Ppl in tax - big4: what is the difference of work and career path for those who are lawyers (LLM) and those who are accountants ?

like
Posting as :
works at
You are currently posting as works at

LLMs are more likely to be in international, M&A, or WNT. I’m a JD in M&A tax and there’s really no difference between the work I do vs my cpa colleagues. Obviously lots of LLMs work at law firms, but I don’t think that’s what you’re asking here

like

Or T&E

I had a partner who was a JD/CPA. He could 10-key with one hand while noting case law with the other. He would enter a trance like state while doing and speak in something that sounded like tongues. Anyway, it’s $2 a pound.

likefunny

No real difference. Higher starting pay and therefore smaller raises going forward and you might get assigned to more consulting/M&A work earlier in your career. Progression to PPMD is the same and I’ve noticed lawyers without accounting backgrounds tend to struggle with accounting concepts early on, so focus on that if you fall into that category. It’s a great career path for those willing to work, but tax in BigLaw is a lot more money for not much more work if you can get in.

like

If you assume that a cpa gets into say M&A (which trends around 65-70% JDs).

Also I know people say cpas catch up; that hasn’t been my experience in close to 10 years in public and now close to 5 years in industry.

The gap might close, but that might mean only a 20-25 % premium at SM/D level rather than 60-70% up front.

Edit: my industry position would not go to a CPA. Comp is in line with MD comp and one promo (which is likely in the next 2 years) is low end partner comp.

like

Most of my team is JD/LLM. I’m CPA. We do exactly the same thing. I’m just better in excel than they are.

likefunny

Generally way better at excel and financial accounting. Worse at reading the law/writing

None really

Related Posts

Anybody aware of the marketing corrections in Accenture for level 10? Accenture Interactive

I have already completed 1 year with Accenture and is now eligible for a sub level movement. What is the usual increment given for sub level movement? And what should be the ideal fixed package for level 10.1 ?

Does Oracle have holiday shutdown?

likehelpful

Hello Connections!

I am new to this app and looking forward to explore more.

like

Hi all! I need some candid advice from y'all. How do I get my manager to see my value and see that I'm actually doing a lot of work? For some reason all the other departments & teams I work with always say how grateful they are that I've joined the company because I've really been cleaning things up & making their lives way easier. But for some reason in my manager's eyes all I do is "meets expectations". I already am doing senior level work as the only senior on our team left a month in... (1)

likehelpful

Seems like promotion goodies have started getting delivered!

Has anyone gone from being an admin to working in IT ? I have a big interest but not sure where to start. My current company has an IT department that I may be able to look into.

like

How many coachees do people generally have? I had four, which I thought was more than enough, but got six more assigned just now taking the total to ten! Seems like a ridiculous expectation. Is there anyone who's coaching more than 5? Am I the only one complaining about this?

like

Tech stack - python(pandas,numpy),sql,excel
What job role can i apply in big 4,,,,,i have experience of 3.2 years in infosys as test analyst,,,please do provide feedback,,,TIA

like

Has any firm in Canada reverted back from salary freezes during Covid? Aka gone back to pre-COVID salary bands. This question may be more for the strategy shops....I.e. I heard S& in the US is giving people raises in January to meet pre-COVID bands (but don’t know if this is happening in PwC). What are people seeing in Canada?

URGENT
Hi everyone! My brother recently moved to Pune and is looking for a place to stay. Actually he needs a place to stay for just 1 month. And no PG is providing him a room for 1 month. If anyone knows any such PG or guest house or anything that allows 1 month stay please let me know.
I'll be very thankful to you.

like

Has anyone faced 221G during USA H1B visa process?

My H1B is processing but after hearing stories that company won't provide any projects for US even after H1B approval , should u take a jump. Have a offer in hand for another company which pays 50% hike on current package

like

What resources are y’all using for prep? Of course I’m familiar with Case in point, rocket blocks, fast math, and b-school case books, but wanted to see if there are other resources people are finding helpful

like

Anyone available to do practice case this week? Pretty flexible with the times and based in EST. Preparing for BCG but open to either style

like

Have interviews coming up for McKinsey- any suggestions on how to prepare? Also if someone would like to case me?

like

Anyone interviewing with Simon Kucher for healthcare? Let’s chat!

like

Best tips for studying/prepping for case interviews? I am overwhelmed.

like
like

I feel special.

