Category: PwC

Will a Former PwC Employee’s Superhero Aspirations Lead to Trouble?

As we’ve discussed, some farewell emails can be morbidly melodramatic while others are a bitter “good riddance” that makes you pity the poor bastards that will hear your former colleague’s cynical musings.

The latest Big 4 sendoff comes courtesy of PwC and we only share it with you because, well, we don’t know what to make of our hero’s crime fighting dreams.

Friends,

It is with a great mixture of emotions that I leave the firm today. As many of you know, I never imagined myself as a mild-mannered accountant. I always thought that there was a greater destiny out there for me, a tale of wonder and adventure, a story mostr careful consideration and consultation with my closest companions, I’ve decided to leave PwC in order to become a costumed vigilante of the night.

It wasn’t an easy decision; declaring war on crime never is. There will be some hard nights ahead of me as I craft the tools necessary to take back this city. Intense martial arts training and an iron-clad will might not be enough, but it’s all we got. Where evil lurks in the hearts of men, where innocents are lost and forgotten, where citizens call out for a savior, I will be there. Rest easy, Baltimore, your avenging knight has arrived.

I am vengeance. I am the night. I. AM. BATMAN.

[Bruce Wayne]
[brucewayne]@gmail.com

P.S. Could everyone do me a solid and keep my new secret identity to themselves? It’ll make avenging the weak a lot easier if super-villains aren’t bugging me at my new job all the time. Thanks.

Okaaay, so lots to discuss here. For starters, the lack of originality is dreadful. Batman is TAKEN you DOLT. Secondly, Batman is a scientist; you’ve got an accounting degree. Unless you’ve been whipping out a engineering/chemistry/physics set in your cubicle testing gadgets, we’re pretty sure a cap gun will be more effective than anything you’ll be strapped with. Thirdly, this is BALTIMORE we’re talking about. We’ve only spent a little bit of time there but if The Wire is as realistic as its creators say it is, this dude will last all of two seconds. Now, it’s possible that this could be a comic nerd trying to give his friends a laugh on his way out the door but what if we are dealing with another Phoenix Jones?

So if our hero is serious, we’re guessing you can count on a future report from the local Baltimore news detailing the injuries suffered by the masked avenger/former accountant.

KPMG Recruiter Tries to Convince Some of PwC Advisory to Jump Ship

~ Post has been updated after initial publication, see below.

On Tuesday, we told that you KPMG was using the power of the Google search to try and woo anyone casually interested in “ey careers.” While this use of technological slight of hand by the firm is impressive, today comes word that at least one experienced recruiter within the House of Klynveld is taking a more direct approach:

Well it’s apparent that KPMG – or one of the initials – is desperate for advisory help. I know a ton of PWC peeps who received an email from this nuanced internal recruiter. This guy is spamming all of my colleagues.


From the sounds of it, our source is a little put off by this blatant attempt but for anyone looking for a new gig in the Chicago area, you may want to look this guy up:

FW: It is a great time to consider KPMG Advisory!!!

Hi [annoyed PwC advisory professional],
Your profile came up during our research efforts.

We are actively searching for top talent with Big 4 experience to join KPMG Advisory. In October 2009 we implemented a new structure for US Advisory to help us to better serve our client base and to drive more growth. We have been extremely successful with both of these goals and have a wide variety of opportunities across all of our Advisory Service Groups. I would love to speak with you about these opportunities and how they would be beneficial to you and align with your career goals.

Please let me know when you would have time for an initial conversation.

Finally, make your New Year a great one with a career at KPMG!

Best Regards,
Mike Madura
National Manager – KPMG Advisory Recruiting Research
Office: 312.665.3628
eFax: 312.896.9325
email: mmadura@kpmg.com

Our source also isn’t sure why a restructuring from October 2009 is being used as a selling point but then again, maybe it’s part of the reason KPMG had the highest growth in revenue last year? Feel free to discuss.

