[Languistic]

Is there greater potential for advancement in public accounting versus industry? I have an offer that would require a paycut since I would be starting from the bottom.

CA Candidate

FAR - 71, 75
REG - 80
BEC - 73, 79
AUD - 51, 73, 70, 77

Ethics - 90%

[fuzyfro89]

In general, a resounding YES! If you take a look at most senior, manager, sr mgr/VP level positions, almost all of them will say Big 4 required/preferred. I say this from experience, as I'm currently leaving a Big 4 and considering options at other Big 4 and industry positions, and competition is still tough. I can only imagine what it would be like if I was coming straight out of industry or from a non-Big 4 public firm.

If your goal is to be in industry accounting at a higher level, then yes. You will get exposure to multiple industries and really broaden your abilities. Companies love ex-Big 4 people not because they can come in and do great accounting from day 1, but because they are perceived to be hard-working, sharp, and able to learn and advance.

I'm not sure what level you're at now, and how much of a pay cut it would be, but assuming it's less than $10K I would definitely do it. Any more than that, and I would start weighing other factors (need for short term money, dependents, anything else that's important to you).

[fuzyfro89]

I may have misread your post, and am not sure you're specifically talking about Big 4. If you are, then great! If not, I would still take it, but with the understanding that exit-options won't be as good/easy transition when you decide to return to industry. If you go to a smaller public firm, I would recommend you try and move up to Big 4 after 1-2 years and spend 1-2 years at the Big 4 level (after 3 years you are very marketable and will not find it too difficult to find something new).

FD: I recently left my Big 4 after 1.5 yrs, for reasons I won't expand upon in this post, and have not had terrible difficulty working with recruiters to get interviews lined up.

[Mayo]

Public accounting promotions are a lot faster, typically.

Mayo, BBA, Macc

[ImaCPA168]

Yes – and unless you're talking about a HUGE cut, I'd say that generally the move is worth it. Esp if moving to Big 4.

B - 83 Done
A - 88 Done
R - 81 Done
F - 77 Done

Ethics - Done
Attest Hours - Done

Licensed-May 2013!

[mgnyc]

I would recommend going to public. I never did and regret it, as it is what everybody wants to see on your resume.

Aud 73, 79
Reg 70, 60, 67, 76
Far 70, 66, 72, 87
Bec 77

[wizards8507]

Okay I STRONGLY disagree with everyone here. Yes, Big 4 accounting is better than “Joe's Corner Tax Shack” or “Cleveland Tractor Supply” but the assumption that ALL public accounting is a step up from ALL industry positions is just false. If you're moving from a top-tier publicly traded company or consulting firm like Comcast, Exxon, Apple, Disney, Walmart, BCG, etc, then you're not going to get ANY benefit from moving into public accounting, especially if you've already had some traction moving up in your current career path. The value to your resume is all about the relative prestige of your industry option versus your public option. Senior Financial Analyst at Google to Junior Associate at BDO is probably a significant step down, while Staff Accountant 1 at your local grocery chain to Associate at PwC is probably a step up.

If there's a pay cut that's significant enough for you to question the move, you're probably going in the wrong direction since the marketplace uses salary to identify what you're worth. If I'm a recruiter and I see “public accounting senior making $47,000” or “senior financial analyst in industry making $64,000,” I'm definitely more inclined to believe the individual making $64,000 more is a higher caliber individual. For career advancement purposes, you always want to make as much as possible because potential future employers will look at what you currently earn and say “well his current firm (who knows his work) thinks he's worth X per year, so that counts for something.” Working in public might help you with job OPTIONS, but taking a paycut now will definitely hurt you in future salary negotiations. Your current pay rate is often “step one” in negotiating a new salary with a different company.

EDIT: Also, your hourly pay will probably be going down a lot more than your salary, since public accounting is a much different lifestyle than industry.

NY CPA

[mla1169]

Most management positions (controller, CFO, accounting manager) even of smaller companies INSIST on having some mix of Big4/Industry. Yes,you can still achieve these jobs without big 4 experience (in some cases) but many employers are adamant on having that mix.

