MrAudit wrote: does the big 4 at least give comp time for the overtime hours worked? I would actually prefer getting comp time than the pay, considering the higher tax rate.....

The answer is yes and no.

Full disclosure : i worked for a big 4 firm and have since left for a combination of personal and work-related reasons.

No, they do not give you any more money or time off for working busy season hours.  I would bet dollars to donuts that you will never see "overtime compensation" as a line item on your paycheck so long as you live.

however:

Yes, there is compensation for it.  In Chicago, for example, starting salary for a big 4 auditor is right around 52k, for most other jobs, you are probably looking at about 47 or less. So there is some "built in" overtime pay.  While working at a big 4 firm I was given significantly more vacation time than my friends who went to go work for other financial institutions, and I was given no limit on sick days, so long as it was within reason.  Also, most new hires are given a starting bonus (usually 1-3k) and another, sizable, (like 5k) bonus for passing the CPA exam within the first year of employment (and they reimburse you your testing expenses).  Not to mention, when you aren't on a client (which happens more in your first few years than later) your day consists of getting there at 8:30, drinking coffee, putting yourself in the available database, making spreadsheets for your fantasy football team and gossiping on Sametime.

so while there is no "direct" compensation for your soulcrushing and social-life-ending amount of overtime, to say that you are underpaid or not compensated for it is not really correct.  over the course of a year, you will probably average about 45 hours of work per week, which is perfectly reasonable.