Am I better off pursuing an internal Audit position at an “IBaB” rather than choosing public Accounting?
I recently received an offer for a late summer 2025 internship in internal Audit at an IBaB. Initially, my search was primarily focused on public Accounting firms, as that’s what my school typically encourages. However, I had no luck landing any positions. Now, I’m struggling to identify the downsides of this path compared to public Accounting, where the hours are grueling, and the starting salaries are lower.
Am I overlooking something? Is career advancement more challenging in internal Audit? Is the work-life balance really as favorable as it seems? Will I encounter difficulties finding exit opportunities later on? Have I stumbled upon a less conventional route that others might not consider?
I would greatly appreciate any insights, as I’m even contemplating whether to pursue additional credits for CPA eligibility.
One response
Congratulations on your internship offer! It’s a great opportunity, and it’s perfectly reasonable to weigh your options carefully.
Here are some points to consider regarding internal Audit at an “IBaB” versus public Accounting:
Work-Life Balance: Generally, internal Audit positions tend to offer better work-life balance compared to public Accounting, where long hours, especially during busy seasons, are common. If you prioritize a healthier work-life balance, internal Audit could be a good fit.
Career Progression: Career progression can vary significantly between internal audit and public Accounting. Public accounting often provides a clear path for advancement and the opportunity to build a strong professional network. However, internal audit can also lead to advancement opportunities, particularly if the organization values internal audit as a key function.
Skill Development: Public accounting offers rigorous training and exposure to diverse industries. It can enhance technical skills in auditing, tax, and advisory services. Internal audit may provide specialized skills relevant to that specific industry, which might be equally valuable, depending on your career goals.
Exit Opportunities: Public accounting often opens doors to a variety of exit opportunities, including roles in finance, consulting, or industry-specific positions. Internal audit can also lead to opportunities in risk management, compliance, or operational roles, especially in the industry where you are working.
CPA Eligibility: If you enjoy internal audit and see a future in it, you might find that obtaining a CPA is less crucial for your career path. However, if you have a long-term goal of moving into public accounting or other finance roles, being CPA-eligible could be beneficial.
Networking: Public accounting firms often have larger networks and resources for mentorship and career support. In contrast, smaller companies may have a more limited network but can provide a close-knit work environment where you might forge strong relationships.
Personal Preference: Consider where your interests lie. Do you prefer the dynamic, fast-paced environment of public accounting, or are you more inclined towards the stability and structure of internal audit?
In conclusion, there is no one-size-fits-all answer. It’s important to align your decision with your career aspirations, work-life balance preferences, and personal interests. You may have found a viable pathway that many overlook, especially if it resonates with your professional goals. Take the time to weigh these factors, and feel free to reach out to professionals in both fields for their perspective. Good luck!