Pros and Cons of leaving public accounting after 2nd tax season?

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  • #1426146
    Anonymous
    Inactive

    I’m at a small to mid sized CPA firm…maybe 90 people in total. I’ve been there since August of 2015. I had 2 years private experience but came in at 45K/year. Got a step up 2K raise even though they said I was one of the best staff there, but that’s what they always do for first years.

    We don’t have the same structure as big 4. You can’t be a senior unless you have your CPA license so there’s only like 4-5 seniors and the rest are just considered “staff”. A lot of the jobs it’s just me, a manager, and the partner, so I’ll do majority of the planning, testing, and conclusions. If we have some younger staff they want me to help them if needed. So I see myself as the upper echelon among “staff” and my managers like me. We do both tax and audit, but I’m better at audit.

    I have all 4 exams passed as of November, but just need to get some college credits for the 150, I’ll have it by December 2017.

    I’ve been getting tons of calls from recruiters and even a direct call from a top 10 CPA firm offering senior roles with my experience.

    I’m sure many of you have had this situation…what were your thoughts as far as leaving, seeing better salaries out there, and overall decision for yourself? Ideally I don’t want to be in public forever. I just want to make a solid choice and want to start making more money. I like everyone there but it’s a business decision. I’m in state of PA

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  • #1426175
    ruggercpa2b
    Participant

    The only thing with making a transition to a senior role at another firm would be you are expected to know how they do things and also be able to run a team of staff below you. If you are comfortable doing that then you should go for it.

    Are you looking to leave because of more money? The other reasons you stated are all things you should have asked about when you were interviewing. Prior to starting you should have known that you do not get promoted to senior without a CPA and also should have asked how they staff their engagements. If you are staying at the same company raises are usually not much unless you are being promoted. If you have no intention of staying in public then why not look into private? Most people in public do not make much money till they get to manager or make the transition to private. I left Big 4 and got a 22% raise for a position in private.

    AUD - 73, 72 retake 7/2/2016
    BEC - 8/20/2016
    REG - TBD
    FAR - TBD

    I am so ready for this nightmare to be over. Been at this way too long.

    #1426314
    Anonymous
    Inactive

    That's the only reservation I would have about going to a much bigger firm in a senior role. I sort of have responsibility consistent with a senior role but I can't say with full confidence I could do that senior job. I think I could, but I'm just saying I don't know what exactly it entails.

    I needed public experience so I wasn't too picky when going to my current job. Although they stressed there was so much opportunity for growth, so I took that as you rank up similar to what a big4 firm does. And our firm is top heavy, our managers have 15+ years experience, they just don't promote that much. These are things I wouldn't have known in interviews, I've heard from co workers in my experience here. Also that they don't pay that well.

    In any case it doesn't matter. We have reviews after tax season so I'll see what they have to offer. But if they low ball because I don't actually have my license I'll be disappointed. I have the hard part done.

    22% is great congrats on that! I just wasn't sure if around 2 years is typical

    #1426935
    rhayder
    Participant

    I think you need to focus on getting your CPA so you can move up where you are. It sounds like it is within your control whether or not you move up. You haven't mentioned any advantage to switching firms really. Unless you can get experience in an areas you want to specialize towards, more pay, or more responsibility, there is no reason to take the risk of moving where you might not like it or might not like the team you are working with.

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