<p>How is the work life balance at a small public accounting firm?</p>
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<p>Varies from firm to firm. If your state’s CPA society has local chapters, go to a chapter meeting and chat people up - the smaller firms are the ones who usually send people to those meetings.</p>
<p>It also varies between tax season and the off season, if you’re in tax.</p>
<p>Is it better than big 4? </p>
<p>I just don’t want to work more than 40-50 hours a week, I hear this is possible with corporate accounting, but that the pay is very low.</p>
<p>My impression is that, on average, an entry-level local firm new accounting grad would be required to work fewer hours than an entry-level Big 4 new accounting grad. But statistics are useless when applied to one person.</p>
<p>You’re going to get paid less to work 40 hours a week than you would be to work 80 hours a week. Assuming that required overtime hours are worth a 1.5x premium when calculating an exempt employee’s salary, the 40-hour guy would get 40% of what the 80-hour guy would.</p>
<p>Alllyphoe, notes,“My impression is that, on average, an entry-level local firm new accounting grad would be required to work fewer hours than an entry-level Big 4 new accounting grad. But statistics are useless when applied to one person.”</p>
<p>Response: It depends on the firm, but I don’t think this is generally true. Although the Big 4 usually pays higher starting salaries, they don’t pay for overtime. Smaller firms have been known to pay for overtime, so the salary received at year end will approximate what big 4 firms pay.</p>
<p>Can someone plz answer my previous question:</p>
<p>If you get ur masters of accouning from a CSU does that mean you just wasted ~$50k and wont work at a job that pays more than $12/hr or does it mean that you are just less likely to get hired by a big 4 but still have a decent shot with smaller firms. Assuming your GPA and other credentials are nothing out of the ordinary.</p>
<p>Thanks for the reply,</p>
<p>I believe I have high enough credentials to get into Miami University, I’m not sure how I’d do scholarship wise though. I’ve been looking at Ohio Northern University. They seem to be pretty respected around here and they are AACSB accredited. They want me to run track there and I may be able to get some money thrown my way for going there. My question would be if it is a lot cheaper would it be worthwhile going there? Or would I not make as much money because I haven’t graduated from a top school like Miami? Thanks!</p>
<p>Taxguy, pay for OT may be a regional thing - local firms in my area don’t pay overtime. The one I’m most familiar with has a required amount of tax-season billable time, and any billable time in excess of that can be taken as comp time (additional vacation) during the off season. </p>
<p>(I’m not sure how your posting was responsive to the required-hours issue you quoted, though, so it’s possible we’re just each misunderstanding what the other is trying to say.)</p>
<p>My advice is that if you don’t want to work more than 50 hours a week then public accounting and corporate is not for you. You wouldn’t last 6 months with an attitude like that. Some firms pay overtime but that is usually only at the staff level. The only accounting jobs that don’t work more than 40-50 hours a week are in government and probably only at the lower levels. So if that is what you want go right ahead but with a 40-50 hour mind you are headed for failure in industry or in public. </p>
<p>The masters degree doesn’t matter that much. What matters is CPA eligibility, grades, and school name. That being said personality matters a lot. A person who can get work done but who has a ****ty attitude will affect the work of everyone around them! </p>
<p>Taxguy I did some consideration these last few weeks and have decided law school would be a waste for me financially and occupation wise. The legal market is a nightmare right now and we just hired 2 associates with the JD-LLM in tax from tier 1 schools. Right now I am reviewing some of their compliance work and wow I am surprised at how they cannot even SALY accurately. </p>
<p>The education diversity in the tax field is really fascinating. We have one guy here who is a manager and he is the same age as the JD-LLM guys. He was licensed under the old california requirements which only required a 120 unit BA. So he is the performance manager for these 2 attorneys and they have literally 4-5 years more years of formal education than him. </p>
<p>If I do go back to school it will be for the MST. My firm will pay for that part time so I guess that is a better option. It is rather disturbing to see a JD-LLM Tax new hire getting paid 6k more than a BA-CPA eligible hire when they have 100k+ in student loans.</p>
<p>Hello,</p>
<p>I’m completing my second bachelors degree which is accounting at an online university. It’s somewhat a pass/fail classes. </p>
<p>My question is: If I finish that degree, and pass the CPA exam, BUT no work experience, what kind of job prospect am I facing? how about graduate school in accounting, how many schools will accept that kind of record?</p>
<p>thanks</p>
<p>So even corporate accounting is going to have the 80 hour grind?</p>
<p>Yes, I agree with Valleyaccountant, which is the sentiment I wanted to convey in my prior post. If working over 50 hours per week during tax season is undesireable, you don’t want to work in public accounting. I would recommend getting a job with the government or with a corporation.</p>
<p>In some organizations they typically work 50-60 hours a week in the accounting department. In some organizations they have a 40-50 hour work week. Now all of this is dependent on a number of factors such as rank, culture, department, and location. So in corporate accounting if you only want to make 50-70k and you don’t want promotions or care about the work you do there is a chance you can find a place where you can work 50 hours a week or less.<br>
That being said I would advise you to get out of industry or public accounting if you want 50 hours or less a week. Even my counterparts in industry work 60 hours+ for deadlines like filing a 10Q or working on an acquisition. Government at the lower levels is the ONLY place I know that you will never work long hours. That is it! Even many of the staff I know in mid-large corporations work long hours. </p>
<p>Gradius I don’t think accounting is for you go be a teacher or something. Don’t ever tell a recruiter anywhere about this 50 hour or less mindset of yours. I wouldn’t give you an interview for anything if you said that to me. Keep in mind the government has a hiring freeze in most areas right now. You might try the CA board of equalization or the Franchise tax board. I have friends there that work 8-4 M-F. This is at the lower levels though. Managers and higher still work 60 hour weeks.</p>
<p>I know this probably been answered already, but if your school doesn’t offer a specific accounting degree, does it matter what major you do as long as you take the required accounting courses that are required for MAcc programs?</p>
<p>If you know that it has been answered, why do you still ask?</p>
<p>Hi, I’m an accounting major. </p>
<p>I’m in my first semester of my second year. I’m taking financial accounting this semester. I wanted to know when did you guys (Accounting majors) decide what you wanted to do with your accounting degree. I have a feeling I’m not gonna like audit and that I may be interested more in tax. But again, I’m just taking my first accounting class so I’ll obviously have more knowledge of the both and be able to make my decision from there.</p>
<p>Another thing I want to know is what electives have you accounting majors taken, because for my free electives, I’m gonna take accounting electives but not sure which ones would benefit me most.</p>
<p>The real world does so anything that counts for the CPA requirements of your state is what will benefit you the most. What you learn in school will help for your exam but what you will do in the real world has little to do with what you learn in school.</p>
<p>I’m taking financial accounting 1 right now and failing (59 and 61). Should I just withdraw from the course?</p>
<p>I’m planning on switching to finance, so I won’t retake the course.</p>
<p>If you’re at a community college, you’ll have to take financial accounting if you’re a business major. If your main concern is your gpa, I would just withdraw from it. But I’m assuming your semester doesn’t end til late-ish December so you should be able to get a passing grade by then.</p>
<p>Valley, what do you do if you don’t mind me asking.? And when did you decide which direction you were gonna go with your accounting degree.?</p>