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hi everyone welcome back to my channel my name is gabrielle and i'm a tax manager at one of the big four accounting firms and today i'll be talking about a topic that a lot of you guys seem really interested in and that is what are the big four exit opportunities for tax if you find these sort of videos interesting make sure to hit that like button down below so that really lets me know that you enjoy these sort of videos and also don't forget to subscribe so that you could be notified for future videos today i'm going to be talking about three critical points in your career that could really impact your opportunities in the job market the first critical milestone in your career is the three year mark when you become a senior associate so the first two years were spent as a new associate and associate and during this time you're just studying and getting as much work experience as possible and into your third year you've written the cv which is a common final exam and you've also been promoted to a senior associate and you're well on your way to getting the enough work experience to be designated as a cpa based on my experience for the past couple years i feel that the most amount of people leave during this milestone and that is because there are so many more opportunities out there and at the same time there is a lot of flexibility in terms of what sort of rules you might want to pursue the most typical jobs that you might pursue from making that transition from public practice before to industry is usually a financial analyst position in an accounting or finance related department within a company the biggest incentive i would say from making that transition aside from the type of work you might want to pursue is definitely the pay at this point you can expect to get 10 to 25 bigger pay than what you're currently getting at the big four but keep in mind that as you move up at a big four your pay range increases might actually be greater than if you're in industry in an industry you might have started with a bigger pay but it might be snagnet for a couple years i would also say that this milestone is the best time for you to leave if you find that tax audit or accounting is just not for you and that is because at this point you have just became an accounting generalist you know a bit of tax you know a bit of audit from studying towards your cpa and those skills are not that greatly differentiated at this point it is also the best time because you're malleable to whatever rule that you might want to pursue whether that is strategy consulting financial planning and even i.t whatever path you decide to go into remember that scp designation is very valuable because it provides you with the core skills such as business acumen and problem solving that is highly recognized wherever you go and that is well respected the second key milestone is after the five year mark when you become manager as a manager you have more specialized skills in tax which makes you highly sought after in the tax world and at this point you will have a lot of recruiters head hunting you on linkedin asking you to move to other public practice firms for either higher pay or early promotion there are also jobs available in industry such as tax analysts or even tax managers which are comparable to controllers you may even go for the odd tax planning specialist position at banks and even for treasury positions these industries will tend to be much larger companies because small companies obviously won't be able to afford an in-house tax expert and i would say that pay ranges from around 100 000 to 150 000 really depends on where you live and what sort of market you're in but i would say in the market that i'm more familiar with which is the west coast of canada that's usually the range of salary while there are enough demand for tax experts out there at this point in your career i would say it's a little bit more difficult to venture out of tax but that being said it is not impossible and you could always venture out into different fields like i mentioned such as strategy or consulting or even financial planning but at this point because you're so deeply entrenched in becoming a tax specialist that in order to pursue those other roles you might have to level down a little bit just so you could pick up pace and or even get a decrease in salary and if you have more of an entrepreneur spirit within you another exit plan is to start your own firm that you know prepares tax returns or even does tax planning for small to medium-sized companies or even for individuals this is also a plus given that you know if you're pursuing an audit path it might be a little bit more difficult to set up your own firm just because of more regulations and restrictions the third milestone in your career is eight years or more as a senior manager i'm sure that you picked up on this already but as you become more and more senior in the tax practice it becomes increasingly more difficult to venture outside of tax and do something else as a senior manager you could look towards roles such as director of tax at a big company but at this point to be honest you probably stuck around so that you could look towards the partner route at a big four as a senior manager or even a director of tax you could expect salary to range from around one hundred twenty thousand dollars to two hundred thousand dollars and at this point um there isn't much incentive to look for jobs elsewhere just because salary could be pretty similar across the job market for a senior manager the real incentive lies in becoming a partner whether that is at a big four firm or even transferring to a smaller firm for higher chances of becoming a partner because the pay could jump dramatically ranging from 250 000 and then working your way up all the way to even one million dollars i'm just going to add one more bit here and that is for those who are interested in becoming a vp of finance or cfo one day in the future and as a cpa this could be totally within your realm of expertise but i would have to say that it doesn't matter whether you specialize in audit or if you specialize in tax what really matters is your experience in the broad financial knowledge that you have as well as the business itself and the operations so this probably would entail for you to you know start at a company relatively early and to make your way up just so you have that experience working in the company and really knowing the details of how the company operates also adding an mba on top of your cpa will also make you invaluable and really boost your skill sets to becoming a c suite member clearly i'm not an expert when it comes to vpr finance or a cfo but it's just based on what i've heard and based on what i've researched and if you want to know more i will link a blog post below and it's written by robert half which is the biggest recruiter when it comes to accounting and finance so take a read if you're interested that's a wrap for my video on big four exit opportunities for tax if you guys found it useful it would mean a lot to me if you guys could hit that like button down below as well as hit the subscribe button so you can be informed of future videos let me know if there are any other extra opportunities that you could come up with or even post whatever job that you would like to pursue after public practice i really appreciate you sticking around this long and thank you so much for watching i'll talk to you guys next time bye