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Accountants - new, experienced, aspiring

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Internships [Oct. 12th, 2009|02:27 am]
Accountants - new, experienced, aspiring

cpamembers

[uglybracelets]
I am a new member, and I already have a question.

I am just finishing my second year of college, and just getting into the real accounting stuff.  I have done a few basic courses early on (through community college) to make sure I liked the Major.  It was a good idea, because I didn't do that when I was going for social work, and I regretted that.  So I am considering an internship.  I live in Harrisburg, PA, but have lived in Pittsburgh, and wish to move back.  Deloitte and Touche has a major office there, and they do a lot of summer and year round internships.

Can anyone give an idea on what I could expect for pay for an internship with this company (did anyone do it?)?  Me and my Fiance would love to move back to Pittsburgh, and I don't want to apply for something I wouldn't be able to take because of the lack of pay.  My GPA is great, somewhere around 3.4 and steadily rising.  I have went through 3 or 4 actual accounting courses, but as you know the bulk comes in the next two years.   I think my chances are low (at my current year), but trying never hurt anyone.

Thanks so much!
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Comments:
[User Picture]From: buckeyeschild
2009-10-12 09:47 am (UTC)
I would imagine that D&T (or any of the Big 4) have well paid internships due to the competitiveness with all of the accounting firms (including regionals). Internships are generally paid by the hour, which is great if you're looking for a winter internship or land a year-end client during the summer.

I am surprised; however, that they have "lots of summer and year-round" internships available. They don't in our market/state. Things are getting really, really competitive nowadays. Also, your GPA may/may not be good relative to the college you're attending. If the college is competitive, and the firm has experienced good hires out of it, then a 3.4 is probably ok. But if you're at a small community college who isn't one of their priority schools, then you'll probably have to work on bringing it up. 3.4s are generally the minimum GPA we require (I work for another of the big 4).

If you're really interested in a job with them, do what you can when they're on campus to get to know the lead recruiter. They will often coach you if you're still a little "young" for an internship, or perhaps they will consider putting you in their leadership programs/pipeline.
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[User Picture]From: uglybracelets
2009-10-12 04:57 pm (UTC)
I should have put a number to that "a lot". That was a little silly of me. From what I got from a person who worked for D&T (not in the intern program) he said on any department they can have up to 10 internships per summer/winter.

Because Pittsburgh is a big college city, there is competition, but certain times are better than others to get the internship.
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[User Picture]From: nydia_s
2009-10-12 11:37 pm (UTC)
As you say, trying never hurt anyone, and the contact you'll make now will be good in the future even if it doesn't work out this year.

My experience is in a state where almost everyone at the two major universities did a five-year bachelors plus masters program, so it may be a little different if you're doing a straight bachelors. I, personally, took a completely different track as my undergraduate degree was not in accounting and I went back three years after graduation to do a year and a half standalone masters program. However, I believe that generally the big 4 don't hire anyone for internships until during or after the third year, which is the year you formally enter the five year program.

Pay is good for internships. Again, because I didn't do the usual course of study I didn't do an internship, but I believe they get paid an hourly rate that's calculated to be near what the first year associates are getting. I know people always said that the interns really made more than the first years because they got overtime, but I don't have personal experience or hard numbers to back it up.

At least in my home area, the internship selection process is pretty tough because they usually intend to make you a full time offer unless you really screw up the internship. So they're really screening you to see if they want you full-time, not just for the summer. I also know that the process was a lot tighter this last recruiting season than in the past because of the economy, etc.

Good luck!
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[User Picture]From: buckeyeschild
2009-10-13 01:43 am (UTC)
you are generally correct with the hourly pay. When I interned, I was paid hourly, and as I worked during busy season, I was on track to earn more annualized than my manager...
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