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A samaritan is creating a dashboard for us to help understand the market standards for your skillset and help us to realize if we are underpaid!? And this helps us to negotiate as well
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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
Bruh
OP, does your name start with an R and rhyme with “ichard”, and are you located in Century City? Because I swear I know you
Even teachers get paid on a sliding scale through certifications and degrees. Does this happen at EY? I don’t know.
I have to apologize for my embarrassing typo above. My phone/connection/FB were all clutching -- probably reacting to the conspiracy being discovered. I tried to edit my higher/hire auto correct typo. I know it brought this thread down and I sincerely regret / apologize for that.
OP, you have convinced me that we do have a few extra bodies taking up space.
Manager 1 I’m trying. I also see how the firm does not directly profit from my MBA from the University of my backyard. But the CPA. That’s a recognized professional certification.
I have friends in finance, engineering, IT, Law, and Nursing that make 50-100% more than public accountants. Working 30% of the hours.
First years shouldn’t be making 6 figures. I’d say around $75k. Students that went industry straight off started at $70-80k. It should not take 4+ years to catch them.
Way waaaaay smarter 😂
All Partners don’t make millions. Many are overworked and underpaid
If you get your CPA within a year or before you even start, that's great. But a bonus is all that is appropriate at that point, because even though you have your CPA...You have no idea how to use it. You still gotta learn how to audit
Great suggestion. Lobby your state board to increase the education requirements and don’t allow practice before being licensed. The way to get higher pay is to shrink the supply.
Pretty sure you need to be licensed to be a teacher and I know they ain’t making six figures. What’s your point again? Op is definitely a Berner
Average lawyer makes less than someone at EY/PWC. The top echelon of Harvard grads? Yeah they start at 175-200. Doctors are life or death so yeah. Harder education. Health profession can’t risk reputation or the life of their clients on bad medicine. majority of accountants aren’t CPAs. We couldn’t get an audit done with less accountants around to change the pay grades. We are constrained by what the market will bear in terms of the value of our service. Take one partner pay check and spread of across the 50 engagement team members below them (or more) and you won’t get a big pay bump. You fail at comparisons. Apples and oranges. Guess they didn’t teach you logical fallacies in school.
Seems to be pretty typical these days, have zero clue about the real world but want to be appointed king too. Bottom line is partners have the ability to do 1,000,000 different value added services. As a new staff you are a drain on the system for the first 3 years, yes you provide little to no value at first. You get paid for experience and wisdom, period. Hard to have experience or wisdom when you’re playing clash of clans more than advancing your education and capabilities. PA is hard and requires busting your ass first 10 years in which the pay off is there if you can stick around. I know, it’s not as easy as mom and dad made it out to be
Just another note about Ivy League schools. There was a doe report that looked at the average salaries 10 years after graduating school, 10 years. Harvard was the highest which isn’t a surprise, at something like 71,000. Just food for thought.
How so EY12? He seems to think we are all worth a lot more than we actually are. It’s the white collar version of the $15 minimum wage
Some a hole at Chipotle is not worth $15 an hour for scooping guac and I wasn’t worth $150k a year because I could foot and cross foot
I recommend that everyone here start their own firm and make the money that they truly deserve. YOU DESERVE IT.
News flash RSM1, partners ‘at risk’ capital is minuscule. The results of the oligopoly of the Big4 is a big piece of the reason they make the disgusting sums they do.
EY11 and EY16: you are both nuts. These partners make gobs of money and there is no such thing as an ‘underpaid’ partner. They are all 1%.
Yeah don’t investment bankers practically work two jobs? If I wanted another job I’d just have one, right(
I don’t deny we don’t get paid enough but I have to deny we are worth 150k starting. It’s simply supply and demand.
The reason I think we are worth more though is the huge shortage of people in general in PA in some areas. My group of like 50 is trying to hire like 7 people for the last 6 months. Eventually everyone is going to leave and they’ll have to bend