Quitting my $80,000 Big 4 accounting job

Leo Baek

29 Dec 202308:15

Summary

TLDRIn this heartfelt video, the creator announces their decision to leave their stable job at a big four accounting firm to pursue content creation and explore personal business ventures. Despite the risks and uncertainty of 2024, they express gratitude for the supportive work environment and the lessons learned during their two-year tenure. With a plan to balance part-time work and creative endeavors, they aim to inspire others to take risks and follow their own paths, showcasing the importance of self-belief and the courage to embrace new challenges.

Takeaways

🎓 The speaker has decided to quit their job at a big four accounting firm after much thought.
🏢 The decision is effective on December 15th, 2023, and involves giving a two-week notice to their manager.
🔍 The speaker is leaving without having another job lined up, intending to explore different interests and business ventures in 2024.
💼 The speaker appreciates the people and culture at the firm, acknowledging that the work environment was positive despite the job not being a good fit.
📚 The speaker has learned a lot during their two years at the firm, but the work itself was not fulfilling due to its compliance-heavy nature.
🚀 The speaker is motivated to pursue content creation and online business ventures, aiming to diversify their income sources.
💪 The speaker plans to work part-time jobs initially to support themselves financially while they build their content creation and business efforts.
🌐 The speaker is confident in their ability to succeed in their new ventures, despite the risks involved in leaving a stable job.
👨‍👩‍👧‍👦 The speaker is currently at a point in life with minimal responsibilities, making it an ideal time to take risks and pursue their passions.
🙏 The speaker has received support and blessings from friends and family, which strengthens their resolve to embark on this new journey.

Q & A

Why is the speaker leaving their job at the firm?
-The speaker is leaving their job because they feel it's not the right career path for them. They want to explore different interests and work on business ventures.
What is the speaker's plan for 2024?
-The speaker plans to explore their interests, focus on content creation by releasing two videos a week, and create different sources of income through online businesses.
How does the speaker feel about the work culture and people at the firm?
-The speaker appreciates the work culture and people at the firm, stating that it was the best part of the job and they made the right choice in joining the group.
What was the speaker's initial reason for staying at the firm?
-The speaker initially stayed at the firm because it provided stability and made their parents happy. They also pursued a CPA license and tried to adapt to the job.
What aspects of the job did the speaker dislike?
-The speaker disliked the compliance-heavy nature of the work, which involved a lot of laws and precise calculations. They also lacked interest in improving at these tasks.
How does the speaker feel about the decision to quit their job?
-The speaker acknowledges that quitting a stable job might seem reckless, but they feel confident and are ready to take the risk, believing it's the right time to pursue their passions.
What is the speaker's plan for generating income after quitting their job?
-The speaker plans to work part-time jobs initially, starting with at least 3 days a week, and may increase to 5 days a week if needed to cover bills and rent.
Why does the speaker feel now is the right time to take this risk?
-The speaker feels it's the right time because they have the least amount of responsibilities at the moment, such as no family obligations, and they believe the risks will be higher later in life.
What support does the speaker have from friends and family?
-The speaker has the support of their friends who believe in them and their decision, and they also received a blessing from their mother despite her worries.
What is the speaker's ultimate goal with their new venture?
-The speaker's ultimate goal is to create content that inspires, rejuvenates, and helps people, while also finding more fulfillment in their life.

Outlines

00:00

🌟 Resignation from a Big Four Accounting Firm

The speaker announces their decision to leave their job at a Big Four accounting firm, a decision made after much contemplation. They plan to give their manager a two-week notice on December 15th, 2023. Although they have no concrete plans for 2024, they intend to explore various interests and business ventures. The speaker expresses gratitude for the learning experiences and the camaraderie they've enjoyed during their two-year tenure, but acknowledges dissatisfaction with the nature of the work, which they find compliance-heavy and lacking personal interest. They reflect on their career choices, realizing they became complacent and did not prioritize their own goals, leading to their decision to quit and pursue a different path.

05:03

🚀 Embracing the Risk of Entrepreneurship

The speaker outlines their plan to pursue content creation and online businesses full-time in 2024, despite the risks involved in leaving a stable job. They intend to work part-time jobs to cover their basic needs while dedicating the rest of their time to building their own ventures. The speaker acknowledges the support from friends and family, particularly their mother's blessing, which, although fraught with worry, allows them to take this bold step. They consider their current age and lack of responsibilities as an opportune moment to take risks and are motivated by the desire to inspire others to chase their dreams. The speaker invites viewers to follow their journey, promising to deliver content aimed at inspiring and rejuvenating their audience.

