Eric P. Butts

Career Coach. Management Consultant. Writer. Marketer. Accountant.

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Why Are There Still So Few Black CPAs?

Diversity in Acounting

First, if you clicked the link for this post and don’t happen to be black, thank you. Now, stick around because this post is looking for your help just as much as anyone else’s.

Black representation amongst CPAs is HORRIBLE.

 
The accounting profession continues to face a problem nobody seems to be able to solve, so I want to raise the topic here and do some good old fashioned problem solving. Describing the the trend as minimally progressive would be a gross understatement. To give you some context, before I took the CPA exam in 2006, I remember reading a statistic that less than 1% of CPAs are black, a lower proportion than in airline pilots. You might be asking why this is significant. For starters, the overall black population in the US was 13 % at the time so blacks are grossly underrepresented in the profession, but what  really stuck out in my mind about this stat was the fact I’d never seen a black pilot. And after flying round trip  almost every week for three years I still haven’t…go figure.
On the other hand, I personally know 4 other black CPAs, 2 of which I went to college with, 1 I recently met through a high school alumni connection, and the other is the only black CPA I’ve worked with professionally. I imagine that will change now that I work at a CPA firm, but no such luck just yet.

According to this article from Accounting Today, less than 1% of CPA firms are black and this article from the Washington Business Journal had the number of black CPAs overall stagnate at 3% for 10+ years. While I respect both of these sources, especially Accounting Today, there is another section in that article I wanted to ignore but after looking at it over and over again for the last couple of weeks, I just can’t.

Minorities tend to have a lot more single mothers,” said Ross. “As a result, job demands have a significant impact on their needs.”He noted that there is often a cultural problem for many minorities fitting into the culture of an accounting firm, especially with the long hours in the workday. As a result, many minority accountants take the first job offer that comes along after they arrive at a public firm, often landing at staff accounting jobs in various industries

I mean, wow. I guess they have it figured out. Black accountants apparently are oversexed AND lazy. Amazing. At least that was the thinking at the end of 2011 when that article was written. I’m not sure how the editor let that slide but I’m not going to harp on it too much here, at least not in this post. The fact is that people across all backgrounds struggle with the CPA exam and the hours. Both are a challenge and the lifestyle isn’t for everyone but to say somehow black people are somehow predisposed to dislike long hours lacks reason. There’s more to the story than that.

We NEED more diversity in accounting classrooms.

 
I ended up pursuing accounting as a result of a high school summer experience at a program called LEAD, which focuses on the broader issue of improving minority presence in corporate leadership positions. This only convinced me that getting an accounting degree made the most sense for me to find a job post-college. Two other experiences convinced me I needed to go beyond just the accounting degree.
  1. One of the faculty members at CMC heavily involved in diversity recruiting made an instant impact on me. He hails from Egypt and his passion for making an impact on the profession has stayed with me since the day I met him.
  2. I attended an AICPA leadership conference and received a copy of this book talking about the struggle of Blacks in the early 1900s and the lengths they went through to achieve the CPA designation.

The reason we don’t have the desired diversity in accounting classrooms or in the profession comes back to a simple fact….

Accounting is never considered a sexy profession.

And by sexy of course I mean the profession most associated with affording a few luxuries, not just being able to pay your bills on time. Doctors and lawyers, professions requiring the most school (and most debt) tend to be held in the highest regard. The truth is in many black communities, there’s a focus on being able to say, “I made it” AND show it. Getting your CPA is an accomplishment but doesn’t have nearly the same cachet as saying you’re a doctor or attorney. And to be clear, it’s not like people come up with this notion on their own.

I went to a boarding high school through a scholarship program based out of Chicago and my wife and I both have spent time volunteering with them since graduating from college. While in the office one day, my wife heard someone within the organization openly question a student’s ambition of going to a great school and being an accountant as if somehow these two things are mutually exclusive.

I don’t understand why he wants to go there. He could go to a state school and be an accountant.

The young man in question here happened to be Hispanic but you get my point. I’d also add this comment wasn’t made in front of the student, at least not this time but it certainly helps to provide an example of how certain notions get perpetuated across generations. After all, if someone working at an organization working to provide opportunities to the low-income, largely black demographic, imagine what kind of messages are being sent by the general public.

So what can you do about it?

Well I’m glad you asked. The most important thing you can do is foster an environment of sponsorship.  While you won’t ever be able to convince me of there being a cultural difference in work ethic as noted above,  I realize life can be different when you’re surrounded by people who don’t look like you and may not have some of the same life experiences as you. There’s no denying it. I lived that and continue to live it. Having a someone with a genuine interest in keeping you around, can go a long way. People will likely find they have more in common with their colleagues than they thought, skin color aside.

So if you see anyone (doesn’t just have to be a black person) in your firm who looks aloof and not quite fitting into the firm culture, look to become that person’s sponsor. Find a way to establish a relationship and see if you can’t be that difference that changes helps that person avoid a premature career change.

You’ll learn a lot. You’ll teach a lot. And the firm will be better off for it. Who wouldn’t want that?

If you want to bounce ideas on how to get this started, or want a sounding board before you take any action reach out to me. I’ll be a sounding board for the cause if nobody else will.

Diversity Inc also shares some thoughts on the topic here.

The National Association of Black Accountants (NABA) also has an advocacy program to foster the sponsorship I mentioned above, which you can read about here.

What am I going to do about it?

First, I have to take my own advice about being a sponsor. I’ll be honest with you – a few weeks ago I received a LinkedIn request that said we should connect because this club of black CPAs has very few members. I accepted the invite to connect with no hesitation. Call it what you will, but if the simple act of helping to create a critical mass in the social space helps grow this community I’m all for it.

The other thing I’m going to do is look for teaching opportunities so I can be the face in the room to show black accounting students (and anyone else who wants to listen for that matter) where you can go in this profession and more importantly that accounting is in fact sexy.

I’ve looked at different options in the past like teaching a Becker review course or getting involved with some of the local colleges in the area but didn’t find anything that made sense. But now that I’m moving to the bay area, the hunt is back on. It’s time to put my money where my mouth is.

Complaints? Feedback? Questions? Leave them in the comments section below.

Oh and here’s a link again to the book that started it all for me. Enjoy.

Comments

  1. I personally know a black pilot and most of them he said don’t fly commercial airlines because of the low pay initially. They fly private and if you travel in the Caribbean on say Liat airlines, you almost NEVER see a white pilot.

    As for the CPA exam and color, the exam is tough to pass if you don’t tackle it right after college and before you start working a public accounting job. The black folks that I do know who passed it, passed either while working in private industry or passed while being unemployed.

