Ed. Note: Give DWB a warm welcome back to regular posting. If you’ve got a question for the advice column, email us at [email protected].
Good afternoon, everyone. Caleb must have tripped and knocked his sombrero-wearing-head last night, because he has invited me back for a weekly post. Regardless, I’m excited to be back. Let’s knock the rust off, shall we?
I am a 2nd year senior associate at a Big 4 firm. I like doing public accounting but am thinking that at my level and performance I am underpaid. I’ve several offers in hand but I do like what I am doing.
Now this does seem like a silly question – how do I go about asking for a raise without making it sound like that all I care about is money? In this economy…what are the chances that I am gonna get what I ask for?
Thanks a bunch!
You don’t specify whether your “several offers in hand” are for positions in the private sector or with other public accounting firms, so I’m going to address both.
Private sector – why are you interviewing with companies if you “like doing public accounting?” Turn these down.
Public accounting – you should be considering these offers if they are with another Big 4 firm. Do not go from Big 4 to mid-tier. Don’t have any offers with the other Big 4? See your own comments above and interview with the other firms. All four have problematic staffing issues this spring as the young guns continue to burn out. Sure, you’ll receive a nice little bump in pay when you transfer from one firm to another, but remember you’ll be down at the bottom of the networking food-chain.
Considering both the fact that you work at a Big 4 and it’s only a few months away from mid-summer raises and/or compensation restructuring, asking for a raise now will probably not lead to much. You work for an international firm responsible for more than 100,000 employees…you are one person. Granted, you are a second year Senior, which is one of the areas that all firms have a shortage at.
It also depends on your what practice line, your performance rankings and industry, as all of these factors play into how much leverage you will have. If you’re a top-ranked staff member with your CPA and on track to be a lead senior in the fall, your firm may toss you a $1,500 bone to keep you salivating for summer raises. If you’re more of the middle-of-the-road-and-I’m-studying-for-BEC type it would not totally surprise me if you were not given a raise or even shown the door. It would take the length of an episode of “30 Rock” for the word to spread through your office that all it took to get a bump in pay was to claim you had an offer from another firm. Leadership isn’t stupid.
Regardless of where you stand when compared to your peers, be absolutely certain you’re comfortable taking one of the offers you have should the latter situation happen. Your best bet is to wait until summer raises come through. The other firms will still be hiring experience staff in September.