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Old 02-28-2007, 03:02 PM
alphatmw alphatmw is offline
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Default Accounting Firms

i was hoping some people here could shed some light on working in accounting for me.

im still in college, the decision is basically big 4 vs. midcap firm vs. industry. i've heard that getting 2-3 years experience in a big 4 firm will help you jump up in ranks regardless where you go from then on, and most people i've heard take the big 4 for 2 years, then go into industry road.

we have started recruiting with the big 4 yet, but i've found one midcap firm i really like (BDO Seidman). but i don't know how big there is a difference between starting off at a big 4 vs. starting off at a smaller one. i'm almost looking for an exuse not to start off at a big 4, because everyone has seemed to imply that money+promotion is much better with one of them.

however, i hate to choose a job over money alone, but a part of me is afraid of giving the oppourtunity up at the same time.

does anyone here work at a big 4 firm? has anyone worked for a big 4 and another firm as well? could you comment on the differences in salary, work-life, enjoyability at work, and whatever else you think is relevant?
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  #2  
Old 02-28-2007, 04:48 PM
4_2_it 4_2_it is offline
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Default Re: Accounting Firms

Which BDO office? If NYC or other other large city, then I would say it's fine. BDO is a well respected large firm which will look fine on a resume years later. That said it isn't Big 4.

What are your career goals? If you just want to use Public Accounting to find a job in industry then BDO should be fine. If you want to be a higher up in a Fortune 500 Company there Big 4 will give you a leg up there.

Having said all that, if BDO is where you want to work, then go work there. You will be working long hours so at least pick somewhere that fits for you.

Full Disclosure: I worked over 8 years in Public and currently work at a Fortune 500 company. PM me if you have any specific questions you do not want to post here.
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  #3  
Old 02-28-2007, 05:53 PM
alphatmw alphatmw is offline
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Default Re: Accounting Firms

thanks for the response.

i really don't know what my career aspirations are, as i don't have experience working in the industry or within public accounting so its hard for me to predict what i'll enjoy.

BDO would likely be in houston, not ny.

i think it would help me if you could answer some of these question:
1. why did you leave public accounting after 8 years?
2. what are the differences in the kind of work you do now?
3. which job did you enjoy more?
4. how do the salaries compare?
5. from the other people in accounting you know, how many of them stayed in public accounting, how many of them moved around firms in public accounting, and how many went to industry?

thanks.
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  #4  
Old 02-28-2007, 06:18 PM
4_2_it 4_2_it is offline
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Default Re: Accounting Firms

[ QUOTE ]
1. why did you leave public accounting after 8 years?

[/ QUOTE ]

I left in 2001. I had no desire to make partner and once you realize that, then it's time to leave.

[ QUOTE ]
2. what are the differences in the kind of work you do now?

[/ QUOTE ]

I was an audit manager when I left Public. I worked on a variety of engagements and met a lot of smart and interesting people.

Outside of Public I have been a Director of Inventory Accounting for a large chain, controller for a NASDAQ listed company and my current job, which is a VP responsible for SOX compliance.

The differences are many to list. Perhaps the biggest difference is that I feel more part of a team since my work directly contributes to the success of my company. In auditing, most companies view you as a necessary evil. I was treated well (most of the time), but if the company did well, it's not like they gave their auditors a bonus.

I will say that I learned more in Public then I did anywhere else. The training and exposure is second to none. I also made a ton of business contacts that proved invaluable when I was looking to get out.

Regarding Houston. As long as BDO has a few big SEC clients and at least 50 professionals in the office, you should be fine.

[ QUOTE ]
3. which job did you enjoy more?

[/ QUOTE ]

Tricky question. As a young guy, I would not have been happy anywhere but Public. I needed the constant challenge and sometimes stressful environment. As long as you have a strong work ethic, then you will thrive in Public.

Today, you couldn't pay me enough to go back. I enjoy my current job. I have carved out my own niche in a great company and I get to spend time with my family.


[ QUOTE ]
4. how do the salaries compare?


[/ QUOTE ]

From graduation to about 5 years out, Public will be higher. They are close to even after probably 8-10 years. A lot of top flight CFOs and Controllers make more than most Big 4 partners.
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  #5  
Old 02-28-2007, 08:14 PM
MyTurn2Raise MyTurn2Raise is offline
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Default Re: Accounting Firms

If you want to work in industry, you should take a look at client lists and see which match where you want to go

many midcaps will specialize in a certain field in certain markets. If you don't like that field, don't go there.
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  #6  
Old 02-28-2007, 08:15 PM
MyTurn2Raise MyTurn2Raise is offline
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Default Re: Accounting Firms

sidebar:
you think the government will cut back on SOX regulations in the near future?
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  #7  
Old 02-28-2007, 09:09 PM
4_2_it 4_2_it is offline
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Default Re: Accounting Firms

[ QUOTE ]
sidebar:
you think the government will cut back on SOX regulations in the near future?

[/ QUOTE ]

They have already made things easier for big companies and have delayed the requirement for SB filers two or three times already. So, while it is still a lot of work to do, it is becoming manageable.

I doubt we will see any meaningful legislation that waters down a significant part of SOX. My guess is that maybe there will be a tweak or two at some point, but as long as there aren't any major corporate scandals, I do not see regulations getting any tighter.
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  #8  
Old 02-28-2007, 09:26 PM
alphatmw alphatmw is offline
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Default Re: Accounting Firms

thanks 42it, i appreciate this. you gave me a lot of good information and if anything, made my decision harder. lol.

i'm sure once i start actively recruiting with the big 4, i'll become more attracted to them and probably be more comfortable with deciding to start there.
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  #9  
Old 02-28-2007, 11:34 PM
4_2_it 4_2_it is offline
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Default Re: Accounting Firms

[ QUOTE ]
thanks 42it, i appreciate this. you gave me a lot of good information and if anything, made my decision harder. lol.

i'm sure once i start actively recruiting with the big 4, i'll become more attracted to them and probably be more comfortable with deciding to start there.

[/ QUOTE ]

What exactly did you like about BDO? The people, the office, the client base, the culture? IMO, it's the people and the client which are the most important.

Plenty of people start out in Big 4 and after 2 years head to places like BDO.

Honestly if your choice is between say KPMG and BDO you really aren't going to be a 'big' mistake if you pick the 'wrong' one [img]/images/graemlins/smile.gif[/img]
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  #10  
Old 03-01-2007, 03:57 AM
alphatmw alphatmw is offline
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Default Re: Accounting Firms

[ QUOTE ]
[ QUOTE ]
thanks 42it, i appreciate this. you gave me a lot of good information and if anything, made my decision harder. lol.

i'm sure once i start actively recruiting with the big 4, i'll become more attracted to them and probably be more comfortable with deciding to start there.

[/ QUOTE ]

What exactly did you like about BDO? The people, the office, the client base, the culture? IMO, it's the people and the client which are the most important.

Plenty of people start out in Big 4 and after 2 years head to places like BDO.

Honestly if your choice is between say KPMG and BDO you really aren't going to be a 'big' mistake if you pick the 'wrong' one [img]/images/graemlins/smile.gif[/img]

[/ QUOTE ]BDO really stressed the company culture and its emphasis on people and clients, and they seemed the most sincere of the midcap firms i've interacted with. they also seem the most laid back and friendly. also, theyre the 5th largest accounting firm in the US.

honestly, they were the only midcap firm that stood out to me. grant thorton also stood out.. they seemed most professional and competitive, but also seemed too cutthroat and uptight for my tastes.
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