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Will production even be fun when we go back??
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Pro
I think senior leadership are actually loving this as they’ll now use this as an excuse to push more work overseas where it is cheaper to be prepared etc
Pro
You’ll end up like the U.K. eventually, everything prepared by the team in India, then reviewed in team and sent back to India for changes to be made. If you are extra lucky you’ll have it like the U.K. where some teams have the teams in India prepare, review and release returns and the U.K. teams do not even look at the returns anymore and focus more on consulting.
Chief
The problem is the culture of PA and people do not want to endure it for the path to partnership. Until that happens, expect to be understaffed for years to come.
It’s all about those billables. It’s interesting talking with friends with completely different jobs after things started opening up and them talking about logging on but then making their kids breakfast, taking them to daycare, grabbing a shower before going to pick up the kids but still logging off at normal time. Basically a job where as long as you’re online it counts towards your day. No, that’s absolutely not a thing in this profession. Gotta hit those target hours.
Short staff leads to big margins. Costs stay the same whether you work 40 or 80 hours. How will the partners pay for their beach houses and luxury cars without your hard work?
Same with investment banking. Very difficult to retain talent