An Interview with

CharlesNiemeier

At the Frontline of Investor Protection

Subprime Meltdown Implications • Closing the GAAP Gap • Educating with VITAPLUS

PCAOB board member

DECEMBER 2008 / THE CPA JOURNAL66

By George Violette and Douglas Chene

Accounting firms are displayingimpressive revenue growth, creat-ing increasing demand for entry-

level staff. The CCH Young AccountingProfessionals Survey published inMarch 2007 showed that growth in2006 was the highest since 2000. Atthe same time, the report notes thatbaby-boomer accounting profession-als are retiring in numbers likely tooverwhelm the relatively smaller poolof new graduates entering the pro-fession. A recent article in The CPAJournal noted that this trend has cre-ated intense competition amongaccounting firms vying for the mosthighly qualified students graduatingfrom accounting programs [Bruce(Harv) Busta, D’Arcy Becker, P. JaneSaly, Richard S. Sathe, and KateMooney, “Effective CampusRecuiting: The Faculty Perspective,”July 2007]. The most recent AICPAsurvey on the demand for public account-ing recruits suggests that the competitioncontinues to be intense, even in the currenteconomy. A vast majority of smaller firmsreported that they planned to hire the samenumber of or more graduates in 2008–2009(Dennis R. Reigle, et al, “2008 Trends inthe Supply of Accounting Graduates andthe Demand for Public AccountingRecruits,” AICPA, 2008).

Accounting Firms SurveyThe authors conducted a study in

which they questioned various accountingfirms on their recruiting and interviewingmethods. The results of this study shouldassist local and regional firms in evaluat-ing their recruiting approach and compar-ing it against others. The study is alsomeant to aid students who are not awareof even the basics of the recruiting and

interviewing process by teaching themwhat prospective employers are seeking insuccessful candidates and providing themwith the advance preparation needed tomake the best possible impression onrecruiters.

A sample of six public accounting firmsthat recruit students on the authors’ uni-versity campus was selected. To providea diversity of firm sizes, two multistateregional firms, each with 150 to 200employees, and four local firms that rangedin size from about 15 to 65 employees,were surveyed. The authors interviewed theindividual at the respective firms respon-sible for campus recruiting: four firm prin-cipals and two senior managers. Exhibit 1presents the questions that were asked inthis study. Respondents were first asked toanswer a broad overview question to deter-mine the most important general charac-teristics sought in new hires. The surveyquestions then focused on the pre-interviewprocess, such as how firms identify whichcandidates to interview, the interview pro-cess itself, the second-interview process,and the final selection and offer.

What Is Desired in a New Hire?Although there was a wide range of

characteristics that recruiters were lookingfor in new hires, three areas stood out:leadership potential, strong interpersonalcommunication skills, and enthusiasm and

motivation toward the profes-sion. Evidence of leadershippotential might be assumedthrough participation in officerpositions in campus studentorganizations, such as the stu-dent accounting society, aswell as serving as a captain ona sports team in college or highschool. Written communica-tion skills are ascertained, inpart, through the examination ofthe candidate’s cover letter andresume, which demonstrates thecare students should take in con-structing these documents. Oralskills are carefully assessed inpre-interview receptions and inthe interview process.

Students should be prepared to demon-strate their interest in and knowledge of theprofession in their cover letter and during theinterview process. They should take advan-tage of various resources available to assistwith their job search. Career services pro-fessionals can be very helpful. Most schoolsoffer help with writing resumes and coverletters and improving interviewing skills. Forassistance, students can attend workshops orschedule individual appointments with careerservices. Online resources can also providetips and advice. The AICPA offers help on“Becoming a CPA” through their website(www.aicpa.org), where students can learnmore about career paths, hiring trends, andjob search tips. The surveyed employers allstressed the importance of the potential hireshowing some knowledge of the firm at theinitial interview. Candidates can peruse afirm’s website to find essential information

Campus Recruiting: What Local and RegionalAccounting Firms Look for in New Hires

R E S P O N S I B I L I T I E S & L E A D E R S H I P

f u t u r e o f t h e p r o f e s s i o n

that will demonstrate this knowledge andinterest.

Pre-interview ProcessAccounting firms seek to identify and

interview those students who embody thecharacteristics described above. This deter-mination is made through a careful read ofthe applicant’s cover letter, resume, andtranscript. A well-written cover letter isvery important to most firms, since it is thestudent’s opportunity to show strong writ-ten communication skills and enthusiasmfor the profession in general and the firmin particular. A well-written letter intend-ed to make a student stand out must gobeyond a general, job-seeking statement. Itshould show initiative and enthusiasm.

