Related Posts
When did you receive your signing bonus?
More Posts
Conversation Starter
Additional Posts in Accounting Exit Opportunities
Coach
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
In my 25 years of working post-college, most of my "40 hour" jobs included overtime to actually get the work done. Once I advanced to being a mid-level employee (specialist, but not a manager), 45-50 hours became average. Perhaps not every week, but it wasn't unusual. I've been in education (that was actually the best schedule), nonprofit, pharma distribution, retail banking and now public accounting. I think the 40 hour week is a myth, although I manage to stay between 40-45 most weeks now (after my firm added to my team).
As for the money, I think you'd be lucky to make a lateral move, but it's possible. If you could stick it out for another year or two, the financial aspect of switching to industry becomes much better. But this is a generalization that varies across industries and markets.
In the classic (generalized) situation, PA pays better years 1-3 of career; industry is better years 3ish - 7; PA picks up again after that and has a higher ceiling/longer runway for most people.
If you like the work you do, but just hate the hours, why not try asking for a reduced schedule and/or look for another accounting firm with more reasonable expectations? My firm's total hours expectation is 2200 - 2300 per year (charge hour goals vary per level) and busy season minimum is 45-50. That's not a 40 hour week, but it's not bad for the money if you like the work. Unfortunately, I'm not hiring folks with only a year of experience at the moment.
If you don't like the work in PA, that's obviously a different story. Just be aware that unless you get lucky, industry isn't going to invest in your growth the way PA does and you will likely take longer to advance. I'm not saying it's a bad choice, just don't go in with rose colored glasses. On the upside, sometimes industry gives you broader business exposure. Also, if you decide to go back to public later, you'll be able to relate to clients better because you'll understand their side of things.
Perkins & Co made significant changes to salary and hours expectations this summer. Our previous busy season minimum was 55 total hours/week (50 charge hours). Feel free to double check with the shareholder you know or I can put you in touch with other seniors for a casual chat if you want.
I forgot to mention that we've also dropped any expectation for people to work weekends during busy season.
I disagree with other responses. I went from consistent 70 hour weeks in public (puke) to pretty consistent 40. And I didn't switch to some lame, boring job either. I get to do a ton of fun and new things, work with an awesome group, and have great opportunities for advancement. I work more than 40 when I need to but it's not that often. All that to say this: it is not a myth, and you can leave for something better in every other way too. Be picky, be patient, and good luck!
Manager of FP&A at a start-up, would highly recommend!
Unless you’re going to a government role a consistently 40 hour work week is pretty unrealistic. Wlb can still be much better, and you can get a slight pay bump