    The only reason I finally passed is because at my private industry job, I studied almost ALL day at work. I was simply too tired after work to study. And I have no kids! Not saying its hopeless for a black single mother to do it, because there are ALWAYS exceptions to the norm, but its just not likely to happen.

    So if we are going to mentor folks to take and pass this exam, it HAS to be either while not working, like right after college or in a private industry where often the license isn’t even needed!

    Reply

    • I went in the military after high school and after 8 years in the combat/field duty stations I was up for shore duty. I was married but we made the decision NOT to have children until we were ready to. I turned down Hawaii to go the worst place in the world – Syracuse. I worked full time abd went to school full time for 3+ years as did my wife. It was a major sacrifice but we left Syracuse – her with her RN and me with a 3.93 GPA and a Big 6 career ahead of me. I started the accounting program at Syracuse with several black students – they were no where to be found by end of my junior year. I went to Texas and spent 30 years as a CPA there – passed the exam on the first try – I have known maybe 5-6 black CPAs during my career. Have met many black employees of the IRS and state agencies during that time. I love beating the shit out of them as much as I love beating the shit out of the white IRS people – it’s my job. I have no clue why I haven’t been around more black CPAs in Public Accounting – I really don’t care why. I paid my dues and and busted my ass and sacrificed – had children when the time was right. I lived in a very conservative and DIVERSE area north of Dallas (Plano) – had no white neighbors within 3 houses in all directions of my 4,500 sq ft house.

      I read your post and thought how I could help with this problem and then it hit me – there is no problem. No one is holding blacks back in the profession. The CPA exam is not racially biased – the large CPA firms do NOT descriminate.

      Maybe blacks just don’t like the profession. I’m not going to lose any sleep over it – it may just be a fact of life.

      Reply

      • You might be right on blacks not liking the profession.

        Or maybe this is an example of institutional bias.

        I think large firms do a lot to try to hire diverse candidates, but I’m not always sure the mechanisms are in place for those people to be successful. This could be true of white candidates as well, but someone who is a first-generation business person simply won’t know the ropes like someone who is the 5th generation corporate raider. That is a disadvantage. This context influences how people make HUGE decisions on academic and career pursuits and gets reinforced over time, making the cycle difficult to break.

        Education on long-term outcomes not just what’s in a book is what really makes a difference. I know that from firsthand experience.

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  2. Thanks for sharing, Gina. Would you say the people you know who aren’t black who passed it somehow were exempt from these same challenges? Part of what bothers me when I read some of these articles is they imply single mothers of other races work a full-time job, cook, clean, and study without even blinking an eye.

    Like you, I passed the exam while working in industry but I did most of my studying at home or while in-transit to work. I’m a big proponent of being honest about what type of studier you are and planning accordingly. Lots of people think they are self-studiers but really need the accountability of the in-class environment, but that’s a whole different topic.

    You’re right though that the swiftest path through this thing is before you have heavy work or personal responsibilities. As far as need goes, I look at it like this…if you’re in accounting you need it. I see way too many job descriptions with CPA preferred and I don’t want it to ever be said I’m less qualified for a position because of something that was in my control. If you’re going to go into the profession go all in!

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    • I disagree with that completely – I was working 14 hour days in the tax department at KPMG – had a brand new baby and doing reserves – still studied my ass off and passed….94 in Practice, 91 in Theory, 88 in Law and 82 in Audit.

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      • DTW – I’m not saying it can’t be done under different circumstances. I think if you were to have your choice, you wouldn’t want to be studying with so much other stuff going on. That being said, people have to play the hands they’re dealt.

        Reply

        • Hi Eric, am a fresh student in the accounting field. But just two months after starting, every black I meet tells me to forget being an accountant because I want get a job. My resources tell me the field is in demand. What should I believe

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          • Rita – I believe there is still a lot of value in getting smart in the accounting field. There are also so many paths, so I’m not sure which exactly your contacts were referring to, but if you’re interested in the subject, I would say go all the way and don’t let anyone get in your way.

  3. EB, no the non white folk that I know who passed the CPA exam also did it while working in private industry and one was also not working.

    I agree with you 100% that if you are going into the profession go all in and get the credentials whether you need them or not. I will never forgot being at a doctors office and telling the black female doctor that I was going back to school to get the classes needed to become an accountant. She said you are going to take the CPA exam right, and at the time I thought first things first let me get the classes out of the way and then I will see how I feel, but she said if you are going to be an accountant, you BETTER get certified. She said I should strive to be the best in my field and now I understand why she said that.

    Great post by the way!

    Reply

    • Let me know how that works out for you. I been having a struggle in the accounting Arena as a black African American male. I have two more classes before I finish line bachelor’s and be going for the CPA as well. But I wanted to test the waters as far as like working in the accounting game since I’ve been working in Hospitality for a few years and I’ve got me some jobs in accounting but not through the company itself or through a temporary agency. Companies are fine with black men working through the temp agencies but they will not hiring black men outright and their companies at least not here in New York, from what I’ve seen within the hospitality industry, Simon cycle through a Temporary Agency, I don’t see any other person like me in the department. These companies always have openings advertise on websites. I also experienced having phone call interviews with some of these companies and they are impressed with my resume and my interviewing skills knowing my craft. When I get face-to-face with them for an interview the whole attitude changes

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        • DTW- I do believe you need to do what you need to do, but EB is correct. I am an African American accountant who is working on attaining his CPA. I once wore a hoodie to work to do taxes on a Saturday. I put on the hood and put in my headphones, and I went to work. I had one of the partners tell me that even though culturally, I am inclined to wear hoodies, it isn’t appropriate. My point is that even though you were unaffected by the lack of African American presence in the work place, that does not mean that a lot of people are unaffected as well. Moreover, it’s not okay to just lump all African Americans into a “just deal with it” pile. There is something to be said for having someone that looks like you in leadership, someone you can aspire to be like. There is something to be said for having someone that understands you culturally at work. You spend the majority of your life at work…the majority of people want to be comfortable and “feel” that they fit in. That’s the point.

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  5. Oh, my gosh, the single mother quote just got me going. As if children raised by a single mother are somehow less likely to succeed than others. This just kills me. Oh, by the way, I raised two very well educated young women alone. One is in medical school. Children of single parents can do quite well, thank you.

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    • Haha Your second-to-last sentence just reinforced the common ideology that the medical field is “sexy.” Congratulations to you; parenting alone is not an easy task.

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  7. There are a couple of reasons why the CPA profession is
    lacking black talent. The first and most difficult to accept is the fact that most black college students shy away from the rigors of the accounting discipline. I have taught at several academic institutions and the reality is that our students simply do not want to put the work in to obtain a degree in accounting. In almost every class that I’ve ever taught, the
    black students almost ALWAYS were the lowest performers. I can hang my hat on that. Being black myself, I know we are capable of performing, but most of our students just do not want to put the work into the major. Most would-be accounting majors switch into a perceived easier discipline (e.g., management or finance) because they complain about how “hard” accounting is.

