[Gonzo30]

I work at a Big 4 accounting firm and I’m very worried about this busy season. We are short seniors and all working on more than one client at a time. I also know of many people who are looking for new jobs and almost 100% positive they will be leaving the firm creating an even greater shortage of seniors. I know that the leadership is aware that people are complaining about this because they are analyzing the data. Does anyone else feel this way/is this normal? I know busy season is meant to be rough but if this is what is going to happen it might be better to jump ship so I’m not the only one in the sinking boat.

[acamp]

Sounds very familiar LOL, we're short to begin with and people are jumping ship left and right. Depending on how comp discussions go, I might be joining them!

Self proclaimed: Highest ratio of Replies to Others v. Posts Created on A71

California CPA - Big4 Aud Manager Alum - Private Accounting at Startups

FAR, REG and BEC with Ninja Notes + WTB Only

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

Becker Videos: [AUD - 82]

California CPA

[Rip808]

I interned at one of the BIG 4 Audit in Houston, thank God I also interned at a Fortune 500 Oil & Gas company the summer before. Right after my BIG 4 internship I saw the writing on the wall. No way in hell I was about to put in so many hours for so little pay (O&G paid 40% more starting). I made some good friends while at B4 and have been lucky enough to get a few of them jobs where I work, they absolutely hated their entire time in public accounting. I do not regret my decision one bit going the industry route. I know several who are just waiting for the opportunity to jump once they see an opening. It's crazy especially in bigger cities like Houston, Dallas, etc where the job market is hot hot hot.

Texas

FAR: PASSED
AUD: PASSED
BEC: PASSED
REG: PASSED!!!!!

[wannabeCPA123]

There have been a lot of issues with Seniors jumping ship. Some B4 firms have been turning down clients because they don't have enough resources.

I think public accounting is a great job though. I wish I got paid more, but I could not imagine doing the things that people do in industry. I would be bored out of my mind.

public account is a very dynamic and active job.

FAR 78
REG 87
BEC 78
AUD 78
Passed all exams on first try! Good luck to everyone!

[impska]

It's a common and recurring problem. Conventional wisdom is that senior is the best time to leave public accounting for opportunities in industry. That leaves the remaining seniors overworked, so the pressure is on them to also leave.

Your firm is analyzing the data on how much profit they're going to make this year. Not on your workload. Sorry to break it to you.

REG - 94
BEC - 92
FAR - 92
AUD - 99

[fuzyfro89]

Lol, yes. The problem with Big 4 audit in particular is they think in cycles (i.e. how can we make next FY better than this year… not how can we make this yr better). Change is far too slow. I remember being on a terrible client my first busy season January 2012, and even by summer 2013 (yes, almost 18 months) nothing had really gotten better. No senior lasted more than a year there.

For some time there is a literal shortage of upcoming seniors in all the firms (not just Big 4, so they couldn't just poach from competitors to compensate). Now the problem is that the fees just aren't high enough to allow the firms to properly staff projects (will eventually), but hasn't happened yet.

Deal with it, or get out the door.

The problem is some industry giants are stepping up their entry level training programs as well, so Big 4 advantage is getting slimmer over time. I still think that today, there is an advantage to working there for least 18 months – 3 years in the beginning of your career (for most people); however, there are some very good entry level programs in industry as well.

[Gonzo30]

Do you think they have adjusted their plans in light of only one year of auditing required for the cpa licensure? They may have gotten an additional year out of second year into senior before but not anymore.

[Author]

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