[Anonymous]

Hi all,

I’ve been reading over a few posts and keep seeing people say that “people don’t want to go INTO public accounting, but instead start in public accounting and then leave to private or industry.” Can someone please tell me why this is the case?

I recently graduate from undergrad in June and was just offered my first job in public accounting at a small/mid sized firm in the Seattle area this past weekend. Starting pay is $54k + benefits, which is pretty good, so I don’t see why people want to LEAVE public? Or am I just naive and oblivious? Basically I am asking what the Pros/Cons of public are. Lol, any help is much appreciated. Thanks all.

[KADFC]

I want to know too. The thing I can think of is that the workload is too heavy and it takes too much out of their personal life. Someone feel free to correct me.

FAR - 62 (10/2/13), 50 (5/30/14)
AUD - 73 (10/30/13), 66 (5/6/14)
REG - 69 (4/8/14)
BEC - 66 (2/27/13), 73 (4/21/14)

[KADFC]

I want to know too. The thing I can think of is that the workload is too heavy and it takes too much out of their personal life. Someone feel free to correct me.

FAR - 62 (10/2/13), 50 (5/30/14)
AUD - 73 (10/30/13), 66 (5/6/14)
REG - 69 (4/8/14)
BEC - 66 (2/27/13), 73 (4/21/14)

[Anonymous]

Workload. Talked to an associate last year during my internship who worked every day for 8 weeks straight (7 days a week) during busy season. I've heard similar horror stories from others as well. I just started a couple weeks ago and there's already other new-hires staying till midnight every day. The starting pay is pretty good for a college grad but it doesn't justify the long hours. Maybe I'm just being pessimistic, but I'm starting to suspect not having any sort of social/dating life from January to April. People get burned out after a few years, and you can jump ship to jobs that not only have much more reasonable hours, but also pay better.

You don't start making the big bucks till you make partner, which is very difficult in and of itself, and also 12-15 years down the road. Public accounting looks great on your resume though, and can open doors even if you've only been in a couple years.

[Anonymous]

Workload. Talked to an associate last year during my internship who worked every day for 8 weeks straight (7 days a week) during busy season. I've heard similar horror stories from others as well. I just started a couple weeks ago and there's already other new-hires staying till midnight every day. The starting pay is pretty good for a college grad but it doesn't justify the long hours. Maybe I'm just being pessimistic, but I'm starting to suspect not having any sort of social/dating life from January to April. People get burned out after a few years, and you can jump ship to jobs that not only have much more reasonable hours, but also pay better.

You don't start making the big bucks till you make partner, which is very difficult in and of itself, and also 12-15 years down the road. Public accounting looks great on your resume though, and can open doors even if you've only been in a couple years.

[UCMCPA]

My manager that I had for my internship was just starting his 6th year but left public, or will be leaving at the end of this month. He was offered a 150k + stock option position at a company and couldn't turn down the pay raise and reduction in hours.

The reason people leave public is the great salary increase you get from the public experience. You're literally doing 2-3x the workload of someone that works a 40 hour week in a private company. When you compare someone with 5 years of private to 5 years of public, I'd guarantee the public employee has worked more and cranked out much, much more.

FAR - 84
AUD - 94
REG - 86
BEC - 86

[UCMCPA]

My manager that I had for my internship was just starting his 6th year but left public, or will be leaving at the end of this month. He was offered a 150k + stock option position at a company and couldn't turn down the pay raise and reduction in hours.

The reason people leave public is the great salary increase you get from the public experience. You're literally doing 2-3x the workload of someone that works a 40 hour week in a private company. When you compare someone with 5 years of private to 5 years of public, I'd guarantee the public employee has worked more and cranked out much, much more.

FAR - 84
AUD - 94
REG - 86
BEC - 86

[wizards8507]

See the articles below for more examples but here's one: A friend of mine is working at a Big 4 firm and it's common practice for a list of all Associates and the number of billable hours they've logged to be sent out to the entire staff so that people are compared to one another and forced to compete, not on quality of work product, but on raw hours worked. Many of the offices have the same “bro” and “chickie” fraternity/sorority clique culture that many of us were glad to leave when we graduated college. Success is about logging hours and kissing a**, not about talent and hard work.

https://www.examiner.com/article/pwc-deloitte-e-y-and-kpmg-big-4-employees-modern-indentured-servants

Read the comments.

NY CPA

[wizards8507]

See the articles below for more examples but here's one: A friend of mine is working at a Big 4 firm and it's common practice for a list of all Associates and the number of billable hours they've logged to be sent out to the entire staff so that people are compared to one another and forced to compete, not on quality of work product, but on raw hours worked. Many of the offices have the same “bro” and “chickie” fraternity/sorority clique culture that many of us were glad to leave when we graduated college. Success is about logging hours and kissing a**, not about talent and hard work.

https://www.examiner.com/article/pwc-deloitte-e-y-and-kpmg-big-4-employees-modern-indentured-servants

Read the comments.

NY CPA

[UCMCPA]

Always interesting to read the horror stories people had as interns/associates at the Big 4.

I'm wondering how long I will last lol

FAR - 84
AUD - 94
REG - 86
BEC - 86

[UCMCPA]

Always interesting to read the horror stories people had as interns/associates at the Big 4.

I'm wondering how long I will last lol

FAR - 84
AUD - 94
REG - 86
BEC - 86

[henryv]

Health>work

without health, you won't enjoy the fruits of your labor anyway.

https://articles.economictimes.indiatimes.com/2011-06-05/news/29621119_1_overwork-work-related-wang-yue

FAR - 92 02/2013
AUD - 90 05/2013
REG - 85 10/2013
BEC - 80 12/2013

I'M DONE. THANK YOU LORD!

[henryv]

Health>work

without health, you won't enjoy the fruits of your labor anyway.

https://articles.economictimes.indiatimes.com/2011-06-05/news/29621119_1_overwork-work-related-wang-yue

FAR - 92 02/2013
AUD - 90 05/2013
REG - 85 10/2013
BEC - 80 12/2013

I'M DONE. THANK YOU LORD!

[Wolfchicken]

Probably depends on the size of the firm that you are working for. I have never experienced a Big 4, but I have interned and know a lot of people that work for smaller, local public accounting firms, and a lot of the people there have been there for a long time. You work probably 60 hours a week during busy season, and after that it is pretty relaxed. The place I interned at had mandatory half-day Fridays during the summer.

BEC - PASS
FAR - PASS
Audit - PASS
REG - PASS

[Wolfchicken]

Probably depends on the size of the firm that you are working for. I have never experienced a Big 4, but I have interned and know a lot of people that work for smaller, local public accounting firms, and a lot of the people there have been there for a long time. You work probably 60 hours a week during busy season, and after that it is pretty relaxed. The place I interned at had mandatory half-day Fridays during the summer.

BEC - PASS
FAR - PASS
Audit - PASS
REG - PASS

[vanadium3]

I recently heard there's no 8 hours days if you are in accounting. doesn't matter where you are. it's just a matter of how much more you have to work.

maybe this is true for the overall new generation of any field. people get laid off and the rest just have to work more to make up the work. thoughts?

CPA

[Author]

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