SOS really need help making the decision to stay in big4 or leaving. I am being given the opportunity to work at FAAS at EY and I currently work as an auditor for a different big4. I want REAL work life balance and a more dynamic role. Can anyone candidly speak about the FAAS practice at EY—pros and cons? EY
Rising Star
I don’t work at EY or in FAAS at another firm, but I can almost guarantee you will not find work life balance in a role like that in public accounting.
If you want an immediate pay bump and to make your exit to industry more lucrative, do a couple years in FAAS. If you are ready to cash out and you just want WLB, head straight to industry.
I think it definitely opens a lot of doors as there are a variety of consulting type of projects and topics you can do in FAAS (i.e. SPAC/IPO/M&A, Finance Optimization, Sustainable Finance, etc.). Having those experiences would definitely open up a whole lot of doors than audit. I would even argue that there is a common exit opportunity in FAAS.
There is certainly not work life balance in FAAS unfortunately. There isn’t a typical busy season like in audit, but instead it is more consistently busy throughout the year.
It depends on the types of engagements that you get put on. Some people get somewhat lucky with better hours than audit, some aren’t any better than audit, and some even get put back on audits when there is a need. There is an element of unpredictability being in FAAS because you could be on a long engagement, or you could be on one for a few weeks, which doesn’t allow you to predict a schedule very well. However, this is just my experience. There are a large variety of types of engagements in FAAS so depending on office, region, etc. you could have a very different experience.
With the current market, FAAS is working crazy hours, not better than audit. No wlb, that’s for sure. I know a few are burnout and are leaving.
The nature of public accounting and client services doesn't really allow for what you're looking for. You'll need to go to industry to get what you want.
If you’re being recruited for FAAS at EY for their GOS practice, then you probably won’t work more than 40/45 hours a week. I work really closely with the FAAS team on my project and everyone in the GPS practice loves it. Work experience and pay is great too, despite rumors to the contrary.
They’re recruiting heavy in GPS right now, even for my team.
Yep sure does, isn’t just restricted to dod. Also lots of work with states
Depends on which aspect you want more, FAAS is definitely a “dynamic role” because you’ll be working on all sorts of different projects within FAAS or cross service line with Consulting in topics mentioned above (eg Strategic transactions, finance optimization, etc). Of course some projects are crazy hours because of an urgent client need. But usually it’s supposed to be 45-hour. However, I think work life balance is just somewhat against the client serving/billing nature of work. Starting at the FAAS Senior level, you’re expected to help with sales and business development, so that’s 5-10 non chargeable hours beyond your normal 45 hour chargeable requirement. That’s what makes your days/weeks longer.