NRR : Accounting salaries

big4 northeast was 57K starting with 3k hiring bonus but that was coming in with a Masters degree

Mr 76 wrote:

Well I'm not sure about salaries higher up but I know that at a midwest office the newest class thats being put together for next year will start off between 48k-49k (depending on the firm) with most staff and seniors being given about an 8% raise just a few weeks ago.

Also hiring goals have really shot up. The incoming class will probably be one of the bigger ones in recent years

This is exactly in line with what I know/have heard in the Midwest.

I started at EY in NYC last September at 55K. Bumped up to 60K this year.

As I understand it, employees moving up to senior got about twice that raise, depending on your performance the prior year.

eagead wrote:

Mr 76 wrote:

Well I'm not sure about salaries higher up but I know that at a midwest office the newest class thats being put together for next year will start off between 48k-49k (depending on the firm) with most staff and seniors being given about an 8% raise just a few weeks ago.

Also hiring goals have really shot up. The incoming class will probably be one of the bigger ones in recent years

This is exactly in line with what I know/have heard in the Midwest.

If you're already in the Midwest just get a transfer to my office. I need somebody to run with

lol does anyone at the big4 run?

restauranteur wrote:

Accountants, engineers, etc.... they're all taking the safe road. Maybe it's smart, but with only one bet to make, why not make the big one? We all end up in the same place anyway. Give it a shot.

I will take a guess that the poster is a runner.

Well, if what really makes your heart pound is (for example) trying to run well for a few years after college, or playing in a band, or even something mundane like raising a family well , then getting a good stable job (preferably well away from the biggest cities) which won't take up 70 hours per week forever may well be a very smart life choice that frees you to chase your dreams.

If you aren't good enough to run for money (and how many are?), you'll get better results as a runner by settling into a stable job with prospects and training patiently a couple of hours a day than you will by quitting it all and (over)training full time while you go into debt. I know because I took the wrong path after college and was outpaced my several friends who took the stable one.

I do hear horror stories about hours worked by junior accountants but am pretty sure that isn't all of them and it isn't forever. AFAICT it's not like being a Wall street trader, game programmer or junior doctor on shifts.

AFAICT ?

can anyone train hard while working at the big4?

I can get in 60 mpw working fo big4.

Did 100 one week. Its not to difficult tbh...just run at lunch and include a long run at weekend.

I'd also note that if you broke down your salary to an hourly rate, you are getting paid less working at a Big 4 than a regional firm. You work A LOT.

The benefit of working at a Big 4 is the brand recognition and future hiring potential after you leave. As far as learning goes, from an auditing standpoint, you will see more areas of an audit at a regional firm than Big 4. Where you could potentially work on one engagement all year long or only audit cash and nothing else you entire few years as staff.

It's just sad that employers don't recognize this because some of the most worthless/uneducated employees have ever seen have come out of a Big 4 firm.

ecin wrote:

The benefit of working at a Big 4 is the brand recognition and future hiring potential after you leave. As far as learning goes, from an auditing standpoint, you will see more areas of an audit at a regional firm than Big 4. Where you could potentially work on one engagement all year long or only audit cash and nothing else you entire few years as staff.

It's just sad that employers don't recognize this because some of the most worthless/uneducated employees have ever seen have come out of a Big 4 firm.

I think this is a bit harsh.

I spent 3 years at a small firm and then 3 years at a Big 4, so I had numerous discussions/debates about whether or not those of us who trained with a small firm were..more competent. Whilst the Big 4 brand name on the resume does help, I also think that, even if years 1 - 3 are spent on mundane ticking and bashing, working at a Big 4 brings far more exposure to complex technical accounting issues, more likelyhood of working on IPO's or other assurance work, and also more likelyhood of perhaps doing a secondment into Transactions/Restructuring/Corporate Finance or such like.

