Public Accounting

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I am studying accountancy. I have already thought about how my lack of social skills could be a problem, but I like the subject. I am not giving up until I try.

Besides, the economy here in Brazil was not all that affected by the crisis. Any time I look at an employment website, I can find vacancies on public accounting companies. I am only waiting until my internship is over (May 2012) or when I finish school (July 2012).

I am a (tenured) accounting professor and also a former (successful) hedge fund manager . These comments are not surprising. Public accounting is mostly about client communications, and promotion is mostly about sales. I have never been able to sell or to figure out what people want. My hedge fund only got funded because it was based on computer technology, and it was obvious that I would make lots of money for the investors.
I would recommend a PhD in accounting or finance to anyone who, like myself, has mild aspergers. The degree takes several years past a masters to obtain, but most schools provide good financial support. There is a severe shortage of PhDs, especially in accounting, and that should continue for decades into the future. Starting academic salaries for graduates of good schools are around $150K for nine months of research and teaching. Promotion is almost entirely about research. Social skills are mostly unnecessary.

I suggest that you do not rely on recruiters. I would send out a very large number of resumes (a few hundred) with one to each firm that MAY be able to use your skills. Then, also send a resume to every firm which posts a job on Monster, a company website, or anywhere in your area. Then, follow up with phone calls to all of the posted jobs.
Also, find a friend (NT is best) who will let you practice interviewing. Have your friend pretend to be the recruiter. With practice, you should e able to get enough interview skills down so that when you get an actual interview, you can just repeat what you have practiced.
Also, with BA and MS you should be applying for full-time positions. It seems that your problem is not your qualifications, but the interviewing skills (or tenacity to keep trying). That problem may be identical for part-time and full-time positions, so try for full-time in addition to part-time.
good luck.

I'm in the same boat. I'm 43, have a master's in accountancy, and am new to the field. I've been unemployed for six years. My last job was as an options trader, making markets, and had to quit because of a complete nervous breakdown from job stress. I went back to school, got my master's and . . . nothing. I think my interviewing skills are decent, but it doesn't matter, because I never get an interview. Maybe one every six months.

I thought about going into a PhD program, but was turned off by the work I saw being done in academic accounting. It strikes me as a lot of people trying to be second rate economists, with elegant mathematical models that rely on assumptions that make them completely inapplicable to any real world question. I'm enough of a math nerd that I enjoy reading the papers, but the thought of needing to find an advisor among this crowd, and then working with him, appalls me. I have research interests connected to internal auditing, but nothing that has a place in the world of academic accounting.

I'm starting to feel like I'll never have a job again.

JMN,
My own PhD is in economics so I sympathize with your viewpoint. I minored in Tax Accounting for greater employability. It is a much better market. While I share your opinion of accounting research, over time I have come to realize that this is a very important discipline which needs good research. It is really in a development stage, and bright new academics can help with that.
That having been said, since you say you are now 43, you would be about 50 when you finished your degree. That is something to keep in mind. Still, if you have high GMATs and other credentials, decent accounting PhD programs would provide support for you while you completed the degree.

Do you have any recommendation for PhD programs that aren't as numbers heavy? My research interest is really about the process by which information is put to use in a company. In particular, it's on situations in which managers think they know more than they really do. This comes about because many managers have an underdeveloped sense of uncertainty, or because ambiguity gets stripped from reports as they move up the org chart, or any number of other reasons. I'm not sure how I'd set up the research, but I figure that that's one of the things I should be learning in my first year or two in a program. As I said, it's not the sort of idea that lends itself to a mathematical model. In fact, I find that the academic accounting field is one that is rife with examples of what I'm looking at.

My MAcc is from the University of Minnesota, which I think has a great program, but I'm less thrilled with the tenure track faculty I'd have to work with.

The other problem is getting health insurance. I have multiple pre-existing conditions and getting an individual policy is not possible at the moment. Minnesota finances its high-risk insurance program sufficiently to allow anyone in my position to get insurance, but until the health care reforms kick in in 2014, there are only three other states that have done so. At the moment, I need a program either within one of these states, or one where I can be confident that I'll get something good through the university.