UPDATE: This just in, “I work in PwC’s Boston office in tax and many of my colleagues received this email today. Looks like KPMG is after tax too, not just advisory. Thought I would pass it along as a follow up to your earlier post.”

[annoyed PwC tax professional],
Your profile came up during our research efforts.

We are actively searching for top talent with Big 4 experience to join the KPMG Tax Practice.

We are currently experiencing rapid areas of growth across the United States in our Federal, International and State and Local tax divisions.

We are also looking for qualified individuals in our specialty and industry specific practices in M&A Tax, Valuations Services, Financial Services /Alternative Investment Management and Tax Controversy. With so much anticipated growth we can offer faster upward career mobility than what you are currently getting.

I would love to speak with you about these opportunities and how they would be beneficial to you.

KPMG is poised to significantly increase our revenue over the next few years, and we’d like to discuss how you, or someone you know, might align with our strategy!

Please let me know when you would have time for an initial 20 – 30 minute conversation.

Make your New Year a better tomorrow with a career at KPMG.

(UPDATE 2) Outlook 2011: How Will the 9th Circuit Rule in Campbell v. PricewaterhouseCoopers?

~ Update includes oral argument date included in third paragraph

~ Update 2 includes correction of the spelling of “Stepan Mekhitarian” under the list of amicus briefs for the plaintiffs.

One of the stories that we’ve covered with interest since the launch of Going Concern has been the wage and hour lawsuits in California. For those needing a refresher, these are suits that were brought by non-licensed associates against various accounting firms (list of cases at bottom of this post) included who believe they were misclassified under California law as exempt professionals and are due overtime and other benefits due to non-exempt empltle differently, “I worked a ton of hours during busy season and all I got was sleep deprivation, a fat ass and I still don’t have a CPA so, pretty please, I’d like a little more money.”


Every once in awhile we get asked about the status of these cases and since it’s been a few months almost a year since our last post, we thought we’d update you briefly. You may remember that the main case, Campbell v. PricewaterhouseCoopers, is currently with the 9th Circuit Court of Appeals on interlocutory appeal over the issue of whether “learned professionals” can be defined as an exempt employees.

We recently spoke with a source familiar with the defense’s strategy in this case and learned that the two sides are to give oral arguments before the court sometime early this year on February 15th, after which, the Court will likely render its decision in the latter part of 2011 (everyone’s hoping, anyway). Regardless of the decision in the 9th Circuit, the case will go back to the trial court, so get comfortable.

While the developments in the case have been slow, it is interesting to note that both sides are both confident in their chances of victory in the 9th Circuit and make no mistake, it’s an important ruling. If the 9th Circuit were to rule in the favor of the plaintiffs, it could very well be a quick resolution, as the plaintiffs’ attorney, Bill Kershaw told us in July 2009, “the likelihood of the case resolving itself prior to trial would substantially increase,” although, our source disagreed with this sentiment, so we’re counting on a battle.

Something else worth noting (that we may have glossed over in prior posts) is that there are suits brought in both state and federal court. The main difference being that at the state level, once a suit is classified as a class-action, individuals are classified as plaintiffs until they opt out while the cases at the federal level are “collective action” where once a particular group of people are identified as plaintiffs, they are given the chance to opt in to participate in the lawsuit. In other words, employees of a firm who are thought to be non-exempt under California law, are automatically members of the class-action in state court while in federal court, potential plaintiffs have to choose to participate voluntarily. This makes the federal cases broader in scope geographically but trials at the state level will have a larger number of members in the class-action, which could mean a larger settlement.

