[Scared-cpa]

I’ve always thought public = government organization.

In the accounting world, it seems to mean something different. Public = publicly traded company ONLY? Or does public mean publically traded and include government/NFP?

Can someone please clear this up for me because when I talk to people about public v. private who are not in the same field as I am, they say, “Why do you have to work for the government to get your experience hours?” Then I try to explain that public means publically traded and then they say, “Well why don’t you say publically traded instead of just public? Those are two different things.”

So can someone please set me straight on this issue. Please and thank you 🙂

[lou]

My 2 cents – If you dream of having a 150k+ income at some point in your life, go work in public and be a CPA – Is it possible other ways? Sure… but is it probable? In my eyes, no, its not, the world is changing as are the salaries – Those dream jobs your professors told you about that they worked at are few and far between and are going to go to people who are more qualified.

You may be a CPA, but when you go for a promotion, another company, etc. and you are asked difficult questions about your experience, you would have such a limited experience, thus making it difficult to be the best candidate vs. someone who's worked in public for 3-5 years.

Being a CPA and working in public is difficult, ie. time consuming and stressful – You don't have to work in the field to know this.. In my eyes, working in industry is a “i've put my time in now I wanna get paid” type of job… you are there for your expertise, not your work ethic IMO..

Being a CPA will always help, but I get the impression you feel like once you pass the CPA you will get that dream job you want because you have a piece of paper.

Without being negative or sounding like a troll – if you work in industry for 5 years and are a CPA (no other exp), but your peer didn't pass the test but does the same thing as you for the last 5 years, what differentiates you? You studied more, thats about it.

Do what you wanna do, but if you wanna be a CPA do CPA work, put in the time and reap the financial rewards throughout your career.

Just my 2cents as I am sure many will disagree – I'm 29, worked for a large corporation (not accounting focused) and realized thoose jobs arent all there cracked up to be.

[Scared-cpa]

Well I understand that I'm young and naive, having never worked a day in my life. The only knowledge I have is from college and this exam/forum, so I'm pretty blind. If my recruiter thinks I should do public for a couple years, I would be willing to do that. I'm more interested in seeing what real life accounting work is like as opposed to a specific form of accounting work at this point in time. I just want what is best for my future, so I'm all ears when it comes to seasoned professionals.

Would it be advisable to work part-time/intern before looking for a ‘real' job? I'm considering not working after I graduate until I finish these exams since I have that luxury right now. I just don't know if that time off would hurt my chances of getting a job or if interning part-time would be helpful?

[Missy]

I typed this out earlier this week but will say it again here. I've never worked in public and it didn't affect my career at all but that's in part because I prefer smaller companies. Larger companies prefer managers who have worked in audit because they can manage the young auditors who come to perform the annual audit. Often these auditors are still learning their profession and going through motions without even comprehending what they're looking at. So a corporation depends on their manager to be able to explain to a first year auditor why something appears here or there. It's good experience of course but not the golden ticket you read about. If you can do it, it's worthwhile but if not your career isn't a loss.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Scared-cpa]

I have never/don't expect to get a $150K job. Ever. Not in this field and not in the city I will be working in. My recruiter told me staff accountants starting out make no less than $45,000 a year. However, I don't expect to ever make more than $70-80K even when I'm experienced. I don't have a ‘dream job' in mind in terms of salary, simply that I *think* I would like to work in cost accounting. Granted, that assumption is from learning cost accounting and really enjoying it.

[CPA788]

Completely agree with @lou. Well said. and @mla11692

BEC - 74, 77
FAR - 72, 71 (retake 7/29)
REG - 69
AUD - Q4 '16

CA Candidate

[lou]

Generally speaking large regional and big 4 firms recruit about 12-18 months out for FT jobs and 6-12 months our for Internships – Do what you think best – It sounds like you don't need a recruiter, but that you need to make up your mind on the career you want.

edit: additionally – everyones different, but don't settle for 70/80k in the future – entry level at BIG4 & even half way decent sized firms are at that by year 2/3 in decent cost of living places…

Strive to make the most amount of money possible in your life – you will thank yourself later…

It sounds like your school didn't really help you prepare for whats next – I would reccomend you get your resume out to some local/big firms for internships/fulltime jobs/etc – and see what its like throughout the process…

[Anonymous]

Hey what's wrong with 70-80K a year? I'd KILL to get that amount of money! I know CPAs who don't get that, who have good jobs. Or at least they sound like they're good!
I also know of CPAs who earn six figures a year who do *not* deserve that amount of money. Maybe that's what you're referring to. Either way, the government needs to take out
way more in taxes for those high earners, but that's another story.

