How is the lifestyle at small to mid-size CPA firms?
Friday, February 26th, 2010 at
10:50 am
I am starting a master’s program and will eventually get my CPA license. I always imagined I’d go for Big 4, but I recently learned that these firms pretty much take over your life. If I work at a smaller firm, will I have a relatively normal lifestyle and hours? Can anyone lay out the pros and cons of each (large vs. smaller firms)? Thank you!
Oh, and how is working in-house with other businesses?
Tagged with: cpa license • lifestyle • pros and cons
Filed under: CPA
Like this post? Subscribe to my RSS feed and get loads more!
Apply to all places (local, regional, and national – Big 4). Keep your options open. Most times, it may be harder to land a job in a smaller town than Big 4. Big 4 has the highest turnover, so they are always recruiting- even in this economy.
Pros of Big 4: Resumes move up with Big 4 name. Intense hours allow intense experience in a certain account area. One might say a year is equivalent to 4-8 years at a mid-sized firm. Exposure to major clients spans your network horizon. Clients often scout employees out and offer salary increase, sign on bonus, and flex hours. Fast paced. Groups for audit switch several times a year- never stuck with same co-workers.
Pros of Mid-size: Less work than Big 4. Less stress than Big 4. More leisure time to study for CPA license. Higher potential making partner. Gain overall knowledge of how the firm operates. Gain overall knowledge how different accounts are handled. Family atmosphere.
Big 4 Cons: Limited leisure time to study for CPA exam. Difficult to maintain relationships outside work. Long hours of work. Limited scope on accounts.
Mid-size Cons: Network span is limited. Most client firms may not scout. Fewer chances of becoming CFO. Partner salary is a fraction of Big 4 partner salary.
*Overall, weigh what is important in your life at this time. Consider your family, studies, and other time demanding areas. If a few years to sacrifice time for your career is feasible, go for it.
The big 4 will own you.. My best friend worked for Deloitte and she easily worked 80+ hours a week, sometimes are work till 1am and back again at 7am. The benefit of working for the big 4 is it looks awesome on your resume. However, they laid off alot of people so jobs might not be easy to come by.
I worked for a regional firm and it was alot better but still alot of over-time. I worked on average during busy season around 55-65 hours. Some people worked more and some worked less. I would say the benefit to working in a smaller firm is you learn more things, get to do more areas. For example, auditing cash for a big 4 firm client could take months. But auditing cash for a client of a regional firm could take days. Just smaller scale. I enjoyed working for a regional firm. I have heard the Clifton Gunderson is one of the best firms to work for as they really focus on having a work-life balance.
Good luck on the exam — it’s a KILLER… Use Becker CPA.
I worked for a Big 4 firm and yes while you are there it is your life. You work long hours which is hard, but the firm also sponsors a lot of social events and I really liked most of the people I worked with. Small, mid size and regional firms are less intense. No matter where you work, you will be putting in 50 – 70 hour work weeks during busy season – that is just part of being an accountant.
I think smaller firms are better for those people who want to make a career of public accounting, the Big 4 is better for those who want to work in industry as a Controller, VP Finance, CFO etc.. Many of the higher up industry positions will only consider candidates with Big 4 experience.
I worked for 4 years for a Big 4 firm and during that time I had very little life outside of work. After that I went into industry working as a controller and then CFO. In some ways that was even more intense, but I still found time to get married, buy a house and travel. After 6 years in industry, I started a business which has a great work/life balance although I must admit I still occasionally miss the intensity (but not the long hours) of my earlier career.
If I were in your shoes, I would start with the Big 4. If after 2 years, you are not happy you should have no problem finding a great position in industry or with a regional or local firm.