[DZagt]

Started my new job at a firm in NYC last month. I must say this shit blows, lol. I work in the accounting services department and you just get thrown client after client and their nuances and whatnot. If I ask questions I get vaguee answers. The only training I get is when someone wants to dump something of their plates because they hate doing it.

My supervisor is pretty young he’s 31 and I’m 27 and you can kind of tell he’s trying to figure his role out. He constantly contradicts himself and can be super critical or really nice he’s so bipolar lol.

I’m not complaining just giving my opinion. I def think I made a mistake taking those exams just to deal with all this shit. I definitely think I made a mistake turning down another offer in private to go into public. I feel like I’m a financial waiter to the clients lol where you just have to put up with their shit. I think I’ll just stay until I fulfill my experience requirement and gtfo lol.

[Anonymous]

In general, when you have solid public accounting experience on your resume and a CPA, you can make a lot more money and have a lot more career opportunities than if you skipped public.

I went back to school and started my accounting career in 2012. I had an offer to work in private for about $50k, and that was a lot of money to me at the time. It was 40 hrs a week max, friendly environment, and a lot less work. But, I followed people's advice and took the public offer instead. I got a Big4 offer, but went with a top 25 firm instead, hoping it would be slightly less demanding. I started at about $53 or 55k (can't remember), and it was hell. I stayed for 4 busy seasons, and because of the projects I saw and worked on, my skill and knowledge level is way way more than I could have ever achieved in private. I can pretty much tackle anything… except tax lol. I left after 4 busy seasons and jumped to a private job – 40 hrs a week max, a lot less work, fancy title, fancy office, huge benefits package, next in line for CFO (unless I get my CPA and decide to relocate to the beach), job security until I retire, making 6 figures.

If I had taken the private job back then, I think today I would be struggling to get in the $60-70k range and would probably still be senior accountant or maybe a supervisor.

From what I've heard, my experience is typical. Public accounting was a painful sacrifice the whole way through, but I made the most of it and it paid off for me.

[ellejay]

In my experience it really depends on what kind of firm you choose. I work in public, and this is my fourth busy season. I've been with my current firm since 2013. I work for a small local firm, and I honestly love it. I gave up the prestige of a bigger firm for a 55 hour max work week during busy season and a 35 hr work week during off season, with similar pay (a little bit less, but with less hours I think the pay is a higher value). Some people wouldn't go for it. It all just depends on what you're looking for.

That being said as other people are mentioning, I've heard you get paid better in private at first but that your salary is more “capped” and you aren't offered an annual raise all the time (which is pretty standard in public in my experience and hearing from my peers who work for big 4 and mid tier), or bonuses, your earning potential is not as great over time. At least that is what I have heard.

[Anonymous]

I love public accounting. I couldn't get paid any amount to leave it. The revolving door of clients keeps things interesting. At a big four firm, the clients are incredibly interesting, and the success of the clients enables them to keep out knuckleheads. Maybe it's different elsewhere.

[Anonymous]

Has anyone started a career in public at age 35+? I would not want to, but just curious if anyone on here has. I don't think B4 hires anyone who is older. There would be way too much of a generation gap between me and the kids who graduated a year or two or three ago. I'm sure I'd have a younger boss too and that wouldn't work. I always like my boss to be older than me, by quite a few years. Or, LOOK like they're much older. By the time I get to that “older” age, I will be somebody else's boss!

[Paydirt123]

Crazyleon yes, in a roundabout way; I'm 36, finished 2 cpa exams (find out tonight if it's 3!) have no experience to speak of really. I have no idea if firms won't hire me because I'm 36, cross that bridge when I get to it. Everyone's different, but you might want to chill out on the concept of having a boss younger than you. Beggars can't be choosers

[Anonymous]

Yeah, I'm not into reporting to someone who is much younger than me. Call me old fashioned. There are many jobs in the sea, you just have to pick one that suits you on as many levels as possible. I've had interviews in the past where I would've been working for someone who appeared to be like 31-34, and I passed on those jobs, or they never hired me. I'm 41 this year, but I can still pass for 31-34. I know I know, “swallow your pride, you can learn something from someone younger.” Indeed yes, you can learn stuff from someone younger but the psychological aspect of having a somewhat or significantly younger boss…..it doesn't work for everyone. And it usually doesn't work out and the person leaves anyway. Luckily I can choose where I want to go. I'm not a beggar. I don't beg for things, I work for them.

