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 Topic: Do I have a shot? ( Topic Closed)
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chefb
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Joined: 07 Feb 2009
Location: United States
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| Posted: 07 Feb 2009 at 16:55 | IP Logged
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I am looking to transition into the accounting industry from the investment industry. Initially I was headed in the accounting direction in college, but ended up taking a job offer with an investment firm due to a successful internship experience. Now at 30 years old, and 7 years of experience as a financial advisor, it's time to leave. I enjoy the planning aspect, doing the numbers and analysis, the relationships, etc. I just cant stand the slimy sales part of it any more. I have all the relevant investment licenses and a flawless compliance record. I also have the CFP education curriculum with a certificate of completion (sitting for the exam in July). My question is, what do I need to do to get hired by a big four or any other decent accounting firm? I realize my credentials aren't exactly big 4 material, but will it at least get me in the door? I am flexible and hoping to get hired somewhere that provides training. I realize I'll have to work my ass off and study for the CPA. That's ok, I have a proven track record of hard work and the ability to study successfully while employed full time. My finance and I have no kids, and we're looking to relocate from the west coast to NYC or ATL at the end of the year. Should I start taking accounting courses at the local junior college? What can I do that would help me get an opportunity? Thanks for reading!! all comments appreciated.
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2BlackLabs
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Joined: 29 Sep 2008
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| Posted: 10 Feb 2009 at 19:51 | IP Logged
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I was in very similar shoes as your self. I'm 30 and
left Wall st. for accounting.
I worked on the street for 5 years. Sales and Trading,
then research, etc. I was waiting on an offer from one
of THE big hedge funds in Greenwich after interviewing
for 5 months...when *removed* hit the fan. I was the guy, but
the canned the position altogether.
To make a long story short. I knew that finance was
going to be dead, dead, dead for a very long time and
went into survival mode. I think we are in a depression
incidentally. Accounting was something that I liked in
college and I knew that learning more of it would make
me a better investor. I know the economic story and
capital markets very well. Accounting was an area for me
to grow. The alternative was to be a FA which I thought
about and finally decided against.
I initially thought the cheapest thing to do would be go
to community college and satisfy the CPA requirements
that way. Never thought the big 4 would look at me. I
always planned on working for a small local CPA firm.
Instead, I went and got a masters from a big state
university, against my initial fears and hesitation. Not
doing that would have been a colossal mistake too (for
me). I wanted to drop out and get a refund every day for
the first 3 weeks or so but finally got my rhythm. While
there I took advantage of their recruiting capability
and got a big 4 offer.
I would recommend the same. But I would go to a school
where you want to work. At the end of the day the
knowledge isn't different. You could go out and buy the
same 10 textbooks that every college uses and save
yourself tuition money. It's the networks, professor
contacts, school reputation on a resume, and the big one
is the recruiting. You need to find out if they are a
target school or what hooks the school has into the
profession. Keep in mind that if you don't do public
accounting, industry is out there and they usually have
a similar agenda in terms of target schools, etc.
As far as the big 4. I think they care about hiring
people who are outgoing and can talk cleanly to clients
and also have good technical knowledge. I think your
sales background is a HUGE plus. Just go out there and
try to bang out a good GPA (they won't look at you
otherwise) and make contacts and relationships with
professors, etc.
Just a note though, many schools will require you to go
to their MBA of accountancy programs if you don't have
an undergrad in accounting. You might want to call
around (despite what their brochures say) and ask if you
can get into a masters of accountancy program. It's a
huge revenue generator for them, they might find a
reason to admit you. I refused to do an MBA personally.
But after everything I've been through, it still would
have been worth it.
Best of luck. By the way if you aren't interested in the
Big 4 and are cool with a small firm, then by all means
go for the junior college or community college. With
your background I'm sure there are a lot of firms that
focus on tax and financial planning that would be
interested.
Sorry if anything lacked clarity, I'm trying to cram for
REG and bang this out as quick as possible.
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007CPA
Regular
Joined: 08 Oct 2008
Location: United States
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Posts: 119
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| Posted: 10 Feb 2009 at 20:48 | IP Logged
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All good info here, I just wanted to add one thing. You may not get very far from the slimey sales. It is also needed in the Big4. Better to get good at it than run away from it.
__________________
Enjoying Freshman life at the Big 4 University!
------------------------
REG -10/31/2009 (Passed!)
BEC - 11/28/09
AUD - 1/4/09
FAR - Tentative 05/10
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spatel783
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Joined: 10 Feb 2009
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| Posted: 11 Feb 2009 at 16:07 | IP Logged
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2BlackLabs
Newbie
Joined: 29 Sep 2008
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Posts: 17
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| Posted: 11 Feb 2009 at 18:28 | IP Logged
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Got my offer after I was about half way through the
program in the fall recruiting cycle, graduated this
winter.
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