Category: Career Center

The Career Center is sponsored by Accountingfly, the profession’s leading remote recruiter. We were into remote work before it was cool.

How Can a Prospective Intern Relate to a Partner During an Interview?

Welcome to the International Women’s Day edition of Accounting Career Emergencies. In today’s edition, an accounting major at UI and prospective Big 4 intern is having trouble relating to partners in his interviews. Can we help this future coffee gopher come up with some better ice-breakers?

Recently been fired? Need a contingency plan? Worried about backlash? Email us at advice@goingconcern.comSigh:

Hi GC,

I am a junior majoring in accounting at the University of Illinois at Urbana Champaign set to graduate in May 2012. I am in the process of applying to our school’s MAS program to get my 150 hours to sit for the CPA in the state of New York. Last fall, I had an office visit with PwC in NYC for their Summer 2011 Audit Intern. I was not given the job. A few weeks ago, I interviewed for Deloitte for their Winter 2012 Audit internship in NYC as well. I moved onto the second round but my second round interview was a 30 minute phone call from a partner. I thought the interview went well with him but I was not given an offer. I am now 0/2 in second round interviews with the Big 4. What am I doing wrong? I read somewhere about the facial hair article that partners generally do not come into contact with associates much and I am only interviewing for an internship. How can I connect with a partner who seems disinterested in interviewing college kids? I connect easier with HR and managers that do first round campus interviews but it’s hard for me to establish rapport with a partner. I do have another office visit scheduled in mid April for NYC EY-FSO so maybe the third second round interview will be the charm. These are the questions I usually ask managers and partners:

• Where did you see yourself 5, 10 years down the road when you first started?
• Did you take it step by step or did you know you wanted to become a partner?
• What has been your most rewarding moment or biggest accomplishment here?
• What are your plans for the next 5 years and what about the firm’s goals?

[Thanks!]

Dear Intern with no Ice Breakers,

Rather than complain about your lack of partner relations, you should simply be thankful that you’re not a grad assistant at UI. Since you didn’t ask for perspective I’ll let your lack of gratitude slide and address your query directly. Here goes.

You listed four questions that you ask of managers and partners and frankly, they’re terrible. They are trite, predictable and shallow. Plus they’re nearly identical, as they all are related career path. There are other things to consider, after all. Partners and managers want to know that you’ve really got something going on upstairs, not if you’ve read all the listicles on the Internet that have job interview tips. Also, partners are human (well, most of them) so asking them strictly business questions make you seem stiff and impersonal. If you can demonstrate an ability to relate a partner on a personal level, he/she will see you as a team player and someone who has interests outside accounting. You do have interests outside accounting, don’t you?

If you don’t have interests outside accounting: A) GET SOME and B) ask a question that isn’t about career path. What about work-life balance or volunteer opportunities sponsored by the firm or studying for the CPA exam and working OR what he/she likes best about their job? ANYTHING other than re-asking the question you just asked.

So next time you go into an interview and it comes time to ask a partner or manager questions, ask a diverse set of questions. If your questions are one a single track, your interviewer will think your brain is on a single track.

What Exit Opportunities Exist for a Big 4 Transaction Services Professional?

Welcome to the maybe-we-should-start-pointing-out-who-really-isn’t-winning edition of Accounting Career Emergencies. In today’s edition, a future advisory professional wants to know what kind of exit opportunities he’ll have when he’s had his fill of Big 4.

Need some career advice? Concerned that you’re being unfairly portrayed by someone? Have you recently found a mistake at work and aren’t handling it well? Email us at advice@goingconcern.com and we’ll, at very a tie score.

Onward:

I will be starting at a Big 4 firm in TS this fall. I have seen posts and comments on GC primarily about KPMG’s TS group, and commenters mention a “mass exodus” from TS.

I was interested to know what the exit opps are for people in TS? I have been searching around banking blogs and it seems that TS is not held in high regard in I-banking, so what offers are they receiving?

Sincerely,

Interested Viewer

Dear Interested Viewer,

The advisory space isn’t my strong suit but I’ll take a stab. You’re starting with a “Big 4” but then mention KPMG so I’m not exactly sure where you’re ending up so I’ll keep things fairly general. All of the Big 4 have various services within their TS practices including due diligence in various forms, restructuring, accounting advisory and valuation among others. A common exit opportunity for many in Big 4 TS people is to go to…wait for it…another Big 4 firm. None of these firms have a monopoly on the services offered so if you’ve heard good things about Deloitte as opposed to your living hell at PwC, you may jump at the opportunity to join a rival firm. And we know how the firms like to poach from each other, don’t we?

