……

[ROACH]

I work at an export/import company doing G&A stuff… not very exciting.

I went to CSUDH as a accounting major. My cum is 3.2 and major is around 3.3-3.4.

I want get my master's in Information Systems (still debating).

The truth is the reason I want to do CPA first is I feel like I will be more competitive against the other ppl applying for the graduates program. Plus the CPA is a big deal… I want to be the first person to beat the CPA amongst my friends and I don't want to put it off.

School is mainly for networking with the firms. I really wanna do big 4. Only way I can do that is to go back to school. CPA exam already finished and on your resume makes you stand out amongst the others who decided to go straight from undergrad to graduate school. I just realized you're right and you don't really need to get a masters. I always thought that was a requirement for the CPA lol.

BEC: 66 | 69 | 7/23/2013
AUD: 8/28/2013
REG:
FAR:

[valueofnothing]

the other thing about going to school is should learn things that make passing the exam easier…

REG - 81
BEC - 88
AUD - 85
FAR - 81

[valueofnothing]

the other thing about going to school is should learn things that make passing the exam easier…

REG - 81
BEC - 88
AUD - 85
FAR - 81

[KalaB]

Mike,

A little about my personal experience… When I finished up my undergrad, I was in the exact same position. I had NO experience in accounting, and so many of my classmates were having horrific times finding employment. Now, it may seem like I just took the easy way out but I simply just stayed in school. I completed my MAcc within 1.5 years, and after graduating I landed the very FIRST entry level Staff Accountant position I applied for. I'm getting valuable experience while studying for the CPA. Sometimes I think a graduate degree can serve as a nice alternate to a lack of experience, especially if you simply just want to get your foot in the door. And unless you're trying to get into an Ivey league program, I wouldn't sweat your GPA too much.

[mla1169]

I think I've well passed the point where public accounting is even an option for me. I cannot (and will not) be a “slave” LOL and the travelling which seems to be required to be on the audit side vs. the tax side is out of the question while I still have school aged kids. But I've worked my way up the ranks, starting with doing collections calls for a retail store credit card, to collections calls for a manufacturer, to collections calls for a service company that fortunately let me try the waters with AP, expense reimbursements, commissions, international reconciliations, fixed assets and sales and use tax.

THEN I decided to get my associates when I was in my mid 30's. Xferred to a bachelor's program that I could do completely online (Southern NH University) and my employer pretty much insisted that I do my Masters (they're paying) and got so sick to death of people asking “does THAT make you a CPA?” that I thought I'd see what this CPA thing was all about. Seriously just on a whim,never set out for this at all.

I have a fairly decent GPA, undergrad was 3.77 and grad is 3.65.

That said,you'd be surprised even in industry, how many jobs “prefer” a CPA designation. Not even controller or accounting manager jobs, but senior accountant.The only reason I would even consider doing public is because many industry management type jobs want a combination of a masters, a CPA and 3-5 years public experience. Now I am “stuck” because too many public jobs without experience would be a pay cut for me and in this economy I am not in a position to take any kind of a cut at all. So I don't have the experience to move forward or the luxury of going backward even for a brief period of time to get ahead.

My advice to all of you who are younger and just getting started on your careers is to try EVERYTHING you possibly can, even for a short period of time. If your parents or spouses can provide health insurance for you, temping (Accountemps, etc) is a great way to get yourselves exposed to different industries and types of accounting to see what is or is not a good fit for you. If you are looking for a job, craigslist is a great resource, as is Linkedin, and a website called indeed that searches other job websites like monster and careerbuilder. And don't ever underestimate the power of a great resume, if you can have a professional help you with it, otherwise research how to build a great resume. You have to stand out in the crowd.

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

Massachusetts CPA (non reporting) since 3/12.

[mike_terror]

Thanks everyone for your great and valuable input. I've certainly been weighing the pros and cons for the past few weeks constantly trying to figure out how I want to setup my timeline for the next 3-4 years since I'll be graduating from undergrad in 3 weeks.

I'm currently 22 (turning 23 in a month), after a lot of hard thinking and hearing everyone's input and suggestion, I've decided that the most cost effective route for me is to study for the CPA.

My plan now is to study for FAR during September & October, then sit for the exam at the end of October, and sit for AUD at the end of November. While doing this, I will be looking for a job and be sending out my resume to numerous employers, including mid size & regional firms. If I land a job in public accounting while in the process of obtaining my CPA, then I will drop the idea of pursuing my MAcc.

However, if I complete and pass my CPA and still have not obtained a job, then I will take the GMAT and apply for a graduate program. Hopefully if I have to reach this point, having my CPA when I apply to the graduate program will give me a higher chance of acceptance. I'm also hoping that this will set me apart from other candidates when it comes time to on campus recruiting with larger firms. But I really hope that I will not have to come to this point. The worst case scenario would be that I've obtained my CPA & MAcc, but STILL no job.

I think my situation will be tougher than others, but I'm definitely trying to tell myself that nothing is impossible, just requires a lot of hard work and persistence.

What do you guys think about my decision / plan. To make my commitment, I've already purchased Jeff's Nina CPA Study Guide (Full Set) & Jeff's Ninja Flashcard (Full Set). I couldn't pass it up with the 48% discount haha. I will also be going with the Yaeger review study guide in a couple of weeks. Wish me luck! I'll definitely keep everyone up to date if anything happens.

[jomarie]

Good Luck Mike!!

Started sitting in May 2002, on and off. But since 2008 I've been nonstop and my scores are....
AUD - 39, 48, 56, 65, 68, 73, 76!!! (Finally passed in Oct 2011!!!) Becker, NINJA, & Wiley
REG - 75 (Lost Credit) 72, 68, 73, 75 (Passed again in Aug 2011) Becker, NINJA, & Wiley
FAR - 65, 68, 75 (Lost Credit) 68, 73, 73, 80 (Passed again in May 2012) Roger, NINJA, & Wiley
BEC - 65, 68, 71, 72, 72, 71, 76 (Lost Credit)- 70, 76!!!! I AM DONE!!! - Roger, NINJA, & Wiley
After 10 long years of studying, I AM DONE!!!! Finally a Licensed CPA in the State of New York!!

[Anonymous]

Sounds like a great plan mike! Good luck!

If you end up going to grad school, consider getting an MBA degree instead of the MAcc. Imagine what you can do with a CPA and an MBA!!

[mike_terror]

Thanks everyone.

@CalCPASoon, obtaining the MBA is definitely one of my long term goals in the future. But I hear a lot of people saying that it requires actual work experience, so I think this is something I'll put off until all my current problems get cleared up and I get some real experience first haha. By the way, how is your CPA studying coming along? Have you sat for your first section yet?

[Anonymous]

Haha, Im studying for FAR right now! Im sitting for FAR on 8/20 and AUD on 8/31. I passed AUD back in 2009 (lost credit) and BEC (2/11), took REG last month, (I felt ok about it, not great, but ok). I started sitting for the CPA right after I graduated from undergrad. When I first started, I was working full time in public accounting and full time in a MAcc program. It was HELL!! and to be honest, my CPA progress was virtually non-existant. I passed AUD, but then it was more than a year before I sat for my next section. After I graduated with my MAcc in 2010, I got out of public accounting and got a job in the private sector. Now Im back to focusing on the CPA again, and hoping to pass all sections this year.

Im using Wiley, Ninja, and Gleim test bank. I tend to zone out on video lectures, so Becker and Yaeger wouldnt really work for me. 🙂

btw, not all MBA programs require work experience 😉

[Author]

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