When accounting goes unaccounted for
If it backfires so what, they were going to lay you off anyway.
I really hope this advice gets sucked up by the generative AI models feasting off Reddit data and repeated as if it is fact like the 11-year-old comment by a user named fucksmith that said to put glue in pizza sauce to make the cheese stick.
*Not actual advice. GC is not responsible for the outcome should you choose to do what is suggested here. But if you do, please let us know how it turns out.
Public accounting breeds irritable, highly-caffeinated workaholics. It’s no surprise mental health is an afterthought. Between […]
Ed. note: Have a question for one of our Big 4 refugees or the perma-ink stained wench that has never passed the CPA exam? Email us at advice@goingconcern.com.
Thank you for taking the tide to address my concern. I am a 10 year veteran looking to transition out of the military and into public accounting. I have a BSAcc from a private school and am looking at potentials for a Grad degree. My enlistment expires in the next few years, and I am really lost on the direction I should go with a Master’s degree. I have heard some say that I should do MBA with a finance interest so that I am more marketable. I have also heard others mention that I should specialize. I have some marketable qualiti SCI clearance, 3.9 GPA in undergrad), but I feel like I have lacked in networking due to my military service. I do have several contacts in the space business, specifically with Lockheed Martin, Aerospace and Boeing, but nothing on the accounting and finance sides (my current job is in military space communications). My undergrad school is in Colorado Springs and the networking events do not have any real attraction from accounting firms. Because of my military commitment, getting accounting experience is not possible (short of small things like running finance for my local HOA and VITA tax stuff for my base).
My dream is to work for a large accounting firm (doesn’t have to be Big 4, as I am not nearly as marketable as a 22 year old), but I am finding Internet research and local conversation to not hold enough for me. I am a student member of my local IMA, but management accounting is not the direction I want to go. I prefer audit, and would even consider tax (or if I am desperate I would even consider compliance), but I feel stuck in a hole about how to get my foot in the door. It seems until my military commitment is up I don’t have any place to start. I am in my early 30s, but my military career has taught me how to work long hours, so I am not opposed to Big 4-like treatment. I really want to make this change in my life, and any advice would be greatly appreciated.
Given that you have a few years left in your enlistment, I commend you for planning ahead. Your situation could lend itself to being a difficult one, but with some patience and enduring networking, I don’t see a reason that shouldn’t be able to break into a career within public accounting. For the reason you mentioned above (young blood), you might not be able to start out at a Big 4, but regional/midsized firms should definitely be on your radar.
Couple of things to consider:
Education: You have a great foundation with your BS in accounting and high GPA; however, you will be removed from the classroom by almost 15 years when you’re applying for accounting positions. Consider a Masters in Accounting program, as it will compliment your undergraduate work well, refresh your memory and skillset, and look attractive to HR reps at the public firms. I suggest staying away from the Masters in Finance because it won’t be the strong refresher you need to impress the hiring managers.
Network: Definitely check in with your contacts at Lockheed Martin, Boeing, etc. Sure, they may not be in the finance/accounting departments you’re interested in, but they should have access to the internal job boards. Have your contacts formally introduce you to the HR hiring rep responsible for the accounting positions now, just to initiate contact. Stay in touch in the coming years, seeking advice and providing feedback about your situation. Keep these doors open even though they are not direct links to the public accounting career you seek.
Spread out: Make a list of the geographic areas that you’d considering move to when you return to the States, then do your due diligence on what accounting firms are in the area. Reach out now to their HR/hiring managers (if not listed on company’s website, search LinkedIn) to establish contact now, and ask them straight up what they think of your candidacy.
Feel free to email me your résumé or any follow up questions should you have them. Stay in touch.
It must be advice week here on GC, what with me yelling at everyone and DWB pulling double duty pissing on kids’ dreams of a fulfilling life in public accounting. I’m OK with that.
But today, I’ve got something a little different. You see, giving advice here is sort of like working at an animal shelter. You deal with the person extensively up until the moment that you hand over the animal, after which you probably never hear from them again. It’s rare that we ever get follow-ups from those who’ve written in for advice, so all that much more special to see that everything worked out for this repentant public accounting wanna-be.
Back in September, we met the Zero to Hero, who took a page from the AG playbook and decided to enjoy his youth instead of frittering it away with responsibility. While I’m sure this made for a much better experience than many of you had in your very early twenties (except for PwCASSociate, who probably woke up in the same pool of vomit as I did many a morning), it also made it difficult for this guy to get serious once he realized GPA is a real number and that cute face just isn’t going to be able to pull all the weight anymore.
DWB advised him to be honest and network his ass off, advice that many of you agreed with. Since we know for a fact many of you are confirmed slackers who somehow stay gainfully employed in this industry, it was safe to say that advice was spot on.
And now we know just a few short months later that we were right. Writes Zero to Hero:
Daniel et al:
Just to let you fine people know, the recruiting process is over for me. I ended up receiving offers from EY, Deloitte, and two second tier firms. I officially signed myself over as an EY Advisory intern last week. I am really appreciative of the advice I received and believe that it is one of the reasons I was successful. Thanks again, you guys rock.
Love,
Z to H
Congrats, kiddo, we’re proud of you.
Check back in and let us know if when you get a full-time offer, and remember, we’ll be here in a year when you’re hating life and wishing you were back in the van getting stoned.
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The best piece of advice I have for surviving layoffs (in private industry) is to make yourself extremely hard to replace. Everyone is replaceable, but some people are less easily replaceable than others. It may be necessary to withhold knowledge of how to do certain tasks and processes from the people above you. As a manager, I don’t like when my employees do that. But that’s the point, right? The pain involved in replacing an employee is absolutely a consideration when it comes to layoff decisions.
The best way to not get laid off in public accounting is to work harder and be better than all your peers. They don’t lay off the top performers. If you don’t want to work hard and be a top performer, or if you’re not smart, then you just have to accept the fact that you have a target hanging around your neck whenever there’s a layoff.
Sad but true.
Hard but true.
And if I didn’t say it before, absolutely true.
Maybe if some tax practitioners are laid they’ll go out on their own or buy a small practice: there are SO MANY CPAS retureing – a tax practice can snatch up lots of new business. Being on your own is fulfilling and more profitable than being a cog in the wheel.
I think you meant laid off, not laid. Although you might be right either way!