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What topic is good for a value moment
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Coach
Does AAS pay the same as FDD?
Six figures really ain’t that much nowadays…
Coach
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Subject Expert
Wait you’re at pwc being offered double manager money? That’s like 340k base lol
Subject Expert
Yeah $100 an hour aint shit to give up full time lol pass
I did contract work for a few years when my mom was sick and I need the flexibility. When the economy is growing it’s great since you get paid for every hour you work, have control over your schedule and get to choose what you work on. The downside is when the economy slows, contractors are the first to go. Additionally, you have to pay for your own insurance, pay the payroll tax quarterly, calculate and pay your quarterly taxes. Personally I wouldn’t choose it for the money but more for flexibility if something arises and you need more flexibility than public or private accounting can offer.
Coach
Why not just come to A&M and make more than $100 an hour to do deals all year (and not have to go back to audit)
2nd this
Coach
That’s a bad idea. Work is slow. Why go chase work and get paid by the hour when you’re on the payroll at PwC? I know which firm you’re referring to. $100/hr is a lot of money… if you’re actively staffed as often as you are at PwC. That’s no guarantee. When you factor all the other benefits, especially health insurance and the fact that at PwC you have a path upward, it’s not a good deal.
Subject Expert
You can’t annualize an entire year based on busy season… Especially considering you likely won’t be making any money after April.
That’s how these busy season contracts work.
I was offered a contractor role as a senior. It paid like twice as much as I was making. I think it had al the benefits too. I didn’t end up taking it. IMO it’s a bad idea.
I came from audit and there was always work so I think you’ll have more than enough work.
But the uncertainty would suck AND audit sucks. I think it would county against you if you were looking to make a move to IB, corp dev etc.
If you’re looking to come back at the end of May, it will prob be slow for deals overall. I think if you leave, it’ll be so much harder ti get back, at least with pwc.
Contractor role isn’t guaranteed 55 hours and I’ve seen contractors have their hours limited or get kicked off engagements for inefficiency. It also has an expiration date so you’ll be back looking for a job and you don’t know what the market will be like then.
Going backs to audit does nothing to build your skillset or further your career. If you go back to deals, you’ll be in the same spot as you are now (at best) but likely at a new firm and
One of the recruiters i’ve talked were heavily against the “contract” role and explained this will stick out on my resume as a negative way. So wanted to ask your opinion on this matter. Thank you!
Managers at pwc don’t make 170
Coach
Agreed if we’re talking audit - no chance
But I know this contract roles pay very well, but also no insurance, or retirement. Just straight cash.
At PwC you actually do get full benefits as a contractor during your contract period on their FTN program, including them paying your cell phone.
Horrible idea
Absolutely do not do it. Either look for a new job or just enjoy the chill days, audit will be a permanent stain on your resume if you ever jump back to it, speaking from experience
This sounds like a horrible idea. Don’t worry….even if there is a recession, deal flow will start to pick up as PE’s look to deploy capital and purchases assets for a bargain. From what I’ve heard, bankers are temporarily pausing or delaying deals with the hopes that inflation gets better and the Fed signals they will slow QT and future interest rates. This has resulted in a huge backlog of potential sellers that will hit the market when macroeconomic conditions improve. My advice is to use any slow down you currently have to learn Alteryx, Power BI and sharpen up on you FDD skills bc you’ll need them sooner rather than later. Lastly, in my opinion, FDD is a better career path and audit in the long-term.