Two CPAs in a challenging location? Seeking perspectives from elsewhere.
Hi everyone! My wife and I are both accountants, and we’re looking for insights into the industry in other parts of the U.S. We’ve been feeling quite uncertain about our career prospects in our current city, which seems to offer limited opportunities for accountants. Despite hoping for better prospects through new avenues, I’ve started to believe that our city may not be the best place for our profession. I’m reaching out to see if anyone else has experienced similar situations or if relocating might be more promising.
Here’s a bit about us:
About Me:
- I recently passed my CPA exam and hold a Master’s degree.
- I interned at a medium-sized local firm and received an offer for $55k a year. After talking to seniors and managers, I learned that senior salaries were approximately $62k and managers earned mid-$70k. After some reflection with my wife, we decided it would be best for me to take time off post-master’s to focus on passing the CPA exam, especially since many employees at the firm worked 60-70 hours a week, a situation we didn’t find appealing given the pay and effort.
During my time at the firm, I observed that many local businesses were severely understaffed and faced excessive workloads (70+ hours a week), often with a blending of managerial and Accounting tasks.
About My Wife:
- She’s been a CPA for five years and has worked in the industry for a decade.
- Her first job was in reinsurance Accounting, where she climbed the ranks to a six-figure salary. However, it involved 80+ hours of work a week, significant stress, and required travel to India for team training. Ultimately, she burned out and chose to pursue her CPA.
- Her second job was in local industry, where she was promised minimal overtime at a $72k salary. She quickly realized that management was disorganized, leading to a dismal work environment. She left soon after.
- Her third position was at a local bank with a $65k salary, but after the first month, expectations shifted to 70+ work hours weekly. The demands were overwhelming, prompting her to seek new opportunities after two years.
- Currently, she’s at a government job earning $62k. Although the pay cut was initially welcomed to escape the grind of unpaid overtime, the workload soon exceeded 60 hours a week, with minimal management support.
We’ve held onto hope for our city, which has a population of about 300,000 in the Midwest. While it’s neither too large nor too small, we’ve noticed the same 50-60 accountant job postings on Indeed for the past five years.
Is this what Accounting has become, or do we need to consider venturing elsewhere? There’s nothing holding us here, but if the environment is similar across the board, what’s the point in relocating? I’d love to hear from anyone who’s been in a comparable situation. Just getting this off my chest feels like a relief. Thank you for listening, and I apologize for the lengthy post!
One response
It sounds like you and your wife have been through a really challenging time in your Accounting careers, and it’s completely understandable to feel frustrated when faced with such limited prospects in your current city. I want to reassure you that your experiences aren’t universal, though they do reflect a worrying trend in many areas of the Accounting industry.
From what you’ve described, both of you have dealt with some significant burnout and unrealistic expectations in the jobs you’ve held. It’s important to recognize that this is a common issue in many sectors, but especially in industries that are often understaffed like Accounting. The reliance on overtime and long hours can lead to a toxic work culture, making it hard to find fulfillment or balance.
To answer your question about whether relocating might help – yes, it can often make a significant difference! Larger cities or states with burgeoning industries might offer more opportunities, better pay, and a healthier work-life balance. In places like bigger metropolitan areas, the demand for accountants can be higher, leading to more varied job offers and potentially companies that value work-life balance more.
Additionally, as someone who has just passed the CPA exam, you’re in a strong position to seek out roles that align with your values and needs, especially when it comes to workload and company culture. There are firms and companies out there that prioritize employee well-being more than the ones you’ve experienced, and the right fit exists for you both.
Networking can also be incredibly beneficial. Reaching out to other CPAs or joining accounting groups on platforms like LinkedIn may help you discover opportunities or insights that you wouldn’t find otherwise. You might also consider looking into companies that have a strong reputation for work culture and employee satisfaction, as that can make a world of difference.
Lastly, remember that your skills and experiences are valuable. Don’t hesitate to explore different sectors of accounting or even consider remote positions that could tap into markets outside your local area. While the idea of relocating may seem daunting, it could be the push you both need to find the fulfilling careers you deserve.
Good luck, and take care of yourselves! It sounds like you both have a lot to offer, and I hope you find the right path forward.