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Maybe I’m a bit bitter, but colleges always say big4 tax/audit or bust, but never talk about advisory even though it’s pretty widely considered more pay, less work. I know we should do our own research, but I feel like we’ve been lied to/betrayed by our professors and career counselors
Less lied to, more that they don’t know.
Advisory groups have only become popular in last 5 years. Likely well outside the window of experience of those professors.
When I went though school the mentality was audit or bust. Yet, when I was finishing my degree, the CPA orders opened up the articling requirements to not only other service lines but other employers. Really changed the dynamic of what an entry level accounting job could mean and subsequently changed what comp levels could be for those positions. Unfortunately, traditional audit roles are still stuck in the same mentality and terrible work environment and compensation.
Best to start in audit and tax and then make the switch in your senior or manager years to advisory. It’s tough to start in advisory and can go very poorly based on what I’ve seen
I would look around after your first busy season as a senior to advisory if you want to stay in public. I feel the same way going into my 4th busy season in a very high col(NYC). I mean you guys probably want to have babies soon and these tax/audit hours are rediculous.
Let’s just say that he hit 6 figures in his time as a senior (in a normal COL market) and I know from personal experience that even the top performing tax/audit seniors barely get close to that at a similar level 🙃
Are you comparing apples to apples? Most seniors I know in consulting are coming in with multiple degrees and often industry experience. If your s/o landed a consulting role straight out of school - I’d say they’re an exception.
Yup. I’m in advisory and it’s very challenging and we work pretty hard, but I was very surprised how little my colleagues in tax made. A lot of them went to industry after a couple of busy seasons and they got a nice pay bump with less hours and seem to be happier. But their Big 4 experience helped get them there.
There are tax groups that are in advisory that will pay you more like M&A tax
When you guys say advisory what do you mean? Cause In Deloitte I feel advisory and tax pretty much on par. But then we have consulting branch where the new hires make more than seniors.
I’m with you - advisory is a sub group in audit at Deloitte. I suspect the same label is used for teams more like our consulting practice.
Make less? Has anyone else ever felt this same way?
How much more does s/he make more than you?
Advisory vs audit — the pay gap is very wide ...to the tune of 30-50k at the senior level...Heard from very close friends in advisory
So for some naive reason I though that people would respond saying that “liking what you do is important” but maybe because that’s what I wanted to hear because I honestly do love taxation. But it seems like everyone agrees it’s kinda dum to stick around from a monetary perspective
At PwC there is core tax (tax return/tax provision prep), audit, and then advisory. Within advisory there are multiple tax consulting groups (not prepping tax returns/provisions or auditing the income tax provision but more tax strategy type work).
Interesting - Deloitte has specialty tax groups (most of which are an « advisory » type service), as well as a Corporate Advisory group within tax (provide non-specialized, general advice). However, comp across all groups is similar, and the staff in Core Tax and the Corporate Advisory group is often shared.
And to keep things clear as mud, we then have an Advisory group within audit (financial processes, human capital, systems selection, and complex transactions). That group would have higher pay bands than audit, but would be comparable to the tax bands (which are also higher than audit).
Finally... we also have our stand alone Consulting service line, where pay bands are the highest.