Hi folks- I have an offer for a associate position for kpmg capability center lake nona FL.
My Current pay is 4k/year more than what they offer. But they give a one time sign on bonus of 5k, which will be 1k over my current for now.
I'm currently at a midwest regional mid size firm and with only 1 year of experience. I guess pro is big 4 names on the resume and great managers and project and growth in lake nona.
Cons are salary decrease, and uncertainty of new location. Thoughts? KPMG
Lake Nona is very nice. Expensive to live there so Orlando would be where to look. If you enjoy the heat, come on down.
I live here and no state tax doesn't make up for the lower salaries.
I would honestly be a little hesitant to make the change for a few reasons.
1) I would argue you’re more experienced than a 1st year staff at a big 4, therefore, it doesn’t seem feasible to bring you in as a 1st year staff.
2) It’s a big change to switch firms and PA firms are dying to hire more people so I would be asking for more money rather than undercutting yourself.
3) Personally if I was leaving a firm to another, I would leave not only for pay but also a promotion which has to do with my first point.
…But then again this also has to do with your priorities and what you want.
Why not move and try remote and keep looking? You’d potentially then also give yourself some more experience to go for a bigger title/paycheck when you did want to switch
Negotiate for more because you won’t be getting a raise until 10/1/22
In this drought of not having staff levels filled to normal capacity, you have all the bargaining power. But, you’ll make more money over the course of your career if you switch. So I don’t think it’s a bad decision.
Thank you all for the input! I have decided to turn down the offer and keep working remotely with my current firm and pass my CPA exam first.
Thanks!
Good choice! If they offered you an accounting role I’d say take it. But after you pass your CPA you can move to a bigger firm easily.
Make sure you check out the healthcare the insurance I found was 2x as expensive as mid tier firms some cover up to 80% or more.
Very good. Check the dental too when I was there it was $2,000 vs $700 for family plan and very limited options with PPO or HMO whatever it was called. Wish you the best though! KPMG also has a decent pension credit program (few thousand), but gotta stay for 5 years to fully vest.
With your background I will move there but still work for old firm since they let you work remotely. Once you are there start looking and leave for a good offer. You could easily leave for more money, maybe wait another 6 month or so. Everyone is working remotely right now, even KPMG folks so there is no need to cut your pay down. Other thing is if you are sold on moving to KPMG, ask them to reimburse for moving expenses.
No income tax in FL if your state has an income tax. So maybe COLA considerations
The no state tax does not make up for lower wages. Everyone thinks it's LCOL, but it's really. Rent, insurance, utilities, gas, and tolls are pretty high here.
Pro
If I were you, I would only take it if you need a way out of your current firm ASAP and/or need to relocate to FL.
Otherwise it doesn't really make sense to be demoted to first year and to also have reduced pay. I get the whole "name on the resume" thing but there's a hit market out there right now. It's our time to demand more cash, not to settle with whatever they throw our way.
Take into consideration health benefits. I came from another firm to KPMG for 1 more, but the medical insurance put me 3k below; however, the name in the resume was worth it, since I’m leaving at 25% more than my current salary
You must had great health care insurance in your old firm. Mine is the same price as kpmg but kpmg has better deductible. Or o I can choose cheaper one in kpmg as well
I wouldn't hinge the decision on $5k today, if the career value is >$5k
I understand this point. Just hard to picture something in the future hasn't happen yet.
Ensure you’ll be promoted and there is a path upward quickly. There will be a lot of competition in that office I’m sure.
From my conversation with the hiring manager, he seems to be saying that there will be the same promotion Room as those folks in downtown Orlando office. Not sure how to ask this question better. Should I ask HR?
Pro
It’s a joke that they aren’t offering you more than their current position. The accounting market is so hot right now. There are seniors in my group jumping to other firms for $20-25k more at other firms…
I think my YOE, state pay difference and the budget of this role can all be factors. Im not jumping in the same market, just to note that. But I'm also not enough experienced to get in a senior role immediately now. Again, this is not the best time of the career to make a move, I totally get it, but just the team and role at a big 4 firm can be attempting to think about it.
Capability center is that not the service center? I don’t think you will be doing much real accounting work
Pro
I was thinking the same. Sounds like pwc’s acceleration center.