[Anonymous]

Hi all,

I’ve been reading over a few posts and keep seeing people say that “people don’t want to go INTO public accounting, but instead start in public accounting and then leave to private or industry.” Can someone please tell me why this is the case?

I recently graduate from undergrad in June and was just offered my first job in public accounting at a small/mid sized firm in the Seattle area this past weekend. Starting pay is $54k + benefits, which is pretty good, so I don’t see why people want to LEAVE public? Or am I just naive and oblivious? Basically I am asking what the Pros/Cons of public are. Lol, any help is much appreciated. Thanks all.

[vanadium3]

I recently heard there's no 8 hours days if you are in accounting. doesn't matter where you are. it's just a matter of how much more you have to work.

maybe this is true for the overall new generation of any field. people get laid off and the rest just have to work more to make up the work. thoughts?

CPA

[UCMCPA]

I'd say my working conditions are much better than those in China.

@vanadium. I agree, I think they just continue to try to squeeze every last drop of productivity out of people (for the most part).

FAR - 84
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BEC - 86

[UCMCPA]

I'd say my working conditions are much better than those in China.

@vanadium. I agree, I think they just continue to try to squeeze every last drop of productivity out of people (for the most part).

FAR - 84
AUD - 94
REG - 86
BEC - 86

[wizards8507]

@vanadium3, not in my experience. I work 40 hours per week except at month- and quarter-ends. Month end has one lateish night (10:00). Quarter end has two lateish nights (10:00, 10:00), and year-end has four lateish nights (10:00, 11:00, 10:00, 9:00). I'm in a very large (Fortune 100) company and earn $60K+ per year with two years experience.

NY CPA

[wizards8507]

@vanadium3, not in my experience. I work 40 hours per week except at month- and quarter-ends. Month end has one lateish night (10:00). Quarter end has two lateish nights (10:00, 10:00), and year-end has four lateish nights (10:00, 11:00, 10:00, 9:00). I'm in a very large (Fortune 100) company and earn $60K+ per year with two years experience.

NY CPA

[Mayo]

“I've been reading over a few posts and keep seeing people say that ‘people don't want to go INTO public accounting, but instead start in public accounting and then leave to private or industry.' Can someone please tell me why this is the case?”

Well, think of public accounting like basic training (Been there done that. Big 4 audit is actually more of a mind $&@#. Go figure). When you're in basic training they're teaching all kinds of stuff under a stressful environment.

Right when you get out, a recruit is all gung ho, trained, and, as they call it, “high speed”. You're in good shape, can probably break down an M16 quickly, and (in theory) perform tasks quickly, effectively, and with a good attitude about it. Where the analogy breaks down is that Basic training is only a few weeks. In public accounting you're constantly being challenged and taken out of your comfort zone. You're always learning about new accounting rules, management skills, client communication skills, project management skills, etc. So it's the same environment, but it goes way beyond “Basic”.

Now imagine that level of stress and structure lasting for four…five…ten years. It just gets old. Basic training is basically 24/7, and for some unlucky few so is the public accounting experience. For most of us it just feels like 24/7. But the reality is that budgets are usually too small rather than adequate, staffing is usually too low rather than too high, and the time spent at work is usually too much to be considered balanced. And the stress to get things done, responsibility for multiple clients, and demands from family can be overwhelming at times.

In essence: People burn out. They want lives outside of work or they want to be compensated better. So they jump to industry for greener pastures. Some even take a chane and stay and try to make partner. But it's not worth it IMO. For some it is.

Long story short: Public accounting is not a long term solution for most people because the lifestyle is just too demanding. However, it is a great training ground for those looking for a job in industry. Hope that answers your question.

Mayo, BBA, Macc

[Mayo]

“I've been reading over a few posts and keep seeing people say that ‘people don't want to go INTO public accounting, but instead start in public accounting and then leave to private or industry.' Can someone please tell me why this is the case?”

Well, think of public accounting like basic training (Been there done that. Big 4 audit is actually more of a mind $&@#. Go figure). When you're in basic training they're teaching all kinds of stuff under a stressful environment.

Right when you get out, a recruit is all gung ho, trained, and, as they call it, “high speed”. You're in good shape, can probably break down an M16 quickly, and (in theory) perform tasks quickly, effectively, and with a good attitude about it. Where the analogy breaks down is that Basic training is only a few weeks. In public accounting you're constantly being challenged and taken out of your comfort zone. You're always learning about new accounting rules, management skills, client communication skills, project management skills, etc. So it's the same environment, but it goes way beyond “Basic”.

Now imagine that level of stress and structure lasting for four…five…ten years. It just gets old. Basic training is basically 24/7, and for some unlucky few so is the public accounting experience. For most of us it just feels like 24/7. But the reality is that budgets are usually too small rather than adequate, staffing is usually too low rather than too high, and the time spent at work is usually too much to be considered balanced. And the stress to get things done, responsibility for multiple clients, and demands from family can be overwhelming at times.

