wowlol123

big4 salaries start at anywhere from 45-55k? how common is it for people to get to 100k+ in 5 years?

Do CPA's with big4 exp ( audit/tax) have favorable chances at top15 MBA programs? Assuming the rest of the application is with relevant range. Do I-banks hire cpa with big4 exp as intern/FT hires during/after an mba?

southpasdena

it is highly unlikely you will hit 100k after 5 years.

DaNDHSIrishGuy

So you don't have to start out at a Big 4 firm to be a big name/rockstar in accounting, right?

-Can you start at a Big 4 firm anytime in your career? If so, will you still have the same chance to one day become a partner, if you can bring in many clients?

-Does anyone reject a Big 4 offer to go to a different firm?

-Can you go to a small AACSB school in your hometown to save money and transfer to a good accouning school in "your desired place to live?" Here's the run down, basically go the University of Memphis for free and get my B.S. in accounting. I would be miserable living in TN, especially Memphis. Once I get my B.S. go to Baruch College or Northern Illinois for my MAcc, because I want to work for a Big 4 firm in either NYC or Chicago; they are both my favorite cities. Although, I do have some concerns. I'm afraid that I won't be able to get a Big 4 offer if I don't spend my whole college career at one college. Basically, when do Big 4 firms recruit the most? I'm afraid if I transfer to a great school near one of those two cities; it will be too late to be recruited, since it will be my last year...

DaNDHSIrishGuy

sorry for the unclear, long post. My finger were killing me, cuz I use an Iphone for everything on here, and I had to rush things before I got carpel tunnel syndrome... (sp?)

If I left you unclear what I was asking, please ask, and I will clear my question s up...

Thank you, you're a saint taxguy...

southpasdena

1. You can get hired by the big 4 at various stages of your career, but you may drop down a position and/or receive a reduction in salary. This also embraces the opposite of what usually happens, but it is a viable alternative. People from small regionals to large nationals firms move to the big 4. It is easier to start at big 4 and move to a smaller firm

2. People reject the big 4. I have met people that have rejected the big 4 for anything from GT down to a small 50 person regional. Surprisingly those that rejected where the most sought after by the big 4 with very high GPAs and great social skills.

3. You can get your BS and go for your masters at northern Illinois, uic, or baruch. Get good grades (and GMAT) and you can greatly reduce your out of state costs. Good grades allow you to teach, help with research, etc, thus you get paid and often times, your get instate tuition. Must as well do this since 150 units will be required in NY (clueless about Illinois). And you have the option of graduating faster during your course to your bs.

Big 4 is not everything. The people who chose to reject realize that.

taxguy

Let me emphasise, since I keep seeing posts recommending IB, law, medicine. engineering etc. for making a good living. A good accountant can make a LOT of money. It certainly isn't unusual to be earning in excess of $100,000 a year after several years in the industry. If you make partner, have a successful practice or become a manager in a firm, you can easily make $150,000-$250,000 a year and MORE.

As one poster noted, accountants are traditionally shy about espousing their earnings. I can tell you that many partners in successful mid-size firms earn in excess of $400,000 of net income per year. Partners in successful large firms can earn $800,000 a year and up. Don't let anyone fool you: accounting can be a very lucrative career IF you are competent and probably more lucrative than most of the careers noted above.

polska

ok so im interested in accounting as well and i would really like to know the timeline for all of this.
the internship is the summer between junior and senior year right? then you graduate, then you get into a msa program, then you reach 150 credit hrs, then you take and pass the cpa test and join whoever you interned w/?

taxguy

Actually, you usually start working for a firm while you are studying for the CPA.

Dawgie

Starting up your own firm = Big bucks.

taxguy

Dawgie, let me change what you said to: "Starting up a firm could make you big bucks."

taxguy

Let me address one major question: If I don't major in accounting,but majored in something else ( insert your major), can I still qualify for the CPA exam?

Answer: You do NOT have to major in accounting. You do, however, have to take certain courses in order to make you eligible to take the exam. Although it is a uniform exam, the course requirements vary by state. Thus, you need to check with your state board of accountancy. Some states require two quarters of economics such as New Jersey. Some require a course in ethics ( Maryland). Also, most states require at least one course in business law and marketing, and some also require a course in management and finance. In addition, you need to have a number of accounting courses taken at schools other than Junior colleges. You generally need one year of intro accouting, at least two semesters of intermediate accounting, one year of auditing, one year of cost and at least a semester of tax. Overall, states usually require between 24-30 credits of accounting courses.

Also, even if you majored in an unrelated major, you could always get a masters in accounting which should qualify you for the exam. However, you really need to check with your state board of accountancy to check out any additional required courses besides accounting.

coveryfire

How can I find out which Colleges are AACSB (accreditation and regional accreditation) ??

The site was not helpful.

taxguy

The AACSB site does list all of their member institutions. I think you will find it under the categoy members. When you do a search, don't put in any state;thus, it will access all members.

ferryboat10

It's the top quick link on their front page

Or try something a little more difficult: click Accreditation, then Accredited Institutions

freakonomics

Is it common to try and get an internship after your freshman year for the summer ?