[ThorCPA]

I was laid off last week and would greatly appreciate advice. A little background about myself. I attended a top 50 college, did not have good grades and graduated with a 2.9 GPA. Upon graduation, I worked at a small CPA firm for a year preparing partnership, s-corp and individual tax returns. Then I received an offer from a top 20 firm and worked there on the Tax side, preparing the same type of returns for about a year. Last week, unexpectedly I was laid off. HR told me that the firm was overstaffed and needed to cut payroll and relieved many others as well.

At the end of last week I sat for my first part of the exam (FAR) and felt it was very difficult. At this point I am unsure whether to start interviewing or pass all parts of the exam before the changes go into affect in 2017. A buddy of mine who is a manager at a different firm has advised me to start interviewing ASAP. He believes if I take time off to pass the exams and tell interviewers that I left my previous firm to pass before the exam changes, they will think I am unable to handle work and my personal life at the same time. Does anyone agree with his view?

Also, I would like to interview at Big Four, but he told me there is no chance they will consider me due to my GPA. Additionally, he said even if I pass the CPA, it will not make a difference and they will not be interested in me. Anyone believe this is true or have similar experience to my situation?

Would greatly appreciate any advice!

[Anonymous]

I was laid off and I find that the longer you wait the harder it is to get a job. I am often asked about my unemployment gap and no matter what they don't consider me. If you want to take time off it cant be more than two months really.

[Missy]

It's not one or the other, you look for a job spending approx 40 hours per week looking, and study for the exams 20-25 hours per week.

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

[Credit Revenue]

Why in the world would anyone live life scared of a job market? If you have the money to take off and pass the exams and that's what you want to do then do it. Really only you know how strong you are at interviewing and how much money and time you will have before you will need to work again for monetary reasons. I am not advising you take off, but fear of the job market is a ridiculous way to live. I think taking 6 months off and having the exams passed will benefit your career immensely in the long run. If someone is focused on ONE resume gap then they are probably jerks you wouldn't want to work for anyways. Life happens to the best of people. I would respect someone more who took a little time handle a family matter than a dead beat dad who picks career over family. Of course there is no way to determine these facts from a resume. Without knowing more I can't give a final answer, but I wouldn't make it based on fear either way. I would think the CPA designation would carry more weight than continuing to do basic tax returns in the long run. How old is your buddy? Does he have his CPA?

A - 79 expires 4/30/16 need a pass on REG
B - 78
F - 80
R - 83!!! Can live again!

[livealittle]

what mla11692 said.

employment gap is VERY difficult to overcome. and it's easier to find a job if you already have one. start interviewing ASAP and get hired at an accounting job somewhere. Then, look for your “dream job”

BEC - 8/8/16
REG - 66, 77
AUD - 81
FAR - 9/8/16

[monikernc]

if you have a few years of experience take your GPA off your resume. people are laid off from jobs everyday in this country. and people prepare for the exam while working full time. you can do both. update your resume. think about what you want your next job to be and start looking. if you want big4 go for it. i think you have a chance to get it. use the time to search wisely and study efficiently. i don't know who your friend is or what he/she thinks he/she knows but you have to discover what life has to offer and not let fear stand in your way.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[Anonymous]

If you are taking time off to complete the exam, better make sure you pass it or accomplish something during your time that you are unemployed or make something up to show you were not just a bum/failure.

[tmacpa]

How did you leave off with the small firm? You can maybe go back to work for them. Plenty of people leave for a new job and like their first job better.

[sancasuki]

The good thing is that you can get unemployment while studying for the exams now.

[ThorCPA]

Thanks for the responses. I filed for unemployment so that is taken care of. I left my first firm, the small place on good terms but the salary was very low – not considering it at this point. Taking off 6 months is a non issue for me, I am single and still live at home in my mid 20's – very minimal expenses. In terms of the job search, I know two partners at two of the big four, a partner at a top 10 and a senior manager at another top 10 – hopefully I should be covered.with getting an interview. To this point I have about two years experience. Only issues are my GPA and how to respond why did you leave your previous firm. Would a hiring firm immediately disregard me if I told them I was laid off?

[monikernc]

do not offer your gpa unless asked about it. it should not be on your resume anymore as your experience speaks more to ability. as for being laid off after tax season ended, that is not uncommon. your ability to claim unemployment, once those payments start, show you were let go without cause. it was a business decision made by the firm and your were junior enough to be let go. if you learned anything while working there it was a valuable experience and you want to continue in public accounting.
you have a lot going for you so find confidence in your positives and don't let the past hold you back.
shine in the interviews and get the job you want while taking the exams. and be nice to your parents. thank them everyday.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[ThorCPA]

monikernc – Thank you very much for your advice. It makes feel better about my situation.

[monikernc]

don't thank me. thank your mom and dad. you are lucky to have such love and support when you need it.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[ThorCPA]

Your right

[monikernc]

good luck! i am sure it will all turn out fine.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[ThorCPA]

Thanks, hope so!

[Author]

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