Should I pursue a CPA (with my Economics degree) or apply for various entry-level financial analyst positions? I currently have 2 years of experience in an entry-level credit role, but I believe there are more promising opportunities in FP&A/FA.
Should I seek a basic entry-level role in financial analysis, or start taking Accounting classes to work towards a CPA certification? My current job allows for some study time, and I estimate that the CPA process would take about 2 years.
Additionally, if I decide not to pursue the CPA, would the Accounting certification (which entails 39 credits of Accounting classes rather than an associate degree) still hold value?
One response
It sounds like you’re at an important crossroads in your career, and both paths have their merits. Here are some considerations:
Option 1: Pursue CPA
Long-Term Benefits: A CPA can open up many doors, particularly in finance roles like FP&A and financial analysis. It’s highly respected and may enhance your earning potential and career stability.
Knowledge Growth: Taking Accounting classes will deepen your understanding of the field, which can be beneficial in any financial role, making you a stronger candidate.
Flexibility & Time: Since you have some free time in your current job, you’re in a good position to study for the CPA.
However, keep in mind the commitment that pursuing a CPA entails and think about whether you’re prepared for the time and effort needed over the next two years.
Option 2: Apply for Entry-Level Financial Analyst Roles
Immediate Experience: By jumping into a financial analyst role now, you can gain relevant experience that will be crucial for your resume. Each position you take helps build your skill set and network in the industry.
Potential for Growth: Even if the roles you apply for are entry-level, getting your foot in the door in FP&A or financial analysis can lead to more opportunities in the long run.
Assess the Job Market: Sometimes, it might be advantageous to see what job opportunities arise while you’re studying. You might find a perfect role that aligns with your goals.
Accounting Classes Value Without CPA
Taking additional Accounting classes (as you mentioned, 39 credits) can definitely add value to your resume, whether or not you end up pursuing the CPA. It demonstrates your commitment to the field and can help you stand out in a competitive job market, particularly for roles that value financial literacy.
Conclusion
Consider your career goals, your readiness for a longer-term commitment, and how you feel about studying while potentially working an entry-level role. If you believe the CPA aligns with your long-term aspirations and you’re committed, it could be worth the investment of time and resources. If you want to get into financial analysis sooner and potentially transition later, applying for analyst roles might be the way to go.
You may also consider a hybrid approach: start applying for entry-level analyst roles while also taking those accounting classes. That way, you’ll keep your options open and build experience simultaneously. Just make sure that whatever you choose aligns with your long-term career goals. Good luck!