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36 / M / LA / 170k
Larsen & Toubro Infotech Hi All,
I have below offers:
Cognizant: 29(1.5 variable)
Deloitte India: 28(10% variable)
Mindtree: 30(all fixed)
I want to stay for longterm. Which can be a good option considering growth and wlb.
Please suggest 🙏
Yoe: 8.5
Tech: EAI developer
Cognizant Deloitte India Mindtree Larsen & Toubro Infotech Deloitte Tata Consultancy Accenture
I have some doubt regarding pf contribution... Say for example.. 12% of my base salary is 600 which gets deducted from my salary.. on the flip side.. the company has to contribute 600 to my pf (which is actually deducted from my salary only like already part of CTC)?. So my question again is that.. the company contributes 600 as well? PwC
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Can someone guide on this?
Bowl Leader
First time cooking steak. Yay or nay!
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Why are some people not into feet?
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If my recon doesn't add up, can I blame Russia?
What are raise amounts or percentages per year?
Anyone want to sell me their CFE books ?
I hope my manager rotten in hell!!!!😡😡😡
All right people. LET'S FILE SOME TAX RETURNS.
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Then you should have been an investment banker
The question you’re all getting down to is, “Why don’t the firms pay us more?”. I’m going to try to provide a really solid answer to that question. Ready? Here it is: They don’t have to. That’s really it. Why don’t they have to? Because you’re still here. Or to say it differently, your pay is clearly good enough to justify you sticking around. If it wasn’t, you would quit. If people are generally staying and not quitting (to the point that there is sufficient retention to meet staffing needs), then mission accomplished in the firms eyes. What added benefit would the firm get by paying you more? You being “happier”? You complaining less? News flash: the firm doesn’t exist to provide you with happiness, and they’re ok with the current level of complaining. This is a business, and the people running it are focused on the bottom line. As they should be. That’s how businesses work. And no, I’m not a partner. I’m a Senior 2 if you must know
@OP you lost me at "conspire"
I'm here for the entertainment. Which you are providing.
Please share more of your wisdom and theories with us.
I had a already passed all 4 parts when I joined and I know I was not worth $150k. Anyone who says otherwise is delusional
Why not? Lawyers start well above that level for merely passing a test.
Basic economics: supply and demand. We wouldn’t take a job if we were not ok with the salary. If you’re not ok with the salary, don’t take the job. If everyone stopped taking these positions for $75k all at once, firms would have to begin to offer more pay. But since that’ll never happen, we need to figure out if it’s worth being bitter over something we can’t control, or keep working crazy hours and sacrificing health to someday become partner.
I’ll stick with the latter. No point in stressing over something that’s out of my hands. I made my bed.
CPA is a huge accomplishment, but not on a level of a JD or an MD. One of the reasons they are paid more (lawyers skillset and billable hours shatter ours and more money in the pot). The only reason that the 150 hour rule and MAcc started was to try and glorify accountants to that level imo
^No you’re wrong. Partners start at $350k. The corporate jet and box seats are an expense to the partners, not a distributable income amount. I would gladly pay full health insurance and self employment tax to start at $350k. Also, what is so difficult to believe about a senior manager letting you know you’re being manipulated and underpaid?
There are a lot of unsubstantiated numbers in here. There is an AICPA MAP study that reflects what partners at various firm sizes and different regions actually earn on average. There is also information on general firm economics that hold true for most firms. For example, to know how firm revenues get used...1/3 goes to compensation...1/3 to benefits and admin costs...1/3 to partners. Not my opinion, it’s in the study. If you go to aicpa.org and search MAP study you can find it. There are also other available studies. That information will make it easier to have a discussion on a firm’s P&L.
*grabs tinfoil hat and popcorn*
Partners don’t want everyone to stay at the firm forever. They need to keep the pay low so employees leave. It’s the only way to make the public accounting business model afloat
OP in the house! You solved it!!
Dang OP I'm sorry! I underestimated you. I thought you was just cra cra, but you epic dumb too. Massive damage between the ears.
https://goo.gl/images/Eb735s
OP in the house! You solved it!
OP, I owe you an apology! I underestimated you. At first, I thought you were just cra. But you are impressively intellectually impaired as well. Massive damage between the ears.
So just higher half the people, double their pay. Win-win for everyone???
If you pass the CPA within the first year of start, you deserve more. Maybe not 125,000. But maybe a salary increase equivalent to one year advancement, or greater percentage increases annually. The bonus is not really my incentive for earning my CPA. I want to be knowledgeable and marketable.
I have 3 friends that graduated decent (not great) law schools making $150-170k their 2nd year. Nurse friends making $100k at 25. Accounting industry friends making $80k out of school. And this is in a low COL state.
Don’t fool yourself. Public accountants are hilariously underpaid until about senior manager. Essentially you sacrifice 8 earning years in the hopes of finally making decent money. But no one complains so the firms keep doing it.
PwC 1 agreed
Also getting into law school is competitive and expensive which is why they demand a higher compensation
I know several investment bankers in nyc and the amount of time they had to party all weekend while I was in the office was absurd. They certainly talk about working more than any of us
I agree with EY 11, 2nd years and 3rd years should receive a little more and 1st years probably a little less. They probably should tie a retention bonus for making it 2 years payable at the end of two years because of how useless 1st year staff is except doing the most basic of work.
Seniors should get a lot more and the currwnt shortage and economics speaks to that. Seniors generate the firm revenue and so there should be a stronger effort at retention.
I appreciate what OP is trying to illustrate and I generally agree overall PA needs an overall pay bump across the board.
It’s not a #freemarket when there are only four firms controlling most of it.
But it’s not 4 firms controlling the entire accounting labor market. The reality is that every company in the word needs accountants. BLS says there are 1.4 million accountants in the US. The big 4 only represents a small piece of that
Work fills the time available. Work won’t double for you if you reduce staff. In fact, a lot of jobs will get completed quicker and easier with fewer top level talented staff that are already CPAs (and not distracted studying for it). After reading this thread it isn’t the firm's that are the problem, it is the lack of belief in yourselves that is the problem. You’ll continue to be taken advantage of until you believe you are worth six figures.