For many in public accounting, April 15 (or April 30) marks the end of the “annual ordeal” – a stretch defined by long hours and tight deadlines. Some CPAs emerge proud of what they’ve accomplished. Others are focused on getting some much-needed rest.
Given the sheer pace and volume of work, once the dust settles, some tax and audit professionals are left thinking: I can’t face another busy season.
Staff attraction and retention is a well-documented, industry-wide challenge. Many CPA firms experience average annual turnover rates of +25% – over double the national average of 11.6%.
As recruiters who specialize in public accounting, we speak with CPAs every day. We know how busy season can push even the most experienced professionals to consider a change – sometimes toward roles in private industry. And some make that move and never look back.
But we also see the other side: CPAs who leave public accounting only to return, missing the variety, challenge and clearer progression it can offer.
Industry vs. Practice: What’s the difference?
When CPAs talk about “going to industry” they’re usually referring to a move into private accounting – taking on an in-house role within a company’s finance or accounting team.
By contrast, public accounting involves working for a firm that provides services such as tax, audit or advisory to external clients across industries. It’s typically a client-facing, deadline-driven environment that offers broader exposure and steeper learning curves, especially early in your career.
While every firm and company has its own culture, private industry is generally seen as offering greater flexibility and more predictable hours. Public accounting is known for its faster pace and longer hours (especially during busy season), but also for clearer career progression and a greater variety of work.
While the hours can be demanding, many professionals see public accounting as a launchpad for accelerated learning and long-term career growth. As Paul Russo, CPA, CFE, puts it – “People who put in those years, and who work on engagements and rack up billable hours, will be exposed to so many more things than someone at the junior associate level who comes in for a year or two and leaves for private. […] In terms of the learning curve, I was able to learn my industry, my job, and public accounting exponentially quicker than if I had gone into private industry.”
That perspective is echoed in the broader CPA community. As one Reddit user wrote on r/Accounting: “If upper management is your goal, public accounting will make that goal far more easily attainable and at a far quicker rate.”
The salary gap also plays a role, public accountants report an average annual salary of $81,814, compared to $68,326 for those in private.
The allure and pitfalls of private industry
A report titled “The Culture Conflicts” from the Illinois CPA Society (ICPAS) identified a lack of work-life balance as a primary driver behind departures from public accounting.
“Accounting firms have been espousing work-life balance for decades, but many fail to live up to expectations,” says CPA Scott MacEachern.
So it’s no surprise that, after busy season, some CPAs and tax professionals begin weighing up a move. As Sholly Nicholson, Director of HR at Sensiba San Filippo, explains, CPAs often move to in-house roles believing they’ll “make more money while working fewer hours.”
But it’s important to recognize that private roles can come with their own demands. While there may be less travel and fewer client meetings, that doesn’t always translate into a lighter workload or more structured schedule.
Anecdotally, we’ve spoken to a number of CPAs who left public for private, only to later return. Why? Simply, they missed the variety of work, interacting with clients, being a proactive problem solver and the stronger sense of camaraderie.
Interestingly, the idea that most CPAs leave public accounting for industry isn’t supported by recent data. A recent survey by ICPAS found that only 23% of respondents moved into private business roles and just 1% left the profession entirely. The largest group, 62%, moved to other CPA firms.
As Geoffrey Brown, president and CEO of ICPAS summarized – the data challenges a common perception. Many people believe that most accountants spend “3, 4, 5 years in public accounting and then go to where the grass is greener – to corporate finance and business and industry – and that’s not necessarily the case.”
So what’s driving the moves? When asked to select their reasons for leaving a role from a list, the most commonly cited were:
- Salary (49%)
- Burnout/heavy workload (49%)
- Lack of work-life balance (48%).
These findings reflect what we hear every day: for many CPAs, it’s not the profession they want to leave – it’s their current environment.
Not all firms (or busy seasons) are created equal
Despite genuine efforts by many firms to improve the experience, busy season can still bring long hours and intense pressure. But it’s important to recognize that not all CPA firms – and not all busy seasons – are the same.
Culture, workload expectations, leadership style and support systems can vary widely. Some firms prioritize output over employee wellbeing. Others are actively rethinking how they support their teams, during busy season and beyond.
Here’s what we consistently see at firms that are getting it right:
- Sustainable workloads year-round: These firms plan ahead, manage client expectations, and structure workflows to prevent burnout. Some cap busy season hours at 55 and non-peak hours at 40. Others give time back – like Fridays off during the summer – to recognize the intensity of peak periods
- People-first leadership: Supportive leaders make a difference. They check in, offer mentorship, listen to feedback and create space for honest conversations
- Real flexibility: Remote and hybrid arrangements are increasingly common, along with flexible working hours. We regularly work with professionals – including parents – who need to navigate school runs or adjust their schedules. The best firms recognize this and focus on outcomes. They trust their teams to deliver while respecting that life doesn’t stop outside of work
- Clear growth paths: Promotions, raises and development opportunities shouldn’t be mysterious. Leading firms make expectations transparent and provide the support to help you advance
- Strong, values-driven culture: Culture isn’t just about office snacks and holiday parties. It’s about trust, respect, communication and how a firm responds when things get hard (e.g. during busy season).
Public accounting doesn’t have to mean burnout and you shouldn’t have to compromise your personal life to stay in the profession. As Nicholson points out – “before heading for the hills and leaving public accounting altogether, I’d suggest doing a little research. Each firm is quite different and operates under a different set of values as well as culture.”
For some, a move to private industry or corporate finance is absolutely the right fit. But for many others, the work-life balance they’re seeking is still possible – it may just take the right CPA firm to provide it.
If you’re looking for honest, no-pressure advice on what’s genuinely achievable when it comes to firm culture and working practices, our team is here to help. Reach out to us at [email protected].
