Which Type of Accountant do I Want to Be: Private versus Public Accounting

For all accounting majors one tough decision each of us must make before graduation is whether or not we want to work in private or public accounting. The usual question that we always bring up is which one makes the most money? Well, that question should hold little importance. The more important questions are what kind of opportunities will each career path open up in the field of accounting and whether or not you personally feel that the public accounting lifestyle is the right fit for you.

Public accounting involves the accounting work one does for another company. The “Big Four” are the most recognized companies by college students that deal with public accounting services and public accountants perform services not only for corporations but also for governments, non-profit organizations, and sometimes even individuals. Private accounting deals with internal accounting work within one company. All companies have some type of internal department and the employees who work in that department are considered the private accountants.

One common thought that majority of accounting majors think about is becoming a CPA after graduation. This plays a large part in the decisions for many of us to become public accountants. The requirements of a CPA include passing four examinations but what some accounting majors don’t know, is that you’re also required to have two years of public accounting experience with a bachelor’s degree to be licensed. However, if you graduate with a certain amount of specialized credits and pass those four examinations you would only need one year of public accounting experience to be licensed as a CPA. Private accounting experience is also acceptable but just under more constrictions than a public ...

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...ems. Private accountants look to gain much higher lever employment within their own company or another similar company.

When choosing to work towards your accounting degree there is no clear choice in becoming a public or private accountant. If you want to serve various clients and industries, public accounting is the road for you. If you’re looking to work for one particular company then private accounting may be the right option for you. You will first need to asses your skills and see if they are better suited for public or private accounting. Also, an internship is recommended before graduating. Having that internship experience will give you a better understanding of working in public or private accounting before accepting a permanent job offer. Whichever career path is right for you, public and private accounting can both be rewarding career choices.