<p>no no. Thats not it. Binomial expanision uses combination. lets say you have (x+5)^5… you expand it till you get to the 4th power like 5C4. Anyone have answers to my questions?</p>
<p>i saw a survey that reported $50,000 as starting salaries for accounting grads in southern california. is this realistic? i have no accounting exp, but 4 years of sales experience. By the time i grad, i shud have at least 1 yr of acct exp.</p>
<p><a href=“http://campusapps2.fullerton.edu/career/pdf/WHTGSurvey2006.pdf[/url]”>http://campusapps2.fullerton.edu/career/pdf/WHTGSurvey2006.pdf</a></p>
<p>pdf doc. csuf 2006.</p>
<p>hassib, 50K is very typical for big-4 but not for ALL accounting job. I just posted again in the thread of “should I double major in accounting” the link of career survey for CalPoly SLO, it breaks down to each graduate’s job title and salary, check it out.</p>
<p>I was going back through the threads and noticed one post by Nihsnek that contains many questions that are very similar to my own:</p>
<p>"If I do an Accounting/(Finance, Economics, Information Systems, Business Law, whatever), what kind of work would typically I be doing(I understand describing specifics due to a broad range of companies, etc. makes this very difficult). I understand you do not “make partner” right out of college either, it takes several several years of hard work. But how many years would require the tedious secretary cubical crappy work?</p>
<p>I’m not necessarily stating I don’t want to work my way up, but how many years would I have to “sacrifice” to finally make some decent bucks later in life. I don’t want to be 45+ and finally earning a respectable income. Hell, might as well do Pre-Med and make cash in late 20’s.</p>
<p>2) Investment banking seems like a very interesting and fun(not the typical daily grind) occupation. Good competition = Hard Work = Good rewards. I like.</p>
<p>But honestly, what is it? Is a degree in Accounting even the <em>best</em> way to approach becoming an Investment Banker?</p>
<p>3) Lastly, a “degree to likes” question. I like the inner workings of economies, how to plan and make wise investments for huge companies, how several unique factors help control finances, and how the world market works together as one. Merging and business law seems interesting as well. I am very analytical and precise. I do not like being stuck at a desk with several layers of managers and bosses telling me what to do all day. Making responsible decisions is something I am prepared to do…well."</p>
<p>So does anyone have an answer for these questions? Thanks.</p>
<p>gr21, taxguy posted a public accounting survey before which i think can indirectly answer question #1. Supervisor 5 yrs, partner 12 yrs.
<a href=“http://talk.collegeconfidential.com/business-major/697164-salary-survey-accoutants.html[/url]”>http://talk.collegeconfidential.com/business-major/697164-salary-survey-accoutants.html</a></p>
<p>Gr21, you said this “Is a degree in Accounting even the <em>best</em> way to approach becoming an Investment Banker?”</p>
<p>First of all, I didn’t even know Accounting could get anyone into Investment Banking.
Second, I am 100% sure it’s definitely not the best way to becoming an IBanker</p>
<p>The best way, of course, is to get into a top school (Ivy League, etc.)</p>
<p>Let me be very clear about something. Yes, accounting is one of the better paying careers out of college. Yes, it is respected. Yes, it is one of the best careers for getting a job.</p>
<p>HOWEVER, you have to like it and be good at it if you want to keep that job. This means:</p>
<ol>
<li>You have the ability to pay attention to detail for long periods of time</li>
<li>You have a very strong work ethic. This means that you can work 8-9 hours a day on projects, having only a few breaks.</li>
<li>You have strong analytical, problem solving ability.</li>
<li>You have common sense</li>
<li>You have a reasonable degree of people skills</li>
<li>You are a decent writer.You don’t need to be Hemmingway or even have the skills of an English major, but you do need to write clear reports.</li>
<li>In college, learning disablied kids can get through with accomodations. They might get extra time for work, tutors, note takers etc. Don’t expect any accounting firms to make accomodations for you in this regard. You will be expected to work hard, quickly and correctly. No excuses will be accepted.</li>
</ol>
<p>Accounting does take a special kind of person to succeed. If the subject matter or work isn’t for you, don’t go into it!</p>
<p>With respect, gr:</p>