    The second reason blacks are lacking in the CPA profession
    is just simply due to lack of exposure of the profession to blacks. Like you said, the CPA profession is not glamorized like medical and legal professions. But in addition to that, many of us blacks have not grown up realizing the value of the CPA. Many white students have parents, grandparents or other associates that own businesses and thus utilize the services of CPAs. Because the black community doesn’t have enough black-owned businesses, we typically do not need or seek the services of a CPA.

    This, in my opinion, is the real reason why blacks are severely underrepresented in the profession.

    Reply

  8. I appreciate stopping by and leaving a comment. Couldn’t agree more with the statement on exposure being an obstacle to having more black folks pursuing accounting, but I’d like to challenge the former theory on shying away from rigors of the accounting major.

    It sounds like you’re saying these low performers in accounting turned into overachievers in one of the “easier” disciplines. I would expect that low performers in one area will remain low performers in other areas, especially if closely related like management or finance in this example.

    I also think more professors can do a better job of making the professional benefits tangible up front and explain why knowing how to produce a cash flow statement would ever be useful.

    At the end of the day, it’s probably not one thing we can point at but I’m still willing to put in work to try to change it!

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  9. No, I’m not saying low performers in accounting would be overachievers in another discipline, but at the same time, a low performer in accounting doesn’t necessarily mean that said student will be a low performer in another business discipline.

    As you know, in order to be a performer in accounting you have to have a high degree of motivation. There has to be something that motivates and encourages the student throughout the curriculum. Be it they are working towards CPA status, or they are genuinely interested in the discipline, there has to be something that keeps them going.

    My point was simply that we are under-represented in many upper-level accounting courses, but there is usually considerable black representation in management, marketing and general business (and mostly because of the perceived ease of obtaining these degrees). When I ask students why they don’t choose accounting as a major, the most common response is that it’s “too hard.” But the reality is, they’re right…accounting is a difficult major.

    I used to work on a task force to approach this very topic we’re discussing, how to get more blacks interested in accounting. I can say that the accounting majors at most institutions tend to be the best of the best students that institution has to offer.

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  11. I don’t generally like to ask questions I have definitive answers to. But to answer your question, I don’t have the latest numbers on NBA demographics but I do know it’s mostly black. This too is probably the result of many factors, including lack of early exposure in favor of other sports. Again I don’t have the numbers but I think this is changing, or at least the # of hispanics pursuing it. Can’t say the same for blacks in accounting.

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  12. Well I just graduated with a 3.8 GPA in Accounting. I also accepted an offer at a top 10 firm prior to graduation. Oh and I am scheduled to sit for the first portion of the exam in 2 months.

    -CPA to be!
    Thanking God in advance 🙂

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  14. I passed the CPA exam in 1988. It was 2 1/2 days back then. I was the only black accounting student in my college classes. I remember what one professor told us all. If you want to be an accountant, keep at it until you have passed the CPA exam. If you don’t, this is what will happen to you. When you go out into the world and socialize, people will always get around to asking you what you do for a living. When you answer you’re an accountant, the next likely question will be, “are you certified?” If you are not, the first two words out of your mouth will always be the same, “No, but………” What you say after the “No but” will be all sort of reasons and excuses. I never wanted the professor to be right about me, so I passed the CPA exam and I’ve never had to say, “No but.” I’m in the tax business, and I’ve watched many of my client’s children grow up. I’ve told that story to everyone of them that asked me about wanting to be an accountant. I hate to say, there have been no black children who have ever asked me about being an accountant.

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    • Thanks for sharing, Glen. I never thought of it quite like that, but I completely agree with your professor. I hear the excuses all the time.

      I’m wondering what the demographic of your client base looks like? It’d be hard to prove but I’m still thinking being in the presence of an accountant and understanding what accounting is all about are two different things. General exposure would be a good place to start for many though.

      People have so many connotations associated with the word “accountant”. I had a perfect stranger recently tell me that sounds boring when hearing I worked for a CPA firm. He didn’t even think to ask what does it mean to be a consultant at a CPA firm or something demonstrating some ability to go beneath the surface. I hope I get to see a day when that’s not the case.

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  15. Black accounting students are looked over. They are not appealing to hire. There are thousands of black accounting students that make it through but can’t find an internship and are stuck with a degree that isn’t worth a dime.

    Reply

    • That seems like quite the reach on the degree not being worth a dime. I’d be curious to hear more about the “not appealing to hire” point you mention.

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      • Black people are not appealing to hire because of the media. Because of what is in all these music videos those black people are the misrepresentation of what all black people must be like. The degree is not worth a dime to a poor black person with no connections whatsoever.

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        • Your argument doesn’t make sense. By logical extension, if the problem is in the perception of black person and not the degree, then that could be said for ANY black person with ANY degree. No?

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          • You do not appear to be curious to know the answer to your question. There are multiple answers and mine cannot be merely be discredited at the whim of reality check. Because the reality is that blacks are passed over mere secretary jobs for accounting firms, law firms.. because they don’t fit in. But why don’t blacks fit in?

          • I just don’t think your point holds water because the argument can be made about any degree in any profession is not specific to accounting. By that reasoning no black people should go to college and get any degree.

          • Yet somehow you agree that the single parent is an ok argument. That same argument could also be generalized across all fields.
            I have a question for you now,
            Does it really matter that there are few black CPAs around?
            Should this even be a question as long as a person is doing something they want to do, enjoy doing regardless of skin color?
            I personally struggle with being a black accounting student and often when I walk into an interview, I can tell the first thing that they see is that I am black. I can see their surprise because they are not used to a black person writing such educated cover letters and resumes. Because of what has been misrepresented to them through the media I have taken them by surprise. Some of them do not bother to hide their surprise and for the most part I do not care because I am just there for the job opportunity not to gain enemies.

            Also if a student does not get job offers during or after their degree pertaining to their field, what makes you think all of them will try to continue to advance in their fields?

            An issue that has plagued my mind for months now is what will I do will I graduate in the spring. Should I go to graduate school to get a mac to sit for a certification exam or should I switch fields?

            Oh and to touch on your last statement, my answer is maybe we should not go to college because the fruits of labor are just not there. A black college student has about the same chance of getting a job as their white high school drop out counterparts. And when we look at statistics like that it is very unsettling and makes it feel like a college degree is worthless and is not worth the paper printed on.

            http://thinkprogress.org/education/2014/06/25/3452887/education-race-gap/

          • I’m not sure what you think it is I agree with about single parents but I’ll say this. That double standard you speak of is part of living in America…have you read the book I mentioned? I think it will give you some perspective on this topic.