Finally, some additional new information that we have to pass along are the organizations that filed amicus briefs on behalf of both parties. Here are the groups that filed amicus briefs on behalf of both parties; the notables being the U.S. Chamber of Commerce and AICPA for PwC:

Organizations Filing Amicus Briefs in Support of PwC

1. Employers Group, Chamber of Commerce of the United States of America, and California Chamber of Commerce (one brief)

2. American Institute of Certified Public Accountants

3. California Employment Law Council

Organizations Filing Amicus Briefs in Support of Plaintiffs

1. California Employment Lawyers Association

2. Former Commissioner of the California Industrial Welfare Commission (Barry Broad) and Former Chief Counsels of the California Division of Labor Standards Enforcement (Miles Locker and H. Thomas Cadell) (one brief)

3. Brandy Blaske, David Lee, Julia Longnecker, Stephan Stepan Mekhitarian, and Svetlana V. Murphy (all are Plaintiffs in Mekhitarian, et al. v. Deloitte & Touche, a proposed class action involving D&T’s Tax line of service)

So while it will be some time before we’ll see a ruling in Campbell this year, not to mention a resolution at the trial level, you can bet lots of unlicensed PwC employees will be working plenty of hours this busy season.

Wage & Hour Lawsuits

(UPDATE) Bonus Watch ’10: PwC Holiday Payouts Coming In

This just in:

PwC West Coast just got issued the increased spot bonuses you talked about in this article:


[Bonus Watch: Pre-Turkey Spot Bonuses at PwC?]

From what I have gathered, they were either $1,500 or $2,000 in amount. (I have talked to several peers about this)

This is in addition to chatter we heard last week about bonuses being awarded in New York. If your city’s office is spreading the holiday cheer, discuss below or email us the details.

UPDATE, Thursday circa 11:00 am: Another tipster begs to differ on the amount:

I haven’t checked my paycheck yet- but my bonus sure as heck wasn’t $1500-$2000. I was told I was getting about $800.

PwC Survey: Working People to Death Might Cause Them to Quit Their Jobs

Shocking survey results out of PwC today as the firm announced that overworking staff increases turnover at law firms. If you can believe that.

There is a “strong correlation” between staff turnover and chargeable hours at law firms, according to PricewaterhouseCoopers.

Numbers released as part of their annual survey of the sector show that the top ten law firms have average turnover rates of 17-18%.
According to the accountancy firm, reducing turnover to less than 10% can reduce costs by £32,000 per equity partner.

In semi-ironic and related news, a bunch of bitter Big 4 employees finally decided over the Thanksgiving holiday that they would be leaving their respective firms because they are sick of the hours.

Forward One Email and Your Career at PwC Is Over

Do you see what happens?

Of course we kid (some of you have no sense of humor). We actually haven’t heard what is happening to the Irish lads as the investigation is rumored to be still on-going. But this could explain what PwC did with a large portion of their swag when the new logo rolled out.

If you happen across this guy, get him a seat at the New York Thanksgiving soirée (location still unknown), wouldja?

Bonus Watch: Pre-Turkey Spot Bonuses at PwC?

This just in:

Was communicated a spot bonus yesterday, PwC Tax. $4k as a senior. I have never received a spot bonus anywhere near this size. I think instead of mid-year salary adjustments, they are giving enhanced spot bonuses to the higher performers. This is in addition to the “ipad or cash” extravaganza from earlier this month.

PwC is really buttering some people up, aren’t they? Either it’s going to be a rough 2011 or the good times are really back. If you’ve received similar news this week, do share or get in touch and we’ll keep things rolling here.

Earlier:
Bonus Watch ‘10: PwC Announces Across the Board Mid-year Bonuses

San Jose Mayor Simply ‘Excited’ That PwC Chose to Move into a Building That Was Vacant for Eight Years

Considering this hunk of metal and glass has been empty since before the Iraq War started, San Jose Mayor Chuck Reed could probably muster a little more enthusiasm than this:

San Jose Mayor Chuck Reed said Wednesday that he was “excited” that PwC was staying in San Jose.

Something along the lines of “OMG! OMG! OMG! OMG! PwC, we are so grateful that you saved this building from becoming overrun by cobwebs and rats plus, it won’t be the laughingstock of our skyline anymore!”

No, Mayor Reed kept things fairly tepid:

“It’s a big relief for me,” said Reed. “I was worried about a major tenant moving out of downtown.”

Plus, you know, having this eyesore remain empty for a few more years.