Brehs is accounting a good major?

[Piff Perkins]

Take it seriously and you will always have a job and make good money that turns into great money soon.

 

[iceberg_is_on_fire]

Make what leap?

you can’t sign off on an audit or tax return without being a CPA

and what company has a controller that isn’t a CPA?

Plenty and yes you can. A CPA helps as far as stature but I've come across plenty of people in my area {Chicago} that does not have a CPA. After a while, just like all jobs, the experience is more valuable than the certification. In my case, no CPA, the CFO earned it but her license has lapses. Lead guy on finance committee used to be an auditor. No one has ever questioned my ability or knowledge. I put together the financial statement packet every month for the finance committee meetings and write the narrative.

Why You Don’t Need to Be an Accountant to Be a CFO

At the 1,000 largest U.S. public companies, the portion of CFOs who are certified public accountants fell to about 36% last year, according to data from organizational consulting firm Korn Ferry. That is the lowest figure in the six years Korn Ferry has been collecting the data, down from 46% in 2014.

Finance chiefs today often oversee more than just the books. They are increasingly in charge of human resources, information technology and elements of enterprise risk management. As a result, companies increasingly want skilled general managers who possess strategic savvy and a firm grasp of operations in the CFO seat.

This is where my other degrees come into play. Of course for an audit firm, you need the cert. Myself and my career path? Not really needed. I'm in the nonprofit sector, will likely stay here. I have my BA in accounting, I've been a regular accountant, an assistant controller and now a controller. I have demonstrated progression from various places and I have great references. I've lead the implementation of a software change, helped to rewrite the chart of accounts, led clean audits. At the end of the day, everything that I put on my resume, when rubber needs to meet the road, I can do successfully because I've done it before. My level of experience, especially from working at a nonprofit, give me a strong advantage going forward.

 

[VirginiaSlim75]

Make what leap?

you can’t sign off on an audit or tax return without being a CPA

and what company has a controller that isn’t a CPA?

The job part of a cpa is easy?

My company’s Controller doesn’t have a CPA. Just has a ton of experience.

 

[llmrkc07]

Tbh for the amount of work that goes into it the reward seems to be lacking in my opinion. I know a chick now graduated with her masters from a very good top 10 business school with above a 3.5. She got an offer from PWC for $61k.... And get this they pushed back the start date and lowered the offer because of Covid to $57,000 ....She also has an offer from Ernest Young, not sure the amount but it's low 60's as well. But she got another smaller company offering her $63k which she's taking (also getting a security clearance so there's some consolation).

She studying for the CPA now and you have to take 4 tests????

I'm telling her for all that studying she doing she should just learn Tableau and go into data analytics or project management or something.

If you love doing that type of work then more power to you. But if you just want to make the most money possible using your same brain function there's much better out there.

I feel you, but she is set in the long run. Accounting is no easy major, you really gotta put in the work. You cant skate by with low grades either, it will determine your job prospects when you graduate.

They increased their salaries since I been in school, not going to give my age but back when i was in school, starting salaries for the big four fresh out was ~30,000-40,000. Those were pretty decent salaries back then, and it was during the financial housing crisis. I remember being worried if I was going to get a job but it all worked out. I ended up getting on with Merill Lynch as an intern (eventually got hired on), but I hated that place. It was very white and corporate and I felt so uncomfortable back then. Stuck it out for a few years though and learned ALOT about working in corporate america.

I am no longer in the finance industry, I'm actually in Education (high school business/economics teacher) and I like it. I want to teach at a Uni level eventually, which is another reason I'm going for my MBA. Its either keep teaching or become a CPA (and still teach). Eventually, a PhD in Economics, but I gotta take it one step at a time. LOL

Your spouse can take the education route right now actually. A lot of State uni's and JC's will hire her with a quickness, especially if she graduated from a reputable school. She can also go the PhD route and teach as well. COBA professors are often the highest-paid PhD holders, especially in Accounting, Finance & Economics, assuming she takes the tenure route. They are giving those out alot lately, due to a shortage of Business Minority PhD holders, especially for AA. I believe the number when I was in school was less than 1% of COBA professors were black, and they are hardly any males, most are female.

 

[L&HH]

I feel you, but she is set in the long run. Accounting is no easy major, you really gotta put in the work. You cant skate by with low grades either, it will determine your job prospects when you graduate.

They increased their salaries since I been in school, not going to give my age but back when i was in school, starting salaries for the big four fresh out was ~30,000-40,000. Those were pretty decent salaries back then, and it was during the financial housing crisis. I remember being worried if I was going to get a job but it all worked out. I ended up getting on with Merill Lynch as an intern (eventually got hired on), but I hated that place. It was very white and corporate and I felt so uncomfortable back then. Stuck it out for a few years though and learned ALOT about working in corporate america.

