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.

Will Years Out of the Game Negate the Big 4 Boomerang Effect?

Ed. note: Have a question for the career advice brain trust? Email us at advice@goingconcern.com.

Here’s an issue I rarely see. I joined PwC management consulting right out of my Ivy League school, and have my undergrad degree in Economics. I loved it, worked hard, made manager in five years and worked for some huge clients. I did all of the extras, methodology writing, promotion committees, coaching, proposals, etc. Managed some huge high profile projects too. Was offered a slot at PwC’s new executive MBA program, and was in the alpha class, graduating with a concentration in Marketing (picked by the firm). But then we had huge post 9/11 layoffs, were spun off and bought by IBM. I left soon after to start a family. I was there nearly ten years.

I went back to school and got my MSAT, and now am halfway through my CPA exam, acing it thanks to my teaching and experience. I’ve been teaching accounting and tax at a major university for the past four years as an adjunct, and doing a little private consulting.

Can I get back in to Big 4? Do I do it as an experienced hire? I know I’ve never been a practicing auditor but I know the methodology and how to manage large engagements. What’s the best way for me to work my way back in? My former colleagues are all at IBM or have left. I am not eligible for on campus since I graduated with my latest masters in 2009.
Thanks!

DISCLAIMER: not every circumstance in the history of circumstances has been taken into consideration when making this statement:

Public accounting – you can always come back.

The flow of people out of public accounting is much more intense and consistent than the experienced hire onboards, but that’s not to say it’s impossible. I did a little searching on LinkedIn and realized that you live in the greater New York City area, which is to your advantage. Many of the Big 4’s support staffs are located in NYC, so there might be options in those areas of the firms if a return to client servicing is not possible. so your odds of finding an opportunity and a new home with one of the Big4 improve slightly. Start with searching their Experienced Hire websites for open opportunities. Links are below:

Deloitte

E&Y

KPMG

PwC

Scour LinkedIn for experienced hire recruiters within each firm and reach out to them directly; have them hear your story. Most importantly, be persistent. The experienced hiring model within the Big 4 is can be touch and go, especially considering the recent uncertainty in the economy.

How Does a Big 4 Vet Go About Finding the Right Recruiter?

Ed. note: Have a question for the career advice brain trust? Email us at advice@goingconcern.com

Dear GC,

As I’m sure anyone with their resume on LinkedIn can attest to, I get a plethora of emails from recruiters. I’m currently not looking for another job, but I’ve always heard it is a good idea to find a recruiter to get to know so they’ll have a good feel for the opportunities that are right when that time comes.

I have friends who have used recruiters to obtain positions post-Big 4 but none of them were especially impressed. Do you have any advice for finding the right fit? In my case, I’m interested in getting my MBA and going the IB/PE route and would want to work with someone who has good relationships with local boutiques.

Thanks.


Advanced apologies – I normally don’t write posts before my afternoon whiskey…

Many people hold recruiters in the same light as real estate brokers: sure, they can be forceful, demanding, short with their time, and generally annoying, but they hold the metaphorical (and sometimes, literal) keys to your future. Ideally, you’d like to find one that you can trust. The firm at which the recruiter works at is more important than the recruiter themselves. Why? Because the firm represents clients, and clients means interviews, and interviews mean getting the hell out of your current sitch.

Your recruiter might have two clients (firms, companies, etc.) that are his/her responsibility, but as one of their candidates, you are eligible to receive an interview at any client represented by the firm. Do your homework – try to work with an industry-specific firm that matches up with your background. Ask about their recent placements. Anyone from your firm? Follow up with those people to see what their experience was like.

Sometimes, you will build a great relationship with your recruiter, recommend them to your friends, and invite them to your birthday party. Other times, they are simply a means to an end.

One more thing – start off the conversation by telling the recruiter that you’re interested in the MBA to IB/PE track. Why? Because this is not 2007 when a widget auditor could get a job at Goldman. The recruiter won’t be able to help you, at least not in the way that you think they can. They can’t just snap their fingers and land you on the emerging markets desk trading Brazilian bonds.