I'm not sure if someone that was totally worthless would ever get in the door at a Big 4. You need a solid GPA to separate yourself from the mountains of applications they receive, and chances are you need some strong extra cirricular activies as well. So I think candidates are propably fairly strong going in - whether they remain so after 2 years of auditing cash/ap as you say - thats another story.

Have you worked at Big 4?

Probably $80K/year. Which means they probably get an hourly wage slightly better than a line cook at a restaurant.

slacker wrote:

AFAICT it's not like being a Wall street trader, game programmer or junior doctor on shifts.

Traders can work regular hours (depending on what they trade) and make much more money.

I think Big4 accounting is bullshit, but is being an accountant out of college really that different from being a teacher or police officer at the same age and staying in that for your working years? Not everybody can start a band or become an actor.

I agree. Maybe a bit harsh but I still stand by what I say, although I'll agree with the more complex issues that you mentioned. But as of the last few years I think that many of the Big 4's smaller clients have been pushed down to regional firms because of their workload and this is allowing some of those issues be seen by other smaller firms. But I agree with what you are saying too. I've had some crazy experiences with Big 4 staff that probably isn't fair to put on everyone but I have seen a pattern emerging.

I'm a CPA who worked at a very small but full service CPA firm. I looked at the Big 4 CPA firms and I didn't see how they could provide the kind of experience I wanted because I never was that interested in working for Big 4 clients.

A smaller firm let me do just about everything with one small business. A compilation or review, the taxes, I would get experience communicating directly with a business owner directly instead of just another accountant in an accounting department. My bosses daughter was working as an auditor for a Big 4 and he told me she could hardly do her own taxes.

But I also just wasn't interested in the long hours of Big 4 work. I'm admittedly just not a workaholic and wasn't going to work those hours just to prove a point. But because of that dedication Big 4 workers do rightfully get a badge of honor that they can carry with them through the rest of their work life. But in and of itself I don't think the work at a big 4 firm is that special unless you advance high enough through the organization. I really think it takes extra maturity to go to work for a small CPA firm.

Here is a question for you Big 4 accountants in the US.

I worked for one of the Big 4 here in the UK, making it to Manager before moving to a job in industry. I worked very hard to make manager, consistently got great feedback, from partners and from junior staff, and as such was pleased to make manager. The same year I made manager a colleague, who was perceived to be a high flier by those above but was absolutely hated by those below as she was a b***h to work for, was passed over for manager and shortly after left the firm. From what I heard it sounds like the results of her 360 feedback were held against her and she was told to go and work on that if she wanted the promo. That seemed to indicate to me that eventually the Partners etc get it right, and the right people are being promoted.

Long winded way to get to it - but my quesiton is do you think this is the case in the US? Everythying I ever read about big 4 in the US seems to indicate that it is only 'kiss-asses' that get ahead and its not what you do but who you know etc. Do you think this is sour grapes from those passed over from promotion, or is the culture different in the US and promotions are not on merit?

YES! I'm an audit senior in the Northeast who has tried to 'maintain the running dream' along with a career. Focus on the marathon (PB 2:34). It's difficult, but great stress reliever. Anyone else?

[quote]restauranteur wrote:

Take a job you enjoy that pays whatever, though, and you will find that the salary rises much more quickly.

quote]

a. Salary rises much more quickly - yeah, going from $8/hour working at the record store to $11/hour at Stabucks - nice trajectory!

b. My f-ing taxes will continue to go up as I have to support all of the artists, video game designers, track coaches, writers, and others that want more (from the govt) and don't earn enough.

Low dollar, low accomplishment people often prop themselves up by tearing down the system that rewards talent, intelligence, hard work, etc.

I prefer to work hard for 40-50 hours a week (more at times) so I can enjoy my time off with comfort and (economic) security - well, relative security. I like traveling, going to sporting events (even track meets in Europe), buying pizza and beer that is not advertised as lowest price ever, and so on.

Don't worry, i will continue to leave my old furniture on the curb so you can pick it up.