Should I stay in auditing?

Question

I have been at a big-4 accounting firm four two years (in audit), and get calls from recruiters several times a week. I get frustrated by auditing because I feel like my work, while important, has no impact on strategy or ACTUAL business. On the other hand, everyone says that Big 4 experience and a CPA "opens so many doors", and that you should stay until Manager. My eventual goal is to be a CFO or director of strategy, and I wonder how becoming an audit manager is going to help me get there.

So, my question is, should I stay until manager, or should I go get a job in industry (mgmt accounting/finance) and work my way up that way?

Answer 1

The longer you stay in the Big 4 firm you are at, the more calls you will get, and the bigger the numbers they will tell you. It's no secret that you will be a hot commodity once you make manager. I work at a Big 4 as well, and I did a lot of recruiting for them back in my university days as well.

Auditing may not seem like a value added activity (it isn't really), but it helps you understand the business of your clients, which is very valuable to companies. An auditor friend i know of who works in IT auditing recently got a job as a security consultant for a very large company, and a huge pay raise. Another guy I know almost doubled his salary after accpeting an offer a few years after making manager of the tax LOS in a Big 4.

I should also mention that working as a CPA does open up many doors, but that working in industry doesn't as much.You will be more marketable as a manager of a Big 4 than as a controller of a big corporation.

Answer 2

You should look at your the opportunities that present themselves ... but don't be in too much of a hurry to jump ...

At two years into what (for many) is a forty-year career, you don't have to worry about missing the 'train' yet ... what you gain from a B4 firm is a great contact network ... if you are concerned about becoming pigeon-holed, you can also look at other practices within your firm. Obviously, the higher you move in your current organization, the higher the contacts that you make will be placed ... so moving ahead where you are can have benefits.

When you look at options ... consider (i) intermediate term prospects of the organization and (ii) how the opportunity would help 'round out' your own skill portfolio and help you progress toward your goals. If both look good ... go for it. Keep your eye on the 3-5 year horizon.

My advice ... take your time and continue to build experience and contacts ... you will know the 'right one' when it comes along.