So I have this dream of going to Canada and doing graduate school in accounting (hopefully at U of T) and becoming a CA, then eventually getting citizenship. So assuming that I get accepted and graduate, what would you say my chances are of successfully getting a job (most likely at CA firms) and getting permanent residency/citizenship? Any help/advice would be helpful, thanks!
Odds of accounting graduate getting citizenship
- Thread starter wayneyau1214
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It all depends upon what is the economic condition when you graduate.How good you are in your studies and how about you go to find the job. As per my knowledge Accounting is the occupation which is given priority while giving PR and lot of accountants are required in Canada as per CIC . There are other designations too for Accounting in Canada. CGA, CMA and CA n CMA bodies are coming together to come up with one more designation.
I work at a big4 Accounting firm, and was hired on a post-graduate work permit. It's doable, but don't expect an easy ride. There are some hurdles - for example as a temporary foreign worker, you can't get anything higher than a Reliability Security clearance, which can impact the jobs you can put on. Depending on your country of origin, you may need more travel visas without a Canadian passport, as you're often sent abroad for audits.wayneyau1214 said:
CA firm recruitment is highly dependent on the economy, so I wouldn't dare crystal ball into the future on your chances. If you're doing a CA, you have many more options now (you can get a CA through industry these days - doesn't even need to be a CA firm). CA recruitment is largely based on your grades (to get the initial interview), then your ability to make a good impression during the networking and interview stages.
My suggestion to you would be to work on the short term goals first, and be open to things not going to plan. Rules can change, your interests can also change, and the economy can change. Many people finish Accounting majors and decide it's not for them. I'd say for each year we recruit, about 20-25% of new hires quit audit after a year because it isn't for them. There's high attrition in this field, so keep that in mind. Focus on the short term milestones and the things you have control over (your grades, your networking and inter-personal skills), give it your best shot and you can definitely achieve the path to citizenship.
First off, thank you for taking the time to reply - I found your post extremely helpful. There are a few more questions that I have.seton said:
Are post-graduate work permits granted upon graduation or when you become employed? That said, say that I don't get recruited immediately after I graduate, how much time would I be given to find a job?
What exactly, is a Reliability Security Clearance? Would it limit the kinds of jobs that I can take on?
From an employer's perspective, which schools are you more likely to recruit from? My hope is that I get accepted into the University of Toronto, they have a Masters in Management and Professional Accounting (MMPA) program.
Regards,
Wayne
The work permit is valid for the length of your study, up to 3 years. So technically you have 3 years to get a job. However for the CEC class, you need 1 year work experience (based on current rules) so essentially you would have 2 years to get a job. There are other programs (like the PNP) which have lesser experience requirements)wayneyau1214 said:
It's the first level of a security clearance. It's a rating system used by CSIS to clear people for access to confidential documents. On many audits on any federal agency, Reliability is required to perform the audit. Reliability is mostly a criminal record and basic history check. Beyond reliability, it requires a PR/Citizenship and a set amount of time living in Canada. This may not come up in your interview, but it will be a challenge as you work your way up (especially if you work in Ottawa or an office that does a lot of government work). Additionally many companies require that their audits be staffed with people with certain security clearance levels, especially if they process government data. I just mentioned it for reference, but this may not really be an issue since there are lots of audits (majority of non-govt audits) that don't require a clearance.
Very subjective question - you will hear a wide range of answers on various forums. I'll try to be general. More prestigious schools (like U of T) tend to have better networking opportunities. In a city like Toronto, the larger CA firms would run their recruiting events at a limited number of universities, and the top school would be on the list. So it is more challenging to be hired through campus recruiting doing a degree at a lesser known university.
That said, it varies wildly what value an employer places on the school you graduate. Some people have their prejudices, some don't. I am in Winnipeg, but I know quite a few folks at our Toronto offices that did their degrees at the smaller Toronto universities (Guelph, Ryerson, etc.). Personally I believe the overriding factors are initially your grades and experience (to get your resume considered), then your networking and interview skills (to nail the interview and get an offer).
Good luck.
By the way, aside from MMPA at the U of T, does anyone recommend some well-known graduate courses in Accounting in Canada? I'm from Australia and have got a 3 - year bachelor's degree so it's nearly impossible for me to apply for MMPA at the U of T. 
Thank you very much in advance!
Thank you very much in advance!