Public Accounting vs Non-Profit

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  • #178181
    Kelly_W
    Member

    I’m about a couple years out of school, working for a local CPA firm’s tax advisory team and have received an offer from a nonprofit organization which is compensating very well. All other factors aside, and solely considering long-term career, would I be pigeon-holing myself by moving to non-profit?

    Advise is much appreciated. Thanks

Viewing 8 replies - 1 through 8 (of 8 total)
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  • #422750

    Absolutely. You're asking for a career in non-profit / government if you make that move too early, as opposed to later in your career when you want a breather and 9-5. I just turned down a government job for the same reasons – great job, just not at this point in my career.

    B - (08/29/2013) Passed
    A - (07/02/2013) Passed
    R - (10/17/2013) 73 - Rematch
    F - (05/29/2013) Passed

    #422751
    Jennifer241
    Member

    @Kelly_W

    This is really a question of where you see yourself in 20 years, if you like public accounting well then turn it down. If you want to become partner in public accounting, turn it down. If you see yourself working a 9-5 job with great benefits in 20 years then take the job.

    Also as a side note, I was offered a wonderful opportunity to go work at a non-profit as the CFO, however I didn't want to leave public accounting. I want to own my own firm someday. So I showed my current firm the offer letter and told them I don't want to leave but asked if they could match the offer. I have a lot of experience and they wanted to keep me so they matched it and I got to stay!

    Good luck and let us know what you decide.

    AUD - Jan 9,13 Pass
    REG - Aug 30,13 Pass
    BEC - Oct 26,13 Pass
    FAR - Dec 4,13 Pass

    Licensed CPA in the state of Oregon

    #422752
    Kelly_W
    Member

    @ “P or F” & Jennifer

    Thanks for the feedback!

    To be honest I'm not sure where I belong in accounting. I had no intention to ever be an accountant and I never had to retake a CPA exam, so I might have a niche for this.

    Basically, I just want to try the non-profit route. If the hours are really so great that it allows me to pursue further education then that's awesome, and if not, I want to know that I can still go back to industry, or even public accounting (bringing on the nonprofit experience).

    Personally I believe accounting is accounting.. whether you're crediting fund balance or revenue… whether you're trying to stay within budget or increase shareholder value. The real question is do industry leaders and firm partners frown on hiring someone from the non-profit sector?

    #422753

    I'm telling you… I wouldn't say it is a complete deal killer, but your job hunt will be MUCH more difficult if you want to go from public sector to private sector, e.g. corporate. If you want to get back into public accounting afterwards, it could be good because you will have learned a new industry and that'll be your niche. It is just my belief that when you are young, you should be careful about entering into public sector unless it's with a group like the SEC, or something of the equivalent.

    Side note, “accounting is accounting” is false. The accounting skills you master at a non-profit will be irrelevant to corporate America. Just my thoughts… best of luck with the path you choose.

    B - (08/29/2013) Passed
    A - (07/02/2013) Passed
    R - (10/17/2013) 73 - Rematch
    F - (05/29/2013) Passed

    #422754

    I'm telling you… I wouldn't say it is a complete deal killer, but your job hunt will be MUCH more difficult if you want to go from public sector to private sector, e.g. corporate. If you want to get back into public accounting afterwards, it could be good because you will have learned a new industry and that'll be your niche. It is just my belief that when you are young, you should be careful about entering into public sector unless it's with a group like the SEC, or something of the equivalent.

    Side note, “accounting is accounting” is false. The accounting skills you master at a non-profit will be irrelevant to corporate America. Just my thoughts… best of luck with the path you choose.

    B - (08/29/2013) Passed
    A - (07/02/2013) Passed
    R - (10/17/2013) 73 - Rematch
    F - (05/29/2013) Passed

    #422755
    Anonymous
    Inactive

    Well I can speak to this. I started my career at a big 4. I did my 3 and half years there and got promoted to senior. I was burned out by the whole public accounting working mad hours, my case I was busy from Jan to April, June, Sept and Oct.

    So I left and went into forensic accounting ( government contractor) to audit fortune 500 company. The hour was great. 9 to 5 everyday and small office environment, It was a nice change of pace. The paid was a bit more than the big 4. I worked at that company for almost 3 years, got married and accomplished other personal goals. If I was still in public, my wife said she would not have married me haha. However, I did get bored at certain point and worry about my career path. If I would to stay at that company, my career path would be very limited to that field. I started searching for a new job and was very fortunate that a very large pharma company offered me a position at their financial reporting department.

    I guess it is truly up to you. I was able to accomplished many things after public, sure my career might've side track a bit but I felt it was well worth it. At my new role, I would be busy at quarter end and year end but at least its predicable and my wife is fully on board with it. As she understands, this role will open up more opportunities down the road.

    Sorry for the long long post hah.

    #422756
    StephAV
    Member

    I worked at a regional firm that specialized in npo and government for 3 years then left to work at a NPO. I've been here 5 years. I've had 2 kids, pretty much left public while on mat leave with my first. I just started to get antsy in the last year. Like thinking I'm not learning anymore, not developing. Now I'm working toward passing the exam with my new boss' support. I'm pretty happy. All the while working 35 hours a week. I will say, I took a salary just like a 1,000 more than I was making in public accounting, I thought I'll be working half as much and the benefits are so awesome it was effectively much more. But now, I'm coming up on my 5 year a anniversary with only 2700 in raises and that is not cool. Granted our budget has been pretty awful the last few years, but even then. I'm thinking once I pass the exam I'll ask for them to give me a decent increase to what I'm worth and if not, see ya!

    I think NPO is a great niche personally. You can earn a good living. Just look at their 990 and you can see what the top people are making.

    FAR - 7/13 - 72, 11/13- 74, 2/14- 82!!! Best score ever (for me)!!!
    BEC - 1/14 - 75!!! Perfect score! First Pass! YAY!!!
    AUD - 8/14 - 80!!!
    REG - 5/14 - 72, 10/14 - 66, 1/15 - 78 - DONE FOREVER!!!
    I did 5 of the UNA and CPAExcel classes to earn units.

    #422757
    jelly
    Participant

    It depends. If the prospective organization files a public 990, then you can probably find it out on guidestar. Depending on what the nonprofit does and its funding base, money and resources can be tight (or very plentiful). I deal with nonprofits for extra money on the side, and I would say it's more the non-accounting side of things that I've learned that I've applied to my for-profit clients, i.e. worker classification, workers comp, unemployment insurance, unemployment claims, health insurance eligibility, liability insurance coverages. The accounting stuff would be more like cashflows and budget/actuals tracking, and restricted grant releases.

    Couldn't pass again!

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