{ "media_type": "text", "post_content": "All the talk is that we are heading into a recession within the next year. What impact will this have on those in public accounting and our exit opp considerations?", "post_id": "5773144ff54c7b1300f256bd", "reply_count": 12, "vote_count": 5, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting", "feed_type": "crowd" }
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All the talk is that we are heading into a recession within the next year. What impact will this have on those in public accounting and our exit opp considerations?

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Probably one of the safer places to be during a recession.

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Private will do massive cuts to bring down costs to appease investors. Public accounting will do cuts as well but not like private. Big4 will get hit hard as they always get hit, especially consulting and M&A work since both will slow down during a recession. Mid level and national firms will definitely see some layoffs but if you group is profitable I can't see them firing people. But if your group starts losing clients left and right then I'd be worried.

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Not an auditor, work on deals so a little nervous

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Old heads tell me that BIG 4 didn't lay off during 08 recession. But people just didn't get hired/raises/promotion like before

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Also heard about laid off in FS advisory recently

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I echo @CroweHorwath1. Indeed, a very stable industry in rough times.

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I'm usually a bear, but I don't see a recession coming - at least not a bad one with layoffs that will affect us.

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PwC laid off 15% of advisory. For those that mentioned business school - there are still things that need to be considered - application volume will skyrocket which means acceptance to schools you were a shoe-in for before will have also decreased due to more competition.

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Get on some Govt audits...you'll always be needed. I do small private and govt audits

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PwC laid off people in 08 and 09. Mainly manager +

If I get laid off I plan to get my MBA!

Well I'm going to law school next year so eh

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