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Advice needed - boyfriend has almost 3.5 years of finance experience at a bank. Interviewed for PwC valuation senior associate and now recruiter says they want to hire him at “experienced associate” because he has no valuation experience. Is this too big of a step backwards in career? Should he push back and see if it gets him anywhere? If he does accept Associate, is it reasonable to ask for written, definitive timeline (1 year?) for promo to Senior upon meeting standards? Help!
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Advice needed - boyfriend has almost 3.5 years of finance experience at a bank. Interviewed for PwC valuation senior associate and now recruiter says they want to hire him at “experienced associate” because he has no valuation experience. Is this too big of a step backwards in career? Should he push back and see if it gets him anywhere? If he does accept Associate, is it reasonable to ask for written, definitive timeline (1 year?) for promo to Senior upon meeting standards? Help!
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I wish they enforced it more.
You have more flexibility in b4 the more senior you are.
A lifetime senior associate position is a huge burden for the firm (and also probably going to complain about not getting any raises other than cost of living). Say your group only has enough work for 10 seniors. If 8 people decide to stay seniors for life, now there’s a bottleneck that’s preventing associates from getting promoted and if manager turnover is high, there’s no one to fill the spots
Yes and no, depends on level. For example seniors are in very high demand so having someone perform well as a senior and stay in that role suits the firm fine but the firm has no need for a 5 year staff.
it's not a pure up or out culture, but realistically it ends up that wayfor the most part. if you get stuck at a level your raises and bonuses will flatten. at experienced director level some firms have alternative permanent paths than partner
Okayy
Move to CBS. I've been here 24+ years, rank 63 for 10+ years though my role has changed. Don't want the political bs that comes with rank 62.
I'm guessing yes, but not as much in the past.
I know in audit it was up or out when I worked at EY. I can’t speak to the other service lines. They may have relaxed some with the shortage of people.
Chief
It’s now sub service line dependent. For example EY has an edge tax practice that you can stay at your level forever.
Rising Star
Never heard of this. I’ve met plenty of people who have been seniors for 5-10 years because they didn’t want to be a manager. While it’s rare because I don’t know anyone who wants to stop progressing in their career assuming your performing at level I have never heard of the firm firing anyone due to not being promoted.
Also if your at the same level for an excessive amount of time at some point you will max out the pay range and stop getting raises as well.
No, they will need to keep more good Associate - Manager in position longer in order to accomodate the decreasing number of accounting major graduates in the pipeline
That is not really the case anymore. It's more of they take care of their employees now more than ever, at least it's that way in my company. Hope this helps
I haven't really heard of companies doing this in recent years. If they are doing it then its far and few in between.