1 Referrals > résumés
A major misconception is that firms look at all applications in deciding which students to interview. Actually, firms may prefer to look at résumés from students with referrals! Referrals generally come from two sources: a) other students hired by the firm who are asked to recommend classmates; and b) partners, managers and senior associates in attendance at recruiting events and campus info-sessions. So it may not be worth taking much time to polish your résumé if you have not invested time in networking and building connections.
2 No experience necessary…
Firms may not expect students to have previous accounting work experience. Public accounting is a “people profession,” and in order to be successful, a new recruit must have the social skills necessary to be able to comfortably interact with clients and co-workers. Most entry-level accounting positions involve data processing and very little human interaction, and therefore are not ideal as background experience. Instead, experience working closely with others or helping customers—in positions such as camp counsellor or retail sales associate—is generally preferred by recruiters.
3 Don’t talk about the future!
During an interview or info-session, some students make the mistake of announcing their intent to transition to another area of public accounting (e.g., tax, valuations, forensic accounting, etc.) once they qualify for their designation. CA firms are arranged as “partnerships within partnerships,” and although different service groups operate under a single firm name, they are essentially different businesses. So the audit department is not looking to hire students who are already planning their exit strategy, even if it is technically within the same firm. If a recruiter asks you where you see yourself in five years, answer by saying that your current focus is on finding a position in audit and being a productive and contributing member of a firm, and that once you gain some experience in the industry, you will be in a better position to assess your long-term career prospects.*
4 Beware the Big 4 bias
Many students believe that the work experience offered by the so-called “Big 4” firms— PricewaterhouseCoopers, Deloitte & Touche, Ernst & Young and KPMG—is superior to that of mid-sized and local firms, as well as other approved training offices. The reality is that all CA firms offer an exceptional experience, and the key is to select a firm based on the work culture and clients that suit you individually. In fact, of the four accounting firms recently named to the list of 75 Best Workplaces in Canada by the Great Places to Work Institute, only one was a Big 4 firm. Recruiting is all about options, and by only applying to Big 4 firms, you drastically decrease the likelihood that you will receive an offer.
5 What if you do not receive an offer?
The stress of recruiting is compounded by the possibility of not receiving an offer. If you are not successful in your search for a co-op or summer internship position, don’t despair: firms hire about twice as many students for full-time positions, so the odds of eventually receiving a job once you graduate are still very good. If you are not successful in your search for a full-time position, there are a number of alternative CA job search strategies you can use:
» Applying to small/local firms in your city that hire outside the normal recruiting process
» Applying to small/local firms in rural areas
» Applying for positions in IT Risk & Assurance with large firms
» Applying to a graduate program like the UBC DAP or U of T MMPA program that also lets you pursue the CA designation
» Accepting an industry accounting position, studying for your CA exams, and then re-applying to firms once you pass the UFE (note that only some regions, such as Ontario, allow you to write your CA exams if you do not work for an approved training office)
The key is to be persistent. Good luck!
By Stefano E. Picone, CA, is the founder of myCAsite.com, an online community dedicated to helping university students and recent graduates interested in becoming CAs. For other recruiting insights, be sure to check out the site, or email Stefano at [email protected].
* Editor’s note: This article represents the opinion of the author and discusses job search strategies specific to the chartered accounting field. Career Options shares the opinions of many career experts and all are valid. In any interview situation, you may very well be expected to discuss your plans for the future openly and honestly.
