manchesterunigrad2015

Well big4 make you study for all/vast majority of papers within your first year and early in your second, so it's not really 'all that', it's pretty much 12 months in total of solid study. Many ACAs leave practice upon qualifying, many go into industry. The reason I want to do ACA over the others, including CIMA - even though this may seem a better option for industry, is because if the economy went belly up and a FTSE250+ firm didn't need someone in their finance department, you could always go back to practice. With CIMA, you cannot.

Out of interest, how long ago did you sit the ACA examinations?

manchesterunigrad2015

An ACA training agreement (just the chance to study for it) isn't too difficult to obtain, it won't cost me anything and is equivalent of a Masters. Secondly, an MA or MSc costs thousands of pounds and aren't really that well respected in the UK compared with the rest of the world. I'm not saying they're useless here, but for what they're worth, unless you have a wealthy background and can afford to part with £20,000 real cash (or are bright enough to get funding - unlikely in this climate from financial firms), I think there are better options.

An MBA would be good, but I'd need some work experience first and with the economy the way it is, I'm doubtful of my chances in 2014/15. In my view accountancy is a safe, interesting option and one that won't leave you closed off from other options once my ACA training is over and hopefully the economy will be a bit better in 2018.

Just to add, ACA is a premier business qualification, not solely an accounting one. I'm also thinking of CFA, but I need to investigate it further.

Howefamily

I am now actually CIMA qualified and have transferred to CMA here in Canada. It was a choice made as I was not interested in being in practice. You dont have to pigeon-hole yourself as much as you seem to think you do. As a CIMA qual accountant I have also been a project manager, an internal auditor, a management accountant, a financial accountant and a coporate accountant. I qualified 4 years ago but have 17 years of experience.

Unless you really WANT the big 4, then you dont need ACA but you DO need something, and they are all considered highly as designations because they dont come easily. They are hard work and an investment in time and energy.

manchesterunigrad2015

Thanks for the info. Yeah, they're all hard work but from what I've been told the actual content isn't too difficult, it's the sheer content of the exam modules which is horrific and thus requires plenty of study during evenings after work and even more at evenings 3 months before exams. I know that ACA holders aren't guaranteed a job, but I think CIMA holders are more at risk of an ever fluctuating economy - looks like it'll be unstable for the next 10 years - that's my view anyway. I read this and thought it was horrific - http://www.dailymail.co.uk/news/arti...-700-jobs.html All that hard work and work experience and the downturn meant he couldn't look after his family properly. If he had ACA - which could also lead to FC positions, he could have reverted back to practice, either Big4 Audit or a smaller regional firm. But I will look at CIMA. You're right, ACA is not necessary unless you wish to remain in audit or the like, but it is a very broad qualification at the same time.

scrubbedexpat099

My Brother is Chartered and did a stint in NY.

He also spent a fair bit of time in Chicago as the Company he then worked for was based there.

Howefamily

Dont forget that the DM is sensationalist and likes to dramatize everything.
CIMA and CMA also lead to FC positions. I know many FCs that have those designations. Honestly, as long as you are good at your job, have the right experience and fit the criteria for a higher level position then which designation you have doesnt seem to make as much impact as you think it does. That is UNLESS you want to work in one of the Big 4.

Oh and the downturn affects many things - where you are based, number of available positions, your experience in your profession, luck etc

COSPhil

The simple answer to the question posed is "Yes."

The issue is that you essentially have three major options visa wise for achieving your stated dream of living in NYC.

1. L1 Visa - This would require you to be transferred internally by a business that has a United States frontage. In your case that means getting the qualifications and experience necessary to work in the US for said firm, and putting yourself in an area of that firm that has a track record of being "needed" in the states.

2. H1B Visa - This is where you are sponsored by a US business to come over to work for them. For this, you will need a degree and relevant professional qualifications. You will then need to find a US business willing to sponsor you, this is best done around April. To achieve this you will need to polish your networking skills extremely well...and find a niche for yourself.

3. K1/CR1 Visa - This is marrying a US citizen, which is what I am doing - in fact, this is my entire reason for moving to the United States (rather than meeting someone which facilitiates this). As it happens this is also allowing me to further my career within the Olympic & Paralympic movements, and live in a truly wonderful part of the US (Colorado) but primarily it allows me to marry a truly remarkable lady. Others have mentioned internet dating - and that is certainly a way forward.

