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Showing posts from September, 2016

Promotion in Private

Working in private can be better although it can also be hard as a staff person. I'd wait for the manager title and 5 years of experience. That way you can have staff people under you. You don't want to be a staff in private because you'll be doing the work for a lot longer in your career. It's much harder to get a promotion in private.


Agreed, a lot of individuals who switch from Public to Private (especially after 3-4 years) struggle with the idea of not getting promoted every year when they switch to Private. It's absolutely true that you will not get promoted every year, especially if you're average. It's not like a factory where people go in and out all the time, there just aren't enough slots. Stay until manager in Public, then switch to Private if you don't want to be partner. It's a common trope that the Big 4 put out there, but it's somewhat true. The way to succeed in Private is to quickly be good at whatever you're doing, and t…

Should I leave after 2 years as senior?

I'm currently working in KPMG Philippines, will about to start my fourth busy season and it'll be my second year as a supervisor/senior. I would like to know if it'll be a good idea to go work for a private company by this time. My only concern is that work outside audit may not be as enjoyable for me. However, I am starting to get tired of too much workload. 

At this point, stay until you get a year as manager under your belt and then leave. You could leave now and start as a senior accountant somewhere only if it's not a regular operational job where you'll do the same thing every time. Over the next few years, you'll pick up a lot of soft skills and technical skills that will be critical to your growth. If your only goal is a 9-5 workday and the money isn't all that important to you, then leave now, but if you can tolerate the workload for 3 more years, stay. It'll benefit you a lot long term.

Why is private better than public?

"Could you elaborate, why your life is better now?"

Here are some of the various differences between public and private-

a) The work itself - The work is significantly better. In public, you spend half your time on documentation and controls. That's all essentially Cover Your Ass work so the PCAOB or your internal reviews don't deem it to be a deficient audit. You're essentially trying to figure out ways to say that you are comfortable with your client's work. While you get a high level overview of the various processes, you don't really dig into it or have the power to change things. In private, you're actually making decisions - whether it comes to accounting conclusions or process improvements, and what you prepare or review actually makes it into our financials. Yes - we're not the revenue generators, but there is something more intangible in coming up with the financials than reviewing it once it's done.

b) On call - In audit, you're alw…