Accounting Kid Advice

[HellgateBasement]

Hard to think of a field that is a worse match for your first criterion (enjoyable stress-free life) than banking. Also makes it hard to enjoy your hobbies, since most likely you end up in NYC. I do know some folks who made it work in LA, SF, Denver - where at least in theory you have access to decent skiing, but you'll have no time as an associate to actually partake. Maybe down the road you would, and it would help you pay off your student loans for sure, maybe buy a ski house you visit once a year. What kind of school are you graduating from and with what kind of grades?

If you enjoy finance I say fuck being a financial advisor - seems like you realize that's a sales job and not finance. There are a million real finance jobs on the spectrum between being an FA and being a banker, I don't think you need to jump from one end of the spectrum to the other.

[Core Shot]

Small biz.
Understanding money and numbers helps.

Look for local biz run by old farts ready to retire.
Hope to breathe new life into it.

[Sirshredalot]

not sure if this thread is dead but id like to revive it if possible and hear from OP. Find myself in a similar position, graduating with my finance major in May and with the current situation my job search has been very quiet. Not sure if I should deviate from my investment banking focus and move into sales or financial advisor positions that are more common, or even just try taking any position within a company I like or in an area id want to live and allow me to partake in my hobbies. big motivator is having an enjoyable/stress-free life and paying off my student loans. sorry if im breaking some rule about posting in old threads, but then again I wouldn't give one if I could find a fuck

It sounds like you probably want a corporate finance role at some big company. It's not slimy sales, it's not the iBanking pressure cooker. The path to grabbing the brass ring isn't as clear as it would be in banking, but the money is fine.

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[HellgateBasement]

It sounds like you probably want a corporate finance role at some big company. It's not slimy sales, it's not the iBanking pressure cooker. The path to grabbing the brass ring isn't as clear as it would be in banking, but the money is fine.

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This was my first thought as well. An FP&A role at a big corporate would provide most of what the OP is looking for - solid pay and career progression, flexibility on location and not completely soul crushing (depending on company) so you could actually enjoy your life. The skills are pretty portable between industries and there's even a vague path from FP&A to corp. dev. if you feel you were just born to do M&A.

[neufox47]

Not sure if I should deviate from my investment banking focus and move into sales or financial advisor positions that are more common, or even just try taking any position within a company I like or in an area id want to live and allow me to partake in my hobbies. big motivator is having an enjoyable/stress-free life and paying off my student loans. sorry if im breaking some rule about posting in old threads, but then again I wouldn't give one if I could find a fuck

Maybe things have changed in the last few years but, investment banking is the worst career choice ever for an “enjoyable/stress free life”.

Almost anything in finance or accounting is going to require you to “pay your dues” for a while before you can develop enough skill / value to get a cushy position.

[skaredshtles]

I got a finance degree way back in the late 80's/early 90's and was pretty much in the same boat with regards to what I wanted (low stress/enjoyable life), so I abandoned finance and got into IT.

Not saying it will work for you... but it sure did work for me.

[Mustonen]

Small biz.
Understanding money and numbers helps.

Look for local biz run by old farts ready to retire.
Hope to breathe new life into it.

This. Or a business where finance and accounting are core to the business but not the business itself, like small financial services firms. Frequently these and other small businesses find themselves dependent on finance and accounting without having a functional knowledge of either, and you’ll be godlike dispensing heady nuggets of GAAP without any effort.

Having worked as the lead of the finance and accounting functions of smaller orgs (between 40 and 130 employees) the last decade or so, the actual finance and accounting were my least favorite parts of the job, which was fine, I was able to focus on team building and contributing positively across the organization.

It seems that work life balance and “interesting” are often (not always) at odds with each other... have a good feeling for how important each is to YOU.

Consider developing other skills such that your technical skills and knowledge in finance and accounting augment what you actually do, like management or lending or sales or risk management. A sales manager or lender who truly understands the numbers and how the accounting works can quickly set themselves apart.

Or adjust your green visor and embrace the rote nature of accounting for what it is. Different strokes and all.

[Mustonen]

I got a finance degree way back in the late 80's/early 90's and was pretty much in the same boat with regards to what I wanted (low stress/enjoyable life), so I abandoned finance and got into IT.

