Accounting major advice
Hello everybody, currently I am a sophomore at a local community college and will be transferring to Rutgers Newark as an accounting major Spring 2014. I have a few questions for anybody who has experience or can offer me some advice.
1. When should I start looking for internships? Besides working in the summer at local restaurants as a buy boy I do not have any other experience in the business field. Being that I will be a Jr. when I transfer to Rutgers should I look for an internship that summer of Jr. year?
2. Will it be difficult for me to find a job when I graduate with a degree in Accounting? Right now I have a 4.0 gpa, I know that I can definitely maintain a fairly high gpa when I transfer as well. What opportunities will be available for accounting majors with high GPAs from a non target?
3. Should I delay looking for a job to take my CPA exam right out of college? It seems logical to take the exam right out of college so that the material is fresh and I can get it out of the way. Although I will not actually get my CPA license until I have 150 credits in the state of NJ but at least I passed the exam and the most difficult part is behind me.
4. What are the potential earning for a CPA down the road?
Thank you
1) RIGHT NOW. I'm not kidding. It's march so most internship programs are full or filling up. Hit the pavement. And yes, you'll need internships next yr, too. I cannot stress the importance of internships in this business-any edge in practical experience you can obtain will help big time in hiring meetings.
2) Depends. A 4.0 and an Acctg. degree should get you some solid looks at the entry level. At a minimum, companies will know that you'll be extremely easy to train in their systems. However 0 internships and/or references would keep you from standing out. Your best bet is to attend any career fairs that take place on campus. At my non-target craphole school plenty of reputable companies came through and snatched up our Acctg. majors.
3) You really think you could prepare for the exam and all of its parts that quickly? It'd show real initiative and send the right signals to employers about your dedication to Acctg. But if you fail...you just wasted your time-and a chance to obtain some real experience. I'll let CPAs weigh in on this one, though Not knowing your specific situation/motivation/time availability i'd say as a rule of thumb it's better to get work experience ASAP. companies just don't want to take chances on people in this environment.
4) Depends on what you expect to be doing. For some perspective..The CPA to whom I reported (also had a Masters in Acctg), easily cleared 125. And his boss was also a CPA. so you can imagine. They both had big 4 experience, though.
Thank you for your post, however, like i mentioned I am still at community college and there are absolutely no opportunities for internships through the school. I will be transferring to Rutgers after fall semester so by then I should be able to get some I guess.
you should still try to find some kind of internship (doesn't matter that none are offered through school). 4.0 from rutgers, you should be able to get into big 4 audit if you do an internship or two and join some clubs or something. absolutely do not delay getting a job right out of college, most of the big 4 firms have pushed start dates back (at least for the time being), which will give you enough time to take the cpa over the summer/early fall before you start working
Does it exactly matter where I do my internships at?
Obviously the better the place the better your chances, but for kids straight out of college when I did interviews I looked specifically for evidence of competence. So did my bosses. The truth is, we assume that fresh college grads don't know much of anything anyway. I specifically remember picking a kid who had pretty good Oracle and SAP experience at a no-name over someone who had interned at Dresdner Kleinwort (remember them?). Depends on your goals, though. For entry level corporate finance or corporate accounting gigs in the 45-60k range, your familiarity, skills, and experience will matter more than anything else. If you're looking to go Big 4, Government, Consulting, etc. then the other glamour factors come into play.
Right out of school I guess I would look to get into big 4. What do you mean other glamour factors come into play?
It's just shorthand for stuff like whether you're in a grad program at the time of recruitment, the types of internships you've previously held, the importance of the names of places you've worked, etc. i.e. the window dressing.
Get solid grades and some decent internship experience and you won't have to worry. Even better if the Big 4 recruits at your school, which shouldn't be an issue for Rutgers. Try to join a professional organization as well, if possible.
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