Category: Career Center

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Big 4 Aspirant Requests Some Myth Busting

Welcome to the first Friday in February edition of Accounting Career Emergencies. In today’s edition a future Big 4 soldier isn’t sure what to make of all the myths and rumors swirling around the quad about said four firms. He’s asked me to debunk.

Are you in desperate need for a regime career change? Have a gassy cube neighbor? Need some tips on how to turn that frown upside down during busy season? Email us at advice@goingconce serve you better than Dr. Phil (or his dopplegänger).

Back to our Big 4 mythbuster:

Hey GC,

I was wondering if there were any truth to the rumors/legends that seem to percolate through campuses about Big 4 accounting. Here’s a short list of stuff that I’ve heard while attending accounting job fairs, business frat/club meetings, and associates from Big 4 and regional firms that come back to campus for recruitment events.

1. During their respective busy seasons, new tax and audit associates at a Big 4 work so many hours that their monthly salaries break out into an hourly rate that is less than minimum wage.

2. It is nigh impossible to study for and pass any portion of the CPA exam while simultaneously working at a Big 4.

3. Internships are virtually the only way for new graduates to break into a Big 4.

4. Becker is better than Kaplan is better than Bisk.

5. Beginning a career at a Big 4 will open more doors down the road than starting at a mid-tier , regional or local firm.

6. At Big 4 firms, advisory associates make more money than audit associates make more money than tax associates.

7. The average Big 4 associate leaves/quits/defects before their 3rd year.

8. Evan after taking raises into account, Big 4 associates that were hired during the brunt of the recession will actually be paid less than new hires this year.

So is there any truth to these rumors? I’m guessing that there’s quite a bit of embellishment that come from associate ‘war stories’ so I’ve tried to take everything with a grain of salt.

Thanks,

Big 4 Mythbuster

Dear Mythbuster,

There’s a lyric in “I Heard it Through the Grapevine,” that goes, “People say believe half of what you see, Son, and none of what you hear,” which we find to be generally a good rule of thumb (with the exception of what you read at this fine publication…most of the time).

ANYWAY, we’ll tackle these one at a time:

1. During their respective busy seasons, new tax and audit associates at a Big 4 work so many hours that their monthly salaries break out into an hourly rate that is less than minimum wage. – Let’s keep this simple: if you calculate an average salary based on this year’s starting salaries and 2,000 chargeable hours, it’s pretty difficult to get down to the federally mandated minimum wage of $7.25. Now, can you work far more than the 2,000 hours? Of course but even if you doubled the hours, you’re still above the minimum wage. MYTH.

2. It is nigh impossible to study for and pass any portion of the CPA exam while simultaneously working at a Big 4. – Is it difficult to balance a work schedule, studying, arranging to sit for a section, having a shred of a personal life, finding time to take out the dog AND still pass a portion? Yes, absolutely. “Nigh impossible”? No. People working at the Big 4 pass portions of the CPA every month. MYTH.

3. Internships are virtually the only way for new graduates to break into a Big 4. – When the Big 4 firms were hiring everyone and their dog back in the mid-Aughts, this would have been a myth. These days, with hiring budgets being a little tighter, the internship route is a must. Most interns end up taking the full-time offers which leaves just a few spots, so that doesn’t make for very good odds for any outsiders. TRUTH.

4. Becker is better than Kaplan is better than Bisk. – God, sorry to say but this is fruitless exercise. I don’t endorse any of the CPA review courses (FULL DISCLOSURE: I used Becker and passed and some companies happen to advertise with us.) out there. The companies will present stats that presents their pass success rate in the best light possible. That said, ranking the review courses in some arbitrary order like you’ve done above is meaningless. If you hear from someone on campus that Becker is the best because that’s what they used (Tim Gearty’s handsome wardrobe notwithstanding) or that Roger is the best because that’s what they used (and not because they have a thing for hipster chicks) that doesn’t mean you will necessarily have the same success. And if someone tells you that they’ve tried more than one review course, you should know that this person probably just sucks at taking tests. MYTH.

5. Beginning a career at a Big 4 will open more doors down the road than starting at a mid-tier, regional or local firm. – As a general rule this is true. Having the exposure to the most complex accounting systems, transactions and business models will allow you to work at these companies if you so choose. Working at Big 4 firm (and in some markets, mid-tier firms) will give you that exposure. Does that mean you’re doing yourself a disservice by accepting a position with a regional or local firm? Of course not. It all depends on what your career goals are. But does a Big 4 firm name on your résumé get more attention than a non-Big 4 firm. Yes. TRUTH.

