Differences Between Firms When Seeking a New Accounting Job

When exploring your options, the three main differentials in accounting firms are:

1. Location
2. Size
3. The way they work

I have dived into each of these three variables below to help you decide which are most important to you when searching for your new accounting job.

Location:

This is a rigid and crucial point for some while very flexible for others, but the daily commute is an important point for most.

As an accountant, you have options everywhere. There are accounting firms in every suburb, all over the CBD and regionally in every direction so your commute doesn’t need to be long.

I hear all sorts of opinions on the pros and cons of city versus suburban firms. The reality is, it depends on the firm. There are good and bad firms in the city, just like there are good and bad firms outside of it. Some people believe that a city firm will look better on a CV but it depends more on your responsibilities and how relevant they are to the job you are applying for as well as your other aspirations and motivations.

Practical comparisons of different locations:

• Easy public transport to the city but cheaper parking in the suburbs
• More lunch choices in the city but you might have a shorter commute home from a suburban firm. Some people even go home for lunch
• You might find it easier to meet your friends after work in the city, while you might get more time with your family if you work close to home

Don’t worry about what you have been told in the past about where you should work, they are entirely subjective depending on what matters most to you.

Size of the firm:

The size of accounting firms are often categorised. They are broadly considered to be:

• Big 4
• Global 2nd tier
• Mid-tier
• Large boutique
• Boutique

In every one of the above categories, there are firms that will progress your career, help you develop and treat you well. Just like there are firms where the opposite is true in every category.

Practical benefits of big and small firms:
Big:

• Big firms on your CV will help your CV be read. It is assumed you were trained well at a big firm and you must have been interpersonally strong to get the job. It doesn’t mean it’s true or you will get the job, but it can help you get noticed at the beginning
• At senior levels, you could bill more revenue due to higher charge-out rates and easier business development
• At junior levels, people seem to be more affected by what their friends think, and your friends might be impressed
• There are more people in the office which can be socially beneficial
• Bigger firms are more likely to have bigger clients, which you hopefully get exposure to

Small:

• Small firms can give you more exposure to clients. It does not mean this is always the case but smaller firms can be more flexible with the opportunities they give their staff. You are less likely to be siloed at a small firm
• At Manager level, you will be more involved in the leadership of the entire business than at a bigger firm where you would lead just a team. This can help you gain relevant skills to become a successful Partner/business owner
• At more junior levels, you could get the chance to manage client relationships and run client meetings
• Your hard work will be noticed by everyone
• There is less bureaucracy and quicker decision making

All these pros and cons depend on the individual firm and the people within it, not solely the size. For example, a 10 staff suburban firm I work with has a global client with a fee in the hundreds of thousands of dollars. Your recruiter can help you know this detail.

The way they work:

There are lots of ways firms can differ in the way they work and this can affect your day-to-day more than their location or size. These can include:

1. Timesheets
2. Cloud-based or paper-based systems
3. Client niches of one industry
4. Pooled teams or separate teams
5. Pure Business Services/Advisory or additional service lines
6. Outsourced work, overseas team or all in-house
7. Big clients or SME focus
8. Introduce clients to staff or keep them only with Partners
9. Allowing staff to work from home and promoting flexible working
10. Partners who want people to have fun in the office or have a more traditional approach
11. Pathway to Partnership for staff or no opportunity for ownership
12. Whether firms embrace social activities, for example trips away, team lunches etc.

There are clearly a lot of variables with this but the above list are regularly mentioned to me by candidates as reasons for leaving their current firm or what they are looking for from their next.

It is good to be aware of them so you can easily decide what your preferences are. This will help your recruiter narrow down appropriate firms for you and help you elaborate on your priorities in interviews. Your recruiter should be able to help you prepare for interviews with this level of detail. If they don’t, please speak with me as I love this part of my job.

Conclusion and what to do next:

Have a think about what interests you from what we have discussed in this article and speak with a recruiter you trust. Ask for their honest, educated opinion of how likely you could get your ideal job, if it even exists, how long it might take, and what you could do to increase your chances.

You might find that what you are dreaming of is actually within your grasp. If you find that it could take a couple of steps before you reach your goal, it is best you know what those steps are. We can help you with this.

Lawson Delaney is a leading executive search and professional recruitment firm based in Melbourne. We specialise in recruiting CEOs and leadership teams, and accountants of all seniorities for Accounting firms. Contact us on 03 9946 7300 or support@lawsondelaney.com.au to learn more about how we can assist you with a vacancy or new role today.