[Readem]

Hi everyone,

I just received my CPA license not too long ago. I’m 23 and currently work at a large bank doing fund accounting/technology implementation in the back office. I like my coworkers, but feel that opportunities within the industry are somewhat limited.

While interested in making a career move to public accounting, I have some reservations related to exit and the appropriate time to start looking.

According to my manager, I am due for promotion soon at my current job; I imagine I should wait for that? How poorly does it reflect upon me if I leave shortly thereafter?

Also, my firm has promised to reimburse me up to $3500 for exam and licensure fees. It is contingent upon me staying an additional year at the firm, however. Is this worth staying for? Or is the opportunity cost associated with deferring my search simply too great?

Some other factors that may also matter (not sure):

– Although I said fund accounting, I guess I am technically in a hybrid operations/IT role. Most of my time (maybe 50%) is spent writing code in SQL or visual basic for various teams. I’ve also done a lot of stuff in access.

– My promotion would be to a senior associate role on the technology side of the bank. Not sure what this exactly entails, but I imagine it will be more structured than my current role, which I like.

– One primary motivation for me leaving is the desire to live in the Bay area, where most of my family lives.

– I like technology and programming a lot and spend most of my free time doing it as well (I can’t use python at the bank, but enjoy using it a lot at home). My brother recommended that I consider an associate project manager role, but my only concern is that the time and effort I spent getting my CPA would be wasted. What sort of individuals do the major public accounting firms look for in terms of technology development? Strictly computer science majors? Experienced developers? Project managers? Am I grossly under qualified for such positions?

Thank you guys for your time. I still have a lot to learn and appreciate any wisdom anyone has to share.

[ThomasHallberg]

Go to public accounting; you are young like me. Public accounting will slingshot your career in ways you cannot believe. In my opinion, 3,500 is not worth staying. If it is pay you want now, do not go to public accounting. If you want opportunity…… no doubt go public accounting. Everyone has a different opinion, but when I see colleagues of mine controlling banks and making huge career strives after public accounting, it makes the busy seasons worth it.

[ThomasHallberg]

and by the way, congrats on your CPA!

[Son]

Readem, sorry for a blunt question, but are you sure it's worth it salary-wise? I have a friend with a very similar skill set that started at a major bank making around $150k/year in a smaller market. Public accounting in the same market was paying roughly $50k for entry-level positions. If you're making north of six figures (which you could be easily given your job description), I think public accounting will be a step back for you.

AUD - passed
REG - passed
BEC - passed
FAR - passed

[Jdn9201]

Congrats on your CPA! I'd say the best thing for you is take a step back and figure out what your career goals are, then work your way backwards and see how your current job helps or hurts you. You mention you want to live in the Bay area – unless you can live with family for a while you are going to have a really hard time making ends meet if you go into public starting at the bottom. I would also say do not feel like your CPA is a waste if you stay at your current job – accounting plus an IT background is very hard to find. I work in industry and that's one of the things that we look for in new hires. Most of the people will tell you here to go to public – I've never worked in public but you have to decide what works for you and not just do what everyone else does. It's all a trade off – even though my career prospects may have been better with a few years in public – those countless hours you spend is time that you can't get back. And who cares what your resume or paycheck says if you don't have the time to enjoy it? Public may be a good route for you but I thought I'd give my 2 cents. Good luck!

BEC - 88 8/29/15
REG - 82 11/14/15
AUD - 83 1/8/16
FAR - 80 2/29/16

[tud20551]

I don't read your post but I can tell you this

Big 4 or Bust.

[Author]

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