If that’s not of interest to you, the top consulting shops like McKinsey, Bain & Co., Boston Consulting et al. (check out Vault for their list of the top firms) are a possibility but in reality, not a very good one. These firms like their people with smarts – frightening smarts – and Ivy League degreed. If you’ve got both, you probably already work at one of the best firms. If you’re lucky enough to have one of those two, you might have a chance. If you’ve got neither, than you have virtually have no chance.

You mention I-Banking and again, the odds are against you here if you want to work at the top firms, for the same reasons as we mentioned above. Some more realistic options include due diligence, acquisitions or analysis work for a private equity or hedge fund shop or working in the finance group of a firm with M&A aspirations or that needs other complex transactional analysis.

The other option is that you work for awhile, get an MBA and then try to land the BSD job at McKinsey, Goldman or wherever. Of course hitting the big time after going to a prestigious B-school doesn’t mean your dreams of rainmaking are a lock, so it’s a big risk but obviously many have taken this road and made a decent run.

So, there you have it, Interested Viewer: some ideas, at the very least. Any Big 4 TS types out there with some first-hand accounts of the comings and goings are invited to weigh in at this time. I’ve got to get caught up on the #winning Twitter feed.

Do I Stay in Public Accounting Until Manager? Part XXXIII

Welcome to but-what-does-Emilio-think? edition of Accounting Career Emergencies. In today’s edition we revisit the age-old debate of a senior associate wondering if they should stick with their firm until they get the bump to manager. It’s been awhile since I’ve addressed this, so it’s about time we went for another go-round.

Getting bad career advice? Trying to patch things up with the boss? Trying to land some goddesses at your firm? Email us at advice@goingconcern.com and we’ll get you back to WINNING.

Back to our SA:

Hey Going Concern,

I’m an S2 working for a 2nd tier accounting firm. I’m contemplating looking for a new job once this busy season is over, but am also considering working 1 more year and making manager before moving on. What do you think? Is it worth leaving now when I’m so close to manager or should I stick it out 1 more year? Will I have more/less or better/worse job opportunities after I make manager?

Thanks.


Dear Maybe Manager,

As I alluded, your plight is common amongst many in the world of public accounting. And as you can imagine, there are two divergent camps in this debate: those who think you should stay and those who think you should jump ship. I’ll do my best to tackle both arguments, running down the pros of each first.

PROS

Stay until promoted – Staying until manager means you get a title, a nice bump in salary (historically) and if you’re lucky, a little bonus. You’ve either mastered the art of navigating the political waters of your firm or you’re such a superstar at your job that TPTB had no choice but to recognize your talents with a promotion. Now that you’ve reached this crucial level in your firm, clients, recruiters and others view you slightly differently. You’ve got experience (obviously), management skills (presumably), are smarter than the average accountant (sometimes a BIG assumption). This will – right or wrong – give you the opportunity to get into similar more senior positions when you are ready to leave public.

Leaving prior to promotion – Jumping ship now allows you to move into a company where you’ll get the opportunity to learn what it’s like to be on the client side of the equation. Whether you’ll actually interact with your public counterparts will be determined by what kind of job you take (that may be a good thing). Regardless, you’ll learn a lot in your new job that you won’t in a public firm. This is ideal if you see yourself working in-house somewhere as opposed to making a career in public.

CONS

Stay until promoted – Simply put: managers have it bad in public accounting. They get shit from partners; they get shit from seniors; they get shit from staff; they get shit from clients. Managers are swimming in shit. As a senior, you definitely have to deal with a lot of the same people but the pressure from partners and clients, as a manger is different. You’re expected to be able to deal with all of it well. Mediocrity isn’t really an option. The only way to get around your mediocrity is to get really, really, really good at throwing people under the bus. If you’ve found yourself in that situation, you can probably count the people who think you’re a “good manager” on one hand and none of them work with you. Also as a manager, you’re so caught up managing, there’s very little time leftover for professional development. Granted, you’ll have the opportunity to learn more things but will you want to? You’re already overweight or severely sleep-deprived. Are you really the type to spend your precious spare time boning up on the latest developments in accounting rules or tax law? Probably not but the catch is, you’re expected to. Lastly, once you move outside the firm, your perspectives on audit/tax/consulting will largely be formulated and lots of employers are looking for people that still a tad impressionable. Prospective employers aren’t crazy about 30-something know-it-alls that just want a CFO/controller title and a salary.

Leaving prior to promotion – The biggest risk here is that you’ll end up making a move that feels lateral. You may get a nice bump in salary but you’ll probably feel like you’re still in the same spot on the pecking order. Most SAs – regardless of practice – have self-inflated their own professional value and finding out that your experience is pretty unexceptional can be a shock. Sure, there are some opportunities for vertical move when you leave public but the odds are against you.