I am no longer in the finance industry, I'm actually in Education (high school business/economics teacher) and I like it. I want to teach at a Uni level eventually, which is another reason I'm going for my MBA. Its either keep teaching or become a CPA (and still teach). Eventually, a PhD in Economics, but I gotta take it one step at a time. LOL

Your spouse can take the education route right now actually. A lot of State uni's and JC's will hire her with a quickness, especially if she graduated from a reputable school. She can also go the PhD route and teach as well. COBA professors are often the highest-paid PhD holders, especially in Accounting, Finance & Economics, assuming she takes the tenure route. They are giving those out alot lately, due to a shortage of Business Minority PhD holders, especially for AA. I believe the number when I was in school was less than 1% of COBA professors were black, and they are hardly any males, most are female.

Yeah my comment wasn't to say accounting is wrong. My father is a CPA in both DC and MD and my older sister got her degree there as well and works in it (no CPA yet). Pops been making 6 figures for over a decade and my sister I think just got a new job last year making $70k. It's definitely a profession you can live well on. My spin for my female friend was just that for how smart she is I know people much less capable and no where near the credentials she got (her masters was at UVA) making $100k+. That's why I was offended at her salary offer for her and then they used this crisis to drop it even more mind you she's interned there (PWC) the last 2 summers. Part of it is she isn't even willing to negotiate, just taking what they give her. But you're right she actually does want to eventually go the academia route and pursue her PhD and teach at a University and all that.

 

[etrofllenrod504]

My fiancee has her master's in accounting and forensic accounting also cpa and pulls in more than 6 figures(because she does private shyt on the side also). I don't know the ins and outs but I do know she does well and basically will always be in demand.

 

[iceberg_is_on_fire]

My fiancee has her master's in accounting and forensic accounting also cpa and pulls in more than 6 figures(because she does private shyt on the side also). I don't know the ins and outs but I do know she does well and basically will always be in demand.

Forensic accounting helps for things like fraud and subsequent litigation from lawsuits. Damn near everywhere you go in accounting, if you stick with it long enough, you will be able to make a solid living.

 

[llmrkc07]

But you're right she actually does want to eventually go the academia route and pursue her PhD and teach at a University and all that.

Thats good man. We are in business roles but in academia, we are just not there, but we need to be. I encourage any AA male to go into teaching, not just business but teaching in general. I say that as an educator, we NEED to be in the classroom. Its important for black kids to see folks like us in those positions.

I had no desire to teach when I was much younger out of school, but i had a patna that is a teacher and he put on. Best decision I ever made.

 

[Family Man]

i didn’t wanna be like them cac kids in college that switch up majors outta nowhere, but going from business admin to accounting won’t hurt me. I was thinking of getting into accounting and then getting the cpa. And accounting seems cooler cuz I wanna start my own shyt later down the line. I wanna hear from you brehs that are accounting brehs.

No it's not a good major. It's one of the careers that slated for automation and AI. Drop out of college and pick up a trade like electrician or plummer.

 

[CrimsonTider]

No it's not a good major. It's one of the careers that slated for automation and AI. Drop out of college and pick up a trade like electrician or plummer.

How do you automate accounting?

 

[Luke Cage]

finance is a better major but accounting is still good
I'm 28 making $113K base salary (working in direct lending) as a CPA in Canada (annual bonus of 20-30% too)\

but if i went the finance route and chose a better school i might be making more

One thing i should point out is you don't have to go the CPA route to make money. There is also CMA, which i feel is more 9 to 5 ish.
all i have is the BBA and i'm working as a CFO making 100K a year, but i'm 35.

 

[Luke Cage]

How do you automate accounting?

You can't, all you can do is automate our tools and make our jobs easier.

 

[iceberg_is_on_fire]

Thats good man. We are in business roles but in academia, we are just not there, but we need to be. I encourage any AA male to go into teaching, not just business but teaching in general. I say that as an educator, we NEED to be in the classroom. Its important for black kids to see folks like us in those positions.

I had no desire to teach when I was much younger out of school, but i had a patna that is a teacher and he put on. Best decision I ever made.

I'm an adjunct. I've been doing it for over 8 years. I do it remotely. Even for adults, you'd be surprised when they see me in the virtual classroom instructing. I went back to school to get my credentials and for them, seeing that the teacher was once in their shoes, makes their dream seem believable, especially if we come from similar backgrounds and have had similar experiences.

 

[iceberg_is_on_fire]

How do you automate accounting?

How do you know say for my company, when to enter grants, when to do accruals, expense or revenue, etc. Way too many judgement calls and subjective natures behind things to fully do this to accounting and then you'd have to do it for every single company. It's impossible from my perspective.

 

[King Poetic]

Yeah

My homie from college doing well with his

dude moved to DC and lived in a nice area and now moved to San Francisco and that high cost of living.. so I know he making money