[quote="JMN"]Do you have any recommendation for PhD programs that aren't as numbers heavy? My research interest is really about the process by which information is put to use in a company.

As far as I can tell all of the top PhD programs in Accounting or Finance are quantitative. That should be good for most aspies. It sounds like you want to do research in managerial accounting. Before selecting a university, you should look at your GMAT scores, grades, and see if there are any outstanding letters of recommendation that you can get. That will give you an idea of where you can get admitted.
Fortunately, there is a sufficient shortage of accounting PhDs (generally fewer than 100 people worldwide get that degree each year) that a degree from a second tier school would still leave you in a good job market. Also, before entering any PhD program try to learn the graduation rates and times. Most programs will tell you it is a three year degree. In fact, it generally takes 5 to 7 years past an MS or MBA. Some schools have a 75% fail rate. Ask how many students entered 8 years ago and what happened to each of them. Some of the second tier schools actually do graduate most of their matriculants in a 3 year period. While it means a loss of prestige, a relatively quick and easy degree may be good compensation for that loss.

Not sure if you are still interested. I am a CPA.
B

In grad school I took accounting theory and the professor was good to show us a lot of the research done by accounting professors. Don't think I would do well at it [that type of material makes my eyes glaze over], also I am far too socially anxious to be able to teach effectively. I can speak in front of people on a limited basis, but not as a regular part of my job.

None of the job prospects in my earlier posts have panned out, and it's looking like I'm going to be three years unemployed this summer. I do well enough in interviews, but not enough to beat out more experienced people. I was always a good student, did well on the CPA exam, etc., but I don't know if the education was really worth it since it does not seem to be resulting in any kind of career. I'm going to turn 40 this year and am very disheartened by my job situation.

I think the government jobs are going to continue to be difficult to get until the job market substantially improves. Right now you have a lot of people going for government jobs who in the past wouldn't have considered them. When I was in college back in 2005 the consensus was that the IRS and other such jobs were for students who had poor grades and weren't considered for public/industry accounting jobs. Now those jobs are highly sought after.

I have never worked in Public Acctg. I graduated and went to seminary, then change my mind and at 30 entered the job market in Accounting. Some ten years later I passed the CPA. I have always worked in Industry (Private or Public Companies). Either Senior Accountant, Accounting Manager, Fixed Asset Manager. It has worked for me.

Bill

Well,

I never worked in Public Accounting, yes it would help if I want to be CEO of a company but I don't even wish to be a Controller.

I graduated in 1981. Got my accounting degree in 1986. Passed the CPA exam 1996.

I used Becker and attended the sessions and sat at the back of the room. I liked the routine and I did the homework. I would not have been motivate to study on my own. I was not a great student in College. B average and made the Dean's List several times but I got a "C" in Intermediate Accounting. Sound familiar? You don't need "A"'s in Accounting to pass the CPA exam - really.

I passed all three parts the first time I sat for all four parts. The part I missed was tax and I passed that the next time.

Most of my positions have been Assistant Controller, Senior Accountant, or Accounting Manager roles for a private company. Some private companies were traded on the stock exchange and hence public but I never worked for the big six accounting firms.

Having my CPA has done more for me getting the job and not getting screened out. So it was worth it for me. I don't make the kind of money some CPA's do, but it seems to me there are those CPA's who make way over six figures and then there is me. Not many CPA's out there that want to work below say the Controller Level. But companies are desperate for them!

It is much easier to find a job when say you don't need to make 125,000 per year. I do good to squeak over 50K but I am happy.

Actually, I would rather be happy and enjoy going to work than making $$$$ just the money and be miserable. I had one job making 75K and I hated every minute of it. If you want to know more PM me, I would be glad to discuss more about the CPA exam with you.

I was also past President of our local CPA chapter which was hard for an Aspie. But then a room of CPA's is much like a room of Aspies.

B