April 15, 2014 | 5 min read
Now’s The Time to Switch to the Private Sector

Tandym Group

As we leave quarter one and busy season behind, this could be a great time to reassess your career strategy. We suggested back in October that accounting professionals who are looking to make their move to a new company do so before busy season, but if you decided to stick it out for one more busy season at your current employer, now’s the time to consider your next step.

While the weeks before busy season can be a bit of a stressful time to conduct a job search, the lull that follows after quarter one can make for an excellent time to update your resume, reach out to your network, and start perusing other opportunities. When doing so, it’s important to consider stepping out of your comfort zone. Our Accounting/Finance staffing professionals recommend moving from public accounting to the private sector, which can be a great way to increase your marketability, enjoy better hours and a work-life balance, and broaden your horizons.

“Staying through one more busy season has afforded you another six or so months’ experience,” says Robert Szymanik, Managing Director of The Execu|Search Group’s Accounting/Finance division. “That’s an excellent addition to your resume and skill set, which could work in your favor when looking for another opportunity. However, if you are thinking of making a change, don’t wait too long in hopes of garnering even more experience! The longer you wait to make the move, the less marketable you become to private industry hiring managers.”

For example, the time for promotions in public accounting is fast-approaching and many may be tempted to wait for a title change before starting their job search. However, while you may think that new title will look good on your resume, sooner is better than later if you plan on eventually making the move to private industry. In fact, it’s important to remember that waiting it out and acquiring that promotion doesn’t necessarily mean that you’ll bring that new title with you when you do leave or if it means anything in a different firm; titles don’t always translate directly across companies.

If you’re waiting until after you get promoted to look elsewhere, it’s also worth noting that making a move right after receiving a promotion may make you seem disloyal. As a result, if you do accept a promotion, you’ll have to give it some time before starting your job search—which will land you in another stressful busy season with a company you might not be happy with. Therefore, it’s best to take advantage of the time you have now rather than get caught in a cycle of waiting through busy seasons and promotions.

Not only does that make this slower time the perfect time to begin searching, it leads right into the “busy season” of the private industry: quarters two and three. This means many firms in the private industry will be searching for talent around this time to help. According to our Accounting/Finance division, job openings and successful placements increase 20-30% during these quarters.

“While many may not think this is the best time of year to start their job search, it’s actually never been a better time,” says Robert. “During this time of the year, we see a dramatic increase in job orders and successful placements within the private industry sector. In fact, we currently have close to 1,000 jobs open in the New York City Metro area, the highest number since the recession.”

If you’re unsure of whether or not your skills from public accounting translate well into the private sector, consider this: 60% of our Accounting/Finance division’s placements in the private sector are those with between two to eight years of experience out of a public accounting firm. So if you’re searching for the next step in your career, not only should private industry accounting be your next stop, it’s also the perfect time to do so.

 

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