Here is the #1 worst mistake I’ve seen!

Should your resume be longer than one page?

Here is a discussion I jumped into in one of the best accounting student groups on LinkedIn.

Here was the question:

And here were the top responses I saw:

I’m not trying to hate on anyone but people…

If you’re an accounting student, 1-page is the MAX! It’s not an opinion of mine, it’s consistent across every recruiter I’ve ever spoken to in accounting!

Other industries are different. I know a guy in college who was applying to work at a University as a building manager and 3-page resumes are typical. But that doesn’t really matter to me.

Accounting should be 1-page, they’re expecting it. This is exactly what they want to know:

• What was your overall GPA?
• What’s your accounting GPA?
• Did you work during school? Was any of it accounting work?
• Do you plan to take the CPA exam?
• Were you involved in leadership activities (like Beta Alpha Psi)?

The post #1 Worst Accounting Resume Mistake I See This Year appeared first on The Bean Counter.

I remember thinking:

I’m going to be about $50K in debt when I graduate, I need to pay that back. I MUST find a job.

I was determined. I’m sure you can relate.

This is the most important part of “getting in” with these firms. You’re most likely going to be able to meet them at the career fair, and if you follow my emailing rules in part 1, you can reach just about any firm’s HR representative.

But how do you translate that first meeting to the next step, an interview.

This is far more difficult and requires real courage, and talking with people face to face!

What do I do when I meet a recruiter or company employee? What do I say?

This is the most important piece of advice I can give you. It’s not hard to create resumes and cover letters and send emails. You can do that from the safety and comfort of your home.

But getting in the door, means nothing if you can’t close the deal.

LEARN: All the Steps You Need to Take to Become A Licensed CPA

To close the deal with these firms you must follow these three principles: be enthusiastic, curious, and don’t be weird

Stand upright, chin up, keep a light smile and natural and consisten eye contact (this often requires practice so grab a friend, a video recorder, or a mirror). And most importantly, ask a ton of questions. Here are a few to get you started:

• What is an initiative that company management/leadership has been focused on over the last year and how has that affected you and your teams?
• What type of opportunities does your company have for professional development and training?
• How much say do the employees have about working on certain clients/industries/projects? What are the major projects or initiatives your team is working on today?
• What are the most important skills and attributes a candidate needs to be successful in this position?
• What are the characteristics of a successful employee in your organization? What are the most challenging things about the job?
• What would a typical work day look like in this position?
• Can you tell me a little bit about the evaluation process at your company?
• What are the common attributes of people who really excel at your company?
• What are a few things that really drive results for your company?
• If I were to be hired, what do you expect me to accomplish in the position?
• What has been your favorite part of working at this company?
• What are the major clients in your office?
• What is the next step in the interviewing process?

These should be asked at career fairs, interviews, socials, happy hours, campus events, mock interviews, etc. Even if you already know the answer, ask it and sound interested. This will go a long, long way.

And, find you own questions. This is your future, what are you interested in or excited about?

I hear the Big 4 have high GPA requirements, what if mine is low?

The first day I walked into the PwC leadership conference I saw another student holding his transcript in one hand and resume in the other. I happened to glance over and saw he had a 3.99 GPA. I was MORTIFED. My GPA was 3.23 and it was only a matter of time before they realized I was a fraud and undeserving of the conference.

A week later I got an internship offer, and he didn’t.

Others will tell you the firms require a 3.4 or above, not true.

I would say a 3.0 GPA is the bare minimum. If it’s lower than that, just work on your GPA for grad school and gain work experience and leadership experience during your undergrad. I’ve seen many grad students with <3.0 GPA’s from undergrad get hired by the Big 4.

My GPA was 3.23 when I was invited to PwC’s Summer Leadership Conference. But I had 3 jobs and held an executive position in Beta Alpha Psi.

If you have faults you need to have compensating factors. For example, in my marriage, I never cook, never. But I take out the trash and I always do the dishes!

Compensating factors, if you don’t have them, get them. It’s essential to my marriage and your shot with a great firm!

