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LSUCIA program
Posted on 1/20/14 at 4:42 pm
Posted on 1/20/14 at 4:42 pm
I am currently enrolled in the Internal Audit program here at LSU. Second class is tomorrow and we're having to fill out all these forms with internship location preferences and also permanent job location preferences. Also, it is required that we take the first internship offer that we receive, so we shouldn't sign up for any interviews that we won't take. What I'm wondering is which internships are considered "better" than others and what my expectations should be? Currently and accounting major with basically no related accounting work experience and a 3.3 GPA. Any advice will help. TIA.
5
Posted on 1/20/14 at 8:38 pm to tigers2314
As long as you are willing to travel to wherever that company is located, you should sign up. Any internship is invaluable in terms of experience. Also it depends on whether you want to go Big 4 or industry. Make that decision first. But otherwise, don't be too picky. If you get an opportunity, it will be worth it.
Posted on 1/20/14 at 10:49 pm to tigers2314
See my reply in your thread on the OT, but I would go Big 4 first if possible, thus leaving the door open to jump to industry if you want. Its better to go this way IMO because some people don't enjoy Big 4 and its better to experience it and then decide rather than being in industry and wondering if you made the right decision. Obviously this works both ways with some people loving industry and staying put, to each their own.
Posted on 1/21/14 at 7:10 am to tigers2314
I went through Dr. Sumners' program as well in 2008. The whole process is pretty crazy. We had a test like the second week of class and we had to make a certain grade to even be eligible for the internship "draft".
You will be required to take the first internship you are offered, so only apply with companies/locations that you are interested in relocating too. The reason location is so important is because more than likely the company you intern with is going to offer you a full time position at the end of your internship. It would be a disservice to both you and the company if you put that you wanted to internship somewhere that you wanted to be for 8-10 weeks, but not a permanent move.
With that being said the Big 4 are all good places to start your career along with Grant Thornton. I did my internship with Grant Thornton. I went back and worked at GT for a few years after graduating. Your GPA is above a 3.0, which is good enough for just about any of the internships. Go to as many of the company presentations as possible in the beginning of the semester and pay attention to them. Don't be afraid to network with some of the employees there as those are the people you would be working with. Don't be afraid to ask them questions. They are trying to sell you on the idea of their company.
I'll be happy to answer any other questions that I can. Good luck!
You will be required to take the first internship you are offered, so only apply with companies/locations that you are interested in relocating too. The reason location is so important is because more than likely the company you intern with is going to offer you a full time position at the end of your internship. It would be a disservice to both you and the company if you put that you wanted to internship somewhere that you wanted to be for 8-10 weeks, but not a permanent move.
With that being said the Big 4 are all good places to start your career along with Grant Thornton. I did my internship with Grant Thornton. I went back and worked at GT for a few years after graduating. Your GPA is above a 3.0, which is good enough for just about any of the internships. Go to as many of the company presentations as possible in the beginning of the semester and pay attention to them. Don't be afraid to network with some of the employees there as those are the people you would be working with. Don't be afraid to ask them questions. They are trying to sell you on the idea of their company.
I'll be happy to answer any other questions that I can. Good luck!
Posted on 1/21/14 at 1:43 pm to tigers2314
Do it. I did the program in calendar 2006. I had an IA internship for a top 10 firm but not quite big 4. Great experience. Don't get too hung up on it if you get an internship you aren't too excited about.
I ended up finishing the program, passed the CIA, got an external audit big 4 internship for the fall after I graduated undergrad, and got my MS in accounting the next year. I ended up going big 4 external audit and passed the CPA. I've never "used" my CIA (although I maintain my license)or the program in terms of my career but I can't put into words how much I benefited. I learned an intense work ethic, learned how to handle criticism, learned how to handle impossible expectations, and learned to handle myself in professional situations etc. Do it.
I ended up finishing the program, passed the CIA, got an external audit big 4 internship for the fall after I graduated undergrad, and got my MS in accounting the next year. I ended up going big 4 external audit and passed the CPA. I've never "used" my CIA (although I maintain my license)or the program in terms of my career but I can't put into words how much I benefited. I learned an intense work ethic, learned how to handle criticism, learned how to handle impossible expectations, and learned to handle myself in professional situations etc. Do it.
Posted on 1/21/14 at 2:44 pm to tigers2314
quote:
Also, it is required that we take the first internship offer that we receive, so we shouldn't sign up for any interviews that we won't take
That might be the dumbest thing I have ever heard.
