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I think accounting programs really emphasize getting into big four and you’re sold on “the dream” so early
So so many accounting students buy into it because of the prestige factor so there will always be a continuous input of fresh young talent that want this job.
It definitely does. Way higher than certain people who have to rely on ad hominem to get point across.
The salary takes into account overall total anticipated hours. If they wanted to pay us hourly, we would make significantly less per paycheck for a majority of the year. By paying us salary, it’s steady income even when we’re working 40 hour weeks. We’re not the only profession who has exempt employees. Do I agree they pay below market rate and now there are year-long busy seasons that nobody signed up for and other systemic issues that need to be resolved? Yes. But they didn’t “get away with” anything.
Even if we are just working 40 hours, the salary use to be significantly low.
You aren’t supposed to stay long. You’re supposed to leverage the experience into a higher paying role.
Prestige
Marshmallow test. All things being equal, future earnings make it worthwhile.
B4 experience can be thought of as a 2-year vocational apprenticeship. Not a career in and of itself, but an extension of the schooling process.
The barriers to entry for doctors and lawyers are higher than accountants. Doctors are 10-14 years, lawyers are 7 as opposed to public accountants at 4-5 years.
My reference to the marshmallow test is with regard to delayed gratification for greater future benefit. That is the model that public accounting runs on. Unless one is a masochist, one exits to a better paying, better WLB industry job.
D1 - Not sure why you are so salty about this. I am not saying that the massive overtime on salary model is right, I am just saying that's how it works. That is how they have gotten away with it for so long.
My last question would be... who hurt you that you would react so vehemently?
Lingering cultural impacts of the ‘08-‘09 recession
Is it really low?
Here in Houston, big 4 doesnt pay top rate but easily be in 75% percentile for entry level. After 5 years, you hit 6 digits in your mid 20s, which is the dream of many people, for a career that doesnt require special talents.