#publicaccounting
Most accounting students today have no idea where the entry-level jobs actually are. Let’s break down some data from accounting today and business insider and take a look at the industry. The big 4 firms have more than 350,000 employees in the United States and about 1.5 million employees worldwide. Those are enormous hiring machines. Beyond that, the next 12 firms, those large National firms with international offices, employee around 90,000 people. Then the next 50 or so firms employee about 60,000 people. Then the next 350 firms employee another 50,000 people. You add those up, and that’s a total of 550,000 to 600,000 people working in public accounting in the United States alone – and that’s just the top 500 firms or so. Depending on the latest estimates, at least 2/3 of those are working for big four. So why does this matter for you? These firms have to hire aggressively, train, develop, and cultivate people into this profession. The larger firms have to hire more aggressively, regional, and niche firms offer a different experience. So where should you start? There’s no one right path. Understanding your goals and aligning them to the market—that’s how you make a plan that works for you. #accountinglife #accounting #publicaccounting #careers #accountingstudent #accountingintern #big4
Professor Rob, CPA72,300 views • 1 year ago
Timing your exit from public accounting. Most accountants don’t realize how much the timing of their exit from public accounting affects their career. Let’s look at some data. This graph shows salaries changing over years of experience. The blue line is in industry data from Robert half, and the orange line is public accounting salary data from the PWC salary spreadsheet. Early on, public accounting offers a little more compensation to build the talent pipeline. But after about 4 to 6 years, you see the lines cross where management positions in industry become attainable. That’s one of the reasons a lot of people try to leave public accounting for industry roles, like accounting manager or controller, between that 4 to 6 year timeline. You may ask yourself, why would anyone stay in public accounting with this trajectory? Well, a lot of partners in large public accounting firms make more money than you can even fit on this chart. Maybe that’s what interests you. But in reality, there are many reasons someone may wish to stay in public accounting or go into industry, like work-life balance, stable hours, interesting work, or the people you work with. So when is the right time to leave? It all depends on your goals and your plans to reach them. #accountinglife #publicaccounting #accounting #accountant #careerdevelopment
Professor Rob, CPA52,200 views • 1 year ago
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