Fed CPA considering a job in the private sector...How much money is worth giving up the stability?

[Anonymous]

Anonymous wrote:how challenging would it be to potentially rejoin your current gov agency in the future? in my experience, big-4 jobs (and especially mid-tier firm jobs) for qualified candidates are a dime a dozen due due to turnover. so be careful leaving a gov job if it’s difficult to obtain, but it sounds like you have the itch to go private (and nothing wrong with that)!

OP here,

Not challenging at all, they seem to hire all the time since of the high turnover due to limited promotional opportunities outside of management. Competing for Non-supervisory 13s with the rest of the agency, and current 13s. The only thing that would preclude me from coming back is probably. The only reason I think I would not be able to go back is if the new government implements a hiring freeze.

[Anonymous]

You’ll be able to go back to Government very easily. At your age, go for it and see how it pans out. As others have said, you’ll probably double your salary in a few years. You’ll also probably get decent bonuses. However, be prepared to have to travel if you go to a Big 4 and longer hours.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How old are you? I made more than that when I left private sector in 2004. You are severely underpaid unless you are just out of school.

32 in a few months. I had a low paying fed job for 2.5 years while I was finishing school. Was done by 25. I’m not in management, sometimes serve as Team Lead. Like someone mentioned before, my salary is on par with the private sector for similar work.

If you want kids, I would stick with government. Much more family friendly. The additional salary is not worth spending less time with your kids.

This is situational and generally a really bad take. I’m private sector, work from a home office and travel. We have accounting and financing people that 2-3 wfh 2-3 days in office. My wife is fed and has to go into the office into downtown dc everyday - put the door at 7, home around 6:15ish. I spend much more time with the kids, even though I travel.

Op - federal jobs may seem like a rational prudent decision, but as a cpa you can make more money (which impacts retirement savings) and have nore control over your life in the private sector. If you get a job at a cpa firm you could probably double your current salary in 5is years. And your 32 , life is an adventure and too short to slog away in the federal rat race.

The hours are just too long in public accounting and almost everyone burns out of it. Not a long-term employment option for 95%+ of people. Been there done that and frankly it is not worth the stress. Unless you become a partner or senior manager you are not likely to make more than 200k. Apply for new fed jobs at the GS-14 level instead.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How old are you? I made more than that when I left private sector in 2004. You are severely underpaid unless you are just out of school.

32 in a few months. I had a low paying fed job for 2.5 years while I was finishing school. Was done by 25. I’m not in management, sometimes serve as Team Lead. Like someone mentioned before, my salary is on par with the private sector for similar work.

If you want kids, I would stick with government. Much more family friendly. The additional salary is not worth spending less time with your kids.

This is situational and generally a really bad take. I’m private sector, work from a home office and travel. We have accounting and financing people that 2-3 wfh 2-3 days in office. My wife is fed and has to go into the office into downtown dc everyday - put the door at 7, home around 6:15ish. I spend much more time with the kids, even though I travel.

Op - federal jobs may seem like a rational prudent decision, but as a cpa you can make more money (which impacts retirement savings) and have nore control over your life in the private sector. If you get a job at a cpa firm you could probably double your current salary in 5is years. And your 32 , life is an adventure and too short to slog away in the federal rat race.

The hours are just too long in public accounting and almost everyone burns out of it. Not a long-term employment option for 95%+ of people. Been there done that and frankly it is not worth the stress. Unless you become a partner or senior manager you are not likely to make more than 200k. Apply for new fed jobs at the GS-14 level instead.

There’s a big difference between government, private and big 4. Just go on indeed and apply for assistant controller jobs. Finance companies pay the best.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How old are you? I made more than that when I left private sector in 2004. You are severely underpaid unless you are just out of school.

32 in a few months. I had a low paying fed job for 2.5 years while I was finishing school. Was done by 25. I’m not in management, sometimes serve as Team Lead. Like someone mentioned before, my salary is on par with the private sector for similar work.

If you want kids, I would stick with government. Much more family friendly. The additional salary is not worth spending less time with your kids.

This is situational and generally a really bad take. I’m private sector, work from a home office and travel. We have accounting and financing people that 2-3 wfh 2-3 days in office. My wife is fed and has to go into the office into downtown dc everyday - put the door at 7, home around 6:15ish. I spend much more time with the kids, even though I travel.

Op - federal jobs may seem like a rational prudent decision, but as a cpa you can make more money (which impacts retirement savings) and have nore control over your life in the private sector. If you get a job at a cpa firm you could probably double your current salary in 5is years. And your 32 , life is an adventure and too short to slog away in the federal rat race.

The hours are just too long in public accounting and almost everyone burns out of it. Not a long-term employment option for 95%+ of people. Been there done that and frankly it is not worth the stress. Unless you become a partner or senior manager you are not likely to make more than 200k. Apply for new fed jobs at the GS-14 level instead.

I'm in the industry as well. The OP is not really a candidate for Big-4 audit. Those career paths start out of college, then get weeded down from there. However, the OP could be a great candidate as a federal contractor (working for a Big-4 or otherwise), reap the benefits of salary progression, draw upon their career expertise, work traditional hours, and not have to travel. That's what OP should be positioning for.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How old are you? I made more than that when I left private sector in 2004. You are severely underpaid unless you are just out of school.

32 in a few months. I had a low paying fed job for 2.5 years while I was finishing school. Was done by 25. I’m not in management, sometimes serve as Team Lead. Like someone mentioned before, my salary is on par with the private sector for similar work.

If you want kids, I would stick with government. Much more family friendly. The additional salary is not worth spending less time with your kids.

