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I don’t regret it one bit. I hated public but was very good at appearing extremely competent (e.g., communicative, organized, etc). You always have to be “on” since you are client facing and having external expectations drive the mood of work. It was very hard for me to learn because you have to always appear or pretend like an expert when you truly have no idea how a lot of basic stuff works. It’s probably a good arena or environment for people that need leadership or people skills. I did accounting because I’m good with soft skills and wanted deep technical skills to complement it. That’s the main reason I left.
In the one year I’ve been in private I’ve learned so so so so much because I’m not inundated with useless stuff like managing a pretend budget, entering time, spending time commuting, and communicating “up”. I’ve gotten a chance to learn how to actually use real software that runs companies (Netsuite, SFDC). I’ve had a chance to understand what revenue truly is, what a strategic pricing discussion looks like, deep analysis on methodologies, attended CPE that I’m interested in, etc. More importantly, I can plan work around my life for the most part and not the other way around. If I need to take a few days off I don’t need to plan months ahead or move heaven and earth to reshuffle client demands etc. I’ve never had to work more than 40 hours unless I truly wanted to and spent extra time with learning something for my own benefit.
I do get that in private the difference is that you need to actively look out for your own career. Similar to my current situation I know that some people easily get stuck or niche spotted into a staff/senior role. I’m not overtly concerned - I’ll talk to the department head soon and I’m sure I’ll get bumped up with a pay increase sooner than later if I let them know it’s a concern. And if not, I now have the most important thing that i didn’t have in public - confidence. I feel like I can actually add value to a company and can easily move on to a different company and get the senior title and pay raise that way if absolutely necessary. My biggest fear is(was) always walking into a room and only knowing how to high level talk about something with no understanding of the operational or nitty gritty behind it. I find the alternative route of doing the nitty gritty much better for my learning style since seeing the bigger picture has always been an easy extension of it once I am familiar with the parts.
EY3, money is not everything. You probably did not had life for past 7 or more years while she had a very relaxed work life thing over there.
I’m confused...Your first post ended with “Year 4 as Staff. I’m screwed”, but then you followed up with a very eloquent breakdown of all the reasons why you are so much happier and it’s not that big of a deal at all really. Do you just need some attention?
That’s normal when you move to private. I had managers that left when I was a senior and they got a senior role in a company and now I am a senior manager and they are still senior.
This is one of the biggest themes repeated constantly into staff brains : the longer you stay in PA the quicker you will advance up the chain. Why does nobody believe us when we say it???
I’m a manager now, my fellow colleague left at staff 2. Salary diff was $70k vs $90k, so it looked great at the time. She’s still a staff making maybe $110k (my estimate, if I’m being generous) and I just passed $140 this year.
I heard somewhere that promotions in industry are not as predictable as PA. Probably just a rumor
How’s the rest of your life doing OP? You have a lot more time now, huh?
Personally, I don’t think it’s worth leaving as a Senior 1, because you don’t have much experience assisting with planning engagements, monitoring budgets and overseeing people. Even if the pay in industry is better I don’t think it’s worth it and people should wait until they’re Senior 2 before leaving. If people leave as a Senior 2, they have a chance of being offered a manager role or equivalent . It
I hope you will be able to leverage your experience from the big 4, kill it (if you currently aren’t) and get promoted!
In industry some people like staying at staff/ senior level. I agree with SA1 If you want a promotion you need to ask and show you deserve it.
Ask for a promotion. Show that you deserve it. Work hard and communicate with your supervisors. They won’t automatically promote you like in public but you should be able to negotiate a raise assuming there’s a business need for someone more advanced
Seems like the best way to move up in private industry is to jump around companies. If a different company is looking for someone to fill a position that is equivalent to your next promotion, you have a better shot at getting it than waiting for your company’s spot to come open.
That sounds like public kool aid. Why would someone need to be at 10+ years as a senior in industry unless they chose that. This isn’t the 80s. There’s plenty of opportunities to move up out there for people if they are willing to switch companies after 2-4 years.
I’d consider 150k + bonus + stock options an excellent standard of pay. I’d rather work for a company where the big pay off is the potential of money from an IPO or acquisition rather than spending 15 years grinding in a client service role hoping to become partner. I’m also probably only 5 years away from the first scenario.
I’m getting paid now as a staff the same amount as what a manager made in public at the firm I left. They get around 90 to 110k. That’s exactly where I’m at. I’d imagine most people are manager for around 5 years before moving up. Maybe their next jump to SM will be where the big split is between what I’ll be able to make in 5 years and what they’ll make. As long as I have 5 years of a real life, friends, family, normal work hours I can happily accept that.
I'm really confused. What exactly are you complaining about and how can we help you get over this (imaginary) molehill?
OP: you are right. You are likely making as much as a manager in PA. But where to go from there? You have all these ideas on how to move up and these opportunities exist but there aren’t many. I have seen tons of times where someone already in the industry for 10+ years, then the companies hire a manager or a senior manager from a PA with less years of experience to be their bosses. I have been in PA for a while for a long time and have close friends of mine who left when we’re seniors, they got bumps, changed jobs to get raises, but, 9 years later, I bring home much $ home more than they do. Do I judge them? No as the moves they made were consistent with their career and life goals and we just happen to have different goals. When talking about Koolaid, you must be drinking some drinking some of it thinking there are all these opportunities available to you. Regardless, good luck.
I’m sure if you apply for a senior accountant role for a different company, you’ll get it
OP: you never heard that you would be stuck in the same position for many years in the industry? If not, it may be time for you to come out from the rock you have been living under and reassess your career goals. If you want a easier life, somewhat good pay, don’t care about promotions, the industry is for you. If you want those promotions every few years, don’t mind the stress/hours, and with the big pay in the long run, PA may be for you. Both of them are good options but the best option depends on your career and life goals. If you choose to stay in the industry, you can ask for a promotion or change to another industry job. Then relax and enjoy the 10+ years as senior. If you want the promotions really bad, cut your losses and go back PA even if a staff and start all over again. Obviously there are exceptions to the above but the above scenarios is what I see most. I have been in PA for 11 years and have seen so many cases like this.
Spent too much time reading responses that I’m exhausted and can’t think of my own
Come back to PA?
Yes if you want the promotions every couple of years. If that is not important to you, you will happier elsewhere.
EY3 $110k is still a lot. Money isn’t everything bro. Quit boasting. Sit down and finish eating your lame ass avocado toast.