Recruiters generally prefer a one-pageresume, unless the student has substantial rel-evant work experience to present whichrequires a second page. Nevertheless,recruiters emphasize the importance of a well-organized and typo-free resume, rather thanthe importance of the overall length. Thereis no need to list references on the resumeor make the obvious statement that “refer-ences are available upon request.” Instead,students should prepare a separate referencelisting that they can give to the interviewerif asked. Students should identify and ask per-mission of faculty, employers, and others toserve as references, but there is no need forletters of reference to be prepared. If arecruiter wants information from a reference,the preference is generally for direct contactvia telephone or e-mail.

Recruiters look for evidence of solidgrades in accounting and business courses.Generally, they prefer an overall GPA of 3.0or higher. Each recruiter surveyed waswilling to interview students who do notmeet this threshold, as long as the studentscan provide a reasonable explanation of whytheir GPA is lower. Nevertheless, allrecruiters still insisted that the intermediateaccounting series grades must be a “B” orhigher, even if the overall 3.0 GPA is missed.The cover letter gives students with lowerGPAs the perfect opportunity to convincepotential employers that they do have theskills the employer seeks.

Most recruiters look for evidence ofleadership and initiative, as stated earli-er, such as being an officer in studentaccounting groups, a captain of a sportsteam, and participation in volunteer activ-

ities. They want someone who is activeand involved. Most would prefer thatpotential hires complete their 150-hourrequirement by graduation, though giventhe current competitive hiring environ-ment, all quality candidates will receiveoffers. Those applicants who will not havecompleted their 150 hours by graduationshould discuss their plans to meet thisrequirement.

Prior relevant work experience, includ-ing internships, is not expected but is usual-ly a plus. If a student has worked many hourswhile taking a full course load at schooland maintaining volunteer and familyactivities, this should be conveyed to theprospective employer. Even if the work isnot directly relevant, participating in theseactivities while handling school responsibil-ities and other obligations demonstrates thatan individual is organized and balanced.

Four out of the six firms surveyed helda pre-interview reception: Three held it attheir offices, and one held it on campus.The other two firms had held such recep-tions in the past, but did not find them use-ful in their decision process.

The four firms use attendance at thereception to help gauge how interested stu-dents are in their firm. The expressed goalsof the reception for the three firms hold-ing it at their offices was to present the firmand its environment, to give students a feelfor the personality and culture of the firm,and to give students a chance to envisionwhere they would work. All three firmshave students tour the office, with youngcurrent staff acting as guides. Two of thefirms provide a “five-minute” informaloverview presentation of the firm, whichis usually given by the recruiting principal.

All four firms stressed the importance ofthe students dressing well, giving a firmhandshake, and making good eye contact inconversations at the reception. Recruiters arelooking for clues to the students’ personal-ities and interpersonal skills, includingtheir ability and comfort in asking andresponding to questions. The receptionalso allows firms to gauge real interest. Mostfirms take feedback, either formally or infor-mally, from the staff in attendance todetermine “Who impressed? Who didn’t?”

The Initial InterviewMost interviews last about half an hour.

The style of interview varies greatly among

the firms surveyed. Some follow a pre-pared set of questions, while others askassorted open-ended questions and “go wher-ever the interview takes them.” All inter-viewers expect the student to arrive ontime, display the right interpersonal cues, andshow genuine interest in their firm. At a min-imum, students are expected to have visitedthe firm’s website and be informed about thebasics. The interviewers’ attempts to deter-mine how serious the student is about theirfirm is based upon the questions students askand their firm-specific knowledge.

67DECEMBER 2008 / THE CPA JOURNAL

■ What are you looking for in a newhire?■ How do you determine who youare going to interview?■ Does your firm hold some sort ofa pre-interview reception forprospective interviewees?■ How do you conduct your interview?What are you attempting to learn?What is expected of interviewees? ■ Who makes the decision to invite acandidate to a second interview?What is the process at this interview?■ Who makes the decision toextend an offer? How is it conveyed,and what are your expectations?

EXHIBIT 1Questions Asked in This Study

■ “Tell me what you think aboutpublic accounting.”■ “What do you think your work willconsist of at our firm?”■ “Why are you interested in thisfirm? What do you want to knowabout us?”■ “Tell me about yourself.”■ “Where do you expect to be inthree to five years?”■ “Describe an example where youdisplayed leadership.”

EXHIBIT 2Examples of Typical Interview

Questions That Might Be Asked

Students should come to the interviewhaving prepared thoughtfully in advance.They should have done their homework onthe firm and pondered typical questions thatmight be asked, such as those listed inExhibit 2. Students should also come pre-pared with their own set of questions whichdemonstrate that they are informed andinterested in the profession and the firm.Exhibit 3 lists some potential questionsfor students to consider asking prospectiveemployers. Students should understand thattheir goal at this first interview is to makea strong enough impression that they willbe asked to a second interview.

