just graduated

[hi-power]

im not really sure what the differences between public and industry are but i dont think i will mind as long as i find a job
and i wasnt in any accounting clubs

Do you really have an accounting degree? That's kind of like a lawyer not knowing the difference between a prosecutor and a defense attorney.

Ha! This popped into my head when I read your post:



Hutz: And so, ladies and gentleman of the jury I rest my case.
Judge: Hmmm. Mr. Hutz, do you know that you're not wearing any pants?
Hutz: DAAAA!! I move for a bad court thingy.
Judge: You mean a mistrial?
Hutz: Right!! That's why you're the judge and I'm the law-talking guy.
Judge: You mean the lawyer?
Hutz: Right.

Sorry! Carry on.

[roff]

I talked to a friend at a big 4 and she said their college hires come from campus recruiting and they all start at the same time.

i have a friend that works for the big 4 (deloitte) and she says they only hire the "creme de la creme" for their company
i dont think i fit in that category since i took 6 years to do something that takes 5 years

[BigBlueDodge]

Wow, you guys are tough. He comes to ask advice, and everyone wants to make him feel rediculous for doing so.

Roff, here is what I can offer. You can go down one of two paths. First you can try and do the job searching yourself. You can work with your's school career placement department, search job posting sites (Monster.com, etc) and scan local newspapers. Or you can elect to use a recruiter. Recruiters (aka Head Hunters) are paid by the companies that hire you, and thus don't cost you nothing. Recruiters maintain databases of open jobs and can very quickly have you interviewing with many companies. The downside is that recruiters aren't really looking to put you in the best job for you. They are looking to put you in a job as fast as they can. Therefore, they will pressure you to take the first offer that comes your way. But you can be firm, and hold out until you find the right job for you.

Second, you need to make a decision if you want to work for a single company, or venture into the consulting side. If you work for a single company, you go to the same place everyday, get to know the same people, etc. Generally pay is good, but not the best. If you work for a consulting company, you generally make more, but are also expected to travel.....a lot. You may find your self on year long engagements 5 states away. For single people, that might be fine. For married people with kids it is disastrous. However, you will learn more quickly than you do working for a single company, but life is more hectic.

I would think entry level salaries for fresh out of college kids would be around $50-70K, but accounting is not my profession so I could be mistaken. I know when I graduated in the late 90's, in my degree kids were getting $40-50K starting off, so I got to imagine that salaries have increased some since then (but the market was strong in the .Com era)

[BigBlueDodge]

i have a friend that works for the big 4 (deloitte) and she says they only hire the "creme de la creme" for their company
i dont think i fit in that category since i took 6 years to do something that takes 5 years

I wouldn't put much stock into that comment. Ask anyone, and they'll say their company only hires the best. Evidentally your friends is patting herself on the back. Her statement is essentially saying that she is the "creme de la creme" in her field, because deloitte hired her. Everyone likes to think that the company they work for has a high bar for employees, as most people want to think that they do their job better than most.

I would ask her if corresponding salaries in Deloitte are the top in the industry? I have yet to find a company that attracks the best people in the field, but pays the industry norm. Getting top talent costs money. Take for example McKinsey & Company consulants. Fresh out of school kids can make $200K+ in starting salary at McKinsey. However, it is EXTREMELY difficult to get into McKinsey (they pull from Harvard, Yale, etc). McKinsey wants top talent, and they will pay for it.

[Daltex1]

Is it just me or has this website started to turn into a job seeking website?

[boomerang]

Wow, you guys are tough. He comes to ask advice, and everyone wants to make him feel rediculous for doing so.

I wasn't trying to make him feel bad. I was passing along what I found out about big 4 hiring so he wouldn't chasing them. Based on what I heard and the fact he didn't have an offer before graduation, I think he's probably better off applying at smaller firms now. After he gets some experience and passes the CPA exam, then it might make sense to apply to a big 4 because they bring in experienced hires year round. Or he could stay with the small firm. Or he can start his own firm after he has his CPA. Also there was good info from Lumberjack about public accounting verse going into industry and doing things like AR/AP as an entry level staff accountant.

[DoubleJ]

Wow, you guys are tough. He comes to ask advice, and everyone wants to make him feel rediculous for doing so.

um, you spelled "ridiculous" wrong....
sorry.

[BigBlueDodge]

removed

[Iggy Pop]

Wow, you guys are tough. He comes to ask advice, and everyone wants to make him feel rediculous for doing so.

I wasn't trying to make him feel bad. I was passing along what I found out about big 4 hiring so he wouldn't chasing them. Based on what I heard and the fact he didn't have an offer before graduation, I think he's probably better off applying at smaller firms now. After he gets some experience and passes the CPA exam, then it might make sense to apply to a big 4 because they bring in experienced hires year round. Or he could stay with the small firm. Or he can start his own firm after he has his CPA. Also there was good info from Lumberjack about public accounting verse going into industry and doing things like AR/AP as an entry level staff accountant.

Actually, the big 4 would prefer hiring someone with no experience.

[Iggy Pop]

i have a friend that works for the big 4 (deloitte) and she says they only hire the "creme de la creme" for their company
i dont think i fit in that category since i took 6 years to do something that takes 5 years

I wouldn't put much stock into that comment. Ask anyone, and they'll say their company only hires the best. Evidentally your friends is patting herself on the back. Her statement is essentially saying that she is the "creme de la creme" in her field, because deloitte hired her. Everyone likes to think that the company they work for has a high bar for employees, as most people want to think that they do their job better than most.

I would ask her if corresponding salaries in Deloitte are the top in the industry? I have yet to find a company that attracks the best people in the field, but pays the industry norm. Getting top talent costs money. Take for example McKinsey & Company consulants. Fresh out of school kids can make $200K+ in starting salary at McKinsey. However, it is EXTREMELY difficult to get into McKinsey (they pull from Harvard, Yale, etc). McKinsey wants top talent, and they will pay for it.

You spelled "evidently" and "attracts" wrong.

[Lumberjack98]

Basically Big 4 (and the next tier of about 20 firms) will probably not touch you if you weren't in BAP, had a 3.5 GPA and didn't do an internship with an accounting firm your junior or senior year. They rarely make exceptions to this, and only in extraordinary cases.

Guess what, I wasn't in BAP, didn't have a 3.5 GPA and didn't do an internship. Guess what, I didn't get a job with a top tier accounting firm either. In fact, with the exception of my first job after college, my GPA didn't even qualify me to interview with any of the firms. I worked my way up in accounting firms by changing every couple of years and being strategic in the experience that I received. Primarily in oilfield services, software companies, manufacturing and distribution as well as SEC filing companies. After about 6 years I had all of the Big 4 and several of the second tier accounting firms wanting me to come to work for them due to the experience that I had attained.

My point is that it will be harder for you to get started, but that's it. My CPA license doesn't say that it took me 7 times to pass and that it was 5 years after I graduated. It just says CPA.