You can have a low GPA if 1) you have a reason (i.e. death in the family, medical issues, romantic relationship issues don’t count) or 2) you have amazing compensating factors such as work experience and/or leadership positions. Community service as well but it’s not as strong as if you led or ran the community service event. Just attending Relay for Life isn’t going to cut it.

You must calculate your accounting GPA and your overall GPA and only put the higher one (hopefully accounting but if not, it’s ok) unless they’re both over a 3.4.

They will probably ask for the other and the transcripts, but you’ll get in the door if one is pretty high (3.3 or higher in my book).

And once you’re in, it’s time to win them over on your charm!

For as little as $25/mo, you can: Get Hired By the Big 4 Accounting Firms.
 Learn More.

The post I saw another student had a 3.99 GPA. Mine was 3.23, I thought it was over. I got the internship, he didn’t. appeared first on The Bean Counter.

That’s exactly what I did for this guy.

Hi Andrew,

I’m currently making $95K plus bonus (around $110K annually). I understand that if I change my career to a Big 4 Accounting firm and purchase your Big 4 course, I would get a big salary hit. I’m willing to earn around $50K, if not higher.

I have an active CPA license.  I have about 1 month or by end of this year to change my career. Recently our company was acquired by another company. They asked me if I was willing relocate to lead their Accounting department, but I cannot relocate.

I’m currently working for about 60 hours. I have always been thinking that I seem to be working in a small technical accounting area without being exposed to more industry knowledge and its respective technical side of accounting. I don’t think I want to be a partner of a public accounting company, but rather want to get at least 3 or 5 years of public accounting experience before I get back to the private accounting, possibly as Controller or CFO of a bigger company.

So I was thinking about changing my career to public accounting. I’m currently holding Director of Accounting title for a small company (about $15M annual sales)

Hope this gives you some idea of my background. Will the course help me?

Thank you.

Rich

My response was swift:

The choice is yours and I LOVE to sell my courses. But I don’t think that is the best plan for you.

Here is what I would do in your shoes:

• Start working with a recruiter
• Apply on your own to 15-20 companies by reaching out directly yourself with a resume and cover letter
• Look for a company where you can make $120-$130K in the next year, will learn more accounting, work more reasonable hours for private, AND have the ability to move up to CFO or regional CFO. This is possible.

If you get into public accounting, you are taking a 5-year set back for something that you could do in 2-3 years anyway!

You will be working the same hours or more, taking a 50% pay cut, and I don’t see anything to gain. If you work 5 years in public you will probably end up right back where you are now.

I may have just saved you a quarter of a million dollars of losses in the next 5 years starting with the $397 by not buying my course

Thanks,

Andrew

I am a HUGE fan and advocate of public accounting.

Having 2-5 years under your belt can set you up for the rest of your career.

But there are times where it just does not make sense.

This guy already had 10+ years in private accounting and was making $110K+!

If he goes back into public accounting, he will earn 60% less, work for someone 10 years younger, and feel clueless for at least a year.

And for what?

A better job?

Probably not.

If you were in Rich’s situation, what would you do?

Now if are one of the many who….

• Is still in University looking for a job
• Need a solid resume template
• Wants to learn how to prepare for interviews
• Needs help preparing for the career fair
• Or any other challenges on your journey to get hired by the Big 4, you should really consider buying this course!.

The post I’m the First to Point Out. You Should NEVER Buy My Big 4 Course If…. appeared first on The Bean Counter.

Yes, I have.

A budding new hire is so jazzed to get to the office in the morning and hit the workpaper file, he forgets…..

His computer.

While partners can ‘audit by iPhone’, that usually just because they never learned to actually use a computer.

No luck for you though, we know you grew up with a laptop so don’t forget it!

Here are the other 10 Essentials Every First Year Needs In Their Backpack (Audit and Tax):

1. Gum

While your boyfriend may think it’s cute, nobody can survive a 12 hour workdays with 5 cups of coffee, three snacks, and two meals without deathly breath, bring the gum. Your fellow conference room members will thank you for it. Oh, and the client your interrogating all day.

2. One pencil with an eraser

While some people disagree with me on this one, I’m right. Any true accountant has a pencil with an eraser. No pens. True accounts are ready to erase the unnecessary at any moment! Pen strokes live forever, pencil can be whisked away!

