[mcchowder]

I got two job offers for a semi-senior auditor:

1. Tier 2 firm (below Big 4) doing mostly government audits and some commercial audits.

2. Large regional firm (200+ employees in 6 offices) doing mostly commercial audits & some SEC company audits.

I expect that I’ll eventually get into private, and I believe the regional firm experience will be more beneficial making me qualified for more of the controller/CFO jobs. The downside is that the regional firm has much less name-recognition. It’s also much smaller which probably means less resources & training.

The Tier 2 firm has much better name-recognition, but it’s still just a tier 2 firm most people haven’t heard of. They have better resources and there’s also the potential to shift to more commercial audits than government audits. The downside is if I am not able to transfer out of government auditing, I fear I will be pigeon-holed into controller & finance director jobs in government. Although they still pay well, they’re still much less than commercial jobs. There’s also a lot less of those jobs available.

Your thoughts?

[thechapman]

@mcchowder I don't see how SEC experience via a regional firm would be less valuable. It's just much much less COMMON than getting SEC experience via big 4 since those firms dominate the issuer market. Doesn't necessarily make it less valuable

For the record, I am starting with a big 4 firm soon. I just find that sentiment to be a little too ridiculous.

EDIT: Just realized you're the OP. If Big 4 is not on the menu, then why the fuss over big 4? My point was simply this: if you want to work in a public company in the future, SEC audit experience could come in handy.

Passed - 2014

[mcchowder]

@thechapman

Yes, that sentiment is ridiculous as I believe you get broader & more relevant experience at smaller firms. But that sentiment is reality. Like I said before, most job listings for public companies require big 4 experience.

Of course, we all know that SEC experience at a regional firm will come in handy for landing a job at a publicly-trade company. But, my question was: How valuable is SEC audit experience going to be as I explore exit opportunities after making manager at a regional firm (#2 above). To clarify, I'm weighing whether the commercial audit experience at the bigger tier 2 firm would be better.

No offense, but it sounds like you are just about to start your career in public accounting. I'm not quite sure you would know about the exit opportunities after making manager. I certainly don't know for sure, which is why I'm asking here.

[thechapman]

@mcchowder Like I said, I am starting in big 4 soon so I'm not just talking trash on it. I was just saying I think any SEC experience is good SEC experience I'm sure. Obviously if your exit opportunities are geared toward issuers, SEC experience is going to be very valuable. It really just depends on 1) whether you plan on exiting public accounting soon, and 2) what your goals are if you do plan on leaving public accounting. If you're looking for manager + advice, then I am not the source. However, you started the thread, and I was only trying to help. Good luck.

The answer is…it would valuable.

Passed - 2014

[mcchowder]

@thechapman Yes, we know! Experience is valuable…

Well, since this thread just got super-long, I'll post a summary and repost my questions.

Basically I want to go the route that will provide me with the best exit opportunities after making manager at a public accounting firm. I have no preference in private, but I do know I don't want to work in gov't. I got 2 offers: tier 2 firm doing 50% gov't audit & 50% commercial audit with no guarantee for getting SEC clients; large regional firm doing two SEC audits, lots of commercial audits, and some nonprofit audits.

I guess what it boils down to is:

1. How easy will it be to transition out of 50% gov't audit as a semi-senior at the tier 2 firm (which is a big city office) into 100% commercial audits?

2. How valuable is SEC audit experience going to be as I explore exit opportunities after making manager?

This is honestly the toughest decision in my life since I likely won't be able to switch industries after making senior.

[thechapman]

You can discount my opinion all you want, but SEC experience outside of big 4 isn't that common. Take that job if it gives you that opportunity and that's what you want to do later.

Passed - 2014

[lakersfan24]

@mcchowder

1. Honestly no one can really tell you for sure how possible it is to make the transition. At some firms it could be easy at others it could be impossible due to staffing reasons. It really just depends on how much the gov't side needs you because they may not be willing to let you go if they're short on staff. A senior I knew was doing both like you and eventually he was too overworked due to the two busy seasons he had to do year after year and he ended up resigning. I always see people leave from the gov't side due to long months out of the office/work being crappy and so they're always short on staff. If the attrition is the same at the Tier 2 then it may not be so easy to transition to 100% commercial.

1a. Currently I see the firm allowing the 50/50 because it gives them the benefit of having you work two busy seasons. One for gov't and one for commercial side. They're essentially hiring one person for something they might normally need two people for. Later on unless the commercial side really wants you you may not be able to make the transition to 100%.

2. And Chapman makes a good point that the SEC experience provided by the large regional would be good experience but the only downside I see is that they probably would only have a few clients like this and you may never even get staffed on one of them.

Out of curiosity what kind of prior experience do you have? Have you worked in public accounting before? How were your performance reviews/are you a top performer? Just wondering because it may change what I said above.

[mcchowder]

@lakersfan24

Yea, I know no one can tell me for sure. I just want to get an idea since I have no idea.

No, his advice is “SEC experience is good if you want to work for SEC Co.” “It's not common.” I think everyone on this forum knows that.

Yes, I've worked in public accounting. 2 years at a small local firm. I'm known by managers and peers to be smart and at the senior level. The partner even thought I was leaving the firm for a senior position (& she's from big 4). So I know I can succeed anywhere as long as I eat the right amount of hours. I also have a CPA and have the knowledge from studying for the exams.

TBH, performance reviews don't mean much at most local firms. Most times, people get promoted due to turnover, not performance. Also, over-performing can be a problem because you end up with the crappy clients.

BTW, the regional firm guarantees that I would work on 2 SEC companies.

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