I've been in accounting for about 10 years and the CPA along with public accounting is pretty much necessary if you want to get anywhere. Even for solid senior or assistant controller jobs at desirable firms both are going to be required.
I have the CPA but never worked in public and it's definitely closed a lot of doors (though I make good money and don't have a hard time getting jobs). I got a job at a major hedge fund right out of school and have been stuck in asset management since. Again, even with 10 years of specific industry experience at very well know firms a lot of doors are closed to me without public experience.
From time to time I interview junior level people and always tell them to do what they have to do to get that first job in public accounting.
I guess for anyone, it's best to read job ads for the job you eventually want and study the requirements. Then make sure you're checking those boxes along the way.
I have the CPA but never worked in public and it's definitely closed a lot of doors (though I make good money and don't have a hard time getting jobs). I got a job at a major hedge fund right out of school and have been stuck in asset management since. Again, even with 10 years of specific industry experience at very well know firms a lot of doors are closed to me without public experience.
From time to time I interview junior level people and always tell them to do what they have to do to get that first job in public accounting.
I guess for anyone, it's best to read job ads for the job you eventually want and study the requirements. Then make sure you're checking those boxes along the way.