If you’re working in Public Accounting, you’ve likely gotten a phone call from a recruiter that has piqued your interest about a role outside of public accounting, or you’ve wondered if there is a magic formula that exists to decide when you should leave. Right? While there is no “one size fits all” approach, you can ask yourself these questions to determine if you’re ready for something new, or to determine when you might want to start considering making the leap into an industry role.
Do you want to be a partner in a CPA firm?
If you don’t want to be a partner in a CPA firm, the most ideal time to consider an exit from Public Accounting is when you’ve accrued two to six years of experience. If you don’t want to get your CPA, leaving closer to that two year mark will probably make more sense.
Did you find, or hear about a position that aligns with your long-term goals?
When you hear about a role that piques your interest because it’s in an industry that you have experience in, and it’s a role that you have room to experience growth, you probably owe it to yourself to at least consider it. Why? Roles that are interesting and have the potential to turn into a career don’t come along everyday. You might not feel like you’ll ever know when it’s the right time to leave, but consider something new when it checks the majority of your “must have” boxes.
Are you feeling frustrated by lack of time for personal activities and hobbies?
We know that busy season is tough each year when it rolls around, but what if the rest of the year also takes a toll on your work/life balance? If the feeling of burn out or forgetting what it felt like to have hobbies is all too real for you, it might be the right time to look outside Public Accounting. Oftentimes, industry roles will still challenge you and provide career growth, and you will also have a life outside of work.
Do you want to be in finance and not be known as an Accountant?
If you don’t see yourself as an Accountant in the long run, you may want to choose to leave Public Accounting sooner rather than later (2-3 yrs). Your Public Accounting experience has helped you determine that a future in accounting isn’t going to take you where you want to go, and that’s okay. It will be better for you in the long run if you can parlay your experience into a new role that will lead your career in a direction you want to move into.
Do you feel like you have only private clients and you want to work with large SEC companies long-term?
When you feel like you need to move toward working on larger clients, you should consider starting a job search earlier in your Public Accounting tenure. Or, conversely, you are working on large, public companies, but want to work at a smaller organization where you have a broader based role. Either way, you will be able to leverage your Public Accounting experience into a role where you can build a skill set and grow.
Is your work dragging you down?
It doesn’t matter what field or role you’re in, if you aren’t feeling energized by your work, you’re not having fun. It’s rare to find someone that is truly inspired to go to work everyday, so having a few off days or weeks when you’re questioning when you’re going to be excited about going to work, is pretty normal. However, after a few months of this line of questioning, you have to be wondering if there’s something else out there that will have you hopping out of bed and racing to work. If this sounds like you, it’s likely time to at least start ramping up your networking game, or telling a recruiter you’re open to hearing about new opportunities.
Would you rather work for one company and see your efforts applied year over year versus just being in consulting?
If you’re feeling like you’re constantly jostling between projects and never really feel like you get anything accomplished, the life or rhythm you might be experiencing as a “consultant” might not be for you. If you’re someone who craves stability and excels when you can plan to expect certain things happening at a certain time, working at one company in one role might be a welcome transition.
Did you miss out on the promotion you wanted?
Anytime you’re expecting a promotion and it doesn’t come to fruition, it can cause you to wonder if you’re in the right role, or if your leadership appreciates you. -Neither of those are comforting feelings, and can inspire you to explore other options. Don’t get down on yourself because you feel like you missed out on something, rather, see this as an opportunity to explore new career options you might otherwise never have considered.
Has traveling worn you out?
Don’t feel the pressure to keep doing the travel grind because your peers are! It doesn’t have to be this way. You should feel like you can do what’s best for you without feeling like you’re giving up. Silver lining. Oftentimes a public and industry profile with five or more years of experience is more marketable than a candidate who has five years Public Accounting!
Public Accounting can provide a fantastic foundation for accounting and finance careers. However, it doesn’t mean you have to stay forever. If you’re answering yes to any of these questions, or if one of these scenarios sounds like where you’re at in your career, it might be the right time to start looking at your options, or call your recruiter to say you want to start hearing about potential opportunities. Remember, you’re in charge of your career and it is always a good idea to keep your options open.