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 Topic: Pay cut and big 4 ( Topic Closed)
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LadyandaScholar
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Joined: 12 May 2009
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Posts: 19
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| Posted: 24 Sep 2012 at 18:25 | IP Logged
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My question is whether the career path is worth it (in
NYC) to take a big pay cut.
I currently work as a paralegal. I make $71,000 base
with about $20,000-35,000 in additional overtime after 35
hours a week. So if I work 45 hours per week, I earn
$30,000 on top of the $71,000. This is not guaranteed
but we've only had 1-2 years during the 2008 recession
where they cut off ALL overtime. The rest of the time
I've earned between 5 and 15 hours a week of overtime
consistently. However, there is no career path above me
at my firm or really in the legal industry unless I went
into Business Development.
I have the opportunity to work at a big 4 firm and earn
about $57,000 per year. The benefits are a tad worse
than my firm (401k match is worse etc.)
I have $54,000 in student loans and have saved $62,000 in
my retirement fund as well as a $10,000 emergency fund.
My question is whether I should sacrifice a year or two
of higher earnings to get into a good career path. This
all depends on big 4 exit or internal opportunities where
I can make upwards of $75,000 per year after 1-2 years.
I have an MBA as well and am 30 years old.
Any thoughts on this situation? I would start in 2013.
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db729
Major Contributor
Joined: 22 Apr 2010
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Posts: 256
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| Posted: 25 Sep 2012 at 16:53 | IP Logged
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LadyandaScholar wrote:
I have the opportunity to work at a big 4 firm and earn
about $57,000 per year. The benefits are a tad worse
than my firm (401k match is worse etc.)
I have $54,000 in student loans and have saved $62,000 in
my retirement fund as well as a $10,000 emergency fund.
My question is whether I should sacrifice a year or two
of higher earnings to get into a good career path. This
all depends on big 4 exit or internal opportunities where
I can make upwards of $75,000 per year after 1-2 years.
I have an MBA as well and am 30 years old.
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Heavily dependent on what line of service within Big 4 you're going into and what market. I'll tell you without knowing specifics that it's impossible for you to make $75K after only a year, MAYBE after 2 years if you're in advisory out of the NYC market and a top performer. Although if that were the case, $75K is next to nothing in NY. It takes a while to break the $100K mark in Big 4 (and in general), and it comes with working a lot of hours regardless of line of service.
Can't comment on anything else more without knowing specific details of your offer and what you're actually interested in.
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beDriven
Newbie
Joined: 14 Jan 2016
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Posts: 1
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| Posted: 15 Jan 2016 at 19:05 | IP Logged
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db7729 wrote:
LadyandaScholar wrote:
I have the opportunity to work at a big 4 firm and earn
about $57,000 per year. The benefits are a tad worse
than my firm (401k match is worse etc.)
I have $54,000 in student loans and have saved $62,000 in
my retirement fund as well as a $10,000 emergency fund.
My question is whether I should sacrifice a year or two
of higher earnings to get into a good career path. This
all depends on big 4 exit or internal opportunities where
I can make upwards of $75,000 per year after 1-2 years.
I have an MBA as well and am 30 years old.
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Heavily dependent on what line of service within Big 4
you're going into and what market. I'll tell you without knowing
specifics that it's impossible for you to make $75K after only a year,
MAYBE after 2 years if you're in advisory out of the NYC market and a
top performer. Although if that were the case, have you heard of the bathmate penis pump as this might help you as $75K is next to nothing
in NY. It takes a while to break the $100K mark in Big 4 (and in
general), and it comes with working a lot of hours regardless of line of
service.
Can't comment on anything else more without knowing specific details of your offer and what you're actually interested in.
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I would work in the lower paying job for a couple of years to help pay off debts and then switch to the higher paying when you've got some money saved up.
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