If so why would you choose a career like that?
Did you just fall into being an accountant? Or did you decide to pursue a career as an accountant?
Share your stories here, as it would be interesting to hear from gay accountants.
Fall into being an Accountant? Yes, if you consider earning a BS and Masters in Accounting as well as being a Certified Public Accountant as "falling" into something.
Don't be retarded OP, of course I pursued it. In addition to making an extremely good living, I've amassed a considerable fortune because of what I do and have more free time to enjoy the good life than anyone I know.
Tell me how much do you charge an hour ?
I think being an accountant would have been more fun pre-computers-----back when you had to use those books and ledgers.....
I love stationary supplies!
r1 are you retired?
I did fall into it. I was doing the basic work of an accountant at a smaller company but not getting the pay. I had one of those useless degrees. Fun getting it but that was about all it was worth.
So I went back to school. I love it. It's not just sitting at a desk and typing in numbers to a column. It's planning for a fiscal year, assuring compliance, analyzing investment return, getting the best capital investment rates, etc etc etc.....
Plus I have to say I grew up in a dirt poor family. I do love the fact that I now earn in the six figures and am only in my mid 30s. I have made great investments. It sounds silly but I love putting on a suit for work. I love having a great office. I love having an assistant. I love that I don't touch the photocopier. The list goes on and on.
Good for you, R5. Poverty sucks and you seem happy.
Okay, now that we've heard from all of the gay accountants, can we close the thread?
See R1 some people DO fall into it, like R5
OMG where do people sign up to be an Accountant?
Barbra Streisand brother is an Accountant, and he has just as much money as she does!
[quote]I've amassed a considerable fortune because of what I do
Mary! But where did you learn to phrase that like a soap opera villain?
R1 isn't a true accountant. No real accountant brags about his or her money.
I chose it because I knew I would come out of college with debts and wanted to be able to pay them off, buy a home someday, live reasonably and retire. You know, the American dream. I'm in my 25th year (10 at KPMG, 7 at BDO; 8 at a subsidiary of AIG).
Many of those dreams became nightmares at times, but such is life. Its a difficult job; you can never stop learning or you will fall behind as rules constantly change. But if you're good at it, you can be successful.
It has paid off, but I still have 10 more years to retire (I'm 50). Its a decent, reputable, marketable job. I recommend it.
Accountants encrypt tax code to create personal job security.
I was waved off the course by older CPAs who told me that the profession, once upright and clean, is now rather sleezy.
actually i work in the entertainment business- film and tv.
But when i dont know or care for someone i first meet i usually say im an accountant since its such a boring occupation that they dont and wont bother me for any details.
I was, until I discovered that the higher you get, the more lying is required of you, and the high paid accountants, particularly tax accountants, are sleazier and more corrupt than attorneys.
When the Fair Tax becomes law CPAs will be in search of a job. They're the only group protesting the simplier tax system.
Creative accountants allowed GE to pay no taxes.
I went back to college in my thirties and got the accounting degree. Worked mostly as a budget analyst and still do now even though I'm 65 and will retire in 5 years. I like it. Not fond of bookkeeping and auditing but financial analysis is far more interesting and I like forecasting. Did a lot of community theater on the side and worked in a major performing arts center for several years as an analyst. It's not half as dry as you might think, there's great job security and the pay isn't bad. I'm a creative type but I really like my job.
I am so old I actually worked for one of the Big 8. If you have good grades you can almost always get hired right out of college. You are worked like a rented mule, BUT you learn all the positions in client companies that pay the most. Then you position yourself to go into one of those. I HATE balencing my checkbook, doing my taxes, etc. Probably from all those busy seasons. But I have made millions by turning a hobby into a nationally known business. I would not have had the skills if I had not started off in accounting. Sometimes, a job being less than fun is the best thing. I think the worst is getting a job out of college and staying in it till retirement because you neither love it nor hate it. Engineers and Accountants usually escape to management.
