Post by kijgol on Jun 26, 2011 11:22:03 GMT -5
Jun 26, 2011 7:54:23 GMT -5 @kijgol said:
Cool. He's going to get paid more as an intern than he will be as a full time associate (well on an hourly rate that is.) Wait till he becomes FT associate and works 70-80 work weeks where the salary per hour looks is comparable to some hick working at Walmart....ah the life of the big 4. So glamarous.
Ok sarcasm aside, the experience he will get is great and most people only stay on board a few years but the hours and the stress for the pay is a huge turnoff. 60-80 hour work weeks during busy season is the norm and I don't think these people understand the concept of the term "weekend" since they work on these days. Then again I'm speaking from the perspective of in the US, maybe Canada is different. The best of luck to him.
It's a good thing you don't know much about this firm.... the associates(partners) make anywhere from $350,000 to $500,000 a year... they have already singed him up for next year starting at $70,000 per year...they told him according to his performance he can expect $150,000 after 5 years... There are people there he spoke to that can attest to that. As for the hour ... sometimes you gotta put them in... but they reward them with fully paid vacations a few times a year.
Get your facts straight..
I know quite a bit about the industry, I've worked for them and I have friends that currently work at the big 4. Making partners takes an average of 10-15 years if not more, and something like under 5% of the people that start off with the company ever get that far. It's an extremely competitive cut throat industry with long hours, but the pay is good.
Again most people only work for an accounting firm like EY for a few years. Get their experience for the CPA and look for greener pastures and/or less hours. These places have notoriously high turnover rate. Though I would assume the turnover wouldn't be as much with the current economic environment, and I'm not sure of the rules of getting certified in Canada.
70k is a bit high as a starting salary, higher than NYC atleast. Usually 50-60k is the norm here and there are other contingent bonuses ie passing the CPA. My sarcastic remark about the walmart employee was more directed toward the new associates that work those crazy hours for a modest pay. If you were to breakdown their hourly pay it isn't as much as you would think. The interns on the other hand get paid on the hourly rate at around $25+, more than these associates.
Making over 6 figures is possible without making partner. Most managers make that amount. Again 12-14 hour days during busy season is the norm. The whole industry is a tradeoff between working and life. The industry is similar to big law only difference is accountants get paid less. My whole point is there is a tradeoff between work and life with the industry. Similar to other industries ofc. I wasn't insulting you or your son.....