Posted on 1/21/14 at 2:48 pm to reb13
False. It is a brilliant way to attract more internships for students. Instead of every company fighting over the top few students, you have an internship lottery for all of the companies. That way, they might or might not get their first choice. However, they are guaranteed to get a quality student who has had the heart to hang in there for the class and has a huge advantage over students who don't have any knowledge of IA.
ETA: if you don't want to work for a company, you don't have to drop your resume with them at the resume drop event. It is a brilliant tool in that regard too because students know the competition is high so they are willing to hedge by dropping a resume with a backup company. It is a great way to maximize student exposure to the profession.
ETA: if you don't want to work for a company, you don't have to drop your resume with them at the resume drop event. It is a brilliant tool in that regard too because students know the competition is high so they are willing to hedge by dropping a resume with a backup company. It is a great way to maximize student exposure to the profession.
This post was edited on 1/21/14 at 2:51 pm
Posted on 1/21/14 at 3:05 pm to Crbello4Hiceman
So the strongest students are the most penalized? So dumb, I can barely wrap my head around this stupidity. Thankfully my school allows me to apply for big four jobs, regional jobs and industry jobs and allow me to have a backup.
This post was edited on 1/21/14 at 3:06 pm
Posted on 1/21/14 at 3:11 pm to reb13
quote:
LSU was endorsed by the Institute of Internal Auditors as the Pilot School in 1985 to develop an innovative educational program in internal auditing. The LSUCIA program, considered to be the premier internal audit program in the world
Yeah, real dumb.
quote:
Thankfully my school allows me to apply for big four jobs, regional jobs and industry jobs and allow me to have a backup.
The difference in your school and this "stupidity" is that when me and you apply for the same job and they see "LSUCIA" on my resume and they see (I assume) Ole Miss on yours you will have absolutely no chance to get the job.
Posted on 1/21/14 at 3:18 pm to reb13
quote:
So the strongest students are the most penalized? So dumb, I can barely wrap my head around this stupidity. Thankfully my school allows me to apply for big four jobs, regional jobs and industry jobs and allow me to have a backup.
The CIA 'draft' is the most ridiculous thing I have ever seen.
You are correct in saying that top students are penalized.
Other than the the recruitment shenanigans, the program is terrific, IMO.
This post was edited on 1/21/14 at 3:22 pm
Posted on 1/21/14 at 3:19 pm to Crbello4Hiceman
quote:
ETA: if you don't want to work for a company, you don't have to drop your resume with them at the resume drop event. It is a brilliant tool in that regard too because students know the competition is high so they are willing to hedge by dropping a resume with a backup company. It is a great way to maximize student exposure to the profession.
Or you should be able to get offers to multiple places and then continue the evaluation once you have those offers in hand.
I would know.
Posted on 1/21/14 at 3:20 pm to PurpleAndGold86
quote:
The difference in your school and this "stupidity" is that when me and you apply for the same job and they see "LSUCIA" on my resume and they see (I assume) Ole Miss on yours you will have absolutely no chance to get the job.
quote:
PurpleAndGold86
Are you clueless? Ole Miss is a Top 15 accounting school.
Nice try though. And I have no dog in this fight.
This post was edited on 1/21/14 at 3:21 pm
Posted on 1/21/14 at 3:21 pm to lynxcat
quote:
Are you clueless? Ole Miss is a Top 15 accounting school.
Umm and LSUCIA is recognized as the best program of its kind in the world.
Nice try though
This post was edited on 1/21/14 at 3:22 pm
Posted on 1/21/14 at 3:24 pm to PurpleAndGold86
quote:
Umm and LSUCIA is recognized as the best program of its kind in the world.
Nice try though
Do you know how B4 recruit? That's what this comes down to at the end of the day - the vast majority are looking for B4 opportunities and LSUCIA is the gateway to entrance.
LSU being top ranked for LSUCIA is not new news to me. Keep trying.
Posted on 1/21/14 at 3:26 pm to lynxcat
quote:
the vast majority are looking for B4 opportunities and LSUCIA is the gateway to entrance. LSU being top ranked for LSUCIA is not new news to me. Keep trying.
I'm not exactly sure how you think this proved me wrong, but it is entertaining watching you try so hard.
This post was edited on 1/21/14 at 3:27 pm
Posted on 1/21/14 at 3:41 pm to lynxcat
I did the program, and I still work for a company that recruits and participates in the draft. And I have participated in interviews and sat in the "draft room" and selected candidates.