In essence: People burn out. They want lives outside of work or they want to be compensated better. So they jump to industry for greener pastures. Some even take a chane and stay and try to make partner. But it's not worth it IMO. For some it is.

Long story short: Public accounting is not a long term solution for most people because the lifestyle is just too demanding. However, it is a great training ground for those looking for a job in industry. Hope that answers your question.

Mayo, BBA, Macc

[Anonymous]

@Mayo – That response was amazing and answered my question perfectly. Thank you. I decided to accept an offer at a local regional firm. The only disappointing part about my decision was that I wasn't able to finish out the recruiting process with a couple other firms. I had friends inside those firms that have been helping me during this process and I've made some great connections, so I feel that I let them down since I cancelled some upcoming interviews.

However, Accounting Today did just rank my firm in the Top 3 ‘Best firms to work for 2013' for medium sized firms, so that is obviously a plus. Also I'm getting what I believe to be a very solid pay ($2250/pay period, is this normal for starting?) and am absolutely ecstatic to finally be starting my career this January! Hopefully I will be one of the wierdos who enjoys public accounting 🙂

Thanks for all of the info, everyone! Much appreciated.

[Anonymous]

@Mayo – That response was amazing and answered my question perfectly. Thank you. I decided to accept an offer at a local regional firm. The only disappointing part about my decision was that I wasn't able to finish out the recruiting process with a couple other firms. I had friends inside those firms that have been helping me during this process and I've made some great connections, so I feel that I let them down since I cancelled some upcoming interviews.

However, Accounting Today did just rank my firm in the Top 3 ‘Best firms to work for 2013' for medium sized firms, so that is obviously a plus. Also I'm getting what I believe to be a very solid pay ($2250/pay period, is this normal for starting?) and am absolutely ecstatic to finally be starting my career this January! Hopefully I will be one of the wierdos who enjoys public accounting 🙂

Thanks for all of the info, everyone! Much appreciated.

[Mayo]

Glad it helped. For the,record, I enjoy my work. Just wish there wasn't so damn much of it 😛

Case in point: got off at midnight tonight. Not even busy season.

Mayo, BBA, Macc

[Mayo]

Glad it helped. For the,record, I enjoy my work. Just wish there wasn't so damn much of it 😛

Case in point: got off at midnight tonight. Not even busy season.

Mayo, BBA, Macc

[Study Monk]

As someone already mentioned…smaller firms can be a long-term solution. I worked at a small firm where the pay was competitive and I didn't work more than 40 hours in busy season and I sat on my ass doing nothing for weeks at a time after busy season. Other small firms will work 50 or 60 hours in busy season and not have much work until they do tax extensions and 401k audits in the winter months opening up the summer for long vacations.

Some small firms pay time and a half and have optional schedules where you can take 3 months off during the year at a reduced salary. You think you can take even three weeks off a year in private practice when you are a Controller? I have been out of public accounting for a long time and plan to pass my CPA, so I can get a job with a small firm. I will not even apply to Big 4 at this point. Big corporate entities like that tend to have less remorse when they chew you up and spit you out.

I wouldn't go into your new job assuming it is temporary. If you give it a shot and learn to appreciate the slower months and take long vacations you might stay long enough to make partner and/or gain the experience to work for yourself.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Study Monk]

As someone already mentioned…smaller firms can be a long-term solution. I worked at a small firm where the pay was competitive and I didn't work more than 40 hours in busy season and I sat on my ass doing nothing for weeks at a time after busy season. Other small firms will work 50 or 60 hours in busy season and not have much work until they do tax extensions and 401k audits in the winter months opening up the summer for long vacations.

Some small firms pay time and a half and have optional schedules where you can take 3 months off during the year at a reduced salary. You think you can take even three weeks off a year in private practice when you are a Controller? I have been out of public accounting for a long time and plan to pass my CPA, so I can get a job with a small firm. I will not even apply to Big 4 at this point. Big corporate entities like that tend to have less remorse when they chew you up and spit you out.

I wouldn't go into your new job assuming it is temporary. If you give it a shot and learn to appreciate the slower months and take long vacations you might stay long enough to make partner and/or gain the experience to work for yourself.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Anonymous]

@study monk – “I wouldn't go into your new job assuming it is temporary. If you give it a shot and learn to appreciate the slower months and take long vacations you might stay long enough to make partner and/or gain the experience to work for yourself.”

I am going into my new job in public with the mindset that I will be there for a longggg time. Thats why I made this post because I was wondering why people always were trying to get out of public accounting. Seems like people just burn out and have enough of it. I will be starting in January aka the beginning of busy season. Hopefully it all goes well 🙂

[Anonymous]

@study monk – “I wouldn't go into your new job assuming it is temporary. If you give it a shot and learn to appreciate the slower months and take long vacations you might stay long enough to make partner and/or gain the experience to work for yourself.”

I am going into my new job in public with the mindset that I will be there for a longggg time. Thats why I made this post because I was wondering why people always were trying to get out of public accounting. Seems like people just burn out and have enough of it. I will be starting in January aka the beginning of busy season. Hopefully it all goes well 🙂

[Author]

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