Why doesn’t it work that way? Ummm, do you READ the news? Unemployed bankers might as well be the new currency. Recruiters are beating disgruntled/underpaid/unemployed bankers away with sticks right now, all of whom (whom?) are more qualified than your undergraduate degree and 3 parts of a passed CPA exam.

Whiskey, stat.

Will a Floundering GPA Doom a Recruit’s Big 4 Hopes?

Ed. note: Have a question for the career advice brain trust? Email us at advice@goingconcern.com.

Hi GC,

I am interviewing with multiple big four firms but I am a little worried that if I receive an offer it may be revoked later on. I graduate in December with my masters and due to recruiting season and studying for the CPA exam I have not focused much on school. My current GPA is 3.5 and I feel that after this semester it will be in the 3.3-3.4 range. Have you ever heard of a CPA firm revoking a new graduate offer due to their grades slipping? I am getting a little worried. Thanks.

Sincerely,
Scared

Scared,
Welcome to the trials and tribulations of recruiting season. Unfounded rumors. Random interview selection. Lost sleep over imploding GPAs. Epic amounts of money wasted on free schwag*.

Rest assured, the drop in your GPA should not affect your eligibility. Consider this: your candidacy for a spot at a Big 4 firm consists A) your undergraduate GPA/degree B) any relative internships you’ve landed C) your first semester of grad work (the 3.5 GPA) and D) your CPA eligibility. I say “should not” without making a promise because the world could end tomorrow (Greece! UBS! HPV shots!) and recruiting could dry up but it’s not likely. Okay, UBS could be toast…

I’m not suggesting that you let things slide, either; you will need to provide a final transcript upon graduation. Assuming you took an equal amount of credits across two semesters for your Masters program, your first semester of a 3.5 GPA will be match up with a second semester of 3.2/3.3. Not the end of the world.

Keep interviewing, keep studying, and keep us informed of how things play out. Good luck on campus this fall.

*GC contributors will gladly accept schwag.

PwC Manager, Exploring New Career Opportunities, Accidentally Makes Entire Office Aware of It

When looking for a new job, discretion is important. Discussing your upcoming interview during the morning team meeting is typically frowned upon as well as making remarks like “I’m getting out of this godforsaken dump as soon as possible” within earshot of superiors. Another no-no? Not catching the “PwC [Your office] All” in the CC line of your response to a professional recruiter:

Caleb,

Woke up this morning only to find out that someone decided to look for new opportunities. Only problem is that on his reply he copied the entire office of 1900 people. Perhaps a lesson learned for all those auditors looking for a new job.


We’ve presented this in chronological order, so no need to start from the bottom and we’ve redacted the names to protect the innocent and those not too good with the email. As you can see, things get off to a pretty warm start:

[Anxious Recruiter],

I am very interested! How do we follow up on this?

[Anxious-to-get-the-hell-out PwC Manager]

The recruiter, sensing a live one, is on it:

I am submitting your new resume today. When can we talk [Anxious PwC Manager]?

The PwC Manager, sensing a little-too-eager beaver, starts balking:

[Anxious Recruiter],

I am committed all weekend, and will be unable to discuss until sometime on Monday. I hope that’s okay,

[PwC Manager]

Anxious Recruiter, being the early-bird-gets-the-worm type, plays it cool and suggests that they still get things rolling first thing Monday:

Not a problem [obviously less interested PwC Guy]. Can we set a time to talk on Monday? I get in to the office at 745am. I also have a meeting at 10am. I have 2 positions that are remote to discuss. I have already shared your resume with the client and they are interested.

Thanks!!

Sunday afternoon comes with no word from formerly excited PwC Manager and our recruiter starts panicking:

[PwC Manager],

Can we set up a time to talk tomorrow please? It is important!

Thanks!

It’s finally gotten to the point where the PwC Manager has to say, “Look pal, you’re freaking me out. Don’t call me, I’ll call you.”

[Anxious Recruiter who is coming on way too strong at this point],

I am currently traveling and will not reach my destination until after 10:30AM. Let me know what time will work for you after that, and I will try and make myself available.

Thanks,
[PwC Manager]

I know email is tricky but be extra careful with the more sensitive ones, mmmkay?

Did You Get a Steak Dinner and an iPad To Join Your Accounting Firm?

