Related Posts
More Posts
Additional Posts in Accounting
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Download the Fishbowl app to unlock all discussions on Fishbowl.
Copy and paste embed code on your site

Scan your QR code to download
Fishbowl app on your mobile

EY stopped overtime in 1997. The starting salaries and raises in Oct97 incorporated the switch from getting paid OT to a straight salary. It is never coming back to the B4, or other firms, I imagine.
I assume positions were re evaluated at some point to determine if positions were exempt or non-exempt from overtime under FLSA. My understanding is that CPA positions are exempt from overtime
its been litigated several times in states like CA and associates and even seniors have been found to be non-exempt, but pwc makes employees signed a forced arbitration clause that precludes employees from forming a class action lawsuit. pwc knowingly violates labor laws because its cheaper to just settle individually
Chief
Uh, pretty sure this has been litigated tons of times with the opposite result you’re saying.
The entire purpose of requiring employees to be CPA candidates is that it’s the primary defense against claims they’re non-exempt. You’re requiring they maintain a speciality license or be in the process of obtaining it. That pushes them into exempt.
We were paid overtime in the early 90s. We banked the first 80 hours (to use as extra PTO) and were paid overtime the rest of the year. It was over by mid to late 90s. We got a decent pay raise to account for the overtime and they increased our PTO by 80 hours.
From memory, PW (pre PWC days) was the first to eliminate overtime. I remember because Arthur Young (pre EY days) paid OT. We lost a number of candidates to PW because it looked like PW paid more.
I don’t think major firms will ever go back to paying OT to staff.
BTW, until the late 70s or early 80s, major firms had you ‘bank’ your fist 80 hours of OT as comp time (additional vacation). If you didn’t use the time you got paid the following year. Really delayed getting paid!