[Anonymous]

Or have some sort of actual weekly limit in terms of hours. Not only in accounting/finance, but in so many fields employers simply hire one individual for two jobs. Does anyone else feel this way? It’s pathetic when I work until 1 am some nights for no overtime. I feel like I’m being used.

[Mayo]

Personally, I hope it doesn't change. Can you imagine how much a hit the economy would take if companies had to pay overtime on all positions?

Yeesh. OT hours would be slashed yeah, but layoffs would definitely be around the corner as well as quite possibly salary adjustments. .

Mayo, BBA, Macc

[Mayo]

Personally, I hope it doesn't change. Can you imagine how much a hit the economy would take if companies had to pay overtime on all positions?

Yeesh. OT hours would be slashed yeah, but layoffs would definitely be around the corner as well as quite possibly salary adjustments. .

Mayo, BBA, Macc

[Study Monk]

Mayo,

If those articles about 75% of CPA's retiring are true than demand would still stay high keeping wages and unemployment at least reasonable. Part of the problem is that partners aren't sharing enough of the pie, but that is not likely to change so I will focus on other things. If overtime was paid than the average public accountant would be more efficient because they would be more happy and more experienced due to a lower turnover in the industry. This efficiency increase would take time, but in the long-term would result in a better product provided by more competent employees and this would offset some of the overtime costs due to higher productivity and higher billable rates to clients.

If overtime was regulated by the government then the market would adapt and the demand for auditors would increase. It is likely that more tax jobs would be outsourced over seas, but local firms with smaller clients would hire more tax accountants to lower overtime cost while still specializing in personal service. Again the retiring CPA's might keep salaries high as supply goes down, and the loss of tax professionals overseas may be offset by these new openings. If this void does not make up for the loss of tax jobs than any decrease in salaries would bring down the supply and more accounting majors would choose audit. Most people that are tax accountants now would probably be seniors by then and would still have a job reviewing the returns processed overseas, or would take on the role that baby boomers once had. There would simply be less entry level positions.

If overtime was required to be time and a half than firms would hire more employees not less. Right now public accountants are doing the work of at least 1.5 people and not getting paid for it. Once employees are required to get paid 150% more for some of their work hours the firms will prefer to hire more people to bring down their overtime cost. The increase in demand of public accountants(auditors, and don't forget advisory) because firms finally have incentive to hire more employees(again to avoid over time) would have a positive impact on wages assuming supply stays the same. The overall wage impact is a mystery, but the better work life balance is easy to determine. On a macro level requiring overtime for all employees results in lower unemployment in industries that can't be outsourced(audit) and higher unemployment in jobs that can be outsourced(tax).

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Study Monk]

Mayo,

If those articles about 75% of CPA's retiring are true than demand would still stay high keeping wages and unemployment at least reasonable. Part of the problem is that partners aren't sharing enough of the pie, but that is not likely to change so I will focus on other things. If overtime was paid than the average public accountant would be more efficient because they would be more happy and more experienced due to a lower turnover in the industry. This efficiency increase would take time, but in the long-term would result in a better product provided by more competent employees and this would offset some of the overtime costs due to higher productivity and higher billable rates to clients.

If overtime was regulated by the government then the market would adapt and the demand for auditors would increase. It is likely that more tax jobs would be outsourced over seas, but local firms with smaller clients would hire more tax accountants to lower overtime cost while still specializing in personal service. Again the retiring CPA's might keep salaries high as supply goes down, and the loss of tax professionals overseas may be offset by these new openings. If this void does not make up for the loss of tax jobs than any decrease in salaries would bring down the supply and more accounting majors would choose audit. Most people that are tax accountants now would probably be seniors by then and would still have a job reviewing the returns processed overseas, or would take on the role that baby boomers once had. There would simply be less entry level positions.

If overtime was required to be time and a half than firms would hire more employees not less. Right now public accountants are doing the work of at least 1.5 people and not getting paid for it. Once employees are required to get paid 150% more for some of their work hours the firms will prefer to hire more people to bring down their overtime cost. The increase in demand of public accountants(auditors, and don't forget advisory) because firms finally have incentive to hire more employees(again to avoid over time) would have a positive impact on wages assuming supply stays the same. The overall wage impact is a mystery, but the better work life balance is easy to determine. On a macro level requiring overtime for all employees results in lower unemployment in industries that can't be outsourced(audit) and higher unemployment in jobs that can be outsourced(tax).

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Anonymous]

Just a few thoughts while I eat my supper at my desk, Chili Cheese Frito's and a Coke tonight, not trying to stir the pot…

First, all of these figures being thrown around with K's behind them don't really mean squat until you put a zip code with it. $100K is a TON OF FREAKING MONEY in 71449, but in 10007 it's almost the poverty level.

