[Anonymous]

First of all, please accept my apology in advance for a long post. I’ve been at my firm for two busy seasons (which is the equivalent of two years in the accounting world), with a year and a half of prior industry experience.

I’m feeling very disenchanted with my firm after our annual review. The bonus + raise was offensive for what all considered to be good work. I feel the problem lies in the evaluation process. In addition to being very political, subjective, and inconsistent, evaluations are based on “expectations” instead of performance. If someone performs well, but they are expected to perform well, they will get a lower rating than someone who was expected to screw up, but performs well. My bonus suffered as a result of this. Regarding raises, I know public accounting only gives huge raises with promotions, but come on, I would have thought they’d give me something for have a family to take care of, as I’m not your typical 20-something single kid. Basically, I feel frustrated, betrayed, and that my firm doesn’t value me or care about my family. Maybe this is immature, but to me it is a very real feeling.

So I’m looking. Had an interview today for internal audit in industry that went really well; I’m 90% sure I’ll get an offer, and I’m told my by recruiter to be prepared to only get 10-12% more than what I’m making now. I’ll try to get $10k more than what I’m making now, but would settle for a few grand less as it would still be a substantial per-paycheck net increase, and it would be a 13% increase over my current salary, so close to the 10-12% increase which is standard for my market. Plus, benefits will be cheaper and I’ll get to see my family more. Win win.

Unless it’s too early to leave public. I just feel that my firm will become a self-fulfilling prophecy. I have the perception they don’t value me, so I won’t work as hard because “what’s the point”, etc. Fortunately, another firm has recently reached out to me, saying that if my interview goes well, they’ll start me at no less than $10k higher than what I’m at now. This would be the equivalent of senior pay at my current firm (which pays below market, but prides themselves on a good work-life balance) and is unheard of for experienced staff pay in my locale. In addition, there are a plethora of other things that make this firm more attractive, despite being much smaller. The only downfall would be it’s, well, still public.

I’m hoping to get an offer from both so I can for sure leave my firm, as I think it’s time for a fresh start. It seems the people who move up at my firm are asskissers, or assholes, and I’m neither, and they know that. I understand sometimes you have to play the game, but it’s too late for me to start where I’m at. I also feel like my “coach” doesn’t give a crap about my goals and wants me to have the same career path he did, even though he is 3 years younger than I am and doesn’t have my family obligations.

But if I do just get an offer from the industry job, what are y’alls thoughts? Is it too early to leave public, even though I have no desire to stay at my firm, and there’s no clear timeframe to advance to the next level? Could be December, could be a year from now, and so on. Has anyone left at 2 years, and if so, what are your experiences? I can make the money now that it will take another year or two to make in public, and better bonuses. On the flip side, if I suck it up and stay in public another few years, I can *maybe* get promoted and be able to transition to industry at a higher level, or I can go through this same crap next summer, and only make a little bit more money when I switch to industry than I would now, at which point I would be making that much anyway due to a raise after a year in industry. I feel like since I do have a few years in public, I can keep advancing in industry as I would in public.

What are your thoughts and experiences? Candid responses are welcome. I actually don’t hate public accounting. I’m just not happy at my firm because I feel my opportunities are limited and that the firm’s timeline and my timeline are not on the same page.

If you got offered both positions, which one would you take? The industry gig close to the house, or the public gig downtown?

If you just got offered the industry position, would you take it, or stay in public? If you choose the latter, how long?

Eager for your thoughts…

[fuzyfro89]

“I would have thought they'd give me something for have a family to take care of, as I'm not your typical 20-something single kid. Basically, I feel frustrated, betrayed, and that my firm doesn't value me or care about my family”

No firm/company in the world truly cares about your family. Personally, I'm a single 20-something, and I'd be furious if my firm paid a colleague more because he “had a family to support”. Change your mentality, or be ready to fight your whole career for what you “deserve”. Up to you. (not intended to be mean, just blunt)

If it were me, I'd suggest looking carefully for a new role that you'd be happy in. It's not good to “suck it up” for “a few more years”. That's a recipe for you to be unhappy, which means you're not engaged and giving your best effort, and it will show up. You can go down the path of expressing the disappointment to your manager/HR about comp, but be prepared for them to not care. Many times, we have to move in order to reach market value… even within a company (I recently got promoted into a different dept and had this issue since it was so tough to get that promotion in the same role).

“I actually don't hate public accounting…If you got offered both positions, which one would you take? The industry gig close to the house, or the public gig downtown? If you just got offered the industry position, would you take it, or stay in public? If you choose the latter, how long?”

Personal preferences aside, if you like public, and don't have a clear goal afterwards, then you should stay in public until you decide or are willing to take a chance on something new. No harm in trying out something new, just be sure it's something you think you would want and will meet your career/personal goals.

Too many people get stuck on the treadmill of public in the “just 1-2 more years” mentality. It's a recipe for failure. If there's another firm/job out there that would be a better fit, and if you'd be more satisfied (comp, life balance, interesting work, etc), then you may be more successful there, while someone else may be more successful in the current role. From the colleagues I started with in big 4 as a staff, I can see how everyone's path and “right” answer was different. Some people left because the firm environment wasn't for them. Others left for other public firms to get on the clients they wanted. Others left for new fields entirely.

Personally, I left big 4 audit after ~2 yrs to join internal audit at a large public co. 2 yrs after that I was promoted to a financial analyst, where I am now. For me, it was the right fit. I worked pretty hard after leaving public, and even today ~50 hrs/wk is normal, but the pay has gone up considerably as well as responsibility and variety in my work. That's what I wanted, but not everyone.

Again, think carefully about your own career. What do you like and want in a firm? A job? Not only immediately, but in terms of the next 2-4 yrs of progression. It's easy to get caught up and run away from your current firm/job, but just think through your feelings and come to a point of calm/clarity. Trust me, I went through the “rage” as well. “Dafuq?!?! What are these peanuts they are giving me, I billed 2,300 hours last year!!!” Yeah… sh*t happens. I left, and it worked out. Others left, and stagnated. Others stayed, and are top performers and happy with their career progression and options in the coming years. You always have to keep the accelerator pressed to move ahead and always have to be very clear to your management team about career goals. If they can't help you achieve those goals, then no harm done. Shake hands, and look for a place where you can meet your goals. But first, you need to be clear with yourself exactly what those goals are.

Good luck!

[ruggercpa2b]

I left after 2.5 years and am in industry in internal audit. I managed to negotiate an 18% raise when I left. Don't take the first offer they give you and do not take less money because then you are devaluing your public experience.

I think public accounting is for some and not for everyone.

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.

[Anonymous]

Appreciate both of your thoughts. 18% over my current salary is my target, but I could make it work at 13%. I guess my main concern is that if I stay in public, I know I'll be making six figures in 5-7 years, whether I stay in public that long or jump to industry after another few. I assume industry will provide steady advancement as well.

[fuzyfro89]

“I assume industry will provide steady advancement as well.”

Public is very structured. Up or out, as the saying goes.

Industry is very different. Each company is different. Some offer strong visibility into your career path, while others prefer to let you handle your career growth on your own. Also, political games are much more pronounced. In public, your bosses and upper mgmt can dislike you personally, but will have to give you a poor rating (and justify it) in order to hold you back from advancing anoter yr ahead or getting promoted. In industry, promotions/raises are much less structured, and can go to anyone for almost any reason. Zero guarantees.

[Author]

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