The top things that you should look for when reviewing different companies that you’d like to work for include the pay and benefits that you’ll receive upon hire, the company culture, and the potential for career growth. If you can find a company that gets it right in these three areas, then you’re on your way to having the tools necessary to have a happy and successful career.
Pay & Benefits
For accounting careers there is a very wide range in pay scales depending on a number of factors. It’s important to educate yourself on what ranges you should expect so that you can not go into a job interview with the wrong expectations. Plus, knowing what range to expect can also help when it comes down to negotiating that salary.
I’m not going to go through specific numbers here, as it would be hard to accurately predict what that range should be for you, but I can give some tips on how to go about getting the best information. One of the most popular ways is to go to sights like glass door or indeed. But I’ve noticed that even these sites can be misleading sometimes. Often this information is outdated or there might not be enough data to support your specific circumstances, but I do think it’s a great place to get started.
However, the best place to understand salary and benefits is to try and find those in your field that you might already know and be willing to ask them if they feel comfortable telling you their pay. No everyone will agree, but you’d be surprised that it is way more common now then it used to be to share that info with others and the information I’ve personally gotten from other professionals in my field with this has been the most valuable to making those decisions.
With that being said, I’d like to share what factors may affect those pay ranges during research.
Factors That Effect Pay
So the first factor to consider is that of location. Living in a small town in Wyoming is going to be very difference then living in L.A. or New York. One mistake I often see is people looking at salaries of those who actually work in completely different cities, states, or even countries.
Secondly, is education. Not all accounting jobs require the same level of education, but even if they don’t require it, having it anyway could mean a higher wage. Having a bachelor’s degree vs. a master’s degree will make a difference. Having a CPA license is also a plus. Education can be a great negotiation tool if you have something that other applicants don’t. And of course those jobs requiring higher education will also most likely be the ones that pay more.
Another factor is going to be the size of the company. For example, if you plan on taking a job with a public accounting firm, there will be a difference in pay if you work for a small local accounting firm run by mom and pop, vs a more regional firm, national, or international firm with many employees and resources. In my experience, larger firms tend to offer better pay then smaller firms, although that is not always the case. This also goes for individual companies. Are you looking to work for a small start-up? Or maybe a large corporation? The pay will be very different for both. That also goes for the benefits. Again, generally larger companies will have access to cheaper healthcare for example, because they get better rates for having more employees.
Lastly, the type of role will also matter. Working as an accounts payable clerk, a staff accountant, a controller, CFO, Auditor, Internal Auditor, Tax Staff, etc. will come with different salary ranges as well.
So make sure you take into consideration the type of role your looking for, the size of the company, your own education and other qualifications, and the location of where you want to work in order to get a better understanding of what pay and other benefits are available to you.
Company Culture
The next important to consider when choosing a company to work for is the company culture. When going through the interview process it can sometimes be difficult to assess a company’s culture. Sometimes job candidates will come out and ask that question on what the culture is like, which is quite frankly a terrible question as it is rather vague and in my experience doesn’t result in any enlightening or genuine answers from those doing the interviewing. But, there are other questions that you can ask.
One way to assess a company’s culture is to ask them about events and company traditions they might have. For example, maybe they have weekly or monthly happy hours. Maybe they have a yearly family event each year or a company retreat of some kind. Those are some of the things that make up culture. Another way to assess culture is to ask about the dress code. Is it professional dress? Business casual? How you dress can have a huge effect on the vibe of an office.
What about lunch? Yes, lunch. Do people sit alone at their desks scarfing down a sandwich before going back to work? Or is it common to see people in the office going out in groups to lunch on a routine basis? This could speak to stress levels and comradery within a company.
Another factor to consider in our post covid world is work from home arrangements. Is everyone expected to be in the office every day? Is working from home normal? Maybe a hybrid approach? If people are in the office, is the office really have a quiet working environment or is it filled with noise and conversation, either or having it’s perks and set backs. If the company has remote work, how do people communicate with each other on a day to day basis?
These are just a few things to consider that impact company culture and policies which will be important benchmarks in determining if a company is a good fit for you. Work is where we tend to spend the most time at, therefore, it’s important to know the types of people and situations that we will be put in.
Career Growth
Lastly, let’s talk about career growth. Most people do not want to be put in the same spot with the same responsibilities for the rest of their lives. People generally want opportunities to grow. They want opportunities to learn new things, challenge themselves, and receive recognition for their efforts. One of the quickest ways to become unhappy with a job is to feel trapped. Maybe that’s why you might be considering a new job in the first place. Therefore, look for a company that offers plenty of ways for new learning opportunities, and upward mobility. Some accounting careers make this easy. In public accounting for example, the expectation is that every couple of years you will be promoted based on years of experience and technical abilities. There is usually always room for one more to climb the ladder. However, some accounting positions require someone to leave before there is an opportunity to move up. Even if a company doesn’t have an easy path to grow through a promotion, that doesn’t necessarily mean there are no opportunities for growth. For example, maybe a company will offer to help pay for additional schooling or certifications that can be used in that company or for a future job elsewhere. Maybe a company has managers who are willing to give you more responsibilities and you show that you’re able to handle them. Maybe, you pick a job with a company that is expanding and growing rapidly, and there will be new opportunities due to that growth within the near future. Career growth comes in many shapes and sizes, so look at what opportunities there might be for you at wherever you apply to work.
Be Smart. Be Happy.
Choosing a company to work for is an important step and one of the biggest decisions that affect our daily lives. Consider the pay and benefits, company culture, and growth opportunities when waying different job offers, or even before applying. Be an informed decision maker on what to expect based on the type and location of the role you want, and most importantly, be happy and excited for the journey, wherever it takes you. Best of luck!