When is the best time to leave public accounting? | The Resource Link (2024)

FAQs

When is the best time to leave public accounting? | The Resource Link? ›

Some will tell you 2 years, or wait till you make Senior, or wait till you make manager, and so on and so on. I advise you to “leave when it's time for you to leave.” This is when you should leave public accounting. If you're tired of the hours, or if you're not enjoying public accounting anymore, then leave.

If you're not interested in pursuing that status, the ideal window to transition out of public accounting is after 2-6 years. OR, if you plan to pursue something other than your CPA certification, leaving for an industry role closer to the 2-year mark may make more sense for your career.

Simply put, some public accountants may feel their workload, stress levels, and office politics are not conducive to a healthy work environment or even their mental health.

Many people aim to leave the Big 4 after reaching a certain level on their career path which clusters around 3-5 years. It can be a great milestone to get to the point where you have direct reports since manager (people leader) positions can be a less structure/natural progression outside of the Big 4.

The hours, deadlines, managers, time keeping etc. I was used to my job being absolutely horrible. Once I left I learned jobs can not suck every day. The absolute worst days in private (there have been very few) are just average busy season days in public.

Growth opportunities

Public accounting offers many opportunities for growth, allowing you to explore different areas across the accounting field as you build your career. The longer you stay within the space, the more leverage you'll gain when it comes to compensation and future career opportunities.

When resigning from an accountant position, you may need to inform your employer of your decision in writing through a resignation letter . A professionally written resignation letter helps present a clear and consistent message regarding your departure from your current position.

Accountants are underpaid. Accountants lack the confidence to charge amounts that will make them profitable while responding to every email and phone call within a reasonable time frame. To be more responsive, an accountant needs either fewer, but higher paying clients or staff. Either way, clients need to pay more.

Causes of the Great Resignation

The Great Resignation has several underlying causes among accounting firms, including: Additional attrition from supervisors leaving to pursue more lucrative positions and remaining staff being overworked and underpaid.

Public accounting is often described as fast-paced and demanding, which some accountants may find difficult. Inconsistent work schedule: Public accountants should expect long hours, last-minute pivots, and client travel to be the norm.

How long should you stay at a Big 4 accounting firm? ›

Whether you joined a Big 4 as a springboard for your career or were set on making partner, we generally advise professionals to make a move around three to six years of experience, in order not to leave either too early or too far into their Big 4 career.

The Big 4 companies are renowned worldwide for their reputation and prestige. Each consistently rank among the best companies to work for in the world.

Auditors are usually appointed for three years. The same auditor will often be reappointed for another three years subject to satisfactory performance. The auditors for most non-school public organisations must be replaced after six years to ensure the auditors' independence.

Craving more meaningful projects, creative problem solving and engaging work experience, many accountants leave the field to explore other career options where they can have a deeper sense of purpose and impact.

While there are several reasons both young and seasoned CPAs leave the public accounting profession, spanning from a lack of work-life balance to a plethora of attractive opportunities in the private sector, it is indisputable that devoting a few years of your career to public accounting can help position you for ...

I also know individuals who have left after 4 to 5 years in public accounting, and their career has plateaued. It's time for you to leave if you're no longer enjoying public accounting or if you're no longer learning. That is the time to leave.

For early career professionals (2-5 years' experience), a fraction over five people leave voluntarily for each one let go. Among more seasoned professionals (6-10 years' experience), that number climbs to nearly six professionals voluntarily leaving for each one terminated.

Being a CPA is a great job but can also be a stressful one sometimes. Young CPAs, in particular, juggle multiple tasks at different stages of completion, often for multiple bosses. Busy season's tight deadlines and revolving-door work flow heighten the pressure.

Rule 2-06 requires that accounting firms retain certain records for seven years. Retained information would be kept confidential unless or until made public during an enforcement, disciplinary or other legal or administrative proceeding.

That's a big reason why people leave public accounting is because of the hours you have to put in for minimal pay, especially during busy season months. There are not many employees willing to stay in the industry long term for a lot of hours and not seeing much reward in the beginning of their career.