I'm a CPA in NYC and work as a consultant-- I make about $250k/year and I love what I do. I especially love not having the responsibility of my peers who work for the company-- and there are two definites at the 10 clients I have worked at: (i) there are many people who hate their jobs but are stuck getting the paycheck and can't escape; (ii) I have been offered jobs at these companies but did not want them! It's odd to think I live in a million dollar + home being an accountant, but in NYC it pays really well!
How old are you r20? Making a good salary and loving your job NOW is nice, but not if you had to put up with 10, 15 or 20 years of hell to get there. That's what I hear from most people who have a career in accounting.
A friend is an accountant with the US Government. He has worked for the Department of the Army, the Department of Transportation, and most recently as a project manager at the Department of the Treasury on the TARP project.
He is very orderly and precise in all facets of his life. Accounting suits him very well.
O.C. woman used company credit cards for fertility treatments, D.A. says
May 16, 2012 | 4:10 pm
A down payment on an Audi, an engagement ring and fertility treatments for her domestic partner are few of the items a Fullerton accounts manager at Sweet Life Enterprises is accused of charging on her employer's credit cards -- running up more than $236,000 in fraudulently charged personal expenses.
Ligia Baciu, 35, was arrested Wednesday by Brea police. She is charged with 21 felony counts of computer access and fraud and three felony counts of fraudulently using access cards. If convicted, she faces up to 20 years and four months in state prison.
Baciu worked in the accounting department of Sweet Life Enterprises, a subsidiary of Brea-based Fresh Start Bakeries Inc., from 2005 to 2009. She was responsible for all company credit card accounts, authorities said.
But Orange County prosecutors say she used her position to sweeten her own life.
Not satisfied with a single company credit card, prosecutors said, she ordered additional credit and gas cards in her own name with various account numbers.
Armed with the cards, she used them to pay bills, buy groceries and dine out. She also bought airline tickets, stays in hotel suites, nice clothing and even a down payment on an Audi, prosecutors said.
But the largest purchases were an engagement ring and fertility treatments for her domestic partner, according to prosecutors.
Prosecutors allege that she attempted to conceal her theft by manipulating the company’s financial records to indicate that her purchases had been made by other employees. Her bosses remained unaware.
Even when she left the company in October 2009, she continued to make fraudulent purchases on the company credit cards, say investigators. Her scheme continued until January 2010, when the alleged theft was discovered in an accounting review of the business' credit card statements, prosecutors said.
Baciu is being held on $250,000 bail in the Orange County jail pending a court appearance Thursday. Before she makes bail, prosecutors say they will demand she prove that any money she uses for bond is not paid for with funds allegedly stolen from the company.
Omg I should have been an accountant. Too old now. Boohoohoo.
After being laid off from a finance position, I went back to study accounting at the young age of 50.Yes, you heard it right, 50.
I passed the CPA exam and I am in the process of obtaining my license.
When you factor in my two related masters degrees (Ivy League).
and a CPA, in addition to my 25 years of business experience, no public accounting firm will touch me with a ten foot pole. Nor can I even get temporary work.
I have no drug or alcohol problem, and to be honest, neither my friends consider my the classic "loser" type.
I live with my elderly father, and my sole source of income is food stamps and a free prescription plan. If anything were to happen to my dad, I would be on the street in a matter of days.
No I am not a troll and this is not some type of bad joke.
If this can happen to me, it can happen to anyone.
I like accounting, but accounting hates me.
Ah yes, America, land of opportunity.
CPA candidate on Food Stamps
Accounting sounds very boring.
In this economy people would kill to be an accountant
In this economy, people should kill their accountants.
[quote]It has paid off, but I still have 10 more years to retire (I'm 50). Its a decent, reputable, marketable job. I recommend it.
Any thoughts of retiring early?
