Ask a CPA

The job market has become increasingly more competitive over the years. While I never applied for an accounting internship, I feel most firms have the same hiring process for potential intern and full-time candidates. From my experience interviewing for full-time positions, as well as from helping with recruiting at PwC, I offer the following suggestions:

1) Do well in school. Having a high GPA (3.5+) shows potential employers that you have the academic aptitude to add value to their firm.

2) Get involved! It's not enough to have a stellar GPA. Get involved with organizations that interest you on campus, and hold leadership position(s) in these organizations. Employers don't necessarily care about the quantity of extracurricular activities, but rather the quality. In our jobs, it is crucial to be able to balance multiple things at once - having a high GPA and holding leadership in activities show employers that you're able to prioritize and multitask.

3) Network, network, network. I cannot stress this point enough. Employers probably won't offer you an internship after your freshman year, but you could always try to do a job shadow in your early college career. I would recommend going to career fair as a freshman/sophomore to give you practice in speaking to employers, but also to help build relationships with people at firms that interest you.

For instance, my freshman year, prior to even declaring myself as an accounting major, I had the opportunity to meet with a partner at PwC. Over the years, we maintained a relationship, so that by senior year when I applied for a full-time job, he knew who I was and what I achieved throughout College. I truly do feel that network which started my freshman year made a difference.

4) Research the internship program. Prior to career fair and the various interview rounds, make sure you research the firm and the position you seek. By doing your research, you can ask meaningful questions and help set yourself apart from your peers.

5) Participate in a mock interview/go to a resume critique. To gain constructive feedback in how to improve your professional interaction skills, I strongly suggest signing up for a mock interview. Also, resume critiques will help you strengthen your resume and highlight the points that will matter to recruiters. Note that accounting firms conduct mock interviews and resume critiques - these opportunities could serve as another great way to network!

Good luck in your quest for an internship! It's a competitive and rigorous process, but the steps above should help make you a stronger candidate.

Internships & First Job, Public Accounting

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That is a great question! The hardest thing about successfully completing undergraduate, graduate and the CPA exam was finding the time to devote to my studies. I believe that one should always strive for academic perfection even if ultimately it can’t be achieved.

In my undergraduate program I was on a full basketball scholarship which meant prioritizing my time was essential. I had to endure long practices, late night study sessions, a hectic travel schedule which required me to take exams earlier than the rest of my classmates, and constantly utilize all my professors office hours because I was a dual major.

In my graduate program time management became even more important because I started working full-time and training to make a professional sports team. Graduate school was intense and required a level of commitment quite different from anything I had ever experienced. I traveled for basketball tryouts, played in semi-pro leagues, worked as a temporary consultant and performed my graduate assistant duties at school for two-years. Upon graduation I joined PricewaterhouseCoopers, studied for the CPA exam, and played professional basketball.

Education in and of itself is a powerful tool. Always create the necessary time to learn as much as possible so that you can constructively impact our global society in ways people have never imagined.

Colleges & Classes

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First off, if you’re interested in pursuing accounting in the long run, you should read the requirements to become a CPA. Some states require a Masters degree or 150 credit hours in college or work experience in a public accounting firm. Find out what your state requires here: www.startheregoplaces.com

Accounting is a good way to learn the fundamentals of how any company operates. You’ll be privy to learning the cash inflows and outflows, the financial structure of the company, and how to help a company plan for the future. It’s a very useful background to have.

Internships & First Job, Public Accounting

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The market today looks roughly like it did about 15 years ago. CPAs are still in demand. However, multiple offers for accounting majors right off campus will not be automatic. In today’s economy, large firms and companies are closely scrutinizing their hiring budgets and current headcount. It’s no secret that some public firms recently experienced a period of layoffs or right-sizing, appropriately named for counseling out poor performers. But it is not well known that many small CPA firms continue to weather the tough economy well. And there are also parts of the country and specific industries that have seen little negative effects of the recession. In those small firms and markets, we see job opportunities for accountants, especially CPAs. Check it out for yourself by reviewing the job postings on the AICPA’s CPA Job Finder at www.cpajobfinder.com.

In the 2009 PCPS CPA Firms Top Issues Survey, the majority of responding participants anticipated no change or even a slight increase in hiring between years. (Visit tinyurl.com for more on the survey.) Some medium-sized firms have told us that they are continuing their internship programs and will be hiring off campus again this year. And all firms agree that it won’t be long until the talent war for strong accountants is again in full force. They just don’t know exactly when this happen.

Although the job market for accountants has slowed as compared with a decade of a seller’s market, there remain opportunities. And the bottom line is that top performers and those with credentials, like a CPA, have great advantages over the rest of the competition.

Being a CPA, Professional Community

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Choosing a college can be a strenuous process if you do not begin with an adequate amount of lead time. So start as early as you can when performing your due diligence. In my opinion, there are a few things to consider:

1) Quality

2) Cost

3) Fit

Quality - Ensure that the educational institution has gained a quality nationally recognized accreditation of their business program at a minimum. A nationally recognized accreditation of their accounting program is a plus. The state university I attended had their college of business accredited by The Association to Advance Collegiate Schools of Business (AACSB). Their accounting program was not accredited but had a good reputation that allowed me the opportunity to interview with national accounting firms which further me to begin to build a solid career resume when I graduated. A distinguishing factor with my resume was that I had earned adequate credits through my universities' program to be able to sit for the CPA exam. I would highly encourage anyone thinking about an accounting career to be positioned to be able to sit for the CPA exam when they graduate from college.

Cost - Be reasonable with what you and/or your family can afford. I cringe when I hear of students who attend a prestigious college that is very expensive and then drop out after a year or two because they feel it is too costly or that they do not want to accumulate more student debt. It is better to get a degree from a lower cost school than end up with no degree at all. If you have to utilize loans as a way to complete your degree, keep in mind that not obtaining a degree makes it even more difficult to pay off student loans after college. My degree is from a state university and I have had and continue to have many people working with me and reporting to me that spent significantly more on their education. While the prestige of the institution may have some bearing on obtaining the first interview of your career within a select few organizations, the dedication, work ethic, and responsiveness to your career commitment will be more important than the prestige of the educational institution that you attended. If there is an organization you are intent on working for before you enter college, inquire of their human resource department and see if they have certain educational institutions that they exclusively recruit from. Most accredited accounting programs do not have a shortage of good job opportunities for their graduates who have a solid GPA and are well rounded in their extra-curricular activities.

Fit - Pick an educational institution that fits your personality within reason of cost. Do you like large classes? Do you like the city? Do you like rural settings? Do you want to be able to see your hometown friends and family often? Does it have an active campus community? Does it have active extra curricular clubs and intramural sports? The list is endless, but consider these points. Never choose a college solely because someone else has went there or a friend is going there......choose it for yourself and the fit it has with your values in life.

Once again, start early in your research of educational institutions and look for quality, a balanced approach to cost, and ensure the educational institution fits you personally. This approach with most likely lend itself to picking the right college for yourself.

Colleges & Classes

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