Public v/s Private Accounting

According to several college professors and career services counselors, candidates seeking a career in the accounting field should start in public accounting. This career path has several advantages. Some of the advantages include high pays, more exciting and varied work, and interaction with various industries.

Usually a public accountant carries out three or four audits of companies in a year. At the same time, a private accountant only oversees cash ledgers, only one account per year. However, in the long run a private accountant career is beneficial. In private accounting, you have more control over your career. However in private accounting, the growth is slow. You have to wait for the retirement of your senior to move into his position. In public accounting, you will grow as fast as you wish.

But, everyone cannot succeed in a public accounting career. Public accountants have to travel a lot. In comparison, private accountants hardly travel. Their job is highly stable. Private accountants also do not have to think about the chargeability issue. In case of public accountants, there is a pressure to perform on billable projects. Also, private accountants do not have to take the Certified Public Accountant (CPA) examination. They do not have to go through a vigorous process of certification.