Post Photo
likeuplifting

Can somebody refer me to Siemens for procurement roles?

like

Additional Posts in Tax Bowl

On H1-B with approved I-140, currently looking out for State & Local Tax Senior/New Manager opportunity. Kindly share the leads, thank you.

like

Y’all I want to thank you for the tax discussion/questions we have in this bowl. I've been applying it to my job and it's helping. 😄 Of course, everything should be taken with a grain of salt.

like

Got an offer (yay!) and waiting on hireright to complete the background check. Anyone had experience with them since the pandemic and if so, how long did it take?

like

Is the market due for a correction anytime soon?

like

Went from a big firm to work for a smaller firm. The people in the smaller firm are protective of their work and are good by their work too. I no longer feel chaos or stress. I am treated with respect and my schedule is more normal. I am even working more billable hours than before, but it feels like a seamless experience. I don’t work then past 5pm or anything out of the ordinary for this time of the year. I am so grateful!

likeuplifting

Why do leaders keep comparing how “good”the new staff/seniors have it because they make more money starting out then they did and working 55 hours is better than the 70-80 hours they used to work? Instead they should compare what options they have available to them and what their goals are.

like

What kind of exit opportunities are there for tax senior? Looking into getting an MBA. Any thoughts?

Is anyone familiar with Deloitte TMC team? How does the work look like for the Corptax implementation and Altreyx? Please give some advice for the pros and cons. Thanks!Deloitte

like

First-year tax staff that started end of Q3, and just had my first year-end performance evaluation meeting. Still a blank slate in terms of tax experience, but I honestly do have a slight interest in international tax. Brought it up and I was given some names to find some work opportunities in that area. Besides SALT, any other specialized areas I should try to get some experience in? Also open to any tips and tricks to help tailor my workflow and experiences for the months to come.

like

Intl Tax folks, how long did it take before you were confident in your role? I've worked for the past 3 years in a practice that is heavily consulting based (inbound and outbound structuring) and I feel like I'm only just starting to understand the foundational concepts (where I can explain them clearly to clients) and offering a shred of value. Then I'll have calls where partners discuss complex tax, legal, treasury and other related concepts that all go over my head.. it becomes overwhelming

like

What’s EY’s cell phone policy? Pwc takes care of our monthly cell phone bills and gives an option to get new devices at great discounts once the contract ends. I’ll be moving to EY next week, anything that I should know? TIA EY

like

I have more than 12 years of tax attorney experience at biglaw and big4. Are there any big4 positions that pay more than 200k? National Tax? Anything else?

like

Do you all see a compelling future in your tax career? I’ll go first, I don’t see a compelling future working for a large PA firm in the long run because you have to work more as you move up. However, I do see a compelling future by using my knowledge and skills to open my own firm/business and work less hours as long as I make enough money which is $75k, or if I do work long hours, it’s because I want to.

like

If I received 2019 income in 2020, do I need to amend my return? I just received a K-1 for a few thousands that is for income earned in 2019. Not sure if I need to amend or if I can just put it in my

likehelpful

Through a lot of comp discussions I heard a lot of talk of “making you whole” when things get better. Am I drinking the kool-aid by believing this? Is this just meant to prevent further questions that the firm does not know the answer to?

like

I’m so stressed out I just randomly burst into tears…that’s not normal even for this profession, is it?

likeupliftingsmart

Whats the easiest way to start your own tax return preparation practice (part time at first) then maybe full time if worth it? Which tax preparation software is best to use? Or is it better to start off at HR block or similar places to learn some of the ins and outs before going solo?

like

Do you ever wish you could just go home at 6, play with your kids till they fall asleep, and then have a glass of wine with your wife before an early bedtime & sleep 8 hours?

likefunny

Can someone explain 704(b) in simple terms?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal