The Hidden Costs of Staying in a Public Accounting Firm Too Long

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The Hidden Costs of Staying in a Public Accounting Firm on Your Career

I spent nearly a decade in a regional public accounting firm, doing what so many CPAs are taught to do - work hard, put in long hours, climb the ladder. I was told that if I stick it out, I'd be rewarded with a higher salary, a prestigious title, and long-term job security.

But what no one talks about are the hidden costs of staying in a public accounting firm -the things you lose by staying in a system that often demands more than it gives back.

By the time I left, I had given up more than I realized - my health, my time, my peace of mind. If you've been wondering whether you should stick it out in a public accounting firm or make a change, this post will help you weight the costs you might not even be considering.

The Cost of Burnout

For years, I told myself that burnout was normal. That exhaustion and anxiety were just part of the job.

I worked 10 months of overtime a year, skipped vacations, and spent weekends catching up on work. My sick days went unused because I felt guilty taking them. The firm had high turnover, which mean every time someone quit, I absorbed their workload - without additional pay or recognition.

But here's what I didn't realize at the time: burnout isn't just a temporary feeling. It takes a real toll.

The hidden costs of burnout:

Declining Physical Health - Constant stress can lead to headaches, digestive issues, high blood pressure, and even long-term health problems.
Mental Exhaustion - Feeling trapped in a cycle of overwork leads to anxiety, depression, and lack of motivation.
Lost Passion for Your Work - When you're constantly overwhelmed, even the work you once loved can start to feel like a burden.

I ignored the warning signs for years, thinking I just needed to push through. But the longer I stayed, the worse it got.

The Cost of Career Stagnation

One of the biggest myths in public accounting is that if you work hard, you'll eventually be promoted, make partner, and be set for life.

That wasn't my reality.

I went from staff accountant to senior accountant after four years - not because my work suddenly improved, but because I asked for a promotion. Even then, it came with a title change, but no salary increase. Later, I was given the role of manager when it was convenient for the firm.

And when I was finally offered a chance to become partner? The firm made me wait months without a clear compensation package or defined expectations.

The hidden costs on your career:

Limited control over promotions and salary - Many firms delay raises and promotions as long as possible, even when employees take on more work.
Rigid career paths - If your firm doesn't promote you, you're stuck waiting for an opportunity that may never come.
Lack of transferable skills - Many CPAs in public accounting don't realize how limited their experience is until they try to transition to a new role.

I realize that staying at a public accounting firm wasn't helping my career - it was holding me back.

The Cost of Lost Time

I'll never forget the year my Mom was diagnosed with cancer. It was right before the busiest part of audit season, and I felt trapped. I wanted to go visit and take her to her doctor's appointments, but I had deadlines to meet, clients waiting, and a full workload that no one else would pick up.

So, I kept working.

That moment made me question everything. What was the point of putting in all this time, all this effort, if I couldn't even be there for my family when it mattered most?

The hidden costs of public accounting on your personal life:

Missed family events, vacations, and holidays - Busy seasons take priority over everything else.
Strained relationships - Working long hours affects time with your spouse, kids, and friends.
No flexibility when life happens - Personal emergencies take a backseat to client deadlines.

Being part of a firm doesn't just take your time - it takes control over your schedule. And that's something you can't get back.

The Cost of Financial Limitation

It's easy to assume that staying at a public accounting firm will lead to financial security. But what if that's not true?

Most CPAs in firms are underpaid relative to their value. They work long hours, generate high billable revenues, and receive only a fraction of what they bring in for the firm. Meanwhile, firm partners take home the biggest share - leaving staff and managers undercompensated for the time they put in.

When I left my position at a public accounting firm, I expected a financial setback. Instead, my income increased because I finally had control over my pricing and workload. By the second year of building my firm, I had scaled to a point that I was generating more income than my prior salary - working fewer hours than I did before.

The hidden costs on your finances:

Earning less than your worth - Your salary is determined by the firm, not by the value you provide.
Limited income growth - Raises and bonuses often don't reflect your actual contributions.
Higher earning potential elsewhere - Running your own practice or transitioning to industry can lead to greater financial rewards.

If you're staying at a public accounting firm because you think it's the safest financial path, it might be time to rethink that assumption.

Should You Stay or Should You Leave?

If you're reading this and recognizing these hidden costs of public accounting in your life, it might be time to ask yourself a tough question:

Is staying worth it?

For me, the answer was no. I walked away, started my own firm, and built a practice that aligned with my values, lifestyle, and financial goals. And I've never looked back.

If you're feeling stuck, I want you to know there is another way. You don't have to accept burnout, career stagnation, or financial limitation as the price of being a CPA. You have options.

And if no one else has told you this yet - you deserve better.

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