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Bowl Leader
Hey there!
I am a Masters Student majoring in Machine Learning. I am in my first semester and I am kind leaning to explore Data Science as well. Could any Professional Data Scientists help me out on getting started? What skills do I focus on? What kind of projects should I have on my portfolio?
I have tried looking this info out in the internet but its all overwhelming. Hoping to get some honest guidance here!
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I prefer green though
Thank you for your service
Additional Posts in Accounting
Happy Pride, all y’all 🌈🐠🐟🌈 out here!
Anyone want to sell me their CFE books ?
What are raise amounts or percentages per year?
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Maybe
Haha agree with this^^
Y’all really think starting your own firm has the most upside? Average Big 4 partners make close to a million dollars or more - some even more than that. Find me one sole proprietor making that much. Not saying it’s the wrong call but the “start your own business” mindset these days has people thinking that this is the ticket to wealth - not even specific to accounting
A partner at a larger firm is most likely to make more than a sole proprietor. That is their question. It was not which one would you enjoy more.
Starting your own firm has the highest upside. Making partner in someone else’s firm is probably second.
Risk adjusted yes.
It just seems crazy to me with how low paid public (audit) is through the SM role that this is the best path for money. All things considered is it really the most lucrative if it takes 15-20 years before you make any real money?
I think about this often. Especially with time value of money.
I have never made maximizing my earnings potential my goal. Many of my contemporaries have gone down that route and most have been squeezed out of their role while the rest have eventually burned out. Few have the combination of talent, effort, and dedication to reach their money goals. They also tend to realize after the fact that many lost respect for them by how they operate.
If making money, and not what I enjoy to do, was my main goal, staying in public would be my number one option. Truthfully, I have probably made more money by following my work desires than placing any emphasis on earnings potential.
100% agree. I have seen a couple of audit partners in a small firm (less than 100 total emp) that all they focused on was making more money. They burned soooo many bridges with staff and clients, that now when they are out and about people openly talk behind their back. We live in a small community of about 65k
Rising Star
If you make it to partner sure. If you don’t then probably not.
Rising Star
Nothing is an absolute, you could leave public to be an executive at JPMorgan or a successful Hollywood actor…. but for most people, yes.
It’s the straightest line with the least risk to get from a $70,000 college grad salary to $1M+ in annual comp.
There are only so many partners for reason, realistically do you have what it takes?
The lottery could maybe possibly be better
No, start your own firm.
Pro
No
I have believed for a long time that making partner in Audit is definitely the best way to make a lot of money in your career. If you just stick with it, you’ll make partner faster than in Advisory or Tax. It’s worth the grind, IMO.
Most money, no way. Being the CFO of a successful Fortune 100 company with huge stock options or investment banking equals most.
Most realistic way to make a large amount with wealth accumulation upon retirement in the field of accounting, yes!
Depends what you do with the money. Public accounting is better cumulative earnings in the long run nominally, but lags general industry until year ~10ish. Meaning, for like work in industry through early senior manager, you’ll be earning more if you work in industry versus public accounting. If you take that extra cash in industry and invest it and compound over 30-40 years, plus keep working past the mandatory partner retirement age at 60, you will 100% come out ahead in industry.
If you spend most of your earnings, then partner track in public accounting is more lucrative and will earn significantly more in the long run, so can have significant swings in either direction between your trajectory and longevity. If you’re destined for mediocrity with no aspirations for senior leadership and want the 9-5, better to switch to industry once you make manager.
Generally yes
depends on your risk tolerance. if you're in PA, your risk tolerance is pretty low so I'd say yes
Get into TAS
Depends. Safe path is to partner, if, and that is very market dependent, you want to grind it out and you continue to grow your book of busines. IMHO, based on a very narrow set of personal experiences of myself and a few colleagues - private industry with an equity position (iso/rso, etc) in an emerging or early stage enterprise that is ipo or acquisition ready will pay vast multiples in the near term. Think Microsoft back in the day but apply that to AI entities today. There WILL be massive upside but realize it will be for a limited number of people. There are other emerging industries as well but AI is the one in the spotlight now. Think verticles - AI infrastructure, security, energy supply, etc. It’s a risk/reward proposition and it can pay off if you do your homework and choose the best option that will work in your favor. Of course luck and market forces can alter the dynamic so you may need to make a move to another company if things don’t pan out. But you will gain great experience along the way. Ah, screw it. Just go the partner route :)