Joined: 19 Oct 2010
Online Status: Offline Posts: 11
Posted: 28 Mar 2012 at 00:03 | IP Logged
detlas wrote:
I'll be starting in January of next year without having
done an internship - how difficult will it be jumping into
busy season cold?
Do I have any chance of completing the CPA exam within my
first year?
This will differ from firm to firm, but I expect they will
be somewhat similar - is there any kind of network for new
hires to contact each other? I only know a few people in
the city and would rather room up with others in my class
than go random. Is this common?
honestly, i think it's gonna be pretty rough jumping right into busy season without having any internship experience. just because its pretty intense during busy season and everyone is trying to get their work done while you're still learning the basics of how to document workpapers and such. But, there is a chance that you get assigned to a team with good seniors and they are understanding.
as for the CPA exam, it is very likely that you will not be able to complete it within your first year. my best advice is to get it over with (or substantially over with) before you start working. I know it sucks to lose your last summer studying (trust me, i went through it) but it is way better than having to work 13 hours a day and then coming home and having to study. one of my team members failed 3 exams since I started because he doesn't really have time to study and is pretty much just wasting money taking a shot at the exam and hoping to pass.
sorry, i'm not too sure about the new hire networking thing. i would assume the best way is to contact people that you interned with, but seeing as how you didn't intern, im not too sure. maybe try linkedin?
I'll be starting in January of next year without having
done an internship - how difficult will it be jumping into
busy season cold?
Do I have any chance of completing the CPA exam within my
first year?
This will differ from firm to firm, but I expect they will
be somewhat similar - is there any kind of network for new
hires to contact each other? I only know a few people in
the city and would rather room up with others in my class
than go random. Is this common?
You'll be fine. There are plenty of people that start in January. It's definitely harder than starting in September where you're coddled for for 3 months. You'll obviously be working 60+ hours and expect people to be more snappy. Unfortunately coaching new associates is a long term investment that some can't seem to balance as well during busy season. It's nothing personal. You'll get criticized and maybe even "scolded." Not a big deal, it's part of working in a high performing environment like Big 4. Expect to make mistakes, a lot of them, which means get used to sucking for a while. It's the normal course of starting in Big 4. By the way, there's nothing you can do ahead of time to prep. Since you've gotten this far, it's a fair assumption that you're not a completely dumbass and is at least somewhat capable. Honestly auditing itself isn't hard at all. All you're doing is following the same set of procedures/principles, just in the context of different companies. At the end of the day, GAAP is GAAP and GAAS is GAAS. The hard part is just handling the tight deadlines and high strung environment. Don't worry though, the audit will ALWAYS get done. As a first year associate, you won't understand why or how. But just trust me, the audit always gets done, especially for a publicly traded company facing SEC deadlines.
Passing CPA is completely dependent on how diligent you are with studying. If you can, get a head start before you start working and knock as many out of the way as possible. The exams are a huge pain in the ass that just looms over you until you either give up or finish. Finishing within a year is very doable, especially if you can pass one or two before starting FT.
There isn't any official networks that new hires can reach out to each other. But just talk to HR. Tell them you're looking for a roommate and open to a fellow new associate. They'll likely send out some kind of blast email and see who responds.
Staff Auditor in NYC big4. i'll try to answer any questions you may have based on my experiences so far (recruiting, pay, life, etc). GO!
Out of curiosity, what are the major industries out of the NYC office? I presume financial services and consumer retail being the crux of audit clients for the Big 4.
Joined: 19 Oct 2010
Online Status: Offline Posts: 11
Posted: 29 Mar 2012 at 23:21 | IP Logged
db729 wrote:
cpawishes wrote:
Staff Auditor in NYC big4. i'll try to answer any questions you may have based on my experiences so far (recruiting, pay, life, etc). GO!
Out of curiosity, what are the major industries out of the NYC office? I presume financial services and consumer retail being the crux of audit clients for the Big 4.
Joined: 20 Aug 2011 Location: United States
Online Status: Offline Posts: 162
Posted: 30 Mar 2012 at 13:20 | IP Logged
I used to work 80-90 hours per week during the tax season. Is this average for a small to mid-sized tax office or is the hours on the high side? I know Big 4s work up to 120 hours. Generally speaking, what is the average for the different sized firms?
After hearing how much the Big 4s work, I feel embarassed for not working as much as they do. I love the long hours but I can't do 120.
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Topic: 1st busy season done - ask me anything
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