6. At Big 4 firms, advisory associates make more money than audit associates make more money than tax associates. – In my experience, I’ve found that salaries for tax and audit associates are extremely close with a slight edge to the tax side, so you’ve got those two backwards. But yes, Advisory associates are paid the most. ONE-THIRD TRUTH.

7. The average Big 4 associate leaves/quits/defects before their 3rd year. – Again, the “average” number of years that an associate works at a Big 4 firm is a complete arbitrary statistic. I’m not sure when people started throwing numbers like this but it’s pretty useless information. Typically when people state an average number of years that an associate stays, it’s not backed up with any stats. I’d be surprised if the firms themselves even know what the average shelf-life of an associate is. I may be wrong about this and would love to see some stats if they’re out there but for now we’re going with: MYTH.

8. Evan after taking raises into account, Big 4 associates that were hired during the brunt of the recession will actually be paid less than new hires this year. – Pay freezes and meager increases certainly put a damper on salaries in ’08-’09 but this past year saw the Big 4 return to some reasonable increases across the board as well as bonuses in various forms. Starting salaries for new associates will always keep up with the market (as is popular to say) but with coverage of salaries being more transparent than it used to be, it will be impossible for firms to allow new hires to earn more than their superiors. MYTH.

Whew! There you have it; discuss as needed.

Best Place to Work Bupkis

Last week we went through the painful ritual of listing out the accounting firms blessed with a spot on Fortune’s 100 Best Places to Work. All the usual suspects made an appearance but ultimately a regional firm, Plante & Moran, took the highest spot among accounting firms (but they didn’t get to ring the closing bell, did they?).

None of this is of interest to you and frankly we’ve had about all we can stand when it comes to these lists but Adrienne pointed us to this post by Laura Vanderkam that takes the debunking to an intricate level, starting with something that we all know, that most of these lists are opted into by the companies HR or Marketing Departments (emphasis ours):

To be eligible for a list, you have to fill out whatever paperwork the tabulators require […] This means that not only do you have to be a great place to work, you have to be a company where management cares about being listed in magazines as a great place to work. Only 311 organizations bothered this year, out of thousands of employers in the US. So if you went through the whole process, your odds were pretty good. But that doesn’t means that the 311 employers that did try are better than the thousands that didn’t.

Our resident math genius is on vacay but if you do some rough calcs, your chances are, what, 1 in 3? Decent odds. Then, comes the strange phenomenon of where these companies fall and why:

[I]t’s strange that a magazine with such great reporters as Fortune relies on such a flimsy methodology for creating their rankings. If you believe this list, then Americans prefer to work at Nugget Market (a 9-store supermarket chain) than at McKinsey, at Google vs. Facebook even though some headline-making defections would point otherwise, and we should want to work at Aeropostale because, as one young employee put it “Where else can you talk to the boss over pizza?” (Um, where can’t you?)

The Trouble With “Best Places To Work” Lists [BNet]

Can a Sole Practitioner CPA Jump to CFO?

Welcome to the two-out–of-three-groundhogs-can’t-be-wrong edition of Accounting Career Emergencies. In today’s edition, a CPA with nine years experience as a sole practitioner has CFO aspirations but isn’t having any luck landing interviews. Does her near-decade of running her own shop hurt her desire to rejoin the corporate ranks?

Need advice on your career? Got a co-worker saying nasty things about you? Getting impatient while you wait for the perfect time to start your embezzlement scheme? Email us at advice@goingconcern.com and we’ll save you from yourself.

Back to the boss:

I am a female CPA in my mid-40s who has been a sole practitioner accountant for the past 9 years. I’m confident, aggressive and customer-focused. Prior to my accounting career, I worked 12 yrs in the Technology industry, for companies like AT&T and Motorola – in positions of increasing responsibility – my last 2 jobs were VP-level. I also have an M.S. and B.S. in Mathematics.

Here’s my dilemma, I would like to re-enter corporate America but this time on the finance side as CFO or Sr. Controller of a private company. I’ve just started talking to accounting/finance recruiters and I’m getting a luke-warm reception to my background. They return my calls, tell me I’m “unique”, but I’m not getting any interviews. I’m wondering if being a sole practitioner is holding me back?

My question for the guru is: what is the perception in the finance & accounting industry of a sole practitioner – are we considered to be a “lesser” form of CPA, unable to perform as a CFO? I’m also wondering how my “accounting as a second career” is perceived? It does appear that most accountants are kind of “born that way”, rather than deciding mid-life to become a CPA, like I have. But what can I say, I always had CFO-envy in my first career, so I decided to pursue my passions, start my own business, get my CPA, and go for what I wanted – one would think that would be looked at positively?

