<p>I have an accounting degree, an MBA (passed most of the CPA exam, got pregnant, stayed home and by the time I went back to work, realized unless you work in public accounting, an MBA is just as highly regardless in most industries and would allow me more job flexibility). I worked for a big 8 firm for a time before going into private industry. My husband, a CPA, worked for several big eight firms before going out on his own 15 years ago. My sister and father also worked for national accounting firms at various points in their careers).</p>
<p>In large public accounting firms, the only route is usually up or out. These firms recruit heavily from colleges (although that is not the only way in but it’s the most common for entry level). They pretty much have to recruit new students each year - it’s part of the the image of these firms (especially the big 4). As such, they are constantly having to make room for the next batch of new recruits. Because their business is based on the number of clients they have, they cannot be profitable if they are adding new staff each year so they have to ‘counsel’ people out of the firm at every level pretty much every year. These are generally people who are not seen as ‘partner material’. Some people make it all the way to senior manager or associate before they are shown the door. Some people at this level will hang around for a long while if the firm needs experienced people but in general, if they don’t believe you will make partner, you’re out. As Artsloverplus stated, being a partner means you 1) bring in new business and 2) keep current clients happy. It is, in essence, a ‘sales’ job.</p>
<p>You will see less of this in regional firms and even less in local firms but generally the salaries are lower and the training programs are less structured. The training you receive in a national firm is incredible but you will be expected to work 60 plus hours a week for a large part of the year. This part of the reason turnover is so high in these firms. People are either fired or they quit because it is a pretty demanding job. Another thing to think about is people in large accounting firms (unless they are doing tax) tend to travel a lot. I would think in a specialty area like risk advisory there would be even more travel involved than usual.</p>
<p>You might be able to get into a large public accounting firm. Your best bets are to have a 4.0 GPA in your accounting courses and to really hit it off with one of the people who is doing the recruiting. My experience was that they value people with a work background (because you’re not some recent college grad with no experience). I worked full-time for several years before completing college and that really worked to my advantage when it came time to find a job. On the other hand, you will be reporting to people in their 20s and 30s and that almost always works against you when it comes to landing a job. The big question in their mind is will you be resentful of having a boss 20 years younger than you and will you feel like you already know it all. </p>
<p>The other thing to consider is entry-level accounting work (either in public or private) is very, very tedious work. You are basically ticking and tying vast quantity of numbers all day long. There is generally no way to escape this if your state licensing board requires you to have a certain amount of auditing experience in order to be a CPA. </p>
<p>My husband has older people who recently got their CPA licenses applying for his entry level jobs all the time. Public accounting is extremely competitive. The big firms have the pick of anyone they want so it can be very hard to get a foot in the door. </p>
<p>BTW-with my MBA, working in health care, I make twice as much as what my husband pays his CPAs. You might want to contact the career center at the college you re thinking about attending and ask them some of your questions. They should have a good feel for the current job market, how older students make out in the recruitment process and what firms in your area offer risk advisory services. Good luck.</p>