[AJE]

I have always thought I’d eventually move out of public to private.

I am turning in an app for a company that is quite small but is looking for someone to grow and pretty much do everything (accounting, business, forecasting, etc). I know I would immensely love it but am super nervous/terrified about what my job opportunities would be if it fizzles out (4 year old company, sole proprietor, growing a lot now) I think I’d be screwed somewhat. I’d never be able to go back to public (too old/wouldn’t want to, 30 years old now).

Right now, my career path in public is pretty excellent (I’ll be a senior In under 1.5 years based on evals + what people have told me, 6 months in now). If I left public as a senior, in this market, I could go from 65k in public to around 80k+ quite easily. And from there, with 2 years in private I could get a cushy job as a Accounting Manager in the low 100’s at a lot of places (good network of friends out here in many different types of companies).

Mainly, I am scared that I am losing out on the learning opportunity of a lifetime to chase a somewhat silly pipe dream. I know I haven’t even talked to the company yet, but does anyone think (if I got an offer) that it would be a huge mistake to take it (also the pay would be way lower to start based on their job advert)?

FAR 91 - 04/16
BEC 87 - 05/15
REG 77 - 07/27
AUD 92 - 08/31

[Missy]

The other thing with being expected to do “it all” in a small company is you'll get very little if any guidance on things that are way out of your comfort zone and often there are legal repercussions to the company. I do it all and have more than 20 years accounting experience but that didn't prepare me to have to know what labor posters have to be displayed in a common area or to know the insurance implications of renting out a piece of equipment to a customer. Indemnity clauses are the bain of my existence right now.

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

[mtaylo24]

“If this is a small but growing company, it sounds like you are going to be the entire accounting and finance department. That means, you're going to be the bookkeeper, accounting manager, controller, financial analyst, etc. Are you prepared for that level of responsibility? Are you even familiar with bookkeeping?”

Good god, this sounds like my job. Lets add customer service rep, receptionist, maintenance worker, caterer, and pest control to the list. You wear many hats with smaller companies

AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
REG - 55 (2/16) 69 (5/16) Retake(8/16)
BEC - 71(5/16) Retake (9/16)
FAR - (8/16)

[Anonymous]

I'll just add that bookkeeping alone can require ENORMOUS amount of data entry – order entry and invoicing, importing transactions from multiple systems, maintaining hundreds of customers, vendors, inventory, and sales items. And delegating your work is often more of a curse than a blessing.

[Anonymous]

Threads like this are always so heartbreaking to me. I try so hard to get into positions people are just throwing away. This is despite the fact that I will likely have completed the CPA in august. Something many seniors havent done.

[Mayo]

“I will likely have completed the CPA in august. Something many seniors haven't done.”

Don't confuse CPA exam knowledge with actual experience. I know a ton more with my experience than the CPA exam ever taught me. The exam is a measure against a standard. It doesn't mean you actually know how an accounting department is run, how to fill out a tax return,. or even how to audit.

It just means you memorized a bunch of stuff and were able to regurgitate it.

Mayo, BBA, Macc

[MaLoTu]

@Sunni – when I set out to get a job in public accounting I missed the main hiring season which set me on course for a year-long job search. This is the time that you need to start reaching out to firms and your state's CPA society. Now that you have some exams done you will get more interest (although this is not a stand alone credential). It takes a lot of effort to land a job, especially if you are a non-conventional candidate.

[txgoddess]

As has been said before, if you don't already have significant experience working with a small company, you should pass on this one.

I'm the Director of Accounting & Human Resources for a small (50 employee/$15M) business. I started my career as a bookkeeper almost 20 years ago and worked my way up through Controller and eventually to Director. Along the way I got my AAS and BBA in accounting, then an MBA, and now a CPA. I never worked public. I never had any desire to work public. I always knew where I wanted to be. The only reason I sat for the CPA is because I can't advance to CFO level without it.

