Transition traits for US CMAs getting into Industry Accounting

Due to the unprecedented spread of COVID-19, job security has grabbed the headlines of the day. The fear has not only touched bottom level employees but also globally accredited professionals like US CMAs. As Certified Management Accountants are more demanded in the accounting industry, they face critical challenges during their career transition, especially from public accounting to industry accounting. Some of the critical challenges that most management accountants face while making career transitions in the accounting industry are-

• What is the right time to make a transition? 
• Is it good to make an early move as an associate accountant?
• What if I do not get the same managerial position in the prospective industry?

One of the potential reasons why US CMAs make a career transition from public accounting to industry accounting is mostly due to a stressless and flexible work culture environment.  Moreover, the tasks in industry accounting offer more work-life balance to Certified Management Accountants, unlike public accounting that requires its accountants to travel intensely and work incessantly.

Prioritize Goals

Management accountants while undergoing their US CMA training need to have a well-defined career path meshed with long-term career and life goals. Staying in public accounting involves a great deal of managing high-defined projects, networking with clients, and bringing home new businesses. This is not the life that you expected if you were aiming for long-term career goals, flexible work hours, work-life balance, and less traveling. So, it is better that you start reflecting on your personal goals and priorities and one best way is to take up a US CMA course that trains you for Industry Accounting.

Don’t Lock Yourself

As public accounting involves loaded responsibilities, it blocks your mind from jumping out of the box and thinking. If you want to stick around in public accounting for long, then transition might be demanding, but if you are keen on looking for a reward for the time and energy you put into accounting professionally then watch out for opportunities and keep hunting for jobs that help you progress. One way to stay motivated and reevaluate your career options, seek the advice of tailored accounting experts from the best CMA Review centers or peers about the right time to make a career transition.  

Positions Matter for CMAs

Do not leave your job until you have a relevant position that is paying. If you are planning to quit public accounting without being promoted to a manager, then you are simply losing an opportunity for career progression. Stay until you are promoted to a manager which would also help you gain valuable skills, expertise, and experience to lead a team and project. Getting a management position and leaving the public accounting field to join Industry Accounting will enhance your time management and leadership traits and also give you an edge over your salary negotiation and help you grab executive positions like CEOs or CFOs. 

Don’t accept the first Job Offers

Just because you decided to leave public accounting, you need not accept the first and best job offer coming from the industry accounting domain. Timing in career transition matters the most as it can decide your position, role, and salary in the prospective company. So don’t burn the bridge unless you cross it! This is one of the secret recipes of successful managers who see that their hard-won experience meets a bright career future. 

Consistency in Client Service

Unlike public accounting, certified management accountants need not serve long hours and multiple clientele but a single client with great efficiency throughout the circle. Industry accounting offers an instant increase of 10-20% increase in pay scale when compared to public accounting jobs along with a better work-life balance. More money, limited hours, and stock options, what more do you need to make a jump into industry accounting?