A partner recently told me that she thinks a certain individual is on the partner-track, and somebody who she would mention to leadership amongst a few others. I was flabbergasted by this, because I worked with this individual for many years, and would not ever pick him voluntarily again, or hire someone like him if i start a new business. But why did this person have such a good reputation?
Because he was very good at manipulating perception...
There are many individuals who possess this trait. They spend a lot of their time chatting with others instead of working, and taking work from other engagements and calling it their own. They hear other people bring up issues on their engagements, and decide to bring it up to the partners without doing the research themselves.
Look, I have to problem with making sure you look good. To succeed, you sometimes have to do it. I just don't like it when you can't back it up with actual work, but convince others that you do.
Friday, 31 August 2012
Tuesday, 14 August 2012
submitting resumes
I'm an Accounting major going into my senior year. I was wondering if you could touch on resumes, when to submit them, and interviewing. How early is too early for submitting a resume for entry level? I've heard some firms look for them the beginning of your senior year and for others that's too early. Any insight would be great.
Sophomore year - Submit your resumes for the Firms' special programs geared for Sophomores. These programs range from 1 day to 2 weeks depending on the Firm. If you get in here, it gives you an automatic interview for an internship.
Junior year - Submit your resume for a summer/winter internship during your junior year. This is key. You should do this if you have every intention of trying to get into public accounting. Interns are almost guaranteed job offers unless they do something stupid during their internships.
Senior year - If you didn't get an internship, it's not too late. Try again, the Firms still have slots for non-interns.
MBA part two
Going to tackle some questions that related to my previous post -
What are the chances of a CPA finding work in the financial sector without an MBA? And is the learning curve manageable, going from accounting to investments?
It's really hard to do so unless you have contacts in the investment world. You can always become a controller at one of the hedge funds or investment bank and then use your political skills to get into the investments side.
It is very rare to see someone go from public accounting to an investments type job without an MBA.
Don't worry about the learning curve. Heck, the ibanks love hiring from liberal arts colleges - most of these students have taken nothing in finance - just a few economics courses here and there.
If you really want to go into banking, get out - NOW!
Do auditors place well as far as top MBA schools go? Life/Work experience is THE most important factor in MBA admissions. You see banking/consulting people place at top institutions all the time. What about auditors?
I've seen auditors get into top schools, absolutely. You actually separate yourself from the bankers and the consultants since they comprise the majority of applications to these top schools. A big 4 name is nothing to sneer at. While we may not work the insane hours that bankers do, we get enough client experience and technical experience to conjure up a solid application to the top schools.
Are partners and senior managers willing to write a letter of recommendation, knowing that your intention is to leave and go to b-school?
Absolutely, but this is subjective. It really depends on your relationships with the partners and senior managers. While I'm sure they don't you to go, they'll certainly understand.
What are the chances of a CPA finding work in the financial sector without an MBA? And is the learning curve manageable, going from accounting to investments?
It's really hard to do so unless you have contacts in the investment world. You can always become a controller at one of the hedge funds or investment bank and then use your political skills to get into the investments side.
It is very rare to see someone go from public accounting to an investments type job without an MBA.
Don't worry about the learning curve. Heck, the ibanks love hiring from liberal arts colleges - most of these students have taken nothing in finance - just a few economics courses here and there.
If you really want to go into banking, get out - NOW!
Do auditors place well as far as top MBA schools go? Life/Work experience is THE most important factor in MBA admissions. You see banking/consulting people place at top institutions all the time. What about auditors?
I've seen auditors get into top schools, absolutely. You actually separate yourself from the bankers and the consultants since they comprise the majority of applications to these top schools. A big 4 name is nothing to sneer at. While we may not work the insane hours that bankers do, we get enough client experience and technical experience to conjure up a solid application to the top schools.
Are partners and senior managers willing to write a letter of recommendation, knowing that your intention is to leave and go to b-school?
Absolutely, but this is subjective. It really depends on your relationships with the partners and senior managers. While I'm sure they don't you to go, they'll certainly understand.
Sunday, 15 July 2012
MBA
What's your take on an MBA after a couple years of audit experience? How often do your peers or auditors you know move their career forward into business school?
An MBA is a great idea if you don't want to be in the accounting world - if you'd rather be in finance, consulting, banking, etc. etc. People who've left the big 4 to do an MBA do it because they're sick of auditing and because they want to be doing one of the above. It's pretty uncommon in the auditing world for people to go do an MBA, just because it means you're not cut out for the accounting life. Most new auditors at the big 4 are kids who were accounting majors in college and only expect to stay in the accounting world. If you do, there's no point doing an MBA. 5 years at a big 4 firm will get you to a controller position, something that an MBA usually wouldn't.
