Just as there are many people who are thinking about getting out of public accounting, there are others who want to go back. Here's an email we received earlier this week: I was "2 and out" at a Big 4 and joined a Fortune 500 as an accountant. My logic was that I could live with […]
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Dear Going Concern,
I started my career in B4 Assurance, got the bump to SA relatively quickly (1.5 yrs), stuck it out for another year, then jumped ship for corporate goodness (Fortune 100 – double the money, half the hours). I’ve been doing that for 5 years now, and I feel like I’ve plateaued. I’ve been promoted 3 times in those 5 years, but I’m sufficiently elevated in the corporate ranks now that my next step is likely to be more a function of “serving my time” rather than continued innovation and stand-out work product; a war of attrition, if you will. I put in 40 hours in a rough week, don’t travel, and my comp is on par with (or slightly in excess of) a B4 Senior Manager in major markets (think NYC, Chicago, LA, SF, etc).
So, on to my dilemma: Am I crazy to be considering a jump back to B4? I miss the challenging work, and the energetic work-force, but I don’t necessarily miss working 80 hours a week. My primary driver is to be interested and engaged in what I do every day. Making partner and a seven figure income is a nice idea, but is just an afterthought in the context of this decision. I wouldn’t make this move expecting to become a partner (although if that’s how it played out, hooray for me). I’m looking for your candid feedback, criticism, blunt verbal beat downs, etc. I’m also looking for input from the GC rank and file – particularly those that have done what I’m considering: B4 -> cush corporate gig -> back to B4.
Let’s assume for the sake of this question that with my skill set, I could re-enter as the equivalent of an experienced Manager, or first year Senior Manager in one of the Advisory practices. Let’s also assume that I have partner friends at all of the Big4, that my experience and academic pedigree are top notch, and that I have a lot of corporate contacts that are ideal for selling new business. So essentially, the option is there – I just have to choose to do it.
Crazy is a relative term, and we’re all a little crazy around here at GC. I find your confidence in both your Big 4 and private industry contacts to be refreshing and brazen. Who cares that the economy is still a sputtering engine block inside a car chassis that’s resting on blocks, you have connections! Of course you’ll get a job back in public! OF COURSE your private industry drinking buds will want to sever whatever pre-existing consulting relationships they have with other vendors and go wherever you are!
My advice is simple – play both fields. Look into the Big 4s and their needs for someone with your background and experience in addition to pursuing opportunities that might be with your corporate contacts. You are not necessarily locking yourself into a career in public should you transition into a Big 4 advisory practice, whereas returning to assurance would be moral and career suicide. The advisory lines are generally more fluid opportunities and can act as stepping stones back into a corporate world after a few years.
For those breezing the submission above, Glutton’s career has been as follows:
• 2.5 years in public (assurance)
• 5 years in private
• Potentially back to public (advisory)
Has anyone in the peanut gallery done this? Share your horror stories or little victories below.