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Still a raise
Mentor
What would be your other options if not on partner track? Would you be able to stay with your firm in your current role? Is there another role that is a non-equity role like director or something? Do you want that?
Going to industry can be a great change in pace and can be a much better fit. Did they say why you aren’t on partner track?
Fwiw, I left Big4 for industry as a SM and am so much happier. I like doing the tax work but hated the sales aspect of the SM/partner level. Industry is a better fit for me because I focus on what I enjoy and am good at and don’t have to deal with the parts I hated about Big4.
Mentor
Pay is more than a MD and growth is about the same. I won’t be a VP Tax anywhere - don’t want to - so will always be at the director level whether in industry or in PA. The difference will be in size of company and the role so I can move around to control for that. Right now, my company is huge so there are a lot of different areas of tax I could explore and do here for growth. Or I could move somewhere smaller and have a broader set of responsibilities.
SM1 - I’m going through this right now. 2nd year SM and I know I don’t want to go for partner because of the sales aspect.
How long was your search before finding something in industry? I’ve been searching for 11 months. Most of the feedback I’ve gotten is the firms are looking for someone with industry experience (tax director, VP of tax, tax manager, head of tax roles). Seems like I’m competing with people that have both public and private experience which does not bode well for me (over 10 years all in public).
Mentor
It took me about 4 months to find the position I wanted. I interviewed in several places and was willing to move for the right job so that helped. I did have industry experience already. I left Big4 as a senior, spent a few years out of PA, and then went back as a boomerang. I am sure that helped because I could say that I knew what I was getting myself into. Also, I knew when I went back to PA that I always intended on going back to industry. I just wanted more experience and technical training so went to get that.
Only if its a true 9-5.
Agree. There really are not a lot of 40 hour a week jobs in upper management. But it does sound nice on paper
Coach
Work smarter and harder, look at your exit opportunities, lateral to another B4 and rebuild your base, or pack it up and go to industry. Good luck OP
Industry is Sooo much better!!! Get your life back! No more recording client hours or that pressure! Muchhh better hours!!
Does that mean they said you would be on MD track? Or no PPMD prospects at all?
Dang. Sorry to hear that.
Yes. Your base pay may be the same, but bonuses and stock comp should give you the bump. Look at the full package
Do you have any experience with ASC 740?
Coach
I don’t. Background in funds tax.