An MBA is a great idea if you don't want to be in the accounting world - if you'd rather be in finance, consulting, banking, etc. etc. People who've left the big 4 to do an MBA do it because they're sick of auditing and because they want to be doing one of the above. It's pretty uncommon in the auditing world for people to go do an MBA, just because it means you're not cut out for the accounting life. Most new auditors at the big 4 are kids who were accounting majors in college and only expect to stay in the accounting world. If you do, there's no point doing an MBA. 5 years at a big 4 firm will get you to a controller position, something that an MBA usually wouldn't.
interview location
Been almost 4 months since I posted, sorry for the delay, the last thing I want to do when I get home is fire up my computer....
I will be heading into recruiting season in the fall and am hoping to land a job in the Big 4. I attend school in a different part of the country than where I am from because I am currently in the Air Force and attend school in the city where I am stationed. I will be ending my military tour with degree in hand (hopefully a job in hand as well), but, how do I go about landing a job back home, or in any other location for that matter? I do not want to live where I am but it seems that the recruiters will be trying to find candidates to work in the area, and not go out of their way to help someone land a job on the other side of the country. Should I try to interview where I want to work? How would I get in contact with those recruiters as the whole process seems to happen through the University? Is it possible to go through the recruiting/interviewing process in more than one city?
Recruiters are wary of hiring people for their offices if there is more than a 25% chance that they will eventually leave the city. Recruiting is a big investment and so they'd want to invest in those individuals that they think will stay in a specific office long term. The interview applications usually do allow you to pick your top three cities in order of preference, and you can focus on one city while interviewing in another city. They'd usually want you to fly to the city you want to work in to see if you'd be a good fit in that office, since every office culture can be different. So go through your university career site but make it abundantly clear on the application that you wish to work in specific cities that you pick out, and also be willing to explain why.
I will be heading into recruiting season in the fall and am hoping to land a job in the Big 4. I attend school in a different part of the country than where I am from because I am currently in the Air Force and attend school in the city where I am stationed. I will be ending my military tour with degree in hand (hopefully a job in hand as well), but, how do I go about landing a job back home, or in any other location for that matter? I do not want to live where I am but it seems that the recruiters will be trying to find candidates to work in the area, and not go out of their way to help someone land a job on the other side of the country. Should I try to interview where I want to work? How would I get in contact with those recruiters as the whole process seems to happen through the University? Is it possible to go through the recruiting/interviewing process in more than one city?
Recruiters are wary of hiring people for their offices if there is more than a 25% chance that they will eventually leave the city. Recruiting is a big investment and so they'd want to invest in those individuals that they think will stay in a specific office long term. The interview applications usually do allow you to pick your top three cities in order of preference, and you can focus on one city while interviewing in another city. They'd usually want you to fly to the city you want to work in to see if you'd be a good fit in that office, since every office culture can be different. So go through your university career site but make it abundantly clear on the application that you wish to work in specific cities that you pick out, and also be willing to explain why.
Sunday, 1 April 2012
CPA deadline
Onto the February 2012 questions (only answering questions that I can shed some insight on, or have not already answered before...)
What happens if you do not attain a CPA within 2-3 years?
The pressure starts to build. Your final ratings for the year can potentially get knocked down if you don't have your CPA, i.e. when two individuals are rated the same, but one has to be rated higher, the one with the CPA gets the nod. Also, and more importantly, the longer you stay at the Firm, the harder it is to find time to study. It starts to weigh on you, and you will always have it in the back of your mind. For some of the Firms, you can't be promoted to manager if you don't have your CPA. If it's a good economy, you will be a "super" senior since your promotion isn't official even though you've put in the time, if it's a bad economy, like it was in 2009, you could get laid off.
What happens if you do not attain a CPA within 2-3 years?
The pressure starts to build. Your final ratings for the year can potentially get knocked down if you don't have your CPA, i.e. when two individuals are rated the same, but one has to be rated higher, the one with the CPA gets the nod. Also, and more importantly, the longer you stay at the Firm, the harder it is to find time to study. It starts to weigh on you, and you will always have it in the back of your mind. For some of the Firms, you can't be promoted to manager if you don't have your CPA. If it's a good economy, you will be a "super" senior since your promotion isn't official even though you've put in the time, if it's a bad economy, like it was in 2009, you could get laid off.
Saturday, 31 March 2012
client discussions
Sorry for the infrequent posting, when I do end up getting downtime, I try and stay away from computers. Still backed up on questions - on to the December 2011 questions...
When you encounter errors during your testing, how do you address it to the client in a nonconfrontational manner? As gentle as I try to be, as non threatening and polite as I try to phrase any questions, it's still always a difficult topic to breach with clients and some people get defensive(yelling, being generally dismissive, or sometimes shutting down conversation completely!). Since this is anonymous I don't feel the need to be modest...I can't help thinking that part of this problem is I happen to be pretty cute and the menfolk don't like looking incompetent in front of the hot auditor lady. It's hard because sometimes I find myself playing dumb and speaking in a lower tone as to not come off aggressive or condescending in any matter and still be able to get the information I need, but honestly, I die a little inside every time I do this, and I'm a little sick of placating people's egos. Any advice? And how do your hot lady coworkers handle this sort of thing?