Hey kids! Have you heard? The accounting industry is on fire! Don’t all pile in at once, now, let’s make a nice single file line toward the piles of cash, work-life balance and cash prizes! Yes, cash prizes!

You see, Crain’s New York decided to publish a piece over the weekend called simply “CPAs are getting hired,” which leaves little room for interpretation. While there’s no denying you all have survived the recession far better than your brethren in the doomed and overpopulated field of law, it comes off as a bit irresponsible in my mind for Crain’s to make it seem like firms are so desperate for good help, they’re giving out iPads and cash.

It’s no wonder, then, that employers are aggressively working on quality-of-life issues and recruiting incentives. At the Metis Group, perks include flexible work hours, a firm-sponsored kickball team and full company payment to prepare for and take the CPA accreditation exam, according to Managing Partner Glenn Friedman. The firm also gives out iPads for stellar performance.

In Ms. Teibel’s case, she hadn’t even been hired when the generosity began. Before she started with Berdon in January 2011, the firm had paid the $4,000 it cost her to prepare for the CPA exam. And before the interview process, Ms. Teibel had been wined and dined by Berdon partners.

“All that attention truly meant a lot to me,” Ms. Teibel said. “In an economy like this one, I’ll feel secure for years to come.”

Ha! Ms. Teibel is in for one hell of a rude awakening long after the partners have written off that steak dinner and traded ass-kissing and CPA review books for long hours and endless piles of busywork.

In reality, $4,000 will barely cover the cost of a year of Becker classes and one exam attempt for each section, so what happens if she doesn’t get it done in a year and needs to repurchase review materials? Or what if she fails a section? Or all four? Sure it’s nice to have your review course paid for but the truth here is that few candidates actually pass the first time through, and my experience with candidates who had courses paid in full was that they tended to do worse on the exam than candidates who had to scrape together their own hard-earned Federal Reserve Notes to buy review materials.

And what’s this about work-life balance? Is there a memo I haven’t gotten? As far as I can tell, based on completely non-scientific analysis of the comments many of you leave here, the slave drivers haven’t let up on you guys and have no plans to do so any time soon. If you’re actually good at your job, expect to be worked into the ground as your expertise and talent are a commodity the firms are more than happy to burn. But hey, enjoy that free iPad.

I recommend reading the Crain’s piece in its entirety, if for no other reason than to scoff and wonder in what parallel universe this takes place and try to figure out how to transport yourself there immediately.

Between this and the Yahoo! fluff piece awhile back, if I were a 20 year old wondering what to be when I grew up, this number-crunching gig might seem like the only viable option in these uncertain times.

Prepare for the bum rush of ankle-biters, kids. Or at least start working on your kickball skills.

What’s Your Motivation for Leaving a Mid-tier Accounting Firm for a Job with Big 4?

Contributor note: if you have a question for the Going Concern audience at large (including the useless dbags) or our team of accounting drop outs and degenerates, please get in touch.

Here’s a tip if you guys are thinking about submitting a question: it helps to know your motivation if you are asking for our advice. It’s difficult to tell you what you should do without knowing why you’re trying to do it, unless you’re asking us an obvious question like “should I take X position to make way more money?” because in that situation we obviously assume you’re in it for the money. There’s nothing wrong with that.

That said, this indentured servSo let’s commence to helping.

I’m currently working for a large mid-size firm as a Staff II and will become a Senior I next year on a relatively large public client. However, I’ve been debating whether or not I should follow up on opportunities to work at a Big 4 firm if it means I have to wait an additional 2 years to become a Senior I?

I know from my friends currently working in the Big 4 firm that new hires work for 3 years at the staff level before being promoted to Senior I. In addition, I may also slip one level from Staff II back to Staff I when I change firms. I’d essentially be 2 years behind my peers as a result of going to the Big 4 so I don’t know if making this switch would help or hurt my career. Is it really worth losing that much time in order to get the Big 4 name on my resume? Should I wait until next year in hopes that I could be recruited as a Staff III instead?

Surely I’m not the only one struggling with this decision, does anyone else have experience with this problem?