So there you have it. And to answer your question directly – I’m a believer that you’ll have more and better career opportunities if you leave your firm prior to being promoted to manager. Your experience will be more diverse, you’re hopefully still open to seeing how other companies do things and your brain won’t be watered down with “managing” so much. That will come later.

I’m sure I missed some things, so jump in people. I still haven’t watch the GMA interview.

The AICPA Is Giving Future Accounting Rockstars a Shot at Free Money

Let’s be serious for a moment, who doesn’t want free money? And if you could also advance your own knowledge base, further your career and benefit the profession in the process, why wouldn’t you take it?

The fact that we are facing a shortage of accounting faculty to teach future beancounters is not newsworthy as the AICPA is now in its fourth year of the Accounting Doctoral Scholars program. Launched in July of 2008, ADS provides funding for four years for up to 30 new candidates each year, incubating a total of 120 newly educated PhDs in audit and tax. Thirty candidates with an average GMAT of 718 were selected for funding in 2009 and 2010, with twenty-seven candidates placed in 2009 and 29 in 2010. If you are interested in taking advantage of some $17 miS will begin providing information on applying for fall 2012 in May of this year, stay tuned to their website for more details.

But we aren’t all cut out to be accounting professors. Many of you know this because you learned accounting from folks who had no business teaching. Did you know the AICPA also provides scholarships to minorities, those with little accounting education seeking to get into the industry and outstanding accounting students with a 3.0 GPA or better?


From This Way to CPA, we have four major scholarship programs and deadlines are fast approaching so you better get it together if you want some of this. Each scholarship has different requirements so please read them carefully before applying and you must be an AICPA student affiliate member to qualify. If you haven’t yet joined, you may do so here.

AICPA Accounting Scholars Leadership Workshop

Held June 2-4, 2011 at the Washington Duke Inn & Golf Club in Durham, NC on the Duke University campus, the AICPA Accounting Scholars Leadership Workshop is an annual invitational program for minority accounting students who plan to pursue the CPA designation. This event aims to strengthen students’ professional skills and understanding of the limitless possibilities and benefits of earning the CPA credential.

Participants will gain confidences and an enhanced understanding of the varied accounting career paths to help them make better career decisions after graduation. An all-expenses paid event, the AICPA covers the cost of student attendees’ transportation, hotel accommodation and meals.

Deadline to apply:
Fri, May 6 2011

The AICPA John L. Carey Scholarship

The John L. Carey Scholarship was established by members of the accounting profession to honor John Carey upon his retirement from the AICPA in 1969. During his 40-year tenure at the AICPA, Mr. Carey served as administrative vice president; executive director; and as editor and publisher of the Journal of Accountancy. Mr. Carey dedicated his entire career to serving the accounting profession and made it a priority to encourage outstanding students to become CPAs.

Recipients receive $5,000 for one year. Scholarship aid may be used only for the payment of expenses that directly relate to obtaining an accounting education (e.g.; tuition, fees, room and board, and/or books and materials only).

Deadline to apply:
Fri, Apr 1 2011

AICPA Scholarship for Minority Accounting Students

The AICPA Scholarship for Minority Accounting Students provides financial awards to outstanding minority students to encourage their pursuit of accounting as a major and their ultimate entry into the profession. Scholarship funding is provided by the AICPA Foundation, with contributions from the New Jersey Society of CPAs and Robert Half International.

The AICPA Minority Scholarship was created in 1969 with the purpose to increase the representation of ethnically diverse CPA professionals. For over four decades, this program has provided over $14.6 million in scholarships to over 8,000 accounting scholars.

Recipients receive individual awards of $3,000 per academic year.

Deadline to apply:
Fri, Apr 1 2011

AICPA/Accountemps Student Scholarship

The AICPA/Accountemps Student Scholarship program provides financial assistance to outstanding accounting students who demonstrate potential to become leaders in the CPA profession.

Recipients receive $2,500 for one year.

Deadline to apply:
Fri, Apr 1 2011

You’re welcome!

Another Future Big 4 Associate Wants Advice on How to Best Ruin Their Life Prior to Starting Work

Welcome to the cancel-your-holiday-in-Libya edition of Accounting Career Emergencies. In today’s edition, another Fall 2011 Big 4 associate would like to nail down a certification in addition to the CPA before starting work. Can I keep my head from exploding long enough to formulate a coherent response?

Caught in a ethical jam at work? Need a shredding service-provider that also has a knack of taking care of “problems”? Want to challenge your firm’s dress code but need an objective opinion? Email us at advice@goingconcern.com and we’ll make like Anna Wintour.