I’m really hoping you can provide some insights. I don’t have any CPAs to talk to, since my main interaction with my peers has been when I take business away from them. And I tried to get career advice from a female mentor program sponsored by my state CPA society – but all they wanted to talk about is flex-time and work/life balance!

In need of a reality check,

Dear In need,

So it sounds like you’re tired of being the boss without having anyone to boss? Or maybe you miss the friendly confines of corporate America? Whatever your motivation, we have a simple question for you: are you nuts? What do you hate most about having your own business? The flexibility? The money? Not having to deal with stupid co-workers? Sigh. Forget our questions, we’re here to help.

Nine years is quite a stretch to have your own practice and from the sounds of it, you’ve been successful and you had a decent run in the corporate world prior to that. Regarding the tepid reaction from recruiters, we’re curious if you’ve pressed them for reasons for the lack of interviews. These people are working for you, don’t forget, and any failure on their part doesn’t reflect very well on their abilities. Get some straight answers out them.

Now, then. The perception that the F&A industry has of sole practitioners is, well…they don’t pay much mind. We’re guessing you’re preparing plenty of tax returns, maybe a few small audits and providing financial advice to your clients. Anyone looking for a CFO wants someone that can lead and run the finance and accounting departments. Despite the twelve years of experience you have in the corporate world, your most recent experience has been working for yourself and serving clients. Not much management experience (from an f&a function or employee perspective) there. It’s not that you’re “unable to perform” but your track record doesn’t really demonstrate that you’ve been working towards that goal. Furthermore, small company CFOs these days are taking on more responsibilities including IT and HR decisions. Chances are most companies will hold out for someone with the total package. Or at least a package more complete than yours. We’re not trying to discourage you but we do see a disconnect between your experience and the position you desire.

That said, there is no shortage of small companies that need CFOs and controllers. Be sure you’re using an executive recruiting firm to assist you in your search and ask them honestly if your background is problematic.

One other thing to consider: maybe shop around to the CPA firms in your area that wouldn’t mind having your book of business. Perhaps they’d be interested in admitting you as a partner in their firm. It’s not exactly in line with your goals but it could pave the way if your CFO search runs into a dead end. Good luck.

What’s a Mom Over 40 to Do When She’s Ignored by the Big 4?

Welcome to the is-anyone-sick-of-snow edition of Accounting Career Emergencies. In today’s edition, a Mom of two is getting her career started after going back to school and has found the Big 4 to be less than interested in what she has to offer. She’s looking for some feedback and advice but we’re guessing it has nothing to do with this Tiger thingee.

Got the busy season blues? Need help making your next career move? Concerned that your boss is channeling Lucifer? Emailto:advice@goingconcern.com”>advice@goingconcern.com and we’ll say a prayer for you.

More from Mom:

Please help! I came back to college for an accounting degree at 40 after earning my first degree in a non-business field long ago. I have a 4.0 major GPA, and am at the very top of my class. I will have an undergraduate accounting degree soon and be done with the CPA exam a few months later. I have 2 kids who are 10 and 12.

My plan was to start with at least a couple years in public accounting, and go from there. It seems like you need to do that so that you don’t limit your options for later. I’ve been to one career fair and didn’t get a single interview. I intend to be committed when I go full time (45-50 hours a week) but don’t desire to work from 9 am until 10 pm 5 days a week all year, at least until my kids are out of the house. Working crazy hours for a 3 month season would be fine, but not all year. I lean toward tax but enjoy everything I’ve done in accounting. Despite all their talk about diversity, I haven’t seen any Big 4 firms remotely interested in anyone over 40 and I’m not sure that I would fit with the Big 4 culture anyhow. So the question is – what is your best advice for a smart mom over 40 who desires a job in accounting – regional/local public accounting, straight to industry, governmental? Would also love to hear some HONEST feedback about the work hours at regional and local public accounting firms. Thank you!

Smart mom over 40

Dear Smart Mom,

We’re not surprised to hear about you being stonewalled by the Big 4. You’re way past the impressionable stage and the large firms like their newbies young and clueless. Furthermore, when it comes to diversity, we don’t think age is really at the forefront of their ambitions. Your instincts are serving you well and a regional or local firm will be a better fit for you. We would advise against going into an in-house or government job at this point, as some time in public will help you determine what your interests are. We suggest finding a public accounting firm where you could engage directly with managers and partners that are closer to your age, as there will opportunities to bond over kids and other things you have in common, plus it will be a natural fit for a mentor/mentee relationship. You’ll learn more quickly and be given more responsibility sooner, which is probably of interest to you.

