Question for CPAs

[knicks703]

Hey all, I'm a second year college student who really needs to make up his mind on what he is majoring in. At the time, I could still pull off a major in math, econ, accounting, or financial engineering. One thing that would suck about accounting is that I feel like I would have wasted all the work I put into Calc 3 and Linear Algebra.

Accounting is kind of appealing because our professors push it so hard. My school (Suny Binghamton) is apparently ranked pretty high for accounting, and the Big 4 recruit heavily at our school. I took financial accounting and enjoyed it a great deal.

On the other hand, I applied for all these summer programs with the Big 4 this year and got rejected from every one. I was only a Sophomore, but it was a little frustrating. If you can't get a job with the Big 4, is it even worth it to be an accountant?

I've read online that recruiters from the Big 4 can be really shallow. All the old students who come back and talk to us have all their hair. I'm 20, a NW3 and buzz my hair currently. Not quite sly. Is there a lot of bald discrimination in the accounting world?

I'm also a little worried about the salaries I see online. I'm relatively bright, and definitely a hard worker. Like anyone else, I wan't to make decent money. I really have no aspirations to be crazy wealthy, but I just want to be able to provide for a family. Is this possible for an accountant? I thought the job was supposed to professional, but when I look online, they make the same salaries as paralegals.

http://www.payscale.com/research/US/Job=Accountant/Salary
http://www.payscale.com/research/US/Job=Paralegal/Salary

I realize there are a lot of people who would love to make those salaries, but I guess I just want to make decisions now that will lead to a relatively greater income down the line. Not that money is the only thing on my mind.

Thanks for reading through this convoluted post. I love my sly brothers.

[SLYinKC]

Buddy, I am an accountant and have been a CPA since 1993.  It is by no means a glamorous profession.  You can make decent or even good money if you are lucky and work really hard.....not unlike alot of other professions.

My advice is to find something that you can be passionate about.  I recently heard that part of your joy and passion for a job comes from doing something well.  So make sure that this is something that you can see yourself doing for a long time and it can be a great career move.  Just don't look at the money factor alone. 

Feel free to pm me if you have any questions.

Rick

[Razor X]

If you can't get a job with the Big 4, is it even worth it to be an accountant?

Yes.

I've read online that recruiters from the Big 4 can be really shallow. All the old students who come back and talk to us have all their hair. I'm 20, a NW3 and buzz my hair currently. Not quite sly. Is there a lot of bald discrimination in the accounting world?

No.  Accountants go bald just like the rest of the population.

I'm also a little worried about the salaries I see online. I'm relatively bright, and definitely a hard worker. Like anyone else, I wan't to make decent money. I really have no aspirations to be crazy wealthy, but I just want to be able to provide for a family. Is this possible for an accountant? I thought the job was supposed to professional, but when I look online, they make the same salaries as paralegals.

http://www.payscale.com/research/US/Job=Accountant/Salary
http://www.payscale.com/research/US/Job=Paralegal/Salary

I realize there are a lot of people who would love to make those salaries, but I guess I just want to make decisions now that will lead to a relatively greater income down the line. Not that money is the only thing on my mind.

Thanks for reading through this convoluted post. I love my sly brothers.

The salaries listed on that site look very low to me, especially for the New York area.  It's not clear to me how many years of experience the salaries quoted are for -- and I'm too tired right now to really look into it in any great detail but suffice it to say that you can make much more than what they are showing in the accounting profession.

[clipped]

CPA here also. I agree with Sly in KC - do something you have passion for and you will do well. 

Don't be too tough on yourself about not getting a Big4 internship after sophomore year.  The Big4 have cut back the past 2 years.  My former firm - I just retired from one of the Big4 - really only offered internships to juniors and the internship really was a "several month long interview".  In the past, many junior year interns would receive offers at the end of the internship for after they graduated.  So, focus on the internships for next year, and do network with the firms when they come on campus to visit with the undergraduates. Remember that every "apparent social interaction" that the Big4 do on campus with undergraduates is in fact an "interview".  The Big 4 are looking you over everytime they meet you and trying to figure out which undergrads they are targeting for internships in the junior year, because that gives them the edge on who will accept their offer after the internship.  Also, the Big4 recruiters network with the professors, so if you are interetsted in a Big4 career or internship, make sure you the right professors know your career goals, so they can say good things about you.  Also, while having good grades cannot be underestimated and is a key criteria, the Big4 are looking for well rounded people who have leadership potential, among their peers and in other areas of their lives.  So make sure you present the full picture of yourself: whether it be sports, community involvement, volunteer work, other on and off-campus activities, other work experience, travel, hobbies, etc.  So, seek some feedback as to why you did not get an internship offer and try to work on those attributes.

Finally, about your hair.  I think as long as you are well groomed, are "comfortable in your own skin" and have all the attributes that any firm is looking for, your hair should not be a factor.  I switched from a  businessman's cut to a #1 the last 6 years as a  result of natural progression of MPB. It was not an issue. One senior accountant (i.e 4 years out of college) who worked for me who went from a short haircut, to a zero blade to shaved over a several month period two years ago. He's still there, just got promoted.  So, it should not be an issue ...just like anywhere else. 

[Barry]

I am a CPA. I was in P.A. for six years right out of school. I haven't practiced accounting now for about 200 years. The six years was invaluable to the career paths I drove on afterwords.

[Razor X]

I haven't practiced accounting now for about 200 years.

OK, I know you have to be better with numbers than that.