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Starting career: Fortune 500 company vs regional cpa firm

post #1 of 5
9/29/10 at 6:52pm
Thread Starter 

Hi guys, I need advise. My major is accounting. One of my aim is to get into big 4, however, I can't get interview on my campus hire. I'm getting offer as
(1) Forensic Accounting & litigation services associate in one of the regional accounting firm
(2) Rotational program in one of the Fortune 500 (Finance/mutual funds), which I might be able to choose their internal audit department.

The pay is better on Fortune 500 company. What do you think is better for career wise? I'm thinking of choosing the regional firm, get my cpa and try to apply again in 2 years to the big 4 as experience hire.

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post #2 of 5
9/29/10 at 7:47pm
I've been through a bit of the same and it looks like I'll go with a smaller, local CPA firm. The pay isn't as good, but it will get me a CPA license. I poked around the Big 4 and some of the bigger regional firms, but it looks like 95% of the jobs are for experienced hires unless you go through their summer/intern programs.

My way of looking at it is that I'll be better off with a smaller local for the year of experience I need to get the license. It's not that long and it sure looks like the doors will open once I get the license. Then again, I might stay at a local firm if there's a good advancement path to partnership.
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post #3 of 5
9/30/10 at 10:52am

Internal audit is very dead-end - it will kill your shot at getting into a public accounting firm later, where they tend to only hire fresh grads for associates positions.  If youre willing to give up on auditing and instead consider a finance path, that Fortune500 opportunity is not one you should pass up lightly. 

 

At the same time, everyone I know who went into forensic accounting has fallen in love with it smily_headphones1.gif  The Big4 are not all theyre cracked up to be, with often lesser pay than the largest regional or international firms, requiring a ton more work, and are a hell for encouraging excessive competition between associates.  Unless youre dead-set on working on the largest companies in the world, there are more fulfilling options out there.  So long as you dont get stuck in a tiny firm where you will end up doing personal income tax returns and payroll all day, I would go with the smaller firm. 

 

 

Erik, I'm surprised you had trouble entering the Big4, given that you are a member of the bar.  In most states these days, working in tax will be sufficient for satisfying the CPA work requirement, in place of auditing.  These firms LOVE lawyers, especially in international tax and SALT.  Plus, you'll get an audit rotation, so youll definitely get that experience as well. 

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post #4 of 5
9/30/10 at 1:21pm
Doug, unfortunately, I haven't done any significant tax work other than modest returns for the family biz. All the legal stuff was in criminal, divorce, juvenile, and corporate litigation. I haven't ever worked for a CPA firm, and it seems most places want two years before they'll even consider you.

Anyway, I think this will work out. I just wound up in the desert where I'll help out the family business for a bit. My father needs a break. There are a few smaller CPA firms here, so I'll go pick up hours with one of them. I'm also out of that 70-90 hour a week law firm, there's not much traffic down here, and I'm finishing out a 500 square foot shop. So... I'm changing direction here and enjoying it so far. We might eventually hire someone to take care of the business, but that's a couple years off. We'll see what happens.
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post #5 of 5
9/30/10 at 6:48pm
Thread Starter 

Thank's for the input guys. It's just being accounting major, you've been drilled on big 4, big 4, big 4. I knew how brutal big 4 is especially in busy season. I got couple of friends who work there. I thought with my gpa and intern experience, I'll be able to score one big 4 job and find it discourage not even got the interview. Especially after going through all the hoopla to know the recruiter, to network and stuff. It's just I'm looking for starting job which give me greater flexibility 2-3 years down since I'll be looking to move to west coast or even overseas.

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