Public accounting not for me?

  • Creator
    Topic
  • #2564499
    lam2848
    Participant

    So I have been working in public accounting for about two years now and its absolutely awful. My first busy season we were understaffed so the work distribution was horrible. This past busy season we had more people, however I was given more work than last year and more responsibility. My manager keeps telling me that I may be promoted this year and I am terrified. This job is mentally draining and I feel like I’m losing myself here. Has anyone ever dealt with this? And if so how?

    FAR - 78

    AUD - 75

    BEC - 83

    REG - 82

Viewing 6 replies - 1 through 6 (of 6 total)
  • Author
    Replies
  • #2564628
    jenpen
    Participant

    I switched from a small to mid-size firm last year. I thought I knew what to expect for busy season hours, but I was so WRONG. I started looking for a new job right after the end of busy season. I am now in a multi-family office and couldn't be happier. For me, it's like the best of both worlds. It's kind of like being in public, but we don't do most of the preparation so I won't have to work much more than some 45-50 hour weeks.

    AUD - 85
    BEC - 84
    FAR - 82
    REG - 78
    Ethics - 95
    Licensed in IL & MO

    AUD - 56 - 68 - 61 - 9/8/16
    REG - 75
    FAR - 7/15/16
    BEC - TBD

    Wiley CPAexcel and NINJA 10 Point Combo

    #2564814
    jombe
    Participant

    Generally, public offers more flexibility, growth, room for promotion, etc. In exchange, you will be putting in 60-80 hrs per week during the busy season and be away from your family more if you are in audit. Instead of one direct report, you will have multiple managers/in-charges to report to, which means you need to manage expectations according to each superior's liking.

    Private offers less flexibility, less room for promotion, etc. In exchange, your hours will be more consistent throughout the year and less travel. You generally have one or two people to report to. Again, that will mean more consistency.

    At the end of the day, both private & public has its perks. You just have to think about what works for you. Some people I knew from public loved to travel, loved meeting new clients, enjoyed the flexibility during non-busy season, etc. I personally hated to travel, preferred more consistency. I do miss the flexibility a little bit, but all in all, I am happy I am no longer in public.

    AUD - 99
    BEC - 91
    FAR - 94
    REG - 96
    --------------------------------------------
    Done with exam. On with life.

    FAR - 94 (10/4/15), Local Prep Online Lectures, BISK & NINJA MCQ
    AUD - 99 (1/19/16), Local Prep Online Lectures, BISK & NINJA MCQ
    REG - 96 (4/19/16), Local Prep Online Lectures, BISK & NINJA MCQ
    BEC - 91 (7/19/16), Local Prep Online Lectures, BISK & NINJA MCQ

    581 days of listening to lectures, reading texts & 10,000+ MCQs...

    #2565294
    Recked
    Participant

    It's up to you to craft the life you want to life. The 60 hour week grind is not for everyone.
    If it's not for you, eventually you'll find a job in public that has more reasonable hours and expectations.
    The pay will reflect the lower volume work load of course, but for some the trade off is worth it.
    Is the juice worth the squeeze?

    Memento Mori - Kingston NY CPA & EA (SUNY Albany 2002)

    FAR-93 11/9/17 (10wks, 250 hrs, Roger 1800+ MCQs, Gleim TB 600+MCQs, SIMs)
    AUD-88 12/7/17 (3 wks, 85 hrs, Roger 1000 MCQs no SIMs hail mary)
    REG-96 1/18/18 (6 wks, 110 hrs, 1400 MCQs, no SIMs)
    BEC-91 2/16/18 (4wks, 90 hrs, 1240 MCQs)

    #2566305
    Mike J
    Participant

    @Recked, I love the graphic!

    AUD - 90
    BEC - 79
    FAR - 77
    REG - 77
    They don't trust JUST ANYBODY to count beans
    #2566677
    cantpassagain1
    Participant

    I would weigh how much longer you can make it against your convictions that are pressing you to leave – keeping in mind how much (if any) the experience you get from your firm adds to your career in the long term.

    I feel like this is the age old question – you're not alone. I am often conflicted if I should stay in public accounting as well. I’m at a large regional firm and I have a hard time maintaining most time. I’m aware its only going to get harder but the experience it provides is incredible. Nonetheless, its surprisingly harder than you think to make an exit that is a step up in your career with only two busy seasons under your belt.

    I have gathered that public accounting can seriously take some years off your life. With that said, concluding that “public accounting isn’t for me” is the general rule, and essentially assumed by everyone in the field given only 2% make partner. However, as someone who has been wrestling with this question as well and accepted I should leave, the profession as a whole seemingly requires a certain amount of time to be put in. As such, even if you conclude to humble yourself and forgo goals of making partner or manager, or whatever, sadly you might find you can’t quite leave at the moment.

    #2566809
    Biff Tannen
    Participant

    Left big 4 audit with 1 year of experience and received 40 percent pay increase. I have yet to work more than 40 hours per week. Now I have time to focus on studying for the cpa and spending time with friends and family. The grass is greener on the other side, my friend.

    AUD - 78
    BEC - 84
    FAR - 79
    REG - 85
    “An investment in knowledge pays the best dividends” - Benjamin Franklin
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