Break into accounting (BIG 4) w/o Accounting degree (undergrad)
I know there's not that much talk about accounting here, but I think I can get some pretty good answers here:
Wondering if a student doesn't major in Accounting or Business Admin get into accounting, hopefully a BIG 4 company. I'm currently an Economics major @ UC Berkeley with a 3.5+ GPA.
Unfortunately, I did not realize I wanted to do accounting until the end of my sophomore year so I couldn't apply to Haas. I've taken Financial and Managerial Accounting and really enjoyed them. Since then, I've started signing up for other accounting classes for my junior year like Auditing and Intermediate Financial Accounting.
I was wondering how hard is it to break into the Accounting field and possibly work for a Big 4 firm out of undergrad. I'm trying to get an internship for next summer after my junior year. I'm pretty sure big public accounting firms recruit heavily out of UC Berkeley, correct me if I'm wrong.
Thanks
Big 4 firms will recruit anyone displaying an interest in the field and a willingness to learn on the fly/sit and pass the CPA exam. If you have good grades (3.5++, especially if non accounting or business even) and are hitting their networking event trail hard, they will notice. If you're in IT or something more nuanced (engineering, etc) they have advisory practices which you could look to leverage. Again, email the recruiters, show up to events, sit up front, and pull grades that show you're capable. Everything else can be taught.
PwC Alum, used to do A LOT of recruiting.
Thanks for the response.
I'm just trying to gauge how much I can compete with those who did major in Business Admin. Does it really make that much of a difference that someone majored in Economics or something else instead of Business when it comes to getting an internship at a Big 4 accounting firm.
Again, recruiters do come a often to Berkeley but will they take people who aren't Business
I did economics in undergrad as well. Just go do a masters in accounting and problem solved. You shouldn't be at a disadvantage relative to your peers who did undergrad accounting > masters in accounting. If you have a reasonable GPA (3.5+), extracurriculars, and interview half decent you shouldn't have a problem getting an offer from UC Berkeley.
The only thing that may hurt you is if you start the Macc in the fall, because you won't have an accounting GPA to show them during the recruiting season (usually the fall).
Thanks for the response. Do I really need to do a MAcc to land an entry level accounting job out of undergrad?
I was planning to get an internship next summer then graduate and hopefully be able to land a job at a public accounting firm because they recruit so heavily at Berkeley.
Many Business Admin majors do this. Can I do the same with an Economics degree?
I'm really hoping to get an offer after I graduate as an undergrad and work towards the CPA requirements.
You still have a chance. I got a Big 4 offer without accounting degree and having taken 2 accounting classes.
Yes definitely will take Econs, and Math majors as well. The firms will be more interested if you are 150hours/CPA eligible (which is doable in 4 years, I did, granted as an ACCT major -- it may require some additional accounting courses for the non accountant).
Hi Beny23! I'm currently a senior mathematics major looking to apply for the Big 4 accounting firms. Do you think that we may be able to get in touch so that I can ask you questions about your track?
I sent you a PM
Breaking Into Accounting (Originally Posted: 03/29/2010)
This is just a hypothetical question. Let's say someone worked in a non-accounting role for a few years, and decided that they wanted to go back to school and pursue a career in public accounting (also assume the person doesn't have an undergrad degree in accounting). Which degree would be best to pursue, the MPAC or the MBA, and why? Do you think this would be a wise backup plan if finance didn't pan out like this hypothetical person wanted?
Not sure what an MPAC is, but the Master of Accounting degree is probably better for someone looking to get into accounting. It's shorter and more focused on the stuff that you'd need to get into accounting. The MBA takes more time and money. Also, in this way you can also save the MBA in case you want to do something other than accounting later on.
I've had friends who worked a year or two in non-accounting, did the MAcc and went to work for a Big 4 accounting firm.
Yeah, I meant the Masters in Accounting. Sorry for the confusion, I put MPAC because I think some schools call it a Masters in Public Accounting.
In your situation I would recommend going to The University of Texas for their Master in Professional Accounting program; average GMAT score is around 660-670.
About 85% of graduates go into public accounting o/w 95%+ end up working in big 4. It gives you great opportunities into banking and consulting as well.
What else can one do with a MAcc? Obviously Big 4 audit/tax, but what about jobs in finance? Specifically, how hard is it to land investment banking analyst gigs or equity research jobs? And what kind of finance exit opps exist for someone who went the Big 4 audit/tax route for a few years?
Seems like some places like UT place some of their grads in "IB and other financial services" every year so it sounds like it's possible. What exactly those jobs are, I don't know.
One of my staff at the Big 4 used me as a reference for an equity research gig at a boutique. He only worked a couple of years and got in.
Looks like someone just posted this that might be helpful: http://www.wallstreetoasis.com/blog/8-tips-for-your-big-4-interview
5 might be overkill 6 this is good to get rid of interview jitters. sign up for mocks early or resume screens early at career center since spots fill up fast 8 i think its fine if you send an email. i can't speak for all groups but in my experience, our decisions are made before you even have time to send a thank you email (at least for final round)The reason for the Macc is to fulfill the 150 hour requirement to sit for the CPA exam. This can be done in undergrad, but it usually takes a double major (acct+finance is typical). If you don't have 150 hours, they will expect you to do something to fulfill the hour reqs.
To put it bluntly, if you haven't already met or don't plan to meet the requirements to be a CPA, you won't be considered for the audit/tax roles. If you're very against doing a Macc, look at advisory positions, although they are tougher to come by.
I would echo what has been said above as such is very solid advice.
The single most important item that you need to be able to address is meeting the CPA requirements for the state in which you seeking employment. I’m not sure what the requirements are for CA, however, there are nuances among states (i.e., some states now require a CPA candidate to pass an ethics exam in addition to the four basic examinations) and thus it may be easier/more involved.
The reason CPA eligibility is so important is (i) it shows dedication on your behalf to the industry, and (ii) the costs associated with training younger employees are significant and firms would ideally like to retain people for longer periods of time given such costs.
As for your concern about not studying accounting, it should not affect you insofar as you will meet the CPA requirements, which typically involve a certain number of accounting credits and specific courses therein (again, this varies by state). Given you can develop a roadmap to achieve your CPA, this should check the box for you. Further, I would recommend spending time reaching out to partners as these are the people who have hiring abilities; accounting interviews are behavioral in nature and so there should be no reason not to reach out given some diligence on the firm, culture, etc.
**If you need to take specific courses, look into online classes; I have had several friends take online classes as they were significantly easier and much easier to fit into your daily schedule. I am not recommending that you attempt to complete all of your accounting credits online, however, if you are coming up one or two classes short this could be an easy solution.
Since you went to berkeley, you likely have AP units - those count towards the 150 units requirement. You also can finish your accounting unit requirement after graduating by taking online classes at a JC like Foothill (if needed).
Thanks for all the responses. They have been extremely valuable! I never expected such great conversation.
I am a little concerned about being CPA eligible the time I graduate. It might be possible but pretty difficult. As expected, I asked a recruiter about the CPA eligible req and only the advisory group doesn't need it done.
I understand the online courses method to get the requirements done, but I'd rather not do that. I inquired about finishing accounting courses the summer after graduation at a CC and a PwC recruiter told me they're pretty flexible about that and you would just start your full-time job at a later date.
What do you guys think? I'm concerned they'll write me off as not on track to be CPA eligible when they look at my transcript during Fall hiring. Should I say on my resume that I'm confident I can be CPA eligible by the time the job starts?
Also, how difficult would you guys say it is to get into the advisory group compared to the audit and tax group? Thanks.
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