It honestly can be very boring. In college, I knew I wanted to be a manager of an organization after working for some pretty bad bosses. My adviser recommended that I change my major from Business Administration to Accounting, because it would be easier to find a job after graduation. Best decision I ever made. I worked in several accounting departments, and did consulting for about 10 years. Then, I went back to school to earn an MPA, and now I'm a Director with a large agency. ,I've been here 11 years earn 6 figures.
I could never spend my life being an Accountant, but having that background is invaluable. I see myself being a CEO in a year or two.
When I went and got my accounting degree the major seemed to be frat boy heaven. I believe nearly everyone I graduated with had a job waiting when they finished.
R25- Accounting firms want young naive people they can use who won't dare complain. Someone who has 25 years experience is just trouble. I had a masters and was 25 instead of the 21 year olds they normally hired. One partner told me when I complained about 70 hour weeks "At least you are getting paid for it, accounting used to be an apprenticeship with not salery." Yeah maybe in the middle ages.
My advice would be to look into banking or regulatory agencies... they respect a CPA certification and it is applicable if you have some audit experience. You could probably get hired for busy season only at an accounting firm. Just make sure and tell them you know your place, will do what you are told and just need the experience for your license requirments.
Also, find a consulting firm that provides temporary help and see if you can work there. I was a manager of a large company and when we ran into trouble with regulators, I used a team of 15 temporary accountants and paralegals to bring our records up to legal requirements.
R25 you will have to find your own clients. Or sue every company that turns you down for age discrimination. Or sexuality discrimination. If you look at most major Fortune 500 companies, they like their CFOs to be under 40. Why? Because under 40s go along with any fraud management wants. Anything that requires knowledge or experience they contract out to Wall Street investment banks anyway.
The accounting profession is corrupt from top to bottom.
I'm a child of a child of the depression. I was raised believing you work until you're 70 and you "HOPE" for 10 years alive in retirement. So for me, retiring at 60 IS early retirement! I always expected to work like my parents until much later, but accounting should help me to get an additional 10 years more than my parents. I want my house paid off and enough money to live modestly. I'll be honest, I didn't start planning and saving for retirement until my mid-40's, so I'm glad that with that very late start, I could still finish at 60.
Interesting....I actually think I would prefer to work part-time until at least 70, given what people tend to say about retirement; boredom, slowing down, etc.
Can someone start a thread on "Your Ideal Age for Retirement?
R29, how much did you save per month starting mid40s? I'm mid 40 and dunno how much I should save.
The problem with retiring early is game changers out of people's control -- like what happened to R25.
So many people I knew amassed a million and retired in the mid-80s but were back at work in the mid-90s because interest rates had dropped so low the could no longer live except by consuming their capital or getting themselves back in their cubicles.
And then, at the same time in the mid-90s, outsourcing started, and by the 2000s, many found it impossible to find another cubicle in which to roost. They couldn't even find menial jobs. So there went their capital.
Even the best accountant can't forestall game changers, and even the best people can't become accountants in this odd time.
I just want to send hugs to R25
My guess is OP has a degree in Children's Theatre, lots of unpaid loans, and a temp agency that no longer cares about his availability.
Gay men, for god's sake: learn a freaking marketable trade, and don't sneer at men who do have real jobs.
r25, why not look into teaching? Sure if won't pay big bucks, but it's something.
R43 -- they are merrily laying off teachers, or almost laying them off, each and every semester...
R25, see if you can carve out a specialty catering to baby boomers. My cousin in an architect who was laid off in 2009. He looked for work for a year and finally marketed himself as a "senior home renovation specialist." He's turning down work now.
Hope things turn out well for you.
r44, r25 could teach at a professional level with 25 years business experience (not just college level).
Can we hear from some people with accunting degrees who aren't in their golden years please? I know its going to be difficult considering the amount of eldergays we have here but it would be much more useful.
I'm just not so sure what there is to know R47. You go and get your degree in accounting. You get a job. You work for a while. Decide what are of accounting you want to focus in on. Get some more education to help you specialize.
