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Why would you leave for 10% bump?
I second this
What does the job do? Is it more FP&A focused?
As someone who left audit after 1 year of senior and has done two different roles now. This sounds like something I would encourage my friends still in audit to take.
Some more senior level folks in audit may laugh at you, but in my opinion you will gather way more skills to move up a corporate food chain. A senior manager in audit can make a jump to CFO or get there... but based on my experience there are so so so many skill gaps.
Auditors don’t really understand how businesses work. Focus way more on the balance sheet and only at points in time. It blows my mind the PCAOB standards are not to look at all 12 months of financial data lined up. Auditors would find so many more mistakes.
These are just my thoughts and please don’t blow me up fishbowl.
Audit partner is a sweet gig though so I don’t mean to be poopooing on audit.
Lmao.
So when I was in FDD when we line up the P&L you would be surprised over a 12 month period a trial balance account which would run at a debit or credit balance would suddenly just switch in like April. So all I was trying imply here is that I don’t think that’s a hard exercise and I’m not an auditor but when we would ask about those more often than not the company is like yeah we just fucked up our accounting. Which could imply a control failure.
All in all it’s not my job and I don’t care. I just want to see a shiny piece of paper now that says a company was audited.
KPMG1 you are correct and to build off that there is a ton of work auditors do that they kill themselves over on the BS because of the current rules environment and it’s really irrelevant at the end of the day.
I was getting offers form the Fortune 500 as a 2nd year audit associate for senior analyst positions. I would think a manager is worth much more and you’d be selling yourself short honestly
Are you leaving your current firm anyway and trying to decide whether to stay in public accounting or go into industry? Think about reasons beyond 10% pay bump now for leaving. Is it firm relates or public accounting. In my experience public accounting can offer so many options and can be more lucrative in the long run if you are with the right firm and engaged.
Is stock part of the compensation package?
There is a danger of ‘staying too long’ in public. If your trying to jump to more of an analyst role, now is probably the time to do it. If you wait, they’ll have difficulty lining up with your pay expectations.
So why is it danger if public pays well and you can stay?
Do not leave for at least 20%, and that’s on the low end. You should expect 25-30%