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How much do big 4 FDD partners make all in?
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How much do big 4 FDD partners make all in?
What’s your utilization right now?
Deloitte FDD vs PwC FDD? NYC
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It’s just a job don’t take it so personally
Which firm are you at? B4 almost never lays off people who are in the upper percentiles of utilization. Under-utilized folks are always the starting point.
GT and the others are going to be different.
Also, get your license. Hopping to another firm doing FDD will always be easy, someone will always be hiring. May be difficult to go to B4 from smaller firm but smaller to smaller is easy.
B4 specifically whether it’s tax, audit, or 1 of the 100 advisory services, are just springboards to other companies.
No different from the management consultants at Bain or McKinsey. Work hard, learn a ton, leverage your knowledge and brand name experience to go somewhere else.
Appreciate it. I am finding it hard to see which companies/roles to springboard to which isnt a paycut. Have you seen any examples of exiting for an objectively better job?
Utilization isn’t the be all and end all. People can be pounding the charge code and producing very little. If someone doesn’t have what it takes to excel at their level and continue to progress, then they will get cut especially when the market outlook isn’t great.
“This is genuinely bizarre that we are just a number to the firm.” —-
That comment is both incredibly naive and misinformed. It shows your lack of understanding of how businesses operate. You probably shouldn’t be doing FDD if you truly don’t understand profitability metrics of a consultancy business. Hint - charge hours are somewhat meaningless.
There are a ton of metrics outside of utilization so you clearly don’t know why people were laid off. Could be individual performance, market outlook, firm plan, etc. Firms generally don’t cut people just for fun. A lot is invested in hiring and training people.
Sure…
The fact some of the top 10 CPA firms have started routine layoffs honestly puts the argument much more in favor of joining big 4 / similar. I'm honestly not sure what is the attraction of some of the cpa firms below that is anymore.
To be in a place with lower job security you need higher pay to make up for it. The fact they continue to pay less and layoff whenever a slight dip on demand comes along is bonkers. Theyve been upping their hours too. Probably explains the exodus of talent some of those firms have.
Feels like the market is much more set up for your big firms at the top end (big4, a&m etc), and advisory firms at the lower end (Riveron, kroll, PPP, FTI, wm, brg, intrinsic, stout etc etc)
I would argue the opposite. You’re going to be grinded similar in the non-big4 for less pay, less name brand recognition, and lack of toolings to make the work more tedious. I would argue the exits from big4 FDD are significantly better than the others. At the end of the day, for most people, they should be looking at FDD as a launchpad into different careers.
Good exits are increasingly rare these days. Corp dev want bankers who have more relevant experience, FP&A want people who have previous FP&A experience. At junior levels trending TB isn’t really meaningful experience, then at senior levels you have become too specialized. With AI your FDD experience become even less valuable (looking at those seniors who spend all days promoting AI - not their fault but how could they learn like this?) On top of that most exits are a paycut now.
A&M has a no layoff policy
🙄