Fitting In: How to Select the Right Firm for You
Speaking from personal experience, selecting an accounting firm as a post graduate is an important and potentially overwhelming decision. Ultimately, the significance of this decision is the difference between taking a job and starting a career. And although there are many variables of selecting the appropriate firm, the following four areas were especially important in making my decision. Hopefully you'll find them useful, as well:
Industry Concentrations
Most public accounting firms today serve a variety of clientele across a range of industries, some of which may include government, not-for-profit, banking, manufacturing and healthcare. Additionally, firms generally have industry niches that have become their specialties over time.
Many accountants just entering the world of auditing and accounting may not know the industry that interests them most. If this is the case for you, a firm with a large mix of industries may be your best option. However, if you already know you would like to work in governmental accounting, for example, or eventually pursue a career in the industry, then selecting a firm with a strong presence in that market is essential to your development in this industry.
Client Exposure
Large firms typically have large clients that require many members on their engagement teams, which may include four or five staff, two managers and a partner. Smaller firms, meanwhile, may have smaller clients which only require one or two staff, one manager and a partner. There are positives to both types of clients and engagement teams. For instance, engagement members working with large organizations could be scheduled to work on one client for six months of the year or more. This helps bring stability to the work life, familiarity with the client and, in general, the industry, and strong relationships with co-workers. Additionally, staff are usually responsible for specific areas of the audit. Because larger clients may have more complex transactions, accounting and overall magnitude, the staff may develop especially strong skill sets in these specific areas.
Due to the fact that audit engagements for small organizations may only last three to four weeks, staff working with these clients normally work with a wide variety of clients. This may not only include multiple clients in the same industry, but multiple industries, as well. This exposure helps develop diversity of skill sets and technical knowledge while maintaining the interest of individuals who like change. In addition, because one individual may assume sole responsibility for an audit as the only engagement member performing field work, they have the opportunity to see the entire audit—or the “Big Picture”—providing a sense of ownership to the audit from planning to preparing the report.
People
Before deciding where to work, it is a good idea to meet and learn about those with whom you will be working. Most accounting firms have a recruiting period where events are set up to meet the employees of the firms. If you're interviewing on your own, however, consider requesting to meet, or possibly even go to dinner with, others who work within the firm. The accounting profession often requires working long hours and weekends, but the time commitments are much more tolerable and enjoyable if you can establish comradery with those working with you. In addition to liking the people working directly with you, it is important to develop strong relationships with your superiors. Therefore, you may consider asking the staff at prospective employers about their relationships with managers and partners in their firms.
Work/Life Balance
Working in accounting is great, but everyone wants and needs to spend time with their family and friends and engaging in leisure activities. Most accounting firms stress the importance of work/life balance, but some implement this better than others.
While it is typical to have “busy seasons” with longer hours, tighter deadlines and increased stress, there should also be periods where your work life and non-work life are more manageable. To get an idea of the work/life balance offered at a particular accounting firm, ask the staff and managers about their hobbies and typical work day during and after busy season.
Though there are many things to consider when selecting the right firm for you, focusing on the four areas highlighted above may help make your decision much easier. And while some of these areas may seem inherent, conscious consideration of each will aid in ensuring long-term happiness with your decision. In the end, enjoying your job and your workplace makes work seem less like work.
Clark Province, CPA is a senior accountant at Watkins Uiberall, PLLC. You can contact Clark at cprovince@wucpas.com.