Seeking Advice on Choosing a Timeline for My CPA Journey
I’ll be graduating this fall and I’m at a crossroads, pondering two options since I’ll be CPA-eligible by graduation.
Option 1: Take a few months off after graduation to focus on studying for the CPA exam from February to June and then look for a job in the summer after tax season.
Pros:
– I’m concerned about finding a job mid-tax season and juggling training alongside studying for the CPA exam.
– Being freshly out of university might make it easier to concentrate on my studies.
– I won’t have to juggle studying with a job.
Cons:
– I worry about the challenges of job hunting during a gap in employment and how to explain that to potential employers. I’d prefer to network during my final semester and ideally secure a job before graduation.
– It could be difficult to ask employers to delay my start date until June when I could be starting sooner.
– Covering the costs of the CPA exam out of pocket will be a significant financial burden. We’re talking thousands of dollars.
Option 2: Jump straight into a job after graduation and start studying after the first busy season, with my employer covering my study materials and exam fees.
Pros:
– I’d secure a job quickly, which would allow me to start earning money and eventually move out of my parents’ house.
– The employer would cover the hefty CPA exam costs, providing financial relief.
Cons:
– I’ve heard it’s common for firms to expect a two-year commitment if they pay for the CPA exam. I’m unsure if this means I’d have to stay with the firm for that long or if repayment would be required if I left earlier.
– I’m concerned that working full-time might delay my exam success since I know I’ll feel drained after long work hours.
I would love to hear your insights and personal timelines regarding your CPA exam experiences! Any advice is welcome!
One response
Congratulations on your upcoming graduation! It’s great that you’re already eligible to sit for the CPA exam. Deciding when to pursue your certification is a big step, and both options have their merits. Here are some thoughts to consider that might help you with your decision:
Option 1: Study After Graduation
– Pros: You’re right about having the time and mental space to dedicate to the CPA exam without the demands of work. Being a fresh graduate can also give you an edge when absorbing the material. Plus, coming in with your CPA will make you more competitive when applying for jobs after the exams.
– Cons: The employment gap is definitely a concern, but many employers understand that graduates often take time to study for licensure exams. You can frame it positively by emphasizing your commitment to completing the CPA and your focused study time. Additionally, considering the financial burden, you might want to budget for the CPA exam costs carefully or look into payment plans if available.
Option 2: Work Before Studying
– Pros: Starting your career immediately can provide valuable experience, networking opportunities, and financial stability. Having your employer cover the CPA costs can significantly alleviate immediate financial pressure, and many firms appreciate and support employees working towards certification.
– Cons: You’re correct that working full-time while studying can be exhausting. The repayment obligation for exam costs can vary by firm, so definitely clarify the terms with prospective employers. Many firms do require a commitment to stay with them for a certain period if they cover your expenses, but this aligns with the benefit of gaining work experience.
Additional Considerations:
– Networking: If you choose Option 1, you can still attend networking events during your study period. It might be beneficial to connect with firms and explain that you’re committed to passing your CPA as soon as possible.
– Personal Preference: Think about your own study habits and discipline. If you’re confident in your ability to manage studying while working, Option 2 might work for you despite the challenges.
– Future Job Opportunities: Some firms might express more interest in candidates who are already CPA eligible or actively pursuing the exam, so you might want to weigh what employers in your desired field prefer.
Ultimately, there’s no right or wrong choice; it’s about what aligns best with your personal circumstances and career goals. Good luck with whichever path you choose!