            What you need to ask yourself is what prospects does the black student without a college degree have (also illustrated in the article). The point you make is also a bit misleading since it references an Associates degree as opposed to a Bachelors.

            I’m not saying the disparity is right. What I’m saying is if you think the odds are against you, you can try or not try. Only one of those gives you a chance to succeed.

          • And I’ll tell you something else, I’ll take a staff accounting job any day of the week. After all you have to start somewhere.

          • Black people are underrepresented in the entire business field. And I know that is not a coincidence. Like i said before a black person graduating with a degree in accounting with no connections just don’t get selected. And sometimes just for some of the unappealing qualities that some folks seem to have that are mistakenly generalizing entire groups of people. If there are few people that can and will back you up then I am sorry it just makes it more difficult then it already is. So far social networking is a nonexistent joke because people do not like to share there experiences from their fields. When I try to social network I ask about experience not for a job. Oh the response I would get if I had ever asked about whether or not they knew a company was hiring.

    • Oh my God! Thank you for saying that. Everybody talking all this mumbo-jumbo in this text but they’re not getting to the root of the real reason why blacks are not represented in the CPA profession. I just explained in a previous text it is the may think that I am going through right now although I have the qualifications and experience employers are not looking to hire black men and dark black man at that.

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    • spannu – comments like yours really bother me – mainly because they are BS – I have been heavily in volved in recruiting over the past 30 years for both KPMG and PWC and couldn’t disagree with what you said less.

      Is this your “take” on it – your opinion – or do you have some solid proof to back up your claims?

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  16. Why are there so few black accountants? Because of history and through no fault of their own, many Blacks have attended school systems that have left them unprepared to succeed in a difficult and challenging college curriculum like accounting. Even with a college degree in accounting, it’s difficult to get hired by a CPA firm. The firms are very selective. If a Black kid does make it past those obstacles, they go into CPA firms that have a very different culture and their CPA colleagues are not always welcoming. What can we do? Introduce K-12 students to the profession, and teach differently so that all students learn how to succeed on exams and in business. CPA firms need to provide support to schools for these efforts and develop inclusive work environments. I am a Black CPA and an accounting prof (with an MBA and a Phd). I grew up in an underprivileged home and with intervention was able to be successful in our profession. The intervention was a challenging college preparatory high school curriculum that included accounting. What do I do? Participate with my state CPA society to introduce the profession to high schoolers, teach students to succeed academically at my university, support the local NABA chapter. Of course universities have always taught students how to succeed, but teaching someone from a poor k-12 system requires a different approach.

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    • I like those ideas and have incorporated some myself with the exception of being involved with the local NABA chapter. I have to imagine some states handle this better than others. What state do you live in? Do you see others doing the same or are you fighting a one-person battle? I know my firm is trying to do more of this but I’m the only black person involved (there are some hispanics). And I think that’s the catch-22 of the whole thing. If we can’t get more black students in the profession we can’t really get more black role models in the profession…

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      • I live in Michigan. Definitely NOT a one person battle. KPMG PhD project supported me in getting my PhD. The PhD project has made huge gains but there’s still only a couple of black accounting profs in the state. My state society (MICPA) is very active in this arena. Also NASBA (National Assoc of State Boards of Acctng) is making efforts to improve diversity in our profession. 🙂

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    • I agree with MM. I was an exception when I graduated undergrad and each and every big 4 firm wanted me as the token on their staff. The culture was a shock to someone like me. In my case, I did not pass the exam until leaving the big 4. I was too busy trying to keep up with my non-minority coworkers. Though, I eventually passed the CPA and went to another big 4 firm. I also agree that those that participation is key. I have been on recruiting trips with big 4 firms and our younger folks need the tools and education to know how to be successful.

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  18. You may find this hard to believe, but I agree with the individual saying that it doesn’t make sense to go to an ivy league or an expensive school to study accounting. It just doesn’t make good financial sense. Think of it this way: what is the best post-graduation job an accounting major at any institution can hope for? That would arguably be a staff position with a Big 4 accounting firm. So a student would pay ivy league tuition (more like incur ivy league debt) at the undergraduate level to be put
    into a starting class at a Big 4 firm with state school graduates. It just doesn’t make sense. Another reason is that unlike many other professions, the accounting profession has the CPA as the great “equalizer.” So even if a student went to a prestigious institution, it really wouldn’t get them any further along than a state school graduate.

    If a student is seriously considering accounting, I’d tell them to save some money by attending a state institution and passing the CPA exam. That would make the most financial sense in these times. If a student has gotten into a top-tier school, I would discourage them from studying accounting; I’d encourage them to study something more liberal like economics perhaps. Paying top-tier prices for an accounting degree is not warranted IMO.

    There is a reason why the ivy league schools don’t offer accounting as an undergraduate major. Food for thought.

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    • You can make the financial argument for any major at an ivy league, especially when you start talking about the history/philosophy major types. I don’t completely agree with the idea that the ivy league degree doesn’t you any further than a state school. I’d argue, just like with grad school, gaining access to the network of an ivy league school costs money. That matters in various contexts but the most important one is if a student decides to change careers/companies early on. Academic pedigree will matter. I don’t think it should necessarily, but I don’t call get to make those decisions.

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    • Best undergraduate accounting programs are:

      University of Illinois
      Brigham Young
      UT – Austin
      University of Pennsylvania
      Indiana University

      My opinion

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  19. I enjoyed reading your article and I too have studied the history of Black CPAs and why more blacks are reluctant to pursue a career in accounting.

    I have been in accounting for 20 years, worked 10 years in public accounting, and have been licensed as a Public Accountant (LPA) for about 3 years. I was blessed to have gained an abundance of my experience working at a black-owned CPA firm, which have me the courage to start my own practice about 7 years ago.

    I have never correlated my challenges of being a non-CPA with being Black, not to say that such a double standard doesn’t exist. It’s just for me, I’m too busy being myself and being true to myself to worry about whether others’ perceptions about my professional acumen (or lack thereof) is attributed to me being Black. I have more to say about that, but I will reserve that for another time. Great topic, though.

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    • That makes perfect sense to me. I tend to feel the same but I do know there are some out there who get distracted by the game being rigged against them instead of trying to beat the odds.

      Would be curious to here what advice would you give your old self starting out both as a staff accountant and as one looking to start their own practice. I’m sure both would be beneficial to some of the folks reading this.

