pokey07

Yeah Fairleigh Dickinson is an option right now. I'm actually trying to find out if their program places people coming from my path (non-accounting background) into the Big 4. If they do, I'll probably enroll right away.

I just really want to get into a good firm, and want to make sure the school I end up paying $30k+ for gives me this opportunity.

cjones120

zub88,

I also plan on majoring in AIS (via a double major in MIS and Accounting).
I talked to one of the accounting advisers from my school (University of Arizona - Eller College) and she said that there is an accounting firm that exclusively hires people with that double major from our school.

AnyColour

What positions are there for accounting grads with CPA's where they can work at the office with minimal client/outside people interaction and minimal/no travel?

I've heard that auditing is the most people and travel intensive, and those in tax mostly work at the office? Is this right? How about other positions like forensic, etc?

Dawgie

Tax is what you are looking for.

jdnely

AnyColour, you can also look into a management accounting position as an industry accountant. Work for 1 company and only deal with their books, prepare budgets and organize statements for within a company. The pay may not be as good, but the track up the finance department can be semi lucrative if you are good at your job and can interact well within the company. From what I hear, tax positions are being cut at firms right now, but depending on when you graduate, it might not matter.

Thetaxdad

If you plan on working in public accounting and want to move up in the ranks you will need to be able to work effectively with clients.

creamgethamoney

When you say work as an industry accountant, isn't that basically the same as working in the corp finance department of a F500 company or something? Is there a major distinction between being in finance and being an industry accountant, because it seems like the two tracks are similar.

Also, you say it isn't lucrative, but couldn't you become senior accountant and move up within the company? Why do people say private accounting doesn't make good money typically?

Dawgie

It's not good money compared to public. Also the raise and promotions are typically slower.

jdnely

"In-House Accounting
Whether publicly traded or not, every company has internal accountants to set budgets, manage assets, and track payroll, accounts payable and receivable, and other financial matters. For medium and large firms, the internal staff works closely with the public auditors at the fiscal year-end and with senior management and IT staff year round. Controllers and CFOs at smaller firms often enjoy even more important and influential roles in running and developing the business. These jobs are just as demanding as those in public accounting."

It is far less lucrative to be in managerial accounting which I figure to be due to less risk involved. Statements prepared are for company eyes only, plus the work-life balance is extraordinary.The better your are at your job, the less overtime you are likely to do... Finish with a client at a public accounting firm and move onto the next... Keep your numbers right and up-to-date at in in house job and you can sleep well. This is extremely generalized, but you get the picture.

creamgethamoney

Can't you work your way up to controller or CFO eventually though, or do you need to go public to get the work experience necessary to do so?

jdnely

Yes, but as Dawgie said, the raises and promotions come slower. I personally wouldn't go into managerial accounting solely to become CFO. It is an opportunity cost here, work less hours for less pay, or more hours for more pay. If you do the public accounting route, your personal life will suffer for a minimum of a few years but the financial reward will be higher. I am not even out of school yet and I'm married, I don't want to spend a few years of my early married life away from my spouse, so it is becoming a difficult decision for me. I am not out here to get rich, just wealthy enough that my family doesn't live paycheck to paycheck.

I hope Taxguy or ThetaxDad can chime in here and correct any of my bad information.

taxguy

Personally, I think that working as an accountant for a corporation isn't the right choice especially right out of school. My reasons are that the pay is usually mediocre, the promotions are poor, the professional experience is a lot more limiting than working for an accounting firm, and finally, they tend to layoff accountants at corporations.
More importantly, the folks who usually get the top CFO postions are those that were usually with a top accounting firm first. The corporations usually hired them out of the accounting firm.

In my opinion, working first for an accounting firm is better in some ways than working for a corporation. The accounting firms have better pay and better chance of making much more money in the long term. Moreover, you will get much better and broader based accounting and financial experience than working for a corporation. In addition, if you play to become an educator, may colleges want their accounting faculty to have accounting firm experience. Finally, if you work for a big firm, you will have a change to be hired by their clients at a much higher postion than you would probably get working for that firm to begin with.

I should note, however, that working for an accounting firm is tough. You really need to be a hard worker and be very professional about everything you do.Many folks don't make it in public accounting, which is why accounting firms are usually hiring each year.

The main advantage of working for a corporation over that of an accounting firm is that the work is usually easier. There usually is less travel, and you might be able to get stock options. Frankly, if you want better hours and less stress, I would suggest that you work for the government as an auditor or in enforcement such as with the IRS. The money is quite good and so is the job security.I would definitely advise taking a government job over that of a corporation.

I should note that there is a fourth option: becoming a professor. You would need a PHD,but the demand for accounting professors is excellent. Moreover, accounting professors with PHD make more money than their professional counterparts. It isn't unheard of for full professors of accounting to make in excess of $150,000 per year plus all of the college perks. Please note that many colleges want not only those with PHD but also CPAs. This means that you will need to get some experience with an accounting firm too.

jdnely

Taxguy, I pulled this off of CPA Requirements

If this is true, then you would no longer need to work at a public accounting firm to become a CPA. what do you think? Obviously big4 accounting will be beneficial to your career.

Thetaxdad

taxguy summed up my thoughts as well. Bottom line is that public accounting offers many more opportunities if you go into it right away, and the trade off is that you will work a lot harder.

jdnely - don't let public accounting scare you away just because you are married. Yes, the bigger firms will require a ton of hours that would eat up a lot of family time. However, you might want to look into a regional or mid-sized firm. Often times the hours are long only during busy season, and with overtime and bonus you can end up making nearly the same as you would working for a Big 4 firm. The exit opportunities might not be as stellar, but if you plan on staying in public accounting for your career, it might be something to think about.

Dawgie

Agreed, check out regional to mid-sized.