Alberto Cruz Ruiz is paid well.
Months before graduating from Cal State Northridge (CSUN) with a bachelor’s degree in professional accounting, he was recruited by Ernst & Young to work as an accountant in their Los Angeles office.
Ernst & Young, now known as EY, is one of the “Big Four.” These companies are the largest and most prestigious professional services networks in the world.
The profession of accounting is a mystery to many people. They may think of an accountant as someone who works with clients on their personal income taxes. While this can be true, there are many other types of accountants, such as Alberto.
Alberto began working at EY in 2022 as a “staff,” which is an entry level professional position. He was recently promoted to the level of “senior.”
Alberto loves challenges, complexity and variety. That’s the world he inherited at EY. He works mostly with private equity entities called “funds,” which are pools of money set aside by investors for a specific purpose, such as providing loans to other companies.
EY’s clients are financial services organizations, such as hedge funds, private equity companies, investment banks, and insurance companies. Alberto’s primary focus is on private equity companies.
But Alberto doesn’t work alone; he is a member of a number of teams, each focused on an individual client.
Alberto’s main role is applying tax rules and regulations to a company’s financial statements in order to present the finalized tax income or loss to each client. In some cases, EY staff prepare a client’s returns and provide related services.
WHAT DO YOU LIKE MOST ABOUT YOUR WORK?
That it’s very challenging. You’re learning something every day. There’s so much variety. There’s so much complexity that you need the ability to learn and adapt. Every year I’m there I’m growing as a person. I feel a sense of accomplishment. I’m able to take on more. I don’t like being stagnant, and I’m not.
WHAT’S THE MOST DIFFICULT PART OF YOUR JOB?
Communication. My job as I move up isn’t only to train the people below me but also to communicate what’s happening in the fund to the rest of the team and to the client.
WHAT WAS YOUR PATH FROM HIGH SCHOOL TO EY?
I attended a high school that specializes in business. Then I took a lot of business classes at Los Angeles City College (LACC.) And finally I transferred to California State University at Northridge (CSUN) as a business major. But it wasn’t as straightforward as it sounds.
YOU HAVE BENEFITTED FROM DACA, SHORT FOR “DEFERRED ACTION FOR CHILDHOOD ARRIVALS.” HOW DOES DACA HELP YOU?
I attended a high school that specializes in business. Then I took a lot of business classes at Los Angeles City College (LACC.) And finally I transferred to California State University at Northridge (CSUN) as a business major. But it wasn’t as straightforward as it sounds.
WHY DID YOUR PARENTS COME TO THE US?
My parents came here for financial reasons. My dad didn’t like the types of jobs available in his small town. He learned in Mexico that people who migrate to the US earn far more money.
My father came here by himself. When he arrived in the US, he lived with family members and others from Mexico. He has always tried to find ways to save money. For example, he ate at the restaurant where he worked, and found the least expensive ways to travel around the city, such as walking, biking and taking public transportation. My dad has worked consistently since he arrived.
AS A TEENAGER YOU ATTENDED DOWNTOWN BUSINESS MAGNET HIGH SCHOOL. WHY?
My sister was the one who signed me up to attend Downtown Business Magnet High School. My high school introduced me to accounting, to Ernst & Young and most important, to my future wife, Karina.
I learned basic accounting at my high school: going from journal entries to a completed trial balance.
WHY DID YOUR SISTER ENCOURAGE YOU TO ATTEND A BUSINESS-ORIENTED HIGH SCHOOL?
My sister has always loved business. She wanted to open up some sort of business, like a restaurant.
YOU HAVE BEEN GREATLY INFLUENCED BY YOUR MOM AND DAD. WHAT WAS THEIR INFLUENCE?
My family didn’t have much money. My mom would sell whatever she could. This included CDs, food products, and beauty supplies. She would take me with her.
Our mom always finds a way to provide for her family. I see her put herself out there, even when she’s uncomfortable. She’s always positive. She always has a good attitude. Our mom’s a strong, strong lady. Her determination, such as working long hours in restaurants, is what I admire.