3. Your computer and charger

Obvious reasons as noted above.

4. Phone & charger

There is nothing worse than being out of state, with a rental car, and realizing, “It’s 9pm and everyone’s gone. Shit. My phone isn’t charged and it’s a 15 minute drive to the hotel. Do I really have to print out a map!!??!”

5. Your lunch

If you’re looking to get home before the roosters coo (yes, I’m from Oklahoma), you’ll want to work the hour over lunch. It may result in more work, but your year end review and wallet will thank me.

6. Snacks

I like auditing. A lot. But a guy can only take so many weeks in a row of working 12-15 hour days without some snacks. Fruit, nuts, granola bars, chocolate, whatever your fancy, pack it!

7. At least two water bottles

Main reason? Water fountains are disgusting. I always imagine the kid (Johnny in my case) I saw in 3rd grade who put his mouth on the spicket did it right before I got there. Even if it’s 15 years later and I’m inside a fortune 100 firm office. Little Johnny scarred me for life.

But in all seriousness, coffee and stress can take a toll on your body. Keep the kidney happy, drink up.

8. A notepad

My favorite thing is when I see someone who has worked at the firm less than a year show up without a note pad. I think, “Really. Do you think you can magically remember everything in this meeting when I still can’t understand every third word from this derivatives accountant?”

Even if you don’t need it, people respect someone who puts in effort. Taking notes at least gives that appearance.

Oh and yes, taking notes on your iPhone or iPad is weird….

9. A sweater

If you are really looking to get crazy, you can bring a space heater like my wife. Or a snuggie. But I’m not kidding, if you don’t have at least a jacket, you will FREEZE. I don’t know how some people live the iceboxes of these corporate offices. I did it, with layers.

10. Credit card for coffees and dinners

While I’m generally against credit cards, some firms give everyone a card. Whether it’s the debit or credit, have it. When you’re the first year, you will be making team dinner and coffee runs. Enjoy it while it lasts. That means 2-3 hours less of work each day and a trip outside the conference room. One day, you’ll be begging to make the coffee run. But if you forget your card, and someone else has to make the run, everyone remembers. Few people forget the person that screwed up the “getting food objective” for the day.

So there you have it. You have these 10 essentials, and you’re ready for anything public accounting can throw at you!

The post 10 Essentials Every First Year Needs In Their Backpack! (Audit and Tax) appeared first on The Bean Counter.

People want to know more about so many pieces of that story. But one of the main questions was:

Can you really make 75% of an employee’s annual income in just 3 months working accounting busy seasons as a contractor?

Yes. In fact you can make even more!

I’m going to show you an example of a friend of mine who used to be a Big 4 manager. He made $90,000 a year, then quit to start his own company. Along the road, he hit some rough patches and decided to work as a contractor for a busy season.

I was able to help him negotiate a 90/hr rate. Oh by the way, that’s what I’ve been doing at Ten Key Heroes. Helping accounts find jobs as contractors!

Here are the financial details starting with the accounting salary:

This same concept applies to any level of accounting work, senior, senior manager, etc.

I know my calculation say ~66,000 and 75%, but we all know how things work in public accounting. Deadlines get pushed back, there are client delays, and what happens? You end up having to work EVEN more!

But, unlike when you’re salaried, every additional hour paid.

Get The CPA: It will help immensely if you want to be a contractor.

He also got all of his travel, room, and food covered by the firm and would be traveling about 70% of the time.

That means he has almost 9 months of the year FREE! Heck, he could just go bum out at the beach and make more than the median household income ($51K) in the US!

As an accountant working in public accounting, you have been gifted an INCREDIBLE opportunity. You can work a small portion of the year and make more than most entire families! So quit complaining!

People wonder, why would the firm do it? It’s actually a lot cheaper than you think.

Most of the money accounting firms make is during busy season. Then the rest of the year, they’re trying to find things for many of there staff members to do. In this scenario they don’t pay benefits (no healthcare, no 401k contributions, minimal training, no internship, etc).