      Reply

      • Wow, it’s interesting in that you’re the second person in a week’s time who has asked me to offer a retrospective, so to speak. Perhaps God is trying to tell me something.

        Anyway, to answer your question about what I would advise my old self starting out in the profession is this: Diversify your accounting skill set. Seek not to be an expert in all areas, but to be proficient enough to know how the accounting function is relevant to business operations and why it is relevant.

        My advice I would give my old self starting my own practice is this: The public accounting profession is rapidly changing. Don’t follow the footsteps of the baby-boomer generation of CPAs practicing public accounting. They’re set in their ways on antiquated methods on how an accounting firm should be ran and as a result, they’re losing relevance and precious professional value in the eyes of many clients. Find CPAs who are looking to revolutionize the (C)PA accounting practice and bring their clients and staff in the 21st century by going from compliance to reliance, taking accounting and tax data and making it relevant and engaging to clients’ businesses and personal finances on a proactive basis. Look to align with revolutionary professionals and consultants such as Jason Blumer, Ron Baker, David Maister, and Edi Osborne. Earn clients’ respect by being accomplished in something besides the ability to pass a test. And above all, align yourself with people who share the same core beliefs as you.

        Hope this helps.

        Reply

        • That’s great. One of the next things I’ve been thinking about doing for this site is having people like yourself share these exact types of tips, possibly in a video chat, maybe audio, or just written depending on what people would be open to. Appreciate you sharing here and look forward to more discussion.

          Reply

          • I would be open to such opportunities. Let me know if and when you would like for me to participate.

  20. This is exactly why I stopped participating with black organizations such as NABA a long time ago- mainly because they do not show black accountants how to TRULY empower themselves through entrepreneurship. Like you all, I too read Dr. Hammond’s book on the history of black accountants, and one thing that was painfully clear was that our accounting ancestors understood the value of entrepreneurship. You’d think an organization like NABA- which was founded by black entrepreneurs- would continue this legacy, but no, like most other “black” organizations they have become corporate dog and pony shows who are content with promoting economic dependence on “big name” corporations to their members. The focus of these organizations have been too hard on “finding a job” instead of “creating jobs.” I divorced myself of these organizations years ago- after I finally woke up and saw the light.

    On top of all that, the CPA is losing its luster in the marketplace. Don’t get me wrong- it still has value- but that value has been diminishing for at least the last decade, IMO. Any time you see entry level accounting postings requiring a CPA, then you know the value of your certification is diminishing. We have the AICPA to thank for that- another joke organization I divorced myself from as well.

    Reply

  21. Given the above is it fair to say there exist an strong concerted initiative to hire black CPAs?
    I am curious is being a minority/black with a CPA serves as a door opener?
    If so with which companies or specific accounting field is there a demand?

    Reply

    • It’s fair to say firms are saying there is a strong initiative to do so. I would say yes it’s a door opener because in all honesty I personally don’t see it very often. Public accounting firms will likely find the designation more attractive since it is required for some of the work. Industry jobs will also find it attractive but value of CPA may be a bit less.

      Reply

  22. I think there is a very simple reason why there are so few black CPA’s. The CPA exam doesn’t have an affirmative action policy. It is color blind, either you can pass it or you cannot. The NBA is 90% black. Why? Because blacks value that as profession. Not enough of them value education and excelling at it.

    Reply

    • Unfortunately there is some truth here. The overwhelming majority of blacks in business schools are either majoring in management or marketing, definitely not accounting. There is a reason, and I addressed it on this site several years ago. It’s an inconvenient truth.

      Reply

    • “her parents and siblings lacked the formal education to support her academic goals.”

      What formal education is required to accomplish that???? That is a total copout! An excuse factory can surely provide the support and motivation to have their kid do well in school.

      Reply

  25. I have a BBA in Accounting I earned 3 years ago. I was able to procure clients but not an accounting position. As a result, I am self employed out of necessity. My income is sporadic and this is not the path I would ideally have taken. Over the course of this past year, I was able to acquire 2 Accounting Clerk positions through a temp agency and finally a position as a Staff Accountant through the same temp agency. I was then offered a job as an Accounting Clerk from the company who hired me as a Staff Accountant because the Staff Accountant position was being phased out in place of an Accounting Manager position. They were looking for someone with a CPA license to fill the role. I declined and trained the newly hired Accounting Manager for the position.

    I live in Ohio and meet the requirements to sit and obtain my CPA license because Ohio allows self-employment to count towards the experience requirement and I have the necessary credits as well. My problem obtaining the CPA license was and continues to be the money needed to pay for classes and the exam. I do not want to take the exam without taking classes first. I do not know any other black accountants and I definitely do not know any black CPA’s, but I imagine, black or otherwise, the financial outlay required to prepare and take the exam are barriers for other people besides myself.

    I believe that this basic barrier is constantly overlooked. I intend to provide scholarships for CPA exam preparation classes and exams to blacks based on financial need once I am financially positioned to do so. I believe that this will help far more than reaching out to people who can afford to do it but choose otherwise. Incidentally, I came across this article while searching for financial assistance for paying for CPA exam prep courses to no avail.

    Reply

    • I’m sorry to hear about your experience with your past company. I went through something where I ended up training someone to take the position I wanted, but I was able to stay with the company still. I can only imagine the frustration you felt from that.

      With respect to courses, they will cost you some money, but there are some affordable options. I’ve heard that Wiley is affordable. The other thing I often tell people is to see what the local community colleges offer. They still cost money but not as much as many of the alternatives out there.

      The best thing I can say is to plan ahead (I know it’s a sacrifice) and make sure you take the studies seriously so you only have to take it once.

      Reply

  26. I really enjoyed reading this blog. Many of the responses are very interesting. I spent 8 years as a State Regulator in the State of CA after receiving my Bachelor’s Degree in Accounting. I am currently studying for the CPA Examination. A couple of my closest friends have already passed the CPA exam, so I hope to pass in the near future. What I have found is that obtaining an opportunity at in the accounting field is very difficult without a CPA certification or personal connections. This definitely has a lot to do with race. But, the market for employment in general is very competitive. With that being said, the CPA certification has always been an attractive profession in my opinion due to its high correlation with high level executives and successful entrepreneurs. The black community definitely undervalues entrepreneurship. That’s where the under appreciation stems from. Congrats on your hard work brotha.

    Reply

    • Thanks for showing some comment love. I think your point about the job market competition is spot on. That’s exactly why I felt like I needed to pursuse the CPA. Hopefully, you can slay this beast in one shot. My advice would be to buckle down and sacrifice short-term leisure for long-term benefits.

