[Anonymous]

Can you guys share some of your preferences:

CPA vs PRIVATE INDUSTRY

Status vs Money

Audit Manager (CPA firm) vs Controller (Private Industry)

Audit deadlines vs Board deadlines

Long hours vs More stress

Thanks for sharing

[Tncincy]

After going through so much with this exam, I think I just want a job…..I'm not sure if I want to continue with my business either. Just tired :-/

It begins with a 75
Been here too long as a cheerleader....ready to pass

[amandafaith15]

I work as a controller for a small company. We were closer to mid-sized then the price of oil dropped. I enjoy being in all areas of accounting and I really enjoy being in industry. Plus with this company and being smaller and outside of a big city I'm not expected to work more than 40 hours a week. Which makes it great while studying.

I have only worked part time at a CPA firm so I can't speak much to it, but I plan on staying in industry.

REG -73 (8/2015) 81 (10/2015)
AUD - 73 (11/2015) 84 (1/2016)
BEC - 84 (2/2016)
FAR - 77 (6/2016)

[saemandr]

I worked in IA and now I am working in Audit in public accounting

I'd say..

40 hours, except during “busy season” (which was only 3-4 weeks) in IA, and 45 charge hours minimum, except during “busy season” (which is 2 times a year for 2-3 months each, and for that I was closer to 60-65 hours a week) for public accounting

Money wise, I moved across the country so I was a lot less in IA than public accounting, but currently, with my experience in public, I get asked for interviews for jobs in industry that pay more than I make now

Deadlines… In IA, our deadline was year end, so not too stressful when you have an entire year to complete your testing.. public accounting, some jobs are only a week long, so pretty stressful when you only have a week to complete the work that it took them 2 weeks to do in prior year.

Perks of public compared to IA industry:
1. more flexibility (at least in my IA role, we HAD to be there 40 hours a week and be seen from 8-5 every day)
2. option to work from home whenever you want, as long as you're not at a client or schedule for an in-person meeting
3. plenty of opportunity for advancement

Perks of IA industry compared to public:
1. less hours, less stress
2. little to no travel (at least for me there was little to no travel)
3. way better work/life balance overall

REG - 73, 69 ugh
AUD - 11/21/2015
BEC - Jan 2015
FAR - April 2015

Becker Self Study/NINJA Audio/NINJA Flashcards

[fuzyfro89]

“CPA vs PRIVATE INDUSTRY”
Generally more exit options (earlier in career) in public vs private, though specializing early on can also be a good thing if you have a skill set that is highly sought after.

“Status vs Money”
Everyone likes to put other people down. Public acct vs industry. Lawyers vs Bankers vs Consultants vs Accountants vs Doctors. Who gives a f&ck? Worry about your specific job and how you will develop professionally, and learn how to brand yourself (in the recruiting world). At lower levels in your career, company brands and such matter, at the mid and executive ranks, it's all about experience (and not just in technical work, though that's obviously important).

“Audit Manager (CPA firm) vs Controller (Private Industry)”
Controller is a very broad term. A controller could be someone who gets paid 150k at a mid sized company or 500k at Apple.

“Audit deadlines vs Board deadlines”
Not sure I understand this one?

“Long hours vs More stress”
Not necessarily the same thing, but definitely correlated. I find myself very stressed after a 8-9 hour day if I spend the entire day manually reconciling some cost spreadsheets, but can be energized (even if a little tired) after a 10-11 hour day if I'm rushing to review for a new product launch or strategic plan project. Just something to think about when looking at new jobs at some point that less/more hours (within a few hour range) won't necessarily be more/less stressful.

[Anonymous]

First and foremost would recommend that if you want to do Public at some point in your career you should probably start with it. I spent 3.5 years in corporate (mix of both finance and internal audit) before going to public to work for a firm with a close friend of mine. Thought I would enjoy it and would be a good experience (based on the things he had told me about his job over the years). That was the most stressful 8 months of my career. It is very hard to work in a time budget driven environment after having done corporate. The mindset required is completely different. It drove me crazy that I could not dig deep into the things I did and felt that I got more heat for going over budget when putting in extra effort/hours than thanks.

Eventually decided to go back to corporate and now in an expense type controllership role and love it. Had I started in public maybe I would have enjoyed it more since I would not have already been exposed to what the corporate side is like.

The feeling I got though is that job security (if you do a good job) is better on the Public side. There is enough natural turnover that they do not really need to lay off people that do a decent or better job. It's more up to you to decide how long you stick around.

Best aspect of Public was the ability to see multiple industries in a short period of time.

As far as work life balance goes it really depends on the role. I've met people in corporate who work just as many hours as people in public during busy season. Current corporate job is just one busy week (during month close) otherwise 40-45 hour weeks. In public I was in a risk advisory type role so there was no busy season, just steady 50-55 hour billable hours week year round (but in reality I worked 55-70 depending on the week, did not bill it all because of pressure to meet budgets).

[Anonymous]

I would always suggest public up front, especially if you don't know what industry you want to be in, as in most firms you'll be exposed to several.
And you'll get a better feel of what audits look/feel like (if you're in auditing). It translates into what you need to do for auditors when you are in private.