Back to our overachiever du jour:

Caleb,

I am about to pass the CPA exam and have 8 months until I begin at one of the “Big Four” firms in Florida. I am excited to start at the firm as it was my first choice however, I am not certain I will be in public accounting for the long run (like most people). My question is, being uncertain about my career path, what other certification should I obtain before I start in 8 months?

I have considered the CISA, CFE, CMA, CFA, Six Sigma but, I am not sure as I am not certain of my long term path. I want something that will give me an edge if I leave the firm and/or switch careers.

What certification would you recommend?

Any suggestions are helpful.

Dear Overachiever Du Jour,

After murdering the remainder of Stranahan’s in the house, I’m better prepared to answer your query.

I appreciate your ambition and we definitely think that obtaining additional certifications is a good idea for those that move on from public accounting but I fail to see how this benefits you now before you have an inkling of what kind of career you want. HOWEVER, I’m here to help sort you out as best I can, so I’ve put aside my judgments for two.

Based on your “considerations” listed, you seem to have a case of accounting certification ADHD which is fine but there’s no clear pattern as to what your interests are. I’m not going to recommend you do something just because it may be a hot area (forensics) or in-demand (information systems) but I am going to recommend you rank these certifications based on your level interest. Want to eventually be a CFO? Then go for the CMA. Want to pile up the financial reporting bodies? Get the CFE. You get the point. The important thing is to pursue a certification you find interesting rather than one that will just puts a few letters behind your name that may (but probably not) impress someone.

But really, do you want to spend the summer prior to starting work studying for a test? Get the band back together, take a trip, something.

How Long Does It Take to Climb the Ladder at Ernst & Young?

Welcome to the where-the-hell-is-Bahrain? edition of Accounting Career Emergencies. In today’s edition, a future E&Y tax associate wants the lowdown on the black and yellow ladder. How high are these rungs, anyway?

Caught in a career conundrum? Have a co-worker that keeps swiping your red Swingline? Want to put the moves on a fellow auditor in the copy room? Email us at advice@goingconcern.com and we’ll help you avoid anything that involves in a knuckle.

Back to our girl on the partner track:

Hi,

I will be starting in the tax dept of a Big Four soon.

How long would it take to move up the tax ladder? (Yes, yes I know your response will be to start first before I start thinking about promotions… But I am thinking ahead…)

What is the minimum number of years typically required at each level? Are exceptions ever made? What goes into promotion decisions? How long would it take to get to the partner/director level? Is the promotion criteria generally standard across all Big Four or is there some variation?

Thanks,
Ms. Thinking Ahead

Dear Ms TA,

You’re quite the eager….errr, go-getter aren’t you? That’s good, I like my accountants ambitious. We’re not intimately familiar with the ladder at E&Y but we’ll give it a go and let the bean gallery fill in the gaps.

Typically, you can expect to be an associate two to three years before being promoted to senior. Depending on the needs of your practice group and your performance, this could be shorter or longer. In order to get the bump to manager, you can expect another three years at a minimum, again, subject to the needs of your group and whether or not you’re impressing the pants off the brass. From there, you can expect at least two years at manager, another two to three as a senior manager and then, if you’re lucky and you have a good business case, TPTB might start looking at your for admittance to the partnership. Altogether, you’re looking at a bare minimum of nine years before you can even get a whiff of partner and twelve to fifteen is probably a more realistic time frame. There are exceptions of course but that’s more or less the timeline.

Because tax doesn’t have the same fee pressure as their audit counterparts the wait might not be as long but don’t forget, not just anyone gets into the partnership. You need to be a performer and be able to win new clients. The benefit of tax is that it has more diverse career paths available, so if you find discover that you’re a wizard at transfer pricing or M&A, you might see a quicker ascension.

This presupposes the fact that you obtain your CPA in a timely fashion as most tax practices will not promote you to manager without a CPA, a JD or EA. How about it black and yellow tax troops? Dispel with the gory details as necessary.

Busy Season Problem Du Jour: The Kleptomaniac Co-worker

Today’s round of minor irritations from our British sister from another mister:

Further to the “snorting employee” post, any ideas on how to deal with a colleague who goes into my desk drawers to get labels and paper clips and the like, when I am actually sitting at my desk?

They are a relatively new employee and I have been showing them some aspects of how to do their job. It is really my own fault for not stopping them when they started doing it, but now it really irritates me and I’m not sure of the most painless way to deal with it other than to just tell them to stop and use their own drawers! I hate any kind of confrontation, especially since we have to sit next to each other.

Any diplomatic ideas?

I don’t know about you all but diplomacy just doesn’t fly over here in States, so an accounting firm version of the Bush Doctrine seems to be the way to go. Let’s kick a few ideas around shall we?

