Public vs. Private Accounting Career Progression!
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- เผยแพร่เมื่อ 9 ต.ค. 2020
- Working in public accounting can impact your career progression greatly. In this video I walk you through an example career journey to show you the difference between public and private accounting career path to a position such as controller.
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On behalf of all accounting majors, I would like to thank you for this amazing information
I believe the updated version for Industry now is.
Jr Accountant (50-65k) (3years) > sr accountant(70-85k) 2-3 year> acct mgr or supervisor (80k-120k)> director (120-160k not including stock or bonus) > controller/assistant (150k-200k not including bonus) houston
This is for my company at least.
Yeah this seems up to speed, but the years are very interesting to me. I was a Budget Intern (gov) for 2 years while going to college (38K), Budget Analyst (gov) for a few months (42K), Corporate Accountant (healthcare) for 10 months (65K) and now a Senior Accountant (healthcare) making 85K. - Nashville, TN
I will say I had no life outside my job as a corporate accountant and was given more responsibilities as seniors and the director of accounting left, so I had to learn quick and keep everything running on the corporate team when I was like the last man standing corporate wise.
@@sandrakay287 Your company most likely had a fast route or good opening opportunity. Industry unlike public, you’ll often have to wait for an opening before you can get promoted.
Is this with or without cpa?
@@nicstoohigh without. Currently, usually anyone above manager is presume to have a CPA. You don’t need one though.
You’ve helped clear up so many questions for me. Junior Finance major here considering being a controller (long term)
Very Accurate, I have worked both public and private and these numbers are pretty standard
Great, thanks for confirming this :)
Thank you for sharing your knowledge!!!
Keep up the great work and keep it up. Thank You!
Thanks for watching!
This is the most accurate salary video I’ve seen on TH-cam.
Very informative! I always wondered why ppl go for Big 4 Audit despite the long hours and low pay
Your videos are great. I’m glad I found you.
I think I found YOU :)
Can you do a video on the steps to go into private practice what a good pathway could be for a CPA versus someone who has an accounting degree but does not go for the CPA designation?
This is one of the most helpful accounting career path videos on TH-cam. Thank you so much for hopefully a beneficial viewpoint. Btw, you’re really handsome.
Thanks Vincent! I try....
Sometimes the Acct. Manager will be promoted directly to CFO, as not all companies have Controller position.
Thanks for explaining it. I should know it when I graduate from the school. ; )
I’m currently pursuing my masters in accounting. I don’t plan on taking the CPA exam, and just sticking to private accounting.
This channel is a gem! Do you have any videos on the day to day activities of an assistant controller/controller/Sr Accountant?
I have a day (month) in the life of an accountant video, but will do more on controller soon
@@TheFinancialController awesome! Look forward to it
Thank you. Very clear.
Thanks for watching
An amazing video!
Good breakdown of accountants cpa roles I wish you had a finance version of yourself lol since I’m into that more. And are you a controller ?
Thank you!
very nice video, real life information !
Thanks
I won a green card and have arrived in USA recently. I was struggling to choose a path but now it is clear. Thank you for your videos.
I've been on both sides and those numbers are legit.
Thanks for confirming!
hi i know your career is in accounting but can you do a finance Career Progression? Thank you very much i learnt a lot from your videos :)
Great video! I have been an accountant for 6 years and am about to finish my CPA journey. I am in my mid 30's, so I am already behind on the path to success! Would you recommend going for public accounting even for someone like me at my age? Or is going for a senior accountant/accounting manager role in the private industry a better path at this point?
You need to work for a Private company as CPA or Controller or Manager that has set retirement. Get your own 5-10 clients personally since you are a CPA , you would be wasting your own time in public underneath someone
What is different between internal or external accounting? Which one should I choose for bachelor's degree?
the starting big 4 staff of summer 2024 in my hcol area (NYC-Westchester county-Fairfield county) is 85k
Great content man, I have questions how about when someone joins public accountant firm after they became senior or even manager? in my opinion, private sector accountant is not that underrated, if you start in a fast-growth startup or a public multinational company i.e one in the Fortune 500 you still have the same headstart as typically new trainee are handling almost the same problem as an auditor. Lastly in my country (APAC region) the trends for hiring C-level executives like controller or CFO usually prioritizes the internal staff first unless you have like 10+ years experience in public accounting firm plus you need to be in the same industries with them.
There are very few people who go into public after being at manager level. In general I feel strongly that public experience can help, at any level....
Hi, thank you for your beneficial videos. Thoroughly enjoying most of them. I qould like to ask, I am in the midst of deciding whether to take CIMA or CPA. Which would you suggest, if I were to go into the pathway of becoming a financial analyst/controller? Im still very much confused 😅 thank you in advance!
Hi. If your end goal is controller then CPA is best. But if you want to be a director of financial planning of sort, then CFA, CIMA are relevant
The Financial Controller thank you!
I want to go into the CFO or strategic finance path. Which is more relevant? CPA or CFA? As far as I know CFA is predominantly into investment management and does not delve into topics like budgeting which is required if one aims for a CFO/Director of finance kind of role. I'm confused.
Hi Mr Hanna,
I did a one year Accounting course. I worked in the Accounting field for past 15 years. I am looking to find an assistant controller position but before that I want to get some refreshment course done. I have watched all of your videos, they are very informative and helpful, but the cases are very simple.
I would like to have exposer to critical cases.
Please advise.
Thanks
Congrats for your channel !
I’m 40 thinking of doing a master of accounting and finishing the master by 42. Do you think it’s a bit too late to become an accountant ? I would appreciate your honest advice.
you can do it! cpas are in high demand
Hey Bill, I have one question for you is something you didn't mention in your video but I like to know. If you want to become a CFO or an accounting partner, which sector should you go for private or public accounting??
