The Fundamentals of Career Progression in Accounting
Early in an accounting career, progression often feels like a mystery some people move up quickly, while others seem to stay in the same role for years. But in reality, promotions and pay increases are not random. They are closely tied to the value you bring to your employer and how your skills align with what the organization needs.
In this post, we’ll explore how career progression works in public accounting versus industry roles, what skills drive advancement, and how to actively shape your professional path.
Defining Career Progression
Career progression in accounting is more than just moving from Staff to Senior, Senior to Manager, and so on. It represents growth in three key areas:
Authority – gaining decision-making power and influence over outcomes.
Responsibility – managing more complex work, larger clients, or bigger teams.
Strategic Impact – contributing to the success and direction of the firm or company.
While titles and pay matter, the real measure of progression is how much value you can deliver—and how well that value matches what your employer cares about most.
What Drives Promotion and Pay Increases?
Public Accounting
In public accounting, career advancement often hinges on three core factors:
Technical Mastery – Staying ahead in accounting standards, tax laws, or audit practices. Clients hire firms for expertise they don’t have internally.
Client Service Skills – Serving clients well means keeping them happy, bringing in repeat business, and expanding service opportunities.
Delegation and People Management – Firms operate on a leveraged model. Success means training juniors effectively while delivering high-value work at higher levels.
Industry
In industry, promotions are less tied to an annual cycle and more to the value you can bring through operational improvements:
Operational Efficiency – Streamlining processes and improving accuracy in financial reporting.
Cost Savings & Business Impact – Helping the company cut costs, improve cash flow, or make more informed financial decisions.
Cross-Department Collaboration – Working with operations, IT, or sales to solve financial challenges beyond the accounting department.
Public vs. Industry – Short- and Long-Term Career Impact
Many professionals wonder: Should I start in public or industry?
Public accounting often functions like a boot camp for early-career accountants. The pace is fast, the learning curve is steep, and exposure to multiple clients and industries builds a highly transferable skill set. Some recruiters even suggest that one year in public can be equivalent to two years of industry experience in terms of growth.
Industry offers stability and the chance to go deep on a single company’s financial operations, but promotions may not follow a set timeline unless you take initiative—or work at a large company with constant upward mobility.
A balanced approach? Many professionals start in public to develop foundational skills, then transition to industry once they’ve gained enough experience to step into more senior roles.
Skills That Carry Long-Term Value
While skills overlap, the emphasis differs:
Public Accounting: Multi-client management, technical research, and delivering value under tight deadlines.
Industry: Operational accounting, ERP system expertise, budgeting, and internal process improvement.
The key? Identify which skills your employer values most and double down on those to remain promotable.
Career Progression: Norms and Exceptions
Most public accounting firms have clearly defined promotion tracks, staff to senior in 2–3 years, senior to manager in another 2–3. But exceptions exist. Some firms keep staff in place longer or promote based on firm needs rather than personal performance.
Industry can be less predictable. Smaller companies may offer limited upward movement, while Fortune 500 firms may provide broader mobility and formal promotion paths. Knowing your company’s structure helps you set realistic expectations.
How to Actively Shape Your Career Progression
Promotions don’t just happen—they’re earned through intentional career planning. Here are key steps:
Align Skills with Employer Needs – Focus on the competencies your company values most. If your firm rewards client development, work on relationship-building. If industry values automation, learn tools like Power BI or SQL.
Pursue Growth-Oriented Roles – If your current employer doesn’t support the skills you want to develop (e.g., advisory services), consider a move to one that does.
Seek Feedback and Mentorship – Regularly ask where you can improve and what skills will make you promotable.
Take on Stretch Assignments – Volunteer for projects outside your core role to demonstrate initiative and broaden your experience.
Final Thoughts
Your career progression is not just about working hard, it’s about working smart, aligning with organizational needs, and making deliberate choices to develop valuable skills. Whether you’re starting in public, industry, or switching between the two, the key is to know where you want to go and ensure your environment supports that journey.