My parents’ long-term aspirations about building a business, such as opening a restaurant, piqued my interest in business.
TELL ME ABOUT YOUR DAD.
My dad always has words of wisdom; he tries to give me life lessons. I have taken many of these and tried to apply them. He talks to us about being proud of our culture. Culturally we’re known as hard-working people. I should work hard and be proud of it, he tells us. And I am proud.
“As long as you’re consistent, you can reach your goals.”
YOU ENJOYED RUNNING TRACK IN HIGH SCHOOL.
During high school I mostly focused on cross country, but I also ran four marathons and ran track. I loved it. It motivated me. I would often run three times a day.
Finishing a marathon is a very challenging goal and takes a lot of preparation over a long period of time. When I finished the first one, my time was around 5 hours. I finished the second marathon in 3 hours and 50 minutes. I finished my third marathon in 3 hours and 30 minutes. And I finished my fourth marathon in 3 hours and 19 minutes.
As long as you’re consistent, you can reach your goals.
YOU ATTENDED LOS ANGELES CITY COLLEGE (LACC.) WHAT DID YOU LEARN THAT WAS ESPECIALLY VALUABLE?
I wanted a degree in business management before I decided on accounting,
I learned that “accounting” is a very general term. It can be divided into various services, such as tax services, auditing services and consulting services.
One of my first accounting classes was “financial accounting.” We were reading financial statements. I learned that if I ever wanted to run a business, the best way I could understand a business was through reading its financial statement. It was eye-opening.
We learned that one of the many purposes for providing financial statements to stock holders is to inform them about the current state of a business.
How stocks work captivated me. The idea that they represent ownership in that company fascinated me. Stocks would give me a sense of ownership.
YOU BEGAN RESEARCHING INVESTMENT.
I began diving into the financial world, including investment.
The most impressive thing was learning the power that investing has if you do it for a long period of time. I could take the energy that I put into my job, turn it into money, and when I invested it, that money would compound. In other words, grow and keep growing.
It gave me the sense that my efforts would be worth it over the long term. While I was in high school, I had a couple of minimum wage jobs. I realized that working at jobs that paid a minimum wage would mean working from paycheck to paycheck, and not enable me to provide for my family. Or to retire comfortably.
OWNING STOCK BECAME VERY IMPORTANT TO YOU.
I started purchasing a variety of stocks when I was 23. Later I decided to invest mainly in tech. I made certain sacrifices—I became more frugal–in order to be able to purchase stock.
AFTER A COUPLE OF YEARS AT LACC YOU HADN’T FIGURED OUT WHAT YOU WANTED TO DO IN LIFE.
That’s right. So I kept taking classes. I took my time in order to evaluate my options. I thought I wanted to go into business management, but I had non-business ideas too. I wanted to be a chef since I like to cook. I took a class in psychology. Maybe I would become a therapist.
YOU TRANSFERRED TO CSUN AND MAJORED IN BUSINESS.
At CSUN I studied the broader implications of accounting.
YOU HELD VARIOUS JOBS BEFORE GRADUATING FROM CSUN. WHAT WERE THEY?
During high school I worked at a ballroom. I used to be one of the waiters–set up, clean up after the parties. I also worked 10- to-11-hour days at a sushi restaurant on the weekends.
During my years at LACC, I worked various jobs–at a Boba shop, for Whole Foods, others.
BUT AT CSUN YOUR JOB WAS RELATED TO YOUR FIELD.
Yes, at CSUN I worked for VITA, which is short for Volunteer Income Tax Assistance.
VITA is located on the CSUN campus. They get funding from the IRS. It’s a free tax preparation service for the local community.
The first year, I worked as a volunteer. The second year, I was half volunteer and half paid. The third and fourth year, I was a paid employee.
The experience I received working for VITA was more important than the money I earned. I learned to manage my own team. I ran two sites. I finalized their returns for clients. I also presented on behalf of VITA to inform the general public about the services VITA provides.
