It’s the Holy Grail for many accounting students: a position with one of the “Big Four” accounting firms — Deloitte, PwC, Ernst & Young, and KPMG — widely recognized as the largest professional services networks in the world. In 2016, they earned a combined revenue of $128.2 billion through work in auditing, advising, consulting, tax services, and more.
Deloitte is the largest of the Big Four in terms of revenue ($36.8 billion in 2016) and number of employees (244,400) — the latter figure receiving a boost from a growing number of Owls who recently joined Deloitte’s Stamford, Conn., office as interns and full-time employees.
“Once I became an accounting major, my only goal was to work for a Big Four firm. The goal now is specifically [to become] a partner at Deloitte,” says Kayla Seminoro, ’17, who graduated from Southern with a degree in business administration and a concentration in accounting. In September, she moved closer to realizing that dream, joining Deloitte as an audit assistant after interning there.
Her interest in accounting came relatively late in her college career. After transferring from Central Connecticut State University, she took her first college-level business course at Southern — an accounting class taught by Janet Phillips, professor of accounting and chair of the department. Several years later, Phillips recommended that Seminoro apply for an internship with Deloitte.
“The best advertisement for Southern’s accounting program is definitely our students,” says Phillips. Her confidence in Seminoro was well placed. After interviewing online and in person, she was selected for the highly competitive internship, which began at Deloitte University, The Leadership Center, a 700,000-square foot training facility in West Lake, Texas. She was then assigned to a client-team, receiving extensive real-world experience. “Deloitte values the importance of networking and making genuine connections with the professionals around you. This is one of my favorite aspects about both the firm and my internship experience,” says Seminoro.
Such positive feedback is icing on the cake for Lori Charlton, a partner at Deloitte based in its Stamford, Conn., office. Southern flashed on Charlton’s radar screen several years ago when she was working with an especially talented young colleague. “I asked her where she went to school, and she said Southern,” she says.
Soon after, Deloitte made its first campus presentation. “We had a very good turnout. The students were well-dressed and well-prepared, with resumes in hand. They asked great questions and were very enthusiastic,” says Charlton. “The faculty also came, showing a lot of support for their students and for us being there.”
In September 2017, Deloitte made its fourth campus visit — and many Southern students now know a classmate who’s interned or become an employee there. “They’ve been terrific,” says Charlton of the students and alumni who’ve received offers in both the audit and tax practices. “They interviewed very well and were very competitive. . . . It’s been a great success from my perspective. We’re really encouraged by our partnership with the university and want to keep the relationship going.”
Deloitte rates first among accounting companies for formal training, according to Vault, which annually ranks firms on numerous criteria. The services provider also finished among the leaders in the “prestige” and the overall accounting categories.
Muhamad Chowdhury, ’16, knew of Deloitte’s reputation. Before graduating in December, he’d explored different career options, including a potential winter internship with the organization. But after an in-depth interview process, Deloitte offered him a full-time position as an audit assistant in financial services. He started in January 2017.
His success comes after a period of intense struggle. In 2014, Chowdhury was a full-time junior at the University of Connecticut, among the first generation in his family to attend college. His parents both immigrated from Bangladesh to the U.S., where they built a successful life operating several Subway franchises in the Wallingford and New Haven areas. Then the family patriarch became seriously ill. Chowdhury left UConn, returning home to help run the family business. He also enrolled at Southern — working full time, attending school full time, and commuting. “It came out of a difficult situation, but I have to say it was the best decision I ever made,” he says.
At Southern, he majored in business administration with a concentration in economics — a program he says develops a comprehensive understanding of the business world. He also volunteered with the campus VITA (Volunteer Income Tax Assistance) program, which helps those with low-incomes, disabilities, and limited English. “My career is not in taxation, but the knowledge and experience I gained translate to any business environment,” he says of the program overseen by Frank Bevvino, associate professor of accounting.
Today, things are looking up. His father has recovered, and Chowdhury’s transition to Deloitte has been remarkably smooth. “After working for Deloitte for six months, I can absolutely say that this was the right decision for me. It’s been priceless in terms of the experience and many benefits,” he says.
Lubna Sparks, ’17, also transferred to Southern — and says her interest in Deloitte peaked after the organization made a presentation to the SCSU Accounting Society. After interning at the company last year, she’s been offered a full-time position. But she asked to remain an intern while preparing for her examinations to become a Certified Public Accountant (CPA) — a request Deloitte honored.
