NextGen

Mentors: Valuable Both in and Outside a Firm

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Having a mentor can make a significant difference over the course of someone’s career. Numerous academic studies have found links between mentorship and improved rates of promotion, compensation and overall career satisfaction. One 2004 study, in the Journal of Applied Psychology, used meta-analysis of existing research to reach findings that were generally supportive of the benefits associated with mentoring. While many companies have formal mentorship programs, including each of the Big Four accounting firms, what if you’re at one of the firms that don’t have one? Or what if your firm isn’t offering the type of help and support you really need? At a certain point, it might be better to look outside your company for a mentor.