This is situational and generally a really bad take. I’m private sector, work from a home office and travel. We have accounting and financing people that 2-3 wfh 2-3 days in office. My wife is fed and has to go into the office into downtown dc everyday - put the door at 7, home around 6:15ish. I spend much more time with the kids, even though I travel.

Op - federal jobs may seem like a rational prudent decision, but as a cpa you can make more money (which impacts retirement savings) and have nore control over your life in the private sector. If you get a job at a cpa firm you could probably double your current salary in 5is years. And your 32 , life is an adventure and too short to slog away in the federal rat race.

The hours are just too long in public accounting and almost everyone burns out of it. Not a long-term employment option for 95%+ of people. Been there done that and frankly it is not worth the stress. Unless you become a partner or senior manager you are not likely to make more than 200k. Apply for new fed jobs at the GS-14 level instead.

I'm in the industry as well. The OP is not really a candidate for Big-4 audit. Those career paths start out of college, then get weeded down from there. However, the OP could be a great candidate as a federal contractor (working for a Big-4 or otherwise), reap the benefits of salary progression, draw upon their career expertise, work traditional hours, and not have to travel. That's what OP should be positioning for.

How much of a pay boost would he see with that kind of transition, and how much risk does he take on of being laid off?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How old are you? I made more than that when I left private sector in 2004. You are severely underpaid unless you are just out of school.

32 in a few months. I had a low paying fed job for 2.5 years while I was finishing school. Was done by 25. I’m not in management, sometimes serve as Team Lead. Like someone mentioned before, my salary is on par with the private sector for similar work.

If you want kids, I would stick with government. Much more family friendly. The additional salary is not worth spending less time with your kids.

This is situational and generally a really bad take. I’m private sector, work from a home office and travel. We have accounting and financing people that 2-3 wfh 2-3 days in office. My wife is fed and has to go into the office into downtown dc everyday - put the door at 7, home around 6:15ish. I spend much more time with the kids, even though I travel.

Op - federal jobs may seem like a rational prudent decision, but as a cpa you can make more money (which impacts retirement savings) and have nore control over your life in the private sector. If you get a job at a cpa firm you could probably double your current salary in 5is years. And your 32 , life is an adventure and too short to slog away in the federal rat race.

The hours are just too long in public accounting and almost everyone burns out of it. Not a long-term employment option for 95%+ of people. Been there done that and frankly it is not worth the stress. Unless you become a partner or senior manager you are not likely to make more than 200k. Apply for new fed jobs at the GS-14 level instead.

I'm in the industry as well. The OP is not really a candidate for Big-4 audit. Those career paths start out of college, then get weeded down from there. However, the OP could be a great candidate as a federal contractor (working for a Big-4 or otherwise), reap the benefits of salary progression, draw upon their career expertise, work traditional hours, and not have to travel. That's what OP should be positioning for.

How much of a pay boost would he see with that kind of transition, and how much risk does he take on of being laid off?

His CPA is a valuable credential. Numbers are declining in industry. He'd get a boost now with raises/bonuses each year. Over time, he'd even have a potential path toward a director-type role if he was able to navigate the politics with the right business case. That's the play to explore.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Not knowing the specifics of your role your comp is competitive with the private sector for a CPA in a non-management role.

OP here,

Yes, I think it is as well from my research and confirmation with a college classmate who is in management at Big4.

I think the biggest question for you is if you want to be accountant or a people leader. My wife is a CPA and moved fairy quickly up the ladder to director of a Fortune 500 simply because there are huge swaths of accountants that would rather play with numbers than deal with people. If you want to make more money in the private sector your going to have to manage people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not knowing the specifics of your role your comp is competitive with the private sector for a CPA in a non-management role.

OP here,

Yes, I think it is as well from my research and confirmation with a college classmate who is in management at Big4.

I think the biggest question for you is if you want to be accountant or a people leader. My wife is a CPA and moved fairy quickly up the ladder to director of a Fortune 500 simply because there are huge swaths of accountants that would rather play with numbers than deal with people. If you want to make more money in the private sector your going to have to manage people.

OP here, I am not your typical accountant. I love being around people, and hate being stuck at home all week. I look forward to going into the office to get my fix. I’ve never managed people, but I am a people person.

[Anonymous]

Op here again,

Already have 1 interview scheduled, and working on the other for private.

I applied for an internal promotion before the two firms, and it hasn’t even gone to the referral process yet.

[Anonymous]

Anonymous wrote:Op here again,

Already have 1 interview scheduled, and working on the other for private.

I applied for an internal promotion before the two firms, and it hasn’t even gone to the referral process yet.

Out of curiosity, what kind of companies/positions are you looking at? Very nice getting to the interview stage already at one of them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op here again,

Already have 1 interview scheduled, and working on the other for private.

I applied for an internal promotion before the two firms, and it hasn’t even gone to the referral process yet.

Out of curiosity, what kind of companies/positions are you looking at? Very nice getting to the interview stage already at one of them.

CPA Firms in the top 20, and looking for supervisory positions, not lateral.

[Anonymous]

OP here,

Had one interview for a private firm, and was just referred to the hiring manager for an internal promotion.

I think if I get the internal promotion, I’ll stay. However, the timing is unfortunate. How long can you tell a job to wait before you accept the offer.

[Anonymous]

If the GOP wins, there be be no more stability, so I would factor that in. My dh is telling recruiters he might be interested post election.

[Anonymous]

Private sector CPAs working in public accounting ultimately are expected to generate more than enough revenue to cover their salaries and benefits. I do not merely mean working that many hours, I specifically mean bringing in new business to the firm. Ageism is less of an issue so long as one keeps bringing in new business.

Private accounting does not have that bus dev burden, and usually has more stability, but one has to get along with the CFO, the C suite generally, and ageism will be an issue once one hits maybe 50 years old.