      Reply

  27. I passed my CPA exam in 1973 and I think there were about 150 to 200 black CPA’s in the United States. I worked for 4 years with Price Waterhouse & Co on the audit staff. Long hours, weekends were par for the course. I studied for the exam evenings, weekends, and took a coaching course. I did what was necessary to pass. I was the only African American on that staff of 75 for the 4years of my tenure there (Stamford, Ct.) Racism? Absolutely, it was understood by me that there were certain jobs that I was not going to be assigned to, others were okay. I got those jobs that whereby I was acceptable to those clients. It did not faze me – because I went there seeking knowledge which I definitely received and I am very grateful for having the opportunity to learn what I knew not.

    But I feel greatly that the reason that there are so few CPA’s is related to the number of African American business’s. We must increase our business class among African Americans because simply it is not an option, never has been, it has always been a “requirement” for every community to have its own business that will sustain itself. We build more churches in our community than any other community in the US. – why? Because the requirement to have a solid class of businesses in our community is neither promoted, encouraged, or discussed as a key ingredient in our community. In reality, the African American focus should be on :job creation” not jobs. It is job creation and its promotion, implementation, and development that will propel us forward and upward. Create “silicon valleys’ in the African American communities ie create idea and thinking centers, have venture capitalists and money people available to finance these potentially profitable ideas within the African American community. If we can do that, I bet that the crime stats will go down, minds will be challenged to produce, and sports & entertainment will take a nosedive. Entertainers and Athletics do not build civilizations – they entertain the builders of civilizations. Increase our businesses and we will see more CPA’S, Architects, Engineers, Corporate Attorneys, etc. In summary, we must “go for self” if we continue to fail to grasp that then we must accept our lot – being on the bottom of the barrel. Additionally, the most out of position individual in this US society is the African American male – this is no accident; this is done purposely. Kill the males in any society and you will have greatly weakened that society and make it dependable on other societies. The Killing does not have to be literal, just kill that mind by altering it or infest it with data irrevelant to the essence of that person and you have an effective killing. We must concentrate on getting this African American male back in position to lead and to take on greater and greater responsibility for himself, for his family, for his community, and for this country. This is how we will turn this around.

    Reply

    • I appreciate the thoughtful post and you sharing your experience. On one hand, the thought of having self-contained Black communities certainly seems like it could satisfy creating more demand and supply for Black professionals. On the other hand, I’d like to keep pushing for the integrated version of this (as naive as it may be), not move toward the modern day separate but equal. I feel like in the instances where we get this whole equality right, the results are better for everyone. It’s unfortunate that we don’t have more examples to show for all the effort put in so far.

      Reply

      • There will never be equality- blacks need to OVERstand that.

        The man is correct- building black businesses is the only true way for success. Integration is NOT the answer because whomever you’re integrating with has the true power to determine your future.

        Building black-owned and controlled businesses is the only way to go. Chasing the illusion of inclusion is one of the reasons why blacks have nothing today.

        Reply

  28. This is a great article and even greater discussion. Someone found this for me because they have doubts about the exams integrity since I’ve failed a part for the 2nd time with a 73! I have 2 parts left to pass and I’m an Enrolled Agent (EA).

    I’m trying not to attribute the low rate of CPA representation to race but you can’t ignore it. All of the financial and/or commission related industries have incredible nearly insurmountable barriers to entry; which most of the time mean going through Euro-American (white owned) firms to get your years of experience to get licensed. The CFA, CAIA, CFP, Series 7, Real Estate, CPA all require you work for someone else before getting in the game. I look on the websites of these firms and wow…you’d think Euro Americans were the only ones on the earth. And don’t give me this “you need experience to protect the public” crap. Because we’ve been experiencing Accounting /Securities fraud so frequently lately, it’s become as cyclical as recessions.

    In my final semester of undergrad, I interview for an Internship with a partner of a firm. The follow up letter after the interview said “they selected another candidate and they’d keep my name on file and/or refer it to other firms in the industry if positions became available”. I went to the career center of my school a month later and guess who had 3 staff level positions open? Do you want to guess if I received that follow up call encouraging me to apply or that they’d openings?

    I agree with Mr. Butts. I have a Masters in Taxation and while in both undergraduate and graduate studies my Euro American peers were already in firms knocking out that experience requirement. Not one non-white during undergrad or Grad was employed by a firm while completing their studies. These were good regional universities also. I won an Accounting scholarship on the grad level from my respective state board of Accountancy and that was still not enough to land me a job with a firm.

    I think a lot of African Americans see the writing on the wall and go government or corporation because if this is what’s to look forward to than what’s the point. I on the other hand gave up on working for a firm and decided to build on my EA. I proved that I can pass this thing but I have more confidence in myself to pass and expand a practice than I do to get hired and treated fairly at someone else’s.

    To DTW, I served in the Army. That’s how I paid for my undergrad in Accounting. You can’t tell me you didn’t receive flexibility to receive off-time to study. CPA firms are more apt to mentor or take under their wing certain candidates over others if you know what I mean. They’re going to see you more as potential offeree of partner; whether I have more buy-in money than you or not. This is to preserve the face (pardon the pun) of the profession. The bias is still not enough to deter me though.

    Reply

    • Thanks for sharing your experience. Your story about the career center really caught my eye. I don’t know if this behavior is to be “polite” or what, but I REALLY wish there was more transparency from recruiters. If you think enough of me to bring me in for an interview, I’d hope you think enough to tell me where I fell short in the interviewing process. I’ve only really had that once, and that was when I interview with Johnson and Johnson coming out of undergrad. The “explanation” was kinda bs but it was better than nothing. That was part of what inspire the cartoon in this post https://ericpbutts.com/sense-of-urgency

      Reply

    • Welcome to the real world. Non-blacks don’t really want too many blacks working at their firms. They’ll hire just enough blacks to keep you on the treadmill waiting for an opportunity to open up at “their” firms…all the while you are not focused on building your own enterprise.

      I tell black accounting students to start their own accounting firms. Why not? Why is the focus always on using your talents to work for someone else? Chances are you’ll be doing the same damn work, expect you can set your own hourly rate and can choose your industry, clients, locations, etc. Sure, there’s more risk involved, but you know the risk/return relationship.

      My advice to you would be to obtain your CPA then start your own firm servicing your own client and calling YOUR own shots. The ice is not colder on the other side, trust me.

      If you just absolutely MUST go work in their firms, my advice would be to do so as an independent contractor (1099). That way you are at least billing what you think you’re worth.

      Black entrepreneurship is the ONLY way. Don’t let these corporate blacks tell you differently. Think about it: it takes a LOT of energy, hard-work and Talent to be a successful CPA or consultant. Why spend your prime working years enriching the partners when you can capitalize on the marketable talent that people will pay you for?

      Start your own accounting firm. You’ll be glad you did.