Mindmap

Keywords

💡Quitting

Quitting refers to the act of leaving a job or position voluntarily. In the context of the video, the speaker has decided to leave their job at a firm, which is a significant decision that sets the theme of change and personal growth. The script mentions, 'today's the day I'm going to give my manager a call right now and let him know I'm quitting,' illustrating the speaker's commitment to this life change.

💡Big Four Accounting

Big Four Accounting refers to the four largest international professional services networks that provide audit, assurance, tax, consulting, financial advisory, and risk advisory services. The speaker mentions being at a 'big four public accounting firm,' indicating a high level of prestige and stability in their previous employment, which contrasts with their decision to quit.

💡Compliance

Compliance in a professional context often means adherence to rules, regulations, or laws. The speaker expresses dissatisfaction with a job that is 'very compliance heavy,' suggesting that the nature of the work involved following strict guidelines, which did not align with their interests or career aspirations.

💡Content Creation

Content creation is the process of making and publishing digital media content, such as videos, blogs, or podcasts. The speaker's plan for 2024 includes 'going all in on content creation,' indicating a shift from traditional employment to a more entrepreneurial and creative path, aiming to produce videos and build an online presence.

💡Risk

Risk is the possibility of an event occurring that will have a negative impact. The video's narrative revolves around the speaker taking a risk by leaving a stable job to pursue interests and ventures without a guaranteed income. The phrase 'life's about taking risks' encapsulates the core message of embracing uncertainty for potential personal fulfillment.

💡Career Path

A career path is the trajectory of an individual's professional life and the sequence of jobs they may hold. The speaker reflects on their 'career path of doing taxes and accounting' and decides it is not the future they envision for themselves, leading to the decision to quit their job and explore other interests.

💡Stability

Stability in this context refers to a steady, secure, and predictable state, often associated with long-term employment. The speaker initially sought stability, as indicated by 'I focused on stability,' but later realizes that it came at the expense of personal fulfillment and career satisfaction.

💡Work-Life Balance

Work-life balance is the equilibrium between an individual's work responsibilities and personal life. The speaker considers finding a job with 'more work-life balance' if their part-time work and ventures do not suffice, highlighting the importance of a balanced life in their decision-making process.

💡Responsibilities

Responsibilities are duties or obligations that one is expected to fulfill. The speaker feels that at 24, they have 'the least amount of responsibilities,' which is a strategic time in their life to take risks without the weight of additional obligations, such as a family or dependents.

💡Inspiration

Inspiration is the process of being motivated or influenced by someone or something. The speaker hopes that by sharing their journey, they will 'Inspire others to do the same,' indicating a desire to positively influence others to pursue their own paths, even if unconventional.

💡Fulfillment

Fulfillment refers to the state of being satisfied and happy, often as a result of achieving one's goals or finding meaning in one's work. The speaker seeks 'more fulfillment in my life,' which is a driving factor behind their decision to leave their job and pursue new ventures.

Highlights

The speaker has decided to leave their firm after a long period of consideration.

This will be their last day in the office.

The speaker plans to quit their job and give two weeks' notice.

No concrete plans for 2024, but an intention to explore different interests and business ventures.

Appreciation for the company's culture and the people, despite issues with the work itself.

The speaker feels they made the right choice in joining the company, despite the decision to leave.

Acknowledgment of the difficulty in deciding to leave due to positive experiences with the group.

The speaker's dissatisfaction with the compliance-heavy nature of their work.

A lack of interest in improving at the job, indicated by imagining a future in the same career path.

The realization that the current job is not aligned with the speaker's long-term happiness.

A general plan to explore interests and create content in 2024, despite the risk.

Content creation and online business ventures are the new focus areas.

The speaker plans to work part-time jobs to support their new ventures.

A willingness to adjust the work schedule based on the financial situation and energy levels.

The speaker is 24 and feels this is the best time to take risks due to minimal responsibilities.

Support from friends and family, including the speaker's mother, is acknowledged.

The speaker's mother, despite her worries, has given her blessing to pursue the new path.

The speaker's intention to inspire others through their journey.

A call to action for viewers to follow the speaker's future content and progress.