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People Working As Public Accountants and other Qs

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People Working As Public Accountants and other Qs [#permalink] New post 09 Aug 2010, 19:21
Hi, I have a few quick questions, so I was wondering if you guys can help me out:

1. So I'm just curious, for all of you that work as accountants at the Big 4 and whatnot, how do you like your jobs? What do you like and dislike about it and do you feel like you are creating value from your work, or are you just sticking it out so that you can move on to something more exciting in Industry?

2. What are the top MS Accounting programs in terms of placement into transaction advisory programs? Eventually, I'd like to work in the restructuring group at a public accounting firm, which is under TAS/TS, so what schools place the best into these programs?

3. Finally, I was wondering how much ECs matter, or if admission into these MAcc programs are mostly just GPA and GMAT?

thanks
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Re: People Working As Public Accountants and other Qs [#permalink] New post 10 Aug 2010, 14:58
1) I like it Ok, although there are other things I would prefer, hence B-school. There is a lot of checklists to fill out, memos to write, and researching.

2) No idea, but I imagine the top programs place students in this. I think you just have to let the firm know your intentions upfront, and they can funnel you into the right group.

3) From what I know, it is all GMAT and GPA, with probably the GPA being the most important.
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Re: People Working As Public Accountants and other Qs [#permalink] New post 30 Aug 2010, 07:29
wannabeCPA wrote:
1. So I'm just curious, for all of you that work as accountants at the Big 4 and whatnot, how do you like your jobs? What do you like and dislike about it and do you feel like you are creating value from your work, or are you just sticking it out so that you can move on to something more exciting in Industry?

2. What are the top MS Accounting programs in terms of placement into transaction advisory programs? Eventually, I'd like to work in the restructuring group at a public accounting firm, which is under TAS/TS, so what schools place the best into these programs?

3. Finally, I was wondering how much ECs matter, or if admission into these MAcc programs are mostly just GPA and GMAT?

thanks


1) From my previous life at Big 4, most people feel that they are over-worked and under-paid. Many do wait until they add "Senior" or "Manager" title next to their name so they can just leave the firm as soon as they get promoted. A lot of people find that life outside Big 4 provides them shorter hours (in terms of work) and better pay, after leaving the firm.

I think it's a great place to work right out of college because it will train you very well. You will improve your communication skills through one on one interviews with clients. You will improve technical skills through on the job training and other additional training. You will be exposed to a lot of work. You will also learn how not to behave in a workplace because chances are, you will have to work for certain partners and managers who behave in ways that will make your life miserable.

But like in economics where you learn the upside down U curve (marginal benefit curve) .....at some point, it may be beneficial for you to leave the firm to grow as a person and as a professional.

2) I started out in Tax Consulting group of a transaction advisory business, specializing in real estate investment deals and other M&A deals (during that mid 2000 real estate boom period). Then I moved to other areas of the firm.

There's really 2 ways to get into advisory business.
They tend to hire directly into one of the advisory groups from top schools. That's why people want to get into schools like U of Texas - Austin because Big 4 hires students for various areas including the advisory business.

However, if you get hired into audit or regular tax (tax is more difficult to move out of), you can also request to move internally to the advisory group. Usually, they accommodate your request if you are considered a "valuable" asset to the firm. They offer this when you find another job offer and notify them that you are leaving. Or, you can tell HR that you are not happy and want to move to another area of the firm. If there's a need in that area (advisory for example), they may accommodate you but you may have to work in a hybrid role - meaning you may have to work in current role and new role, depending on the need of the firm.

3) Admission into top schools? Think like you are applying to law school or med school. GPA, GMAT, extra curricular kinda matters but mostly GMAT and GPA.

For Big 4 recruiting, GPA is probably the most important (SAt or GMAt for some advisory roles), and maybe internship experience on the resume.
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Re: People Working As Public Accountants and other Qs [#permalink] New post 30 Aug 2010, 23:08
nink wrote:
wannabeCPA wrote:
1. So I'm just curious, for all of you that work as accountants at the Big 4 and whatnot, how do you like your jobs? What do you like and dislike about it and do you feel like you are creating value from your work, or are you just sticking it out so that you can move on to something more exciting in Industry?

2. What are the top MS Accounting programs in terms of placement into transaction advisory programs? Eventually, I'd like to work in the restructuring group at a public accounting firm, which is under TAS/TS, so what schools place the best into these programs?