As far as hours are concerned, you’ll work plenty but it won’t be the epic busy seasons of Big 4 lore. You’ll likely work between 50-60 hours a week during the busiest time of year but obviously, this will vary from firm to firm. Also, small firms tend to be more creative when it comes to flexibility in order to accommodate their employees specific needs, so this will probably serve you better than a Big 4 or mid-tier experience. If all else fails, land a recruiter who can take your personal situation and set you up with a firm or company who will appreciate your situation but will also be a good cultural fit for you. Good luck.

Is Turning Down a Big 4 Internship a Mistake?

Welcome to the Cairo-is-burning edition of Accounting Career Emergencies. In today’s edition, a midtier intern-to-be is having second thoughts about their decision to turn down an offer from a Big 4 firm. Was the move a mistake? Can they go back, begging, crawling on hands and knees for a second chance?

Need solid, yet snarky career advice? Concerned that your advances on a co-worker might be rejected with footwear? Suddenly in need of a talent agent? Email us at advice@goingconcern.com and we’ll help you find your very own Ari Gold.

Meanwhile, back on campus:

I accepted an audit internship offer awhile back with a midtier firm for next winter. In doing so, I turned down an offer from one of the Big 4 for the same period. Now, I’m wondering if I’ve really given enough thought to the Big 4 route.

I am aware that my life will be non-existent outside of work no matter where I go, but the exit ops with the Big 4 seem worth it. I’m wondering if it would be advisable to contact the recruiter I previously worked with and see if I could interview again, this time for a summer internship. Would this make me seem too indecisive, or should I at least try for it? If not, could I still ask him to keep me in mind for full time positions?

Sincerely,

Confused and soon to be abused

Dear Confused and soon to be Abused,

You didn’t really give me a lot to go on (we do however, appreciate the brevity) but we’ll make something out of this.

In general, I think your first instinct is always best and it sounds like you might be second-guessing your decision. You chose the firm you chose for a reason, didn’t you? You probably had reasons for not choosing the Big 4 firm, right? Did the “exit ops” occur to you only after the decision had been made and all your previous considerations were deemed inconsequential? I’m doubtful.

As for contacting the Big 4 recruiter, I don’t see any problem but take the angle that the decision you made was extremely difficult, you want to have various experiences to make the best choice for your long-term career and you’d be interested to know if summer internships will be offered. If you play the “I made a mistake, please, please, please give me a second chance” angle, you’ll come off desperate and wishy-washy. As for the full-time possibility, most of those positions will be offered to their interns, so it will be tough to sneak in once you’re ready to go full-time and you haven’t interned with that firm.

Keep in mind – just because you’re interning with a particular firm, that doesn’t mean you’ll be with the firm your entire public accounting career. Many people bounce around to various firms for one reason or another and your experience will be valuable no matter where you work. So, feel free inquire about the Big 4 firm’s summer internship but don’t give up on your mid-tier possibility. Good luck.

Should a Big 4 Loverboy Request a Transfer to Avoid a LDR?

Welcome to the Bachmann 2012 edition of Accounting Career Emergencies. In today’s edition, a Big 4 acceptee’s beloved is moving across the country while he’s stuck with his job in New York. Does he request a transfer, stick it out or simply choose love over money?

Does your career need a wake-up call? Got the busy season blues? Jealous because you’re not in Davos hobnobbing with great minds like yours? Email us at advice@goingconcern.com and we’ll remind you why you’re stuck in a broom closet somewhere in Iowa.

Back to our ockquote>Hi Caleb,

I graduated from a west coast college and moved to the New York after graduation with a few friends. I ended up going back to school out here (NY) and am getting my Masters in Accounting in June. I went through the accounting hiring process this past Fall and did much better than I expected, receiving offers from a few mid-tier firms and two from the Big 4. I ended up accepting an entry level audit position in a New York Big 4 office and am starting in the Fall (2011).

However, my girlfriend, who I am serious with, is getting transferred for work to the city I was born and raised in on the West Coast. I had always planned on working in New York for a few years and transferring/moving back closer to my family. Now I wish I had gone through the interview process for the specific west coast office where my family lives but I have already accepted my offer for the east coast office.

I know there are a lot of politics in the Big 4 and I don’t want to be viewed as a problem child/uncommitted by asking if I could transfer to the west coast before even working a day at the firm. And if I start in the New York office and want to transfer: first, I have no idea how long I would need to work there for for a transfer to be appropriate (both to ask for one as well as how long it would possibly take), and second, a long distance relationship would be stressful and not ideal (duh).

