Out On A Limb: CPA or No?

Bump please. I posted this in the middle of the night EST. I know there are plenty of threads on the value of CPA and I've read them. Any advice would be great, from anyone.

I have zero experience in accounting to take this with a grain of salt.

The way I figure it there's no reason not to study for the CPA unless there's something better you could be doing with your time. You could start studying now and if you end up doing something other than accounting you could just stop where you are. Sure you will have "wasted" that time, but I wouldn't consider that wasting time because you're hedging against a downside.

If your immediate goal is lateral to TAS(Transaction Advisory Services, I'm guessing?) then take the immediate steps necessary for that, and continue chugging along with the CPA in your downtime. Same with the GMAT, prioritize that over the CPA. I don't know why you'd practice cases now if you're planning on pursing consulting post MBA, unless TAS also does case interviews like consulting.

Lastly, just seek out some mentors either within your own firm or elsewhere who have a stronger background in accounting, I don't think there's too many people on this firm following that path. They'll be able to tell you both the value of the CPA and whether you'd be counseled out for not pursuing it, and you'll have a pretty clear answer of where to go from there.

I'd also post this on another71.com forum since that is more accounting oriented.

Lets see, Big 4 re-reimburses you 3k for study material, and they will give you a 5k bonus for passing within the first year. On top of which every big 4 auditor that is trying to breakout(and applying to the same jobs as you) will have the CPA.

The CPA can only help you.

Trying to get into TAS will be MUCH easier with your CPA. It is almost considered an initial pre-screen, as it is a relatively simple filter. TAS is considered "above" auditing, so they will take the best auditors, most of whom will have their CPA.

The real question is: why not? It's a chance to differentiate yourself from your peers (as a first/second year at least). Plus, the truth is that if you DON'T have your CPA, they will start to question it.

You can take the GMAT anytime. Strike while the iron is hot - focus and get your CPA done within a year. Then after 2 years audit you'll be primed to jump to TAS.

I would agree with Ruskii and Marathon218 on this. First of all, the CPA is career insurance and will help you at your current position (bonus, ratings, promotions). Also, to Marathon's point, TAS (at least at the Big 4 I just came from) wouldn't take you unless you were already a CPA (possibly a CFA - but certainly the exception). I would focus on the CPA now while it is fresh material, and then tackle the GMAT immediately after. The CPA study schedule will also help to prime your mind for the GMAT study sessions.

I just left a Big 4 (in an accounting advisory practice) and am starting full-time as an investment banking associate at an elite boutique bank. I didn't take the GMAT and do not have an MBA. I do have a MAcc, CPA, and passed Level I of CFA. You will never brag about your CPA when interviewing later for consulting / whatever. But it won't disqualify you. It has the ability to credential you. However - You do need to be careful that it doesn't reinforce the "brand" you will get as "being an accountant". You will need to get the right experiences to say that you have diverse and relevant experiences, and 'oh, by the way', I'm also a CPA. That is how it can help.

Good luck. Just remember, TAS doesn't take audit drop-outs. TAS takes audit rockstars. So even if you hate audit, which many current TAS people did, you need to be good at it and impress the people you work for.