Second Interview The recruiter or interviewer generally

determines which candidates will receive asecond interview. In many cases, the man-aging principal or human resources manag-er (at larger firms) will provide input, butgenerally the recruiter makes the decision.The student is often contacted by telephoneby the recruiter and invited to the secondinterview to be held at the firm’s offices.

The second interview process variesamong firms. Some have a very structuredprocess, while others just have the studentmeet whoever happens to be available.Some firms have recruits meet only withthe managing principal for a one-hour inter-view; others have a more formal schedulewhere the candidate will spend a few hoursmeeting several members of the firm,including principals and staff at various lev-els. Some firms take the candidate out tolunch, usually accompanied by relativelynew staff. Other firms use written assess-ment instruments as supplements to obtain

additional information about the candidate.The Wonderlic general intelligence test isused by two firms, and a personality pro-file test is used by one.

The on-site interview is a chance bothfor the firm to sell itself to top candidatesand for candidates to show why they area great fit for the firm. Candidates shouldarrive on time—if not early—dressappropriately, and be prepared with addi-tional questions to ask and a solid knowl-edge of the firm that shows their interest.The on-site visit is a chance for studentsto learn a bit more about the firm’s “per-sonality” and how that personality fits withtheir own. Students can see how formalor informal the atmosphere is, what peo-ple wear, how offices are set up, and soforth. If they are able to meet with multi-ple levels of staff, they have the opportu-nity to see what the firm’s expectations areas employees move up in the firm.

The OfferThe decision to make a student an

offer is generally made by either the man-aging principal or the recruiting principal.For some particularly impressive candi-dates, offers may occur “on the spot” atthe end of the second interview. Mostoffers, however, are conveyed by telephonea few days later, by either the recruiter ormanaging principal. Students are typicallygiven 10 days to two weeks to respond.Firms would prefer an oral acceptance atthe time of the offer, but realistically theyknow that most students are interviewingat multiple firms and will need time tomore fully consider their options beforemaking a final decision. If a highlysought candidate needs more than the usualtime provided for response to an offer,most firms are very willing to extend thedeadline.

Employers want students to weigh theiroptions and make a good decision, not ahasty one. They want students who trulywant to be with their firm. Students shouldnot be afraid to delay an acceptance for areasonable time, especially if they are sin-cerely interested in multiple firms and needtime to weigh the facts. Students must letthese prospective employers know they areinterested in the offer and will get back tothem as soon as possible. Employers under-stand that prospective hires may need toseek input and advice from their family

or professors. If a candidate is not inter-ested in a firm for whatever reason, firmsappreciate knowing that so they canmove on to another potential hire.

Not all students will be part of the ini-tial offer calls. Some will be “on hold.”Others will not be selected at all. For thosenot selected after the on-site interview, allthe firms surveyed send a letter letting stu-dents know they were not selected andare no longer under consideration. A stu-dent who has received neither an offernor a rejection letter should not get dis-couraged. Offers may yet be forthcoming.Most firms have a limited number ofopen slots and interview at multiple col-leges. They must therefore wait forresponses to outstanding offers. Often, sev-eral firms compete for the same individu-als, so firms that do not hire those studentsreceiving initial offers often follow up withoffers to other highly regarded candidates.Students should remember that it is irrel-evant whether they receive the first offerfrom the firm or the last, because ultimatelyfirms only make offers to the candidatesthat they believe will be successful.

All firms surveyed welcome questionsregarding offers made and are willing toclarify and respond to any concerns. Mostare open to salary negotiations, but becausefirms have already conveyed what theybelieve to be a fair offer, a large salarybump is unlikely. At the entry stage of acareer, the quality of training, work expe-rience opportunities, and mentoring sup-port are more important than dollars.

With the increased demand for newaccounting talent, campus recruiting hasbecome critical to accounting firms’ strate-gies in attracting the talent necessary tosustain the revenue growth that has occurredin the past six years. In addition to helpingaccounting firms structure their recruitingand interviewing processes, the authors hopethat the information provided by this studywill help demystify the recruiting process forstudents, especially those with limited busi-ness and interviewing experience. ❑

George Violette, PhD, CPA, is a profes-sor of accounting, and Douglas Chene,PhD, CPA, is an assistant professor ofaccounting, both in the department ofaccounting and finance at the Universityof Southern Maine, Portland, Me.

DECEMBER 2008 / THE CPA JOURNAL68

■ “What sets your firm apart fromthe others?”■ “What does it take to succeed atyour firm?”■ “What kind of work will I be doing?”■ “What kind of training and men-toring do you provide?”■ “What types of clients do you have?”■ “Describe the firm’s culture.”

EXHIBIT 3Examples of “Good” Questions

Candidates Might Ask in an Interview