Not saying it will work for you... but it sure did work for me.

Right. Or an IT leader who understands capitalization and opex ratios and budgeting? Winning. That’s when you’re able to work into strategic roles (read: interesting). Just acquired an org that had excess liquidity and a minimal fixed asset ratio who was leasing all their copiers and printers because the IT guys who made the call didn’t understand how the numbers actually worked and nobody dug into it. Minor enough, but five figures worth of wasted bullshit there alone.

[DryorDie]

not sure if this thread is dead but id like to revive it if possible and hear from OP. Find myself in a similar position, graduating with my finance major in May and with the current situation my job search has been very quiet. Not sure if I should deviate from my investment banking focus and move into sales or financial advisor positions that are more common, or even just try taking any position within a company I like or in an area id want to live and allow me to partake in my hobbies. big motivator is having an enjoyable/stress-free life and paying off my student loans. sorry if im breaking some rule about posting in old threads, but then again I wouldn't give one if I could find a fuck

Hey man, I started this thread 7 years ago. Time flies!

A few months later I moved to a small ski town in Colorado and worked for a country club as a staff accountant, which really got me into the details and gave me a baseline knowledge to grow upon. After a few years I moved onto a senior role at one of the smaller ski resort holding companies with a bigger team and more going on (multiple entities, currencies, M&A integrations, continuous improvement projects). Spent a few years there and also studied for a year and got my CPA license. I was ready to chew off more when a smaller sporting goods company needed some help turning around their accounting function. So I jumped at that opportunity a few years ago. The progression at my current company is peaking, so its about time for something new.

Looking back, I would make sure your first real job out of school is with a great boss/coach who can help you progress your career & skills. Just always be asking for more/learning/trying to make your bosses job easier. I've always tried to mix my passions with the businesses I've worked for, but I'm not sure if that's essential. But it does provide you with colleagues that you relate to and a bunch of good friends. Good luck with your search. Where are you located?

[old mexico]

It’s been a while and I want to start off by thanking everyone for the insight! I don’t go on here often but I sure was happy to spend some of my afternoon going through everyone’s response.

Responding to the few questions asked, I go to the university of Iowa and have A/B grades. Chose to go big ten because of a residency program to get me instate tuition and save a lot of money. Im from Chicago but my mom recently moved to los alamos New Mexico and will likely relocate there after graduation. Have family and my dad in Chicago but not really an option for rent-free living like my moms haha.

For an enjoyable life all I care about is being somewhere cool like anywhere out west (SLC!) versus my home town of Chicago or a place like New York. I realize the upside to establishing myself and then being able to relocate in the future but I’ve lived my entire life in an urban/ concrete setting and think I am over it. Salt lake seems like an awesome balance between the career opportunities of a city and recreating opportunities of a mountain town. Have been applying out their like crazy but I know local candidates are very attractive over someone like me. Santa Fe is cool however not as opportunity filled as other places.

That being said, I again want to thank everyone for opening my mind up and allowing me to make an informed expansion in my job search. I feel like I should also include that if ANYONE is in need of a finance grad for a position starting after may 15th, PM and let me know. I will be forever indebted and grateful for any opportunities presented, especially one in Utah!


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[leroy jenkins]

my cousins are both accountants, groomed for it by their mother. if you ask why they chose that career their only answer is job security. man thats no way to live your life.

I also saw a study that ranked professions by desirability to potential mates, not getting laid but married, spawning little creatures etc. Turns out women were attracted to money and stability and status, as we all know, but were also very attracted to men with professions that were useful to society, and even more attracted to men with meaningful and fulfilling careers that had a positive effect on society. Turns out that this is more attractive than money and status, as long as the guy isn't completely broke and is at least sort of stable.

Funny thing is accountants were the least desirable and impressive career. Neither super rich and powerful and impressive, nor truly fulfilled or making a positive impact on the world. When it ranked societal respect for a profession, not just romantically, lawyers were the bottom of the barrel, although accountants weren't far off.


You probably shouldn't make big life choices based on hoping they will make women like you more, but it is food for thought. Maybe if you're going to be an accountant, do it in cool places for cool companies or charities, or at least use it to create a career that will give you freedom.

[AdironRider]

I think very few professionals, outside of rock stars, get into the field because the chicks are great.