[mr.wonderful]

This thread is a sort of debate. I want to know if a university's prestige and reputation matter to employers. Does prestige help you get a better job in accounting? This is for everyone to have an open discussion about this topic. I will be attending a "lesser" university for next year for accounting which is another reason I created the thread. Also, feel free to post about professions other than accounting, but I would like to get some info about the value of prestige in accounting.

[Selanne_200]

I don't think university prestige will get you a better job in accounting, since everyone coming out will be doing the same grunt work regardless. Where it is going to make a difference is your exposure to potential employers. Typically bigger firms will focus their recruiting resources on bigger universities like Sfu and ubc, with minimal events for other places like langara, cap or kwantlen. If you're inspired to work for the big 4 tho, then I say your chances are remote at best at being hired since over 90% of their hirings every year will likely to be from ubc Sfu and the odd ones from bcit
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[tiger_handheld]

It'll matter when you try to get into your first public practice accounting job so you can get your CPA with audit hours.

After you get your CPA , no one gives. At that point it becomes, how much experience do you have and how well does your public practice experience transfer to industry.

If you stay in public practice after designation, it's about how much you know (ie do you have Indepth, do you have SOX experience, are you an IFRS guru). At that point no one will care you got your BBA from a "lesser" school, in fact it'll put you a step ahead. Guy went to "lesser" school but is now partner or CFO material.

Side note: If you think Big 4 is the be all and end all, speak to someone that is off the record. Also remember the folk at those recruiting events are there to kiss ass to their managers and couldn't give a shit about you.

source: experience

[Selanne_200]

^I agree. As your progress on in your career, it's more about who you know as well. But during initial hiring and starting out, a degree from a better university will make job hunting easier.

[bcrdukes]

Here in Canada: Not so much.

In the US - you better bet it's important.

[Ulic Qel-Droma]

PwC only hires good looking people, so if you're ugly too bad.

[tiger_handheld]

PwC only hires good looking people, so if you're ugly too bad.

Looks are definitely a factor at PwC. Not sure how much for guys but for girls they are up there. It makes sense, Big 4 firm gotta send out the hottest looking representatives to clients.. shallow.. but it is what it is.

[fliptuner]

Someone say Prestige?

http://shirtshovel.com/products/movies/stepbrothers/prestigeworldwide-434.jpg http://25.media.tumblr.com/tumblr_lj0ovhdFSY1qhoa74o1_500.gif

[lowside67]

This thread is a sort of debate. I want to know if a university's prestige and reputation matter to employers. Does prestige help you get a better job in accounting? This is for everyone to have an open discussion about this topic. I will be attending a "lesser" university for next year for accounting which is another reason I created the thread. Also, feel free to post about professions other than accounting, but I would like to get some info about the value of prestige in accounting.
I would say it depends on whether you are going to get an accounting designation or not. If not, then absolutely it is relevant, but if you are going to get a designation, then the designation is more important and since it is standardized, there is no difference.

IE I started the CMA program after my undergrad in business from Sauder, but at the end of the day, I could have had an undergrad in arts from UNBC and I would be equally eligible to take the CMA, and after completing the CMA, the value is definitely on having the CMA, not on what you did before it.

Mark

[Lomac]

Here in Canada: Not so much.

In the US - you better bet it's important.

Not sure I agree about the USA bit... though I suppose it depends on your intended specialty and where you want to end up.


My dad attended a community college in Queens, NY for accounting, yet he still managed to snag a fairly prestigious position after getting his degree. Mind you, that was... what, 40 years ago? :lol I'm sure things have changed since then, but I'm sure it hasn't change that much since.

[Selanne_200]

Well from my experience at recruiting events where they send a lot of staff accountants out, a majority of them are either from UBC or SFU, and a bit from BCIT. I've only ran into maybe 3 in total that graduated from Langara/Kwantlen/Cap etc.

[Euro7r]

I did not get my degree from UBC/SFU. I personally don't feel it matters; however, there's way too many variables that seem to affect the decision of getting hired. A lot of people believe they should finish school before focusing on work or even finding work. Well, no experience means no job these days mostly.

[Splmash]

PwC only hires good looking people, so if you're ugly too bad.

I worked at PwC. :awwyeah:

[Splmash]

Here in Canada: Not so much.

In the US - you better bet it's important.

Why do you think it's important in the US? Source?

[AboveAndBeyond]

Sorry to thread jack but instead of accounting, what about for investment banking or even corporate banking for that matter? Love to hear ULIC's thought on this one, he seems knowledgeable in banking.