3. Finally, I was wondering how much ECs matter, or if admission into these MAcc programs are mostly just GPA and GMAT?

thanks


1) From my previous life at Big 4, most people feel that they are over-worked and under-paid. Many do wait until they add "Senior" or "Manager" title next to their name so they can just leave the firm as soon as they get promoted. A lot of people find that life outside Big 4 provides them shorter hours (in terms of work) and better pay, after leaving the firm.

I think it's a great place to work right out of college because it will train you very well. You will improve your communication skills through one on one interviews with clients. You will improve technical skills through on the job training and other additional training. You will be exposed to a lot of work. You will also learn how not to behave in a workplace because chances are, you will have to work for certain partners and managers who behave in ways that will make your life miserable.

But like in economics where you learn the upside down U curve (marginal benefit curve) .....at some point, it may be beneficial for you to leave the firm to grow as a person and as a professional.

2) I started out in Tax Consulting group of a transaction advisory business, specializing in real estate investment deals and other M&A deals (during that mid 2000 real estate boom period). Then I moved to other areas of the firm.

There's really 2 ways to get into advisory business.
They tend to hire directly into one of the advisory groups from top schools. That's why people want to get into schools like U of Texas - Austin because Big 4 hires students for various areas including the advisory business.

However, if you get hired into audit or regular tax (tax is more difficult to move out of), you can also request to move internally to the advisory group. Usually, they accommodate your request if you are considered a "valuable" asset to the firm. They offer this when you find another job offer and notify them that you are leaving. Or, you can tell HR that you are not happy and want to move to another area of the firm. If there's a need in that area (advisory for example), they may accommodate you but you may have to work in a hybrid role - meaning you may have to work in current role and new role, depending on the need of the firm.

3) Admission into top schools? Think like you are applying to law school or med school. GPA, GMAT, extra curricular kinda matters but mostly GMAT and GPA.

For Big 4 recruiting, GPA is probably the most important (SAt or GMAt for some advisory roles), and maybe internship experience on the resume.


What are considered top schools outside of UT-Austin and Michigan for getting placed into advisory roles right away?
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Re: People Working As Public Accountants and other Qs [#permalink] New post 31 Aug 2010, 04:05
wannabeCPA wrote:
What are considered top schools outside of UT-Austin and Michigan for getting placed into advisory roles right away?


Depends on what you want to do and where you want to work. Big 4 hires from other programs (MS Economics, MBA, Law school, etc) for their advisory roles.
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Re: People Working As Public Accountants and other Qs [#permalink] New post 25 Sep 2010, 16:43
wannabeCPA wrote:
What are considered top schools outside of UT-Austin and Michigan for getting placed into advisory roles right away?


Are you talking about transaction advisory or just normal advisory? Transaction services are significantly harder to get into right out of school, whereas "regular" advisory, depending on what part you want to do, there are many schools who can get you into that role.
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Re: People Working As Public Accountants and other Qs [#permalink] New post 03 May 2011, 14:19
"nink" is spot on. At least from my experience working in Big 4.

(1) Yup, people who stay until Manager or Sr Manager get the best jobs leaving. Seniors and even staff are often tempted to leave, but they get similar positions at big companies or have to go to smaller companies for a promotion. Out of college it's a great place to start off, although their training isn't always the best (and was getting drastically cut where I worked) and certain superiors (especially bad seniors) can make your life miserable. But you will be overworked and underpaid until you make at least Manager.

(2) It's hard to get out of audit or tax into advisory unless you know someone, is someone's favorite, or do such a good job that when a spot opens up they consider you. Sometimes you might get a good assignment or two with advisory and impress the right person. But it also depends on geography. If you're not where the banks etc are, then you'll find it even harder to slide into something like that.

(3) GPA was the main consideration for the MSA program I went to. GMAT also mattered but 650+ seemed to be more than enough. Internships were also a big deal, and especially if you interned for a Big 4 and did it well (that will impress). Extracurriculars matter more for applicants on the bubble. Big 4 Employers almost excusively care about GPA.
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Re: People Working As Public Accountants and other Qs [#permalink] New post 30 May 2013, 18:03
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Re: People Working As Public Accountants and other Qs   [#permalink] 30 May 2013, 18:03
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