So, my two options seem to be:
a) Ask my HR contact at my firm or my manager I interviewed with about my situation and see what they can do.
b) Suck it up and work (a while? how long?) at the New York office until it’s an appropriate time to transfer.

Thanks in advance,
Lost but in Love

Dear LbiL,

I never thought I’d actually delve into relationship-cum–Big 4 career advice but luckily for you I have a similar experience so here goes nothing.

I know the LDR situation all too well, so we feel your pain. It can be good if you like space but it can be bad, well…obviously. What’s missing from your story is your better half’s side. Is her company requiring her to move to the west coast or is this her choice? If it’s the latter, did you discuss the potential ramifications of such a move? You say, “I wish I had gone through the interview process for the specific west coast office where my family lives but I have already accepted my offer for the east coast office,” but this is meaningless since we get the impression that you accepted your Big 4 dream job (with the intention to work in New York for “a few years”) prior to your girlfriend’s transfer.

Assuming you’ve talked this over with your g/f, she certainly has an opinion on the matter. If she can’t live with you being so far away, that sounds a bit needy (but maybe you like that). If she’s indifferent (i.e. she says, “do what you want” or “I don’t want you moving because of me”), perhaps she’s passive-aggressive, incapable of emotional intimacy or a little freaked out about the seriousness of the situation and doesn’t want to held responsible if things go wrong. If the two of you have actually sat down, talked it over and she says, “I’ll support you in your choice, whatever that may be,” you have a winner. But remember, ultimately it is your decision.

Now, then. Your firm. Odds are, they won’t be impressed with your request for a transfer straight out of the gate but situations similar to yours have surely come up in the past, so hopefully they’ll be sympathetic. Problem is – as you mentioned – transfers do involve the intricacies of the Big 4 bureaucracy so you’re looking at a slow process and they could just say, “no” or “right now we need you here but we’ll continue to work on it.” That being said, if moving back to to the left coast is really what you want to do, then you’ll never know unless you ask. Sooooo, ask the question (being prepared for “no”) and then go from there. If your firm isn’t accommodating you and you’re still head over heels in love, you can always quit and hitch it west. I hear they have accounting jobs out there. It may not come to that but we’d be remiss if we mention it as an option. Good luck.

HELP! I Hate My Big 4 Job Part XLVIII

Welcome to the National Hugging Day edition of Accounting Career Emergencies. In today’s edition, someone is miserable at a Big 4 firm. AGAIN. Perhaps it’s been awhile since we’ve covered this, so we’ll make another run at it.

Need some advice on a busy season take-out routine? Worried that a client’s strange penchant for ginormous vehicles could be a Ponz? Having trouble coming up with a superhero name? Email u:advice@goingconcern.com”>advice@goingconcern.com and we’ll help you avoid something that involves a flying mammal.

Back to our accountant who really needs a hug:

I started with a Big Four firm a little over a year ago. When I accepted the offer pay was a HUGE concern for me. I took an over $20k/year pay cut to accept a “campus hire” position with a firm when I had six years of accounting experience under my belt (I worked my way up from clerk to manager in the years before joining the firm). At that time they weren’t even considering people with non-public accounting experience for experienced hire positions. I was wrapping up my 150 units (even though I am in a 120 unit state) and figured the experience would be worth it so I could get certified and bounce to somewhere that would pay me appropriately.

Unfortunately, I’m now a second year staffer who is expected to work more than my peers- because “I can handle it.” I haven’t had time to study or sit for a single CPA exam and no one seems to care aside from telling me I won’t get promoted until they’re all done. I requested a lighter workload during the summer so I could study but was turned down, sent on an extended out of town engagement with very long hours and then scheduled on another out of town engagement for the one week my boyfriend was supposed to be in town for work. I feel like I am giving up my entire life for a job that doesn’t even care about me.

I’ve tried multiple times to tell the firm about my concerns and am always shut down. It’s not like I hate the job- I actually like it- I just can’t stand feeling overlooked at best and mistreated at worst. I am burnt out and just wish that this job was more in line with my goals. I’m probably not going to quit during busy season because I cannot imagine doing that to the people I’ve come to care about- those whom I actually work with- but I probably won’t be there in the summer if something doesn’t dramatically change.

I feel lost, like I don’t know what else I can do and like I will go apeshit and quit the day the external binder for my client is turned in. I wish it weren’t the case and don’t know if you have any other suggestions for me at this point. Can you think of anything I can do to save my career and my sanity?

Dear I need a hug,

Your email was ridiculously long, so you’ll note we edited some things out that we found to be less important. We’ll channel a certain Irish talking head to any would-be advice seekers – keep it pithy. If not, expect your message to ignored or edited until it’s a manageable length. You want a full session? Get a therapist.