Thanks and Best Regards,
-Staff II(?) Auditor

Well, Would-Be Staff II, as you are probably already aware, the Big 4 item on your résumé is going to blow any of that mid-tier nonsense you’ve got going now out of the water (don’t get butthurt, mid-tier-ers. It’s not personal). The actual practical application of what you’re learning at a mid-tier firm versus what you might learn at the Big 4 is irrelevant here; it’s all about marketing yourself, and you’re better equipped to do that with bragging rights slapped all over your work experience. You’re pretty much only going to get those rights from the Big 4.

That isn’t to say you can’t gain valuable experience from your current employer, so it comes down to what you want to do career-wise and in what time frame you would like to accomplish it. Have you passed the CPA exam already? Are you itching to get out of public altogether? It’s pretty hard to try and push you in the right direction without knowing what that direction is. What do you want out of your career? Money? Prestige? Experience?

Why did you start mid-tier in the first place? Are you happy where you are? Do you enjoy the work and feel fulfilled? What is it you think Big 4 can offer that you aren’t getting at your current firm?

If I were you, I would wait it out, gain additional experience, keep those Big 4 contacts and try to make the jump when you have a little more leverage. The more secure you get in your skill set, the better equipped you’ll be to leverage that experience into a more ideal gig with a Big 4 instead of starting at bottom a level above the clueless interns.

I would also have a candid conversation with whomever you’ve been speaking to at the Big 4 about your concerns. Don’t come off as a money-grubbing, work-averse dick but definitely express an interest in being involved with work on par with what you’ve been doing with your firm, not taking a step back. Feel free to embellish whatever paperwork you’ve been assembling up until this point into a full-blown PCAOB-compliant masterpiece.

I’m sure any number of mid-tier grunts who read this site religiously can talk you out of making the jump, and for good reason, while others will tell you to jump now and worry about how quick you ascend the Big 4 ladder later. A smaller firm allows you a better chance at truly learning your trade instead of simply going through the motions and checking boxes; think of mid-tier as stripping at the pole as opposed to mopping up the floors. You probably won’t put stripping at the pole on your resume but you’ll be gaining practical experience you can segue into a better opportunity.

I’m not clear on the opportunity you’re after here. Can you clarify?

Career Fairs: The Do’s and Don’ts of Emailing Recruiters

127. That is the number of unread emails in my inbox at this very moment (Wednesday @ 2:28pm). Two meetings, a list of high priority to-do’s, and a number of phone calls to return when I hit my desk before 8:00a this morning. What’s the point? We professionals are busy creatures and as much as we appreciate the thoughtfulness of a “thank you” email when we meet you at a Career Fair, we don’t want to hear about your interest in IFRS issues. In an effort to build off the advice in the comments of Monday’s post, here are some things to keep in mind before hitting send on your thank you email to us.


Do: Keep it short, but personal. When we attend a career fair, we can meet upwards of 200 students in an afternoon. Even if 25% send emails, that’s 50 interspersed amongst our regular business inbox. Keep it short, to the point, but also relevant so it doesn’t seem like you sent the same message to every firm. Tip: reference something professional the two of you spoke about, reference to the recruiter what professional you met, or thank them for the invite to an event later in the week; something to make the connection to your brief in-person encounter.

Don’t: Regurgitate your cover letter. It’s a “thank you” email, not an opportunity to over-sell your candidacy.

Do: Triple check your grammar. Nothing takes you out of the running faster than a misspelled name or the incorrect verb tense in a sentence. Sure, accountants are notoriously bad with spelling and grammar, but leave the misspellings to the managers. When you sign off, go with “sincerely” or “regards” followed by your name.

Don’t: Make us feel old. Mr./Miss/Ms./Mrs. are all off the table. We are not our parents, capisce? More importantly, you need to put yourself on the same level as us. You want to be treated as the adult you are, so speak to us as equals. This goes for everyone up and down the hierarchy (first-year professionals to partners). We’re all on the same level when it comes to addressing us in emails.

Do: Capitalize. keep the lowercase sentences to yourself. and your texting buddies. okay? okay.

Don’t: Attach your résumé. Submit through the website like the recruiter mentioned 32 times.

Do: Keep it light. Remember – we enjoy spending time on campus and interacting with the future of our firms. We had a great time meeting you – remind us of that.

