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null

Being a partner isn’t as lucrative as it was 15 years ago.

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Posting as :
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I know right? I was at the Ferrari dealership the other day and rationalizing only buying one instead of two because my mansion only has a four car instead of a five car garage. Life is such a disappointment at times.

likeupliftingfunny

Hey snarkfest, don't beat up here. All OP said is that it's not as lucrative as it used to be -- and that a problem for all of you too. That's a problem for the accounting profession. You should be asking why, not just mocking their relatively higher comp. This has a real impact on everyone. More revenue battles, more monitoring, more acrimony.

likesmart

I mean I feel for you because the old partners gave themselves super generous retirements and y’all have to pay for it. But you still make 500k-$1M plus so no one feels bad for you

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Ironically, on their start date, almost everyone in this bowl has income greater than the median U.S. household. That's usually accompanied by, "I went to college, so I earned it!"

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EY2 I started at 48 base in Texas in 2009. I was very much struggling. I was also putting in 70-80 hours. What’s the minimum wage again?

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😿

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Oh you poor thing, I feel so bad for you!!

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I can only afford Ferrari when they're running a BOGO.

likefunny

This post by OP sounds like someone trying to rationalize their exit rather than an actual Partner having an epiphany

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I see a whole lot of wealthy partners, so idk

funny

How about money a partner would make in general?

uplifting

As an oligopoly just jack up the rates. Auditors can set whatever price. Most towns only have like 2 firms that can serve any one specific industry (even though there’s 4 overall). Self inflicted money problems.

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New Partner here - definitely took a pay cut because of buy in, requirement to pay almost 100% of healthcare benefits, both sides of SS and MC, and additional federal, state and local taxes. And I get less PTO! But not crying as this is a long game as it always has been. The real money is at the senior partner level. The point I think OP makes is that there are now different levels of partners in PA as opposed to the past.

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Yes, please do us all a solid as for some reason this is hush hush in public accounting. Please tell what your salary was as a senior manager and what you expect to make as a first year partner (including bonus). I am simply asking as I am contemplating getting out of the industry but it would help to understand your situation. I am sick of drinking the cool aid and want to understand a ball park (at least) of where this is leading.

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OP which service line?

Partners have to pay for shares. So their reported earnings are a lot higher than what cash they actually receive from making their living. Senior managers are at like just $150k, so don’t expect earnings to just explode from there...It’s why the best leave.

PwC2.. that’s how you get both firms shut down as it is completely illegal.

My understanding is that in the beginning partners often / may take a pay cut due to having to pay back the loan on the purchased shares.

New partner here. Had to tell my beloved wife that making partner wasn’t the end game and the years of sacrifice she made raising the kids herself would continue. She was hoping for a big house, private school and nice vacations for the kids but I wont be able to afford that for another few years. I feel like I let her down.

What are you on track to pull in your first after everything? Equate it to wages as well as you can. Many people are interested in this.

Additional Posts in Accounting

I am trying to figure out what salary range I should be in with my giving skill sets. I am a Jack of many trades: circuit and pcb design in audio(including vacuum tube design), tech /repair for tube and some solid state technology, tech support in IT, web development (php, css), graphics and print

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Does anyone know anything about the FCB health agencies and what the difference between all of them are?

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Just hit 1 year at EY, have min. living expenses & contributing 6% to Roth. Currently just have $ sitting in savings. Should I be increasing contributions, opening investment accts, etc? Pls help TIA

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Anyone have a good therapist recommendation in the Fairfax area? Work stress is starting to bring out the worst in my anxiety/OCD.

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If i immigrate into US at JFK while coming from India and travel to JC on same day, will NY state quarantine requirements apply to me ?

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PwC do credit checks upon manager (advisory) promotion? Curious as to what all I may be in for (credit is fine, just curious what the search is going to feel like if it happens)

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Me: badass boss lady

Also me: codependent anxiety ridden dishrag who assumes she is always wrong, is extremely awkward, can’t make a decision about non-work-related life stuff.

