<p>no, it's not</p>
<p>yes because people "enjoy" accounting...</p>
<p>you don't even need the CPA to get a job at the Big 4, you can take it while there, so I don't see the point there either...</p>
<p>"yes because people "enjoy" accounting..."</p>
<p>Yes, some people do.</p>
<p>"you don't even need the CPA to get a job at the Big 4, you can take it while there, so I don't see the point there either..."</p>
<p>No one said you needed to be licensed--I said that you need to meet (or have a plan to meet) the educational requirements. I'm not sure what your point is.</p>
<p>but to take the CPA exam, you have to have fulfilled certain requirements like 150 credit hours and a certain number of accounting classes need to be taken. so no, you can't just become an accountant on a whim.</p>
<p>my point is its not very hard to get the other 22 credits at a community college.</p>
<p>CC's do not offer the upper level classes needed for the CPA. They are graduate level classes.</p>
<p>actually some college do. Example fullerton college (a jc even thought community college is not in its name)</p>
<p>They offer the full intermediate accounting sequence, auditing, etc. But these classes are offered in on per semester, in fall and spring only, in sequence, etc, making it VERY difficult to get the class.</p>
<p>
[quote]
a layed off ibanker can become an accountant pretty easily if layed off, but they generally just MBA it up when out of a job, and go into bigger and better things in finance
[/quote]
</p>
<p>Who is this guy “mattistotle”? Are you really that ignorant? I personally have worked with a former i-banker (and graduate of Princeton) who had to start at the bottom in the finance dept of my former company. Why? He didn’t understand enough about accounting while the accountants/financial analysts in the department with sound accounting backgrounds had much higher positions than he did. </p>
<p>Sure, i-banking is more prestigious, no doubt about that. But to make a connection to that and the supposed versatility which you’ve pointed out is just plain ridiculous. Plus, what hasn’t been pointed out yet is that accountants have to pass a difficult exam to become a CPA, which I might add is a certification that is far more versatile than you even realize.</p>
<p>I don't know how someone could've gotten into ibanking without having decent accounting background (you get grilled on income statements,balance sheets, cash flows during interviews), he must've been really lucky, or not been at a good bank, so I don't know if that guy is a good example.</p>
<p>For all the people who are calling me "arrogant" I currently don't even plan on going into I-banking, I'm merely stating how the job market is (perhaps I used too inflammatory of statements)...but if you guys seriously think a CPA provides more versatility than a stint at a Bulge Bracket I-bank, you guys are seriously deluded...</p>
<p>humorously, this new thread pops up on ibankingoasis right after i make this post</p>
<p><a href="http://www.ibankingoasis.com/node/6857%5B/url%5D">http://www.ibankingoasis.com/node/6857</a></p>
<p>Maybe I’m a bit na</p>
<p>When you are using sarcasm in your rhetoric, you generally have to make sure the comments you are mocking aren't correct....</p>
<p>I actually believe your story though, the person who worked at MS must've been a complete moron to go from ibanking to accounting, when a half way decent banker could've gotten a higher paying/ less hour job after a stint. I also believe the fact he didn't have basic accounting knowledge for the aforementioned reason. </p>
<p>I really don't want to get into a flame war about, but I've yet to hear a legit reason against my argument, and ibankingoasis (a site in which most of the bankers hate their job) link i provided pretty much supports my argument from people actually in the professions. (they even claim boutique banks are "leaps and bounds" better, and I don't think I've ever heard a decent thing about boutiques at entry level)</p>
<p>"a site in which most of the bankers hate their job"</p>
<p>Yeah, I think it because most of the ibankingoasis people are IBD. S&T is where the party is.</p>
<p>S&T do work less hours, but they have too much stress during those hours I think (I heard some don't even pee during trading hours) ..but I actually haven't met that many traders so I don't know much about it specifically.....I kinda wish more people discussed it and other finance jobs.</p>
<p>If you want to learn more about S&T read Liar's Poker. Although I'm not sure if the atmosphere described in the book is still the same today, but it definitely is an experience. I am not sure I could withstand such verbal murder.</p>
<p>Both are super boring, so I would choose IBanking because it makes more money.</p>
<p>I dunno, I think I would prefer the more intense environment. As for money, my next door neighbor is a trader at UBS and he is baller. His land is like a 5-house compound. Best traders make more than anyone else at the investment banks -- including the CEOs. Makes sense, considering S&T is where investment banks make 80% of their money.</p>
<p>Seems like the main problem with trading, for those who can handle the stress, is the lack of exit opps to buy-side stuff like PE. But yeah, I would also like to hear more about S&T on this forum. I'm really interested in the field and any insight would be awesome.</p>
<p>exit ops aren't that bad; traders have any easier time getting into hedge funds I've heard</p>
<p>I'm actually on the last chapter of liars poker haha.</p>
<p>Yeah, I have heard mixed things on stuff like ibankingoasis about IBD vs. S&T for exit opps to HF. Either way, seems like S&T does open that door.</p>
<p>
[quote]
I actually believe your story though, the person who worked at MS must've been a complete moron to go from ibanking to accounting, when a half way decent banker could've gotten a higher paying/ less hour job after a stint. I also believe the fact he didn't have basic accounting knowledge for the aforementioned reason.
[/quote]
</p>
<p>mattistotle, </p>
<p>A moron? Half way decent banker? This guy graduated fr. Princenton and worked at Wall Street for over 5 years so I'd ease up on the moron and half way decent crap if I were you. Who are you to make these kinds of assessments? What are your credentials??</p>
<p>And do you understand the concept of a career change? I don't think you have enough depth as a person to do so and you obviously have issues....</p>