{ "media_type": "text", "post_content": "Would you go to industry for a paycut? I’m a S2 in NYC making 118 and an in house position is offering 105. I’ve only heard of jumping for a raise, never for a cut but I know we are being priced out in the market right now. Heard market rate for seniors in NYC is 95. Just trying get some WLB", "post_id": "61209f5bf8c8a30023aa8e82", "reply_count": 17, "vote_count": 5, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting" }

Would you go to industry for a paycut? I’m a S2 in NYC making 118 and an in house position is offering 105. I’ve only heard of jumping for a raise, never for a cut but I know we are being priced out in the market right now. Heard market rate for seniors in NYC is 95. Just trying get some WLB

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We are not being priced out and never leave for a pay cut. How many years will it take for you to make up that 13k cut? Don't ever go backwards.

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Make a pros and cons list...and share with us, bc I'm nosey.

funny

Been doing this a while -- everyone wants Big 4 trained individuals. 99+% of time - you should be leaving for a minimum of double digits .

likesmart

Don't go backwards. Need to consider your long term goals too. Very hard to leave Big 4 directly for top-level (VP/SVP) executive positions. Will almost always need industry-specific experience to get there, which you'll never get by staying at Big 4 your whole career. By staying longer you gave a better chance of jumping to a higher position in industry, but stay too long and you may be priced out of many roles (i.e., have to take a pay cut to exit Big 4), which can be difficult to do for many. Every situation is different obviously. I've seen people "stay too long" and get stuck, but I've also seen people "stay too long" and land an awesome opportunity with stock options and such at a client or through an alum at the firm. No crystal ball here - but I would advise against leaving for a pay cut. There are almost always good exit opportunities available at every level, until you get to SM3/4 and up - at which point you may be able to jump to a Director level role in industry, but it might be a pay cut depending on the circumstances.

likesmart

Thank you for the insight!

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Your a 2nd year senior making 118k? So you can’t be in audit. I think we need a little more info to help you here. Are you in tax or advisory? Your an s2, so you have 4 years of experience? There is a war on talent, so that doesn’t sound like there should be a $95k ceiling.

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Don’t leave for a senior position. You can get a manager level position for sure.

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At senior you shouldn’t be taking a cut. The position just ain’t right. At SM you can get good gains in rsu while base comp might be a cut of some sort. Director and senior director and MD are roles you should look for depending on your specialty and what department.

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Don’t do that. You can find a better position with a raise and less hours. Just gotta be patient and work at it.

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Absolutely no reason to take a pay cut. Know your worth and ask for it. If the company doesn’t accept your counter offer move on. The market is SO hot right now, they should and are paying a premium for top talent like big 4. I would advise spending a few minutes putting all comp details about your current position (eg wealth builder, firm hsa contributions, etc) on paper to better compare to the complete comp offer from other firms. Will make it easier for you to see what parts of your comp you could negotiate and what you are giving up in near term if you’re close to milestone bonus etc.

helpful

Is the 105k just base compensation? Any bonus, stock, etc. included? What about other benefits, how do they compare?

Just Base comp. bonus 10k, benefits comparable to PwC.

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Tell the company you are very interested in the position but aren’t prepared to take a pay cut.

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