How to Make the Most of Your Time In Public Accounting

I like to think of myself as an optimistic person. I try to make the best of every situation, and I give 100 percent at my job. But when I found myself crying as I walked down California Street after another long busy season day, two years into my stint as a public accountant, I knew I needed a change. The analytics­ focused nature of my job simply didn’t align with my strengths and personality. Public accounting offers finance and accounting majors a great opportunity to gain experience and build contacts immediately after graduation. However, once the initial excitement of joining the workforce wears off, many of them find themselves in the same position I did. They’re unhappy and at a loss, realizing that public accounting isn’t the right long-term fit. The good news is, you can leverage your public accounting experience into an exciting career in a number of different industries. By maximizing your opportunities and resources while in public accounting, you become an attractive candidate for a wide range of career possibilities. Let’s look at how you can turn your time in public accounting into a stepping stone toward future prospects.

1. Pass the CPA Exam

Lots of young accountants put off studying for the CPA because they’re busy at work and think they’ll have time to earn their certifications down the road. There will never be a better time to take the CPA exam than when you’re fresh out of school and starting your first job. You’ll take on more professional and personal responsibilities as the years pass, so earn your CPA as soon as possible.

2. Diversify your Client List

You may not know which industry suits you best when you start out as a public accountant, and that’s fine. Ask to be put on several different projects so you can explore your options. After a year or two, you’ll likely have a better sense of where you want to focus your career.

“By maximizing your opportunities and resources while in public accounting, you become an attractive candidate for a wide range of career possibilities.”

If you do have a particular industry in mind, angle to get on relevant projects at an early stage. Biotech clients might be a good fit for someone who majored in finance and accounting, but enjoyed science classes as well. Maybe you have a strong interest in venture capital as a long-term career prospect. By asserting your interest, you can build a portfolio around your desired specialization and transition to a job in that field within a few years. Hiring managers know that accountants take on a broad range of assignments in their first few years on the job. After that, they look for candidates with expertise in a particular area. By the time you reach Manager, you should identify 1­2 industries to focus on in order to stay competitive.

3. Build the Right Relationships

The colleagues with whom you work early in your career will become lifelong friends and career advocates, so be selective about the relationships you cultivate. Identify the most respected and influential senior managers and partners, and strategize to get on projects with them. Talk to them about their work, and ask them to coffee occasionally. Build genuine connections, and go above and beyond when delivering on projects. The Bay Area’s accounting community is quite small, so everyone knows one another. The most successful people in the field here are those who are admired both personally and professionally.

4. Develop a Solid Reference List

Your network factors heavily into your career prospects. Maintain good relationships not only with managers and colleagues, but with clients and other industry peers as well. Always bring your “A” game to audits and other engagements by acting professionally, being positive, and owning your mistakes. Ask the senior managers or partners on a project for direct feedback, and act on their advice. Talk with more advanced accountants about their career trajectories and seek out mentors. These people can advise you on career moves and recommend you when they hear of openings suited to your interests.

“Focusing on the future will motivate you and keep you on top of your game – and you’ll need both motivation and a great portfolio to take on whatever comes next.”

A lot of public accountants fail to build relationships with their clients, which is unwise. Clients can attest to your overall business acumen, and they provide valuable references when you’re looking for new jobs.

5. Work Hard

People remember your character and dedication far more than they do your performance on day­-to­-day assignments.A reputation as an earnest, hardworking team member translates into future opportunities.

6. Strategize Long-­term

Start thinking right now about the type of career you want to have in five or ten years. Someone who wants to be a CFO needs to make different strategic decisions than someone who wants to be a Director of FP&A or a controller for a startup. Research your options at the outset, and don’t spend more than three years in public accounting if being an accountant isn’t in your 10­ year plan. Those early decisions will define your future options. Seek out mentors who have the job you hope to land someday. If your goal is to become CFO of a biotech company, reach out to someone who currently holds that position and ask for advice and guidance. Surround yourself with people who have a holistic view of your interests, values, and personality and can help you make smart professional decisions. Even if you’re certain you don’t want to spend your career in public accounting, you can make the most of your time there by cultivating relationships and gaining experience in the areas that interest you. It’s hard to stick with a job once you’ve realized it’s making you unhappy. Focusing on the future will motivate you and keep you on top of your game – and you’ll need both motivation and a great portfolio to take on whatever comes next.