Second, I understand not working someone to the bone, believe me, I get it. BUT, I'm on the other side of the table now. How much time gets wasted in a typical work day that bosses shell out payroll checks for every week? Being on the clock and actually working are two different things. As the employer, I'd be happy to pay overtime, IF I didn't see my employee on Facebook, Twitter, Tumblr, Reddit, or shoe shopping on my dime. Now if I see those sites pop up, I'm going to have to assume that my employee isn't making me any money so why should I shell it out? If I don't work, I don't get paid. If I don't get paid, I don't pay my bills. If I don't pay my bills, my family will mutiny and my creditors will hound me into an early grave. If I'm dead my employee has NO FREAKING JOB to complain about.

Anyway, these are just my thoughts on the subject, and now my Frito bag is empty so I'm going to get back to work. Sometimes it sucks to be the boss, especially going on hour 15 of the workday and it's only 6:45pm.

[Anonymous]

Just a few thoughts while I eat my supper at my desk, Chili Cheese Frito's and a Coke tonight, not trying to stir the pot…

First, all of these figures being thrown around with K's behind them don't really mean squat until you put a zip code with it. $100K is a TON OF FREAKING MONEY in 71449, but in 10007 it's almost the poverty level.

Second, I understand not working someone to the bone, believe me, I get it. BUT, I'm on the other side of the table now. How much time gets wasted in a typical work day that bosses shell out payroll checks for every week? Being on the clock and actually working are two different things. As the employer, I'd be happy to pay overtime, IF I didn't see my employee on Facebook, Twitter, Tumblr, Reddit, or shoe shopping on my dime. Now if I see those sites pop up, I'm going to have to assume that my employee isn't making me any money so why should I shell it out? If I don't work, I don't get paid. If I don't get paid, I don't pay my bills. If I don't pay my bills, my family will mutiny and my creditors will hound me into an early grave. If I'm dead my employee has NO FREAKING JOB to complain about.

Anyway, these are just my thoughts on the subject, and now my Frito bag is empty so I'm going to get back to work. Sometimes it sucks to be the boss, especially going on hour 15 of the workday and it's only 6:45pm.

[NYCaccountant]

Def. agree @kricket salary depends on where you live.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[NYCaccountant]

Def. agree @kricket salary depends on where you live.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[Anonymous]

Macklemore kind of sums it up.

https://www.youtube.com/watch?v=38YCCSaMzKg

[Anonymous]

Macklemore kind of sums it up.

https://www.youtube.com/watch?v=38YCCSaMzKg

[fuzyfro89]

A question to the community, does anyone think this situation is unique to accountancy?

I get the impression a lot of recent grads have been fairly dissatisfied over the past 5 years with what they ended up doing. Bankers have had their bonus ranges cut. Marketing, economics, management, and other business majors have had tougher times finding work. The bright spots are probably in IT/software engineering.

I've read many articles suggesting the number of dissatisfied workers has been steadily growing since 2009 across all fields.

[fuzyfro89]

A question to the community, does anyone think this situation is unique to accountancy?

I get the impression a lot of recent grads have been fairly dissatisfied over the past 5 years with what they ended up doing. Bankers have had their bonus ranges cut. Marketing, economics, management, and other business majors have had tougher times finding work. The bright spots are probably in IT/software engineering.

I've read many articles suggesting the number of dissatisfied workers has been steadily growing since 2009 across all fields.

[teeteenounouche]

Just my observation…

I have two cousins (males) who graduated in MIS and CIS. Their salaries have steadily grown and along with their position titles. One moved around a few cities and companies to move up and the other worked his way up in one company. Both work late hours/weekends on a regular basis.

From the accounting folks I went to school with and keep in touch with, the males are doing better than the women. The women who have risen steadily have no children.

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[teeteenounouche]

Just my observation…

I have two cousins (males) who graduated in MIS and CIS. Their salaries have steadily grown and along with their position titles. One moved around a few cities and companies to move up and the other worked his way up in one company. Both work late hours/weekends on a regular basis.

From the accounting folks I went to school with and keep in touch with, the males are doing better than the women. The women who have risen steadily have no children.

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[Study Monk]

@fuzyfro89

Without going on another rant part of the problem is that new generations have access to the web. In the olden days you might know a few people with better jobs and better pay, but on this site alone I have seen at least a 100 people with better jobs than I ever had. You then have all these people working 90 hour work weeks reading about higher salaries for people with the same degree who work 40 hours per week. In the olden days know one knew any better and ignorance is bliss, as the saying rightfully goes.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Author]

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