In your opinion, is being a tax partner compatible with having a family? What sacrifices would you have to make versus a more flexible position say in industry or government?

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Very worth it. I am a father of two. My wife has an equally demanding career and I have tremendous flexibility at EY. I have WFH two days a week for many years.

I am the family cook. I am home by 6pm to cook dinner for the family. We play cards, rummy cube or some other game after dinner. We have started playing Monopoly Go, a card game. When my kids were little they would then do homework at the kitchen table and my wife and I may log on again - if needed. So not ideal but we would work together.

However I have been there for my kids; making their school events, coaching their sports teams, doctors appointments, etc.

I don’t know many jobs that pay what this does, has a pension and provides this level of flexibility.

likesmarthelpfuluplifting

There are people who make it work like the partner who commented here, and there are a lot who end up divorced or with strained family lives. It’s all about your priorities and the boundaries you set.

likesmartfunny

P1 and SM1 - wanted to say thank you for this input! As a Senior, if can be hard to navigate thinking of a someday-family and if public accounting is able to enable a family-centered reality. I appreciated the honest input and the hope that I don’t have to put one dream aside completely to make the other happen. I understand it can’t be easy but I’m glad to hear it is possible!

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Very doable - and the rewards far outweigh the downside. It takes setting boundaries and giving up some control, and I think COVID has shown us all a little better that we can be more flexible and don’t have to be right on top of our teams, we hired them for a reason. But even before that, as long as I was in town I was at my kids events and moments. In my house mornings are our best time so my meetings always start a little later. Have to find what makes your family happy and work around that.

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I have always put my family first. We work hard when we need to meet deadlines but we have truly flexible scheduling to help you maintain work life balance. I raised three children and have been married 35 years to my wonderful wife. I have been a partner in our firm for 24 years. We have several current staff that left private to have a more rewarding career with even better flexibility. We have great clients that we strive to help to maximize their success. Every client engagement has a defined win/win agreement. I love my family, faith and career in that order. If you are brought up under a good leader you can make your career what ever you want it to be and fortunately I was. I’m 57 and financially set to retire but am having too much fun helping clients and staff to be successful to retire just yet. About another 8 years and I’ll step down to let my younger partners take the full lead not because it’s my goal but because it’s the right thing to do for our firm. It’s not about public vs private but rather finding a culture that gives you flexibility to succeed in all aspects of your life. Blessing to you in your decision process.

likesmart

100% worth it. Best advice is to find the balance for personal and professional. I work hard and have crazy hours at times. But I make time for my family, charity, friends and personal interests.

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Most of the partners I work for don't seem happy and that tone is definitely felt across our group.

Doesn't seem worth it to me since there
Marginal utility of money is a lot less than marginal utility of additional time with family.

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Industry is definitely better position for work-life balance & the money in stock option in the industry can help you reach your FIRE goal.

funny

Second, not all companies offer long term incentive compensation (and most often it’s reserved for directors and higher) and if options are granted, the stock price needs to move to get a payout.

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Yes, 100%.

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