How many years of experience in public Accounting are typically required to remain eligible for controller or CFO positions in the future?
As an intern at a mid-tier firm, I’m already strategizing my career path. I realize that sticking in public Accounting indefinitely isn’t for me, so I want to plan my exit before I’ve fully launched my career. While I’m not interested in the Big 4 and feel more at home in smaller firms, I’m curious about the minimum public experience needed for controller and CFO roles in smaller to midsized companies.
From what I gather, I can probably handle 2-3 years in public, but I know that may not be enough to jump straight into a controller role right after. My concern is whether wanting to leave public so soon might limit my options later. If that’s the case, I’m okay with the idea of being a senior accountant in the industry long-term.
In summary, I’m an intern curious about the minimum amount of public Accounting experience necessary to keep the door open for future controller and CFO opportunities in smaller and midsized companies. Any insights would be greatly appreciated!
One response
It’s great that you’re thinking ahead about your career trajectory! In smaller to mid-sized companies, the path to getting into controller or CFO positions often values a blend of public Accounting experience and hands-on industry experience. Generally speaking, here’s some guidance based on what many have experienced:
Public Accounting Experience: While there’s no hard and fast rule, having at least 2-3 years of public Accounting experience can be beneficial. This is often enough to gain a solid understanding of accounting principles, financial reporting, and compliance, which are crucial for higher positions in industry.
Industry Knowledge: Beyond public experience, many employers in smaller firms look for candidates who have industry-specific knowledge. After your stint in public accounting, consider roles in accounting departments of companies in sectors that interest you. The integration of that experience with your public accounting background can make you a strong candidate for controller or CFO roles down the line.
Skill Development: Focus on developing key skills, including financial analysis, budgeting, and leadership, during your time in public accounting and in any future industry roles. These competencies are highly sought after in managerial positions.
Networking: Start building your professional network early. Connections can often lead to opportunities in companies that prefer candidates with a public accounting background, even if it’s for a limited time.
Continuous Learning: Keep an eye on qualifications and certifications like CPA or CMA; these can significantly bolster your profile in your pursuit of controller/CFO roles.
If you decide to leave public accounting after 2-3 years, it’s not the end of the world as long as you’re strategic about the next steps you take. Just be ready to build your industry experience and continue learning to position yourself well for future opportunities. Remember, many people in finance have successfully transitioned from public to private accounting with varied experiences. Good luck!