When your fellow cube farmer comes digging around your drawer do you:

A) Allow them to find the item they need and walk back to their desk, wait five minutes, then proceed to their workspace and violently snatch said item off their desk/out of their hand?

B) Calmly get up with your beverage of choice in hand, walk over to the offender’s cube and pour the contents of your drinking receptacle on their computer?

C) Belch in their face?

D) Do a full spin in your aeron chair and crush their hand/wrist/lower arm in the drawer?

E) Your ideas

When Should a Future Auditor Mention to His Firm That He’s More Interested in Forensic Accounting?

Welcome to the dead-seven-Irish-guys-in-a-garage edition of Accounting Career Emergencies. In today’s edition, a future Big 4 auditor wants to get into forensics ASAP but is concerned about appearances. How should he broach?

Have a question about your career? Need a post-Valentine’s Day/busy season break-up plan? Want ideas for cheering up your co-workers? Email us at advice@goingconcern.comDear Caleb,

I’m starting with a Big 4 firm in October. I had an audit internship last summer where they spoke about all of the ‘flexibility’ within the firm. I was always more interested in the fraud/forensics side of accounting than audit; however, I felt that I had a better chance of getting an internship in audit due to the larger number of positions available. After taking a fraud course in my masters program this year, I confirmed my initial thought that I would much rather work in that field instead of audit.

How realistic is it to try to switch from audit to forensics within a Big 4 firm? How long should I wait until I ask about switching without burning any bridges? I feel like I already know about the normal downsides of a career in auditing, are there any unique differences (good or bad) from a career in forensics?

-Confused New Hire

Dear Confused,

We’re impressed. It was quite the sly move on your part, playing the numbers game. And per usual for a new associate, you’re thinking WAY ahead, which is fine but don’t forget you haven’t even set foot on hallowed Big 4 ground yet.

Regarding the “realistic” question, we’d venture that it falls somewhere in between “somewhat” and “not very” given the fact that your start date is months away. It’s closer to “not very” at this juncture because you have no work experience whatsoever. Forensics involves turning over lots of rocks and that simply takes time and it’s helpful if you have experience in another investigative career. Now, a switch is “somewhat realistic” for you because you know exactly what career path you’re interested in taking. You have many of your future colleagues (and some superiors) beat in this regard. To appropriately address this with your firm, discussing your interest in forensics with your career counselor and mentors is the best way to go. Simply asking about a transfer in your first year or two at the firm is coming on a little strong. Besides, a few years of auditing will serve your skills well as you prepare for a career in forensics.

As for pros and cons in forensics versus auditing, you’ve already discovered one advantage – the work is far more interesting. It’s also a specialized area, so it can be potentially more lucrative and is a unique skill set. As for disadvantages, forensics is a hot area right now and the groups are relatively small. The groups and demand for services may be growing but lots of people have are exploring this area and spots will fill up quick.

Another big disadvantage is that there’s an intangible quality that forensics experts have, that some people don’t and that is an inherent skeptical attitude and investigative intuition. Here’s what forensic expert Tracy Coenen told us last year:

It’s common for people to think that a good auditor makes a good forensic accountant, and that’s simply not the case. Some people have a gift for thinking outside the box and can get a gut feel for what’s wrong. Others only have a gift for reconciling numbers and using checklists. The [AICPA] survey addressed investigative intuition, but it didn’t even make it into the top five of core skills. I think that’s wrong on many levels.

In that same post, GC friend Sam Antar talked about having additional qualities:

An effective forensic accountant must have a pair of double iron clad balls and a triple thick skin. Prospective forensic accountants can count on making many enemies in the course of their work and must be unhinged by the retaliation that normally follows uncovering fraud and other misconduct. […] Effective forensic accountants must at least think like a scumbag to understand criminal behavior, techniques, and countermeasures.

So, in other words, you need to have raw talent and instincts. You may have wanted to be a professional baseball player when you were a kid but still couldn’t manage to hit a ball off a tee or catch a cold.

So to wrap it up, express interest in forensics but we don’t think you should come on too strong. If you do some time in auditing and perform well, you’ll give yourself a better chance of dipping a toe into a forensics group down the road. Good luck.

Will You Find Love This Busy Season?

The following post is republished from AccountingWEB, a source of accounting news, information, tips, tools, resources and insight — everything you need to help you prosper and enjoy the accounting profession.

Looking for love in all the wrong places? Many workers turn to the once taboo office pool in search of companionship, and the search appears to be paying off. More than a third of workers (37 percent) say they have dated someone they worked with over their career; 18 percent report dating co-workers at least twice in their career. Additionally, 30 percent report they went on to marry a person they dated in the office. This is according to CareerBuilder’s annual office romance survey of more than 3,900 workers. Of those who have dated in the workplace, one-in-ten say they have dated someone at work within the last year.

