Why does public accounting under pay so badly? Kinda wishing I had gotten a job in finance instead

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They don’t underpay. Smart, ambitious, hardworking students keep lining up at the career fair to sign up for 55k and 80 hours / week. I’m a manager and I make significantly more than the jobs recruiters reach out to me about. Accounting is not a way to get rich. It’s a way to not have to worry about money.

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^ That’s not accurate. There is a pension but it’s not guaranteed to be that high or for that long.

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I believe it’s 30% of the average of your five highest paid years. Not sure about how long it lasts, but I was under the impression it was for life

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It’s a lot harder to get into finance than accounting

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It does in the early years. I knew a VP of Fin at a bank & a President at another bank that both went into B4 PA. Their reasons were the same... that pension that pays the avg of your 3 highest grossing years — paid out until you die.

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I heard its till the age of 70 and is 70% of your last years comp.

smart

62 here

smart

If you think you are underpaid you are ill informed. I’m 26 and make 6 figures all my other friends make an average of half that.

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Def

Jobs in finance that pay more also make PA hours look like a light schedule

funny

That wasn’t meant as a general comment about other jobs that pay more. It was specifically about the majority of the investment banking ones

Banking hours are basically the worst busy season you’ve had + 10 hours every single week of the year with like 3 days you can realistically take a vacation. Most of my friends in IB are seriously regretting their decisions at this point.

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Bankers also make 3x as much

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