      Reply

    • I had a conversion issue when I changed hosts. It got botched when I left the third party comment system. I know it looks like I’m talking to myself in some places…disappointing to say the least. Aside from that, I think they’re still all there.

      Reply

      • If they’re there, they’re not showing up. I remember my initial comment on this discussion topic and see that a lot of the other posts are missing.

        Reply

  31. Thank you. I literally just read the article referenced in your post before finding your post. Frank Ross himself is Black and it appalled me that he would say that miniorities are single parents so that’s why there are less of them here and not obtaining their CPA. I actually found that article from a college paper written about why there are not more women and miniorities in Accounting. It is pretty bad and based on cultural stereotypes. It spoke of Black English which was developed from slavery time vs Standard English and that Black people using Black English at work is bad for their careers. And how Hispanics deem unexplained happenings/events to God and they don’t trust people. And how Asians are quiet and put their heads down.
    It is pretty bad….
    As a Latina CPA which is also rare, I want more diversity in the ranks. But we can’t solve the “diversity ” problem if we aren’t even on the same page. Here is the paper I referenced: http://digitalcommons.uconn.edu/cgi/viewcontent.cgi?article=1382&context=srhonors_theses

    Reply

    • Marie – I appreciate the comment and the link you shared. I was literally shaking my head at the part of the paper talking about minorities leaving the profession because of not being the norm. If that’s the standard, then you would see a mass exodus from corporate America altogether. Then I got to the sections on how Blacks dress, and now I’m convinced the whole thing is satire. Please tell me I’m right…

      Reply

      • Hello Eric,

        Stumbled on this site with a google search. Thanks for writing about this. I never knew we were so few. I am probably a unicorn at this point because I am a Black CPA in my own practice under 40.

        Some of the comments about exposure resonate with me. When was the last time you heard your father or mother say, “I have an appointment with my CPA.” or “The CPA called. Call him back about that decision you wanted his opinion on.” The Millionaire Next Door shows that Millionaires often encourage their kids to become CPAs; and CPAs often encourage their kids to become CPAs. In other words, there aren’t that many people from other racial groups who are becoming CPAs – but because most CPAs and wealthy people are not Black….you get the idea. I know a CPA whose CEO father offered him a cash bonus for each CPA exam passed!

        Also I agree with you that most people need to take time out to pass the exams. They are hard. When I took them, I did so between graduating in August and starting work in January. No fun for me, just studying….but glad I did.

        I also think some people I’ve met with Accounting degrees and the inability to get a job with Accounting firms have GPAs well below 3.5. There are not that many accounting jobs out there; if you think about it – how many accountants does a business need? All Accountants want public accounting experience so the firms get to pick and they usually have quantitative guidelines – 3.4-3.5 usually unless you went to a top school in which case 3.0 might get you in (but top schools have few of us anyway).

        Many people can get the degree (somewhere), but fail disastrously on the test because their degree was not that rigorous, or their grades were not high. These factors matter before you factor in their adult circumstances and very few people (all races) meet this criteria.

        Reply

        • Albert – I appreciate sharing your perspective and big respect for having your own practice going. I might suggest adding Xero to the repertoire but you may already have your hands full with Quickbooks and Freshbooks work!

          As far as this article goes, you hit it dead on with citing the experience companies want candidates to have before hiring them. Internally, one thing is said (you don’t need a CPA) but when you look at the promotions and the people that get hired from the outside, everyone seems to have the CPA and/or big 4 experience. That’s just the way it is. I don’t know the reason for the double talk but I think everyone would be better off with direct conversation on what the requirements of the job really are.

          I recognize this is wishful thinking to some degree but I’m trying to be a more optimistic person…

          Reply

  32. Hi Eric. Great article! The comments bring a lot to valid issues to light. I will definitely read the suggested book as well. I have met (and know) many black CPAs, so I guess that lead me to believe there was a decent ratio. As I thought about my own experiences, (I’m an AA women), I realized your point is actually very true. I have been the ONLY black person in the last two firms I’ve worked in. Granted, they were small firms. Nevertheless, it was a culture shock for me. I definitely felt in the beginning that I was misunderstood and that I didn’t have much in common with my peers. Once I put my focus back on my true purpose and goal, I had to learn to have tunnel vision and get through the awkwardness and get the work experience I needed. These are the survival skills you don’t learn in business school. In the end, I actually built some really strong relationships and learned a lot about my level of strength in the process. We all have more in common than we think. But I sometimes longed to have other minorities around, especially in leadership roles.

    I live in LA now and work with entertainers and there’s never a dull moment. I would encourage people considering accounting to go towards an industry they have interest in and start knocking down those doors. Volunteer, intern, work part-time- whatever it takes. I interned with PWC at age 30. (Yes 30 – life happens.) But I was dead set on working for a Big 4. Wasn’t a good fit. Smaller firms have given me a more well-rounded experience (in my opinion) and they seem to be more lenient when it comes to the strict experience requirements. I now work on my own and I’m currently taking the CPA exams.

    I think you make good points about the need for diversity in accounting education, along with mentorships for minorities in this field. It’s KEY. Without strong images and someone really explaining this whole process, it will always appear out of reach to someone who has never been exposed to the field. It’s hard, yes. But if someone Earlier on can share a game plan with you, the vision becomes clearer. The opportunities that come with having a CPA are wide and far.

    Again, great article!

    Reply

    • NM – thanks for much for the note. Your point about tunnel vision is key and I really like how you described the need to be focused on your industry. In many ways, accounting is the same across organizations, but there is something about working numbers in an industry you’re passionate about that makes it much easier to get up and go to work every day.

      Good luck to you on the exams, and definitely let me know once you pass because I know you will!

      Reply

  33. Spelling of sense as “since” in your article, do a MS Word search…

    How many Black CPAs are there in America @ 07/28/2017, Friday of the total CPAs, by number and percentage? What is your source? The AICPA?

    Of the estimated number of Accountants in America, how many are CPAs?

    Reply

    • Thanks for reading. You strike me as a guy who never makes typos, so I appreciate that. I don’t have the 2017 numbers, but may look at revisiting this article soon.

      Reply

  34. Thank you for shedding some light on this. I too am interested in the numbers as of date, but I’ll look into that on my own. I will say that your points are very valid. I am a licensed CPA officially as of yesterday. I think the lack of black CPAs is a mix of a few things.

