On Being the Youngest CPA in Virginia: A Q&A with Cody Meglio of Ernst & Young

At 16 he earned his high school diploma and at age 19 he graduated from Marietta College in Ohio with a 4.0 GPA and three bachelor’s degrees in accounting, finance and economics. At 19 he became the youngest licensed CPA in the state of Virginia.

Now 20, Cody Meglio has been working full-time at “Big 4” firm Ernst & Young, LLC in Charleston, W. Va. since last January.

I recently caught up with Meglio to talk to him about what it’s like to be one of the youngest financial professionals in the country, what life is like for him at EY and what his plans for the future are.

What’s a typical day like for you at EY?

This may sound cliche, but there is no “typical” day for me; it depends on the time of the year and what client I’m working on. In auditing, I’ve found that what you’re doing and where you are depends greatly on the time of year relative to your clients’ year-ends. For me, however, since I have clients with 12/31, 3/31, 6/30, and 9/30 year-ends, I am busy doing something year round. As a staff from a smaller office, I get quite a bit more variety in my client base and workload than some of my friends who are staff from larger offices and other Big 4 firms.

I’ve worked on clients in the coal, natural gas, banking, manufacturing, distribution, healthcare, and government sectors. For these clients, I’ve audited pretty much every balance sheet and income statement account. I’ve also done planning, execution, and reporting for these clients. Now that’s not to say I’m a one man auditing machine, but as a staff in a small office serving smaller clients, the opportunities to get a comprehensive view of a wide range of clients are plentiful. For instance, last week, I was working on location at a small government agency auditing its net assets, receivables, accruals, payables, and inter-agency accounts. This week, I am in a banking training and am also preparing the planning workpapers for a small oil & gas company audit.

What’s it like being the youngest person at EY? Do you feel like it gives you an advantage?

While I can’t confirm that I’m the youngest staff at EY altogether (although I would assume that I am), I know I am the youngest in my office – even younger than the interns this past season. I don’t really notice much of a difference in the way I’m treated, as I’m not treated any differently than any other staff. While I think there may have been some apprehensions by some coworkers at first, these quickly faded away after I proved myself as an intern. I don’t feel there’s really an advantage or a disadvantage to being younger than my peers.

Are there a lot of other young accountants working with you? Or are the majority of employers more seasoned?

Since I work in public accounting, I work with a variety of people from EY and from our clients. I work with a lot of other staff at EY and staff accountants at clients who are in their early 20s, so the age difference is not vast. However, it was much more noticeable when I interned with a smaller local firm, where I never left the office and the next youngest person in the office was my mom’s age. The only time it becomes a big factor is when it comes to “happy hours” because I’m under 21, but those don’t happen very often and my coworkers are more than understanding.

You’re the youngest licensed CPA in the state of Virginia – do you encounter any prejudices from clients because of your age?

No, not really. Most clients assume that I am 22 or 23 and just look young. When they find out I’m younger, they’re surprised, but nothing more. I usually don’t use age as an icebreaker and only tell clients if it comes up (e.g. see the happy hour situation above) or after I’ve already built a rapport. I’ve always found that clients care a lot more about professionalism and knowledge than age.

Why did you decide to go into accounting? Did you consider any other careers?

I’ve always been good with numbers, but never enjoyed science. Accounting, finance, and economics (my three college majors) always seemed like a perfect fit for me. While finance and economics are my passions, the job market is very soft in those areas. I really like accounting and think a fundamental understanding of accounting, financial reporting, and financial analysis are essential for a potential future career in finance. Therefore, I decided to become an auditor for the best of the Big 4 firms (in my opinion, of course) to expand my knowledge, build my network, and gain experience.

Despite the long hours and frequent travel, I enjoy my job and don’t see leaving any time soon. When I was really young (elementary school), I thought about the military since both my brother and brother-in-law were Marines and my dad was a high school history teacher who got me fascinated in WWII and the military. However, after hearing about the experiences of my relatives in Iraq and considering my other interests, I decided to take a different path.

Do you plan on getting a graduate degree? If so, what would you get it in?

I am considering going to business school for an MBA down the road, but if I choose that path, I would certainly wait a few years so that I can get into a top program. I only see value (for me) in getting a top MBA since I now understand the power of the brand name and the connections that a top school will offer. While I will pit my alma mater against any major school when it comes to academics, it has no name recognition.

I went to a small liberal arts college in my home town on a full scholarship, but had to fight tooth and nail to land an interview at major firms because of the small alumni network and the lack of on campus recruiting. While I had a great experience there, I might think twice before doing the same thing again. I am interested in law, but to me, the economics of going to law school just don’t make sense. Hundreds of thousands in tuition and three years off work for a job with a longer hours and only slightly more pay doesn’t seem like a good bargain.

Are you planning on any other certifications or accreditations for your CPA career?

I am currently studying for the CFA (Chartered Financial Analysts) exam, which I will take this December.  I am really interested in finance and want to take this exam to prove my mettle in finance and allow me to get my foot in the door should I choose to take that path down the road.

What do you like to do in your free time?

I have a number of different hobbies, including traveling, reading, watching movies, cooking, and taking pictures. Unfortunately, between working and studying for the CFA exam, I don’t get much of an opportunity to do them.