Ready, set....stay at the firm!?!

I worked at a CA firm way back when. I was also in Finance & Accounting roles in industry. I have now been doing recruiting for 13 years. I think I know a thing or two. My kids would say otherwise.

There is nothing more frustrating working in recruitment then when you have a great role with a great company...and think you have found a great candidate and they are not interested. WHAAAAT!?!?! WHY!?!?!?! Rejection sucks. OK, who are we kidding?! The most frustrating thing is when an offer gets turned down or someone backs out after accepting. Those really suck. But I digress. I'm not crying, you're crying.

Recruiting the best candidates is becoming a tough slog. The talent pool is becoming tighter and clients are continuing to be picky. Good candidates are becoming more picky as well and getting multiple offers. The whole industry feels the pinch. Not enough purple unicorns to go around and the circus has left town.

Fast forward. I'm sure that CPA, CA firms have not changed as much as they think they have, since the last time I worked in one. The hours are long. The clients can be challenging. The people you work with are great. There are still glass ceilings to break. Did I mention the hours are long? So when you contact prospective candidates, hoping to discuss a great role with a great company because you think you've found a great candidate for your awesome client and they don't bite, you start to wonder? Does nobody want to do a technical accounting role in financial reporting anymore? What is it about financial reporting that turns off so many CPA, CA's? Why did you get your CPA, CA if you don't want to use it in a technical setting and learn a few new things?

Is it the burn out of having gone through a busy season buried in IFRS or 10-K reporting that has turned them off? Is it not "sexy" enough work? Not everything is M&A, high powered deals or investment banking. Not every opportunity is going to be a steady 9-5 either. If you want to grow your career and see yourself as a Director, VP or CFO one day, you need to get your hands dirty. And that has to happen OUTSIDE the firm to show you can learn and grow in a new environment, not the bubble of the firm. I say this with all my experience I mentioned in the opening salvo.

Getting into industry in a financial reporting role makes sense. You have been doing those types of engagements and learning the skills and competencies to manage complexity and technical issues for clients. Now you can show your stuff in a role that is a comfortable leap from the comfort zone (firm) and focus your learning curve on getting to know their business, how things work in their organization (cultural land mines can take a toll...) and work with a much wider variety of employee base from a skills and competencies perspective. The firm is a fish bowl and those things I mentioned can all be stressful. Minimize your anxiety by leaving the firm into a role that has some element of comfort. Make the transition as seamless as possible. Don't get in over your head. This is why I've also been a proponent of taking a transitory step into an Internal Audit role, but that's an article for another day when I have access to more chocolate.

What I'm not saying is that you will be bored. Again, if you want to know how the inner workings of the financial health of the company operate, you should do that from inside a financial reporting role. You learn to analyze the financial statements in detail and begin to develop your relationship building skills. You can then parlay those skills into a role on the FP&A (Financial Planning & Analysis) side of their Finance team if that is something on your desired career path. You can be involved in those M&A activities and sexy projects while sitting in a reporting role. The opportunities are endless.

If you are looking for some flexibility, these are the types of roles that can offer it, as the reporting cycle of a company is typically static and predictable. You know when quarter end happens. It is not an ad hoc date that drops in your lap. Year end is pretttttttttty hard to miss. In some organizations, they combine the financial reporting and FP&A functions in to what I call, "hybrid roles". They are less common, depending on the size and structure of the Finance team in the organization, but they are highly sought after and competitive to land. There is no Director of Finance, VP Finance or CFO that has not done a stint in financial reporting.

It may also be easier to set your feet outside the firm for the first time into a Management level role in a financial reporting capacity. This could be a step up or a lateral move from the firm. It is much harder leaving as a Senior Associate or even a Manager, and landing into an FP&A Manager role. I don't think I have ever seen that in 13 years. Clients are looking for candidates with relevant experience. They expect you are the financial reporting gurus. It may be easier to make the direct move into an FP&A role coming from the Advisory side of the firm, rather than Audit & Assurance. But enough about FP&A....see how easy it is to get off track from the backbone of the P&L? Also, my chocolate supply is dwindling.

All I'm saying, is CONSIDER roles in Financial Reporting. It is very hard to find a good company, with a good culture, great people, solid career opportunities and keeping your commute to a manageable one. Purple Unicorn time......If those upsides are hiding behind a financial reporting role, it is worth your while to at least explore it.

I'll be contacting you. Will you be ready & open??? Better yet, why don't YOU contact ME. My clients are ready and open. Thank you.....NEXT!