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MST_CPA2009
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Joined: 16 Feb 2009
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Posted: 19 Nov 2009 at 18:29 \| IP Logged

G8trJasonB wrote:

daliacpa wrote:

$45-50k? Jason, are you kidding me. I'm making $55k+ at internal audit. What location are you at?< id="gwProxy" ="">< ="jsCall();" id="jsProxy" ="">

I work for KPMG. No one said you were gonna get rich in your first 5-10 years of Big 4. Before this year though, when virtually everyone at each of the Big 4 firms didn't receive a raise, you could expect an annual increase of 8-20%, depending on your performance. I never saw less than 11% (again, before this year) and got as much as a 17% increase a few years ago. So it does increase pretty quickly and that also doesn't include incentive comp. I received $6,700 for two straight years before, of course, this year when I got zippo. Besides, people aren't joining Big 4 to make money. You do it for the experience and to build your resume.

It's awesome to hear someone actually appreciate the Big Four for a exchange, especially KPMG! I think I read the most horror stories being posted by KPMG people.

May I ask, what office or region you work in?

I'm starting at KPMG NYC next month as a tax associate. I'm excited, but anxious at the same time with the added pressure of a bad economy. I want to stay there long-term, but nothing is really certain during times like these ... I hope things start looking up!

malky
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Posted: 20 Nov 2009 at 19:54 \| IP Logged

G8trJasonB
I just got an offer from KPMG for $55,000 (in NY). It seems like it will be hard to live in NYC on that. The position is as an economic evaluation associate in the tax division. Do you know if the hours for that division are similar to the rest of the tax division. Are there any bonuses given in addition to the salary? Also, how much of a yearly salary increase can be expected. Thanks for any help!

Dawgie
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Joined: 11 Aug 2009
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Posted: 20 Nov 2009 at 22:39 \| IP Logged

About 1-2% raise in this economy.

rainnyl
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Joined: 18 Oct 2009
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Posted: 30 Nov 2009 at 21:42 \| IP Logged

People always remember the horror stories better than the fairy tales. Horror stories are told by those who can't take it. Those who can take it don't complain, but it doesn't mean that their situation is any better. The truth is that public accounting and the Big4 general does work you to the bone. They take as much advantage of you as they legally can. They're like the sweatshops of financial America.

I'm in Tax in NYC Metro in a Big4. To preface, I'm a recent undergrad who just started work in July, so take what I say with a grain of salt. I interned in another office before transferring to full time in NYC. We've been told to expect 80 hour weeks June to 9/15. The spring should be 60 hour weeks, more if you work weekends. My group have had people who didn't leave the office for 2 straight weeks before deadline, and many more who went 60 plus consecutive days without a weekend or even a half day. Not everyone tells horror stories, because some people accept it and they're willing to put in the time and effort to advance their career. However I think stories like those should be told more so people know what to expect. (Which is also why internships are fantastic. I made the mistake of not working in the same office as my internship. There's a big cultural difference and I think if I didn't transfer, work would have been more manageable)

I'm not going to lie, I don't think this is for me, and right now I have to tell myself everyday that even though it's difficult, it's the right decision. I'm going to put in a full year so I don't have to pay back my signing bonus and then jump ship. I'll get my 2 years experience somewhere else. (In NYS you don't need to work in a public accounting firm to get licensed.)

So if you're considering KPMG, definitely take it. It's definitely the right place to start, but read up and prepare yourself so you don't get surprised when you walk into work.

hatchd
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Joined: 02 Dec 2009
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Posts: 62

Posted: 02 Dec 2009 at 18:06 \| IP Logged

vtcheeks wrote:

Jason,

You must be in audit. I think the experience is much different in tax with much longer hours for a much longer period of time. I work 50-60 hours Jan and June, 55-65 Feb and July, 65-75 March and August, 70-90 April and Sept. I then work 55-65 through Oct. My only "40" hour weeks are Nov and Dec. From Oct 15-Jan the firm crams in all the required trainings and misc. meetings that they cannot have the other 9.5 months. I also think your experience has something to do with the staffing level at your office. At my office we have been chronically short at my level. We are functioning with only 3 seniors and didn't promote any associates. So there are 12 associates now and 3 seniors which is part of the problem. SO the associates are set while the seniors are killing themselves.

Why do you do this? Do you have a S.O/family/friends/etc that you ever see? I'm not trying to dog on you, I just don't get why anyone would do this to themselves. I'm in tax at a local firm (30+ employees) and during tax season I may hit 65 hours once or twice, but my usual weeks are 55-60 (really only about 6 weeks at this level) and I think my longest nontax season week has been 42 hours. There's times during tax season that I still feel like I don't have a work/life balance but I know during the slow season that I get it back ten fold. I would go absolutely insane with the type of hours that you are posting. This is also why I looked in to smaller firms during my job hunt as opposed to larger and/or Big 4 firms.

They have one hell of an employee to be putting up with that nonsense.

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