Millions of people with real careers do it every day. Do you have a specific question?
It's kind of hard to answer anything to a thread that thinks accountants are either boring or dishonest. You know us unelected accountants make it so companies like GE don't have to pay taxes.
At least according to Dataloung and the photocopier class.
I have a friend who should be an accountant, but she feels too overwhelmed with social interaction to go to college.
But she says numbers "sing in her head," and she has an obvious talent for doing any kind of accounting and bookkeeping.
She works as bookkeeper for a small company where she basically sits in a room alone all day and doesn't have much interaction with people, and she loves her job.
I have sometimes wondered if she has a mild case of Asperger's or other form of autism, because she likes numbers better than people and really can't handle too much social stimuli.
My sister, on the other hand, got a bachelor's degree in accounting and worked for a couple of year's at a Fortune 500 company that would have paid her to get a master's and a CPA, but she hated it, and left the field entirely.
[quote] You know us unelected accountants make it so companies like GE don't have to pay taxes.
It's usually tax lawyers who do that - the accountants merely do the paperwork.
"It's usually tax lawyers who do that - the accountants merely do the paperwork"
EXACTLY! And it's all those doctors that are killing people by giving them cancer.
[quote]So many people I knew amassed a million and retired in the mid-80s but were back at work in the mid-90s because interest rates had dropped so low the could no longer live except by consuming their capital or getting themselves back in their cubicles
They were spending too much. A million dollars will allow for $40k per year in living expenses using a 4% withdrawal rate. In the mid 80s that was a lot of money. If they were really young, then they should have been withdrawing ~3.5% of their portfolio and $35k was still a lot of money in the mid 80s. The problem isn't with touching capital, it's with spending too much.
The forum in the link below is all about retiring early. There are a lot of engineer/number cruncher types who post on the forum and are very helpful.
I've been an accountant for over 30 years and I am also a CPA, and I've stayed employed during my entire work career to date. It's not the most exciting career, but there's always accounting jobs available out there and it pays the bills.
[quote]I'm a CPA in NYC and work as a consultant-- I make about $250k/year and I love what I do. I especially love not having the responsibility of my peers who work for the company
In otherwords he's an eldergay and he got fired and no one wants to hire an old queer.
$250K year. Yeah right, you typed one too many zeroes in that figure.
Nice having a career that has been replaced by Quickbooks.
I had no idea what I wanted to major in at college. I liked math, but didn't want to become a teacher. I took an accounting course and sort of liked it. I just declared an accounting major at the last minute.
I was hired by an accounting firm before I graduated. They recruited 8 of us in 1987 for a beginning salary of $18,000, and this was in Boston.
We essentially were their slaves. Horrible people with worse ethics. I moved on to work as an accountant at a hospital. Better, but not great as they went under. Last accountant job was at an insurance company. We were sold within 2 years. Our controller knew it was coming a year ahead of time, but never told us, so he was looking for a job while the rest of us were out of one on the spot. Terrible person. Also, you'll find most accountants are very conservative in their political views. I can't understand how people who are gay can cope with such assholes. I'm now looking to change careers. Not easy at my advanced age of 46.
I put the maximum away, which at the time was about 15,000 per year. Now that I am 50, I am starting to put away $22,500 and my company matches that with add'l $7,800 per year. With modest growth, a "regular" savings account, and SSN, you should be able to do it by mid-sixties (I'm assuming SSN will be tenuous at that time). Go to "ingdirect.com" and use their retirement planner.
Don't go into accounting to money - it's too soul destroying (unless you have a true love for the discipline). Try working at one of the Big Four - you're a hamster on a wheel (for years and years). Only a few break into the mega bucks.
(And it is the tax lawyers that make the huge money - I know many who earn seven figures, I don't know one accountant who does).
