The Right Career Path For You: Private vs Public Accounting

One of the things you need to decide once you have chosen a career as an account is whether you want to work in private or public accounting. There are a lot of factors to take into consideration, such as your salary aspirations, career outlook, desired long-term goals, and preferred work environment. In addition, your personality and temperament will also factor into your decision.

A good place to start your search is with a reputable temp agency Toronto. They know which firms are hiring and can help you determine which career in the public or private sector is best for you.

Is Private or Public Accounting Right For You?

Of course, the first thing you need to do is differentiate between the two categories: private vs public accounting. The position of a public accountant entails working for a company that provides general accounting services in a wide array of businesses. Corporate, also known as management or private, accounting is geared toward employment with a company that deals with a specific line of business.

Accounting careers in both the public and private sectors are very much in demand at the moment. If you need help to narrow down which path is meant for you, you should take the following factors into consideration.

What Is Your Education Level, Qualifications and Designations

Regardless if you want to work in private or public accounting, you need to possess a bachelor’s degree in business, finance, and/or accounting. If you pursue a career as a public accountant, you must also have obtained a Chartered Professional Accountant designation. This consists of education, meeting the requirements through experience, and passing the Common Final Examination (CFE). This will lead you to higher pay rates, more room for career advancement, and plenty of exciting job opportunities.

Do You Prefer Consistency or Variety in Your Everyday Work Environment?

Private or corporate accounting careers have a fairly consistent workload and require little to no travel time. Your workload will be heaviest at the end of the fiscal or calendar year. If you prefer a steady and comfortable routine, then private accounting might be the right path for you.

On the other hand, if you crave variety and unc unpredictability, public accounting might be for you. You need to be able to work in a fast-paced, constantly changing environment as well as to multitask and adapt to new situations. You will be required to travel a lot and work long hours. Tax season will be extremely hectic if you deal with personal income taxes. Other career paths for public accounting include forensic accounting and auditing.

As a public accountant, you can aim for a role as a senior accountant or managerial position in your firm. You can then aspire to become a full partner. As a private accountant, you can advance in management as well as become CFO or, perhaps, a partner.

If you wish to pursue a career in private or public accounting, contact Team Global/MSM. We can help you choose the correct career path as well as assist you in your job search.

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