Top accounting firms are known to provide individuals with quality accounting services, such as corporate finance and tax services. Moreover, they employ thousands of people with a global reputation in accounting.
Unfortunately, deciding where to work between a regional company and a Big 4 firm can be challenging. Even though most accountants look forward to working for the big four firms, it might not be ideal for you. Understanding the advantages and disadvantages of working for big accounting firms can help you decide where you want to work. Here are the pros and cons of working for the big four accounting firms.
Pros
1. You meet great people
Big 4 firms only hire qualified professionals. Therefore, when you work for these firms, you get to meet and work with caring, supportive, talented, intelligent, and self-driven individuals. You also get to make friends who make the workplace more enjoyable and can help you with various activities outside of work.
Working for top accounting firms allows you to spent time with big clients. As a result, you learn how to handle complicated solutions and understand your clients’ financial processes.
2. You enjoy flexible schedules
Working for a top accounting firm means enjoying flexible schedules. You can work from anywhere, when you want and have outside commitments. The important thing is that you complete the task well and within the allocated time. Unfortunately, you cannot enjoy flexible schedules all the time. During tax season, you have to work at a client’s office.
3. Numerous benefits
When you work for these firms, you are likely to enjoy numerous benefits. However, the benefits will depend on the firm. For instance, you can enjoy health benefits, vacations, the 401k match, parental leave, and gym reimbursement. Big 4 firms offer these benefits to their employees to ensure productivity.
4. You get to learn and experience growth
Apart from the many growth opportunities, you also get to learn a lot when you work for top accounting firms. You will be coached, mentored, and trained. Consequently, you will get hands-on experience and work on challenging assignments.
Cons
1. Long working hours during tax season
One of the disadvantages of working for top accounting firms is that you get to spend more hours working during the tax season, which runs from January to April. Do not be surprised if you work during weekends to meet the deadline and make your clients happy.
2. Not enough employees
Big 4 firms hire professional and experienced individuals. It is why most firms don’t have enough employees. Even though it ensures job safety and eliminates competition, lack of enough employees can make accounting more stressful, especially during tax season.
3. Low compensation
Considering the work you have to complete during the tax season, the chances are that you will be dissatisfied with your salary. You can even earn more working in public accounting. As a result, you can live in areas with a high cost of living.
4. Getting a promotion is not easy
Promotions mostly depend on how long you have worked at the firm and not on your merit. It can take you up to five years to become a manager.
The above are the reasons why you should or shouldn’t work for top accounting firms. To help you decide, ensure that you weigh between the pros and the cons.
