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Started By
Message
CPA's Exiting Public Accounting
Posted on 3/16/15 at 12:42 pm
Posted on 3/16/15 at 12:42 pm
Currently considering making the move out of public. Fourth busy season is starting to finally wear me down. I'm currently close to becoming a manager in my firm and know I have to make a decision soon before I become less attractive to industry. I know plenty of people want CPAs and its an attractive designation but what industries should I be looking at harder than others? Anybody here with this experience? Are you glad you made the move?
11
Posted on 3/16/15 at 12:56 pm to Jabstep
Get into healthcare or education and write me a thank you note.
Posted on 3/16/15 at 12:56 pm to Jabstep
Wish I had did it 10 years earlier
Posted on 3/16/15 at 1:01 pm to anc
Been 60+ hours a week since first week of Jan. it's just tiresome. Is that what you've done? Most people say its more money an less work.
Posted on 3/16/15 at 1:02 pm to TigerinPurgatory
You stayed in public too long? Did you find it difficult getting out after a certain point?
Posted on 3/16/15 at 2:40 pm to Jabstep
I'm in my third busy season (first at a new firm) and it just sucks. I don't mind the work the rest of the year, but Feb, March, and April take years off your life.
Posted on 3/16/15 at 2:52 pm to AbsolutTiger
Exactly. Just starting to wonder if I want to live a quarter of my life putting in 60+ hours and stressed to the max and working 6 days a week. The lure of becoming a partner is appealing but idk if its appealing enough.
Posted on 3/16/15 at 3:04 pm to Jabstep
Nope. Just have an abnormal amount of accounting friends and family that have all been where you are.
Those two industries seem to be where its at. One friend is a comptroller for a small college. Makes more than he did at a Big 4, works 40 hours a week (an occasional 45-50), has killer retirement and his kids go to college for free.
Those two industries seem to be where its at. One friend is a comptroller for a small college. Makes more than he did at a Big 4, works 40 hours a week (an occasional 45-50), has killer retirement and his kids go to college for free.
Posted on 3/16/15 at 3:11 pm to Jabstep
Are you tax, audit, other?
Posted on 3/16/15 at 3:22 pm to LSUFanHouston
Was strictly tax for two years but family relocated am currently doing both tax and audit. Enjoy tax a lot more but the busy season is just brutal. I have a lot of upward mobility here but starting to question if its worth it. Almost fearing a promotion to manager because of the possibility of getting trapped. What level are you at Houston? Sticking with it?
Posted on 3/16/15 at 3:23 pm to anc
That's sick.
Posted on 3/16/15 at 3:29 pm to Jabstep
quote:
Exactly. Just starting to wonder if I want to live a quarter of my life putting in 60+ hours and stressed to the max and working 6 days a week. The lure of becoming a partner is appealing but idk if its appealing enough.
I don't even find being partner appealing anymore. I've probably got one more busy season in me and I'm done. Being chained to work for a quarter of your life isn't fun.
Posted on 3/16/15 at 3:41 pm to AbsolutTiger
quote:
I don't even find being partner appealing anymore.
I never had any interest at getting to that level.
As for industries, around here oil & gas is going to pay the best by far
Posted on 3/16/15 at 3:47 pm to yellowfin
Appreciate it. When did you make the move yellowfin? Glad you made the decision?
Posted on 3/16/15 at 4:14 pm to Jabstep
quote:
When did you make the move yellowfin?
I did about 5 years in public
quote:
Glad you made the decision?
never regretted it for a minute
Posted on 3/16/15 at 5:12 pm to Jabstep
I considered making the switch from industry to public but decided against it because I was offered considerably less than what I was already making. If you get with the right company you can make a very good living in industry.
Posted on 3/16/15 at 5:15 pm to Jabstep
quote:
What level are you at Houston? Sticking with it?
This is my 10th tax season. I am a manager - our firm doesn't distinguish between managers and sr managers - we are all just managers, and partners are above us. We are a two office large local firm.
This has been by far, to date, the worst tax season I've seen. The IRS foolishness with the 3115s, and the fact I now have to be an Obamacare expert, is causing lots of issues. We've had some operational issues as well. I expect by the time 4/15 comes around I will have worked 20 percent more OT than the next busiest tax season.
The part of my job where I get to consult with my clients, help small businesses get off the ground and help them find ways to save money... I love that part of my job. Tax compliance, though, has become a nightmare. The forms make less and less sense each year, the software never works, and clients don't want to pay for compliance.
I have never considered leaving public - before this year. The way this has gone, I may seriously think about it. My kids are getting upset with not seeing me as they are now old enough to know I'm working a lot.
Problem is... I think I would be bored to death in a corporate job. The thing I love about my job is getting to work on different things and different people every day. If I had to do the same stuff every month, I'd go stir crazy.
Posted on 3/16/15 at 5:35 pm to LSUFanHouston
quote:
Problem is... I think I would be bored to death in a corporate job. The thing I love about my job is getting to work on different things and different people every day. If I had to do the same stuff every month, I'd go stir crazy.
I always said that. Now I do all kinds of different unboring things in my personal life. I love knocking out my boring work so I can hurry home to live. The funny thing is I don't make less money in industry contrary to what everyone told me in public and in college.
ETA: Plus if you go to a large enough company then you won't get bored. If you are that good there is no project they won't give you. No matter what department you are in...Tax or GL or Corporate Accounting.
This post was edited on 3/16/15 at 5:37 pm
Posted on 3/16/15 at 6:32 pm to Jabstep
Go learn everything about the bank regulatory world - know the regulations better than the regulators.
Bank boards will pay you handsomely to get their IT, business continuity, camel, consumer compliance issues remediated.
Bank boards will pay you handsomely to get their IT, business continuity, camel, consumer compliance issues remediated.
Posted on 3/16/15 at 8:05 pm to LSUFanHouston
Sounds like we are all experiencing the same issues, especially with the ACA and the growing concern about clients not wanting to pay for the compliance. I just don't see how I can enjoy doing this another year.
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