Some workers are dating those above them on the office ladder. When it comes to dating higher ups, women were more likely than men to date someone above them in their company’s hierarchy. One third of women said they have dated someone who holds a higher position in their organization; 20 percent of men report they have done the same.


“Workplace relationships no longer carry the stigma they once did, as 65 percent of workers said they aren’t keeping their romance a secret. However, it is the responsibility of the individuals to understand company policy and make sure they adhere to it,” said Rosemary Haefner, vice president of human resources at CareerBuilder. “Especially in this economy, workers are spending more time in the office, and the lines between working and socializing are being crossed. Workers need to keep it professional under all circumstances, though, to ensure that the quality of their work is not negatively impacted.”

Some workplace relationships may have their beginnings in current workplace crushes. Eight percent of workers currently work with someone whom they would like to date, with more men (11 percent) than women (4 percent) reporting they would like to do so.

Twelve percent of workers reported that their relationships started when they ran into each other outside of work. Some other situations where Cupid’s arrow flew between co-workers include:

• Happy hour
• Lunch
• Working late at the office
• Company holiday party
• Business trip

Haefner offers the following tips for workers who may want to spark a workplace romance:

• Know your company’s policy on office dating: While some companies may have a formal policy, others may not have anything at all. Make sure both parties in the relationship are aware of potential rules or consequences.
• Social media – office relationship friend or foe?: Before you start posting pictures and status updates about your newfound coupledom, it may be better to inform your co-workers or boss in person. That way, there is less chance for gossip or speculation.
• Keep the relationship out of the office: Do your best to maintain professionalism and not let the dating issues affect your performance or others on the job.

The survey also showed the repercussions of workplace romance, with 6 percent of workers saying they have left a job due to an office romance.

And Now…We Try to Keep Three Prospective Accountants From Freaking Out About Not Having Jobs

Welcome to the Lindsay-Lohan-prison-jumpsuit-fitting edition of Accounting Career Emergencies. In today’s edition, we’ve received a flurry of emails from Big 4 hopefuls who can’t land interviews and are FREAKING OUT. Are they doomed to the breadline and/or parents’ basement or can their CPA firm dreams still come true?

Are you working for the devil this busy season? Are you looking for a summer activity that doesn’t involve three letters? Need an excuse for not passing the CPA exam that will pass the mustard with the Email us at advice@goingconcern.com and we’ll try to come up with something better than, “The dog barks whenever Peter Olinto is on screen and I can’t concentrate.”

Now, then. Today is a little bit different in the ol’ advice column. And since everyone out there seems TOO BUSY to engage in any busy season chicanery and tell us about it, this thing will be a tad lengthy. In the last week, we’ve received three emails from people who are borderline having panic attacks because they can’t land interviews. Obviously, this is a problem worth these pages but if you think we’re writing three columns on the same damn thing, you’re all a bunch of mental cases. And for those of you thinking that this sounds like you, don’t even try giving us the “well, this doesn’t address my specific situation,” story. Sure, everyone is special but not so special that you need the delicate intricacies addressed. [BREATHE]

All right. Let’s do this, shall we?

Here’s a portion of email #1:

I interned at PwC with an internal position during Summer 2008 and I did audit with them in Spring 2009. I wasn’t given an offer for full-time employment and I have been looking for a job since. I tried recruiting with Ernst and Young last year and they kept saying they did not have any positions and then last summer they hired another candidate from my school with whom I graduated. Just about everyone I’ve graduated with has a position at an accounting firm. I’ve applied nearly everywhere (other big 4, mid-tier, local acct firms, industry, and even Craigslist). I can’t help but start to take it personally. Career services at my school doesn’t seem too interested in helping me…in fact one of the counselors actually was a recruiter at PwC when I worked there and she just recently left a voicemail that we should stop talking. I have one professor that still keeps in touch. I knew I wasn’t going to get an audit position even though I still applied but I’ve even been turned down for staff accountant positions. Last September I passed all four sections of the CPA exam. I’ve been told that I’m either “over-qualified” or I don’t have enough years of experience.

That should be enough but if we suffered through them, then you are too. An excerpt from email #2:

I have been to numerous career fairs since then and I’ve made significant contacts with some big 4 recruiters and other regional firms. But after sending my carefully prepared résumé by mail and continuous attempts to get some information about an interview, I‘ve been always getting the usual “we are looking at other candidates and wish you the best” reply or none at all. The only significant feedback I received was from a regional firm that was really interested, but was drawn back when I told them my college GPA. I take full responsibilities for my shortcomings in college, but I have invested the needed time and effort in doing what EVERYONE IN THE WORLD TOLD ME TO DO, which is passing the CPA exam. I have also gained significant and progressive experience at my current workplace, but I still have not even gotten an interview! I am 25 and I feel time is running out for me. I’m even thinking of getting other certifications like the CFE or ACCA (Association of certified chartered accountants), to make me a more desirable candidate.