Now, then. You took a risk. A good risk in our opinion but a risk nonetheless and now it sounds like things haven’t panned out the way you hoped. It sounds like you’ve taken many different approaches to address the problem but ultimately it’s falling on deaf ears and now you feel like it’s affecting your life in an extremely negative way. We would suggest leaving ASAP for your own mental health but since quitting right this second (even though others are doing it) doesn’t sound like something you’re interested in doing, we suggest that you at the very least get the ball rolling. Call up some reputable recruiters in your city and explain your situation. They’ll take a look at your experience and will hopefully be able to give you an opinion on your experience to date and some good options for employment post busy season.

Honestly, you sounds miserable, so we encourage you to get out fast but be mindful to find a job that will meet your work-life needs and is “more in line with [your] goals,” to use your own words. It sounds like you’ve already made up your mind that you’ll quit after busy season but there are some things you can do now so that you’ll have something to look forward to rather than going apeshit. Hang in there and good luck.

Intern Concerned About the Quasi-Exodus at His Firm

Welcome to the first (maybe second, depending on your CPA overlord) busy season hump day edition of Accounting Career Emergencies. In today’s edition, an intern 2.0 is concerned that everyone he knew from year one has disappeared. Has the exodus reached Old Testament levels? Were they abducted by aliens? Or can we chalk this up to a serial killer of CPAs?

Need survival tips for your first busy season? Are you an auditor getting a flood of requests for tax advice? Are you a tax pro suffering from nightmares of killer tax forms chasing you around a maze of cubicles? Email us at advice@goingconcern.com and we’ll provide some snappy comebacks or a good therapist.

Back to intern 2.0:

Hi Caleb,

I started my 2nd internship recently, with a national firm, and I quickly noticed that everyone I worked with last year has left the firm.

By everyone, I mean all 5 of my seniors and another staff member. Is this common? At this rate I shouldn’t even bother learning people’s names, as I’ll work with them once and never see them again.

Thanks,
Concerned intern

Dear Concerned Intern,

Truth be told, this mass disappearance of your superiors can only mean one thing – they found out you were coming back for your second tour and concluded that they would rather take their chances with the job market than spend another waking minute with your amateur ass.

Okay that’s probably not true at all but depending on the size of your office, six people could be a lot or a little. Offices like New York, Chicago, L.A., San Fran, Silicon Valley can lose six people in one day and no one bats a green eyeshade. If you’re in Kansas City or Memphis, six people could be the staff from an entire line of business and that can cause some managers and partners to have a nervous breakdown. So generally, there should be a inverse correlation between your concern about colleagues disappearing and the size of your office. But to put into an even broader context, you shouldn’t worry about people leaving PERIOD. Why, you ask? Cries of “It’s going to mean more work for me!” or “Busy season will suck even worse!” are common but people need to realize – this is the nature of the beast. People get burned out or laid off OR find a great job in-house somewhere OR suffer death by bindering (akin to stoning).

In other words, this is the business, kid. People leave. You’ll meet them, you’ll work with them, you may hate or love them but eventually most people jet. It’s just a matter of when and how.

Despite the “Horror Stories,” an Eight-year Tax Vet Wants to Know How to Jump to the Big 4

Welcome to a special Thursday the Thirteenth edition of Accounting Career Emergencies. In today’s edition, a tax veteran who has spent their career working in smaller firms is looking to make a move to a Big 4 firm since they “can be even more flexible with schedules.” The problem is, our aspirant is having trouble getting any of the firms’ attention.

Want to know if you’re stuck in a dead-end job? Looking for some good press? Need help writing a farewell email? Email us at advice@goingconcern.com and we’ll help you keep your valediction out of these pages.

Returning to the Big 4 wannabe:

Dear Caleb,

I am a tax senior who has eight busy season and a CPA license under their belt. I have always worked for the smaller firms because of all of the horror stories I have heard regarding the Big 4. Lately, I have realized that I really don’t work that much less than they do and sometimes the Big 4 can be even more flexible with schedules because of the size of the workforce. (If you are one of several, there is not a lot of room to move stuff around.)

The problem is I have never been through the recruiting process with the Big 4 and don’t know where to begin to try and move into an experienced position. I have applied on the website but have not had any responses. Any thoughts?

Sincerely,
Lost in Transition

Dear LiT,

So the Times convinced you, eh? It’s a good paper (is that still the correct terminology?), we’ll admit but even the Gray Lady can find itself wandering into uncharted waters. ANYWAY, this problem you have – no communicado so far from the Four Horsemen; we can help.

