should I get the CPA? - Business, Finances and Investing Forum

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should I get the CPA?

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02-13-2011 , 06:01 AM

theblueprint

journeyman

Join Date: Jul 2008 Posts: 232

I am a business (entrepreneurship focus) and accounting double major from USC about to graduate in May.

While accounting is one of my majors, I DO NOT like it - to me, accounting is tedious, and doesn't allow for much creativity/individuality, and I will not be working for an accounting firm upon graduating.

My mom keeps insisting me to go get my CPA, esp since I don't have a job yet so I will have a few months of downtime, but I don't want to do accounting, so I don't see what a CPA would add. I would rather use my downtime to actively find a job + start a business or travel while I still can.

Thoughts? Advice?

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02-13-2011 , 10:38 AM

burkoboy

veteran

Join Date: Dec 2005 Posts: 2,160

its a lot harder then you think.

if you are even questioning it and not fully committed to it, you probably won't be successful completing it. I have friends doing it now and they havent had lives for the last 4 months

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02-13-2011 , 12:03 PM

DOOM@ALL_CAPS

old hand

Join Date: Feb 2010 Posts: 1,326

If you are working for an accounting firm, yes get it.

There is usually a bonus for getting it and your salary should be substantially higher when you get it.

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02-13-2011 , 12:33 PM

YourSOULinMyPOCKET

banned

Join Date: Aug 2010 Posts: 311

Quote:

Originally Posted by DOOM@ALL_CAPS

If you are working for an accounting firm, yes get it.

There is usually a bonus for getting it and your salary should be substantially higher when you get it.

Did you read the OP

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02-13-2011 , 12:57 PM

DOOM@ALL_CAPS

old hand

Join Date: Feb 2010 Posts: 1,326

Quote:

Originally Posted by YourSOULinMyPOCKET

Did you read the OP

Haha. Yes I did. But I guess I'm still too drunk from last night b/c I missed the not part of this statement: "I will not be working for an accounting firm upon graduating."

My advice then is to not get the CPA if you don't plan on working in accounting.

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02-14-2011 , 09:04 AM

ryhenicee

Carpal \'Tunnel

Join Date: May 2008 Posts: 21,386

My wife got here CPA about a year ago and I agree you will not do well if not fully committed. She worked full time and study another 25-30hrs a week for about a year straight and was still unable to pass it the first go. If you are not going to be in acct I see no reason to get it besides to give you a leg up on getting the door to your next job.

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02-14-2011 , 10:58 AM

Albinoritz

journeyman

Join Date: Jul 2010 Posts: 242

I'm a CPA, but as people have said if you aren't committed to it, you might as well not even try to pass the exam. Since you dont want to work in accounting it would really just be a waste of time anyway.

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02-14-2011 , 02:07 PM

Freakin

bacon wannabe

Join Date: Sep 2004 Posts: 17,152

IMO accounting is fresh in your mind and if you are ever going to pass the exam it is going to be soon.

I would highly recommend putting in the time to study and take the exam now as a fall back plan. Accounting is a profession that is pretty much always in demand if your job search does not go as you planned.

If you do desire to start your own business you would have a trade you are certified for if other ideas don't pan out, and accounting is an invaluable skill for any small business owner regardless

TBH a Business Degree doesn't really prepare you for much.

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02-14-2011 , 07:57 PM

xcesswee

grinder

Join Date: Mar 2008 Posts: 433

Don't see any point in getting a CPA if you don't want to work for public or private accounting. If you enjoy Finance more than I suggest getting a CFA level 1 and maybe 2 if you are having trouble finding a job right now.

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02-15-2011 , 11:32 AM

#10

J-Lo

old hand

Join Date: Mar 2004 Posts: 1,678

Quote:

Accounting is a profession that is pretty much always in demand.

This is not true anymore. In demand skills are cyclical. My friend has 2+ years at deloitte auditing, a cpa, and a couple years at
Publicly traded companies as a senior staff accountant. He can't find work, so he plans on going to law school.

The current market for IT is boomin (cyclical).

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02-15-2011 , 12:00 PM

#11

Albinoritz

journeyman

Join Date: Jul 2010 Posts: 242

Quote:

Originally Posted by J-Lo

Where does he live? Accounting recruiters call me nonstop here in Indy with job offers. I have friends around the Midwest who are in the same situations.

About a year or year and a half ago, during part of the "recession" it might have been a little harder to find a job. Accountants are always in demand though, maybe not quite as much as IT, but I can't ever think that it would be hard to get a job in accounting with a CPA and Big 4 experience, companies love those types of applicants

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02-15-2011 , 01:04 PM

#12

greedynyc

grinder

Join Date: Oct 2009 Posts: 656

if thats your attitude already. you will be making a big mistake... go for the upside in life and go with finance/trading

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02-15-2011 , 01:40 PM

#13

ArturiusX

Carpal \'Tunnel

Join Date: Sep 2004 Posts: 19,114

Quote:

Originally Posted by J-Lo

In my experience this is the opposite. IT is not booming. Programming is, but programming isn't exactly IT.

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02-15-2011 , 02:27 PM

#14

Freakin

bacon wannabe

Join Date: Sep 2004 Posts: 17,152

Quote:

Originally Posted by J-Lo

Lol? How does he think that is going to work out better for him? There are definitely too many people out there with law school degrees, unless he is getting a JD for tax law.

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02-15-2011 , 03:50 PM

#15

ArturiusX

Carpal \'Tunnel

Join Date: Sep 2004 Posts: 19,114

Law school might be good for him if he's going to combine it with his accounting knowledge, but if he's planning on becoming a vanilla lawyer its probably a really bad idea, because the job market is horrible for all except top tier grads.

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02-16-2011 , 04:49 AM

#16

zzthe3rd

veteran

Join Date: Jun 2010 Posts: 2,422

Well to be fair with what he has on his Resume, which also implies that he is a smart guy and capable of doing quite well on the LSAT, he should have a damn good shot at Northwestern unless he completely bombed his undergrad GPA. That said, the consensus is going to be if he doesn't know for sure he wants to be a Lawyer, law school is a terribad idea.

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