Don’t: Get offended if you do not receive a response. Oftentimes the professionals will just forward the emails to the recruiter to keep track of. You wouldn’t expect a “you’re welcome” note if you were mailing a thank you note, would you?

What Can a Big City Big 4 Auditor Expect at Small City, Second-tier Firm?

Back with another edition of “Decide My Life for Me – Public Accounting Edition.” Today, an antsy Big 4 employee in a large city wants to know if moving to second-tier firm in small city will mean a demotion or cut in salary.

Do you have trouble matching your socks? Need help making sense of your cryptic performance review? Are you worried that someone with a bun in the oven is also capable of doing their job? Email us at advice@goingconcern.com and someone will try to straighten you out.

Back to our “Should I Stay or Should I Go” du jour:

Hi,

I was curious if you had any information on employees jumping from Big 4 firms (auditing) to upper-mid-tier (i.e. McGladrey). Do you find that they are often promoted? I am currently in a large city and am uninterested in staying in the city long-term. I was thinking of moving to a 300,000 person city with some firms like McGladrey, Grant Thornton, etc. If I am jumping ship as a senior or manager, where should I expect to come in at? Same level? Same salary?

Thanks
Jumper

Dear Jumper,


Had it with Big 4 life, eh? Let me guess, the groupies got to you, didn’t they? Every damn time.

As to your inquiry, here’s the deal – you won’t be promoted if you decide to accept a position with McGladrey or Grant Thornton. Why? There are a few reasons: 1) You don’t have the experience; 2) You don’t have the experience; 3) You don’t have the experience. We all know that Big 4 auditors think they’re pretty special and that anyone who doesn’t soil themselves after looking at their stellar résumés followed by an immediate job offer is simply stupid. So it comes as a shock to many when this scenario doesn’t play out. As far as second-tier firms go, they definitely want Big 4 talent when they can get it but they’re aren’t about to throw you a bone because you worked at E&Y Chicago or PwC New York.

What you can expect – if you’re senior associate or a manager at a Big 4 firm, you can reasonably expect to be offered (not a guarantee, obv) a similar position at GT or Mickey G’s that you currently have. If you’re moving to a smaller city, you could see a similar salary but you should not expect a raise. You’ll receive the market rate for your position in your new city. The firm may put you at the high range of pay for your group but be prepared to be reminded of that fact come merit increase time.

Anyone made a similar move with different results? Share below.

Big 4 Recruiting Season: Career Fair Tips

Got a question for the career advice brain trust? Email us at advice@goingconcern.com.

Good afternoon, GC’ers. I’m going to be devoting posts to general campus recruiting advice this week. College students – listen up. Already-employed cohorts – chime in with your own advice. Today I’m going to cover Career Fairs, everyone’s favorite meat market.


Questions you should be ready for – “Did you submit your resume through Career Services? Did you submit our firm’s additional paperwork? When do you graduate? What office are you interested in? Will you be CPA eligible up graduation? What practice are you interested in?” If you know what practiced you’ sure to have your paperwork submitted through the necessary online means. Don’t know what you’re applying for? Read below…

Know what you’re applying for – Nothing worse than talking to a student who is, “Uhhhhhhh, you know, I’m open to anything.” To me, that means you are unfamiliar with my firm’s services and you’re standing in line like a lemming because you know it’s good for you. Do you homework ahead of time about what practice groups are being targeted on your campus. Here’s a hint – focus on the job posts that are on your Career Services site; this is what each firm is focused on and actively recruiting for from your particular school. Don’t see Transaction Advisory Services listed? Probably ain’t gonna happen.

Suit up – Take a piece of advice from Barney Stinson and rock a suit to the Fair. It doesn’t need to be an expensive suit; heck, it doesn’t even have to be yours. Personally, I’m not a fan of the trend of suits becoming the norm at career fairs but it is better to match your competition than to assume “different is better.” Accounting firms are not Google; they breed a conservative culture. Play along, at least until you have an offer.

In an effort to avoid this becoming an Esquire-like blog post, I’ll keep my suit advice simple.

Ladies: Make sure your blouse is comfortably but securely buttoned, and take the potential of taller recruiters (aka wandering eyes) into consideration. Also, avoid hot magenta or any other color that would be included in a pack of highlighters.

