Jump to content


Photo
- - - - -

College = ponzi scheme


  • Please log in to reply
60 replies to this topic

#16 ARSEN

ARSEN

    Banned

  • ALL-PRO
  • 11,550 posts

Posted 18 September 2009 - 07:19 AM

Tell you what Arsen I will trade you 4 years of work experience for 4 years of college. It is a tough time to get a job right now. NC unemployment rate is around 10.7 percent. even the health care professions are slowing down in hiring. But atleast with the bachelors you have a better shot at a good paying job than I do.

You might need to look outside of NC I know I am going to DC for about a week as their unemployment rate is only 6.5%. You just to keep grinding and sooner or later you will find a job. Might not be exactly what you want but once the economy starts turning around you will be able to get what you want.


I am looking outside but so far no luck. Many companies need an accountant but they require at least 2 years of experience... something that I don't have. You are exactly right tho, I cannot be a quitter.

#17 Sameday

Sameday

    Member

  • NEWB
  • PipPip
  • 30 posts

Posted 18 September 2009 - 07:20 AM

I got degrees in Accounting, Finance, and International business management. I want to work for an accounting firm as an auditor but instead accounting firms hire some wackos who had 0 hours of work experience, 0 hours of community service, but they do have a near perfect GPA.


Where did you apply. What loophole? I had a degree in accounting as well.

#18 Happy Panther

Happy Panther

    Now even funnier.

  • ALL-PRO
  • 17,335 posts

Posted 18 September 2009 - 07:23 AM

College is an indicator to the market

On one level it says that you have the basic skills to go out in the world...i.e. you are upwardly mobile, can get out of bed in the morning, meet deadlines etc.

The better the college the more initiative you show. Why do you pick the guy from Princeton over the guy from idaho vocational institute? Because he WANTED to go to princeton and made it happen.

Bout a Bachelor's degree doesn't get you much beyond that. Its the bare minimum. Further education, networking and resume development are what gets you into a successful field.

As to the original post, yeah there are tons of jobs for which 4 years of passing out in the fraternity on Thursday through sunday nights is going to make you any better. And it is a shame that the free market has determined that the best qualifiers cost 45k a year. I loved Davidson but spending $120k over 4 years got me a job delivering pizzas in southpark. It took 2 more years of accreditation to find a job and 5 more years of grueling exams after that to rise to the level I want.

Having said that, my kids will be going to a good school if I have anything to do with it

Edited by Happy Panther, 18 September 2009 - 07:26 AM.


#19 Happy Panther

Happy Panther

    Now even funnier.

  • ALL-PRO
  • 17,335 posts

Posted 18 September 2009 - 07:25 AM

I am looking outside but so far no luck. Many companies need an accountant but they require at least 2 years of experience... something that I don't have. You are exactly right tho, I cannot be a quitter.


Arsen I thought accountants are in demand. Don't the big 4 hire loads of new accountants every year? I used to work for a big 4 offshore and they hired 30 new ones a year...

#20 ARSEN

ARSEN

    Banned

  • ALL-PRO
  • 11,550 posts

Posted 18 September 2009 - 07:30 AM

Where did you apply. What loophole? I had a degree in accounting as well.


You don't have to have a master degree to be a CPA in NC. You need 30 hours in accounting and 150 total credit hours. Business Law is considered an accounting class but most people don't know it. Principles I and II are also count toward your 30 hours. You need just 1 elective and you are golden.

#21 ARSEN

ARSEN

    Banned

  • ALL-PRO
  • 11,550 posts

Posted 18 September 2009 - 07:37 AM

Arsen I thought accountants are in demand. Don't the big 4 hire loads of new accountants every year? I used to work for a big 4 offshore and they hired 30 new ones a year...


Yeah, there are a bunch of jobs but none even gave me an interview when I applied. I applied to 20 different companies, including the big 4.
They hire people with near perfect GPA but who never had a real job in their life or they also hire master students who have 30 hours in accounting... just like me.

#22 Sameday

Sameday

    Member

  • NEWB
  • PipPip
  • 30 posts

Posted 18 September 2009 - 07:49 AM

You don't have to have a master degree to be a CPA in NC. You need 30 hours in accounting and 150 total credit hours. Business Law is considered an accounting class but most people don't know it. Principles I and II are also count toward your 30 hours. You need just 1 elective and you are golden.


I just graduated with my masters in august. That's not much of a loophole. Have you started your CPA? I just went through the same process of finding a job. Going to a bigger school to get my masters helped since recruiters were always there.

#23 Happy Panther

Happy Panther

    Now even funnier.

  • ALL-PRO
  • 17,335 posts

Posted 18 September 2009 - 07:51 AM

Yeah, there are a bunch of jobs but none even gave me an interview when I applied. I applied to 20 different companies, including the big 4.
They hire people with near perfect GPA but who never had a real job in their life or they also hire master students who have 30 hours in accounting... just like me.


