Sit or not to sit for the CPA exam

[Ja Rhule]

I graduate with 2 degrees (Finance and Accounting) and I can't find a damn job. I've been looking for 6 months and nothing, not even a single interview. Just bunch of rejection e-mails stating the obvious... no experience. I had a 3.4 GPA so it's not like my grades were bad. Luckily, I have enough credit hours to sit for CPA exam and I'm considering doing just that. I'm planning on purchasing Becker's which is mighty expensive... $3,700 for a study guide plus additional $250 for each part of the test I believe (4 parts). I just not sure if It will bite me in the ass in the long run. Will anyone hire a CPA with "0" years of experience?

[Mesmer]

Do you want to be an accountant? If so, take it. If not, I wouldn't bother.

[Scrumtrilescent]

People who graduated with a business degree:

[Ja Rhule]

Do you want to be an accountant? If so, take it. If not, I wouldn't bother.

I want to be an internal auditor. It's my dream job.

[Mesmer]

People who graduated with a business degree:

Right now pretty much yeah. That's why I'm gonna try to go to graduate school.

[Ja Rhule]

People who graduated with a business degree:

Yea I know. Plus, UNCC is not a great business school. But I know I have talent and most professors can tell you the same. Maybe my russian accent spooks them away.

[Sameday]

I graduate with 2 degrees (Finance and Accounting) and I can't find a damn job. I've been looking for 6 months and nothing, not even a single interview. Just bunch of rejection e-mails stating the obvious... no experience. I had a 3.4 GPA so it's not like my grades were bad. Luckily, I have enough credit hours to sit for CPA exam and I'm considering doing just that. I'm planning on purchasing Becker's which is mighty expensive... $3,700 for a study guide plus additional $250 for each part of the test I believe (4 parts). I just not sure if It will bite me in the ass in the long run. Will anyone hire a CPA with "0" years of experience?

Did you try any of the public accounting firms, they usually have an internal audit group. I think if you pass your test and all you need is the work experience to have your cpa you will be in better shape.

[Jangler]

I think the IRS is hiring...

[Ja Rhule]

I think the IRS is hiring...

Hell no

[theyhateme45]

I graduate with 2 degrees (Finance and Accounting) and I can't find a damn job. I've been looking for 6 months and nothing, not even a single interview. Just bunch of rejection e-mails stating the obvious... no experience. I had a 3.4 GPA so it's not like my grades were bad. Luckily, I have enough credit hours to sit for CPA exam and I'm considering doing just that. I'm planning on purchasing Becker's which is mighty expensive... $3,700 for a study guide plus additional $250 for each part of the test I believe (4 parts). I just not sure if It will bite me in the ass in the long run. Will anyone hire a CPA with "0" years of experience?

From my experience, and other classmates I would not worry about taking it right this minute.

1) Passing parts of the exam is not going to make you any more attractive of a candidate because of your lack of work experience.

2) I would not look strictly for an internal audit position... They are few a far between. Look for an audit position than has potential to lead to a internal career track.

3) If you get hired at a medium to large size public accounting firm they will usually pay for Becker and to sit for the exam. No reason to shell out all of that $$$ when the company will pay for it.

4) If you end up working in private accounting your passing the CPA would have been a waste of $$$.

5) If you want to study to pass time and stay fresh then I would recommend Wiley CPA Exam prep... It only cost about $200 and you can self study until you have an offer.

6) Is your Resume up to par? Do you send a cover letter with each application? Not a generic Cover letter, but tailored to the company you are applying for.

I am on the job hunt right now myself. I have gotten interviews, and couple of offers but nothing I have accepted yet. I was just in Charlotte for an Interview last week. I have completed requirements for my Masters in Accounting....

Take one week and commit 60 hours to nothing but job searches. Look up the accounting firms in your area, visit their website and see what their hiring/recruiting procedures are. Apply to everything. Take the time to read about their company before submitting your cover letter.

*Also there is no such thing as a CPA with no experience. Getting your CPA is two parts, passing the exam, plus two years of continuous public accounting experience.

[pstall]

Get in somewhere. Don't over think having every single academic duck in a row. Take what you can get, be flat out grateful for what you do get then outwork everyone you are around.

