Navigating the Transition: A Look at Morale and Workload in PE-Backed CPA Firms

In recent years, an increasing number of CPA firms, particularly those within the top tier, have found themselves under the ownership of private equity firms. Initially, many professionals within these firms adopted a cautious approach, balancing optimism with skepticism. However, as time has progressed, an array of genuine sentiments—both positive and negative—has begun to surface.

Having personally experienced the transformative effects of a private equity acquisition at a large firm, I made the decision to transition away from that environment. Contrary to the saying that “the grass is always greener,” I can confidently assert that, in my case, it truly is.

While I am well-versed in the typical dynamics and strategies that private equity firms employ, I’m especially interested in the authentic experiences of individuals working in these post-deal settings:

• What is the current morale among staff?
• Have operational processes seen genuine improvements, or have they merely become more complex?
• Is there any relief in workload, or is it still as demanding as before?
• Are employees maintaining their resolve, or are they experiencing quicker burnout?
• Have there been any significant advancements in software and technology, or do promises remain unfulfilled?
• What are your personal intentions — are you choosing to stay, contemplating a departure, or have you already moved on?

For those who have experienced a transition to private equity ownership, or are on the cusp of such a change, I invite you to share your insights. What does the daily reality look like in your firm now? Is it an improvement, a regression, or a mixed bag?

I’m eager to hear the perspectives of others as we reflect on this evolving landscape within the Accounting profession. Your experiences may offer valuable insights into how we can better navigate these changes moving forward.