Recently I’ve started thinking about heading into the Big 4 after getting my CPA and working on the CFA while at the Big 4. I know the experience wouldn’t qualify for the work requirement, but would this move make any sense? Also, does starting in auditing vs. tax vs. other departments make a difference for heading back to investments? Any advice?
Not sure about the states, but here in Canada, im planning on heading into the Big4 after Ugrad to get my CA (while studying CFA). While im there ill be required to do some time in Auditing (aprox 1 year), then move to the Advisory department, or maybe even the Wealth Management department of certain accounting firms. I’ve discussed this approach with a few people, and they say its a great path…but i can only speak for Canada.
Just got out from mid tier accounting firm…2 of the big 4s are asking me for interview. Taking CFA level 1 this dec. In addition, I have an engineering degree on top of my masters in accounting. So my path will be to stay on in Big 4 audit for another 3 years to chalk up more time for my CPA and if possible move to corporate finance/advisory using my CFA thereafter. I guess if your intention is to get your CPA, it will be a good idea to work in the Big 4 while obtaining your CFA. Cos thats what I intend to do.
The only hurdle I have left is to pass the CPA exam - now that you can take it in parts, I don’t see it being an issue at all. My question is, if I like finance but am having a hard time getting in currently, will the Big 4 experience allow me to get into the investment firms?
goldenkah2 Wrote: ------------------------------------------------------- > The only hurdle I have left is to pass the CPA > exam - now that you can take it in parts, I don’t > see it being an issue at all. My question is, if > I like finance but am having a hard time getting > in currently, will the Big 4 experience allow me > to get into the investment firms? Yeah it wont hurt, its better then staying in the BO all the time, atleast you’ll learn something. Im going the same route as MEZ, im alread a level 2 candidate but now im doing all my undergrad accounting credits to start as a staff accountant and enter the CA program. Even if i dont get into finance being a CA is a pretty cool job with decent pay.
SeanC Wrote: ------------------------------------------------------- > goldenkah2 Wrote: > -------------------------------------------------- > ----- > > The only hurdle I have left is to pass the CPA > > exam - now that you can take it in parts, I > don’t > > see it being an issue at all. My question is, > if > > I like finance but am having a hard time > getting > > in currently, will the Big 4 experience allow > me > > to get into the investment firms? > > > > Yeah it wont hurt, its better then staying in the > BO all the time, atleast you’ll learn something. > > Im going the same route as MEZ, im alread a level > 2 candidate but now im doing all my undergrad > accounting credits to start as a staff accountant > and enter the CA program. Even if i dont get into > finance being a CA is a pretty cool job with > decent pay. Sorry to break it to you and not to be mean but CA is not a job but a designation…you can do many jobs with the CA designation from your own accounting firm to working for big 4, etc… For all of those who are pondering a path down accounting only to switch to finance, why waste time?? Go right into finance… might be less money at the beginning but will help you with your CFA Studies and work exp. for CFA. If you guys are thinking of going into advisory role, a good route is to go into assistant or associate role first. Learn the inns and outs of the business then move your way up.
N.VanCandidate Wrote: ------------------------------------------------------- > SeanC Wrote: > -------------------------------------------------- > ----- > > goldenkah2 Wrote: > > > -------------------------------------------------- > > > ----- > > > The only hurdle I have left is to pass the > CPA > > > exam - now that you can take it in parts, I > > don’t > > > see it being an issue at all. My question > is, > > if > > > I like finance but am having a hard time > > getting > > > in currently, will the Big 4 experience allow > > me > > > to get into the investment firms? > > > > > > > > Yeah it wont hurt, its better then staying in > the > > BO all the time, atleast you’ll learn > something. > > > > Im going the same route as MEZ, im alread a > level > > 2 candidate but now im doing all my undergrad > > accounting credits to start as a staff > accountant > > and enter the CA program. Even if i dont get > into > > finance being a CA is a pretty cool job with > > decent pay. > > > Sorry to break it to you and not to be mean but CA > is not a job but a designation…you can do many > jobs with the CA designation from your own > accounting firm to working for big 4, etc… > For all of those who are pondering a path down > accounting only to switch to finance, why waste > time?? Go right into finance… might be less money > at the beginning but will help you with your CFA > Studies and work exp. for CFA. > If you guys are thinking of going into advisory > role, a good route is to go into assistant or > associate role first. Learn the inns and outs of > the business then move your way up. i know what a CA is. so you think all the time working in OPS or BO in a finance firm and plugging for the rare FO job opening is going to add any value to your resume or improve your skills? you learn and earn alot more even working in assurance at a big four, most BO jobs are a dead end while the experience you get while attaining the CA designation gives you plenty of exit ops.
it seems like a lot of us canadians are getting the CA even though we want to move to finance eventually. why is that so? is it just the nature of competition in canada? and by having a CA would provide some sort of leverage into finance? Also im getting mixed signals about working in accounting. on one side people say that its dull and repetitive, but on the other side (usually from canadians), a CA working in big4 is at the top (after being an i-banker). could any body elaborate on my observation?