Sick of it yet? Here’s a bit from #3:

I’m in my last semester and will have my 150 hours at the end of this spring. I am also preparing the the CPA exam (have started Becker, taking my first section, AUD, at the end of February). As a student in these times, I have never been able to find an accounting internship or any part time accounting work as all of my job inquiries wind up unanswered. It’s not for lack of trying, but my GPA isn’t spectacular (3.2) and my résumé is average. At the college job fair a few weeks ago, I put in resumes with all big 4 and all mid tier firms and was NOT INVITED TO A SINGLE INTERVIEW. I became an accounting major because I thought there were jobs available to qualified students. I have an accounting and finance degree, 150 hours and will have the CPA under my belt in a few months…what the hell am I missing. Am I really not qualified to become a slave to the Firms?

Good Lord. Let’s see if I can do this without LOSING IT.

For starters, we’re making the assumption all three of you are socially capable individuals. If you’ve noticed people responding to your typical conversation with “That’s awkward,” or “You’ll be hearing from my lawyer,” then we suggest engaging a life coach or some other professional that can help you with your awkward tendencies. Secondly, all three of you need to stop freaking out. Sure, you’ve got responsibilities and school loans and whatnot but thank your lucky stars you’re not a lawyer. You have a good educational skill set, a job market that is thawing out and your debt is probably under six figures. CALM DOWN.

Now. If the Big 4 isn’t interested in what you have to offer, you have to get over it. Somewhere in your gray matter, you knew striking out with all of them was a possibility. Now that it has become a reality, you need to move on. If you’ve managed to do that and say you’ve gone to Grant Thornton, BDO, Rothstein Kass and McGladrey and you’ve been denied there too. And maybe you’ve gone to regionals like Moss Adams, BKD, Clifton Gunderson, Plante & Moran, WeiserMazars, Dixon Hughes Goodman et al. [ugh] At this point, it’s natural for frustration to start creeping up on you. But if you want to work in public accounting, you can’t get discouraged. Next thing you should do is to knock on all the doors in your geographic location. The Vault 50 is a good place to start. Firms from every part of the country are on the list and you can specifics on them over at the Vault website. Pound the pavement, people.

If that doesn’t work, then we suggest calling some reputable recruiters in your area to find out if they have any entry-level positions at CPA firms. Keep things cool, don’t act desperate and put your best qualities forward. The recruiters should be able to help you polish your résumé if needed and find you an interview or two. IF ALL THAT FAILS and you simply need a job, look for an in-house accounting job to get your career started. Just because you don’t start in public accounting doesn’t mean you’re doomed to work a dull job and have a lackluster career. And who knows, you might – gasp – like the work.

Any words of encouragement from the peanut gallery? I need a drink.

Measuring the Career Value of the Big 4 Experience on a Scale of 1 to 5

As most of you are acutely aware, your humble editor is a KPMG alum. By virtue of said alumni-ness, occasionally, I’ll receive an email from the old firm informing me of this or that and the occasional invitation to an event of some sort. Recently, I was asked to participate in a survey called, “The Career Value of Big 4 Experience” and since the firm said that for my participation they would donate a brand new children’s book to First Book, I figured it was worth my time. ANYHOO, since it’s a painfully slow day out there and you guys aren’t making squat happen (with the exception of tax returns, audit workpapers, due diligence and whathaveyou) I thought I’d share my answers with you and put Big 4 career value idea out .


Apologies for the various sizes, clipping these screen shots were a bitch. And full disclosure: there were six additional questions to the survey that asked about my salary, my company, etc. that are of little consequence.

Now then – the 1 to 5 scale was only offered for the first six questions:

Now, let’s be honest – I wouldn’t be where I am without my experience at a Big 4 firm, so answering #1 was easy. Question 2 on the other hand is a little tricky, as my “current skills and experiences” involve reading blogs, figuring out WordPress, tweeting and stringing together mildly amusing run-on sentences with the occasional quip or pun. Some of my friends describe it as “shit-stirring” but I prefer…well, that about covers it. Is this valuable in the current job market? Sure. But probably not in a way any a Big 4 firm would have imagined. For question 3, it’s simple – I’m satisfied with my job. I don’t make as much money as a Big 4 baller but I don’t have a second job, my work/life is good and it’s fun. Not much else matters.

