Advice Moving Public to Private

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  • #1563234
    Anonymous
    Inactive

    So let me preface this by saying that if I sound like a whining child, feel free to tell me.

    I’ve been working at the same place now for over 6 years. This December I hit 7 years.
    Pay: 90K + Bonus + Commission (4-5K a year)
    Benefits: 3 weeks vacation (soon to be 4), 1 week sick time, 4% 401(k) match, 60% of basic insurance plan paid
    Title: Tax Manager

    Busy season is 8:30AM – 7:00PM Mid Jan through April 15th and again August 1 – Oct 15th. Saturdays required Feb – April and Sept – Oct.

    It wasn’t always like that though, however, we brought in a new partner and since then have tripled work load and hired an additional 5 people. With time, the culture changed from one of low key small firm, to now 16 people and the fast paced mentality.

    With my promotions and growth (I’m directly under the partners, no one other than them is above me) has come a swing in the way the partners are around. One in specific, who is the tax partner, just isn’t around anymore. Seeing that I am more involved and more in tune with staff and others in the office, the partner feels they can come and go and not worry, but still make demands when they want. Frustrating to say the least.

    For some time now, I’ve been frustrated with the office dynamic and the way the culture has changed. I more and more see the firm becoming like any other public firm. While I know my pay and benefits are great, having now a family of two small kids and my wife, I more and more want to shift away from the craziness and move into the private realm.

    Am I crazy? Am I over analyzing some of the changes in the office or is their some merit to my madness. I’m in the process of interviewing with a large private company and have already interviewed with the county in which I live to maybe land a job in government. We’ll see.

    My boss depends heavily on me. Not sure what the partners will do if I say I want out and have an offer. The biggest thing for me is that I live 7 mins from the office so on most days I go home for lunch and have zero traffic going to and from but the hours basically make it so that I’m busy and can’t take vacation 5.5-6 months out of the year, every year (while partners come and go as they please, dont adhere to requirements and basically hope I get it all done). I’ve been told my next step is to make partner, but I don’t know that I want that.

    I’m more concerned with family/life balance then I am with making so much.

    Airing out my thoughts, figured if anyone understood, it would be the people in this forum.

    Thanks for any and all replies.

Viewing 3 replies - 1 through 3 (of 3 total)
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  • #1563246
    Anonymous
    Inactive

    They'll be pretty upset if you leave, but it sounds like you should consider other options instead of twiddling your thumbs waiting for the opportunity to make partner. You may as well start your own firm.

    Even though the office is just around the corner, you still spend a hell of a lot of time there. What's that worth to you? Those benefits are good, but they're not that good.

    Also, it looks like you should browse around for a Senior Tax Manager role and go for base $140-150k (depending on your area). Do you know any recruiters? Can you network to find someone good to find you your next opportunity?

    I'd love to be a fly on the wall to see their reaction if/when you give notice. If you're really that relied on, they're going to freak.

    #1563279
    Anonymous
    Inactive

    @almond My wife asked me to record the convo the day it comes lol. Do all the training, handle all the in house IT, manage the work flow system, work on all the largest clients and deal with all the complex issues, int'l tax expert, deal with most clients face to face and review returns going out just to name a few…..they might freak yeah

    I am in contact with a few recruiters, 2 of which came through a very close friend who worked at a huge private construction company as their internal auditor. He and another friend (who currently works in the corporate accounting department) had nothing but good things to say about the company.

    I spoke with someone who works in the tax department I would be interviewing with and they had nothing but good things to say (they came out of Big 4). So more and more, it is looking like that might be a good option.

    I've thought about opening my own firm, but my book isn't large enough to do that just yet and meet my families' needs. I can take a severe pay cut and survive for a bit on savings, but don't want to do that just yet. Though, I have been contemplating taking some per diem work on and doing my own clients on the side as well. Thanks for the reply!

    #1563423
    Missy
    Participant

    Here's my .02. You're in a fortunate position to not NEED a new job asap and can be selective. First write down (literally) your wish list, from distance to size of company to salary to amenities (if you're someone who walks at lunch put on there that a walking trail is a nice plus.) Then rank the items on your list by importance.

    Start looking at whats out there. When you interview remember its just as much about if they meet your wish list as it is about you meeting theirs. Its not that you go in saying you MUST have x, y and z but you're more likely to negotiate up to your expectations (remember everything is negotiable, if salary falls a bit short don't be afraid to ask them to pick up 100% of your insurance vs the 70% they offer, or say you want 4 weeks PTO when they offer 3).

    The decision to stay or go becomes infinitely easier when more of your wish list items are met by going vs staying.

    Licensed Massachusetts Non Reporting CPA since 2012
    Finance/Admin/HR Manager

Viewing 3 replies - 1 through 3 (of 3 total)
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