If the guy ends up being a high performing competent contributor, he is almost guaranteed to be asked back the next year!

If you’re interested in getting one of these job, how can you do it? It’s the same process I recommend in my course How To Find Any Accounting Job in 3 Months Or Less!

If you’d like to know more directly from me, or would like help reaching out to a firm, email me at andrew@thebeancounter.com.

The post How To Make 75% Of Your Annual Accounting Salary, In 3 Months appeared first on The Bean Counter.

I offered to do it for free and record it.

If your writing your accounting resume, this is a MUST watch.

“Watch Me Critique A Resume” (VIDEO) with @AndrewArgue
➝Check out the Get Hired By Big 4 Firms Course.
➝Check out resume services.
➝Learn how to apply for the CPA exam.

The post Watch Me Critique A Resume (VIDEO) appeared first on The Bean Counter.

Great question Wyatt and there are a number of considerations when thinking whether or not you should even work during your masters!

Money.

Do you need the money to pay for school? I always try to have people go through school without incurring debt so your don’t have to pay off $55,000 of student loan debt in 14 months like I did.

CPA Exam.

More important than working during your masters is passing the CPA exam before you start working. While I think it’s VERY important to get office experience before starting your full-time job, you are getting that during your internship. Are you going to be able to work 30-40 hours, take 12+ hours of masters class + homework, and pass the CPA exam?

I did it, but it was tough.

Professional Experience.

Do you have experience working in an office? Do you understand office politics? Have you experienced getting up everyday and working 9-5 for months and months? If you haven’t, getting experience during your masters is key. If the first time you are every truly working a full-time office job is when you start in Big 4, it can be a very tough transition.

You Story.

This is where I think the biggest part of your questions comes in. It seems you know you want to work, but how can you get a company to commit to you when you know you aren’t going to commit to them?

Here are two options:

1) Get help from your firm

The Big 4 firm you are going to work for has hundreds of clients in town. Do they know anyone that is looking for an accounting intern? Someone to work part-time/full-time that they are willing to let go in a year or so? I know they do.

In fact, that’s exactly how I got my job working at a publicly traded company for the entire year of my masters degree. A senior manager I was close with basically got me the job. I don’t even think I interviewed!

2) Don’t lie. But keep an open mind.

If you are interviewing for positions that may hope you will continue for 2, 3, or 4 years, keep an open mind. Just because you have accepted your Big 4 offer doesn’t mean you have to take it. What if you LOVE this company? While it may seem unlikely, is it possible? Yes.

So I wouldn’t go crazy and tell them, “I can only work here for one year” unless they specifically ask about whether you will be going back to the firm. For now, I would tell them you are a full-time Masters student looking to get some experience before you graduate.

To answer the question, “Where do you see yourself in 5 years” say something like:

If they are very familiar with public accounting and the Big 4, they probably know you are going back full-time (95% of interns do), then be honest with them:

The post Do I Need To Work During My Masters Degree? appeared first on The Bean Counter.

Hi Andrew,

I have an office visit with a top 10 accounting firm coming up. What should I wear? What should I expect out of the visit?

Thanks,
Brandon

First off, congratulations!

You are probably MUCH better off than I was. When I had my first “office visit”, I thought it was a tour of the office.

Literally.

It wasn’t until about 48 hours before I went that I realized this was a full on…

• Pre-interview social (with drinks)
• 3+ interviews with managers and partners
• Lunch with Staff and Interns
• Sending follow up thank you emails to everyone I met

I thought I was going to see what an accounting firm office looked like. You know, check out the kitchen. Maybe peek at the men’s bathroom…..

I wasn’t prepared, but then I got things in gear. I scrambled and…

• Got to the dry cleaners for my suit (here’s what ladies should wear)

And yes guys, suit and tie is required. Black suit in my opinion and a strong tie. Get a fashionable woman to critique you. I want to make sure everything fits!

• Prepared for all the interview questions they would ask me
• Asked friends what a pre-interview social entails

The important thing I realized is that people would be watching me constantly…

You need to be on your “A” game all day/night long.

Be prepared to ask many many good questions.

Not just questions during the interview, but during lunch, in-between interviews, and at the social.