How does one tell the client that they messed up? Do not act like you found something huge and do not take pride it in front of them. Understand that we are independent but at the end of the day we are in the client service business. I've dealt with all sorts of client personalities, and it gets really hard. Be very nice to them and say something on the lines of - 'I think this is off', or "I may be wrong, but there might be a mistake here." If they get defensive and say there's nothing wrong, ask if they can explain their thought process behind the issue, and correct them where necessary. Avoid doing this through emails, tones sometimes never come off the way you want it to be conveyed. If they keep getting defensive and you're not getting through (trust me, I've been there), just go up to your superiors and tell them the issue at hand, so they can talk to the client. It's good practice doing it yourself. I've had clients who I've had really good discussions with, so we can walk through the guidance and I can point out where they're wrong, and I've had clients who know they are wrong but just get defensive and say they are not going to change it. It gets really frustrating, but it's part of the client service game, as much as we want to yell at them, we can't. At the same time, be assertive in your answers, and be confident, so they understand you know what you're talking about.It's a fine line.
As far as the second part of the question goes, 70% of me thinks this question is in jest, but let me humor you. Attractive coworkers have what's called the halo effect going for them. The Halo effect, according to Wikipedia (yes, yes, not a true source, but whatever, this isn't a paper), is "a cognitive bias that involves one trait influencing others in one's judgement of another person or object. Although numerous interpersonal dimensions are involved, the halo effect is most commonly observed along the dimension of physical attractiveness. Using this as an example of the halo effect, the benefits of physical attractiveness are implicitly assumed to pervade all aspects of an attractive person's life. In this case, the halo effect states that physically attractive individuals are assumed to possess more socially desirable traits, live happier lives, and become more successful than unattractive people. Similarly, physically unattractive individuals are assumed to be less intelligent, friendly, happy, and successful than their attractive peers." I think this explains itself. At the end of the day, as long as you are assertive and convince them that you know what you're doing, they'll start respecting you more. The more the intelligent conversations you have with them, the more their respect level for you goes up.
When you encounter errors during your testing, how do you address it to the client in a nonconfrontational manner? As gentle as I try to be, as non threatening and polite as I try to phrase any questions, it's still always a difficult topic to breach with clients and some people get defensive(yelling, being generally dismissive, or sometimes shutting down conversation completely!). Since this is anonymous I don't feel the need to be modest...I can't help thinking that part of this problem is I happen to be pretty cute and the menfolk don't like looking incompetent in front of the hot auditor lady. It's hard because sometimes I find myself playing dumb and speaking in a lower tone as to not come off aggressive or condescending in any matter and still be able to get the information I need, but honestly, I die a little inside every time I do this, and I'm a little sick of placating people's egos. Any advice? And how do your hot lady coworkers handle this sort of thing?
How does one tell the client that they messed up? Do not act like you found something huge and do not take pride it in front of them. Understand that we are independent but at the end of the day we are in the client service business. I've dealt with all sorts of client personalities, and it gets really hard. Be very nice to them and say something on the lines of - 'I think this is off', or "I may be wrong, but there might be a mistake here." If they get defensive and say there's nothing wrong, ask if they can explain their thought process behind the issue, and correct them where necessary. Avoid doing this through emails, tones sometimes never come off the way you want it to be conveyed. If they keep getting defensive and you're not getting through (trust me, I've been there), just go up to your superiors and tell them the issue at hand, so they can talk to the client. It's good practice doing it yourself. I've had clients who I've had really good discussions with, so we can walk through the guidance and I can point out where they're wrong, and I've had clients who know they are wrong but just get defensive and say they are not going to change it. It gets really frustrating, but it's part of the client service game, as much as we want to yell at them, we can't. At the same time, be assertive in your answers, and be confident, so they understand you know what you're talking about.It's a fine line.
As far as the second part of the question goes, 70% of me thinks this question is in jest, but let me humor you. Attractive coworkers have what's called the halo effect going for them. The Halo effect, according to Wikipedia (yes, yes, not a true source, but whatever, this isn't a paper), is "a cognitive bias that involves one trait influencing others in one's judgement of another person or object. Although numerous interpersonal dimensions are involved, the halo effect is most commonly observed along the dimension of physical attractiveness. Using this as an example of the halo effect, the benefits of physical attractiveness are implicitly assumed to pervade all aspects of an attractive person's life. In this case, the halo effect states that physically attractive individuals are assumed to possess more socially desirable traits, live happier lives, and become more successful than unattractive people. Similarly, physically unattractive individuals are assumed to be less intelligent, friendly, happy, and successful than their attractive peers." I think this explains itself. At the end of the day, as long as you are assertive and convince them that you know what you're doing, they'll start respecting you more. The more the intelligent conversations you have with them, the more their respect level for you goes up.
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