[Anonymous]

So right now I work for my states legislative audit division… great job but my salary will top out at ten years around 100k…

Well I have a family member who owns a practice and wants me to buy out his partner, I would work more hours obviously but as a 50 percent partner, I would be making substantially more, like 180 after my buy in was paid off…

I’m kind of hesitant to leave a very stable state job, but can’t help but think “any other cpa would kill to be able to bring home 180 and be a partner after only 3 years experience

Any advice on what I should consider in making this decision?

[fuzyfro89]

It's a career decision. Working for the state and being an entrepreneur (running your own business) are two very different things.

If the pay was the same, which would you choose?

What amount of pay difference would there need to be for you to take on the additional stress/hours/risk in being a partner in your own firm vs. working a govt job?

State jobs are a dead end, as you have no exit opportunities except to to other govt jobs… especially as time goes on.

I know what decision I would make… but you have to decide for yourself what you want.

[Anonymous]

Biggest thing that would be a warning sign to me is the fact that it's family. Family is great, coworkers and partners can be great, but usually not great when they mix. Think very seriously about if this is someone you can handle being around 80 hours a week and trusting with your investment, because you won't always agree. Also think about how you will feel and handle it if – say – you're working 80 hours and they're working 60 and you're making the same 50% split of profits. Just try to think very carefully about whether this relationship will work out or not. It might be awesome…but it takes an abnormally amazing family situation to make it work.

[Author]

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