New Job Advice

[Dom]

I am now currently considering 2 offers of employment from 2 very different financial firms.

1) A large, multinational, multilevel, multi service firm. Big name across the world, tremendous opportunities to move anywhere they have an office. The money is more than I ever imagined, starting at $70k and moving upwards to 6 figures next year when I receive my professional designation.

The cons are a temendous work load, high stress, high responsibility, little autonomy and a corporate structure I really hate.

2) Smaller local firm, full service, well respected. I would work directly for a partner as opposed to on my own and I would be in a position to become a partner within 10 years, due to the age of the current partners. Money is less, $55K right now and up to $75k when I receive my professional designation.

But it's small, so there is little room to advance past where I start.

I've only ever worked at big, corporate like places. Anyone ever work for a small professional firm? I'm almost certain I'm missing something vital in my decision.

[Shellhead]

Counting my college internship and seven years in public accounting after graduation, I worked at four different small CPA firms. The largest one had about 20 employees, while the smallest had three. I also grew up working for my parents, who ran a small business as construction sub-contracters, plus most of my post-public career has been with small companies. But I have done some temp work for a few large companies, plus I worked in a couple of non-accounting entry-level jobs for huge corporations while in college.

I like working in a small company, because I get to work on a variety of things, instead of getting trapped in a narrow specialty as often happens with a large company. It's true that there is little room for advancement at a small firm, at least until somebody retires. However, if you are willing to make the effort, you can create your own advancement by bringing in new business. It helps if you have lived in that area for years, meeting lots of people. If not, you will need to become active in the community, joining groups so you can meet potential clients.

To be honest, the small firms didn't work out for me. Three of the four firms didn't have enough business in slow season and tended to cut hours or even lay people off. The second largest firm had some great clients with non-calendar year-ends, which kept everybody busy in the summer months, and I could have stayed there if I hadn't been young and impatient at the time.

Even so, it sounds like you would rather work for the smaller firm, and from the way that you've described the two jobs, that would be my choice as well. Just ask enough questions to be sure of what their client base and workload is like, so you have a realistic idea of what to expect from the slow season. (I'm assuming that we're talking about public accounting... if not, ignore the seasonality issues.)

[Dom]

Seasonality and workload aren't a problem.

Since SOX came into play, most big firms dumped there small to medium sized clients because they need to focus on internal control compliance and such.

As a result, these mid sized firms picked up all the small and medium clients. And now need staff. That's why I was able to get an offer so quickly and why it's for so much money.

If this was before Enron, I'd be lucky to get $30K from anyone.

But the smaller firm is more appealing to me, and there is some room for advancement, just not as quickly.

[Lone Ranger]

Dom

It's not a perfect comparison, but there are plenty of similarities between the legal and accounting professions in Canada.

Since you are young, I'd vote to go with the large firm. You will get a great name on your CV, a broad experience and should make plenty of contacts. When the time comes for you to decide whether or not you want to work for a smaller firm or perhaps in-house at one of your clients, the transition should be smooth as you will look very good on paper.

That's how I did it with the law. I started at a top 5 firm here in Toronto and it opened a lot of doors for me. Friends of mine who started small have had a tougher time when it came to landing new jobs.

The big firm may not be the best job for you today, but I would think that it would pay off in the long run.

[Dom]

Dom

It's not a perfect comparison, but there are plenty of similarities between the legal and accounting professions in Canada.

Since you are young, I'd vote to go with the large firm. You will get a great name on your CV, a broad experience and should make plenty of contacts. When the time comes for you to decide whether or not you want to work for a smaller firm or perhaps in-house at one of your clients, the transition should be smooth as you will look very good on paper.

That's how I did it with the law. I started at a top 5 firm here in Toronto and it opened a lot of doors for me. Friends of mine who started small have had a tougher time when it came to landing new jobs.

The big firm may not be the best job for you today, but I would think that it would pay off in the long run.

Damn, that's an excellent point.

The path I had in my mind was kind of different, though. I figure I could start at the small firm, which would give me access to certain parts of a file that I never would get in a big firm, and that exposure would help me learn. As I get promoted to a manager position, with my experience in full client service, I'm at an advantage over people who started in big firms and never got the full exposure to financial statements. Essentially, I'd be using the small firm as a training tool to make me more valuable in 5 years.

Then I get the big firm, the big name and the big money.

But your way makes a lot of sense.

[cactusmaac]

edit - ignore.

[cactusmaac]

Damn, that's an excellent point.

The path I had in my mind was kind of different, though. I figure I could start at the small firm, which would give me access to certain parts of a file that I never would get in a big firm, and that exposure would help me learn. As I get promoted to a manager position, with my experience in full client service, I'm at an advantage over people who started in big firms and never got the full exposure to financial statements. Essentially, I'd be using the small firm as a training tool to make me more valuable in 5 years.

Then I get the big firm, the big name and the big money.

But your way makes a lot of sense.

It depends on what your future plans are. If you plan to work for multinationals in the future, go big. If you don't particularly care and just want a much happier and stress-free working environment, go for the smaller one.

You're not going to get much advantage working for the smaller firm since the big firms are so specialised, they don't need generalists.

[TheTen-EyedMan]

Do you want to work with Gene Hackman and get hassled by Wilfred Brimbly?

[Golon9977]

Its always better to work with bigger companies. Theres a greater chance you'll get bounced but they offer more benefits, pay and advancement. Stress? Pfft. Dont whine about your pussy.

[jessecuster3]

yeah that touches on it. But salary is only part of it, what about benefits ? How much do each contribute to your 401k ? How is the starting vacation time, personal days, sick days, etc, what about holidays ? What about the health care plan, does it include dental and eyecare ? What about profit sharing ? With the right companies, a benefits plan can add up to 20k to your salary.

[Dan Apodaca]

Its always better to work with bigger companies. Theres a greater chance you'll get bounced but they offer more benefits, pay and advancement. Stress? Pfft. Dont whine about your pussy.

Is that what you call your soul?

[howyadoin]

I'd say interview with both, tell the Mr. Roboto story, and whichever one laughs, go to work there.

[hoffmandu]

Corporation= the devil. They'll treat you like meat, and dispose of you if need be. Go for the small firm, I bet it's really ladi back with greater chances you'll enjoy it. It's not always about the money.

[Shellhead]

Corporation= the devil. They'll treat you like meat, and dispose of you if need be. Go for the small firm, I bet it's really ladi back with greater chances you'll enjoy it. It's not always about the money.

Hoffmandu, I agree with you, and Howy also had a great point. However, Lone Ranger is correct, it is easier to start with the big company and move anywhere from there with a great name on your resume. Start with the small firm, and you will have a difficult time ever moving to a bigger company. Even competing for a position at a smaller firm is easier if you started at the big one.

Dom, ultimately you need to take a hard look at yourself and know your own priorities. If you are willing to spend the next few years working your ass off for people that you don't like, that will be a strategic sacrifice that will pay off for years. However, if you decide that money is not the most important part of your life, you may find greater long-term happiness with the smaller firm. It's an important decision, and even though I know myself well enough to know my answer, it would still be a difficult decision.

Whatever you decide, never look back and give it your best effort, and that way things will still work out for the best.