Considering a Career Transition
I’m currently a Tax Associate in the Midwest, having graduated in 2023 with both a bachelor’s and master’s degree. I’ve been in my role for 8.5 months and passed my CPA exams (4/4) – now just need the professional experience.
Recently, I received an offer for a staff position at a private company that manages several golf courses and country clubs. They’re offering a salary of $60k, along with benefits including a decent 401k, though it has a 5-year vesting period, and the insurance is slightly more expensive than what I have now. The perks include 18 days of PTO (6 holidays and 12 days that I accrue), an opportunity for a $6k bonus, and the best part – I live just 5 minutes away. In this role, I would primarily serve as the accountant for my club, with some responsibilities in financial planning and analysis.
Currently, I’m earning $75k in tax, which comes with great benefits like instant 401k matching, “unlimited” PTO, and the flexibility of working remotely. However, if I had to go into the office, it would take me about 1.75 hours each way using public transit and walking, leading to a total of around 3.5 hours in commuting. Since starting in July, I’ve logged roughly 700 chargeable hours, and I suspect my firm may have overhired; with my hours being so low, I’m concerned that I could be at risk of being let go, even though my manager and partner recognize my strong work ethic. My goal is around 1,500 chargeable hours, but with only 2 months left in the fiscal year, I’m worried about reaching that target. Additionally, I have anxiety about a possible return-to-office scenario, which is not required now but seems likely in the future.
I’m eager to move away from tax and into a more dynamic industry role, where I can continue to evolve in my career. On top of my main job, I also earn around $30k annually from side projects, which comfortably covers my mortgage and bills, meaning that my salary from work is essentially “extra.”
Would considering a $15k pay cut be unreasonable? I’m aware that entry-level salaries have risen significantly, but in my area, it seems likely that any other opportunities would offer a lower pay scale. If I remain in my current position for another couple of years, I can’t envision being able to transition into an industry role unless it’s another tax-related position.
One response
It sounds like you have a lot to consider with your current situation and the job offer on the table. Here are some thoughts to help you weigh your options:
Career Goals: If your long-term goal is to transition into industry and gain diverse experiences, the position at the private company may align better with that ambition. It seems like a great opportunity to play a significant role as the accountant for a golf course and country club, and the FP&A work could further enhance your skill set.
Work Environment: The fully in-office requirement of the new role may be a downside, especially since you’re currently enjoying the flexibility of remote work. However, if the new job offers a more stable work environment with potential for growth, that could outweigh the commuting aspect—especially since you live just 5 minutes away.
Job Security: Given your current concern about the possibility of being let go due to low charge hours, taking a stable role in industry could provide more job security. It’s always a risk to stay in a position where you feel overhired, especially in a competitive field like tax.
Financial Considerations: While a $15k pay cut is significant, you mentioned that your side ventures cover your mortgage and bills, which gives you more flexibility in making this decision. Additionally, consider the potential for bonuses and the benefits package at the new job, which could offset some of the pay difference.
Experience and Skills: The experience you’ll gain in a more diverse role could open up future opportunities for you, especially if you’re looking to move away from tax-focused roles. Networking and building skills in a different area can be invaluable in the long run.
Quality of Life: Consider the impact on your work-life balance. A shorter commute and less stress from the current job could significantly improve your overall quality of life.
If you do think the new role would better align with your long-term career aspirations and lifestyle preferences, it might be worth making the transition, even with the pay cut. Ultimately, it’s about where you see yourself thriving both professionally and personally. Trust your instincts on what will be best for your future!