Gents: That Calvin Klein tag on the outside of your jacket’s left sleeve? Yeah, that’s supposed to come off. Also, be sure to open your pockets and jacket vents before going to the Fair. It’s always awkward to see a guy trying to stuff a business card into a sewn up pocket.

Relax. Don’t sweat it. – Really, I mean that. Few things are more repulsive than shaking the moist hand of an anxious student. It can get hot at career fairs, I know. You can do a couple of things to chill out if you have a sweating problem: 1) Hold you résumé folder in your left hand and keep your right hand out of your pocket. This will let your hand breathe. 2) Small talk the person next you – it will help both of you relax. 3) A good swipe of your right hand on the back of your leg when you know your turn is coming up is totally fair game.

Always mints, never gum – There’s a good chance you’ll have to wait in line at the Big 4 booths. As you’re waiting in the mass herd of people, pop a few Tic Tacs or mints (avoid Altoids – too strong). They’ll help you relax and will be gone before you start speaking to the recruiter.

Business cards = cheat sheets – Ask for business cards when you meet with the professionals at the career fair (note – if they don’t have any, just remember to get their name so you can take notes later). Generally speaking, they are alums from your school and are excited to be back on campus and they can be a great resource going forward. They will also be at other events, even as early as the same week as the career fair. In between visiting booths, take two minutes to scribble notes on the back of the business card to help you remember who they were. “Black hair.” “Red glasses.” “Talked about baking.” “Mentioned she was an Eagles fan.” Reviewing these cards prior to next week’s firm-sponsored social event on campus will help you remember the connections much better.

Find out when they’ll be back – The five minutes you spend with the recruiters and professionals at the career fairs are not enough to earn yourself an interview. It is imperative you make personal connections with members of each firm. Beta Alpha Psi presentations. Cheesy happy hour mixers. Whatever. Go, shake hands, and laugh at their jokes. Earn yourself an interview.

Remember your manners – Thank everyone for their time. As happy to be on campus as they may be, many of the professionals will put in hours for work back at their hotels later that night. It is not always easy for them to take time off from work to make the trips back, so have a little respect for their time and their neglected inboxes.

Have anything to add? Email us or leave your comments below.

New KPMG Associate Wants to Know What the “Deal” Is with Working Mothers

Yesterday we discussed the plethora of accounting firms that are pro-mom, according to Working Mothers. It seemed like a pretty simple idea – treat moms good = win; treat moms bad = Christ, what kind of hellhole firm are you running? Despite this elementary idea, there still is some questions out there:

GC,

On the subject of working mothers…what’s the deal with that? I’m a first year at KPMG and there is another first year who is already pregnant and taking maternity leave soon.

My question is, does she really get promoted on the same schedule as the rest of us? I get the importance of allowing some flexibility for working moms but does it make any sense to treat someone the same as the rest of us when it comes to raises and promotions when they’ve missed out on all the work? I’d love to hear what other readers have experience with this.

Thanks,

KPMG First Year

Well, the “deal” with working mothers is that not having policies that allow them to pursue a career and having a family is what I like to call “doing shitty business.” As to your specific question, the details aren’t clear. It’s not as if she will be on maternity leave for 6 months. KPMG offers up to 9 weeks of paid maternity leave, according to the firm’s profile on WM. That means that there are 43 other weeks (that assumes no PTO, obv) that she will be working. That doesn’t really qualify as “miss[ing] out on all the work” as you put it.

Those who are evaluating her performance should have a pretty good idea whether or not she’s capable of being promoted. Besides, it’s a jump from A1 to A2, not exactly a huge change in responsibilities or expectations. Furthermore, your raise from A1 to A2 isn’t going to be anything to write home about so getting worked up about whether or not she’s getting the same 11% bump as you isn’t worth it.

Yahoo! Exaggerates Accounting Degree’s Hotness

Check out Yahoo! on in-demand degrees, some of you might recognize #3:

Degree #3 – Bachelor’s in Accounting

The curriculum in this hot degree could prepare grads to pursue number-crunching accountant career opportunities. Courses generally cover basic accounting concepts, preparing financial statements, and research of real-life cases, according to the College Board.