Can anyone relate?

likefunny

I’m trying to decide if getting another degree is right for me. I currently work at a B4 cyber consulting practice that focuses on technical implementations. I often find that I don’t always have the “why” behind what I’m doing without researching. I’ve been playing around with the idea of getting a second bachelors in CS online and wanted to see if others thought this would be a solid plan. I know I could learn most of the information myself, but the structure would help motivate me to finish.

Deloitte GPS HC Consultant vs PwC Sr. Associate for HC team. Which company would you choose and why?

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Typically how long does it take for uscis to mail the RFE notice on premium processing? Lawyer did not opt for email or fax for receiving the RFE. Can you share your experience?

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Anyone left consulting/industry job and switched to government? What agencies did you go to? It seems very tough to get a government job without any fed government experience, even though I am in the Guard

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3/26/22 check in🙌🙌. I’ll be going for my AM ride soon. What are your workout plans today?

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https://www.gofundme.com/y9d7ee-freedroga

So fishes: do we really feel sorry for Droga, or should we pity the workers instead who were sold down the river???

(And bravo to Terri and Sandy)!

likefunny

I want to try for senior data analyst role for google, but not sure how to get my profile shortlisted. Inputs from anyone who has switched to google from indian MNCs would be highly appreciated!

Current skill set: Python, Elastic search, kibana, power bi, rest api, basics of ML, excel macros.
Total experience: 11 yrs
Current pkg: 21 lpa

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Does Bofa/BOA not allow their employees to trade in Indian securities ?

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Anyone else stuck in CLT to NY?

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Have you ever run into a situation where you asked for more money (either a raise or when negotiating an offer) and you got it and regretted it? What are the strings attached to more $?

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LIC, NY family looking for a nanny or nanny share for a 2 year old and an infant. Please let me know if you have any recs. Thanks!

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Additional Posts (overall)

DAE wish they were white? Is it to much to ask for basic respect and fair promo opps??? 😔

likefunny

I use to think I was the only lonely auditor at the bar by myself... Truth is there are also auditors at the bar from the other big 4. Cheers to being miserable

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What are the smallest cities that have a Big4 office?

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We still have a month to go and I feel like I can maybe go another 4 minutes

likefunnyuplifting

Public Service Announcement to all of you who add notes or comments to individual cells in a large data set. PLEASE STOP!

The better alternative is to create a notes column then add the note in the newly created column to the specific line you are referencing. Then you can filter on the colums and read though them all and filter down on specific lines. Much better than searching through the data set.

likefunnysmart

Has anyone heard of a partner/principal not being able to provide a reference because of firm policy? Is this normal, and I just somehow missed hearing about it?

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I saw a post on here earlier about the boldest expense you ever put through. I'm just curious how have you not been caught?

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What are the personalities of each big 4? Is there really a differentiator in people across each big 4?

likehelpfulfunny

How hard is it to get fired from PA these days?

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If you were a financial statement line item, you would be goodwill, and I wouldn't even bother testing a fine intangible asset like you for impairment.

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KPMG to require vaccine or negative test to enter KPMG facilities effective 10/4/21.

likefunnyhelpful

Finally passed the CPA exams. but I was taking them in my home state and since moved. I don’t meet a residency requirement in my home state and I need another class for the new state. Suggestions?

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What are the differences between a partner and office managing partner? Is the office managing partner the boss of all the partners in the office?

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Has 2 b4 firms tell me 175k for experienced audit manager was too high for them in HCOL city. Is this true? They seemed genuinely interested but eventually told me they couldn’t offer that much

funnylike

Any photography lovers here? If so have you tried making it your side hustle while working in PA?

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ladies, im giving myself a hernia trying to carry all my crap for work (especially because of this hoteling nonsense). any ideas on backpacks or purses that will help my lopsided-ness. TIA ☺

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Any seniors with advice on how to establish authority with associates (same age) but still be an effective team player?

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There seems to be a trend towards shared service centers or offshore accounting functions among many of the clients Ive worked on or heard about. Is anyone concerned about this, moving to industry?

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What to do when your manager is cray cray? It’s an ongoing problem but the latest and greatest was a rant from the manager “everyone’s out to get me” & “fuck this fucking place I should just quit”

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How do you deal with stress/anxiety management ? I’m a senior with manager being presented as an option next year and want develop better habits now.

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