Insights

Public accounting, both Big 4 and big local, was the key driver in my career providing the foundation for success. During that season of my life, I learned more in a concentrated time frame than at any other time in my life. I am forever grateful for the relationships, professionalism, and technical experienced gained. However, there came a time when it was right for me to make a move. It might seem counter-intuitive for a recruiter to caution you to consider staying before making a move, but that’s absolutely what I would encourage.

Some folks love public accounting and for them, it’s a career-long way of life. That’s wonderful news, but many of us do reach a point when it’s time to consider other opportunities. How can you tell when the time is right to move on versus making a rash decision out of temporary frustration? There are several metrics I like to use when counseling practitioners on this very sensitive topic, and I have summarized each below.

Does your job negatively impact your personal life?

I think all jobs can have this side effect so it is important to ask yourself if public accounting has a significantly higher negative impact on your personal life compared to other opportunities. If you are leaving public for another fast-paced, demanding, intense environment I would suggest that you can’t really expect the sting of public accounting to go away. However, if you will be working less, travelling less, having fewer high pressure times of year, and more flexibility, then a change may help.

I always advise professionals that if public accounting isn’t making you unhappy, it’s probably worth it to stay. As long as it “isn’t that bad” or you are still enjoying the benefits for your personal life of public accounting (travel club perks/excellent PTO/great long term retirement benefits), press on and keep those time sheets flowing! However, if you do reach the point where the business is impacting your relationships and straining your happiness significantly, it may be time to start looking.

Playing The Long Term Career Strategy Angle

Determining if public accounting will continue to increase your likelihood of career goals is driven by what your long term goals are. For instance, if you would be happy to be a controller in a closely held organization, it might be wise to leave with 3 years’ experience and grab a Sr. Acct/Asst Controller role that will set up nicely for a future controller role. This is because many companies want a controller with a blend of public and industry experience rather than hiring straight from public.

If your goal is an even higher level position with more complex organizations, it may pay to stay and make manager or beyond with a CPA firm. Beware: in some smaller markets, the longer you do stay in public, you become “over qualified” for some roles and can be “priced out” of the market by higher salaries public accounting can pay.

The Day-to-Day Duty Question

Lastly, think about what you like about your role in public. If you like working with staff and on site with clients day-to-day, those duties decrease the further you promote within most firms. If you like technical research, bidding on work, and being in the office more, stay in public and shoot for partner. Don’t just focus on your tasks today; think about what your tasks will be if you continue with your firm. Of course, some smaller firms still offer “hands on” work regardless of how high you promote so there is some variability in this generality.

Should I Stay or Should I Go?

The answer to this question is like most you will face in your career: it depends on your personal situation. If you are considering making a change, I’d be happy help you sort out the pros and cons of each path whether public, industry, or consulting. I’ve built relationships with folks that I have helped move on, helped to stay put, and offered practical ideas to both. Let’s connect and make sure you have all the tools in front of you to take your career where you want it to go!