How To Differentiate Between Corporate And Public Accounting
While account is, undoubtedly, a lucrative and significant career choice replete with so many opportunities, as far as jobs and promotions go, it is sometimes difficult to decide upon the strain of accounting on which you’d like to focus. Indeed, there are so many options and too many nuances to consider when it comes to the differences between corporate and public accounting. Finding the right fit for oneself takes quite a bit of deliberation. The following, then, will outline some of the lesser-known elements of these two kinds of financial management, so as to help you make an informed decision about the most advantageous career path for you, according to your goals, your skillsets and capacities for learning, and finally, what you’re most interested in.
Public Accounting And What It Means As A Career
If you choose to specialize in working with the public as an accountant, there are a few distinct advantages. More specifically, once you find a financial recruiter who takes in interest in you and hires you for a position in finance, you’ve got your foot in the door, one that leads to a variety of exciting opportunities; not only are there so many jobs readily available for public accounting positions, these are typically merit-based positions with lots of room for growth alongside a diverse group of clients. In other words, public accountants have the flexibility to develop a wide range of experiences in the world of accounting precisely because of the public nature of the job.
With this kind of variety, you’ll be sure to advance rather quickly and maximize your earnings, while meeting people and networking across industries. It is simultaneously an opportunity for specialization (i.e. in the public realm) that lends itself to a multiplicity of openings and possibilities. With this openness comes travel opportunities and other fun perks. Nonetheless, there are certain disadvantages, like absurd scheduling and very slim deadlines with which to work. However, it appears to be quite worth it in the end.
Corporate Accounting And Stability
It’s easy to balance one’s work and one’s life, and hold each one in equal regard with a corporate accounting job. Because of the singularity of focus (in difference to the many nodes of a public job), you’ll be faced with less pressure. Indeed, the deadlines are looser and the billable hours are plentiful. Moreover, there is a certain amount of job security that one would not find elsewhere in the world of accounting, as role is fixed and you develop a certain irreplaceable rapport with a corporation. In other words, the day to day activities are quite similar and predictable, given your attachment to private accounts and clients within a given industry. This further unhinges your schedule, making things relatively stress-free. Even without managerial experience, you can work your way towards being your own boss in a corporate setting, albeit at a slow rate.
In any case, there are drawbacks and advantages when it comes to choosing a career. Luckily, many accountants can comfortably switch back and forth between these two distinct lifestyles at different points in their lives. So, no matter the choice you make now, you won’t be held accountable for it for the rest of your life.