I am in one of the big 4, I think accounting exp will definitely help to get you a job in finance, but not any investment/asset management etc kind of job…There are M&A, PE functions within big 4 too, but they only want the best manager level auditors. I’ve never heard any one who left the firm and became an IBer. But if you stick around long enough to make a partner, you’d have a secure job and make at half mil (I heard?). I think it is a pretty lucrative career path, well, only if you like auditing. But I do see people who worked here for 4 years and got the CFA charter,i.e i think the exp qualifies for CFA.
jaz Wrote: ------------------------------------------------------- > it seems like a lot of us canadians are getting > the CA even though we want to move to finance > eventually. why is that so? is it just the nature > of competition in canada? and by having a CA would > provide some sort of leverage into finance? > > Also im getting mixed signals about working in > accounting. on one side people say that its dull > and repetitive, but on the other side (usually > from canadians), a CA working in big4 is at the > top (after being an i-banker). could any body > elaborate on my observation? all the people i know who work as CAs love their jobs…i think there is a big difference between being a cpa in the states and being a CA in canada or the UK. accoriding to CA’s, so this is bias, the CPA is just not as rigorus as the CA and it certainly isnt the same pay wise. the average CA in BC makes 147k a year, the average for someone who just qualified is 65-75k and they all barely work more then 40 hours a week.
The CA is almost worshipped in Canada. I was talking to a VP at a VERY large investment management firm, and he told me the CA is THE way to go in Canada for a career in finance. He told me its alot easier to break into Finance if you do your CA, compared with getting a CFA. Also, the demand for CAs is ridiculously high right now so jobs are guaranteed, 100% placement…however if you go to Toronto everyone and their mothers is a CFA or MBA holder. SeanC, have you finished your recruiting yet for next year? I just did my last interview with KPMG yesterday (summer intern) and it went really well so im pretty confident (ill find out next week if I get any offers). I never knew the competition for summer internships was so fierce (atleast here in MTL)…they got ~1000 applications and will only accept around 35-40. How is it where you live?
the value of the key accounting credential seems quite different in the states. A CPA/CA in the states will guarantee a decent starting accounting job at a mid-tier or a Big 4 firm paying 50-70 K. But accounting on a whole seems to be far less lucrative than finance in the states. I know that the Big 4 transaction services element seems to bleed people with 1-2 years experience regularly into IBD analyst positions. But in canada/UK having CA seems to be much more powerful. In the states, the numbers of CPAs are enormous…
Mez, which college you go to ? Concordia ?
Yup yup
Good luck Worked with E&Y in 2006
Mez Wrote: ------------------------------------------------------- > The CA is almost worshipped in Canada. I was > talking to a VP at a VERY large investment > management firm, and he told me the CA is THE way > to go in Canada for a career in finance. He told > me its alot easier to break into Finance if you do > your CA, compared with getting a CFA. Also, the > demand for CAs is ridiculously high right now so > jobs are guaranteed, 100% placement…however if > you go to Toronto everyone and their mothers is a > CFA or MBA holder. > > SeanC, have you finished your recruiting yet for > next year? I just did my last interview with KPMG > yesterday (summer intern) and it went really well > so im pretty confident (ill find out next week if > I get any offers). I never knew the competition > for summer internships was so fierce (atleast here > in MTL)…they got ~1000 applications and will > only accept around 35-40. How is it where you > live? I live and vancouver and have NONE of my accounting prereq credits yet so ive gotten turned down by all of the big four so far :*( if you mind me asking what was your GPA? I need an idea of what they are looking for. My undergrad (i graduated in 2005 with a sociology/economics degree) GPA was complete shit, i got like a 2.72 gpa. Hopefully i can redeem myself.
Thanks Alayle, Sean, dont worry about it, the summer is especially tough because its far from busy season, so they hire alot more for full-time starting in september/october. and my GPA is a 3.5, but i was told that they usually cut off around 3.0 (80%) +/- .3 depending on how many applications they receive…but i can only speak for mtl.
Mez Wrote: ------------------------------------------------------- > Thanks Alayle, > > Sean, dont worry about it, the summer is > especially tough because its far from busy season, > so they hire alot more for full-time starting in > september/october. and my GPA is a 3.5, but i was > told that they usually cut off around 3.0 (80%) > +/- .3 depending on how many applications they > receive…but i can only speak for mtl. so do big4s usually place GPA as their main priority when recruiting? Also do you know how hard it is to get into TAS in summer? and are all of those functions done at toronto only?
GPA is not really the only thing, but it IS one of the first things they look at. I thought that the advisory services were REALLY difficult to get in before talking to the recruiters, but now I realize it is a very possible option. Almost all the summer interns at KPMG (atleast here in montreal) were able to do 2-4 weeks of their internship in another department, including Advisory services (which includes TAS). Im planning on asking for that specific department also.
Mez Wrote: ------------------------------------------------------- > GPA is not really the only thing, but it IS one of > the first things they look at. > > I thought that the advisory services were REALLY > difficult to get in before talking to the > recruiters, but now I realize it is a very > possible option. Almost all the summer interns at > KPMG (atleast here in montreal) were able to do > 2-4 weeks of their internship in another > department, including Advisory services (which > includes TAS). Im planning on asking for that > specific department also. thats what i like about kpmg they actualy have an assurance/advisory rotation for articling students…also all the kpmg people i met at the recruiting events where really cool, i think id love to work there. however im worried about my grades, im going to have to work pretty hard to get a 3.5, asides from CFA im not a good student I tend to get bored rather quickly. I wish university was more like the CFA program.