[Paydirt123]

Right on man, everyone's different. I'm going to the highest bidder, if I can get in with a big 4 I'm there (I won't, but..)

[Anonymous]

@paydirt – well I hope you do, if that's what you want. I don't know if there's a way to keep in touch with each other on here except thru postings but if you get in at B4, I'd love to know about it and hear about your experience. As I've mentioned in some prior posts, the folks there are an interesting bunch. Although I did not work directly with the KPMG audit team when I worked at [The Company I Used to Work For], I saw them every day for 3 months. I kept wondering when they were going to leave because they used one of our conference rooms that was a yard or two away from my desk and it often got rather noisy, requiring me to use my noise-cancelling headphones coupled with iTunes while working.

[Paydirt123]

@crazyleon- thanks man, I'll be back on here for score release 3/21 (got #3/4 tonight!) Where you at with exams btw?

[C / X]

*I know someone who was in his middle or late 30's (I think?) who got into PWC (he had a wife and a kid)- he had previous bookkeeping service but he came back to school so he went through a networking club and was technically graduating with me though (as an undergraduate bachelor's)

Funny story I saw him once after he was auditing another business that was sort of close to the one I was working at the time. He told me he loved his team but yes they worked long hours. He also took an offer from one of the clients they audited before because app they gave him an offer he couldn't refuse though. I believe he worked there for around 2-3 years maybe? PWC is one of those firms that really only cares if you seem smart or not from what I gather anyway. But I think near 40 would be pushing it at any Big 4 firm, cuz I'm not “that old” yet, and I already have misgivings about the idea of 80 hour work weeks because that is when the rubber really hits the road.

I think for big 4 and midtier firms they prob only take entry level candidates who are referred or something as most of them come out of the school pool they recruit from anyway. I'm just going to pass my CPA exams and aim for what I will accept and vice versa so we will see. And if my only misgiving about a boss is that they are younger me…that's not that as bad as what else it could be.

[Meadows30]

I started in audit in public accounting at a Big 4 in January 2013, and left in October 2014 (almost 2 years, so I did 2 full busy seasons). It was the worst experience I ever had. I gained 20 pounds, every April I was a blubbering, weepy mess. I lost my relationship of 9 years. I lost my friends. I lost my sanity. I have been in recovery from public accounting for the last 2 years and I am in fantastic shape, work out at lunch every day, have a 9:30-5:30 schedule, make $60,000 more a year, get a real 401k contribution, work on interesting projects, with smart people, and increased my net worth by $80,000 in the last year. I paid off almost all of my student loans, I am involved with fun activities outside of work. The only thing that failed was my last relationship because my brain was on overdrive from being in public accounting for 2 years, so my brain was making up things to be anxious about. My brain has cooled off and I am now as zen as can be. I do have to finish up the CPA but I have major mind clarity now (I passed 3 but they expired and I had to take a break due to said burnout). My mind clarity allows me to absorb information like a sponge so I expect to be able to pass all 4 in the next year. Do not settle on the first salary they offer you out of public. You need at least a 20-30% raise.

Reg 11/26/2012 80
BEC 01/05/2012
Audit
FAR

[Meadows30]

Oh aside from that though, I learned a mind-boggling amount of useful things as an auditor on private equity accounts. I learned how to read and understand and fix workpapers from clients, and trace back how a document works. I know this sounds simple, but when you know that you have to rely on yourself and only yourself to 100% complete complicated Excel workpapers, you just DO it, and that skill is GOLDEN anywhere else you want to work. You just do it, you don't ask, you don't complain, because there's no one to ask who knows how to do it either in public. It's an amazing skill. Also the Excel tricks I learned and how to crush work in a very short period of time under extreme stress are great skills also. So I would say I am glad I did public.

