[hanseny007]

Hi, I am 35 years old and wondering if switching over to public accounting would be a good idea (married, but no plans to have kids). I’ve heard enough of long work hours and busy seasons, which I wouldn’t mind.

I have about 5-6 years of corporate accounting experiences since I had my bachelor’s in accounting and in the process of taking the CPA exam.
The reason why I wanted to switch over is that I’d like to get public accounting experiences before it gets too late. Someone told me that 1 year of experience in public accounting is almost comparable with 2-3 years of private industries.

Is there anybody who switched over to public accounting from industries?
If so, do you regret or you feel like you made a right choice?
And what career level would I fit in (associates vs. senior)?
What’s the average salary increase in public accounting (I got 2% increase last year in the current company).

Thank you in advance!

[12tang]

You have to do what you feel is necessary. But since you asked, I'm here to offer my opinion on the matter. I think the oversold idea that one must do public to be worth anything in the job market is an absolute joke. Colleges push it hard. Ask yourself why. Funding? Scholarships? Follow the money trail… If you like to follow the herd then maybe public is for you. Can you make it without the experience, you bet! It's all about how you sell yourself, how ambitious you are and how much work ethic you have. I show up and put in good honest work and I'm paid accordingly. I can negotiate and back it up. Meanwhile, there are lots of youngsters with HORRIBLE WORK ETHIC and they can't talk. I hear this all the time from employers everywhere. I also hear that it's like no one wants to work anymore, so they don't. They take tons of time off or they do everything in their power to work remotely, etc… So what am I saying? Don't be like that! Be better!

I started out in industry and make very good money. Total compensation is around 150k. Does this mean I'm safe? No. I could lose my job and yes, because I don't have public experience it will be harder for me to navigate the job market. But you know what? I'll make it work; I always do, because that's who I am. I have never walked the heavily walked paths in life and I have always found a way to come out fine, if not better than most. Some people must do the same as what everyone else is doing, or what's preached to them by others. I say, make your own way in life. There are way too many variables involved to conclusively say, that one must or should do public in order to make it. Look at the successes of most famous people and you'll almost always find that they too, found their successes in unorthodox ways. At the end of the day, this is beautiful America. Success in this country is what you make of it, it's truly in your hands. There are plenty of entrepreneurs without college degrees to prove that narrative. At the end of the day, do what you feel is right.

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[Khan17]

@12Tang thank you so much for awesome and inspirational words, i have met many CPA's without any public accounting experience who are working as a Controller in Private industry or in a more senior position with really good pay. I moved to USA 6 years ago and started everything from ground zero, as a new immigrant i believe i am happy for what i accomplished so far, in these years not only i did my MBA and CPA but also landed a full time permanent job in a medium size publicly traded manufacturing company, but something i am not happy is the growth opportunity.
I haven't been promoted and the funny part is our company hiring new people in my department in senior position who has no idea of the work, whom i need to train and they later on review my work. All these made me to decide to move on, but i am happy to find this forum and thank you all for sharing your experiences.

[Accounting_is_Taxing]

I've seen plenty of public companies hire people with corporate experience at the senior level. Public companies offer more than just auditing and tax services. They have consultant jobs that you could find yourself qualified for.

With that being said, public accounting is overrated. The biggest benefit of public accounting is that it is much easier to get a promotion because the turnover is high. I worked in public for over two years before I switched to industry and I enjoy industry accounting much more.

[Small4]

Is there anybody who switched over to public accounting from industries?
-I didn't do this BUT i do have 6> years experience in both (so 12 total) but i went public to private midway. My opinion is, if you want management type positions in private, often times a lengthy experience in public is very good in a resume. Unless you are on of those lucky folks where there's a clear path upwards in private, switching company to company usually gets u an edge if you have public experience.

If so, do you regret or you feel like you made a right choice?
-I look at it as “what do you want to get out of public experience? If you have a clear goal: “make manager/director in public” or “i'm leaving after year X so i can do XYZ” then you will never regret it. If you go to public with no expectations/set goals, it could be a rough time since there's definitely 60-70 hr weeks in there where it aint nice at all, especially with a spouse.

And what career level would I fit in (associates vs. senior)?
-I say associate if Big4 but senior if its a small/mid tier public accounting firm. I only say that because i believe even private managers usually come in as seniors in big4 since they usually have to prove themselves first. Unless you are a super seasoned manager.

What's the average salary increase in public accounting (I got 2% increase last year in the current company).
– This is where public accounting trumps private. I recall getting 8-12% each year where in private its 1%-4% if youre lucky. So the key though is if you do decide to move to public accounting again: 1) have clear expectations where you want to be after X amount of years. 2) if will benefit you immensely if you leave public accounting (after 8-12% raises) and have a larger base salary whenever you switch to private again so you can be ok with small raises moving forward.

With that said, good luck with your journey!

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Been doing this since 2007 on and off...

[Author]

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