While you are doing this, cozy up with the long timers and they will teach you more in a year than your school did in 4. Plus showing some respect for those guys can open doors because they have the ear of the powers that be and respect(hopefully) of those that make things move.

[MadHatter]

Yea I know. Plus, UNCC is not a great business school. But I know I have talent and most professors can tell you the same. Maybe my russian accent spooks them away.

Actually UNCC has one of the highest rated Accounting programs in the Southeast. Their pass percentage for the CPA exam is actually higher than Wake Forest or Chapel Hill.

As for taking the CPA exam, I would say a definite YES. I am a CPA and spent 5 years with KPMG and another 15 years in industry.

If you want to be in either finance or accounting, the CPA certification goes a long way in helping your career. You will consistently be competing against candidates that have this certification. If you don't have it, you will lose out 90% of the time.

Without the certification, you have a much lower ceiling in promotions and salary.

A lot of companies will not hire controllers, CFO's, VP Finance, Auditors, etc... without a CPA certification.

[MadHatter]

From my experience, and other classmates I would not worry about taking it right this minute.

1) Passing parts of the exam is not going to make you any more attractive of a candidate because of your lack of work experience.

2) I would not look strictly for an internal audit position... They are few a far between. Look for an audit position than has potential to lead to a internal career track.

3) If you get hired at a medium to large size public accounting firm they will usually pay for Becker and to sit for the exam. No reason to shell out all of that $$$ when the company will pay for it.

4) If you end up working in private accounting your passing the CPA would have been a waste of $$$.

5) If you want to study to pass time and stay fresh then I would recommend Wiley CPA Exam prep... It only cost about $200 and you can self study until you have an offer.

6) Is your Resume up to par? Do you send a cover letter with each application? Not a generic Cover letter, but tailored to the company you are applying for.

I am on the job hunt right now myself. I have gotten interviews, and couple of offers but nothing I have accepted yet. I was just in Charlotte for an Interview last week. I have completed requirements for my Masters in Accounting....

Take one week and commit 60 hours to nothing but job searches. Look up the accounting firms in your area, visit their website and see what their hiring/recruiting procedures are. Apply to everything. Take the time to read about their company before submitting your cover letter.

*Also there is no such thing as a CPA with no experience. Getting your CPA is two parts, passing the exam, plus two years of continuous public accounting experience.

You are completely wrong on your first point above. Having passed at least part of the exam would be a big positive in this market. It shows not only a proficiency for the material, but a drive and self motiviation that employers want to see. CPA firms do not expect new graduates to have passed the exam. However, if you have been out for 6 - 12 months then taking this initiative would be a definite positive.

You are also completely wrong on point 4. A CPA certification is a BIG deal in private accounting. You will be competing against people who have it. If you don't, you will lose out 90% of the time. As I said in another post, many companies have policies that CPA certifications are required for certain positions....including controllers, accounting managers, finance managers, CFO's, VP Finance, or auditors.

Purchase the Wiley's CPA Review program and self study using the Computer Based Training.

Most of all, keep your spirits up and stay diligent in CPS prep and your job search.

One thing you may want to consider is Graduate School. This is a tough market for new undergraduates. With the high unemployment, you are competing against experienced and seasoned professionals for any position that you will be applying for . That puts you at a disadvantage. I know many people who have gotten student loans and gone back for a Masters of Accountancy or MBA degree. That way, you are better positioned when the market rebounds.

I am sure you mean well in your comments, but you are a recent graduate with absolutely no experience in the finance market place. Your comments and recommendations are little off the mark.

I am a finance/accounting professional with 20 years experience. I have hired hundreds of accounting/finance professionals in my career...and know what is valuable on your resume.

If you were out of school for 6-12 months and interviewing with me for an accounting position 9especially auditor), one of the first questions I would ask is about the CPA exam. If you had not taken the initiative to improve your marketability and skillset by at least preparing for the exam, I would see that as a big negative. Again, it shows that you are not willing to sacrifice to achieve your goals....and I may equate that to not being dedicated.

[PanthersFanNY]

Hell no

Why not?

Auditors have a great work/life balance and are paid well. We just hired 2 new agents in my office.

Plus, the IRS was the 47th best place to launch a career according to business week.