taxguy

As I have been reading this thread several things popped out at me that I felt needs clarification.

First, although working for a big 4 accounting firms has its benefits ( especially national prestige), you can make a lot of money and, in my opinion, get better experience working for a strong, midsize, local firm. Large firms tend to pigeon hole kids for a while. Moreover, these firms focus on large and international firms. Local firms do a lot of varied work and could provide even better experience to new graduates.

Moreover, if you specialize in an area, such as tax exempts, litigation support, forensics etc., you will be very well needed by the local firms. Large firms might have a number of specialists in each area. No one person becomes crucial.
This point becomes crucial if you want to make partner. No one makes a student a partner unless they have talents or skills that the firm deems ESSENTIAL. Having a specialty is a great way to be needed!

Also, with smaller firms the best way to get ahead is to market. You should start focusing on acquiring new clients around the second or third year. Your first two years should be focused on passing the CPA and developing skills needed by your firm. I can tell you that a good rainmaking accountant ( one who can bring in clients) is LOVED by everyone. Join clubs, do volunteer work, take up golf. The key is to meet people and get the "word out" about the firm.If you have the skills, notify the various TV and radio talk show hosts that you will serve as an expert. You might even send them points of discussion about new issues that are arising today. I do that all the time and became a "Fox Business News expert." It really isn't that hard to do.

In addition, you can make plenty of money plus have a more stable life working for a mid size accounting firm. Believe me , a successful mid size firm can make a lot of money for the partners. Don't think that only large firms have a monopoly on big bucks.

Finally, accounting is an ever-changing discipline. This took me a while to really understand since I don't like change. However, people are paying you,and paying well, for your constant, up-to-date expertise. There are always new pronouncements by the AICPA , courts, IRS , auditing standard boards etc. You must, must , must always keep up with the changes. Did I say that you need to keep up with the changes?

Your goal as a professional should be "constant and never ending improvement" (CANI). It is a pain sometimes to do this and to digest all of the complicated changes. However, that is why competant accountants can earn the big bucks.