Transitioning from Public Accounting as a Senior—Seeking Guidance
Hi everyone,
I’m currently earning $70k in a low-cost living area as a Senior at a top 100 firm, and I’ve been informed that I’ll likely be promoted to Manager this year. However, I’m uncertain about the potential salary increase that comes with that role. I hold a degree and have four years of full-time experience, along with multiple busy season internships, but I don’t have a Master’s or a CPA.
Lately, the demands of my job have been overwhelming, and I feel burnt out. My priority is to focus more on my family and life outside of work. I often feel stretched too thin, and my mental health has suffered as a result. While my work quality remains high and I’ve been an integral part of my team, I sense that my lack of a CPA and living in a low-cost area negatively impacts my compensation and level of respect within the firm. I’m the primary earner for my family, yet I’m also a devoted family man who has no desire to pursue a partnership track. I’m looking for a chance to disconnect from work at the end of the day and be more present at home.
I’m currently considering my next steps. I’m leaning toward moving into industry for a local, low-stress position or a full-time remote role with a larger company. I haven’t ruled out pursuing my CPA, but I’m not in a place right now where I want to take on more studying. My job has already started to dominate my life, and I know that if I decide to leave public Accounting, it will be for good.
I’ve also thought about consulting and doing fractional controller work for small businesses, either as a side gig or as my main career. I believe I have a knack for client-facing roles and could thrive in that environment, though I’m concerned that some of the stressors from my current job might carry over into a consulting role.
I would greatly appreciate any advice or insights from those who have faced similar situations. I’m actively job hunting but am still deliberating on my interests and options. Thank you!
One response
It sounds like you’re at a pivotal point in your career, and it’s great that you’re taking the time to evaluate your options. Here are some thoughts that might help you in your decision-making process:
Prioritize Your Well-being: It’s crucial to recognize the impact of work stress on your mental health and family life. Taking a step back to prioritize what matters most is never a bad decision. A healthier work-life balance can lead to long-term satisfaction, both personally and professionally.
Consider Industry Roles: Shifting to an industry position can offer you the stability and work-life balance you’re looking for. Many companies value practical experience over a CPA, especially if you’re bringing four years of solid experience. Look for roles that emphasize work-life balance and culture that aligns with your values.
Remote Opportunities: A full-time remote position could offer the flexibility you need, allowing you to manage family responsibilities more effectively. Look for companies known for positive work culture and employee well-being.
Consulting and Fractional Roles: Venturing into consulting could allow you to leverage your skills in a way that is more tailored to your lifestyle and interests. It also opens opportunities for setting your own hours and choosing your clients, but keep in mind that starting a consulting career can also come with its own set of stresses, especially when it comes to building a client base.
Networking: Reach out to people in your network who have made similar transitions. Their insights can prove invaluable. Job boards and LinkedIn are great, but personal referrals often lead to opportunities and can increase your chances of landing a desirable position.
Set Clear Goals: Before diving in, define what you want in your next role. Consider aspects like desired salary, flexibility, company culture, and potential for growth. This clarity will guide your job search.
Explore the CPA Path: While you’re not interested in studying now, keep the CPA in mind for the future. It’s a valuable credential that can enhance your career prospects down the line, especially if you decide to go full-time in consulting.
Freelancing or Part-Time Work: If you’re uncertain about jumping into consulting full-time, consider dabbling in it part-time. This could provide a good sense of the market and allows you to pivot easier if it doesn’t pan out the way you hope.
Ultimately, trust your instincts regarding what will work best for your family and personal happiness. It’s a tough decision, but with the right approach, you can find a path that allows you to thrive both at work and at home. Good luck!