49 yes old-need encouragement!! - Page 3

Having those 3 letters behind your name does open up more avenues than if you don't!! It is too bad though that the exam has a reputation for being strictly “for public accounting” or “only good if you're working in public/B4 and want to move up”. It's not true. I've seen job ads galore that say “Preference will be given to those who have CPA, CIA, or any professional certification or advanced degree such as PhD or JD.” And these jobs are in private. So that's what I personally am counting on. IF I can ever pass one of these stupid things LOLZ

On average CPAs make 10% more (some make significantly more). Why waste time pursueing something that will have limited benefits? You don't want public or big corporate. So what's the point? As someone who recently passed, I can tell you first hand that your happiness level doesn't increase. Your life doesn't just change for the better. It's only a big deal until you pass then you realize your still that same person. If there is something that isn't right in ones life, getting a CPA won't fill that void.

Never worked a single day in public or big corporate. Making double what I was the year I earned my license. Not sure where the notion came from that it's only beneficial with public experience but that's inaccurate. Let's do some really quick and dirty math here ignoring compounding: even at only 10% more for being licensed x 12 more years in the workforce is about 117k-ish. Subtract about 2500 for exam fees and study materials leaves 114,500. If you studied about 600 hours total its like earning $190/hr for the time you spent. I'm cool with that return on the low end.

I didn't say I wasn't happy and I'm sorry if all your looking for is a cheerleader or a pat on the back. Fact of the matter is that the CPA should be looked at as an investment and in my opinion with what you've said are your goals, I think it's a bad investment. But you want this for yourself, so my opionion or no one else's should matter. Good luck, apologies if I sounded harsh. I know I would want someone o be honest with me as opposed to the opposite.

@Jeanoncc – there are people on here who are younger, who have not lived long enough to know what it is like for those of us who are in this process as older candidates.
You may not have seen the threads, but there have been a number of them started by cocky young studs who claim to pass the exams without studying hardly at all, or who claim that everyone who works
in private is a loser because they couldn't make it in public, or any number of similar things. The *big-time* naysayers (who probably aren't on these forums) are usually in public, they're 25 years old and passed all 4 in under a year, and seriously think that anyone who can't do the same does not deserve to succeed in the accounting world and needs to find another career. Needless to say, all we “older folks” can do is truck on through. It's a blessing really, whether anyone realizes it or not. There are so fricking many disgruntled associates out there who have worked in the accounting arena for 20+ years and now they're 45-50 years old and just mad at the world. Go onto Reddit sometime, you'll find them. They're an angry bunch. They've burned out, although they've reaped big financial rewards. They're stuck. They can't go any further and are bitter about it.
I've seen this a good number of times in the many jobs I've had. But – those of us who get into it later on will never likely have that burn-out. No, we don't have 30-35 years more in which to utilize the CPA license, but maybe we have 15-20 and that's good enough! I'm 41 now and quite frankly I am sure I will still be working 30 years from now if I'm still alive. My significant other is in healthcare administration (holds an MD, an MBA, and an MS) and has the same attitude as I do. Getting a CPA for personal fulfillment is not a bad investment. One of my friends is a paparazzi. She takes pictures at red carpet movie premieres and awards shows here in Hollywood. She got her CPA 20 years ago….and then she moved on.

If I was hiring you, I would look at your later-in-life CPA as a much bigger achievement than someone who got it at age 25. I hope you finish the process quickly and as painlessly as possible!

The cocky millenials will eventually grow up and get a hard dose of reality. It seems that a good number of them burn out in public accounting early on. From what I've seen, Big 4 is like a fraternity, and in order to move up within it, you have to not only have your CPA but other things too – and the main one is ass-kissing and willing to go along with the seniors and willingly do whatever they want you to, whether it's right or necessary or not. Many people tire of that, and many get fired if their performance reviews aren't stellar, whereas in private there isn't nearly as much pressure. It is too bad that the CPA credential is so tied to public, and is viewed as a networking tool more than anything else. Although, contrary to that popular belief, it isn't totally that way. I used to see the Big 4 reps at the many banking industry conferences I used to attend and talked to them occasionally. The people who survive there are definitely fitting of a certain stereotype. Like I say, public isn't for all of us.

@maxb – yeah, I'll do whatever I like and I regret that you checked the box too. But, that doesn't mean you necessarily have to pay any attention to it and come back onto a thread that you don't have any interest in. None of what I mentioned above was directed at you, so I don't know why you're even posting a reply to my comments. And the number of posts that I post is over a period of a year, when I joined. I usually come on here for a bit, post a bunch, and then don't post anything for a long while. I study as much as I need to at one time so I don't completely burn out.
Whether or not I used B4 and public interchangeably is pretty irrelevant. And no, I haven't worked in B4 but I've known enough people who have and have worked at companies that were audited by B4 so I know the routine and pretty much know how the whole process works inside and out. Yeah I know, “Stop hating on B4 and public” is what all the younggin's say. I don't hate them…I don't think anyone does, unless maybe they've worked for them and have had a bad experience.

@Jeanoncc – sorry that your thread kinda got momentarily highjacked here. But, I think almost everyone pretty well supported you and answered your questions.

I'm not quite as old as you, but I'm not fresh out of college either, heck, I didn't even start my bachelors until I was 27. I started studying for the CPA exam in 2009, trying to get grandfathered in, and life threw me some curve balls that took my attention away after one pass and one fail. I then decided to get my masters while working full time and then I resumed serious studying again in late 2015. I finally passed everything this spring. There were SO.MANY.TIMES I was CERTAIN I would NEVER be a CPA. It just felt too hard, I wasn't smart enough, studious enough, or whatever enough. But when I got that final passing score, I could have cried at how worth it it all was. I feel like perhaps I cherish it a bit more than I would have if I didn't have to work so darn hard at it. I'm not getting any automatic raises or bonus at work or any immediate financial gain, but I feel proud for sure. I know that at my job (in private) as I apply for promotions and am likely up against other CPAS, I am now competitive. I have a confidence in those interviews I didn't have before. While I can't point to any specific financial benefit at the moment, I believe it will come, and I will never regret finishing. Good luck to you!