Public vs. Private Accounting Career Progression!

Рет қаралды 45,922

3 жыл бұрын

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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Пікірлер: 96

@broteinpar 3 жыл бұрын

On behalf of all accounting majors, I would like to thank you for this amazing information

@Tekevin Жыл бұрын

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.

@sandrakay287 Жыл бұрын

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.

@Tekevin Жыл бұрын

@@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.

@nicstoohigh 4 ай бұрын

Is this with or without cpa?

@Tekevin 4 ай бұрын

@@nicstoohigh without. Currently, usually anyone above manager is presume to have a CPA. You don’t need one though.

@Antoinetteelean Жыл бұрын

You’ve helped clear up so many questions for me. Junior Finance major here considering being a controller (long term)

@LuxuryCarEnthusiast 3 жыл бұрын

Very Accurate, I have worked both public and private and these numbers are pretty standard

@TheFinancialController 3 жыл бұрын

Great, thanks for confirming this :)

@01michellehall Жыл бұрын

This is the most accurate salary video I’ve seen on KZfaq.

@vincentmamaril1023 3 жыл бұрын

This is one of the most helpful accounting career path videos on KZfaq. Thank you so much for hopefully a beneficial viewpoint. Btw, you’re really handsome.

@TheFinancialController 3 жыл бұрын

Thanks Vincent! I try....

@CIE903 2 жыл бұрын

Thank you for sharing your knowledge!!!

@SHINeeKeyofLucifer 2 жыл бұрын

Very informative! I always wondered why ppl go for Big 4 Audit despite the long hours and low pay

@durrellharley2497 3 жыл бұрын

Keep up the great work and keep it up. Thank You!

@TheFinancialController 3 жыл бұрын

Thanks for watching!

@davea6308 3 жыл бұрын

Your videos are great. I’m glad I found you.

@TheFinancialController 3 жыл бұрын

I think I found YOU :)

@bin-ob Жыл бұрын

Sometimes the Acct. Manager will be promoted directly to CFO, as not all companies have Controller position.

@jessiesi1412 3 жыл бұрын

Thanks for explaining it. I should know it when I graduate from the school. ; )

@bad2infinity Жыл бұрын

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?

@Sarchein 2 ай бұрын

the starting big 4 staff of summer 2024 in my hcol area (NYC-Westchester county-Fairfield county) is 85k

@jordansmith8547 3 жыл бұрын

Thank you. Very clear.

@TheFinancialController 3 жыл бұрын

Thanks for watching

@mohamadobaidi2894 3 жыл бұрын

This channel is a gem! Do you have any videos on the day to day activities of an assistant controller/controller/Sr Accountant?

@TheFinancialController 3 жыл бұрын

I have a day (month) in the life of an accountant video, but will do more on controller soon

@mohamadobaidi2894 3 жыл бұрын

@@TheFinancialController awesome! Look forward to it

@Evangelionism Жыл бұрын

Thank you!

@ThatGuy-ns8de 2 жыл бұрын

I’m currently pursuing my masters in accounting. I don’t plan on taking the CPA exam, and just sticking to private accounting.

@rapfarsibaza 2 жыл бұрын

An amazing video!

@ps2050 2 жыл бұрын

very nice video, real life information !

@TheFinancialController 2 жыл бұрын

Thanks

@davontawilliams3958 2 жыл бұрын

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 ?

@shopnancyiee8093 3 жыл бұрын

I've been on both sides and those numbers are legit.

@TheFinancialController 3 жыл бұрын

Thanks for confirming!

@malikova9153 9 ай бұрын

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.

@omarabouelnasr1513 2 жыл бұрын

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 :)

@Sarahdimpi 3 жыл бұрын

What is different between internal or external accounting? Which one should I choose for bachelor's degree?

@jezlynn21 3 жыл бұрын

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!

@TheFinancialController 3 жыл бұрын

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

@jezlynn21 3 жыл бұрын

The Financial Controller thank you!

@yukid1790 2 жыл бұрын

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?

@chrisquimbly279 11 ай бұрын

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

@ismaelpena8860 2 жыл бұрын

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??

@Tekevin Жыл бұрын

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.

@dees900 Жыл бұрын

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.

@shannanthompson6875 3 жыл бұрын

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?

@TheFinancialController 3 жыл бұрын

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

@gusgutierrez2513 Жыл бұрын

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.

@user-eh1sw9xb5y 8 ай бұрын

you can do it! cpas are in high demand

@dentistt248 3 жыл бұрын

At which part of the diagram you drew do you need a CPA? For accountants do you need a CPA?

@TheFinancialController 3 жыл бұрын

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).

@jerinjose3527 3 жыл бұрын

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?

@TheFinancialController 3 жыл бұрын

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.

@jerinjose3527 3 жыл бұрын

The Financial Controller thanks for the reply

@chrisquimbly279 11 ай бұрын

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

@zazairemashvili7285 2 жыл бұрын

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 !!!

@kichankim2215 3 жыл бұрын

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?

@TheFinancialController 3 жыл бұрын

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

@kichankim2215 3 жыл бұрын

@@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!

@tapanchowdhuryofficial 3 ай бұрын

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

@rinata36 3 жыл бұрын

Thanks. Is it worth opening your own practice?

@TheFinancialController 3 жыл бұрын

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!!!

@andreastsogkas9807 Жыл бұрын

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!

@chrisquimbly279 11 ай бұрын

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

@chrisquimbly279 11 ай бұрын

I’ve met more people NOT CPAs than are so you’ll just marketing yourself to gain clients would be the only “hard” part

@prudencemthembu4476 3 жыл бұрын

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

@jamesnorris5778 3 жыл бұрын

Do most private companies actually have positions separated out in this hierarchical structure? I prefer it, that's why I'm asking.

@TheFinancialController 3 жыл бұрын

Yes

@jaspergibson7500 2 жыл бұрын

Hey everyone! Does anyone know if you can land a job as an auditor with a bachlors in business?

@jondoe2987 2 жыл бұрын

Is the pay bigger in the USA compared to Canada

@MohamedAyman-gd9cd 2 жыл бұрын

I have question . Can I change from private accounting to public accounting to join big four firms to get experience in public accounting

@TheFinancialController 2 жыл бұрын

Yes

@mohammedraed2860 Ай бұрын

Can i work in public accounting without a CPA or ACCA?

@leenmeridian5271 3 жыл бұрын

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

@TheFinancialController 3 жыл бұрын

You can start without it. But willl need it to progress into senior associate

@nikolaisedov2295 Жыл бұрын

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.

@teejay6063 Жыл бұрын

😅 Lumbergh!

@johnnybaker4166 2 жыл бұрын

Would this be good for a 2 year A.A.S Accounting Degree or do you need 4 year degree

@sandrakay287 Жыл бұрын

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.

@aichasyeda7872 2 жыл бұрын

Can a US CPA become partner at big 4?

@TheFinancialController 2 жыл бұрын

Of course

@BornHitManX 3 жыл бұрын

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?

@darylmiller8911 2 жыл бұрын

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.