A fellow graduate of the Class of 2017, Louis Signor is preparing for his CPA examinations as well. It’s a welcome development for the talented alumnus who had worked at Home Depot for about six years when, in 2016, his position as an asset manager was eliminated.
“I’m not a typical student,” says Signor, who graduated from Southern at the age of 29. He’d attended Utica College right after high school, but didn’t return after his first year. Instead, responding to his father’s request to “get a job,” Signor applied at Home Depot — and steadily moved up the corporate ladder. Armed only with a high school degree, he ultimately found himself overseeing asset protection for all stores in the Norwalk, Conn., and New York Metro area — a market grossing $105 million.
“At the age of 24, I had a really good job making much more money than I thought would be possible,” says Signor. A watercooler conversation with coworkers changed his perspective. “The general consensus was that they felt stuck. They were paid well. It wasn’t a bad situation, but they didn’t have alternatives,” he says. He began attending Southern part-time, using Home Depot’s tuition reimbursement benefits. Then in August 2016, Home Depot underwent a corporate restructuring and his position was eliminated. Signor took the compensation package and, as a Southern senior, began attending the university fulltime for the first time ever.
In May 2017, Signor became the first in his family to earn a college degree, graduating magna cum laude. He interviewed with six employers and received five job offers — including one from Deloitte. He started in September.
Deloitte consistently earns top ratings for its formal training program, a benefit experienced firsthand by a growing number of Owls, including four who participated in coveted summer internships in 2017. The interns — all business administration majors with a concentration in accounting — are students Luke Velez, Lyman DePriest, and Brooke Davis, and alumnus Nicholas Intino, ’17.
Velez and DePriest completed Deloitte’s Discovery Internship, with time spent exploring two company functions — audit and tax services. The hands-on learning kicked off at Deloitte University, the Leadership Center, in West Lake, Texas, where they connected with other high-achieving students from around the U.S.
“Before heading to Deloitte University, I heard so much about it that my expectations were through the roof. . . . Those expectations were met,” says DePriest.
During one team-building exercise, the students were placed in groups and challenged to develop a presentation. DePriest’s team took first place out of 25, earning an assortment of Deloitte gear. The victory was particularly sweet for DePriest. His team’s presentation focused on a startup mobile application that he is developing (myhypeeye.com) — Here Are Your Parties and Events Everywhere.
Looking forward, there is certainly a lot to celebrate. After completing their summer 2017 internships, Intino and Davis received offers to join Deloitte’s audit practice. Meanwhile, Deloitte’s Discovery Internship will continue for DePriest and Velez. Both chose audit as their area of focus and are invited to intern with Deloitte again: Velez in summer 2018 and DePriest in the winter. “It’s a very unique experience because it allows you to get a glimpse of both aspects of accounting to possibly steer your career decision-making before you graduate,” says DePriest.
Southern senior Yenny Bayas, who interned with Deloitte in the winter of 2017, agrees, noting the experience confirmed her career aspirations. Although she’s wanted to study business since high school, she was unsure what specialization to select. But she loved her accounting classes — and a trip to a major European accounting conference with Robert J. Kirsch, professor of accounting, and three other Southern students cemented the deal. Southern was the only college or university from the U.S. at the event. “That’s where I really fell in love with accounting,” says Bayas. “But my internship at Deloitte made that even clearer.”
Like the others who won internships after completing several rounds of interviews, Bayas is a hard-working, high-achieving student. She — and classmate Velez — are School of Business ambassadors, two of only nine in the selective leadership program. At the age of 23, she has also been a licensed realtor for several years. In sum, Bayas — a native of Ecuador and a first-generation college student — is no stranger to a challenging workload. Still, she concedes that her Deloitte internship, conducted during the busy tax season, was very intense at times. “I loved the challenge,” she says.
In terms of a future career, she says being an accountant who specializes in real estate would combine her passions. But she’s also drawn to audit services. “I like that you are with a team and that you are investigating,” says Bayas. “You see the financial statements, think about the facts and numbers, and combine them into the story to make sure it all makes sense. I discovered that I really enjoyed that at Deloitte — and that’s one of the things I loved most about my internship.”