Promotability in Public Accounting
A coach ramble today on promotability!
July tends to be the month when a lot of promotions are announced in public accounting, and while we celebrate, there’s a whole other group that might be feeling frustrated or jealous right now. They did all the right things, or at least they thought they did, but they didn’t get that promotion.
As a CPA coach, one of my favorite things to do with my clients is to help them get to the next level, whether it’s going from senior manager to partner or even controller to CFO, or manager to senior manager. Why? Because I’ve been there. I’ve been in that frustrated seat.
No Bonus, No Raise
When I was a senior at Price Waterhouse, I worked multiple years of 2700 hours and got no bonus, no raise. No promotion. I’m not complaining about Price Waterhouse—I was an idiot. I was getting feedback about how I communicated with my managers and my teams, and I needed to do a better job. But I didn’t listen. I just thought I could work harder, and things would resolve themselves. They didn’t. It ended with me crying in HR as I resigned.
Take The Feedback
As I left, there was a little voice in the back of my head saying, “You’re an idiot. You weren’t listening. You didn’t take the feedback they gave you and implement it so you could get to the next level.” So, I took that lesson to my next firm and became a communication hero. I started creating detailed updates for my teams and managers. They appreciated the information and even suggested I could dial it down a bit. It clicked for me—by doing what I was getting feedback on, I could get promoted. Sounds simple, but’s not easy.
The Realization
I became coachable and it allowed me to get promoted faster than I could have imagined. From senior to partner in five years. I learned how to get promoted in public accounting, and fast. So, if you’re feeling frustrated and jealous right now, you can learn how to get promoted in public accounting too. Here are five tips to help.
Five Tips to Get Promoted in Public Accounting
- Do Not Expect a Promotion Next Year Even if you hear you’ll get it next year, don’t become complacent in your development.
- Prepare the Right Questions Firms are often bad at explaining why you didn’t get promoted. Prepare questions for those who have seen you perform to get better information. Perhaps a start, stop, continue framework:
- What should I start doing?
- What should I stop doing?
- What should I continue doing?
- Be Fiercely Coachable Seek feedback, listen, take notes, be a student of yourself and your performance, and then implement it.
- Create Evidence of Your Development If you need to get better at client service, get higher survey scores. If it’s engagement management, bump those metrics up. Show tangible evidence of your improvements.
- Rinse and Repeat Steps 2 through 4 Continue this cycle until you’ve earned your promotion. Do it at least quarterly and consistently.
Conclusion
Follow these steps and you’ll get to celebrate your own promotion. You deserve it and will have earned it.
Thanks for reading, and cheers. Doug, The CPA Coach
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