In this edition of Beyond the Numbers, Bernadette Grattan, Founder & Recruiting Director at The Resource Link, is joined by Nathan Phelps. Nathan is the Tax Director – Cost Segregation at National Cost Segregation Services.
Nathan’s journey from traditional accounting to specialized tax services offers valuable insights for accounting professionals at all career stages.
Embracing the Breadth of Accounting Careers
One of Nathan’s key pieces of advice for young accountants is to recognize the breadth of opportunities available in the field. While public accounting often dominates career discussions in college, Nathan emphasizes that there are many paths to a fulfilling accounting career.
“I wish I could have understood that the career is a lot more broad than it seems when you’re coming out of college,” Nathan reflects.
For those who may not be drawn to public accounting, Nathan’s experience proves that alternative routes can lead to exciting and rewarding careers.
The Value of Broad Experience
Nathan’s career path took him from corporate accounting in Fortune 500 companies to business consulting and eventually to cost segregation. When asked if he would have specialized earlier, Nathan highlighted the value of his diverse experience:
“Getting that experience with the big Fortune 500 company right off the bat and just the corporate accounting department was very valuable. I think it’s very valuable to get broader experience.”
This perspective underscores the importance of remaining open to various opportunities early in one’s career.
Work-Life Balance: Making Informed Choices
For many accounting graduates, the decision between public accounting and industry roles is significant. Nathan’s choice to start in industry was driven by his desire for work-life balance, especially as a new father. His experience serves as a reminder that it’s essential to consider personal goals and lifestyle preferences when making career decisions.
The Love for Accounting: Beyond the Numbers
When asked about his passion for accounting, Nathan’s response resonates with many in the field:
“It just fits with my brain and my personality… I recognize the importance of it. Businesses don’t succeed without having good accounting records. And so there’s meaning in that way. And also I just find it fun.”
His journey from personal budgeting to professional accounting highlights how the skills we develop can apply both personally and professionally.
Networking: The Key to Unexpected Opportunities
Perhaps the most crucial advice Nathan offers is the importance of networking:
“Get to know people, as many people as you can. Don’t just get in your comfortable bubble and be satisfied with it. Always, no matter what position you’re in, always try to get to know as many people as possible.”
It was through his network that Nathan discovered his current role in cost segregation, a specialized field he hadn’t previously considered.
Conclusion: Keep Your Options Open
Nathan’s career journey from traditional accounting to cost segregation specialist exemplifies the diverse opportunities available in the accounting field. His advice to young professionals is clear: keep your options open, build your network, and recognize that there are numerous paths to a fulfilling career in accounting.
Whether you’re just starting your accounting journey or considering a change, remember that the field is broad, and your unique path may lead to unexpected and rewarding destinations.
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