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Anyone recently received a tax manager offer from EY ? I’m going through final interviews and want to see what your experience was like (negotiation process, initial offer higher/lower than expected?, did you give them a salary expectation range? How long did it take from final interview to offer etc) TIA!PwC EY KPMG Deloitte
Bowl Leader
Hi Guys, I am 5.5 years Java Developer and I have offer from JPMorgan Chase and Walmart .
Jpmc: 50% on current fixed + jpmc benefits Walmrat: 50% on current fixed + yearly bonus + stocks.
Please help me choose which will be better, mainly looking for brand value, work life balance and yearly hikes.
Rising Star
Bonus for EY S&O?
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Rising Star
Work sucks and I just wanna cuddle 🥺
Additional Posts in Luxury Watches
Rising Star
weekend pickup, digging the sunburst dial
Visual Storyteller
Visual Storyteller
NWA❗️
Got the call for this piece yesterday.
Visual Storyteller
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My first year I lived at home and used the money to buy a royal oak. No regrets
Did the same but for an explorer lol
I’m making around 70k, dropped a little under 10k for the new sub recently. I’ve had my eyes on it since high school but I’m in a unique position where I’m living at home, no major bills, got all my finances in check regarding saving/investing. It was def a big purchase and swiping that card felt surreal but I know it’ll last a life time and hopefully my kids one day.
Bowl Leader
Rule of thumb:
1. Ask your spouse if it’s ok.
2. If you’re not married, do whatever you want.
Jk, haha.
Better rules of thumb:
- Do you have high interest debt (e.g. Credit Card)? If yes, don’t buy the watch.
- Do you have at least six months of expenses in a savings account? If no, don’t buy the watch.
- Do you expect any large expenses in the near future (e.g. unreliable car)? If yes, don’t buy the watch.
- And my personal favorite, if you got fired tomorrow, would you still feel comfortable buying (or having bought the watch) the watch, or would you need to sell it? If you’d be stressed or have to sell it, don’t buy the watch.
This is the way.
Pro
It isn't about percentage of salary but rather how much you have available for discretionary expenses. Watches are a luxury good. Completely unnecessary, and not an investment. If you can afford to spend $5k on (for example) a vacation, you could instead use those funds for a watch, or any other discretionary purchase. If you can't afford that vacation, then you can't afford the watch. It's more about savings and whether you want to buy it, and can afford it, than overall salary percentage.
Pro
This is the right answer (unless you are asking how to figure out what amount you can consider discretionary spend more generally)
Rising Star
What amount of money could you set on fire and not lose sleep over? That’s the amount
I would hope we all fret setting money on fire, that could have been a watch.
Until I have fu money, I’m not setting any of it on fire 🤷♂️
Start thinking about your assets as assets. Watches have pretty easily determined depreciation schedules (or appreciation depending) and you can insure them. So long as you are comfortable with the depreciation— if it makes you happy you should buy it. It is just an asset like your house or shoes or car or cash in the bank.
@SA1 any suggestions on which brand/ collection in the $5-10k range even the pre-owned. Rolex Submariner date/Oyster Perpetual, Omega Speedmaster or Seamaster, Tudor, etc. or any other suggestion that I am not thinking of. (off course I love the look of Daytona but not in the budget)
Appreciate the reply!
Visual Storyteller
I buy every SS Rolex offered to me by my AD, $228k per year
Crazy unless you flipping them for a profit. Why not look at something outside of Role. If you spending that much...
Visual Storyteller
I was making 90k and bought a new Daytona for 14. Im also single with no kids, pets, or debt so I was able to risk/spend more
Spending 15% of your gross income on anything that’s not housing or 401k is probably questionable financial management.
Are you buying the watch to show off or to use as an everyday piece? Straight out of school might be pushing as you should probably be using cash for other things.
Thank you! I’m mainly here to learn but will help where I can.
Visual Storyteller
The way I look at it you never really own a Patek; you’re merely look after it until the the next generation pays it off with your variable life insurance policy 😖😩
If it’s your first luxury watch, you can make an exception - it’ll last you a lifetime, and you can look back at how hard you had to work to earn it.
Right now, this exception could be any one of the following (from my personal sub $4,500 ranking)
- Omega Seamaster Diver 300m
- IWC Pilot Mark XVIII
- Omega Seamaster Aqua Terra
- Panerai Luminor Logo
Most people in this bowl would argue that a month’s paycheck is a reasonable limit. These are great options in that range
This depends on who you’re asking, financial advisors would probably say no more than a couple hundred lol
Unless it’s an appreciating collectible that is
But we are watch fiends so we’re probably the biased group similar to yourself so we wouldn’t be able to provide an independent view as some other might be able to
You save more money if you don’t buy anything
Well it depends...
I make around 60.000€.
Last year I bought a sub for 10k which I sold for 12k last week 😁
Rising Star
It’s not about how much you make but more about how much you spend every month. Do you live at home rent, expenses and debt free?
Rising Star
Then wait till you are financially comfortable to spend 5k on a watch.
Okay, slightly different question, is there a level (maybe within consulting) where you look like a fuckhead having a luxury watch? I’m 1ish YOE started as campus hire
No, you’ll definitely be seen as a fuckhead.
There is no rule of thumb for these kind of unnecessary expenses. Go for whatever you can live with paying and sleeping like a baby
The only purchase that makes sense as an investment and luxury accessory is the material. If it’s gold or platinum it’s really just purchasing a nice usable form of that assets. If it’s stainless steel it’s just whether you really like it and there’s plenty of far less expensive watches you can purchase for that purpose. Finally, always by a certified Pre owned in, at least, “slightly worn” not less condition from a reputable seller, see Chrono or Tourneau, with the ORIGINAL
BOX AND PAPERS.
Bowl Leader
It’s impossible to accurately talk about this subject using generalities. We’d be better off making a detailed list of specific brands and models.
Almost all PP, AP, and Rolex Stainless sports models have a significantly higher secondary market price percentage growth over retail, relative to PM alternatives.
I get your point about the inherent value of PM, but if you’re selling a watch for the current market value of the weight of its gold, then it means you bought one hell of a dud. Reminds me of when this guy came into the store with a bunch of gaudy AF Piaget solid gold bastards that were heavy as hell, because they were solid gold, but we would only offer the price of the gold based on weight.
The brand, the model, the condition, the age, and the material all matter when it comes to trying to justify a watch as an investment.
You are over thinking it. If you like a piece grab it as long as it’s within your reasonable budget. Think from this perspective you will grow in you career and make more money but prices of these watches keep going up. I was in your similar boat I bought pieces that fit my budget then sold/ trade and got better ones. I have spent $60k over the course of 10-12 year and if I wanted to sell my collection I would get over $100k. Find some on the secondary market as well.
Bowl Leader
In some ways the ship has sailed for the “average Joe”. Or perhaps maybe the game has changed. Watches are on fire right now so it’s hard to find yourself, as the buyer, with any sort of advantage.