The public/private sector career choice : a study

Abstract

PURPOSE: The aim of this study is to determine the drivers that influence CPAs to prefer practice in either the public sector or the private sector. Furthermore, the study explores whether professional institutions have an effect on the career choice of warrant holders. DESIGN: The study adopted a mixed research methodology in order to collect primary data. A total of 192 questionnaires were gathered and 9 semi-structured interviews were conducted. FINDINGS: The study found that warrant holders are mainly driven by career progression opportunities and the ability to have a sense of achievement and accomplishment. Salary and Work-Life balance were important factors but not as prominent as the first two. Furthermore, the study found that the public practice offers better career progression opportunities as well as opportunities to travel. Both the private sector and governmental entities offer a high initial salary for warrant holders. On the other hand, the public service offers the best work-life balance when compared with the other sectors. Despite the fact that professional institutions influence students to enter the accountancy profession, it is not the most prominent driver for choosing the sector to work in. However, professional courses are indirectly influencing the career choice of accountancy students, as the curriculum is more oriented towards the private sector. CONCLUSION: The study concludes that the emphasis on either the intrinsic or extrinsic career factors of a warrant holder may change as one’s career progresses. Career progression, which is a leading career feature offered by public practice entities, enables such firms to attract students and recently warranted accountants. Individuals who may have financial commitments would be more willing to join firms in industry or governmental entities due to higher salaries. The study concluded that governmental entities and private firms share similar characteristics such as high salaries and both offer a random career path. The public service offers a better work-life balance for individuals who place importance in this factor. Furthermore, it was concluded that despite the fact that a new course on public sector accounting may be introduced, CPAs would prefer that the public service enhances salaries and increases opportunities for career progression. IMPLICATIONS: The study discusses the drivers that influence warrant holders to join the private or public sectors as well as the role which professional institutions play in influencing the career choice of CPAs. It is hoped that the recommendations enhance the career factors within the Public Service, as well as increasing awareness of career factors within every sector.