Just passing all 4 exams of CPA
Hi monkeys.
I'm thinking of just passing all 4 exams in CPA, but not getting certificate(license), just for 2 following reasons:
1. It can be a strong signal in my resume that I'm a lot better than my competitors in the accounting stuffs.
2. To understand accounting very well, which may help me in the future workplace.
I know that just passing the exam won't make me CPA, and that the exam requires substantial period of time. But since I'm from non-target school, I think I need something to differentiate myself from others. Of course I'll do the must-do things such as networking, getting an internship, several extracurricular activities, and plus CFA lv1.
Will it definitely help me breaking in finance industry, or is it just a waste of time?
Just don't do this. There are better ways to boost your odds of getting in.
And if you go through all four exams for the CPA, why not get the license? Contrary to what you may be thinking, passing the CPA is actually... hard work. This is a pointless exercise.
So you don't meet the educational requirements or what? What would keep you from being licensed? If you don't meet the educational requirements in my state (Illinois) they won't let you register/sit for them, unless you are going to be meeting the requirements in the current semester.
What area of finance are you interested in? A strong accounting background can never hurt, but is more important in certain fields.
Well, I do meet the educational requirements already. The thing is that since I'm not going to be CPA, I just thought that spending a couple of years on working under CPA to get a license would be waste of time.
If possible, I want to break into i-banking, regardless of any position. (I prefer IBD, but since the job market is really competitive, and since most of positions in I-Banking seem to fit well on me, I don't care about the position.)
From experience, it is beneficial to have the knowledge required to pass the CPA on the job for IB. Having said that, bankers in general aren't that impressed if you have your CPA, and will actually give you harder technical accounting questions in interviews because they hold you to a higher standard. I think it will help you to have the CPA on your resume when trying to break into IB, but just be prepared for extremely technical questions. Also, if you're going to take the exams you should definitely get the certification, because then you will have a fall-back plan if the market crashes. You don't necessarily have to work under a CPA to fulfill the requirements, and just imagine this interview question: "So I see you passed all four parts of the CPA exam... why aren't you certified? aren't you old enough to have enough experience?"
I am a CPA and honestly, the stuff you learn from studying for the CPA is relatively high level. I think you will learn just as much from taking a few classes in university and if you add the CFA to that you will be ok. Plus, there is so much crap on the CPA that will have zero benefit (internal controls, IT systems, government accounting, tax etc).
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