October 7, 2019 at 11:17 pm #2742699
CPA is a WIPParticipant
As of late of I have had a lot weighing heavily on my mind, and this is one of them. I am meeting expectations at work and I aim at achieving better results and learn as much as I can. However, I was let go from a tier-two firm about 2 years ago; that experience has made me question job security in this profession. I have about 4 years of accounting experience w/o the CPA. I currently work for a very small company as 1 of 2 accountants and a ap/ar clerk. I have friends in the healthcare profession, i.e. physical/occupational therapist, physician assistant and lastly a nurse. They all say how much job security they have and how they can choose to work super close to home. The PT and OT have a 10 minute commute while the others have a 20-minute commute; compared to my hour commute one-way. And to boot, they also can choose limitless places of employment such as schools, hospitals, nursing facilities, self-employment….with superb job security. All those perks have sparked an interest in their careers.
Needless to say, I have lost sleep over job security and it has created anxiety. As a single father at 37 y/o, that thought makes me ill to my stomach. I at times wake up at 3 or 4 am and just watch my son sleep in his bed. And ask myself: what would I do if a repeat of public accounting happens again? Lastly, I have been dealing with some health issues which have postponed my CPA studies for now- unfortunately-I do not have a timeline as to when I'll return to studying. Thank you.October 8, 2019 at 1:34 pm #2743470
I think if you are a licensed CPA, and a hard worker and good at what you do, you will never have to worry about job security.
The sooner you get back to the exams, the sooner it will all be over.
Keep grinding! It might seem like an insurmountable obstacle, but it's not, you can and you will.October 8, 2019 at 5:26 pm #2743773
LIFO The PartyParticipant
– At least your keeping the weight off and not blowing up like a balloon. I’ve seen many people in our profession let go of themselves. Too many hours sitting down and too many snacks during busy season are the culprit.
– As someone else has mentioned, I’d get your CPA ASAP. It’s going to suck for a while, but it makes you more valuable to company, especially if you leave public and go into industry. The CPA license carries a lot of weight once you leave public and go to industry.
– For an extra layer of job security, I would specialize in something. Almost everyone in industry or public have either a masters degree and/or a CPA, but how many of those are proficient with data analytics? Not many. If you can learn to master data analytics and combine that with your CPA license, you’ll be employable for many decades to come. The CPA license if just the start – once you achieve it, your next focus should be on specializing. I chose data analytics because those skills are applicable to many areas in business, not just accounting.October 8, 2019 at 9:13 pm #2744100
You were let go and that hit home to you, understandable. But you must realize that overall, the profession is secure as far as job security. Check the career outlook for accountants via BLS. The outlook looks good for us. Healthcare is a great industry to be in as well and I'd say if you can find an accounting position there, that'd be a win-win. But a career change at this point in the game? Nah, you're solid where you are. Accountants are in demand and if that ever is not the case for you, all you have to do is consider a geographical move, because somewhere, you are wanted.October 9, 2019 at 11:29 pm #2745702
I was once let go working for a mid tier public accounting firm and it definitely hurt. The anxiety of the Hr lady (aka the angel of death) coming to the office from our NorCal office usually meant someone was getting canned. Low and behold my number was called eventually. It was stressful times back in 2010. But, a month later I got a good job in private paying a decent amount more and have been working with the company ever since. I’m now a VP working under the CFO and making nearly 4x what I was making back in public. Point of this is sometimes it’s a good thing and you will land in an even better spot. I’m a father of one and I’m 36. Wife is just getting back to part time and trust me I stress about all the bills piling up. Seems like the more you make the higher bills stack, but that’s besides the point. If you work hard and stay focused it will all work out. We are in a booming economy and the accounting profession is one of the near recession proof fields out there, so you will always have options no matter the economic climate. I’m just now finalizing my CPA, so I’ve been able to make it happen without it. Experience ultimately is the highest factor for a job qualification even beyond a CPA in private. Don’t get me wrong I am definitely looking forward to increased opportunities once I am licensed, but you can still make significant money with out. Like others suggested I would get back to your studies ASAP and give yourself even more opportunities. It will never be easy and the time will never be just right to start your studies. You just have to dive in and keep charging and don’t let anything or anyone get in your way. Best of luck!
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