Moving on:

Career advancement isn’t really an issue since I only have to deal with TPTB if the lawyers come calling. Again, not exactly typical for a Big 4 alum. Question #5 is more or less a joke. Question #6 was interesting. Many people argue that manager is the ideal point to the leave the firm and I suppose if I had become a manager maybe I’d have a little better perspective of the management team but I know enough people at that level to get the gist and if I have questions, they can give me the lowdown. So had I stayed at KPMG a couple more years (I wasn’t given the option, btw) perhaps I’d be marginally better at my job.

And finally:

Okay, so #7 – had I not been shipped off in the fall of ’08, would I have stayed longer? Probably not. I was burned out and had explored as much of the firm as the bureaucracy would allow so it was a good run. Question #8 – after talking to MANY people who have gone on to new careers, I’ve concluded that leaving as a SA is best but I should qualify by saying that you should at least be an SA2 and SA3 is probably ideal. Sure you might be on the cusp of manager but by becoming a manager, you’re fully saturating the Big 4 indoctrination and some employers would prefer if you still have a shred of impressionableness in you. With the manager title and experience, your ideas (right or wrong) about audit/tax/advisory are pretty steadfast and you may be an old dog already. That’s not to say that you people aren’t flexible but I’ve been around enough of you to know that getting into mental ruts is a specialty.

So wrapping up, I’m very grateful for my Big 4 experience. It was unimaginably valuable, I met a lot of great people and have no regrets (except for a few brutal hangovers at national training). So, I’ll give it a 5. But most of you aren’t me so feel free to discuss your own experiences. I need to get back to ignoring AOL/HuffPo headlines.

Should an Overachieving Auditor Ruin His Summer By Studying for the Certified Internal Auditor Exam?

Welcome to the I’ve-never-been-so-disappointed-with-commercials-in-my-life edition of Accounting Career Emergencies. In today’s edition, a future Big 4 auditor is thisclose to finishing up the CPA and is worried that his summer won’t be sufficiently ruined without an exam to study for. Is hitting the books for a Certified Internal Auditor badge the answer?

Need career advice? Need a myth about your firm debunked? Is your job driving you mad to the point of considering a terrorist act? Email us at advice@goingconcern.com and we’ll keep your face off a most-wanted list.

Back to our glutton for punishment:

Dear Caleb,

I keep going back and forth on whether or not to go for another certification. This month I’m studying for, and taking, the last section of the CPA exam. I’m starting an auditing gig at a Big 4 firm this Fall. With no CPA exam to ruin my life this summer, I’ve considered ruining it by studying for a new exam, specifically the CIA.

I’ll have the required work experience for the certification as of June 2011, so my first set of biz cards would be able to read “Indentured Servant, CIA” right out of the gate, with it being updated to “Indentured Servant, CPA, CIA” in 2012, just in time for the world to end.

The CIA exam is cheaper than the CPA and probably easier at this point. Plus, everyone would think I worked for the CIA. Should I take the exams, or get a life that will be ripped away from me in a few months?

Best,
Indentured Servant

Dear Indentured Servant,

I think a more appropriate pseudonym for you might be “Auditing Overachiever” or “Don’t Know What to Do with Myself” OR “Prefers Books About Auditing as Opposed to Interacting with Humans, Even Those Who Might Want to Have Sex with Me.” NEVERTHELESS, I’m here to help.

Your letter is a little confusing but I’ll try to piece things together. Your job starts in the fall but you’ll have enough work experience (24 months) to obtain a CIA in June so that can only mean that you’ve been an auditor for awhile. It also means this new Big 4 gig is fresh start for you in some way, shape or form since you’ll effectively be a new hire. Making those assumptions, I’m not really sure what the CIA will do for you as a Big 4 auditor. Yes, having a extra credential is nice but it likely won’t mean squat to your co-workers, partners or clients and it won’t make you any extra money. Plus, as far as I can tell, the superficial motivation behind this endeavor – paraphrasing your words – is A) “I want to ruin my summer” B) “it’s cheaper than the CPA” C) “people will think I’m a spy.”

My response to these is A) What’s wrong with you? B) How is spending more money “cheaper”? C) No, they won’t.

See why I’m confused? The underlying motivation – if i can put you on the couch for a sec – is that you’re worried about being bored. Are you completely incapable of enjoying a summer if it doesn’t involve being indoors with your nose in a book? Take a vacation, take a staycation or do nothing but study for an exam that will get you an obscure certification? In my opinion, there’s extremely limited upside to the CIA at this point in your career so do yourself a favor, finish your CPA and give the certifications a rest for awhile. They’ll always be there for when the disappointment of the world NOT ending in 2012 gets you down.

In other words – get a life, dude.