Change in Employer

Moments That Matter

Remaining loyal to one employer forever is a thing of the past. It’s not that loyal CPAs don’t exist, but the standard trajectory for careers is different than it used to be. In today’s world, changing employers is often seen as a way to get to the next level of compensation and value you expect for your skillset. Switching employers is no longer seen as a negative to your career growth; it’s almost expected and even seen as beneficial.

If you’re thinking about changing firms or moving to business and industry, make sure you have a plan in place.

Things to Consider

Before you commit to jumping ship, make sure that changing employers is right for you. Some key considerations include:

  • Compensation. Switching employers is often the fastest way to get a salary increase and ask for what you think you deserve. However, if salary is the only reason you’re thinking about leaving, consider asking for a raise, or revisit your firm’s policies on salary increases before you polish up your resume.

  • Additional advantages of switching employers includes more upward mobility, the ability to experience a new work culture, as well as the opportunity to work with different kinds of clients.

  • Commitment to education and the profession. Will your new employer pay for advancing your education the way you expect and need? At a minimum, ensure any potential employer will pay for the continuing education and licensing you will need for the states your clients reside in. Additionally, will a new employer pay for master classes or soft skills training?  Does the firm pay for membership to AICPA and necessary practice groups you need to hone your skills?

Maybe those are some of the reasons why you’re thinking about leaving. However, make sure you’ve thought about what you might be losing or giving up.

  • Your reputation. How long have you been at your current employer? While switching firms may be losing the stigma it once had, if you leave too soon, you may be viewed as someone who gives up easily or holds unfair expectations.

  • Rose colored lenses. Make sure you do extensive research on any potential employer. Look at their company-culture and their potential paths to partnership and promotion. Will they provide a stable foundation for you?

  • Lost skills. Leaving too soon also means that you may be giving up valuable opportunities to learn new skills or specialize in a certain area. It’s important to self-reflect and identify if simple impatience may be at the heart of your discomfort.

  • Benefits. Do your research. Are there any benefits that you currently have that you would miss? What are the tradeoffs—think deeply about what you gain and what you lose.

  • Partner Track. What is the current path to partner at your firm? Is the process and path as transparent at the firm you’re thinking about switching to? Look for transparency with this process if you’re thinking about leaving.

Key takeaways

Nothing hurts worse than losing something or giving something up only to realize how good you had it. If you think it might be time to make a move, take a minute to outline your motivations and expectations.

Plans that might help you

Planning for the next step

Work is not just your livelihood but also a major component of your life. Take care when making big career choices and you will be more likely to realize benefits to both. We’ve collected a few materials to help evaluate your insurance needs.

Resources that might help you

Moments That Matter