<p>I think that you need an attitude adjustment. You seem to believe that there are fascinating jobs out there that are going to allow a significant number of people to earn six figures by their late twenties. Well, let me clue you in. Doctors NEVER made that kind of money by their “late 20s” and investment banking is for all intents and purposes dead for entry level people. Given the current state and likely prospects for the economy, you’ll be doing well if you can figure out a way to make a solid living (read 50k in current dollars) by the age of 30, even if it involves a large amount of “tedious secretary cubical crappy work.” That’s why they call it work. (As someone told me long ago, most jobs are 99% crap and you’ll be doing well if you find one that’s only 95% crap).</p>
<p>Now, you might do better, both in terms of salary and interesting work. But you need to consider that a bonus, not the norm.</p>
<p>Thanks everyone for answering my questions, but I just want to clarify on the point that the post was not mine, I just meant that I had questions that are similar to the quote by user Nihsnek that I copied from.</p>
<p>My questions were basically what the job was like and whether investment banking is a possible route from an accounting degree. I do not support the attitude that the original poster may have given off, so sorry if that is the wrong impression that I gave off.</p>
<p>When kids get out into the real world, you’ll see there is more than just making $$$. That being said I’ve almost been at Deloitte Audit for a year now, still joying 90% of it. Not the best paying job but the culture and exposure to clients is fun.</p>
<p>Hey taxguy,</p>
<p>I was wondering, if you know for sure that you want to go into the private sector at some point how much worse off would you be starting in the private industry vs the Big 4 public firms? I keep hearing that it’s almost necessary to start off at the Big 4 in order to have a good career, so how bad off would you be if you start private?</p>
<p>It is easier to get into some places if you have a background in public accounting – very few places care if it was at a big 4 company. It won’t significantly hurt your career if you don’t work in public accounting at all, but a couple of years in it is a boost.</p>
<p>Now that you mention other public firms, I might as well ask my other question. If you don’t work at the Big 4, but rather at another respected firm like BDO, or Grant Thornton, are your prospects really that bad?</p>
<p>creamgetthamoney, you do NOT have to start off at a big firm. Certainly, it might be preferable to get that type of experience, especially for auditing. However, it isn’t required for a good career.</p>
<p>Does anyone know anything about CMA or management accounting? What is a management accountant daily work style like? </p>
<p>Ive read a lot about financial accounting, how is management accounting? also is management accounting in high demand like financial accounting?</p>
<p>redline you have no idea what you are talking about.</p>
<p>CMA’s seem to work as a controller at a small-midsize manufacturing company. Think supply chain management.</p>
<p>Taxguy, I have a few questions if you don’t mind.</p>
<p>1) What type of work does an accountant at a Big 4 do, specifically. I hear traveling is involved quite a bit, is this flying to other cities or driving around your local city to different companies? And is your general workload always changing as in you finish auditing X company and then move on to Y without looking back or do you constantly rotate back. Seems that it would get old having to start at square 1 with a new client everyday.</p>
<p>2) Is the TV a lie? What i mean is, I’ve seen accountants in Movies and on TV shows, but they seem different than what I’ve been reading. For lack of a better term, they seem like staff accountants. Are there positions where you work as an accountant for just one company and update their books day in and day out? Someone has to crunch the numbers before a big 4 comes in and audits those numbers right? That appeals to me more, working for one place with the same books everyday.</p>
<p>I’m sure I’ll ask more later. Thanks in advance.</p>
<p>Jdnely, I really can’t answer your question since I spent my whole time in the tax department at a big firm many years ago. Iin tax, there was very little traveling, and we did a variety of tax work.</p>
<p>jdnely, it’s actually awesome going to a new client and learning the ins and outs of the new client and industry. Helps you develop some good skills. As far as starting from square 1, your responsibilities change depending on your level and year. Some of the responsibilities overlap but typically are different. In terms of travel, you won’t be too far out of state too much. You might fly around if the main client you are assigned on has multiple locations, but its not the most common thing.</p>
<p>What you are describing in the 2nd paragraph is industry accounting, it’s boring as hell. Do not get into that, it’s for people that are content with their careers (Have family or whatever, or just gave up and because they couldn’t get any further).</p>