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I am WAY TOO nice to be in public accounting….
True or false?
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Rising Star
Just depends on office and service line. My spouse was there and said it was pretty toxic with a lot of Big 4 rejects and people who wished they were at Big 4. Ironically my spouse ended up leaving for Big 4 for better exit ops lol. No one knows what BDO is unfortunately.
When I was at BDO this was my experience as well. Senior manager rejects that big 4 wouldn’t promote. They became partners at BDO. Constantly comparing themselves to big 4. I would see them all run back to their prior big 4 as soon as they could once they could get direct entry partner. Seeing that made me think I should leave BDO and go big 4. Best decision I ever made 15 years ago.
There will be haters but I personally love it.
Most people are great, not as uptight as Big four folks.
When BDO has done so many people dirty it's expected they will get a horrible rap sheet and many people that will go out of their way to call them out. Nothing insane about it, all cause and effect. That it reaches a level of "insane" just shows how horrific they are.
They made their bed and now must lie in it.
Run as fast as you can and don't look back
Tax Manager 2 I hope you're enjoying your MLK long weekend policing fishbowl and demanding credibility. You are a true keyboard warrior! 🤡
ESOP is garbage. Basically it was set up for the senior partners to convert a failing balance sheet into a big payday before they retired. They literally revived retired partners to pass the vote to sell out because they couldn't get the junior partners to sign up to get railroaded. That's why you see BDO throwing money around to hire Senior Managers and MDs, they are desperate to backfill the roles of those who said "f this! They screwed me! and left.
PE gave 2B to the partners to find the ESOP. So y'all who "own a piece" of BDO (after your what, 5 year vesting?) also own a piece of that enormous debt at I believe an 11%+ interest rate. So it is worth, uh, not a lot.
Also don't forget the 80%+ audit error rate, per the PCAOB. Barely under BF Borgers!
Hell no, you couldn't pay me enough (and they tried). But I know several who do, and everything I've stated is public knowledge (and you can confirm on Apollo's 10K and the PCAOB audit error report). So not sure what the point of your question is.
The ESOP can be a great retirement benefit if you plan on staying for the long haul. Culturally, we are undergoing a lot of change, especially in assurance and advisory. Advisory has a lot of issues right now in particular given many changes in leadership and strategy while assurance has audit quality issues that are a work in progress.
Welcome! BDO is great - you will love it. I agree with TM1 on the people at BDO.
Raises will be lower at BDO than any B4, but you get the ESOP, which could give a return if you stay for 5 years. If you only plan on staying 2-3 years it’s not worth joining. Teams have also been running thin on the audit side with more and more work being pushed to India
…anything is better than Withum in Bethesda
Depend on office and practice. I love it.
Been at the S Florida offices for close to 10 years. I still love my job and the people I work with.
Or Cohn Reznick…..
You joining as a principal? Hope so!
GWDC or downtown. Love the people and the culture in the market.