Hi All - I’m a 32 year old single CPA living in a very low cost of living city and am looking for some career advice. I worked at a top 20 firm for 7.5 years. Started at $48,000 in 2016 and left in 2023 at $120,000 plus $6,500ish in bonuses. I wanted to change things up as I was burnt out and didn’t particularly like working for my boss, so I left and went to a small (top 150) firm at a salary of $125,000 plus $20,000 sign on bonus, which later increased to $130,000 and I got another $5,000 in performance bonuses. They changed the program to be 10% for this year so I’m expecting a $13,000 bonus if I stay on.
I’ve been at the new firm for 1.5 years and it’s a great firm but it’s too small for me from a culture and client mix standpoint. I have amazing work life balance though….Fridays off May 1 through November 30 and super low stress which I wonder if I’m crazy about giving up. I also see there being a lot of opportunity from a business development standpoint, but my worry is by the time we get big clients in the door I’ll have lost a good portion of my knowledge. I know I’d definitely make Partner at this firm in the next 2-3 years too if I buckle down and embrace the small firm client mix.
Based on the above, I decided to reach out to a few connections of mine in the niche industry I used to work in. Ended up getting a few offers, the most attractive being $175,000 base plus a $20,000 sign on bonus and 7.5% performance bonus opportunity. It would be a lot more work, both from an hours perspective and complexity, but also should set me up for better jobs down the line…this would come with stress too. The most notable difference in benefits is both firms I’ve been at thus far had 6% profit sharing and this one only has a 3% match.
I’ve been maxing my 401K, IRA and HSA for years and at this point I have about $2-3,000 left over every month after buying/doing everything I want and desire in life. It’s all going into my taxable brokerage with a mix of VFIAX and VMFXX. With my quarterly bonus payouts I’ve saved $24,000 in these accounts this year already. The raise and sign on bonus I’d get by going to the new firm would go straight into my taxable brokerage too so I’m figuring I’d be pushing about $60,000-70,000 total at the higher salary.
Anyone ever been in a situation like this before? Any advice or thoughts on my situation?
I’ve been at the new firm for 1.5 years and it’s a great firm but it’s too small for me from a culture and client mix standpoint. I have amazing work life balance though….Fridays off May 1 through November 30 and super low stress which I wonder if I’m crazy about giving up. I also see there being a lot of opportunity from a business development standpoint, but my worry is by the time we get big clients in the door I’ll have lost a good portion of my knowledge. I know I’d definitely make Partner at this firm in the next 2-3 years too if I buckle down and embrace the small firm client mix.
Based on the above, I decided to reach out to a few connections of mine in the niche industry I used to work in. Ended up getting a few offers, the most attractive being $175,000 base plus a $20,000 sign on bonus and 7.5% performance bonus opportunity. It would be a lot more work, both from an hours perspective and complexity, but also should set me up for better jobs down the line…this would come with stress too. The most notable difference in benefits is both firms I’ve been at thus far had 6% profit sharing and this one only has a 3% match.
I’ve been maxing my 401K, IRA and HSA for years and at this point I have about $2-3,000 left over every month after buying/doing everything I want and desire in life. It’s all going into my taxable brokerage with a mix of VFIAX and VMFXX. With my quarterly bonus payouts I’ve saved $24,000 in these accounts this year already. The raise and sign on bonus I’d get by going to the new firm would go straight into my taxable brokerage too so I’m figuring I’d be pushing about $60,000-70,000 total at the higher salary.
Anyone ever been in a situation like this before? Any advice or thoughts on my situation?
Statistics: Posted by malibuboats91 — Fri Jun 28, 2024 8:07 pm — Replies 0 — Views 179