[lou]

70k isn't a lot in most areas of the country, especially for professional services like accounting, let a lone other fields.

If you think people who make 100k need to be taxed to hell, then Idk what to tell you. Are you still a student?

[Missy]

70-100k sounds like a lot but once you've got a mortgage, couple of cars, and kids who play travel sports or a 17 year old daughter going to a prom you realize it doesn't go as far as you'd imagine lol. Seriously this prom will cost mom and dad well over $1k when all is said and done.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[gigabyte2001]

$150k salary in industry isn't necessarily unrealistic depending on what part of the country you're in. I'm in Oklahoma where salaries range 90-95% of the national average. I don't make $150k as the Controller, but my boss does. In a larger market, larger company, or more expensive area my job would easily pay $150k.

B - 11/11/16
A - 4/16/16 87!!
R - 2/17/17
F - 7/26/16 - Waiting for 8/23

[Scared-cpa]

I live in the very impoverished hills of Kentucky, so $50,000 is a lot for most people in this region! Where I currently live and was raised, houses that cost $300K in most places are $150 here. You can get a very nice house here for $300 and any type of house of your choosing for $500-750K. The cost of living is cheap. Probably because there's not much here! In the town where I live, we have a Wal-Mart, couple Dollar Stores, and a small shopping mart. The population is around 5,000 and a lot of people live in hollers so yeah…if you tell someone around here you're making $80,000 a year, their eyes will bug out of their head.

Edit: As a disclaimer, I may live in the Appalachian Mountains of Eastern Kentucky, but there are a few things to clear up. Yes, most of us have all our teeth. No, we do not spend our days on the front porch picking a banjo. Yes, I have shoes. No, I do not have an outhouse. And no, my mother is not also my sister.

[lou]

Kinda my point @mla11692 – I worked for a retail company as a corporate investigator for 5+ years and was underpaid in my eyes at 75k+ a year compared to the amount of work I did and the ammount of expenses a person has once they have a sustainable income (which is not living above your means, but having a normal life we all strive to have ie. not worrying if you got takeout for lunch twice last week).

to the OP – Why not relocate to a city where opportunities are plentiful? Don't necessiarly need to move across country, but an hour or two away may open a lot of doors.

In terms of “private or industry” jobs – 150k isn't out the of the question, but the path to get there is going to take a lot more luck and bounces your way (in addition to timing) then it would be if you just sucked it up for 5 years and made manager IMO.

They don't just make anyone the controller of billion dollar companies (hint. almost every CFO in the country for a fortune 500 company is a big4 alum).

[Scared-cpa]

I'm moving to Lexington, KY which is two hours away. Accounting jobs there are plentiful. But my plan was to work here about a year to save money to move. I've said it on this forum before but I will say it again…my dad is elderly with severe dementia and Parkinson's disease so he is bed bound and I'm at home taking care of him while my mom works. She has to work for his insurance so I hate to just up and leave her without notice so staying here a year should help her have time to get on her feet, as well. But I don't expect to find a job here for more than 40-45K a year my first year. I also don't know how many companies will be interested in hiring me if they know after a year or so of being with them I will be moving.

[lou]

Look out for #1 – No one needs to know what your life plan is – You're committed to the job you are at for however long you decide to stay there. While your situation is unique, you need to do what you think is best.

In my opinion assuming you have good grades – start getting resumes out there to large regional and big firms – the hiring/starting date is a long ways away.. They'll be hiring for Jan 2018 start dates in the next 30-45 days at most big4 firms… Just a suggestion – I utilized the top 100 firms on accountingtoday to get up to date on whos big/small and what type of work they do – I then hammered home applications to anyone and everyone that had a focus in audit.

edit:

Heres a quick google search..

The Lane List — March 2014: Largest CPA firms

Start getting your resume out – Generally speaking you can address your CV/resume looking for a Jan 18 start date (assuming you're done with school in May) – bigger firms = 150 is a requirement.

[Scared-cpa]

What type of information is best to have on a resume for someone like myself who has never actually worked? I have always been a full-time student and found that to be a blessing until now when I'm afraid employers will see lack of experience as a downfall. I graduated cum laude as an undergrad and currently hold a 4.0 with my MBA degree. But I don't have any unique or special characteristics that set me apart. And there's not much to say except for my school, major, and grade.

And thanks for the tip on applying now, I was unaware it took that long to get in. I knew there was a long process with multiple interviews but I never knew it took THAT long.

[Author]

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