I would try to have the basic general questions in your back pocket at all-times.

You never know when you’ll have that awkward moment sitting next to HR for 15 minutes.

Here are the basics:

• So where did you go to University?
• Are you from <insert city you are currently in>
• No? How long have you lived here?
• How long have you been at the firm?
• Are things crazy this time of year? (especially recruiters during recruiting season and accountants during busy season)

Once you get an answer to one question, it should role into 2-3 more… For example:

Question: How long have you been at the firm?

Answer: About 3 years now.

Question 2: Nice! Always in this office?

Answer: No, I was in Austin for the first year.

Question 3: What brought you to Los Angeles?

Answer: My wife got a job here.

Question 4: Very cool, what does she do?

And on, and on, and on….

It can literally never end if you get creative. I literally got so good that I could take any sentence, and run at least 20-30 questions through anyone: recruiter, auditor, client, co-worker, you name it.

Did I always care?

No.

But you are sitting there so you might as well ask.

And during the interview, you need to appear excited and enthusiastic. Even if you are scared, crying, and screaming on the inside. I’ve been there.

Don’t kid yourself. Every moment counts.

My friend dominated the interview and the recruiter told me he had the job.

Then he went to the very last lunch.

The people that went to lunch with him said he was….

Disinterested

Didn’t ask a lot of questions

Seemed tired and bored

Didn’t seem like he wanted to be there

Guess what? He didn’t get the job.

It only takes one person. One moment. One sentence. One word. And it’s over.

How annoying right?

You have to “put yourself out there“, but every single word could count against you.

Stressful.

There is only one way deal with this dichotomy.

PREPARE.

Grab your wife, co-worker, professor, friend, cutie in accounting class or whatever.

Give them these 28 accounting interviews questions to fire at you.

Record yourself.

Then find your grandma, brother, tutor, or whomever and do it again.

Practice makes permanent, so improve on your practicing by listening to the recordings and taking notes!

This sounds like a lot. But we are talking about the start of your career!

Yes, you need to get to work!

Good luck Brandon, let us know how it goes!

The post What To Expect In Your Top 10 Accounting Firm Office Visit appeared first on The Bean Counter.

Hi Andrew,

As I’m going into a Big 4 summer internship, my question would be what skills would you recommend polishing up on (if any) before the internship begins? (IE Microsoft Excel, specific area of accounting to study, etc…). Basically, what should I be working on in my down time leading up to it so I’ll be ahead of the game?

As an aside, I want to thank you for what you do. Every time I’ve had a question, you’ve always responded with terrific enthusiasm and have provided wonderful insights. I’m sure these qualities have played a part in your success.

Thanks again,

Brandon Lutz

The ole summer interns!

Exciting time for those of you just kickstarting your career. That being said, my internship was an incredibly overwhelming time, especially the first week of training!

I had never…

Worked in an office

Been trusted with a corporate credit card

Worn business casual every day

Been trusted with a laptop

Have to show up on time every morning and work 8-6

Been “out drinking” with work buddies

Traveled on the company dime

And all that happened in just the first week!

There are really two categories that I think about when answering this question: hard skills, and soft skills.

Hard Skills

The good news is that accounting firms (especially the Big 4) expect you to know basically nothing. They hope you know the basic terminology (journal entries, trial balance, income statement, balance sheet).

While they won’t expect it, brushing up on your excel skills will make you stand out as an intern.

Soft Skills

This is MUCH more important. As an intern, they are evaluating you every single day. But they aren’t concerned with what you know. They are more concerned with how you handle challenges and how you interact with others.

1. Are you showing up on time?
2. Are you willing to do busy work (scanning, copying, getting dinners,etc.)
3. Do you know the appropriate time for humor and the time to be serious?
4. Do they feel comfortable sending you alone with the clients?
5. Are you dressed appropriately?
6. Are you approaching tasks with curiosity and enthusiasm, or complaints?
7. Do you give off an air of entitlement, or do you know you have to work for success?
8. Are you coachable? Do you take feedback well?
9. Do you make the same mistakes over and over again? Or learn from your mistakes?
10. How do you handle social events and drinking alcohol?