Try Bermuda or Cayman. They are doing US work offshore and struggle to hire people from the US because accountants are so in demand. I think they would jump on a decent US resume.

#24 ARSEN

ARSEN

    Banned

  • ALL-PRO
  • 11,550 posts

Posted 18 September 2009 - 08:02 AM

I just graduated with my masters in august. That's not much of a loophole. Have you started your CPA? I just went through the same process of finding a job. Going to a bigger school to get my masters helped since recruiters were always there.


I'm not going for my masters, its worthless if I get my CPA. Also, I cannot start my CPA until I get a job in accounting because I need a year of experience before I can receive my license.

#25 ARSEN

ARSEN

    Banned

  • ALL-PRO
  • 11,550 posts

Posted 18 September 2009 - 08:03 AM

Try Bermuda or Cayman. They are doing US work offshore and struggle to hire people from the US because accountants are so in demand. I think they would jump on a decent US resume.


Yea, I will have to do it if I cannot find anything here.

#26 Sameday

Sameday

    Member

  • NEWB
  • PipPip
  • 30 posts

Posted 18 September 2009 - 08:17 AM

I'm not going for my masters, its worthless if I get my CPA. Also, I cannot start my CPA until I get a job in accounting because I need a year of experience before I can receive my license.


I was at the same point as you getting turned down by every firm in the southeast after my undergrad with 150. I went back and got my masters and passed all 4 parts and had a job with no problem. So I know from experience what helps.

#27 Ounce

Ounce

    Senior Member

  • HUDDLER
  • PipPipPipPip
  • 258 posts

Posted 18 September 2009 - 08:26 AM

It's only a scheme if you're an idiot and pick a BS major. If you actually pick a major that teaches you practical skills like Computer Science, Engineering, or say Accounting, then you'll have more than just a piece of paper when you're done. That being said, if you think a 4 year degree equals a job, where have you been for the last 10 years cause those days are long gone.

#28 Captroop

Captroop

    Pronounced, "Cat Poop"

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 4,801 posts
  • LocationNot Telling... CatofWar might find me.

Posted 18 September 2009 - 08:52 AM

College is an indicator to the market

On one level it says that you have the basic skills to go out in the world...i.e. you are upwardly mobile, can get out of bed in the morning, meet deadlines etc.

The better the college the more initiative you show. Why do you pick the guy from Princeton over the guy from idaho vocational institute? Because he WANTED to go to princeton and made it happen.

Bout a Bachelor's degree doesn't get you much beyond that. Its the bare minimum. Further education, networking and resume development are what gets you into a successful field.

As to the original post, yeah there are tons of jobs for which 4 years of passing out in the fraternity on Thursday through sunday nights is going to make you any better. And it is a shame that the free market has determined that the best qualifiers cost 45k a year. I loved Davidson but spending $120k over 4 years got me a job delivering pizzas in southpark. It took 2 more years of accreditation to find a job and 5 more years of grueling exams after that to rise to the level I want.

Having said that, my kids will be going to a good school if I have anything to do with it


Bingo. The best way I hever heard college described is that a college education indicates that you can survive college; i.e. you can work hard for four years, have drive and study skills. What's written on your degree is less important than the fact that you have it.

As far as what school you go to, in my opinion, that matters a lot less than your previous job experience. The two guys I know who went to Princeton, one got in on a Soccer scholarship, and the other cheated off me in molecular biology. I went to Maryland and I got no regrets. It's a great school and because I was in state, my education only cost $32k.

Meanwhile, I got a great job right out of school. I got it by connections (connections I earned by working part-time since I was 14 to pay for college). Connections got me the interview, but my degree qualified me for the job. So really I guess you need a healthy combination of education and work experience, you can't put all your eggs in one basket.

#29 Happy Panther

Happy Panther

    Now even funnier.

  • ALL-PRO
  • 17,335 posts

Posted 18 September 2009 - 09:07 AM

It's only a scheme if you're an idiot and pick a BS major. If you actually pick a major that teaches you practical skills like Computer Science, Engineering, or say Accounting, then you'll have more than just a piece of paper when you're done. That being said, if you think a 4 year degree equals a job, where have you been for the last 10 years cause those days are long gone.


I was very happy with a liberal arts school mainly because I had no clue what I wanted to do (even after I grduated). I don't think I would have liked to have been locked into an accounting job.

BS is also fine if you want to go to business/law/med school.

#30 guigrrl

guigrrl

    Who Dat?

  • HUDDLER
  • PipPipPipPip
  • 102 posts

Posted 18 September 2009 - 09:09 AM

From what I understand from my accounting friends, its hard for even seasoned accountants to find a job right now.


0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users

Shop at Amazon Contact Us: info@carolinahuddle.com