What large firms expect from new accounting grads

Securing a job post-graduation won’t be an issue for most accounting students, but those who hope to end up at the nation’s largest firms will need more than good grades to get hired.

Here’s what recruiters from large firms look for from accounting graduates:

PLANS TO PASS THE CPA EXAM

Though licensure is not required on day one (particularly because most states have a work experience requirement for licensure), large firms strongly encourage new hires to get a CPA license within their first few years on the job.

At Grant Thornton, most new hires need to have fulfilled the 150 academic hours required for CPA licensure before being hired, said Tony Fuller, a Chicago-based recruiting director at the firm. Grant Thornton also encourages students to sit for as many portions of the exam as possible before starting.

KPMG also wants students to have the academic hours requirement squared away before starting work, said Kathy Schaum, CPA, KPMG’s national director of campus recruiting.

At Grant Thornton and KPMG, there’s a financial perk for passing the CPA Exam shortly after being hired. Both firms offer new hires a $5,000 bonus for passing in the first year and $3,000 for passing in the second year. Most new hires, Schaum said, sit for the exam within the first two years.

COMFORT WITH TECHNOLOGY

Basic Excel knowledge is a must, and most students start their jobs with adequate skills, Fuller said. Recruiters are also looking for demonstrated abilities to quickly pick up other software programs. Most large firms have their associates use proprietary software, so new hires will have to master new programs regularly. Prospective hires can highlight their skills during interviews by discussing projects that used advanced Excel functions or by listing technology-focused classes and program certifications on a résumé, Schaum said.

Data analysis is a growing need in many firms, and recruiters want to see more emphasis on analytics in collegiate accounting programs, Schaum said. “We’re really demanding more of our people in that area,” she said. “We’d like to see more of our new hires come in with experience in data analytics.”

KPMG recently partnered with business schools at The Ohio State University and Villanova University to develop a master’s-level program in accounting data and analytics. The firm will pay tuition and room and board for 50 students, who will have jobs waiting upon graduation. The program launches in fall 2017.

STRONG COMMUNICATION SKILLS

The ability to talk and write clearly and effectively can set job candidates apart from others.

Job candidates with strong numerical skills but average communication skills will still do well, said Bill Driscoll, a district president for global staffing firm Accountemps, a Robert Half company. But having strong writing skills as well as accounting knowledge “can really open up a lot of different doors,” he said. He has found that new accountants are sometimes intimidated when asked to write proposals or correspond with clients.

A DIVERSE RÉSUMÉ

Firms desire job candidates with résumés that show a variety of activities outside of academics. “We’re looking for a student that’s fairly well-rounded,” Schaum said. “They need to be good at a variety of things.”

When it comes to electives, Schaum looks to see if students have chosen challenging courses, as opposed to filling up on easier offerings—a sign that they are engaged in different areas and interested in learning new things.

Fuller also likes to see work experience, even if it’s a lifeguard position or time spent waiting tables. It signals to him that an individual understands workplace expectations and has the ability to show up to work on time.

A TEAM PLAYER

Accountants must work well with others, especially now that they are more likely to find themselves in leadership positions. “Accountants have become increasingly more critical to a company’s operations,” Driscoll said. “Companies want accountants to be part of the management team.”

To prepare for that role, students should have experience working in different settings with different types of people. Recruiters will look to see if they have work experience or have participated in extracurricular activities that offer those types of opportunities.

READY FOR A PROFESSIONAL OFFICE CULTURE

New hires will need to come across as professional in their demeanor and appearance from day one. KPMG frequently meets and corresponds with applicants during the hiring process and assesses whether a person is able to be professional, Schaum said.

New hires also have to have reasonable expectations about their role within the larger company. Schaum and Fuller both said that, occasionally, an overconfident employee arrives thinking he or she should quickly ascend the corporate ladder. “It takes hard work, experience, and time to develop the necessary skills for partnership,” Schaum said.

Fuller said that those without much time on the job need to be willing to learn from their more-experienced colleagues. “There’s a balance of being humble and realizing you’re not going to know everything and you’re here to learn,” he said.

About the author

Sarah Ovaska-Few is a North Carolina-based freelance writer.

To comment on this article or to suggest an idea for another article, contact Courtney Vien, associate editor, at Courtney.Vien@aicpa-cima.com or 919-402-4125.

Editor’s note

This article is excerpted from the article “What Large Firms Expect From New Accounting Grads,” Extra Credit, Oct. 11, 2016.

AICPA resources

Articles

• “What’s More Important: Technical Ability or Soft Skills?” CGMA Magazine, Sept. 27, 2016
• “Recruiting the Best: What CPAs Could Learn From College Coaches,” JofA, Aug. 2016
• “Hiring at Public Accounting Firms Hits All-Time High,” JofA, Oct. 2015
• “How to Win the Game of Talent,” JofA, Oct. 2015
• “Hiring, Onboarding, and Management Strategies for Young Professionals,” CGMA Magazine, May 25, 2016
• “Working to Close the Skills Gap,” JofA, April/May 2015