Reg 11/26/2012 80
BEC 01/05/2012
Audit
FAR

[gigabyte2001]

Just my $0.02. I've been in industry at the same job for 11 years now. Prior to this job I worked for 3 public firms over 5 years. The first one was a top 25 firm. I worked in the small business/tax division doing mostly bookkeeping for small businesses and some 1040's. I was working on my undergrad at the time. From what I saw, the audit group was the most political cut throat operation I saw in my career. I knew I didn't want any part of that. From there I landed at a super small firm and spent 3 years there. Loved every minute of it. In that firm you were assigned a client & did everything for the client instead of doing the same thing every day for different clients. That set up simply worked better for me. Finished my undergrad there & got my Master's. When I finished the MTAX, I parted company with the super small firm on a good note. We were agreed that the add'l education made me more marketable than he could afford. So I went to a mid-sized local firm. I refer to that year as “my time in hell.” My stepfather died that year and they were very upset with the idea that I was out of vacation time (from having taken my children to my parents house over the summer to see my dying stepfather) and yet I still intended to take a full week to travel half way across the country for his funeral. I was “let go” in a “reduction of force” two weeks after I returned from the funeral and days after the 10/15 tax deadline. Then I landed in my current job. When I got here it was a startup with only 15 people. 11 years later, I'm the Controller and reasonably expecting a promotion to CFO as soon as my boss gets his promotion. My salary has more than doubled in the last 11 years. Early on, there was limited off time in actuality just because we were so small making everyone critical. But I no one blinked when I took a week off when my grandfather died in the same town I live in. When I had a medical issue requiring me to be out for 7 weeks (after 6 yrs on the job) I was out 7 weeks and they paid the difference between short term disability & full salary.
I manage a team of 6. Two of those 6 are at least 10 years older than I am. I have a fantastic team that genuinely cares about one another. We have very limited “politics” company wide.
I personally simply do better in smaller companies and my experiences have been better in those environments as a result. Everyone has different strengths & weaknesses. Success sometimes has a great deal to do with lucky breaks and knowing your own strengths.

B - 11/11/16
A - 4/16/16 87!!
R - 2/17/17
F - 7/26/16 - Waiting for 8/23

[10yearjourney]

I think I can add some perspective on this topic. I will first agree, public accounting sucks, and sucks hard. I started my career in 2007, working for a large regional firm (250 people, now 500) in the bay area. I remember my first tax return was a 20 million dollar client with accrual to cash and 10 M-1’s, and I had no idea wtf was going on. The “budget” for most jobs was 1/4th of what it really required because every staff each year prior to me had eaten hours to look better. I was working over 100 hours a week during busy season and posting 65 just to stay afloat and “look good” on paper. Time entry and “charge hours” caused just as much stress as the actual work, basically doubling the stress levels of a regular job. I got booted during the “great recession” because they weren’t making enough money on me, or others were faking it better. I went to another firm, about 80 people, and stayed for 5 years, promoted to tax senior, and assigned to the largest client in the office (client net worth of 3 billion with 125 tax returns). The experience and discipline I gained was well worth it in my opinion. Would I go back? Hell no! I quit that job, took 3 years off, passed my CPA exams, and just got a job as a controller for a small firm of 15 people. I took a minor pay cut due to the 3 year job gap in my resume, but could care less. There is no way I personally could have become a controller this quickly going to private straight out of school. Public will teach you to learn quickly or you will be fired. If you can figure out how to survive that atmosphere for at least 3-5 years and get your CPA, you will be valuable. The road is not easy, but the rewards come later if you learn how to deal with the politics and develop the strong work ethic required in public.

[Author]

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