Seems the public accounting model is cooked. It takes longer and longer to reach partner for a lower and lower reward. The model is outdated and we need more firms with a meritocratic bent, flatter hierarchy, and more robust incentive compensation structures. I predict these types of firms will do very well.

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

Eh I don’t think the monetary reward is less than it used to be. I think the length of time and amount of luck required has gone up, lowering the overall expected value, and I think the level of effort once you’re a partner is significantly higher.

like

Yeah I wasn’t super precise in my language. Partners still make a ton of money, but it takes a lot more out of you to get there now and the overall value proposition is worse.

like

Not sure what you mean the model doesn’t work. None of the firms seem to have an issue retaining enough senior manager, MDs, or partners. The model prefers to have people leave at those levels so that they are allies of the firm and hopefully bring in more work.

like

That’s the point. The 10% chance is a much higher income now. Expected value is much higher. If your life is work, then you’re not really changing much to work 70 and make multiples of 196.

like

I know firms are limiting the amount of new partner admits, because growth of partner distributions hasn't kept up with inflation. Many groups (at least in my office) are top heavy - 4 or 5 SMs per partner. So there is no way all of them will become partners. They can either be an MD, or leave

So I agree, the model is breaking down. And I don't know of any short-term fix to get the pipeline right-sized

like

They’re just going to toss out SMs but what’s the point in trying to become a partner now?

There are plenty of CAS leaning firms that have spun up in the past decade focusing on a less traditional model. They aren't at a scale and size to gain loads of attention yet but they are out there already.

Any of them worth noting? I’m looking to transition out of audit this summer and researching roles now.

You’re taken the red pill and finally see PA for what it is. Question is… will others listen or is it too late? ⏰

Related Posts

like

Experiential Marketing position, remote w/ some travel and 5 years of experience. Any idea of salary range?

like

Anyone from @Coforge, can tell me about Conveyance Allowance + LTA component in salary breakup. Is it fixed or variable? Is it paid with monthly salary? Does it requires manager approval? Can we claim it while working from home? Tata Consultancy Tech Mahindra Infosys Wipro HCL Technologies Coforge Coforge ltd.

How are the salary hikes at nagarro? I heard the hikes has decreased! If yes what can I expect after a year? I am 4 year experienced

Looking at switching roles from an automotive sales manager to a dealership relationship manager with a lender. Trying to get an idea of what salary/total comp looks like if I move to the lending side. Any insights?

like

I am transferring into the S&A A&C GPS practice as a C1, what salary range can I expect?

like

Just got offered a job at a small biotech in London (UK). ~£45k plus bonus but only 1YR FTC and no equity.

Pretty sure it's a discovery role too.

I just finished my PhD at a very good uni with 3 years technician experience before that. BSc and MSc also at very good unis with good grades.

I think this offer is well below par, but curious to hear what you guys think/if you have any comparisons?

Thanks in advance :)

like

Hi! The organization I have been interviewing for has recently put all roles on a hiring freeze BUT decided to offer me a contract role until it lifts (ETA Q1, 2023). My question is what would be reasonable compensation (full time 40 hrs, weekly).

The role is Sr. Digital Marketing & Strategy Analyst for med device company. I have 10+ YOE with undergraduate in visual communications and masters in Information Technology. TIA

like

What is the salary range for Sr. BA/Product Owner with secret clearance and 10+yr experience in Ottawa, ON.
Contract or full-time

like

I am currently in Wipro having CTC as 7.8 LPA.. I have got an offer from TCS which is 11LPA.However, my Basic Pay/Fixed compensation is getting reduced from my current base pay in the new offer and also the HRA is getting reduced. The HR is telling that the basic is fixed as per policy and they cannot change it. The base pay is less but there are several other components which are higher. Should I take up the new offer? Please help. Will the reduction in base pay impact my career?

like
like

Does anyone know the average salary for a senior consultant in finance with 5 years work experience in the LA area?

Hi fishes. Need advice. What is highest salary for senior business analyst in Credit Suisse India, Bangalore branch? Thanks.

like

Solutions Engineers Salesforce what does typical comp look like for base pay, stock, bonus? Do they accept counters?

like

Kind folks, I have 3 yoe in the Cyber security domain. Currently earning 7lpa. What should be a target salary and highest variation I can target?

Anyone out there do any Broadcast Operations work for live tv as a full-time job? If so, what are you making? I have trying to build a case for salary around $100k or in that range.

like

I am about to receive an offer from ADP Hyd. I have 12+ YOE. What is the grade that will be best suited as per my exp? I'm in AWS, My current sal is , 23L base 13L JB 100 RSU (comprising 29L ) should I get 48L from ADP? I already have an offer of 32L fixed+10L variable + 6.4L JB from Accenture as L7 Mgr/Sol Arch. Among Accenture & ADP what would be better? (I personally feel as Accenture is purely a service based organisation, a higher salary would be a little risky, not sure thou) ADP Accenture

Obligatory financial info post. 1) size of firm, 2) billable requirements, 3) salary, 4) bonus, 5) quality of life, 6) debt, and and 7) family/married/single. Go!

like

I recently received an offer at Accenture UK in Edinburgh as an L9 software engineering team lead. I have 3 YOE. Compensation package is £40, 000 base and a sign on bonus of £4000. What should I be expecting at this role? Is the offer good enough?

like

More Posts

Anyone do yoga as their primary form of physical activity? I love doing it, but to me, it doesn’t seem nearly as beneficial as doing cardio or strength training. My personal goal is to lose 8-10 lbs.

like

Goodness. Why are sofas so expensive? I’m saving for one but looks like every company outdid each other on pricing not in a good way

like

Transplants - what was the best way you met others when you first moved here?

like

How do u keep communication in a relationship if one person is emotional & other isn't (ex check-ins, how to recover from a fight, best way to not hold a grudge if something was said out out of anger)

like

Hi fishes,

Could some one Please help with in-hand salary with this E2 band structure ?