Our first suggestion is to work with a professional recruiter that has placed others with the Big 4. A good one will be able to take one look at your résumé and flat out tell you if you’ve got what it takes to get in the door. Then it’s up to you nail the interview(s). Done and done.

The other thing you can do – if you prefer to avoid the recruiter – is to use LinkedIn to find who the experienced-hire Big 4 recruiters are in your market and contact them directly. You could get started by looking at some recent posts that have emails from recruiters that are floating around this here site but we realize that may be a longshot.

So off you go, Big 4 hopeful. We hope you hit the work-life balance jackpot.

Are Carbon Accounting Services the Next Hot Career Path?

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.

Although the future of the controversial Cap-and-Trade bill is in limbo, particularly with a new Congress that might not be as anxious to pass the legislation as the previous group of legislators, many companies have already begun measuring and reporting carbon emissions. California andaiting for federal legislation and are initiating their own statewide cap and trade system. The Regional Greenhouse Gas Initiative, a cooperative effort among 10 states in the Northeast, is helping to develop and implement a reduction in greenhouse gas emissions. Other areas of the country are in various stages of regional carbon trading programs.


According to a recent report in the Fast Company Expert Blog, “An overwhelming majority of Fortune 500 companies now voluntarily measure, manage, and publicly disclose their carbon emissions.” This provides an exciting opportunity for accountants to provide an important service in the growing area of carbon accounting.

A recent article published by the GreenBiz Group, a media company that reports on sustainability, points to a shortage of greenhouse gas (GHG) professionals who can measure, report, and verify emissions. Results of a recent survey of greenhouse gas professionals show that “Most respondents believe GHG auditing has insufficient oversight.”

Gillian Marks, principal at The Climate Advisor, speaking last fall at the American Women’s Society of Certified Public Accountants/American Society of Women Accountants Joint National Conference (JNC) in Nashville, TN, spoke of President Obama’s Executive Order signed in October, 2009, requiring Federal agencies to set a greenhouse gas emission target for the year 2020 with specific energy, water, and waste reduction targets that must be included in the overall plan. The Executive Order requires agencies to measure, manage, and reduce greenhouse gas emissions with a commitment to leading by example.

Lynne McIntosh, president of Excellerate Energy LLC, joined Marks on the podium at the JNC and emphasized the opportunity for accountants to add carbon accounting services to their practice. She suggested that revenue generated by providing carbon accounting services could reach $7 to $9 billion by 2012.

“Just because carbon cap and trade legislation didn’t make it through the Senate, it doesn’t mean this stuff is dead,” said Paul Baier, vice president of sustainability consulting at Groom Energy, an energy consulting and design firm, in an article that appeared in TheStreet.com.

To assist companies with the mission of measuring carbon usage, a new crop of software programs called enterprise carbon accounting (ECA) is showing “explosive growth” according to market research performed by Groom Energy. Groom maintains a vendor list of software companies providing GHG, Carbon, and ECA software programs – so far there are 75 companies on the list. Groom predicts that the purchases of ECA software will increase 600% over the next year.

Last year, the Securities and Exchange Commission (SEC) issued guidance requiring public companies to warn investors of risks that climate change could pose to their business.

Accountants have a two-fold purpose with regard to carbon accounting. Not only are the accounting firms setting goals for themselves, but accountants are primed to serve as advisors to clients who are ready to get busy with carbon accounting. Taking sensible steps toward conserving energy is the starting point – an obvious one because it can save a company money. Moving into the field of carbon accounting, where carbon emissions are actually charted and measured is the direction in which we all are headed. Getting ahead start today could position accountants for a lucrative career move.

Should a Tax Rockstar Transfer to a New Consulting Gig Prior to Busy Season?

Welcome to another MOANday edition of Accounting Career Emergencies. In today’s edition, a tax vet is looking to move into consulting with their current firm but in a new office. The current office wants this “star performer” to stick around for busy season but ultimately the decision lies with our hero, who is concerned about burning bridges if they jump before busy season starts. What’s a tax rockstar to do?

Recently had your heart broken? Are you a miserable auditor with no one to turn to? Or an overachiever who needs help convincing their colleagues that you’re not just some know-it-all? Email us at advice@goingconcern.com and we’ll be your shoulder to cry on (and then slap some sense into you).

Back to the David Lee Roth of taxes:

Hi. I am currently with the tax department and thinking about doing a switch to consulting with my same firm, but a different office. The new position will offer better opportunities and as a bonus, better pay. I have already told my department leaders about this switch.