I agree that it is a frustrating situation. It actually penalizes the best students and the employers because competition is basically not allowed after the drop process. However, the program is successful because Sumners continues to produce quality students to their potential employers. He gains the most from the situation though because he keeps total control and forces the lack of competition. If a company doesn’t like it, they have to deal with it. If a student doesn’t like it, he can get lost.
I haven’t particularly enjoyed from either side because I’ve felt somewhat helpless, but I haven’t seen a ton of terrible results on either side (friends that interned with companies or employer complaints) so program continues to have success.
Tl;dr – I don’t like the draft process, but I guess it works. Sumners has all the control.
I agree that it is a frustrating situation. It actually penalizes the best students and the employers because competition is basically not allowed after the drop process. However, the program is successful because Sumners continues to produce quality students to their potential employers. He gains the most from the situation though because he keeps total control and forces the lack of competition. If a company doesn’t like it, they have to deal with it. If a student doesn’t like it, he can get lost.
I haven’t particularly enjoyed from either side because I’ve felt somewhat helpless, but I haven’t seen a ton of terrible results on either side (friends that interned with companies or employer complaints) so program continues to have success.
Tl;dr – I don’t like the draft process, but I guess it works. Sumners has all the control.
Posted on 1/21/14 at 3:52 pm to lynxcat
quote:
Or you should be able to get offers to multiple places and then continue the evaluation once you have those offers in hand.
This is actually how it used to be when I went through the program. And even though I personally preferred it that way, I can see why they changed it. Make no mistake about it, it was changed for the companies. They are the ones "donating" funds in order to participate in this process, and when too many companies kept getting spurned and complaining, they had to make a change. All the companies were going after the same top students and by the time the students decided on which offer they were going to accept, companies either got the crap left over or nothing at all.
Posted on 1/21/14 at 4:02 pm to reb13
The "dumb" process is the reason why the program had 180 internships lined up for my class before the program started that year, which is way more than any other IA program no matter what school you are talking about. It's actually a pretty fairly presented opportunity for the companies. You want to recruit from us? This is how it goes: we can guarantee you will get a high quality intern. Will it be your first choice? Maybe, maybe not, but they will be a much better candidate than you will get at a school that doesn't have an IA program or a program that is not as comprehensive and rigorous as ours.
As for the students: meet the firms at the events before the drops, ask questions, determine the locations you would be willing to try, make the decisions with the best information you have, and live with the consequences.
Making a decision and taking a risk utilizing the best information you have available in an attempt to try to advance yourself. Sounds like a normal day in the business world to me.
If you think this is unfair, get an external audit internship or tax internship on your own. If you want, send you resume to an IA shop somewhere and go for it.
As for the students: meet the firms at the events before the drops, ask questions, determine the locations you would be willing to try, make the decisions with the best information you have, and live with the consequences.
Making a decision and taking a risk utilizing the best information you have available in an attempt to try to advance yourself. Sounds like a normal day in the business world to me.
If you think this is unfair, get an external audit internship or tax internship on your own. If you want, send you resume to an IA shop somewhere and go for it.
Posted on 1/21/14 at 6:09 pm to Crbello4Hiceman
I'm sure the program is great training but not having the ability to choose who you want to work for sounds like a power grab from some professor and institution.
I had offers from 3 of the big 4 (only one not KPMG) and I chose the one in the city I didn't even think about going to because of the people. That is what it boils down to, being in a room (closet) with 10 other people really makes you realize how important this is. Also my understanding is lsu does not accommodate spring internships which is mind blowing and actually really irritates the higher ups within the firms with lsu ties.
I had offers from 3 of the big 4 (only one not KPMG) and I chose the one in the city I didn't even think about going to because of the people. That is what it boils down to, being in a room (closet) with 10 other people really makes you realize how important this is. Also my understanding is lsu does not accommodate spring internships which is mind blowing and actually really irritates the higher ups within the firms with lsu ties.
This post was edited on 1/21/14 at 6:11 pm
Posted on 1/21/14 at 6:16 pm to reb13
Ultimately not everyone will not get the placements they want, but Sumners is responsible for those opportunities being there and staying. The College is greatly indebted to him, even if he was a Gump in his undergrad days.
Besides, one can always try to be recruited outside of the program.
Besides, one can always try to be recruited outside of the program.
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