People get into public practice accounting for different reasons.

Job security.

The satisfaction of working in digits all day.

Interest in money and finances.

Understanding business.

Family expectations.

For me, it was a mix of all of those things.

I had a thing for numbers.

I wanted to learn about finance and eventually own a business.

I knew accounting was a safe career path (cue Benjamin Franklin idiom about death and taxes).

I have an Asian mother…

I had no idea WTF a Debit or a Credit was, or why Assets less Liabilities = Owners Equity

I just figured that accounting would tick the boxes for me.

After 6 months of of working in public practice, I quickly understood what ‘success’ looked like in a public practice firm.

It’s all about promotions.

You started as a graduate and your goal was to get all the way to the top — to Partner.

All the way to the top

Being a Partner was the ultimate. The very definition of success.

Partners got awesome perks. Exclusive silverware laden buffet lunches, exotic corporate retreats, nice cars, 7 figure salaries.

If you made Partner — you knew you were set for life.

You were untouchable.

As a young and naive grad, I too was lured into the idea of being a partner of a firm. It’s the kind of life that one aspires to achieve. I mean, why else would you bust your ass in public practice, working longer hours and receiving dismal pay compared to your peers that jumped ship into the ‘mundane’ world of Commerce?

After several years in the profession, I decided that being partner of a firm was not what I wanted. It was not a clear cut decision at the time, and a story better saved for another blog.

I left the ‘profession’ and started my business, which was the real reason why I pursued this career path in the first instance.

Yes, I still am an accountant (and proud to call myself one). I also own a business that provides accounting services.

However, nor I, my business partner, nor any of our team members refer to the term ‘Partner’.

Why? Because we run our business as owners, not Partners.

I believe there is a subtle difference.