Some other perhaps slightly left field alternatives;

1. Canada
I know you've stated your ambition to work in the United States, and in the NYC market in particular. However, it will be alot easier for you to get a 1 year work permit (under 34 I believe) in Canada. Toronto, Ontario is the busiest city in Canada and will offer many of the same benefits as NYC. I would wager that it is a step closer to the lifestyle you are seeking, and Canadian experience is NOT American experience it is closer in culture and work culture than the UK.

2. J1 Visa
This is worth considering for you if you are seeking to "try before you buy" - it's not a visa I've looked into alot but my understanding is it will allow you to take up an internship or spend a relatively short time here working. Before you dedicate what will be years trying to get a more permanent arrangement in the US then this might be worth looking at.

3. F1 Visa
If you have plenty of wonga, and want to live in the States, one way of course to do this is to look at finishing your education off in the States - perhaps in New York for example. NYU do have a campus in London, as do American Intercontinental University so it might be well worth researching that as a starter for 10.

What I would say to start with is you really need to find out more about what living and working in NYC is really like. Personally, it wouldn't be for me - many thousands of Brits and of course Americans work and love NYC but for me it will always be a place to just visit.

I will say I worked for 5 years in London (indeed, still do and will do until the 22nd of this month), and the hustle and bustle whilst it is exciting at first soon can wear you down. Again, others love it but most eventually move away from London.

If you are determined enough and willing to put in YEARS of hard work, you can absolutely achieve your dream but you need to set a pathway and stick to it.

Howefamily

Its called the IEC visa and I am sure its for those under 30. And agreed - your dream IS achievable with a plan in place

ian-mstm

... or wants to open a US branch of the business.

Ian

COSPhil

Yes, apologies - correct.

There is also the investment visa but you need alot of Wonga for that and it won't actually really get to you where you eventually want to be.

Thanks to the poster, it is the IEC visa. A quick google confirms it is 18-30, which I am assuming you are from what you have posted.

manchesterunigrad2015

Thanks for the help, I'll be applying for internships next year with Deloitte and EY - if I get them it'll give me a better understanding of whether practice is for me. That said, I wouldn't mind staying in practice, but would probably want to move away from audit/assurance and more into an advisory/CF role.

manchesterunigrad2015

I spoke to a friend last night, who's currently working for Deloitte and he said managers have been seconded to the States to work on projects on L1s but they were there in a consulting capacity rather than working as accountants, although they did hold ACAs. I'm interested in MC but graduate level positions are hard to come by - with Oxbridge dominating the big players and big4 have few positions available. Failing that, I could always work my way up to some sort of finance manager position in a firm with US presence and try a transfer that way.

But one step at a time, I'll complete my degree, attempt to get the ACA - if I pass the exams - and then see where that takes me.

Ah yes, my uncle actually lives there and he's an accountant. I've never been to Toronto so I don't know what it's like, but I have thought about it. Furthermore I believe the UK and Canadian CA bodies have agreements so it's easier to get a visa/work. NYC is only a couple of hours away as well.

christmasoompa

Yes, as said above, that's the IEC visa which is an open work permit for a year for those aged 18-30. A quick and easy option compared to anything for the US.

More like 8 hours between Toronto and NYC though, assuming you'd be driving.

IPM

Your best bet if you go via the Big4 route is to specialize early post-qualification in something complex like international tax structuring or transfer pricing; these are the areas that are most likely to lead to an international secondment at a relatively early stage of your career.

Karen68

I get fed up with the view that CIMA is somehow a second rate qualification compared to being an ACA. They prepare you for different paths. My OH is a CIMA qualified accountant who works for a FTSE100 firm in a senior position out here. Despite the 'disadvantage' that he's CIMA he's never been made redundant in the twenty odd years since he graduated as he's very good at his job. Rant over, I shall rest tonight in the knowledge that my poor OH, with his qualification that will leave him fit for nothing if he gets fired, compared to an ACA, has achieved the OP's aims (although not in New York)

Oh, OP, btw, I believe that CIMA and the CPAs now have some mutual recognition programme, but you probably wouldn't be interested in that.