Really starting to wonder why people in PA are so underpaid? Hearing my friends, who work in other other industries, talk about their higher salaries almost makes me sick. They work 9-5, have less of a workload, and WAY more of a work/life balance. Not here to complain, just think this is a major issue in our industry and something to consider since turnover is supposedly at an all time high.

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Either you are grinding for the golden ring (partner) or you are sticking in for X years to find a top tier exit op. It’s that simple. Only your most successful and skilled friends who start in industry will reach the level of comp of partner.

The firms know this and are able to pay less because of it. I don’t know anyone who I started with who didn’t understand the deal being offered honestly.

I know plenty who didn’t truly appreciate how difficult the grind is (myself included) but that’s a different story. I’m still in it though.

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I have friends in tech currently (in my 20s) who work 9-5 (not even all the time, some have 4 day work weeks) have salaries of 150-250k , stock options and are moving up the ranks quick. Meanwhile I work around the clock , get told I’m so great, get Starbucks gift cards, tiny raises, and maybe will be promoted to manager this year.

Considering NPV of earnings now, vs, potential as a partner it’s hard to dispute , earnings now are king.

Anyway not sure what I will do with this info, just ranting at this point.

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Simple answer, is that they can. Every year people accept jobs paying $55k-$65k a year working 80+ hours and after they work those hours they still stay.

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LeArNiNg OpPoRtUnItIeS 😑

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Also a big factor in it: accounting has always been a cost center/support function of business. Part of management's responsibility is to be efficient with the company money and making a profit, which usually includes keeping support function expenses low. So basically there is no driver from upper management to ever increase our pay because of the relatively low value we add.

Comparatively, other industries would make the argument they directly add more value and warrant higher average pay; think doctors saving literal lives, lawyers saving the company millions in the courtroom, engineers literally designing safe bridges that people drive over daily with trust, finance underwriters drafting and filing legal documents with regulators/banks for hundreds of millions of dollars daily for transaction deals.

If you want to make more than average in accounting, you'll have to find your niche and prove your worth to upper management.

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Yes I wonder why too but it seems it’s only worth it if you’re ambitious and want to become partner or CFO on the long run…

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With the exception of software engineers, what are these supposed other jobs that have no downsides?

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Agreed. Above, the author listed a variety of industries that either involve sales or physical labor. You aren't making 120K/yr at age 30-35 working for the government, but you can very, very easily do that in PA.

I’ll echo what others have said about public accounting being a stamp on the resume.

Now with that being said I would never discourage someone from majoring in accounting but I would say add a Technology type minor or double to the degree. Get your masters in something technology ect.

smart

What other industry ?

IB burns a lot of folks. Agreed money is good but most do not stay to the VP level (450-500k starting VP all in comp)

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