Hot Factor: The numbers don’t lie. The Department of Labor projects 22 percent growth in accounting careers between 2008 and 2018. Career opportunities can include everything from working for companies or individual clients, according to the Department, which notes that the averageccountants was $68,960 in May 2010.

Click to Find the Right Accounting Program

If you follow the link to “the right accounting program,” it will take you to an email form so you can be mailed great educational matches for you, apparently.

It appears Yahoo! ran almost the same accounting advertisement before, calling accounting the #2 career built to last, with an average salary earning potential of $67,430.

The BLS says this of accounting’s unusual makeup in its report (keep in mind it was published in May of 2009):

Although accounting, tax preparation, bookkeeping, and payroll services employed a relatively small percentage of all bookkeeping clerks, this was the second largest occupation in the accounting services industry, representing about 11.4 percent of industry employment. (See table 6.) Accountants and auditors was by far the largest occupation in the industry, with 286,110 jobs making up about one-third of industry employment. Tax preparers was the third largest occupation in accounting services, with employment of 61,160. Most of the other large occupations in this industry were office and administrative support occupations.

In that same report, the median salary for bookkeeping, accounting, and auditing clerks was $33,800. Maybe I am reading the statistics wrong but knowing a career has “an average salary earning potential of $67,430” is not the same as hearing that the national average for that career is $33,800. Yes, where you live matters. Yes, your lifetime earning potential is influenced by lots of factors that make you notably non-average, like how hard you try, what skills you pick up along the way, how good you are at playing the game…

Anyway, here’s a snip from the report to see how it all pans out:

I still don’t see how those numbers work out to this being a reason those who are desperate to work should pile into this career option.

Yes, if you are a money-hungry, elite accounting program prick (I’m not berating you, in fact I’m in love with a lot of you, your ruthlessness is hot), you will probably come out of the gate making those $33,800 losers fetch your coffee but average is just that, average.

I find it sort of reckless on the part of Yahoo! to post numbers like this without the context of actual prospects in accounting and the caliber of individual needed to thrive in the sort of environment accounting provides. I say “caliber” with the most seriousness I can muster, I assure you.

Are the Big 4 Starting to Demand Higher GPAs From New Recruits?

Ed. note: Got a question for the career advice brain trust? Email us at advice@goingconcern.com.

Hi GC,

I am a longtime reader of this website and it has never failed me so here I go once more – some Big Four positions just got posted to our school’s résumé submission website here at University of Illinois at Urbana Champaign. PwC internship and full time positions have a minimum required GPA of 3.4 while EY is 3.2 and KPMG is 3.0. Deloitte’s have not been posted. I know our school isn’t the greatest in accounting [Ed. note: huh?]and the public accounting profession pales in comparison to investment banking and management consulting but a 3.4 MINIMUM GPA to apply??

Last year’s minimum GPA was 3.0 to apply which was understandable but this new recruiting team from PwC increased the GPA by 0.4. Do they feel like someone is throwing out GPA points like Bernanke is throwing out dollars? Would it be kosher to change my 3.37 GPA to 3.4/4.0 on my resume to qualify for on campus interviews?

Best,
Drinking Beer in Champaign

Dear DBinC,

I’m always glad to throw a loyal reader some freebie advice. Thanks for checkin’ in with us.

First of all, forget that last year’s GPA requirement was 0.4 points lower; last year is irrelevant. Put your game face on and rise to the challenge.

Yes, absolutely round your 3.37 up to a 3.4. That’s fair game. In fact, this is a non-issue.

Also, take two minutes of your time to figure out what your major-specific GPA is. Should that be higher than the 3.4 cumulative GPA, add it to your résumé as well. There’s no reason that Intro to Woodcarving should hurt your chances of interning with one of the Big 4.

Why are the GPA requirements rising? To weed out résumés, obviously. Why look through 500 when you can whittle things down to 400 by cutting out the bottom? If you fall into this range, beg, borrow, and NETWORK your way to an interview. Circumstances are individual – if you have a story or reason as to why you’re on the cusp, track down the recruiter (not a audit/tax professional) at the career fair and state your case. Hard work can be rewarded in cases like this.