    Like someone said, I think the first thing is the lack of influence. Although my aunt went to school for Accounting, I was actually introduced to it and the CPA through an Accounting course I took in high school by a non-African American teacher. She was a teacher, but she talked to us as students about her brother who has an actual CPA and I thought I like Accounting, I’m going to be a CPA. And since high school everything I’ve donr has been in light of that goal. I came into college gathering information for what I’m needed to become a CPA, but without the seed being planted I would have no idea.
    I think a lot of people associate Accounting with bean counting as that’s what it was referred to in the past and many people have no idea the kind of possibilities a major in Accounting opens up for you. You can be in managerial, financial ultimately be CEO or CFO coming from an Accounting background. Possibilities are endless and people do not know!

    The second thing I think contributes is the lack of finances. As you said, the best time to study for the CPA is before starting work at a public accounting firm. The first thing is in order to get into a public accounting firm you have to have the grades and that too may hinder is as African Americans. If you don’t get an offer from a company that will pay the CPA expenses then that means you have to pay them yourself on top of education if you didn’t get scholarships. It’s a lot of debt and debt is not attractive. So I think that’s also a deterrent.

    The last thing I think is that people don’t think they need it. If you can be a Staff Accountant without one or if you don’t want to make partner why spend the tine doing it? They don’t see the benefit. As I stated however, it’s very beneficial. I work for an Accounting firm now. I’ve decided I want to move to an Accountant role and what I have found is that the major corporations the Fortune 100 companies they want you certified. It’s more competitive now and just having a degree is not enough. I agree that if you’re going to make anything your profession shoot for the top! What cost you $4000 today can add $10,000 to your salary tomorrow. I am so glad you wrote this article because it’s something that I’ve noticed since I started my career and I work at a Big 4 firm. I am going to advocate the Accounting profession and the CPA to the generation of tomorrow. There’s much potential in the profession. A lot of open jobs and too many underqualified candidates.

    Reply

    • Thanks for such a thoughtful reply. I agree with everything you said. One thing, in particular, that caught my eye is you comment about debt. I tend to agree that people without unlimited resources need to be cautious about overextending with debt. That being said, we have to know when to invest in ourselves. Getting certified is one of those things but only if you’re committing to make it happen. If you go half effort then it’s a waste of time and money.

      Reply

      • Hi Eric,
        Sorry for the delayed response. I totally agree. Being a CPA is a lifetime commitment unless of course you intend to be inactive and it does require an up front cost and effort.

        Reply

  35. I’ve now read all the posts and so I had to come back. Another thing that contributes to the lack of black CPAs is the school systems. Majority blacks attend public elementary schools and high schools. These schools don’t offer courses for typical careers to give students insight into the choices they have available for their future. As I said I wasn’t introduced to Accounting until high school. I went to a public high school and actually that was the first year my school was doing the program. And I think the school systems fail us academically. We don’t receive the support we need in reading and math and these are necessities for Accounting. School systems also affect the quality of grades in college. If your high school doesn’t challenge you and prepare you for College how can you succeed especially in Accounting. I know my school had tutor programs which I actually tutored for at some point, but not every school does. I think the dialogue definitely needs to start much earlier than college. I would say as early as 7th grade. We don’t need to just ask kids what they want to be when they grow up. We need to show them what they can be.

    I am an advocate for entrepreneurship. I would like to start my own Accounting firm. I don’t think that without having a quality experience outside of the classroom anyone will be taken seriously as an Accountant and certainly not if you are African American. What we need to do is teach Accountants how to get the CPA go in get the experience and then start their own business. It’s okay to develop yourself, but just remember your goal.

    I plan to start my own business in the near future and provide scholarships and mentorship for students as early as 7th grade. Offer internships as early as they reach the age for employment to give them exposure. I would also like to provide CPA scholarships for exam prep and taking exams. Most importantly I want to make sure students have what they need to succeed academically. The early years really set the foundation. Studying habits and understanding need to start early. As for the person who said they separated from NABA and the AICPA I don’t think that’s the answer. We have to use the resources we have been given and let our voices be heard. Have you contacted or wrote to those in leadership about your thoughts and how they can be implemented into their programs? Those are national organizations and if we wish to change things on a larger scale those voices will have so much impact to reach a larger audience and really influence change. I started this search today and when I did, I discovered that the AICPA has a program called CPAs of Color. I didn’t know anything about it until today.

    Reply

    • I hadn’t heard of CPAs of Color until seeing it in your comment. I’ve been involved with NABA more frequently but feel like I can and should do more so I’ll check that out.

      Reply

  36. 5 years late on this conversation, but I am a black female CPA (passed exams in 2016, certified in 2017). I work in a Big Four firm and I am slowly seeing the effort to recruit diverse talent. I love recruiting on college campuses. Honestly, I did not make the best grades in my college accounting courses; but I kept pursuing accounting due to one of my professors’ doubts in my ability to successfully complete the major’s requirements. As I stated, I’m a CPA, worked in the Big Four for 2 years, working on my CMA certification, and the sky is the limit!

    Reply

  37. I know I am late to the conversation. I am a single-parent mom with a finance degree. I was a financial analyst maintaining a big budget by myself, but decided to obtain my MBA in accounting to sit for my CPA.

    While trying to find an entry-level accounting job now and coming from the budgeting and forecasting side of things, I am beginning to learn that many of the companies that I have applied for are understaffed with -I am sure- the budget to hire more individuals. Do you think the workload and over hours is because of this mindset of everyone is required to work over hours or because employers purposefully hire the smallest amount of individuals to maximize their other incentives? I was the only financial analyst in my previous job inputting, forecasting, ad-hoc/monthly reporting and other tasks to ensure the budget was presented to the board on time. It was a lot of work for one person, although my CEO stated that I was not understaffed.

    With the perspective and asking specific questions during my interview, I will most likely opt for a position with a regular 9-5- although they seem rare- however ensure I obtain my credentials because I find that I had to work so much harder to provide recommendations for the job that they eventually implemented after I left the company.

    As far as exposure to the field, I wanted to take the CFO route, however through research they stated most CFOs have their CPA. It was unfortunate that I had to go back to obtain my MBA to get the auditing and tax courses that I needed, however a mentor of mine that is an active CPA stated that it is the best thing to do. I am maintaining a 3.83 with a 6 year old right now. I know that the tests will be tough, however I have my order down taking FAR first and a lot of study strategies ahead of me. Positive vibes and mindsets ahead of me. It has to be slow and steady for me because I am a single-parent, but my daughter has been with me my whole college career and to be honest it’s the best motivation to decrease debt and get all the schooling out the way! I took a 2 year break between my BBA in MBA, however I will be finishing it up in August.

    Reply

    • Hi May – thanks for this. I think you have the commitment and all the motivation you need to get through the CPA exam.

      On the hiring practices, it seems like everyone is trying to do more work with less people so I feel like they try it to see if the team will “break” before they fill open requisitions or backfill spots from people leaving.

      Reply

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