Incoming IB Analyst with Accounting Background - Is Getting a CPA License Worth It?
I graduate with my Master’s in Accounting this December. I don't start my FT IB Analyst job until July 2021, leaving me 7 months of down time. I originally allocated this time to study for the CPA exam, but given that I won’t be working in public accounting, I won't be able to become "licensed" despite having passed all four parts... is this process even worth it?
What pains me about the CPA is dropping $3k+ on test prep materials (my firm won't reimburse me) for an exam that won’t allow me to get "licensed," so I'm concerned that this endeavor would be a huge waste of time and money. Does just being able to say you passed all four parts of the exam without an official "license" pay off in the long run? Also, will having passed all four parts but not being "licensed" give me an advantage in eventually becoming a CFO as opposed to a non-CPA?
If I decided not to take the CPA, I would instead dedicate the 7 months to 1) working for a local PE firm back home and 2) prepping for PE recruiting by getting more familiar with the interview process. I feel like the latter may be very beneficial -- many of the LBO tests PE firms are giving nowadays are becoming more complicated, given that they're now take-home and you have a computer to help Google things. Thoughts on this? Appreciate any feedback.
Got my CPA while doing Big 4 audit. Then did MBA Associate route and now at BB NYC.
I’m only a couple months in but the accounting background has been more helpful than having the actual license. Don’t think anyone would really care in banking if you had it or not but it might benefit you down the road if you’re ever looking to move into a CFO type role. Overall though, I think there are probably better ways to use your time.
Clearly I only read the first paragraph of your post but hopefully still helpful.
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