It’s almost as soon as you join the big four accounting firms that many people begin to think about leaving them. Many people even joined the big four accounting firms knowing the exact time they’re going to leave. These people know what they want to get out of accounting, so they make it happen and develop an exit strategy. They say, “I think I’ll just spend two years and then go into industry and then I’ll become a CFO.”

And the standard metric has become two years. It’s always been two years even before people started making senior associate in two years.

So when should you leave? There is no right answer to this question. It depends on the person and your goals

If you want to make more money in industry then you should probably stay in public accounting until you are at least a manager. With the title of manager, people know that you can be trusted around others. They know that you have technical abilities and some social abilities. Therefore, people will pay you more because you can attend more important meetings in industry. You can also work with the auditors when you go to industry. On the other hand, if you are just an associate, you will still be an associate in industry. You won’t be able to go to these important meetings, and you most likely won’t deal with the auditors.

There are some fast and loose guidelines though for leaving ASAP.

Signs You Should Leave Public Accounting Immediately:

  1. If you get put on a performance plan you should no doubt leave your group.
  2. If you don’t believe in your partners, you should leave your group.
  3. If you don’t have people supporting you, then leave your group.

All this being said, make sure that you use your own judgment when deciding to leave. Don’t just bail without giving it some deep thought. Let’s go over number one first. If you get put on a performance plan or think you might get put on one, you need to leave. This is because you will be forced out once you are put on a performance plan. You don’t want to have that on your record while at the Big 4 firms so get out before that happens.

Second, it’s typically not worth staying in a group if you have no confidence in your partners. Weak partners are a sign of weak culture. You don’t want to work in a group with bad culture because this will drain all of your energy.

Lastly, it is hard to succeed in the big 4 accounting firms, if you do not have partners supporting you. You need supporters if you are going to progress in public accounting. Otherwise your performance reviews will always show that you are just meeting expectations.

When should you leave public accounting?

Is leaving public accounting after 2 years the right answer or is leaving public accounting after 3 years the most desirable?

There is no right answer to when you should leave the big 4 accounting firms. You just need to gauge it for yourself. That being said you should try to aim to stay at least 2 years so you can show that you can hold a job.

Not that you can’t get a job if you don’t stay for 2 years its just that you will have to explain less during your interviews if you can stay in public accounting for at least two years. Otherwise  you will be explaining why you left public so early. People will assume something is wrong with you or that you are create drama.

The longer you stay the more confidence people have in you because they know you can tolerate a lot of pain. That is why most people leave public accounting very rapidly. It’s because of all the personalities the lack of stable work environment, the number of hours you have to work, the fact that you have to drop whatever you are doing anytime your client needs something.

What are bad reasons for leaving public accounting?

There are reasons that people leave public accounting that I don’t believe are strong enough to warrant leaving. The first one of these is thinking that the grass is greener. This reason alone is not good enough to leave. There are many benefits to going to industry, but just thinking that it is better is not going to solve your problems. There are many clients out there that have terrible culture too. Sometimes they work as many hours as public and have worse cultures. Don’t think that industry is better just because it isn’t public.

Another bad reason for leaving is that your current group doesn’t challenge you enough. Again this reason alone is not a good enough reason for leaving public accounting. If you have a strong support system and great clients, then look for other ways to challenge yourself. Don’t just think it’s the partners’ jobs to challenge. Start coming up with creative ways to challenge yourself if you like everything else about your job.

Conclusion

In conclusion, there is no exact timeframe that you should be looking to leave public accounting, but you should try to stay at least 2 years to boost your resume. Additionally, you need to really develop a pros and cons list as to why you want to leave public accounting before leaving. There is a chance that you could leave and end up in a worse situation. If you like the people and work, don’t leave thinking that the grass is always greener in industry. You need to have strong reasons for leaving any job otherwise you might be seen as a job hopper.