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What is the leave policy in JP Morgan?
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Rising Star
Is big 4 PCS a dead path?
How do i see my utilization?
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It’s not tough
Says a senior manager, ok.
There’s no shortage. There’s actually a huge surplus, the shortage talk is used to suppress wages and milk current staff
Wages have risen exponentially, way beyond inflation esp at the lower wages. For accounting and economy overall.
“Shortage” at unlivable wage pay. I think this is just an excuse to justify outsourcing & running teams with a skeleton crew. We need you to do the job of 2 people and you have to stay late because “there’s not enough qualified people”. Aka, we’re going to pay you for 40 hours but make you work 60, creating a culture of fear and pressure to get as much free labor out of you as possible, and want this to be normalized so you don’t become bitter and less productive and go somewhere else.
Bang on
Because there’s currently not a shortage.
It is tough out there. Probably because these companies want in experience everything. If you are missing one of the requirements, they do not want you.
Yes, and the most grace I can give them is believe that the companies do, in fact, lack the expertise currently and are struggling to make a profit (maybe even as a result). And so cheap experts is the only fix. I don’t think we have to wait for artificial intelligence to kill the pipeline.
Rising Star
It’s got a combination of drivers. Other fields have a perception of greater opportunity and frankly accounting wages aren’t great at the majority of companies because they don’t value the function. Because of that enrollment is down. Because enrollment is down professors have faced some pressure to be lenient graders. That in tandem with WFH too early in careers is driving a competency crisis at the entry level. Also lots of jobs are now being outsourced.
I’d nuance the pay point by saying accounting is low floor, high ceiling. 5 years in, most accountants who went the public accounting route will be making more than their peers with more lucrative starting salaries.
Public accounting increased salaries tremendously during the great resignation, so no one wants to leave because industry salaries have not grown as fast as public. That’s why most people think the market sucks right now.
Only 1 “senior manager” is stating some nonsense to defend these companies’ manipulative schemes to over work employees and using “wage increase” is false.
Public accounting salaries are the highest they’ve ever been inflation adjusted. The reason no one is leaving is because for most people PA is paying more than industry.
Pro
There is a shortage onshore. But there’s plenty of resources offshore. All PA firms are reducing their onshore resources to replace them with offshore resources. So you have onshore unemployment all vying for industry roles which creates the artificial supply of accountants in the country.
For those who say its not tough, should be ashamed and just look at how many comments and people saying otherwise.
My experience has been different. Im not looking for work and I get calls and emails from recruiters on the weekly basis for job opportunities they are trying to fill. Have you tried working with a recruiting firm like LHH or Robert Half?
There’s no shortage. It’s about dollars per qualification. Your future manager can’t/won’t train you or pay you.
If you’re paying $50/hour for a cashier, you will find a lot of cashiers. If you’re paying $10/hour for a cashier, you will only find novice cashiers.
I don’t understand either
They mean a shortage of accountants with CPA and public accounting experience.
SM1 - Why would a CPA firm be hiring from a community college? I believe you meant to say that a recent college graduate attended a community college and transferred to a university to complete their degree.
I wish I meant that
Oh gee thank goodness I got that accounting degree years ago… not 🤮🤮🤮
It's a shortage of people who actually want to learn and do the work. Putting in the extra hours pays off and is the only way to stay on top of your game. Salaries are too high to have someone on the team trying to coast. All that does is cause the hard workers to work even harder.
That depends entirely on the job. For the past five years I have had that mentality of "If I just put in more hours and try a little harder and burn the midnight oil, I will be valued and seen as someone who is determined". Sadly, noone cares. Aside from genuine expertise, it is mostly a popularity contest where politics mean a lot more than actual qualifications.