Attention Hiring Managers: How Do You Value Public vs. Private Experience?
It’s a straightforward question, but for those responsible for hiring, how do you assess a candidate’s experience? Does your evaluation differ based on whether they have public experience, private experience, or a mix of both? Do you look for a specific duration of public experience? Is there a threshold of progressive private Accounting experience that allows you to favor a candidate without public experience? Is it more about the quality of experience or the quantity?
I’m seeking insights as I recently stepped into a senior manager role in SEC Reporting and have faced differing opinions from my Director regarding candidate qualifications for open positions.
Having only spent one year in a Big Four firm but dedicating the last five years to advancing my career within my current company, I find myself more inclined to consider candidates who haven’t followed the traditional path of 3-5 years in Big Four before moving on. My own career trajectory demonstrates that diverse experiences can yield qualified candidates who add significant value to the team. However, my Director, a more recent external hire who wasn’t involved in my hiring, often dismisses my suggestions for candidates I believe are strong contenders (for instance, a CPA with 3-4 years as a Senior Accountant in a similar-sized company/industry) if they don’t meet her minimum Big Four experience criteria, which isn’t even listed in the job description.
While she has the final decision-making authority, I’m struggling with the idea of staying at the company if we’re overlooking potentially qualified candidates for open roles. The position has been vacant for months, leading to increased workload on others and raising concerns that we risk losing even more team members without filling these critical roles.
One response
It’s great that you’re seeking different perspectives on this important issue. The debate between valuing public versus private experience in hiring is certainly a nuanced one, and it sounds like you’re already wrestling with some of those complexities.
From my perspective, both public and private experience offer unique benefits, and the ideal candidate often has a blend of both. Public Accounting experience, particularly from a Big Four firm, can provide candidates with a strong baseline in technical Accounting skills, exposure to diverse industries, and a high-pressure work environment that builds resilience and adaptability. However, private experience can bring a deeper understanding of how Accounting principles get applied in real-world business scenarios, and individuals often develop valuable skills in operational finance, teamwork, and company culture that public accounting may not fully capture.
When reviewing candidates, I typically consider these factors:
Quality Over Quantity: The depth of the candidate’s experience often matters more than the length of time spent in either public or private roles. I look for evidence of significant responsibility and impact in their previous positions, whether that’s in terms of leading projects, implementing improvements, or influencing decision-making.
Relevance to the Role: I prioritize candidates whose experiences closely align with the job’s core requirements. If a candidate has a background in a similar industry or has performed tasks directly related to the role, that can sometimes outweigh the need for traditional Big Four experience.
Adaptability and Growth: I value candidates who demonstrate a pattern of growth and learning, regardless of their path. If someone has moved up in their private accounting career and can show how they’ve expanded their skills, they might bring fresh perspectives that a more traditional candidate could lack.
Team Needs: Sometimes, the needs of the existing team can dictate the type of experience that would best complement their skills. If your team is already strong in one area, you might prioritize bringing in someone with different experiences to balance that out.
Critical Skills and Mindset: Beyond technical skills, I look for soft skills like communication, collaboration, and critical thinking. It sounds like you value this aspect as well given your own career trajectory, and it’s important to identify candidates who can work well within the team dynamic.
In terms of your current situation with your Director, it’s understandable to feel frustrated. You might consider discussing the importance of diverse experiences with her, highlighting how incorporating candidates with a variety of backgrounds can enrich the team and fill roles more efficiently. It might also be helpful to bring in data or examples of successful hires who did not fit the “traditional” mold but ultimately thrived.
Ultimately, fostering a balance between public and private experience can lead to a more well-rounded team and better outcomes for the company. Good luck navigating this challenging situation!