[LonelyRonPaul]

I’m currently a 28 yo staff accountant at a F500 in South Florida with 2.5 years in and will have my CPA by end of month. Our department will be laid off in about a year (their estimate). I’m on a retention agreement where I will receive 6 months pay once I am laid off. I’m trying to decide two options right now:

Option 1: Stay until the layoff. I have been told that a promotion with raise is in the works, which I’m guessing will be senior accountant or some equivalent. I strongly believe this will happen because they do not want to lose any more employees to attrition. I believe my salary would jump to somewhere around $70k which would be a nice jump and the severance would be paid out based on that final salary. Plus the fact that the senior accountant title would look great for my resume when I begin my job search again.

Option 2: Start applying for positions in public accounting. I do not have any prior experience in public accounting but I feel like if I want to make the jump, now is the time before I move up further in my current career path. I believe this choice will benefit my career greater in the long run and open me up to more opportunities, even if it means accepting a salary close to what I’m making now ($54k). I guess I’m scared of possibly getting pigeonholed into corp finance roles the rest of my life lol.

What do I do?!

FAR - 78, 5/7/16
AUD - 87, 7/16/16
BEC - 8/27/16
REG - 12/3/16

[Anonymous]

I'd say make the attempt to get into public accounting. It might take some time, your resume might get overlooked so it might take some time to build relationships with recruiters and be offered a public accounting position, let alone an opportunity to interview. For example, most large firms expect you to have a CPA already even for a Senior role if you are an external hire. If you applied now, they would either not be interested in your resume or they would at least talk to you to see what your interests are, but not move you further along in the process.

So yes, public accounting would be a great opportunity and you would have a leg up on salary negotiations since you are still employed (and will be a CPA soon).

PS I wouldn't let them know you are looking for a position because your current firm is laying people off. I'd just let them know you're interested in public because you would like to pursue a career in XYZ industry.

[MaLoTu]

I think you can do both and here is why. Most public accounting firms hire their incoming class nearly 1 year in advance with fall being the prime hiring season. So in most cases, you would get an offer in oct-nov and start Aug-sep.

Did you go to a college that is recruited by firms? If yes, I would see if your alumni status can help you with some of their campus connections. If not, I would start researching the colleges in your area and which ones have meet the firms events. I got my job by attending a meet the firms at a college I did not attend.

[Missy]

See what's out there first and then ask what do I do when you've got an offer.

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

[Pete]

Yea, most large firms hire 1 year out. I'm talking to one firm that mentioned a hire date of November 2018. You could always apply for the job while keeping your current position. If you get laid off in the future at least you'll have a spot in public.

Also, be aware that getting a job in public without campus recruiting is near impossible, unless you can get a good contact, within the firm; this was confirmed, when I spoke to someone on the phone the other day and through personal experience. I was told, they typically won't interview, once you graduate college, but they would make an exception for me.

B=84 This exam was such a b**** that I thought I failed-don't know how these things work
A=76 Slacker I am, I'll happily take it
R=81 I LOVE taxes
F=80 I don't wanna get banned for an expletive I'm thinking with "yea" proceeding it

[Author]

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