I think this will be a good switch for me, but am afraid there might be some burned bridges on the way since busy season is about to start and I am one of their star performers. They insist that I stay until busy season is over to make the switch because of the extra work load they will have. The final decision will be up to me, but I don’t want to burn any bridges.

Dear DLR,

First off, let us just congratulate you on the new consulting gig. It’s easier said then done to leave a successful run in one area to try something relatively different (without more DETAILS it’s difficult to know how different your new gig is).

Fortunately for you, your humble editor has some experience with a similar situation. Back in the mid-Aughts, I was granted a transfer from Denver to New York. My transfer was approved in the fall, however the leadership in Denver put forth the condition that I spend one more busy season in the MHC. Looking back on it, I’m glad it worked out that way because I was able to spend one more year working on a client I enjoyed and it better prepared me for my engagements in New York.

In your case, you are switching practices so perhaps you could care less about grinding out another busy season with your tax comrades. Similarly, if you’re the rockstar you claim to be, it probably isn’t too motivating to know that you’re going to bust your ass for 3-ish months but then not have your performance considered for your year-end review.

But you’re obviously torn between your giddiness of a new career opportunity and the possibility of rubbing some people the wrong way if you decide to leave them behind. Honestly, I’m a big believer in doing what you want to do, especially when given the option. So, you shouldn’t be surprised when I say move on to the consulting gig now. I understand that you don’t want to cause any friction but if they are “insisting” that you stay for busy season why did they allow you to make the decision? If they need you so bad, they would “require” you to stay. That’s what Denver did to me but again, their need was probably far greater than New York’s.

But here’s a NEWSFLASH: The team will make it through busy season with or without you. If your colleagues have integrity and support your ambitions, this is a non-issue. Chances are, some of them are completely comfortable no matter what decision you make. Others won’t be. Don’t worry about pleasing everyone because you’ll ultimately fail in that endeavor. If you want to join the consulting team now, then do it. Your tax colleagues will survive and if some of them hold it against you, then you’re better off getting the hell away from them. Good luck.

Another Fed Up Auditor Needs Help Making a Move

Welcome to the Friday edition of Accounting Career Emergencies (aka: why doesn’t anyone want to poach me?). In today’s edition, an E&Y audit staff has HAD IT with her trade. Problem is, she’s concerned that she might be doomed for “long hours and boring work.” Plus, she’s already has passed the CPA exam and needs to meet the hours requirement. Is her career doomed to boredom and lack of certification?

Need career advice? Recently been tempted by a sexy corporate suitor but don’t want to disappoint the boss? Thinking about turning to extreme measures to get revenge on a co-worker? Email us at advice@goingconcern.com and we’ll run down a cauldron.

Back to fed-up-auditor du jour:

I am currently working at EY in auditing at the staff 2 level. I am miserable in audit and have been trying to stick out my time here until at least senior status, but I’ve come to realize that I just cannot take 9 more months of this work. As such, I am currently exploring my options as to what else is available out there for me.

I have already passed the CPA exams and the only thing holding me back from obtaining my CPA is the CPA hours requirement. Can you recommend a transition job that will get me AWAY from audit but still allow me to put the work hours towards my CPA? I understand that financial advisory is one option and I am considering looking into such positions at Deloitte (because of their large FAS practice). However, the problem is that I’m not sure how different the nature of the work will be in financial advisory. Will I be met with long hours and boring work, similar to audit?

Can you PLEASE help a sista out?

Thanks!
– Concerned About My Own Going Concern

Dear Concerned Sista,

Will you “be met with long hours and boring work?” If by, “boring work” you mean “Microsoft Excel” and by “long hours” you mean, “more than 9 to 5” our response is “possibly” and “HELL YES.” We will not address the question about “long hours.” That is a matter of record all over this site. As far as the work, if it’s the nature of auditing you find dull, you’ll be glad to know that advisory services has many interesting practice areas but think about it, you have an accounting degree (presumably), for crissakes. There will be numbers and spreadsheets involved (if that’s what you find boring). What, exactly, were you expecting? Flip cup tournaments broken up by 2 hour lunches?

The good news is, the season is ripe for people looking to move to another Big 4 firm. However, you might be a little short on experience to jump over to Deloitte FAS. These practice areas are very specific and with only a couple years under your belt, it will be a tough sell. Obviously, this shouldn’t dissuade you but you’re officially on notice that it’s an uphill battle.

As far as your CPA is concerned, many states allow work experience in areas outside public accounting so unless your state has very specific requirements for licensure, you’ll be fine. This means you should take a hard luck about what you do like about accounting and make a decision from there. Keeping in mind that this could mean getting out of the Big 4 altogether. Good luck.