[starlightt]

Hi, I’m looking for some career advice on my current situation and hoping to get some input. I currently work as a staff level internal auditor for a large Fortune 500 company, with a large internal audit department. I have been in my current position for 2 years now and have held this position since graduation. I also interned for the same company the summer prior to graduation and was offered my current job when the internship ended. I’m also working towards my CPA license and have one exam left to take, which I will be taking at the end of the month.

When I started my job, the current standard for being promoted to Senior was somewhere between 18 months and 2 years of experience. Everyone I worked with was promoted to Senior in this timeframe. So, as the end of the year approached and I was coming up on my promotion timing, I was under the expectation I would be promoted to Senior level at my year end review. However, a few months back, my company changed their experience requirements for a senior level auditor to a minimum of 5 years. Now, I’m no longer up for a promotion due to this requirement. I’m feeling frustrated knowing I will not be receiving my promotion due to the new requirements, especially since all of my peers were given their promotions around the 2 year mark. I’ve worked hard for this company and am regarded as a high performing staff and have been given the same responsibilities as a Senior would, just without the pay. I even have more responsibilities than some of the Seniors on my team.

My question is, where do I go from here? My options include stay at the company at my current level and either hope they change the requirements back or hope they make an exception for me somewhere down the road? Is it worth it to stay and wait? Or do I look for another job outside my department or in a different company? Could I go into public as a Senior with over 2 years experience in private and my CPA license? Or would I be better off staying in private? I really have no desire to go into an accounting role in private, I would like to stay in auditing or risk management area.

Any advice or input would be greatly appreciated!

[rp 12]

Hello @starlightt,

My first question to you is do you like internal audit or financial aspect of audit? If you like operations and processes in general, I would highly recommend pass your last CPA exam and look into:

A. Joining Big4 Risk Advisory/IA practice or firms like GT, RSM and BDO has IA practice if you don't want to go into external audit route. It's a lot of work, but will be worth it when you want to make jump into industry again.

B. Industry IA jobs aren't structured similar to consulting practice. If you've two to three years of IA experience in your current company, start looking outside – that's how you'll get promotion and raise as well.

C. Going into public accounting/advisory practice as a senior from an industry job, chances are slim. You've to prove that you're capable of handling engagement, setting up staff, managing other engagement stuff. Usually firms bring people as an ‘experienced associate' then you've to prove from there on that you're ready for senior role.

D. Enhance your skill sets further into Data Analytics. Lot of IA shops are looking for this skill. If you use ACL, Tableau or any other data analytics software in your current job, put that in your resume and monitor the positive response you might get from the recruiters or hiring managers. You'll notice ACL or other software names in job description if you're searching for job.

I am currently looking for work and have difficulty finding a senior role because of couple/few reasons. I don't have any certifications, have few breaks in my short career, and some companies aren't viewing me as a senior material seriously. IA imo is a gateway to get out of accounting and eventually land into operations.

Please don't hesitate to reach out if you've any questions or need further insight.

"Success in life comes when you simply refuse to give up, with goals so strong that obstacles, failure, and loss act only as motivation"

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[Missy]

Don't do anything until you have a license in hand, you'll have more leverage in a job search. Then start looking. There's really no sense in trying to weigh your options until you have actual options/job offers. You may find compared to where you are now there are many better options available, or you may find that compared to what other offers you get the current position is still best for you.

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

[MIsconnie]

I agree with the above. Keep working towards that CPA, in the meantime stay focused and 100% at work and keep a good attitude despite your frustration. After you are licensed ask to re-evaluate your position. Whenever you decide to bring it up, try to interview for other jobs and have offers in hand. As a CPA this wont be difficult and you already have 2 years of work experience. Deliver an ultimatum to your employer, be prepared to speak on your accomplishments and why you feel you deserve to be promoted. If they aren't willing to give you the pay for the work you do (as you mentioned you are performing senior related tasks without the pay) then walk.

They are trying to low ball you and give you the hometown discount. Remember, you are in this for yourself, not so they can save money by paying you less for more output. The beauty of the CPA and accounting in general, you can have a job tomorrow no problem. THEY are the ones that do not want to spend money to hire someone new (new external hires cost more) and also train someone new (takes longer). You will be in a position of great leverage, be sure to use it.

Best of luck!

[Author]

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