So many people are quitting. I understand why. We are underpaid, industry jobs offer more money and more work-life balance. Are these firms going to do anything to prevent this from continuing?

like
Posting as :
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No

likefunny

Nope not as long as college grads think big4 is a good career choice.

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This is built into the model of public accounting. This will never stop happening. It is the reason why you get promoted every 2-3 years.

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I don’t really buy into the idea that we are about to enter a recession. Economic data is showing a great job market and wages are rising at a faster pace than they have in previous years. We have really low unemployment number making a competitive job market. Of course at some point a recession will occur, but no indications of it being any time soon.

likeuplifting

Oil prices are in the gutter which is also apparently a sign that things are going well for the market at large.

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We’re about to enter a recession and data analytics/automation of like half of our jobs is taking off at a breakneck pace. Sadly, the turnover right now is helping to keep PA from going through a slag of layoffs- it’s really doing the firms a favor, instead of the legal costs and burdens associated with laying us off.

likesmart

The firms think that throwing more benefits at the seniors will help with retention. This is a mistake, the only thing that will help is not spreading the staff so thin.

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*Leveraging* is the business model

funnylike

I was a college hire to PwC before transferring to KPMG (which has been just as bad). The thing that amazes me is how positive the recruiters and all the associates were at every point in the recruiting process. After I started, it was a complete shift and 95% of the people I worked with seemed constantly stressed and hated their jobs. My questions is how were the recruiters and associates they brought able to lie straight to our face and never get caught?

likefunny

It's the koolaid! Misery loves company

No- I went to a different firm specifically as my raises were abysmal and I had the 5th highest charge hours in my LOS for the region for my level.

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We are in the midst of an extremely hot job market. It’s not necessarily a sign that the entire B4 model is completely flawed. The firms are trying to find ways to better retain talent but industry jobs always offer more $$ in the short term, but not always in the long term

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The short term and long term are no longer relevant when you leave to industry leaders. Their initial salary raise, yearly raises, and bonuses are consistently higher. Unless you are on the never-ending ppmd track

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As EY5, etc said... This is a feature of Big 4, not a bug

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This is the business model. This is nothing new. Same cycle has been happening for all of eternity in public accounting

Rinse and repeat. Wise up and move on.

How about you OP? Will you be joining the exodus?

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