I said all that to say this, even with all of my experience (and my SHRM-SCP human resources certification), I still find that there are things that I don't know. We have a lawyer and an outside CPA that I can consult for those. I spend a lot of time researching specific HR and acct situations. I can't imagine jumping in after 6 mo of public accounting experience and being able to keep my head above water. The CPA exam does *NOT* prepare you to run the accounting department of a business. There are so many things that need to be watched.

When you come in to a sole proprietor start up type business you'll find that you're doing so much more than GJEs. In my experience, you're in charge of A/R, A/P, payroll, insurance, benefit administration, budgeting, forecasting, and so many other small odd jobs. Are you familiar with I-9s, document retention, certificates of insurance from vendors, ACA reporting requirements, handbooks, policy creation, labor laws, etc?

Granted, those are generally going to be less of a headache with a startup company with fewer employees, but the thing is… you don't know what you don't know. If you want to work in private industry, you most certainly need to start out with someone competent and experienced above you. Then, when you've gone through the trials and tribulations and you've seen the off-the-wall things that can happen and you have a good grasp of what *should* be happening, you become that person.

[Missy]

txgoddess you sound a LOT like me…….not to derail this thread but I have the PHR exam on July 16, any tips? (I've been studying for about a month, doing tons of practice questions just like the CPA lol)

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

[txgoddess]

I'm not sure about the PHR. I've not taken the HRCI exam to be able to compare. The SCP was a lot of “what-if” situations that require you to have a broad understanding of several different issues with each question. Since the CP and PHR are the first level, I would think that they would be less situational and more straight-forward. Regardless, they are 1000% less difficult than FAR. LOL

[Anonymous]

Didnt say that passing the CPA made me the greatest accountant of all time. Im saying these clowns make such a big deal of the thing but won't hire someone who is almost done. All because they would have to spend a few weeks training me. What a joke this industry has become. I know a few people who have left public after one busy season. I know people who can't pass the cpa. I know people whose performance would be much lower than mine. And because they have a 3.8 they get a job they aren't performing well in.

@Mayo. How is giving someone a job because they have an insanely high GPA any better than giving the job to someone who can actually pass this thing?

@Malotu I am trying but it aint helping. I am 6 months into looking for a job with no luck. They'd all rather have a fresh grad with a 3.8

But I guess using sense to hire people doesn't matter to them as long as they get another expendable automaton.

[Missy]

How is an offer based on GPA different than an offer based on passing the exams? From an employers perspective it's about the difference between sticking with something for four years vs sticking with something for a year. Equally important is how someone's personality is perceived to fit with the team. If you really want a public job you'll have to figure out the REAL reason offers aren't forthcoming and it's not because of a few wks of training required.

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

[Missy]

Thanks txgoddess I was worried I'm underestimating it but it's becoming apparent I'm not 🙂

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

[Anonymous]

@ sunni..

You starting looking in jan..which is a bad time..hiring season is august to december..jan is tax season..

Not sure what market you are in but there are hundreds if not thousands of firms out there looking to hire in the fall always..

contact everyone of them, make sure your cover letter is good and beat home the fact you want a career in public..that is what they are looking for..

youll find something..I did in the dead of summer for a Sept start with no exams passed thanks to nasbas BS..if you have experience in the real world outside of accounting..such as sales sell that as well..soft skills are what they are lookign for on top of technicals…show what you can do other then what everyone else with an accounting degree can..

The CPA without experience in public is worthless..every partner ive spoke with and know, we've talked about how baffling it is the starry eyes 20 year olds want to be PUBLIC accountants yet not work in public and leave for industry..they arent really CPAs just cause they passed an exam and pay their fees each year..

In Industry youre a line item expense..public youre a necessity..food for thought.

[Anonymous]

It should also be noted that there are other degrees and certifications besides a CPA. A CPA is not automatically more qualified than, say, an MBA. Not to suggest that this detracts from your accomplishment in any way.

[Anonymous]

@amohr23cubs

They say all these things but aren't willing to give a chance to someone who actually does want to work in public. The irony escapes the partners you know.

I wasnt looking for a job in September because I was laid off at the end of December and wanted to work there through the summer.

[Author]

Replies