UW_Husky88

Hi,

First of all, I want to start with a note: although I recently made a thread stating that I don't want to do accounting, I've changed my mind since I've realized that I eventually want to be a top level manager, for which accounting is a good background to have.

My goal in life is to eventually become a financial controller or other high-level manager for a company (if I'm really lucky, CFO, but I want to be realistic). Therefore, I know for sure that, with my accounting degree, I want to be in the private industry, and that I'd hate working for the Big 4 (long hours doing mindless work is not appealing to me). The thing is, people here keep saying that you HAVE to go to the Big 4 to get the good jobs.

So here are my questions:

1. If I were to start off in the private industry, how much would that hurt me in terms of scoring the financial controller position that I eventually desire? Is the pay that much worse than the public sector? What appeals to me the most about private is the type of work, since it has more to do with actually using the numbers to aid management rather than just reporting numbers, but is it worth taking the hit in terms of a future paycheck to do something I enjoy more? What would my career path be if I take this route?

2. I hear that the CMA is gaining prestige, but is it a replacement for the CPA, a useful compliment, or neither? Is there any other degree/certification that would be useful for the private industry?

3. If I were to get both the CMA and CPA, which one would be better to get first?

thanks, and sorry for the long post, but I would greatly appreciate if you can help me out!

creamgethamoney

if you want to be a CFO, you're probably going to want to go to a Big 4 at least initially to get some experience...

arajput23

Hey I'm in the same situation as you and have similar goals planned out. I'm not sure how to answer your question, but I've talked to a couple professors and they say it is better to get your CPA first because starting out in public accounting you will have the upper hand. Also, I've heard without a CPA you are limited to your ability to climb up the ladder, not sure if this is true but it probably is. Also, by obtaining your CPA first you can waive the first section on the CMA exam which is a big plus. That's my plan and I think its a good way to go.

UW_Husky88

bump, anyone else? What about the experts in accounting, like taxguy and all? Can you please help?

Future13

Question.
What if you dont make it into big 4 from the start BUT you will be hired by some other accounting firm that is in the top 20 around the world.Will that give you the neccesary experience for management position?Also will that give you a lot of opportunities in your future life?

openedskittles

I've also heard to get a CPA before CMA.

Future13, you won't have any "future" to worry about if you don't make it into a big 4! (sarcasm)

cbreeze

Don't forget that the big4 will give you the necessary auditing requirement for the CPA. If you look at accountant job ads, most require big 4 experience.

Future13

Well what if after college you just dont get accepted into big 4.They just dont hire you for some reason.Any suggestions what you need to do then?

yelena

It is nice to make goals because they give you a path to follow but keep in mind that no matter how beautiful your goals are, they might not work out exactly as you wish. If that time comes up, be realistic and don't let your failures bring you down and don't digress on your past mistakes. Learn from them, then move on

yelena

if you were born an entrepreneur but did not make it in your so-called big 4, you will come up with an innovative idea to start your own career/firm.

commentcomment

getting into the big 4 is good for your resume and opens a lot of opportunities for you. However, working in smaller firms isn't a bad start.

a CMA is basically a CPA but one is for public one is for private. no difference in terms of which one is better but obviously the CPA is easier to recognize.

a big misconception about becoming a CFO is, the CFO is not the next level after being a comptroller. a comptroller manages the accounting divison while the CFO is in charge of the entire company's finances from a more strategic point of view. They are not related in terms of what type of skills you need but being a comptroller makes you a good candidate if you have other financial background for CFO.