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Capitalism. Neoliberal economics. Rugged individualism and bootstraps. The illusion of the American dream. They'll tell you "beats a blue collar job or being employed." That's crab mentality. We should all enjoy ample labor rights and leisure time.
A lot of people realize this over time, even if they don't identify leftists. The firms are ageist precisely because fresh college grads are easily exploited.
I have the rare perspective of having worked both as a union electrician apprentice and a CPA.
Let me tell you - the union electricians have it GREAT. Start and stop times are rigorously mandated. Breaks are mandatory enforced. Every minute you work overtime is paid out. The union benefits are great. I have a few buddies from high school who apprenticed right out of high school and bought homes during the 2008 recession and crushed it better than any accountant I know.
You definitely use your body in the trades so it's not a picnic, but you definitely have more rights in the building trades. There is a fierce independent streak and a basket of odd personalities that would never exist in a stiff white collar office. The rank and file when mistreated can tell their boss to "go F themselves, talk to the union steward" when a boss makes an unreasonable request. Imagine telling a partner to go F themselves.
I came back to finish my CPA and rejoin public accounting because I had ankle surgery that would have made long days on my feet atrocious at an older age.
There is not a single day I do not miss the ability to use profanity daily, do an entire day of work without being micromanaged, and using my hands and whole body. The job satisfaction is very high in building trades. When the job is done, you can see it visually.
I can't say I ever felt the same way about job satisfaction in public. It is simply a safe profession that pays well, and fits my physical handicap. Not a day goes by that I miss the tools and camraderie of blue collar work. Honest days pay for a honest days work.
Partners / Managers:
"jUsT woRk ThE hOUrS iN yOuR sCheDule."
Also Partners / Managers:
"Get this done for me by tomorrow morning even if it means working all night. Oh, and only bill half your retain hours because our budget is not accurate. Oh, not hitting your retain hours will make it look like you have availability and you'll end up with another engagement? Sux 4 u! Lolz, j/k - I really care about you. Is your deliverable ready for my review yet?"
“Why are you leaving? Can we do something for you schedule?”
AND with no overtime pay
kind of the nature of being salaried. there are pros and cons...
Ok P5 I’m genuinely happy for you, but I don’t want to do that. Which leads to the underlying theme in all of these treads, working for big 4 is a choice; we are not indentured servants.
Also shall I assume you were an independent contractor and therefore paid your own healthcare 100% and paid your own payroll taxes? How comparable was the net vs. net income considering all of those plus your (admittedly paltry) 401k match?
10+. Must be nice to be you. Let’s try 14+ and both days of the weekend
I have been working at most 40 hours since June, many weeks I “worked 40” where a lot of that was available time, only now have I started doing a real 40 and some above
Nobody’s making anybody do anything.
Not blaming the employer (accounting firm) specifically of course. More like the ones who approved the law/policy to allow it tbh.
You think a public accounting hours are bad? Try law enforcement, EMT/nurses, deployed active duty military. All much much worse hours and conditions....just to put things in perspective :)
It's not even about fair compensation. It's about the expectation of significant overtime.
This past two week the entire gaming developer community was outraged about CD Projekt Red working 6 days a week on so called "crunch" time to push out Cyberpunk 2077 by the November release date.
Mind you, every employee is slated to likely get a bonus of $50,000 USD when the final sales are in because the company carves out 10% of sales for employee bonuses. Btw Poland's median income is $5,000 USD annually.
It makes me think if people in accounting weren't such meek rubber back bone types, we'd be more akin to the gaming industry and giving pushback about "crunch". Instead exactly as somebody said there's this stupid crab mentality... LoOk At tHe ER pEOPLe aND MiLItARy! Seriously guy? Take a page from the gaming industry. You don't have to put up with that crap.
I used to complain about this back in audit at EY. While 10 hour workdays are a joke in comparison to IB, the bonuses more than make up for it. That’s the major differentiator that makes it bearable, whereas the Big 4 really screw you on bonuses and comp increases.
You knew what you were getting yourself into, and there’s an exemption for white collar workers in the FLSA.
https://www.lawyers.com/legal-info/labor-employment-law/wage-and-hour-law/white-collar-exemptions-under-the-flsa.html
Obviously it’s legal or the firms wouldn’t be doing it. OP is asking HOW it’s legal
We are exempted from labor law
Which is ridiculous right.. lol