I just transferred into the accounting major at the start of this semester. I’ve been considering a few different career options and I’m having a hard time making the choice that’s right for me.
Some facts about me:
I’m a sophomore ACIS major with a concentration in Audit
I’m expected to graduate in Spring 2018 with 129 credits. Although it might be possible for me to graduate a semester early.
My overall GPA is 3.49 – in major unsure
While I’m open to getting my CPA, it isn’t my first choice (in fact, it’s my last). So, I’ve been looking into other certifications namely: CIA and CFE. I’ve read the articles and done the research on how getting your CPA is crucial in advancing in your career as an accountant.
I guess my question is, if I decide to forgo the CPA route what does that do for my future job opportunities? Does this make me a less competitive candidate to employers even though I’m seeking two other certifications? What sort of career path(s) does that leave me?
In terms of where I see myself in the future, forensic accounting is what I’m interested in so maybe working for the government. Being an internal auditor is cool too, as long as I’m making more than $55K a year I can live comfortably. However, $70K around the time I’m 30 sounds nice too.
I greatly appreciate any advice and/or insight on the matter.
I am a CPA as is my S. IMO the two certifications you noted do not hold a candle to having a CPA in terms of public recognition and career advancement. You can have a career as an accountant without a CPA and do just fine, but recognize that you will likely be competing against CPAs for at least some promotions, and some jobs in the future and not having that certification could put you at a disadvantage on occasion.
I’m a long time CPA and I also have a number of other silly letters after my name, CFP and some other similar stuff that nobody really cares about.
My $.02 - CIA, CFE, CMA, etc., are all much more valuable when held in addition to your CPA. You need to understand that part of the value of the CPA is what it enables you to do (sign tax returns, sign financial statements, represent clients before the IRS, etc.). The value is there, whether or not you actually do any of those things.
Most other letters are what I call “imaginary designations.” That’s NOT to say they’re not difficult to earn and/or valuable to employers, but they show a level of subject matter knowledge rather than enabling to holder to “do something.”
Anyway, I think it behooves all accounting grads to do their best to earn the CPA license. I’ve never met anyone who was sorry they did.
I read in an article that there are somewhere around 600-700K accountants that do have their CPA. But there has also been an increase in the number of accounting graduates that don’t go on to obtain there CPA. I guess a better question would be, for the ones that don’t get there CPA what sort of career do they have?
My father is a CPA, and he is an Internal Auditor. He has a great job. He advises the CEO and CFO, makes six figures, and it’s pretty much 40 hours a week. He told me once that if I ever choose Accounting as my major to get my CPA. It adds $20,000 to your salary, and while he is a CIA and a CISA, the CPA is more sought after and gives you a broader choice of jobs to choose from. He says a CPA is never unemployed. So go for it, you won’t regret it.