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hkicpa
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Joined: 10 Jun 2006
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Posted: 31 Oct 2007 at 08:53 \| IP Logged

pennwood66, I guess I have better information about VA from the information I got, the 2007 intake for RSM, BDO and GT in va is 52K. That is from someone I know personally. My bro works for EY at Tyson Corner, VA, and I know what he is making. I have about 1 year of tax experience, and the offer I got is just about what I told you. Thanks.

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pennwood66
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Posted: 31 Oct 2007 at 10:06 \| IP Logged

Sorry,

When lucky0416 said mid-size local firms, I assumed that meant locally owned firms rather than local branches of bigger firms like EY, which I am sure do pay more, my mistake.

But the locally-owned firms would not pay as much to start out as a big firm like EY would. My boss says the main reason the bigger firms pay more starting out is because you mainly work in just one area so it is easier for them to train you and you work alot of overtime that you do not get overtime pay for. In smaller, local firms you have to do alot more in alot of different areas so it is not really worth it to these firms to pay a salary comparable to big firms for someone that does not have alot of experience, but most of the local firms here do pay for overtime and there is only overtime during tax season.

Sorry about any confusion with the size of the firm that I was refering to.

Edited by pennwood66 on 31 Oct 2007 at 10:08

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hkicpa
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Posted: 31 Oct 2007 at 12:04 \| IP Logged

pennwood, you do not need to apologize. You are right at the point. I do not know if most of the local firms pay for overtime. For the local firm that I worked for, I did not get paid for overtime. Pennwood, do you think with the overtime, it is possible to wind up with what big firm employees are making? During tax season, the overtime would go up to 50 to 60 hours per week.

Another suggestion for CPA is ( you probably know this ) if you have a chance, go join a big firm rather than a small firm. Perhaps you may learn more in small firms, but in the end, you would make more money with big firms. For Big Four firms, if your previous work experience was with companies other than Big Four, they would discount your work experience. After working for Big Four firms for a few years, you would be highly marketable in the job market. Another pitfall in a small firm is your salary would be controlled by your boss. It is more difficult for employees from a small firm to jump to a big firm. The salary incremental per year can be very low. On the other hand, if you have worked in some big engagements, it would be much easier for you to switch to another firm and make 10 to 15% more than what you are making.
My another suggestion for you is to determine which area you want to work. Audit or tax? I tried both. In my opinion, tax is challenging. In small firms, most of the time, you need to deal with clients who have no knowledge about tax. If you like learning new stuffs and explaining the new stuffs to clients, tax may be good for you. The pitfall for tax is the exist opportunity is narrow. Private companies only need very few tax accountants. I personally think that if you look for more exist opportunities, audit is the way to go. Again, that is just my personal opinion.

Edited by hkicpa on 31 Oct 2007 at 12:18

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pennwood66
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Posted: 31 Oct 2007 at 12:45 \| IP Logged

I guess everyone has their preference. There are ups and downs at every size firm, so as long as it makes you happy, that is what is most important. My preference has just always been to work for a small company. For me personally, the perks I have gotten along the way, in addition to the flexibility, outway the chance to make a little more money for alot more hours. And when the two partners retire, the firm will be taken over by myself and another of my co-workers, so I don't need big firm experience on my resume. I wish good luck to all of you who are seeking jobs or just trying to decide which direction you want to go.

Edited by pennwood66 on 31 Oct 2007 at 12:51

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abcd1234
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Joined: 18 Jul 2007
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Posted: 31 Oct 2007 at 13:07 \| IP Logged

Pennwood66

how many years do you have with this firm? Before joining this firm, did you work for somewhere else? If so, How long and what size of the firm?

thanks

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