Post Photo
likehelpful

Anyone filed h1b in regular processing and changed to premium? If so, can you please help with the process and approvals required?

I got selected in the third round of H1B lottery for FY2022 (third round came out in November) Does anyone know when my H1B gets activated? Will it be automatically updated because it is well past Oct 1 or will it be Oct 1 2022??

like

I’m in Oracle Utilities functional design/implementation consulting. Anyone have any leads for opportunities in Toronto?
Interested in ACN or D Oracle practice.

like

anyone worked for NMG Consulting willing to share insights on the type of work performed? not a lot of material online and it seems like it’s more actuarial/financial risk consulting

like

Left McKinsey for a Fintech corporate last year. Really disappointed to see bonuses given out (cash is equivalent to half month salary, equity vested over 5 yes also not great) after getting the 5/5 rating and business doing well overall. Doubting my decision to come to industry. Is this the norm? Feels really low as historically variable has been a big enough component for me to pay down loans/invest.

like

Hi, How much can be saved for a family of 3(Me,Wife and a 3yr old) with 3.3K euro in hand. I am ok with putting my kid in a Dutch school but is there an disadvantage to him if we are moving back to India after 3yrs? Since books here will be in English.TIA

Hi all! I just moved to Austin and know absolutely no one. If you’re in your mid to late twenties and are interested in adding a queer girl to your friend group, let me buy you a drink! Shameless, I know, but you gotta do what you gotta do. My interests include Michigan football, bar hopping, water sports, and real estate 🙂

likefunny

Wanting to switch from litigation to in house. What should I make sure I do before I start applying? Do referrals from someone inside a company matter that much when applying? I'm burnt out, I need an escape from billables. Help me out!

like

What do you all think about AWS cloud practitioner
Cert? Not worth if I'm studying for cissp?

like

Any parents who are still on the safe side with Covid? We have a 1 year old and being safe and staying mostly home is really getting to me. Most of our friends have kids who are able to mask up or are vaccinated and it’s getting quite isolating. Especially now mask mandates are being lifted feeling like we can’t go anywhere without risking our kid.

Should I opt for online 2 yrs MBA from DY patil university? It is good or should I look for alternative. I am getting alot of calls from them. Please suggest. I have around 3 yrs experience in IT.

like

I want a good boy's pg within Deloitte to indiranagar area. Can anyone suggest good pgs?

like

I got admitted to hospital since I was unwell. How can I apply for cashless medical claims as I downloaded one form from general medical insurance plan. Can someone suggest me

like

Trying to transition from my full time job now to freelance. Anyone hiring? Good recruiters you know? 8yrs exp, background in tech/strategy/creative, worked in both small and large agencies.

like

Minneapolis, how's everyone doing?

like

Additional Posts in Accounting

Counting down the days until that Senior bonus hits my bank account so I can peace out .. so sick of this job

likefunny

Spell check in fishbowl is killing me - it keeps changing words without me noticing!

like

Does anyone else feel priced out of the market? The higher your salary, the harder it is to switch jobs

like

I really want to build rapport with my coworkers, especially my team. What conversation starter worked for you? Any advise would be much appreciated.

like

Auditors on their way to document why having 28 control deficiencies in the revenue process doesn’t aggregate to a material weakness

Post Photo
likefunny

EY, GT or RSM (Senior Position in Dallas) and why?

likehelpful

Anyone taken the CFE or CIA? Feedback is appreciated with respect to review courses and prep time. Thanks.

like

On a scale of 1-10, how “mature” would you consider the people in your offices/teams? In terms of acting their age, respectful, etc.

like

Monday morning always stress me out. Particularly with a very straightforward sr manager who points out something you missed in front of the whole team and client. 😫

like

Does anyone here work Seattle EY? what the assurance senior need?

like

Texas CPAs.....Question.... I am submitting my application for my license. Do I really need to take another 4 hour ethics course or does the 4 hour credit course I took in undergrad count??

like

Anyone dressing up for Halloween tomorrow? If so, what are you going as?

like

One EY Recruiter told me that the bonuses for senior are between 10 to 20 percent and last years avg was 17%. Can someone confirm? These numbers seems very high for PA.

like

Robotics / automation / bitcoin impact on the future of PA? Is there a place for us or should we start looking at other career paths? Thoughts?

like

What base salary comp should an experienced audit hire at manager 1 level at a big 4 expect? Think VHCOL (Bay Area/LA/NYC Etc.)

like

Anyone work at riveron consulting who can share their thoughts on working there? Thanks!

like

Anyone have their CFE? Just wondering what you have done or plan to do with it and what the test was like.

like

Do I work because I love my job? No do I work because it allows me to go on cool vacations and buy anything I want? Also no

like

Random: if you had the option of going to Ireland or Italy this summer for 10 days, which would you choose and why?

like

Is it bad to follow up after you counter a offer?

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