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38 and net worth only 750 k€. Am I behind?
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What are your long term salary goals?
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38 and net worth only 750 k€. Am I behind?
What are your long term salary goals?
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Not as long as PBC's are complete shitshows.
They might automate everything eventually, but it's going to take a while. My office still uses Windows 7.
They already are - tax department shrink every year ya'll. When people say automation "saves money", what money do you think they are talking about?
Anything with repeating steps will be automated in next 10-15yrs
Many jobs could be significantly reduced today but companies are generally nervous to push the initiatives due to fear of it impacting them directly.
Public accounting jobs will be sent to India
Youtube Ray Kurzweil or Andrew Ng, and you will learn so much about this topic
They are not going to spend energy upgrading your windows, they are going to outsource your whole team to a tech startup, its called managed services
As long as people have outdated manual processes and systems, some form of the job will exist. My expectation is that there will be a contraction at the F500 level and more competition with the mid-tier firms for the smaller, older companies that can't get onboard with blockchain, RPA, etc.
Make it to manager the exit. If your just shy of that stick it out.
Staff 1 to staff 2 thinking of exits...just go already.
So should I just quit my public accounting job now and switch careers. I don't want to stay for more than two years. If our roles are going to be obsolete before I retire shouldn't I have a plan B?
Services are about people and just because they can be performed by tech doesn't mean people will pay for that service. Also, data in is a huge factor. Features that should exist for importing/exporting data today don't. Think about how incompatible current systems are. There's money in making tech efficient but inefficient. Money trumps tech advancement.
Even if jobs are automated you still need humans to operate machines and review things. As long as the IRS, FASB, the AICPA etc make more rules I doubt we will be out of a job. In fact I am quite excited about accounting at present.
There are already algorithms that can read MRIs better than most Radiologists. The nice thing about a profession is that we as CPAs set our professional standards. AI doesn't quite fit in the auditing standards right now other than to possibly help with risk assessments, or to reduce substantive or control sample sizes.
Tax Manager 1- I agreed with you until I saw some studies on this. Humans would overwhelmingly rather be left alone and deal with a computer. Look at the proliferation of self check outs as of late.
@PwC 3, I agree that's true with our generation but a lot of the older generations I deal with really only want to deal with the partner. Some of it is relationship driven and some of it is feeding their egos.
Flip phones aren't a comparison. AI has been ten years away for decades now.
By 2025 AI will be able to translate languages better than human, data information discover jobs will be gone ! By 2030 AI bots will be as good as talking to a 12 year old who knows everything there is on the web. If you dont believe me just see what tech we had 10yrs ago, flip phones, nascent video chats etc
While machines will get increasingly better at performing repeatable and non-value add tasks, they'll never be able to replace human judgment and interaction. If you continue to hone your skills you have nothing to worry about.
OP out of curiosity what level office and los are you at the firm?