"...plus, I have to meet the 1 year of experience requirement before I can even receive my license."
You might already know this, but just in case you don't... You don't have to work in public accounting in order to get your license. You just have to work under a CPA. I worked in public accounting for about a year but didn't have my CPA passed (still don't) so I didn't get signed off there. I now work in private accounting at a community bank and my boss, the controller, is a CPA. He will sign off for my license. I won't be able to do audits but that's fine because I hate auditing and it isn't needed for my career path. :) Unfortunately I of course still need to pass the AUD section of the exam... booooo. Taking that May 27th.
As someone who has worked in both public and private accounting, and talked to a few others who have made the switch from public to private, go private if it's at all possible. Even if you make $7k less per year, it'll be worth it. I didn't have to take a pay cut but I would have if I'd had to. I know that there are some rare individuals out there that love public accounting... but I'm definitely not one of them!
Here are some negative things about working in public accounting (at least where I worked):
1) DRAMA - people talk about others all of the time, and if there is an opportunity to stab you in the back, someone will take it.
2) Having to live in a hotel - I worked at a place that made the entry level people do both tax and audit. I lived in a hotel for about 4 months out of the year. Not fun (especially when they send you to Modesto). And it might sound nice to get away but trust me, you'll miss home. I never thought I'd miss my kitties so much. Didn't miss the boyfriend, so I got rid of him.
3) Working 10+ hours per day almost year-round
4) Being looked down upon for taking breaks
5) Having 50 different bosses - You have a manager for tax season, but you may end up doing work for other partners. Same with audit, although usually you work under several different partners during a season. Every boss has a different style. I remember on one of my reviews, my tax manager told me that I asked too many questions. Then during one of my audit reviews, I was told that I didn't ask enough questions. Talk about confusing. And I've never seen so many people come out of reviews crying.
The only two good things that I got out of public accounting:
1) Some experience
2) Hating my job so much made me REALLY appreciate my current job
Wow, I really made it sound like hell on Earth. But I guess it kind of was for me!
As for working in private accounting... I enjoy it. I still have to work overtime (though not nearly as much) but the people that I work with chose this career path because they value a work/life balance. My boss has told me to go home before when I've wanted to stay late and work on a project. It's so nice!
FAR: 71, 77
BEC: 70, 82
AUD: 62, 78
REG: 71, 68, 85
CA Licensed 11/2011
