FLDP or CPA
I currently have offers from a Fortune 100 FLDP and Big 4. I am not sure if the rotations in the FLDP will qualify as CPA eligible work experience. Would it be worth it to ditch the CPA route despite completing a Masters in Accountancy and go into corporate finance without the CPA? Or would I be giving up too much risking doing an FLDP where I may not be able to get my CPA? Most forums say between Big 4 of FLDP, take the FLDP, but I don't know if this is a factor that people are considering when making that assessment. I don't know how much value a CPA has but it seems like great job security and career advancement, two things that I value in a COVID-19 world where the economy can go to shit and fuck up my early career prospects. I have also seen many corporate finance offers get rescinded last spring while Big 4 offers tend to be safer in this environment. However, corporate finance is a path that I am interested in going into so that is something to consider as well.
In 10 years, do you want to be a controller or a director of FP&A, treasury, corp strat, etc?
If you want to be a controller, go big 4. If you know you want to jump into the corporate finance arm of a company, go FLDP. It makes no sense to go into big 4 and then have to fight your way into FP&A when you can just do that off the bat. It is not as easy to go big 4 -> corp fin at a F500 like many people make it seem. Its an uphill battle. Keep this in mind when making a decision.
The other important consideration is if you see an MBA in your future. An FLDP will serve you better for MBA admissions than big 4 audit/tax/some advisory groups.
Echoing WSOJohn's post above, plan what you want to do then make your decision. I got my CPA ~4yrs ago while in public acct then moved over to FP&A and it was only due to networking. Not an easy transition.
By going FLDP I am not sure you are precluded from becoming a licensed CPA, although state requirements may vary so check directly with the licensing board. In my state you can have a CPA, but the attest hour experience requirement is only necessary if you want to sign audit reports. This in reality is only necessary if you want to be an audit partner. You still can get an active CPA license using the "Certificate of General Experience" VS the "Certificate of Attest Experience", in CA at least.
Double check the above, but I think there is a way to have your cake and eat it too. Remember - you still got to pass all the tests while working, so it isn't necessarily a walk in the park but if you've already made progress while getting your masters, don't stop and just get the general CPA with the FLDP experience.
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