But where are you when your not a hamster on a wheel in some sense? Is it less soul scorching to be chained to a photocopier? Dishing out fries at McDonald's? Emptying bedpans as a nurses aid? Slinging a cup of Joe at Starbucks? All making barely a living wage at that?
This is why I don't pity most of the basement dwellers. Sure I'm on a hamster wheel sometimes. That's why they call it work instead of vacation. Only I get to do it in my office, wearing my suit, making a good paycheck, with an assistant to run and get my lunch.
[quote]Go to "ingdirect.com" and use their retirement planner.
Go to firecalc.com & spend some time playing with the numbers. Pay attention to the various tabs at the top, they allow for different types of data to be entered.
"Accounting" is actually a pretty broad category of different professions, whether working in public accounting (CPA) or in private industry (sometimes called "management accounting"). A CPA or public accountant can specialize in financial audits, tax, accounting systems, or even forensic accounting. Management positions can include cost accounting, tax compliance, payroll, etc.
I got my BS in Accounting, and worked in a CPA firm for 12 years ... it bored the crap out of me. I sat for the CPA exam twice (the second time, I had a 103 degree fever, but still passed 3 of the 5 parts at the time). I was getting ready to sit for a third time, when it dawned on me that the financial accounting part of being a CPA was what bored me, and I really had no desire to make a living at that. Taxes did interest me, and I sat (and passed the first time) the exam to be an Enrolled Agent, which lets me do pretty much whatever a CPA can do, at least in taxes. Became tax manager of a CPA firm for a while, before going off and starting my own firm, which primarily deals with clients in the LGBTQ community.
I'm sure that, if I had stayed and passed the CPA exam, I likely would be making twice what I am making today. But I do OK, and it is a small price to pay for having a clientele I enjoy dealing with, and with whom I can be "out" as I am. No regrets.
Nice post TaxTrollEA. I myself would like to be moving towards forensic accounting. I just really love where I'm working at now and would miss it.
R56 omg your company gives you around 30k for 401k? No wonder you can catch up. My company give us like $3k.
If you make enough to put away $22,000 per year, retirement is never going to be a problem anyway.
(Maybe I am just bitter because I entered a profession that pays 50K/yr and demands 16 hour days.)
Wow, R54, I actually do make $250k per year, and I have chosen to be a consultant (I have been offered jobs at EVERY client for which I have consulted). I am 46, and have always loved working with numbers. For people who do not work in this field, there is much more to this than doing bank reconciliations (I haven't done that for over 20 years), and taxes (I don't do taxes). Preparing financial statements, the accompanying analysis, budgeting, trending, regulatory reporting, and board presentations are just a few of the things I have worked with. I love it, it's exciting, and the money generated from the world of finance has enabled this country to be what it is today (regardless of what the haters say).
R62 and R63: My company only puts in $7,800; I put in $22,500 from my pay. So yes, I get $30K in my account each year, but most of it is from my holding back on purchases and instead putting it into 401K. I wish I had listened to those people who said to max out and never withdraw your 401K when I was in my 20's. My house would be paid off and I'd be working at my dream job: horticulture or landscaping or Home Depot's plant department. (But I don't hate accounting; its just getting old after 25 years.) Stay at it! Good luck!
I just read somewhere that there are now more accounting majors than psychology majors in the US.
Here's a link to an accounting blog. It's mostly about the Big4 but includes some of the other well known firms.
As for retiring, one of the big 4 requires partners to retire at age 58. They make too much money and the firm wants to give opportunities for others to make partner as well.
There have always been more accounting majors than psychology majors.
R1, what do you do? I'm an accountant now but want to make the really big $$ soon. How do I do this?
Accountants are pink collar ghetto people. They want them young so that they will cooperate in management's illegal schemes, that is to say, with the notion that the numbers should be what the sales staff wants them to be. And yet that is specifically what accounting is not. The more honest you are, the less business you will get.
The older you are, the less business you will get.
R69 is in the copier class and is emotionally manipulated into donating to the fraus shower collections.