I have accounting experience that goes back to the early 90's. I have a CPA license. I have management experience. But I'm still told all of that “isn't enough” for some employers because I have no Big 4 experience. And we're not talking Exxon, Apple or Disney, we're talking businesses with < 50 employees and <$20m annual revenue LOL.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Spur]

What is the best way to get into a big 4 spot when your a few years out of school?

I'm still in my 20's but have been looking at this more seriously because I agree with the comments here that most job postings want BIG4 experience. I know from my undergrad experience it was all about talking to recruiters at school fairs. Is that still the case when your looking to get into an entry level position with a BIG 4 firm?

FAR - Bad Fail '11, Fail '12, Fail '13, PASS It's a miracle!
AUD - Fail, PASS!!!!!!!!!!!!!!!!!!!!!!!
BEC - PASS!!!!!!!!
REG - PASS!!!!!!!! And I'm done!

[TripleNetAcct]

All depends on your personality and if the company you are interviewing with thinks you will mesh well with everyone in their office. I have received 3 offers since starting to interview 3 weeks ago and all I have is industry accounting experience. They are all Senior Accounting and Financial Analyst positions.

AUD 73 (Aug 12) 77
BEC 66 71 (Nov 12) 80
REG 54 81 (May 13) 81
FAR 63 (Dec 13) 75 TEXAS

[mena je twa]

Well, i worked in private for 7 years, and right after passing the CPA, i made the move to go get some public acounting experience. i tried for 9 months , serious efforts, job boards, networking, socialising and all that and finally landed a job after 9 months in a good top 8 public accounting.

I did very well in the interviews, and also i knew a lady working in there, so she refered me.

I have proved people wrong, who kept on saying you are old for this( which is correct), and you have so many years in private.

I also did not take a pay cut, i got 2k more…

My target is to put in 2 busy seasons and get the F out of there…. Call it resume builder, recruiter interest, personal interest whatever. The point is do what you want to do and dont give up, even if people tell you so.

Licensed CPA, Texas - 2012

[mla1169]

Triplenet, jobs at the senior accounting and financial analyst level rarely “require” B4 experience. I was referring to CFO positions and controller positions which is the level I am at now. I'm overqualified by far to be a senior accountant or an analyst, but supposedly “underqualified” to do what I currently do LOL.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Spur]

@MLA, wow really!?!?!?! Every job posting that I have seen for a staff accountant position, senior accounting poisition, either requires BIG 4 experience or its a preferred qualification.

I must be doing something horribly wrong as I've been looking and have not gotten a single call from the 10+ positions I've applied to.

Thought that maybe passing at least one part would get me there, but I'm thinking that having the title will make it much easier.

FAR - Bad Fail '11, Fail '12, Fail '13, PASS It's a miracle!
AUD - Fail, PASS!!!!!!!!!!!!!!!!!!!!!!!
BEC - PASS!!!!!!!!
REG - PASS!!!!!!!! And I'm done!

[mla1169]

Spur don't let what a job posting says discourage you from trying.

Only 10+ positions? It takes time in many cases. I've been passively looking for about 4 months, and have applied to over 50 positions. I've gotten about 12 interviews and no offers yet. That's fine because I have a good job that I am comfortable at as long as it takes, but would LIKE to make about 40% more than my current salary if I can find something like that. If not, no big deal..

Doesn't mean youre doing anything wrong but you might want someone to critique your resume if you're not getting calls. Sometimes just a small tweak makes all the difference in the world.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Spur]

@MLA, all I know is that trying to apply to jobs while studying for this exam is very very frustrating. It kills any endurance I have left at the end of a day to keep studying. It's like a mental see-saw, new job, CPA, new job, CPA…

I too have a job, a very comfortable one at that, in which if I leave, I will be taking a pay cut no matter what. I agree with you on the resume critique. I think I have a decent resume, but I am planning on having a pro look at it to be sure.

FAR - Bad Fail '11, Fail '12, Fail '13, PASS It's a miracle!
AUD - Fail, PASS!!!!!!!!!!!!!!!!!!!!!!!
BEC - PASS!!!!!!!!
REG - PASS!!!!!!!! And I'm done!

[Author]

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