Does it give you an advantage coming out of a prestige school(UBC/SFU) than say Cap or BCIT for investment banking or even corporate banking?

To answer the OP's question, I'd say no it doesn't matter as much for Accounting.

[bcrdukes]

Why do you think it's important in the US? Source?

There are many articles and research done on the topic, along with academically researched papers on the subject. A simple Google search will yield results.

Another source: Personal experience. :)

[kross9]

i would say it would give you too much of an advantage since they are dime a dozen, but it will definitly help with your resume!

[twitchyzero]

in certain health care streams i feel it can help in the hiring process because it may reflect the quality of your training
but to most patients they usually only care about 3 things; how long is it gonna take? how much is it gonna cost? is it gonna hurt?

[bcedhk]

in certain health care streams i feel it can help in the hiring process because it may reflect the quality of your training
but to most patients they usually only care about 3 things; how long is it gonna take? how much is it gonna cost? is it gonna hurt?

dafaq? what does that have to do with OP's accounting question :suspicious:

[bcrdukes]

The same can apply to accounting.

I'm going to make this example up (for the sake of discussion.)

You are at a Big 4 recruiting event. PWC and KPMG have recruiters and managers from UBC. EY and Deloitte from SFU.

You have students from UBC, SFU, BCIT, Capilano, Kwantlen, and let's throw in VCC. Management from PWC and KPMG already know what kids from UBC have done, and are potentially capable of while EY and Deloitte know their talent pool from SFU.

These students are already at an advantage. Not only is there some form of favourtism or cronyism already happening, there could be internal and personal recommendations from professors and associates who attended the same schools.

This leaves the students from the other colleges at a disadvantage. Will these students be considered? Maybe. But they better have something more to offer than the candidate pool.

Accounting, engineering, heath care - it doesn't matter. In the end, it's about who you know and what you know.

[Ulic Qel-Droma]

Sorry to thread jack but instead of accounting, what about for investment banking or even corporate banking for that matter? Love to hear ULIC's thought on this one, he seems knowledgeable in banking.

Traders and bankers are totally different things. I'm a trader.

You'll prob wanna ask someone experienced with a CFA about banking.

[RFlush]

For Ibanking it's mostly connection based along with a degree from a highly reputable uni. In HK, even UBC is barely mentioned. SFU is like a low tier community college and anything bellow that, your resume won't even get a second glance.

Also if you come from a rich family, it helps a lot.

It's not fair, it's sad, but it's the truth whether you like it or not.

[lowside67]

Traders and bankers are totally different things. I'm a trader.

You'll prob wanna ask someone experienced with a CFA about banking.

It's actually interesting, I am finishing my CMA and writing CFA level 1 a week apart and the material is so different. The CFA exam is a bunch of studying but frankly if you are of average intelligence and put in a lot of studying, I don't see how you can't pass this. No one concept is hard, you just have a lot to remember. I was talking with a member of the CFA institute and asked why the pass rates are so much lower than they used to be and he said it was simply because they are getting more and more marginal candidates trying out for it. Remember, that field is ULTRA competitive to get a job - passing the CFA is absolutely not enough to set you apart and if you don't have the juice (networking, a well rounded resume, and great interview skills) you are wasting your time as even if you pass the exams, you won't get a job in the field.

This is not true in the accounting world where there are enough people competing for jobs without a designation that having the designation gives you a significant leg up.

Mark
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[tiger_handheld]

It's actually interesting, I am finishing my CMA and writing CFA level 1 a week apart and the material is so different. The CFA exam is a bunch of studying but frankly if you are of average intelligence and put in a lot of studying, I don't see how you can't pass this. No one concept is hard, you just have a lot to remember. I was talking with a member of the CFA institute and asked why the pass rates are so much lower than they used to be and he said it was simply because they are getting more and more marginal candidates trying out for it. Remember, that field is ULTRA competitive to get a job - passing the CFA is absolutely not enough to set you apart and if you don't have the juice (networking, a well rounded resume, and great interview skills) you are wasting your time as even if you pass the exams, you won't get a job in the field.

This is not true in the accounting world where there are enough people competing for jobs without a designation that having the designation gives you a significant leg up.

Mark
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I highlighted some things you said I thought was rather interesting.