Status vs. Money
Each company is arbitrary. I'm not a huge status person myself.. more concerned with my pay check.
There's definitely oomph behind saying “I'm a CPA”, regardless of what/where you work.
As for money.. again depends what firm you're working for etc. I'm in private and make much more than I did in public.
Some firms I made a decent amount at, other firms I made crap at.. however was expected to work many more hours.

Audit Manager vs. Controller
In private, I have found that we have a more diverse base – everyone is expected to wear several different hats. I.e. I get to do my beloved financials, but I get to do product development, IT programming, staff development, data analysis.. more fun stuff. The constant checklists made me want to die from boredom in auditing.

Audit deadlines vs. board deadlines
Again.. based on your industry. Board deadlines can be stringent.. but you also have state compliance depending on what industry you're in, that can be even more stringent. I don't see much difference in this.. just more frequent deadlines in private

Long hours vs. more stress
I worked 90-100 hours a week in public at one time for minimal pay (think 30K with no benefits at all)
Now I work 37.5 hours a week, and a little more during tax season. It's glorious.
Stress is still there, but not as much because I don't hate waking up every day anymore, and much more worth it.

[12tang]

I was absolutely convinced that public was the way to go and I heard this over and over. In my opinion, I think if you live in a good area (saturated with businesses), you'll be fine either way, and perhaps even might like private a little more. I believe this to be true given the high high demand for accountants in both areas. Public has it's pros and cons, as well as private. It's a decision that you will have to make.

Let me tell you my experience. Hired at a decent sized construction company as an assistant controller. Awesome benefits and the highest salary out of my college that me and my professor (who spearheads recruiting for college grads) is aware of. I work 40-45 hrs a week and I have a TON of room to make my own decisions. Almost everything I mentioned thus far, you simply won't find at ANY public firm, except for maybe good benefits…

Generally, you're in the SUCK with public until you make manager or depart to industry. Then you'll be wondering if it was all worth it. Who knows, just do what feels right.

Using Becker self-study
FAR: (82) 175 hours - 1st attempt
BEC: (XX)
AUD: (69) 45hrs of study - 1st attempt
REG: (XX)

[Anonymous]

I think one's experience will vary from firm to firm or company to company. I don't think there is a one size fits all career path. I think the only thing that is for sure is that if you work in public accounting, you will work the hours during the busy season (provided you work for a firm that receives business).

When I was in college all of my professors pushed the public accounting route. However, I graduated in 2008 and the job market was declining, especially in my area. I applied for some of the regional firms and didn't even got a call back. I was blessed to find a job in industry before I graduated, while many of my classmates were unemployed for the first year after graduation. This was not my ideal job by any means. My starting salary was $25k a year as an accountant in the bank reconciliation group of a fortune 500 company. My boss was very strict and I worked more than 40 hours regularly with no overtime pay (I was considered exempt).

However, my experience there allowed me to land a job with a great private company several years later. I am a senior accountant and never work more than 40 hours a week. My salary, including my performance bonus, is fairly close to what a big 4 manager makes. We have some of the best benefits around and I have the ability to flex my schedule as needed. I consider my job pretty low stress.

I say all of this to say that there isn't a perfect answer as to which career path will pay more or have better work/life balance. Everyone will have a different answer because everyone's experience is probably different. However, the consensus is that public accounting is a faster track to more money and advancement. However, its usually a trade off for more hours and more stress.

[msgolds]

I would echo a lot of the sentiments on here, at least do a few years in public / consulting. It's a tough job with long hours, but the experience you get out of it will be invaluable. I moved to private accounting four years into my career. Much better job / hours, but I am glad I had my public and consulting experience first.

BEC - 90 PASSED
FAR - 84 PASSED
AUD - 93 PASSED
REG - 84 PASSED

I DID IT!!!!

Using Becker Self-Study

"If we were put here to carry a great weight, then the very things we hate are here to build those muscles."

[Missy]

I agree with benboy, depends on the company. I am and always have been in private industry (for over 20 years) and have had 40 hour per week jobs and 60 hour per week jobs. I think you should start with where exactly you see yourself in 5 or 10 years then work backwards, and of course that is entirely personal to you.

I always wanted to work for a small, private manufacturer. I disliked working for a huge publicly traded company because we had a large accounting department and it was easy to get niched. Rarely got the chance to try new things, never got to do any research on issues, seemed almost spoon fed to me and I couldn't wait to get out but I was out every day at 5.

Now I basically am first in charge for a small office (my boss only comes in once a quarter) and I see every single thing that goes on here. But it is stressful, lots of hours, I'm in every day at 7:30 and can't leave before 6. Have to be available as early as 4am in case I”m needed by the UK, and will be traveling over there a couple times a year. If I take vacation I still have to process payroll, have no backup for HR/Personnel issues, etc. But I love every minute of it.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

Finished school 12/2014 and started and finished the cpa exam….started this September at a mid-size firm. Not sure if I want to make this a career yet. I'm not looking forward to working more hours for the same amount of money lol. I haven't done much here so I can't really say if I like it or not. I really appreciate others sharing their opinions and career paths!

[Author]

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