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Going from public practice into industry

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  • Sep 28th, 2017 6:12 pm
[OP]
Deal Addict
Dec 17, 2006
1783 posts
342 upvotes

Going from public practice into industry

Hey RFD!

I know the RFD community has a lot of accountants and just wanted some advice.

I have been working in public practice for 5 years now (2 at a mediums sized and remaining 3 at small firm). Most of my accounting experience is in audit.

I accepted a job offer a few days ago as a Corporate Financial Analyst in Oil and Gas industry.

I want to make sure I succeed in this role are there any tips you guys can give me? What was the biggest adjustment you had to make from public practice?

Thanks for your time guys!
3 replies
Deal Expert
Aug 22, 2011
37042 posts
23015 upvotes
Center of Universe
heat?? wrote: Hey RFD!

I know the RFD community has a lot of accountants and just wanted some advice.

I have been working in public practice for 5 years now (2 at a mediums sized and remaining 3 at small firm). Most of my accounting experience is in audit.

I accepted a job offer a few days ago as a Corporate Financial Analyst in Oil and Gas industry.

I want to make sure I succeed in this role are there any tips you guys can give me? What was the biggest adjustment you had to make from public practice?

Thanks for your time guys!
Wife left BoC to private.
Biggest change is no real fixed hours, as deadlines are not "extendable"!
Other than that, pay is better, more room for growth; with perks such as bonuses and stock options.
Sr. Member
May 24, 2007
545 posts
204 upvotes
Public sector does not equal public practice.
Deal Addict
Apr 21, 2014
2293 posts
1051 upvotes
Alberta
heat?? wrote: Hey RFD!

I know the RFD community has a lot of accountants and just wanted some advice.

I have been working in public practice for 5 years now (2 at a mediums sized and remaining 3 at small firm). Most of my accounting experience is in audit.

I accepted a job offer a few days ago as a Corporate Financial Analyst in Oil and Gas industry.

I want to make sure I succeed in this role are there any tips you guys can give me? What was the biggest adjustment you had to make from public practice?

Thanks for your time guys!
I went from a large public firm (PwC) to industry so it may not be the same thing. The big plus for me was that I no longer had to log my hours. The most important advice I can give you is make sure you have a good relationship with your manager. When I was at the firm if I had a crap manager, I just sucked it up because I knew I would be rolling off in a few weeks. When you move to industry you have the same manager the entire time, also with that make sure you work hard to understand the role and the business. Put in more hours up front, remember first impressions matter. Also take the time to build relationships, you will be seeing the same people every day.

I have no regrets moving to industry. I think moving to oil and gas was a good move, although it's cyclical in nature, it's very specialized so you can build your career with that niche skillset. Put it this way, anyone off the street can tell you how Walmart works but not everybody knows how Oil and Gas or mining companies work. If you build your skillset in that industry you will be paid well for that knowledge, as well as paid more because of the volatile nature of the industry.

Good luck

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