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September 30, 2024
If you're a corporate tax professional in the US looking for a new opportunity, you might be considering in-house positions or large firms. However, midsize tax firms should be on your radar. Here are a few compelling reasons why they could be the ideal next step for your career:
One of the most significant benefits of joining a midsize firm is the improved work-life balance. Unlike larger firms or PE-backed companies, many mid-tier firms prioritize their employees' time and well-being. They allow you to manage your workload based on your capacity, giving you more control over your schedule. It's not uncommon for professionals to make the switch from the Big 4 to midsize firms for this reason alone, seeking a healthier work-life integration without sacrificing career growth.
In-house roles can sometimes limit your scope, focusing on specific areas. On the other hand, midsize firms offer exposure to a broader range of work. You'll handle everything from private equity (PE) and venture capital (VC) fund reporting to corporate clients with complex international filings. In addition to compliance work, you'll also have opportunities to engage in advisory services. This variety not only keeps the work interesting but also helps you develop a well-rounded skill set.
Midsize firms offer more autonomy compared to their larger counterparts. You won't have to navigate the layers of corporate bureaucracy often found in large firms. Instead, the focus is on delivering quality work without the internal politics. You also have more influence over your workflow and client management. At a midsize firm, your voice is heard, and you play an active role in shaping your projects.
Growth isn't limited to just the Big 4. Many midsize firms are experiencing rapid growth, especially as clients seek more personalized service. One example is a London-based client that saw a 40% growth in just one year, with their clients actively helping to drive that expansion. The only thing holding them back from further growth is finding the right talent. This shows that midsize firms are not stagnant; they offer significant growth opportunities for professionals willing to take on the challenge.
One of the best-kept secrets of midsize firms is that they often work with clients as large as those serviced by the Big 4. However, they offer a more flexible working environment, without the layers of compliance bureaucracy that can slow things down at larger firms. In particular, much of the work focuses on PE and VC funds, with an increasing amount of advisory work. One firm is even building a dedicated advisory team to meet the growing demand.
While in-house roles have their advantages, midsize tax firms offer a unique blend of variety, autonomy, and growth potential. If you're considering a job change, don't overlook these firms. Many professionals have made the transition and have been pleasantly surprised by the differences. With better work-life balance, diverse work opportunities, and significant growth potential, midsize firms could be the perfect fit for your next career move.
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