Certified Public Accountants? Financial Anaylist

  1. Are any of you ladies CPAs or accountants. I am studying to be one and I need to narrow my options. I want to know your experience in the field. Do you work in public accounting or internal audit or perhaps you are a financial analyst?
    I think I will be going for my BBA in Accounting and MS in Taxation.
    What route do you suggest?
    I need help.:sweatdrop:
     
  2. I'm a financial analyst but I am not a CPA. I deal more with cost-risk analysis, pricing, projection, negotiation of contracts, trouble-shooting, and settlement of deals ... I work at an industrial bank, but we also have financial analyst who work in the accounting as well as treasury department. I think the field you chose is an excellent idea. It'll come in very handy and the possibilities are endless.
     
  3. Do you think I should do a Bachelors in Accounting and MS in Taxation could I still be a financial analyst. Or should I do a BA in Finance and Investment and MS in Accounting?

    Also how is the pay and demand for work?
     
  4. I think both the former and latter will make you qualify for financial analyst. Financial analyst is a big umbrella position for many things. There're financial analysts in different areas. In my company, the ones that worked in the treasury department focus their specialty on managing cashflows and dealing with warehouse banks, whereas the financial analysts at the accounting department does hardcore accounting. Then there're also financial analyst who do hedging, modeling, risks analysis, contract negotiations and such. Personally, I think BA in accounting and MS in taxation will probably give you more flexibility because in this case you can do accounting AND financial analysis. I know I want to get a CPA, CIFA, and MBA in the future

    With regards to pay and demand, it will depend on your experience, your degree, the job market at the time and the company you're working for. Some companies are more generous than others in pay. The salary range for a financial analyst can range from 40K to over 100K. For me, there're times when I work close to 20 hrs a day (when we have tons of deals to settle) or 7.5 hours a day.
     
  5. I'm not a financial analyst, but I am a sales analyst in a company within the Finance world (Investments) and have lots of friends who are financial analysts / portfolio managers.

    Almost more important than your MS is a CFA (Chartered Financial Analyst). Of course having both is the best thing. It's a ***** of a test...I took the first level and there are three levels total...one level per year. You have up to 7 years to pass all 3. I did NOT pass the first level and pretty much gave up. Way too painful for me. lol

    I'd say that the demand is fairly high, but competative. I don't know the details as to what major is better for a bachelors. What field are you looking to get into? A financial analyst in an investment company is going to make way more than working for the government.
     
  6. CFA!! How could I have forgotten that one!! I've been told that's the one that is applicable worldwide as well.

    I gotta make more money to afford all these tests ...:push:
     
  7. LOL Tell me about it! Luckily my work reimburses people for taking the exams...even if they don't pass...Thank Goodness! LOL

    Not just the exam fees either but all those darn books! They were super expensive.

    I also read an article that said that a CFA is worth an extra $75,000 salary wise (I think that's lifetime, but maybe not...it's been awhile)...in other words, having the CFA after your name makes you worth more to an employer. It's a big deal for sure. :smile:
     
  8. Im not a CPA, but I majored in Accounting, and by trade, my title at my current job is Financial Analyst, which I feel is more finance than crunching number (accounting). Your option are pretty comparable, but in terms of pay, I say BA in Accounting weighs more than a BA in Finance. Having a BA in Accounting paved the way for me in terms of getting this position. I've only been out of school 3 years, and I'm pretty fortunate to have this job. As the demand for work, working for public accounting firms require looong hours. But believe me, this will pay off in the end!! And perhaps, this is my biggest regret, I wish I have gone to work for public accounting right after college. With a public accounting experience, you become more marketable, hence, command your salary (IMO). A lot of companies look for that!

    Good luck and you are on the right path!!!
     
  9. My dad is! He has 4 accounting degrees (or licences- not sure- but I only know of 3): CPA (Certified Public Accountant), ABV (Accredited Business eValuator), and CFA (Certified Financial Analyst). He's made the most money in Business Evaluation, but after a while all the divorce, death, and arguments associated with needing a business evaluated really wore on him. So he decided to open up a business that offers full financial services to small businesses (payroll, tax services, etc.) and seems to much prefer dealing on the lighter side his field. Good luck in whatever you choose!
     
  10. I have a CFA just for showing off because as a trader, it's completely useless:p.

    You don't really need to have a specific degree as such to be a financial - investment bank sense - analyst, one of my [older] colleague has a BA degree in Theology :shrugs: and he is now the Chief Economist :upsidedown: and he gets asked whether US$-JP¥ is going to go up or down and people take $50m positions on the back of his words (BTW, one day I went to thank him for his opinion and asked him how does he know all this, he says: you just say something, it's 50-50 anyway :lol:).

    The point is that it is not necessary to get a specific degree because once a firm accepts you (you have to show them you have motivation, etc.), you will go through the same training programme regardless of what degree you have. If necessary this training programme will, at the same time, guide you towards CFA, even if you don't have a Master. And as a lady says above, the firm will pay for you to take the course then :heart:. As for a CPA, I think it would be useful to have an accountancy degree so you know what you are talking about :smile:.

    Talking about wages, this is a good topic *nodding*:greengrin: a graduate analyst at an investment bank - take your pick of names - gets a starting $60,000 with a "potential" (subject to interpretations, LOL) of 50% bonus. Once you move from the analyst position to associate position after three years, it gets quite serious and very lucrative. A 'average' guy in my firm gets £100,000/$186,000 (40% tax margin applies!) and we are talking about someone who is in late 20s.

    P.S. I'm out of the loop for a while now because as a trader, one gets judged by one's performance and the last time I checked my bonus was 400% of my salary. If I mess up, I get nothing LOL.
     
  11. Thanks soo much. Is anyone here in the accounting field? Internal Audit( I heard this could be gruesome) or a public accountant?
     
  12. My sister works for an auditing firm. Her hours vary from 50 hours a week to 90 hours a week during busy season. She also travels a lot for her line of work, sometimes at the last minute. I'm jealous ... I seriously wish my work can be like hers <-- I am NOT being sarcastic
     
  13. Wah! Your company reimburses you even if you don't pass?!!! Lucky!!! Mine does NOT reimburse us anything and I work for an industrial bank :push: ...

    75K more? Dang. Ok, so now I have MBA, CFA, CPA, and CIFA lined up. How many years is this going to take me? I am afraid to calculate how much it'll cost me ...:sweatdrop:
     
  14. It depends on the field you want to get into.

    Either can get you a job as a financial analyst. You don't need a CPA.

    You can even get your degree in something completely different and get a finance job, especially if you go to a target school. (Suny schools also have an advantage, I think.) If you don't go to a target school and don't want to be an accountant, you should probably get a BA in finance....

    ***

    Just reread your first post, if you want to be a CPA you should probably get a BA in accounting....
     
  15. Btw Minnie, I just want to add that my sister (wo works as an auditor at aone of the big firms) did not have an Accounting or Finance major. She majored in Legal Studies and minored in Econ.

    My major was Psychology (I wish I had gone into Engineering, it would've suit my personality and thought process better), and I'm a financial analyst. Companies hire you based on your skills and ambitions. I got into my current company because they see from interviewing with me that I'm very analytical and that I have been through several different industries prior to this and that I have skillsets in cost-risk analysis, communications, logistic, tech support, and customer service. Even if you have no experience, if you can demonstrate that you are analytical, it will still work to your advantage.