[Anonymous]

how common is over time pay for staff member at cpa firms?

[acamp]

I'm racking up tons OT as we speak–paid in “valuable experience” LMAO!

Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

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California CPA

[Anonymous]

I figure it isnt a very popular idea for most firms. Only reason I ask is because the firm that I applied for told me they offer overtime, which is a very rare thing.

[acamp]

See if you can find anyone working there to see how realistic it is, ie: Is the base salary lower to make up for it? Is the system designed to discourage it? For example, do people get flack for reporting these overtime hours? If someone ate a bunch of hours at some point, ie: took 100 hours but reported 80 hours, now its budgeted at 80–will you face scrutiny for being “25% over budget” when it takes you 100 hours and you want your overtime pay?

…just exercising a little professional skepticism 🙂 Hope everything works out for ya

Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

Becker Videos: [AUD - 82]

California CPA

[Anonymous]

base salary is comparable to most big 4/ mid teir (50k range). The system from what I heard is lower hours than most cpa firm (around 50 hours for busy season). I accepted the offer, but I dont start till later. They seem like a smaller regional firm, but the compensation package looks very good.

The thing is I never heard of over time for cpa firm. So I'm just wondering if anyone else heard of any firm that offers this?

[Da Bears]

Big4 don't, the hours worked would violate Fair Labor Standards Act except it excludes professional services haha studying for REG currently 🙂 not paid hourly either

FAR- 8/14/12 91
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[nataliamw]

my med sized regional firm does pay for overtime (at a straight time rate), but the system is set up on an hourly schedule, even though we are on a salary basis (must work min. 40 hrs in slow season, taking time off is counted in a number of hours, comp time, etc.) and the salaries as such that only after working 40 hrs a week and 56 during tax season, does it put accountants in the 50K+ position.

[Mayo]

@Da Bears, I think the Fair Labor Standards Act requires overtime only to covered non-exempt employees. I don't think financial services is a factor here.

@OP, I think its strange that they pay OT, but it might be a recruiting tool to try and snag some top talent. I wouldn't expect to get a ton of OT hours though. Still, if base salary is comparable to big 4 that's a pretty good deal.

Mayo, BBA, Macc

[Mayo]

@Da Bears, I think the Fair Labor Standards Act requires overtime only to covered non-exempt employees. I don't think financial services is a factor here.

@OP, I think its strange that they pay OT, but it might be a recruiting tool to try and snag some top talent. I wouldn't expect to get a ton of OT hours though. Still, if base salary is comparable to big 4 that's a pretty good deal.

Mayo, BBA, Macc

[Anonymous]

OT would be nice. I've been hovering 50-55 since I've started work and it isn't busy season yet. Hopefully bonuses IF they trickle down from the partners to us peons =)

[MRSJLeon917]

@OP – I used to work Big 4 and I wished and dreamed for OT because I would work up to 100 hours a week at times and had a couple all nighters in there. It definitely is not common but as ‘acamp' said, be careful that they don't come down on you for reporting OT. I know even in an environment where we weren't paid OT, people did “eat” hours because everyone was very big on the budgeted hours and the recovery on the client (usually worse with smaller clients) and no one wanted to feel like they sucked at life by spending too much time on a client.

@CashMoney – Don't hold your breath for bonuses either….they seemed to be few and far between and nothing excessive when we did get them when I was in public. We got paid more in food and alcohol than actual money 😉

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IL Licensed CPA - 7/15/2013

A long journey, officially DONE!

[Author]

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