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I took about a year off. Then I had a change in heart after talking to friends in family. This is the (probably) the last important step in all of the hard work you’ve achieved so far. Finishing college, masters I’m assuming, landing a job in public accounting, and this is the last piece of the puzzle! If you could make it though all of that, you can do this too. I was initially not putting in 100%when I was studying, and then was getting more and more put off every time I failed. I decided that I needed to give it my all for at least one test to prove to myself that if I put in the effort, I was completely capable of passing. So I dedicated 6 weeks for REG, studied 2 chapters a week -one during the work week (2-3 hours after work) and then caught up on the rest over the weekend. Signed up for a final review course, and passed. That gave me the motivation to then want to keep going and finish the rest. It absolutely sucks at times but you just have to tell yourself that this is just temporary. Take a test, then give yourself a couple weeks off in between to relax and have a normal life for a bit. You can do this! :)
I just wanted to hopefully pass some wisdom so you don't end up a washed out boomerang like me or a lifetime senior like my revenue accountant friend.
People act like you quit public accounting that rainbows are coming out of your ass and it's all sunshine and lollipops.
Nobody in the real world besides getting your foot in the door for some recruiters check the box "Big 4" experience requirement is going to advance you and as much as people say you can be "successful" without a CPA - it depends on your definition of success.
If a 40ish hour a week job with routine and predictable tasks with a 100k+ salary is your final aspiration - you definitely don't need a CPA to be living like that.
Most people aren't looking 10 years down the line. By the time you're in your late 20s you're quitting the Big 4 from burnout and life will catch up.
Having a wife and a kid on the way lit a fire under my ass to maximize my career quicker before he's born. That means getting in a higher chair and middle management at a private held company as my end game... Think about the long term!
I rage quit my first Big 4 role because I got held back from my senior promotion and I couldn't pass the CPA (secondary).
It was a mistake because the real issue was despite being busy I really actually didn't give it my all to pass because I still struggled half assing it when "I had all this time" now.
I got my shit together though and passed. You just have to really commit and want it - and it's going to happen. I kept acting like I'd learn some things through osmosis like college... Nope. If you were a lazy accounting student (me) you've got to go back and relearn quite a bit. This test really does separate boys from men in terms of sheer study habits.
One more thing - don't let the exam put your back against the wall. There are other people who legitimately quit Big 4 because they can't pass. No, it's not because they're dumb it's not an IQ test. The variance about the amount of hours needed to pass is not so great 100-150 for FAR, about 100 for REG, 80 to AUD (more if you're in tax or non audit or never took an audit class in college), and 50-80 for BEC. The Elijah Watt winners need to at a minimum dump 150 for FAR even they're good accounting students. We are all in the same boat except for some of us 75 is a perfect score.
I've got a friend ex B4 who failed and gave up her CPA. She went to industry after 5 years of B4 as a senior revenue analyst and that's where she's sat since circa 2010. No manager title. No promotion. Enough compensation ranges to make her one of the most highly paid senior revenue accountants I've seen but the purpose of that is to lock you in from leaving (no other company would give you a raise at that point).
Don't be her. I have plenty of other examples. At the 10 year mark if you don't have a CPA - it legitimate will hold you back from progressing. It didn't stop me from getting into middle management, but if a controller job or C level is in your cards "someday" don't let laziness be an excuse.
Wow! I love to hear this, you did a great job.
This is very honest and excellent advice! Thank you!