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re: Accounting Majors -- Any experiences here?

Posted on 6/16/20 at 10:03 am to
Posted by LSUFanHouston
NOLA
Member since Jul 2009
40189 posts
Posted on 6/16/20 at 10:03 am to
quote:

I have experience with both LSU and UNO and UNO had a great program for acct


LSU doesn't have a seperate AACSB certification for accounting. UNO Does (as does Tech, Nicholls, SLU, ULM, ULL)

But by CPA exam pass rates, it goes

LSU
Tech
ULL
ULM
UNO
Nicholls
SLU

UNO had MUCH better pass rates before Katrina. As the entire university has suffered post-Katrina, so has this.
This post was edited on 6/16/20 at 10:04 am
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36397 posts
Posted on 6/16/20 at 10:03 am to
quote:


It might be difficult to intern somewhere across the country.


I guess it can be. We've had interns in Dallas from California, Atlanta, Memphis, etc. Its one of those things I guess you'd really just need to play by ear depending on how strong a candidate you are.
Posted by OceanMan
Member since Mar 2010
22639 posts
Posted on 6/16/20 at 10:06 am to
quote:

My dad's friend's father was head of Tulane accounting and said to do UNO. It was much cheaper and their students pass the CPA more on the first try. Don't regret it, was dirt cheap.


I once listened to a girl go on this diatribe of how superior of a school Tulane is to all others in LA, let her go on for 5 minutes or so before interrupting her to say “yet here we are, both sitting in the same room with the same job”

I could go off on a tangent about how detrimental it is for society for kids that have taken on an incredible amount of debt to get a school with a name brand that inherently think they are better than those that attend their state schools, but that’s another thread
Posted by Tigerfan56
Member since May 2010
10526 posts
Posted on 6/16/20 at 10:08 am to
Accountant here. Graduated in 2014, became CPA in 2016. Worked at regional CPA firm for a few years and now work for a State AG's office as a forensic accountant.

quote:

Public vs Industry?


Really your preference and what you want to do. I never wanted to go public, hated public while I was in it, and will never go back. All that being said, I absolutely believe it is the way to go if you are unsure of what you want to do.

I did it for 4 years, and you will gain more valuable experience in public that will keep more doors open for you while you figure out what you want to do. If you go industry, you may limit your options a bit more as far as your career path - which is fine if you specifically know what you want to do and the industry path works for that.

And the public accounting horror stories can vary. I know some who went Big 4 and worked 80+ hour weeks during busy season. I know others who went Big 4 and worked 50-60 hour busy seasons which are manageable. I was in the 50-60 hour range for busy season at our regional firm, and I think that's pretty standard for smaller firms. It all varies by location and firm, though. Just do your research when job hunting.

quote:

How hard is the CPA exam?


I found it challenging but manageable. I am a good test taker, which helps. But I was able to pass all 4 parts while working full time and studying of an evening. I slacked off on my last test and got a 74 the first time I took it, but the other 3 I passed the first time.

I used Becker's review course and from my experience it was a great package - put in the time with a good course like that and you will pass it.
Posted by Odysseus32
Member since Dec 2009
9734 posts
Posted on 6/16/20 at 10:08 am to
Oh man that puts my worries at ease. I appreciate all the info.

Also, Ive read everyones direct responses to me and I appreciate all the different input. Its good to get a lot of different perspectives on this. Oddly enough, getting this insight from school administrators is tough. It may be a liability issue on their end, but there seems to be a bit of a communication gap.

Hard to respond right now to everyone while Im at work on my phone. I'll get back to this thread once I get on a desktop after work.
Posted by OceanMan
Member since Mar 2010
22639 posts
Posted on 6/16/20 at 10:08 am to
quote:

I guess it can be. We've had interns in Dallas from California, Atlanta, Memphis, etc. Its one of those things I guess you'd really just need to play by ear depending on how strong a candidate you are.



Yeah it’s not like it’s abnormal, especially to intern in a bigger city, but this guy is working a warehouse job in Idaho so I figured there might be some difficulty getting back to the south or else he would have already done it.

But in Big 4 it is incredibly common to transfer offices once you are on board. OP it does not hurt to ask, especially if you are a strong candidate.
Posted by JumpingTheShark
America
Member since Nov 2012
24684 posts
Posted on 6/16/20 at 10:10 am to
I agree with that - older candidates and entry level accountants were quite normal in public accounting.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36397 posts
Posted on 6/16/20 at 10:14 am to
One more thing I think is good information for you. By interning at a Big 4 you are going to get incredible resources for the CPA. They pay for all of your Becker, including all the supplemental materials. They pay all application and testing fees, and give you a 5k bonus when you pass. Only caveat is you have to stay, i think, a year after you pass. In my opinion, its worth doing Big 4 a couple of years just for that.
Posted by Odysseus32
Member since Dec 2009
9734 posts
Posted on 6/16/20 at 10:15 am to
quote:


Yeah it’s not like it’s abnormal, especially to intern in a bigger city, but this guy is working a warehouse job in Idaho so I figured there might be some difficulty getting back to the south or else he would have already done it.


