Busy Season is Less Taxing with Smaller Firms
Busy Season is Less Taxing with Smaller Firms
The tax season can be one of the most challenging times of the year for tax professionals. The high volume of work, excessive hours, and tight deadlines can lead to stress and burnout. This year’s tax season was especially busy due to a combination of factors, including staff shortages and a CRA strike. If you are in tax and are feeling overwhelmed or burnt out from a particularly challenging busy season, now is the time to start exploring some new opportunities in the market. Fortunately, the grass is greener.
Tax professionals are in high demand. It is a candidate-driven market and some employers (especially within some of the larger public accounting firms) have capitalized on the shortage. Mass layoffs during the pandemic and inflated salaries have further warped the tax market. Unfortunately, despite significantly above-market compensation plans, the hourly expectations are enormous for these professionals. You might be in a position where your annual salary is higher than that of your peers but could come with many more hours.
There is a very exciting market of new opportunities with mid-sized public accounting firms and roles outside of public accounting entirely. Smaller firms are offering competitive salaries, retention plans, faster growth and advancement, and much better work-life balance. Industry roles can offer a more stable work-life balance with fewer deadlines and less pressure. It can also provide an opportunity to work with a specific industry that you may be passionate about.
If you’re feeling burnt out from tax season, take some time to evaluate your options and determine what you are looking for. Consider your work-life balance, the type of work you enjoy, and what type of culture you thrive in. Is this where you want to be for another tax season? If not, now is the time to start looking. If you are keen to advance your career, discuss the market, or are just interested in keeping your options open for the future, let’s connect. You can reach me by email at zane@winchesters.ca or directly at (416)-543-0855.
