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cpadudeface
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| Posted: 04 Feb 2010 at 15:08 | IP Logged
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CPA2b1day wrote:
| What you just described can be best summed up in one word: ELITISM. |
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i'll chime in here play a little devil's advocate and say you are correct in that i learned a crapload more at my current small firm (thrown into the fire) than at my previous Big 4 experience (national training and some coddling)...
however, elitism, as stupid for the sake of just having it, plays a huge part in terms of salary - that's just how the world works... we don't live in a meritocracy and my 2 good friends (1 associate at i-bank, another at a small PE shop) make considerably great bank despite being the dumbest idiots around. if you ask them what they do, they can barely explain - but they did well in school and had the name brand behind it...
unfair? yeh but in my perspective employers do this so they can tell their clients (many in$$$$titutional clients) hey our team is comprised of a booth mba, a wharton grad, and a fuqua quant grad when in reality these kids have no idea how to read a financial statement.. yet they still earn their 2% and 20% of assets which go up in to the 8 figures plus..
again, unfair? yeh but elitism still plays a part in this myopic world where we quickly forget many "experts" who manage our money aren't really experts (not all)..
but to your credit, in the end there are real, valuable tradeoffs here as self-employment does allow you to be flexible with your time/life outside of busy season, which i'm glad you don't take for granted.
ps i know im comparing apples to oranges (accounting vs finance) but you can make the same point self-employment vs Big4 partner/large company CFO based on salary, just salary differences would have less spread vs my buddies in PE/IB
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donato11
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| Posted: 04 Feb 2010 at 15:34 | IP Logged
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You can definitely make six figures w/o big four experience. If you are smart and work hard it will happen. I work with 6 other finance/acctng folks that all make over 6 figures. They have big four experience, i don't. It took me longer than them but i am over six figures and have been for the last 5 years. If you work hard, the rewards will follow. I did it w/o even a CPA designation. Don't focus on money, it will follow as you become valuable to the company.
I interview people out of public all the time, most can't even reconcile a bank account (they never needed to). Don't underestimate the level of experience you get working up through the ranks.
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tarheelfan4ever
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| Posted: 04 Feb 2010 at 15:57 | IP Logged
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Aside from being a controller, my other goal (since I have an entrepreneurial spirit within me) is to open my own practice and work with businesses or HNWIs doing either tax consulting work or things like that (btw, is tax/forensics the only kind of consulting work accountants are qualified to do). So if I decide to pursue that route, will working at a smaller firm initially still be fine, or would the Big 4 be the only way to work with HNWIs (which = high net worth individuals btw)
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Inspired
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| Posted: 04 Feb 2010 at 18:50 | IP Logged
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tarheelfan4ever, I have the same plan. All you need to do is pass the exam get a masters etc and convince a firm to sign off on your hours - more difficult than taking the exam or getting your teeth pulled.
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allegro-cpa
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| Posted: 05 Feb 2010 at 10:24 | IP Logged
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Does this mean that if you go to Grant Thorton or BDO, which are not Big 4, you are screwed? Those firms seem to have a great reputation like the big four though. They should also open up opportunities later....
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Topic: My ACTG prof says go Big 4 or go home...
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