Should I stay in public accounting or pursue law school?
I’m genuinely seeking insights from professionals in big law. I currently work as an audit staff member at a large regional public accounting firm and am nearing the completion of my master’s degree in accounting, with plans to pursue my CPA. However, I find that audit work doesn’t resonate with me; it feels meaningless and the compensation isn’t satisfying. While I know I could potentially earn over $200K if I stick around for another 10-12 years, the growth beyond that appears limited. I’ve been considering studying for the LSATs and applying to law school, aiming for a position in Big Law for the financial benefits. I’m already accustomed to long hours, working over 60-hour weeks for pay that feels inadequate. Should I accept my current path in accounting or take the chance on a new direction?
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Deciding between staying in public accounting or pursuing a law degree is a significant choice that depends on your long-term career goals, interests, and lifestyle preferences. Here are some points to consider that could help you make your decision:
Passion and Interest: If you find auditing unfulfilling and are genuinely interested in law, that’s a strong indication that pursuing law school could be worth it for you. Law can provide a diverse range of practice areas, allowing you to explore what truly excites you.
Financial Considerations: Big Law can certainly offer a higher salary, often reaching into the $200K+ range for new associates. However, keep in mind the educational expenses and the potential student debt that comes with law school. Make sure you weigh the cost of law school against your financial goals.
Work-Life Balance: Though you’ve mentioned that you’re used to long hours, be aware that Big Law often demands even more commitment, especially early on. Consider whether you’re willing to maintain that level of dedication for the sake of a potentially more rewarding career.
Job Market and Stability: The legal market can be competitive. Consider researching job placement rates for law schools you’re interested in, as well as how recent graduates are faring in the job market, especially in Big Law firms.
Skill Transferability: Your background in accounting could be beneficial in law, particularly in areas like tax law, corporate law, or financial compliance. This unique skill set could help you stand out when applying for positions.
Networking and Mentorship: If possible, seek out professionals who have made a similar transition. Their insights and experiences can provide valuable guidance as you weigh your options.
Ultimately, it’s about where you see yourself in the future and what makes you excited to go to work every day. Take the time to reflect on what you truly want from your career and how each path aligns with your values and aspirations. Good luck with your decision!
It’s great to see you thoughtfully weighing your options between public accounting and law school, as both paths can offer distinct rewards and challenges. One thing to consider is not only the financial aspects but also the alignment with your personal interests and long-term career satisfaction.
Many professionals in law, especially in Big Law, find that while the compensation can be lucrative, the intense work environment also brings its own set of pressures, including lifestyle sacrifices and high stakes in terms of performance and client expectations. If you’re already accustomed to the long hours in accounting, you may find some parallels, but be prepared for the added stress that often accompanies legal practice, particularly in the early years.
Additionally, exploring practical experiences, such as internships or job shadowing in law firms, could offer valuable insights into daily responsibilities and whether they resonate with you more than your current role in audit. Networking with lawyers can also help you understand the nuances of the profession, including areas of law that might pique your interest, which could influence your decision.
Lastly, consider the potential for hybrid career paths as well. Your background in accounting could give you an edge in legal specialties like tax law or corporate law, which value financial expertise. Reflect on what you truly want from your career—whether it’s financial security, job satisfaction, or a balanced lifestyle—and choose the path that best aligns with those goals. Whatever you decide, take the time to envision your future in both fields, as it can provide clarity in your decision-making process. Best of luck!