I could see thinking that, but we have the means to go back home and I thought about it doing this past Fall. But I'm already here in school and I qualify for in state tuition. If I wanted to work in Dallas maybe it would have been better to pack up and pay out of state tuition to be positive I got an internship there. But it wouldnt be the end of the world if I got stuck in Boise. Honestly I fricking love it here, its just that housing prices are skyrocketing and I dont see buying here. It just seemed like the better option to stick here at BSU for 2 more years rather thab transfer, hope my credits articulate, and possibly pay out of state tuition. Not to mention my wifes work may or may not let her keep her job. She is WFH but they are still a local company and shes been with them a couple of years. She's ultimately the one bringing home the bacon while I'm in school. Im working, but she makes more than me and gets quarterly bonuses. Dont wanna toss that away.
Posted by Cocotheape
Member since Aug 2015
4242 posts
Posted on 6/16/20 at 10:17 am to
I started big 4 with a guy who was 33, ex military, he had no issues. Just have to be willing to do the work and not be too proud to listen to a 24 year old tell you what to do. You can move up quickly so the weirdness goes away pretty fast.

Additionally, big 4 will hire people out of industry at the manager level (in tax at least) who will be a little older than the people who started straight out of college and have moved up. The age thing doesn’t matter once you’ve got your foot in the door.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36397 posts
Posted on 6/16/20 at 10:19 am to
For whatever reason we have a decent amount of people from BYU at my firm and they're all a little older. Not an issue at all. They're weird though
Posted by YumYum Sauce
Arkansas
Member since Nov 2010
9326 posts
Posted on 6/16/20 at 10:21 am to
Accounting/Finance background with leadership capabilities pays big in your 30s.

There's a lack of financial knowledge in the small to medium sized business world.

I fricking hate accounting but it got me to 6 figures faster than most of my friends because I can run shite as well.

Understanding money + helping grow a business means you can do well for yourself.
Posted by OceanMan
Member since Mar 2010
22639 posts
Posted on 6/16/20 at 10:21 am to
Like Mingo said, if you are a good candidate they recruit for all offices for internships, and the biggest offices want the most interns. So Houston and Dallas will take 30-50 while NOLA might have 3-5.

I will disagree with him about grades...you want to have great grades. Makes the whole process easier. There might not be a hard cutoff but they favor 3.5+ every day of the week. And that a something you can work on right now.

I didn’t intern, but I had a 4.0 in accounting classes so it made my life easier.
Posted by OceanMan
Member since Mar 2010
22639 posts
Posted on 6/16/20 at 10:22 am to
quote:

Only caveat is you have to stay, i think, a year after you pass. In my opinion, its worth doing Big 4 a couple of years just for that.


I hated big 4 but it has paid dividends for me. Would recommend anyone that has the opportunity to do it for 2 years.
Posted by MusclesofBrussels
Member since Dec 2015
4934 posts
Posted on 6/16/20 at 10:24 am to
quote:

My dad's friend's father was head of Tulane accounting and said to do UNO. It was much cheaper and their students pass the CPA more on the first try.


I doubt this is true, or it's true because not many Tulane grads are taking the CPA exam in Louisiana and the raw numbers are higher for UNO.

Either way, I agree with the other poster that an expensive private university likely doesn't make much sense for a career in accounting. Tulane's value over the public schools in Louisiana shows way more on the finance side.
Posted by The Spleen
Member since Dec 2010
38865 posts
Posted on 6/16/20 at 10:24 am to
quote:

By interning at a Big 4 you are going to get incredible resources for the CPA. They pay for all of your Becker, including all the supplemental materials. They pay all application and testing fees, and give you a 5k bonus when you pass. Only caveat is you have to stay, i think, a year after you pass. In my opinion, its worth doing Big 4 a couple of years just for that.




A lot of smaller firms offer similar, though maybe not as generous and not for interns. I worked for a small firm after graduating and preparing for the CPA. They didn't pay for Becker, but did give me 2 hours each day at the office to study, and a decent bonus once I passed the exam. This was about 20 years ago, and I think the bonus was $2,000.

The 2 hours to study every day at the office was huge, especially because there was another guy there hired at the same time as me and we'd study together every day. Not sure I would have passed my first attempt without that.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36397 posts
Posted on 6/16/20 at 10:26 am to
quote:

So Houston and Dallas will take 30-50


Its more like 150-200 across all service lines per year between spring and summer

quote:

I will disagree with him about grades...you want to have great grades. Makes the whole process easier.


I certainly agree with that. My point is if it says you need a 3.5 to apply, but you have a 3.3 go ahead and apply and bust your arse making a favorable person to person impression.
Posted by Dixie Normus
Earth
Member since Sep 2013
2843 posts
Posted on 6/16/20 at 10:26 am to
Both intermediate accountings are tough. Public is a grind, but you make good money. It’s not nearly as bad as people make it out to be and it’s only particularly tough during tax season imo.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36397 posts
Posted on 6/16/20 at 10:28 am to
quote:

They didn't pay for Becker


That's csn be worth like 4k if you get all the supplemental stuff. Thats a big deal for a lot of people. I would have probably taken out an extra couple of grand of students loans to buy it had it not been free.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36397 posts
Posted on 6/16/20 at 10:32 am to
quote:

It’s not nearly as bad as people make it out to be and it’s only particularly tough during tax season imo


You're not in accounting I presume?
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