I helped to run the operations of VITA. This was one of the reasons EY was interested in me. When I applied, I highlighted the fact that I had grown in the position: from supervisor, to lead supervisor, to operations supervisor.
YOU TOOK THREE BUSES AND TWO TRAINS FROM YOUR SOUTH GATE HOME TO CSUN. HOW DID YOU DEAL WITH YOUR COMMUTE?
I tried to condense my schedule into as few days as possible. At home I stayed up late to study. When there was traffic, my commute was as long as three hours each way. The commute provided the opportunity to rest and study. It was inconvenient but not terrible.
HOW DID YOU MANAGE YOUR TIME?
Managing my week required planning. I worked during the weekend and studied during the days that I didn’t commute to school. On the days I did go to school, I would get up at 5am or 6, leave my house at 6am or 7, arrive at CSUN by 9am, and go to class from 9am until 6pm or 7. Those days were filled with class, after class, after class. Afterwards, I would commute back home and usually rest.
HOW DID YOU MANAGE STRESS?
I used to run a lot. Running reduced my stress. I used to talk with my sister about how she dealt with her stress. My girlfriend, Karina, was very understanding about my school priorities and time constraints.
I would look at my difficulties in context. I would compare my difficulties to what my family dealt with throughout their lives. They endured much greater challenges than I did. Their struggles were more intense than mine. It made me feel privileged to have my struggles and not theirs. That helped me be grateful as opposed to feeling a lot of stress.
WHAT WERE THE ADDED BENEFITS OF BEING ON CAMPUS?
I started seeing results really fast once I decided to pursue accounting. I tried to get other people to study with me because I learned the best that way. I took advantage of tutoring services.
For me to be successful in school, one of my strategies was to network with students. We all had the same classes and studied together. I would request advice on how to succeed. Later I used networking skills to get a job, and I continue to use these skills to advance my career.
IS IT FAIR TO SAY THAT ONE OF YOUR GREATEST INSPIRATIONS HAS BEEN KARINA?
Yes, Karina has been an inspiration since she and I met in our ninth grade English class.
In high school I was focused on two things: Karina and running.
My education wasn’t super important to me during high school. My GPA was 2.5 or lower. I did decently in most classes because that was required in order to be part of the running team.
But once I graduated from high school it became super clear to me that education was necessary, something that I needed to commit to. I needed to figure out a way to provide for myself, my family and Karina. I wanted to be someone Karina could rely on. I wanted to be there for her financially. This was one of the factors that drove my decisions.
In June 2024 we eloped. Now we’re planning to marry through the church in order to include our families.
“At some point the fear of losing opportunities became stronger than the fear of failing.”
WHAT ARE SOME OF YOUR REGRETS?
I regret not doing certain things because of fear. There were times in college that I became paralyzed. I feared failure. Not being good enough.
There was a series of steps I needed to take in order to have the best chance of getting a job at one of the “Big Four” accounting firms. However, I didn’t fully take advantage of my time and opportunities in the beginning. I should have acted sooner.
But at some point the fear of losing opportunities became stronger than the fear of failing.
WHAT’S YOUR ADVICE FOR YOUNG PEOPLE?
I recommend that students seek to have a “growth mindset.” That they distinguish between a “fixed mindset” and a “growth mindset.”
People with a fixed mindset often believe that they are either good or bad at something based on their inherent nature rather than their efforts. They may ask themselves, “Why should I even try because I’ll never be successful?”
A growth mindset is a belief that your abilities can be developed with dedication and hard work.
Grit is a big aspect of a growth mindset. I learned this from Carol Dweck, a psychology professor at Stanford University. In one of her books she writes: “Grit is the combination of passion and perseverance in the pursuit of long-term goals.”
If you have a long-term goal, look for successful people who have similar values and similar definitions of success. Learn about their careers as they have progressed through the decades.
Also learn about how they have dealt with failure. Because failure is a part of the process.
Accept that at certain points you will not achieve what you want. But if you are consistently trying over a long period of time, you will improve the likelihood of succeeding.