misanthrope87
offlineMember
http://audit.wordpress.com/2006/11/10/holy-crap-this-really-sucks/
This is what it's like. Recruiters make it seem really glamorous at university functions and such, but it's not like that at all. There are pros to public accounting, but there are many many cons.
bobkorz
offlineMember
This was written about Canadians.
USA has the same work-life imbalance problem?
I was thinking of going into forensic accounting - and I thought I'd need some auditing experience to get into that field.
misanthrope87
offlineMember
@Herbieherb
That's the only reason I'm doing this. I just finished up my first year in public. Although I audit mostly government entities. As much as I hate it I'm thinking of going into a Big 4 or another big firm after my 2nd year for the reason you stated.
goodluck2everyone
offlineMember
work 80 hours a week for 2 years at a Big 4, earning 60k a year with no OT
get managerial job paying $100,000 a year working 40 hours a week at another firm after
sounds like a worthwhile investment of time
bobkorz
offlineMember
@goodluck2everyone - that assumes that such a job is available and one qualifies after 2 years of terrible suffering. With tons of junior auditors who complete their 2 years and then quit competing against you....
The suffering is guaranteed, the outcome has zero guarantee and low likelihood of success in today's economy.
Hence, the cost benefit analysis is incorrect.
Alfrealphi
offlineMember
In the end it all depends on what the accountant decides is more valuable to him/ her. One thing is for sure, if it is not stated on a contract do not expect a "promise" to become true. Probabilities are that in the end you will be disillusioned.
The way I see it benefits should be > than costs.
apbandj
offlineMember
Ditto what kandisjoy said. I'll share with you what happened to me when I worked at a Big 4 (then Big 5)...
I was in my first busy season and had been averaging about 12 hours a day for a few weeks. Not too bad until it was time to wrap up the audit of the large client I was on. The partner was coming into town on Thursday, so I worked 16 hours on Monday and Tuesday and 20 hours on Wednesday (didn't get home til 3 in the morning b/c the client was a 30 minute drive from my house). Got up on Thursday and was on my way into work and FELL ASLEEP AT THE WHEEL which obviously resulted in an accident. When I went back to work, I turned in my 2 week notice. I had to pay back my $5k signing bonus which hurt like hell, but it was so worth it - best decision I ever made.
valueofnothing
offlineMember
1. very poorly written piece. person probably is a low-performer based on their inability to write....
2. if you go into big 4 thinking you'll be working 40 hour weeks, you're dumb. and if you can't work a 50 hour week without wanting to complain to every creature that has ears, you're a baby.
misanthrope87
offlineMember
@valueofnothing
1. Those were not written by one person. Many people shared their opinion. And yes, it wasn't meant to be some official literature so they didn't care about grammar and what not. Who cares?
2. ...or a person can really value their free time and work-life balance. At a big 4, you work a lot more than 50 hours per week and it isn't worth it to some people.
valueofnothing
offlineMember
@misanthrope i'm only two months in and i'm sure things will fluctuate, but I've worked 40-55 hours per week since starting at a b4 firm.... i'm sure that things will definitely be worse at times, but the 60 hours per week all the time is such a b4 myth.
bobkorz
offlineMember
The way I see it, if a company forces someone to work more than 40 hours a week AND they do not pay them overtime or at least straight time for those extra hours, they're ripping off the employee. Forced labor that is unpaid = slavery.
This is not a charity, this is business, and if a business cannot stay in business without slavery, then they are wrong.
ScruffMcGruff
offlineMember
Speaking with a little bit of experience here in a B4 firm, I kind of agree with value... Who goes into a B4 job expecting to work less than 50 or so hours a week (minimum)? Sure it sucks, but its not like I didn't know about it when I accepted the offer. Personally, I am willing to be a slave for a few years to build up my resume/experience.
Secondly, this is going to sound bad, but even though I've been putting in mostly 10-12 hour days, it really feels like I'm working around 6-8. The only time I really feel it is when I get home and notice that I only have 1-2 hours of free time until I need to goto bed again. On the other hand, if you have a family or significant other to contend with your job, then I guess I could understand... With that being said, looks like my hour of free time is up!
valueofnothing
offlineMember
im glad you knew what i meant, scruff mcgruff. and i agree with your 2nd paragraph... especially right now while traveling, i'm perfectly happy getting done with work at 8 or 9 because i don't need 8 hours of free time while i'm living in a hotel in the middle of nowhere.
MustPass1988
offlineMember
Why would you get an accounting degree and NOT go into public accounting? If you have no public accounting experience, good luck finding a good job. If you sign an offer letter and think you're working 8-5 M-F and won't have overtime, you're an idiot/have done absolutely no researching whatsoever. Everyone understands that going into public accounting means overtime without pay (duh, it's called being salaried), busy season (again, duh), and travel. Stop complaining.
misanthrope87
offlineMember
@Mustpass
Don't be an elitist donkey. People in public accounting obviously know those facts. That's why they're enduring it in the first place. But that doesn't mean that it's right and people can form opinions and complain if they want. If you don't want to read about people complaining, then you shouldn't have clicked on this post. You can provide input to this subject, but there's no need for you to be such a jack*** about it. Oh and by the way some firms do pay over time. And how do you think people are gonna find out about public accounting in the first place? By asking other people and reading things like this. Get off your freaking high horse.
GottaGetThruThis
offlineMember
It all depends on the firm, the people, the location, and you. I work at a mid-tier firm and I really like my job. I like the people I work with and the clients I work on. But my experience is completely different than a friend of mine that works for the same firm only in California. She works way more than I do and she travels a lot more and a lot further to clients (in state).
I know I'm a weirdo and not the "normal" audit staffer (two years and out). I'm also young and single so the lifestyle fits for me.
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