Hi, partner 9/10 time is only public, CFO tend to be only for Industry. I believe he will stick to Private as better work life balance and pay at mid- director level.
Hi,
As an accountant, the push is always to get your CPA license. Do you believe that obtaining a CPA license while you are employed at Private Company is beneficial? Or should I take the CMA exam instead?
CPA is still super relevant for private companies because management of these companies always tries to implement SOX 404 controls even thou they are no public because these controls are best practices. It’s widely known that CPA makes you an expert at it. CMA is more relevant for financial analysis type roles
At which part of the diagram you drew do you need a CPA? For accountants do you need a CPA?
It depends on how early you can get your cpa requirements done, but generally, the sooner the better. And you don’t necessarily need a cpa, unless you aspire to a higher role (controller or cfo).
great content as always, just wondering how hard is it to move from private accounting to back to public. Also when is it best to move out of public into private like once you are a senior or wait till your senior manager?
Going from private to public is doable, and have seen it many times. Would help to have cpa first. As for timing of exit of public, please see my video on that topic, I posted a few months ago.
The Financial Controller thanks for the reply
I wouldn’t switch back to public unless you are cool with finishing your career working on tax or audit engagements , but then you can just get your own clients at that point
Great video! Looking for a bit of advice on where to go next in my job search…started in AP out of university, worked 2 years in government, and now 2.5 years as a controller at a dealership.
There’s nothing else above me, and I think I’m capping out just over 100k.
Should I be looking at financial analysts jobs or try to get into public accounting ?
And I’m nearly done my Canadian CPA.
Thanks!
Hey , I’ve done the Firm (Public) , Private Company (“in house” accounting) , and for a Small Company with smaller client volume . I’m doing government accounting to get a retirement because everything else you can do as a CPA yourself honestly
I’ve met more people NOT CPAs than are so you’ll just marketing yourself to gain clients would be the only “hard” part
Hello, thank you for the video. I'm currently senior accountant, with around 4 years of experience in private industry only. If I want to have public accounting experience, I probably should go back to staff level. In this case, would you recommend me to go back to public accounting or stay in private industry?
Hmm. Depends how hard you want to work. Going back to public for 2-3 years is going to super charge your career. But it will be hard work and a demotion. I’d rather you stay in private but try to get your CPA
@@TheFinancialController Sorry, I forgot to mention that I passed all cpa exam and currently under license application.. will get my license soon. In this case, what would be your recommendation for next step? maybe going for CMA or master or go to public with demotion?
Thank you!
Thanks. Is it worth opening your own practice?
I will actually make a vid on this topic since it’s very rich in substance. But I am undecided whether it’s worth it!!!
Can I take several minutes of your valuable time ? I need your life saving advice. I was more than 20 years in this field, before I arrived in US. I am still in Accounting, but I don't have someone more experienced then me to ask questions or to take advice. Please help me to find my way, which direction to go... Thank you very much !!!
How come people don't really wanna tell me how much accounting training/articles pays per month? I have so many people but to no avail. I'm currently doing my accounting degree while working. I'm in South Africa. I just need this info so I can mentally and financially prepare myself in advance
Can i work in public accounting without a CPA or ACCA?
Is the pay bigger in the USA compared to Canada
Hey everyone! Does anyone know if you can land a job as an auditor with a bachlors in business?
Will it be different to other countries?
Do most private companies actually have positions separated out in this hierarchical structure? I prefer it, that's why I'm asking.
Yes
I have question . Can I change from private accounting to public accounting to join big four firms to get experience in public accounting
Yes
Hello, I have question. Is it true that I must have a CPA license in order to start an entry level at a public accounting firm? I have been told that I will not be able yo start any jobs in a public firm without CPA license
You can start without it. But willl need it to progress into senior associate
It's interesting how these licenses seem to be more valuable than college in the US. In Europe these licenses are somewhat uncommon to have.
How much is this progression going to suffer when you do remote accounting?
It shouldn’t if you treat it like a career
Would this be good for a 2 year A.A.S Accounting Degree or do you need 4 year degree
I will say all of the Accounting jobs I’ve held required a Bachelors in Accounting, Finance or Business. And this is on the low end (Staff Accountant and Senior Accountant).
For higher up, they are looking for CPA, MBA, or Macc. An upper level certificate or Masters degree. Plus experience. Accounting is very education based as the foundation and then it’s built on.
I actually went to community college for a 2 year degree and couldn’t find an accounting job, so I continued my education. Once I had my bachelors in accounting, companies and recruiters became interested. It was my bachelors degree in Accounting that got my foot in the door.
Can a US CPA become partner at big 4?
Of course
Hi, can I ask for your advice? I've been hired in private accounting but I want to eventually move on to public to gain that experience. I wanted to do private first to really understand how a company records and prepares financial statements for regulatory bodies, which I believe will translate well into public accounting. My question is how long should I stay in private accounting? Is 1 or 2 years enough experience, and is it difficult to transition from private to public?
Hi Milesss, my career took this path. The challenge I had was after being in private accounting I had a hard time getting the big 4 interested in me. I had to go to a regional firm. After a few years I could have moved to big 4 firm. I probably would not stay any longer the 2 to 4 years before moving.
😅 Lumbergh!
Is this guy Egyptian? I think I can hear his accent
Indeed. Good ear for accents!
@@TheFinancialController I like it when Egyptians achieve, I am doing the CA in Australia so this comes in handily!
That’s amazing, am sure you will Crush it Benjamin.
Thank you!
Thanks for watching