Long Term Public Accounting Roles
There are a select few who want to stay at the same public accounting firm for their entire career. While this is certainly not common for many reasons, it’s still important to understand the motivations behind those who actually want to stay in public accounting at the same firm for their entire careers because these people will represent someone who knows the firm incredibly well, and could be key to your success. Today, we are going to examine the long-term public accounting career roles for professionals who prefer to job hop as little as possible. Let’s jump in!
Partner
Let’s get the obvious one out of the way here: the firm partner! The goal for many starting public accountants that is only realized by a few is the end of the line for many professionals if they put in the time and effort over many busy seasons. Partners typically have the following responsibilities:
Client Relationships: Partners are the face of the firm, responsible for nurturing and expanding client relationships. They act as trusted advisors, offering strategic insights and solutions.
Practice Management: Partners oversee the firm's operations, including staffing, budgeting, and project management. They play a crucial role in ensuring the firm runs efficiently.
Business Development: Partners are actively involved in bringing in new clients and business opportunities, often leveraging their extensive network.
Mentorship: They mentor and guide junior staff, sharing their expertise and helping them grow professionally.
Firm Governance: Partners participate in decision-making processes related to the firm's direction, policies, and strategies.
Partners are the ones who really want to put in the extra work for the extra income and impact they have on their practice.
Forever Director (or other role)
Not everyone aspires to be a Partner, and that's perfectly okay. A "Forever Director" is a professional who has chosen a long-term career in a director-level role within a public accounting firm. While the idea of not wanting to progress further isn’t exclusive to directors, I have most often seen the director role be the target plateau. These directors typically serve their firm with their years of experience by providing:
Technical Expertise: "Forever Directors" are subject matter experts in their specific niche, such as tax, audit, or advisory services.
Client Service: They focus on delivering exceptional client service, managing complex projects, and providing valuable insights.
Team Leadership: While not responsible for the entire firm, they often lead teams of professionals and help them excel in their roles.
Special Projects: Directors may be assigned to special firm-wide projects or initiatives based on their expertise.
Although this person isn’t a partner, they may be able to put up with the extra hours that busy season has to offer. Some may be fortunate enough to negotiate their role and hours in light of their chosen position at the firm!
Operations
Some people reach a point where they are simply done with the client facing aspects of public accounting. If they are interested in staying at the same firm, they may consider swapping to an internal role. I've seen many public accountants shift out of audit or tax to specialty internal roles like systems manager and internal financial manager. These people are interested in supporting the business, but no longer find the right balance with a client facing role. In their new role, they tend to take on some of the following responsibilities:
Firm Administration: Operations staff manage day-to-day administrative functions, including HR, IT, finance, and facilities.
Compliance and Risk Management: They ensure the firm complies with regulations, manages risks, and maintains a safe and secure environment.
Process Improvement: Identifying and implementing operational efficiencies to enhance the firm's overall performance.
Technology Integration: Operations professionals oversee the adoption and integration of technology tools and systems.
As you can see, there’s more long-term possibilities than just being a partner at a firm. However, it’s important that you voice your preferences so that you can find a role that you want. While these types of arrangements aren’t common, they are possible! If you are dead set on staying with your public accounting firm, consider these options!