These are the questions you should be asking yourself at the end of each day/week.

And it’s important to remember they are watching you every moment, of every day. And they do talk.

But they want you to succeed. They are there to help you. They have already invested time, energy, effort, and money into your success. Don’t let them down!

Relevant articles to check out:

• Convert Your Internship to Full Time
• How to Get Promoted in Public Accounting (10 steps)
• How to Make a Successful Transition from Student to Professional
• Top 10 Excel Tricks Every Intern Should Know

The post 10 Questions To Ask Yourself During Your Big 4 Summer Internship appeared first on The Bean Counter.

She had an internship with a Top 25 accounting firm this Spring. Going into the final exit meeting, she was confident, worked hard, showed up early, and asked for feedback consistently.

She felt like she didn’t become great friends with anyone, and didn’t quite fit in. However, the work, diligence, and consistency with which she approached each work day proved she was a competent and capable prospective employee.

Or so she thought….

In the exit interview, it started with praises. The recruiter said she did great work, and showed up timely each day. However, they didn’t feel she fit in with the group.

Because of the lack of a cultural “fit”, they would not be able to extend a full-time job offer.

She immediately started questioning:

What do you mean? Can you give me examples? I am hearing this for the first time today, surely I would have heard about this before.

Then, she called me. She still wants to work at the same firm, but for another office.

This is an important lesson for anyone who faces rejection, or a firing.

When the company tells you it’s over, IT’S OVER!

Be kind, polite, thankful, and express gratitude. Even if your stomach is in your shoes.

Don’t ask any questions and DO NOT…. I repeat DO NOT try and reach out to other offices at the same company for another position. Move on!

It hurts, I know. She spent 6-12 months preparing for her internship, she thought she was done with recruiting. It’s true, 90-95% of people that have an accounting internship at the Top 25 Accounting Firms get the full time offer.

She didn’t.

She is going to have to tell her co-workers.

She is going to have to tell her friends.

She is going to have to tell her spouse and significant other.

She is going to have to tell her teachers.

She is going to have to tell her family.

This is crushing. Heartbreaking. I know because I was fired once.

But there is nothing that HR, or partners can tell her that will help her understand what happened and why she didn’t get the offer. There is only one person that can do that, HER! She needs to reflect on what happened during the internship and she needs to do that alone. So leave quickly and never look back.

She has a serious problem. It’s time that she deals deal with it.

She put together a list of all the amazing things she has done at the job and her trouble areas:

Strengths

I show up on time

I complete my work on time

I dress appropriately

I learned the material

Weaknesses

I maybe don’t fit in that well with other employees

With this list she went into the exit interview confident. But when anyone is going through the interview and internship process, where do we put her focus?

On problems!

If it is uncomfortable to think or to do something, that is where we HAVE to start.

There is only one way out of this mess. And if she doesn’t follow these steps, it will seriously impact her future potential.

She needs reflect on every experience she had and honestly ask:

• What went wrong?

Potential answer: I didn’t fit in with my team members.

• What could I have done better?

Potential answer: Get to know them more. Ask them questions about their life. Chime in on conversations.

• Why did I not do that?

Potential answer: I was afraid they wouldn’t like me. I’m just an intern, I thought I was supposed to be reserved.

• MOST IMPORTANT: What would be an appropriate response to this challenge, the next time I am in this situation?

Potential answer: Get private feedback from my team verbally on a weekly basis. Go to every team and company social during my internship. Force myself to learn 5 things about everyone I work with and write it down in a spreadsheet.

Her reflection on this moment will set the tone for the rest of her career.

Will she shy away and not face her true insecurities?

Or will she confront herself head on and remember the embarrassment she felt telling friends and family about this moment and commit to NEVER letting it happen again?

This failure provides her with one of the greatest opportunities so early on in her career! It’s time to spend the next 6-12 months going through recruiting and getting herself back on track!

If you are faced with the same situation, honestly ask yourself:

What happened and what am I going to do to never put myself in this position again?

The post If You Don’t Get Your Job Offer, LEAVE! appeared first on The Bean Counter.