[twitchyzero]

dafaq? what does that have to do with OP's accounting question :suspicious:

Also, feel free to post about professions other than accounting

:accepted:

[zetazeta]

Sorry to thread jack but instead of accounting, what about for investment banking or even corporate banking for that matter? Love to hear ULIC's thought on this one, he seems knowledgeable in banking.

Does it give you an advantage coming out of a prestige school(UBC/SFU) than say Cap or BCIT for investment banking or even corporate banking?

To answer the OP's question, I'd say no it doesn't matter as much for Accounting.

School matters a LOT for ibanking. I did quite a bit of research into this industry at one point (check out wallstreetoasis.com forums, they have legit advice and industry professionals over there), and school (target/ivy) definitely matters if you are gunning for BB or even MM. GPA and past internships also plays a huge part (GPA is more of a cutoff).

If you are in the lower mainland, UBC is your best bet. Sauder has a Portfolio Management program which I've heard is pretty good. If you take a quick search on linkedin for connections at BB's, you will see that the mass majority of their people are from target and ivy league schools. Hell, look in the public resume review section on wallstreetoasis, some of these people have decked out resumes... these are the peeps you are competing against for BB/MM. Here's an example of some of the people you would be competing against URGENT: Please demolish my resume! | Wall Street Oasis (http://www.wallstreetoasis.com/forums/urgent-please-demolish-my-resume)


UBC PMF Program | Sauder School of Business at UBC, Vancouver, Canada (http://www.sauder.ubc.ca/Faculty/Divisions/Finance_Division/Programs/PMF_Program)

[mr.wonderful]

It's actually interesting, I am finishing my CMA and writing CFA level 1 a week apart and the material is so different. The CFA exam is a bunch of studying but frankly if you are of average intelligence and put in a lot of studying, I don't see how you can't pass this. No one concept is hard, you just have a lot to remember. I was talking with a member of the CFA institute and asked why the pass rates are so much lower than they used to be and he said it was simply because they are getting more and more marginal candidates trying out for it. Remember, that field is ULTRA competitive to get a job - passing the CFA is absolutely not enough to set you apart and if you don't have the juice (networking, a well rounded resume, and great interview skills) you are wasting your time as even if you pass the exams, you won't get a job in the field.

This is not true in the accounting world where there are enough people competing for jobs without a designation that having the designation gives you a significant leg up.

Mark
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I am planning go get the CPA designation
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[buhdeh]

If you are going for Big 4 then yes it matters, sort of. UBC/SFU makes no difference. Any other school (in BC) you will be severely disadvantaged unless you're a top of class, perfect GPA, lots of work experience type of person.

For ibanking, it matters even more. I would personally not even bother with pursuing finance at a school like SFU or below unless you're okay with working at small/lower tier firms.

[mr.wonderful]

If you are going for Big 4 then yes it matters, sort of. UBC/SFU makes no difference. Any other school (in BC) you will be severely disadvantaged unless you're a top of class, perfect GPA, lots of work experience type of person.

For ibanking, it matters even more. I would personally not even bother with pursuing finance at a school like SFU or below unless you're okay with working at small/lower tier firms.

Of course I would like to get hired by the big 4, but if not, Im sure it doesnt make a huge difference. I can work for other mid sized or start up firms or government or self employment etc.
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[AboveAndBeyond]

Traders and bankers are totally different things. I'm a trader.

You'll prob wanna ask someone experienced with a CFA about banking.

Might have worded it wrong but AFAIK S&T is part of the IB umbrella. What about specifically for trading than?

Does coming from a prestige school help in that regards if you wanted to get into S&T?

[Selanne_200]

Of course I would like to get hired by the big 4, but if not, Im sure it doesnt make a huge difference. I can work for other mid sized or start up firms or government or self employment etc.
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Well if you want to do accounting, it would be hard for you to be self-employed out of school. You're not worth anything without your CPA.

[tiger_handheld]

If you want your CPA with audit hours, you need a CPATO , if you dont need audit hours, go work at Joe's Manufacturing as junior>intermediate>senior accountant and you'll get your CPA as well. CPA offers two paths- the traditional CA path (big 4) or CGA path (industry)

[Selanne_200]

^There are actually 3 paths. There is Public, Private and Government. The traditional CA path also isn't limited to the Big 4 only but as long as it's a CPATO and you just make sure it's an audit training office and not a review if you want your full CPA certification.

[Token]

Has anyone here actually used the CFA exams to get an accounting position? I'm not even sure an accounting job would qualify to give you hours for the experience requirement. From all my friends in accounting it seems that CPA is the key.