Rising Star
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Any carpal tunnel tips? First timer here
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Bain & Company Looking for a referral into one of the major consulting firms … BCG / Accenture Song / Bain ect . My background is in media strategy and project management . Spent the last 3 years focusing on change management and processes development across complex CPG organizations. Overall 11 YOE. DM or comment of any roles you think relevant and are willing to do a referral for.BCG Digital Ventures Boston Consulting Group Bain & Company Accenture
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Thoughts of transfer pricing?
How to ace first impression during coffee
Who's sending these freaking emails?
Does anyone else feel Monday closing in?
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Start your own firm then seems like you have everything worked out
Rising Star
Sounds good 👍
Ideally, we retain most of our own. But I think getting fresh ideas from an outside perspective strengthens an organization.
I think the current model isn’t working anymore. It’s literally hemorrhaging… before someone will try something radical to change and make it better. At this point, what the firms don’t realize is the bar is so fucking low for improvement that any series of very small moderate changes would get them further than the way they are now. No one’s gonna do it perfect top to bottom, first time. But you can start literally any fucking where and see visible impact or improvement just by nature of trying something.
Watching them wait to try and struggle and figure this out is so frustrating. Because it is that obvious. To everyone. If this app is any indication. Where is the entrepreneur spirit? Accountants “speak the language of business?”🙄 We “analyze” business lol. If we spoke it, we’d be adapting and trying different things relentlessly to find what works and why, and how to expand on and scale that, with all hands on deck.
But we’re not lol. We’re just watching it burn down and bitching.
Partners will not take pay cut
Which is why I think they were able to keep salaries low for so long. But this great reshuffling is significant. Particularly if we keep getting big tax legislation passed every few years.
Rising Star
I can already see that I'll be getting 2-3x as much done as 80% of our new hires which have to be trained up on firm policies, at the same pay as a senior... Not a great look
Chief
EY2- "there's a reason things are the way they are" is how every PA firm is losing staff so quickly. Refusing to adapt or come up with new ideas to deal with the current reality is not sustainable, and we're losing out on all the smart, bright talent that would enjoy PA if they were compensated fairly and worked regular hours
You know good pay or not; people tend to move for a change.. how have you factored that in?
Rising Star
Kpmg 2- what level are you at? 50-80% of people have been leaving after 1-3 years. This would mean that seniors in 2-3 years are an actual normal amount rather than having to recruit people externally; shouldn't impact promotions. And could be done specifically for this year due to the crazy market to build a strong talent pipeline , rather every year. I've seen so many posts where people decide where to go for PA due to a difference in pay of $5k or less, TOTALLY worth it to get good new hires
Chief
Are you a rocket scientist?
I’m not sure I understand since even your “fast food workers” would be more expensive than India people which we already use and have CA’s
Rising Star
Not fast food workers. People with general work experience who are looking for public accounting experience
Good luck
This is so well said! I don’t know why people are so worried about promotion cycle, or what in fact is now a pyramid scheme. Normal companies (as in the 10M+ companies in the US) don’t promote their entire employee group and let unprompted people decide to leave all the time, and the sky has not fallen on them.
Firms say we get paid less because our career progression is faster. But in fact our career progression is faster because we work a ridiculous amount of time and at a much higher pace and stress level. THAT got us better career choices because our technical skills got trained more by doing, and industry companies like that skill set. The firms overworking our people AND underpaying them for just career progression is like double jeopardy. If firms don’t want to compensate the additional workload we are doing, that’s fine because we benefit from it and it’s our choice. But don’t pay below market as if we have to thank the firm for our own effort made in those late night hours
Pro
To add to this, low compensation in accounting is due the fact that a small group of firms have such a high influence in the labor market--not a literal monopsony, but close to it. Also due to the intense concentration of the candidate pool; i.e. the target universities from a single major. This allows the firms to take advantage of the information asymmetry that exists (i.e. brainwashing that it's worth it to come work for them just b/c of the exit opportunities).
Chief
Why no external hires? The more the merrier is how firms are hiring these days
Love this post but can’t see it happening
It's the 4th sentence that this all seems to hinge on, i.e. have them trained up in small groups by seniors and managers who are happy with their salary.
Lol