Is pursuing a career in Internal Audit a mistake?
I currently work for the government, but due to recent circumstances, I’ve been looking for a new position. Fortunately, I’ve received an offer for an internal auditor role that matches my current salary. My main goal is to secure a stable job that allows me to pay my bills. I’m not aiming for a CFO position or any senior management roles; I just want to eventually earn over $120k, especially since I live in a high cost of living area.
I’m seeking your advice on this matter. I’ve come across a lot of negative opinions about internal Audit, particularly regarding limited exit opportunities. I used to think my government job was secure, but now I realize that no job is completely safe. So, is becoming an internal auditor a bad choice? If anyone has had a similar experience, I would appreciate hearing your thoughts.
Thank you for reading, and I apologize for the lengthy post!
One response
It’s great that you’ve found an opportunity in internal Audit that matches your salary! Here are a few points to consider when evaluating whether it’s a good move for you:
Job Stability: While no job can guarantee security, many internal Audit roles are relatively stable, especially in the context of compliance and risk management. Companies often need auditors to ensure they follow regulations and manage risks effectively.
Work-Life Balance: Internal Audit can offer a better work-life balance compared to some finance roles, especially if you’re aiming for a stable job rather than climbing the corporate ladder.
Skills Development: This role can enhance your analytical, problem-solving, and communication skills. Even if you don’t want to become a CFO or senior manager, these skills are valuable in various positions and can help you pivot if needed.
Exit Opportunities: While it’s true that some feel there are fewer exit opportunities from internal audit compared to financial roles in industry or public Accounting, it may depend on the size and nature of the organization. If you build a strong network within the company and the industry, you can still find opportunities to move into other positions, especially in areas like risk management, compliance, or even consulting.
Long-Term Salary Potential: You mentioned wanting to earn $120k+ in a high-cost-of-living area. Internal audit roles, especially in larger organizations or those with significant compliance needs, can offer competitive salaries. You might want to research salary trends in your specific field and location to set realistic expectations.
In conclusion, if you see this role as a stepping stone toward your long-term goals, it could be a solid move. It might also provide you with the stability you’re currently seeking. Just make sure to stay proactive in your career development and networking, regardless of the specific role you choose. Good luck!