CPAs: There's Life Beyond the Big 4 Accounting Firms

Isn't it interesting that the second most searched-for topic outside of "jobs for CPAs" is "jobs for CPAs outside of accounting?" If you read the r/Accounting sub-Reddit or Going Concern , or maybe you lived the life of having worked at one of the big accounting firms, you probably know that it's not a career for everyone, at least possibly not long term. Public accounting, audit, and client work can involve long hours with sometimes mind-numbing processes. Yet if you earn your CPA, firms are also the most trodden path.?

One Reddit poster was concerned by the discussions happening. As a single mom working for her degree, she was worried that accounting wouldn't work for her and her family responsibilities. Her post got over 200 comments, with several advising her to get her degree because it would open doors for her,?but?that she should look beyond accounting firms. Just skimming the rest of the Reddit channel, it's clear: Those people are under stress.

So what do those non-Big-4 opportunities look like? And how do you get them, especially in a competitive job market? Here are a few ideas, but please share others.

Smaller Firms

Smaller firms sometimes mean smaller clients but they often come with more opportunities to get experience. You may never become CFO at Goldman Sachs (few will), but making partner at a small firm or solving your clients' problems are still great achievements.?

• Why you might be a fit—You like dealing personally with clients and new projects. You treat it as a chance to learn about new industries and spaces. You'll also likely be pulled into projects that best fit your skillset.
• Why you might not be a fit—You're on the clock. For all firms, billable hours are important, and you may not always be able to provide attention to more entrenched problems an organization is facing. Your ability (and influence) to affect change is often out of your hands (and out of the hands of your firm).

Says one Redditor: "The secret? Skip the whole big 4 crap. Don't bother with any firm that hires staff to wring every last drop from these kids before the poor things, exhausted, flee to corporate work. Most accounting firms are not that big, and they are all desperately in need of hard-working moms with problem-solving skills who work smarter, not harder. They don't want to hire punk kids that will chase the next shiny job offer, anyway." (citation)

In-House Accounting and Finance?

There are many opportunities within companies for accounting and finance. The key to happiness is to try and identify businesses and organizations with a vision for finance and accounting beyond just being a back-office cost center. In fact, there's a real trend where finance team members are also being asked to lead operations activities. The clearest sign is to look for companies that invest in technology because they can't afford to waste human capital on low-value work.

• Why you might be a fit—The best path to CFO or other leadership roles is in corporate accounting and finance. Your CPA skills will matter day-to-day, but your leadership qualities are coveted. That means thinking outside the box, expressing yourself in various situations, and pushing the business forward.
• Why you might not be a fit—Organizations with growth goals also deal with transformation issues. Because finance and accounting are operationally tied to the business, you need to be able to deal with change and people. That includes new processes and technologies, as well as working with many different roles, from executives to sales and marketing to outside vendors. The bigger the company, the less this becomes an issue (but also, the fewer opportunities to stretch).

Analysts and Data Scientists/Data Engineers

Whether it's in-house or through an agency or firm, analysts and data experts are highly desired everywhere. Your ability and motivation to dance with spreadsheets, planning software, and BI tools (and maybe even code) will earn you a place in that world, even beyond finance and accounting.?

• Why you might be a fit—You love to make things make sense, no matter how disparate the data points are. Your ability to spot trends, ask questions, and educate others is crucial. Data engineers and analysts are even becoming "mini-celebrities" with Excel competitions on ESPN and analyst tips on YouTube and TikTok.?
• Why you might not be a fit—Maybe dealing with just numbers isn't your passion. Maybe you thrive on organization building or collaborating on projects beyond the data. You have to really love analysis and think on your feet to be in that world. We can't all be Neo from the Matrix.

Be sure to watch our interview with Matt Brattin of TMB Analytics as he shares his thoughts on being a data analyst.

Even More Off the Beaten Path

There are dozens of different roles that welcome CPAs—from treasury management to banking to investing to tax accounting to real estate. They all have unique trajectories that you can build your career from.

But we want to share one more that has become a real possibility.

Both Tipalti (the provider of Generation Finance) and our friends at FloQast hire CPAs. And not only in our accounting and finance teams but as salespeople, solution consultants, partner development, and more. For software companies that market and sell to accounting and finance teams, it's invaluable to have a qualified voice articulating concepts to our customers. In fact, Generation Finance will talk with Tipalti's solution consultants who moved from their traditional CPA careers in an upcoming panel on their journeys.

Join the Nov 15th discussion with Tipalti's CPA-certified Solution Consultants about their unorthodox career paths.

The point is that a CPA certification doesn't have to define your career for now or forever. In fact, it can open doors beyond accounting, and that includes possibilities in virtually every field.

Be sure to follow Generation Finance as we continue this discussion.

And if you moved away from the world of big accounting firms, share your journey in the comments below!