Category: Career Center

The Career Center is sponsored by Accountingfly, the profession’s leading remote recruiter. We were into remote work before it was cool.

One Ernst & Young Tax Associate’s Resolution Is to Find Out If She’s Underpaid

Welcome to the good-riddance-2010-hello-busy-season edition of Accounting Career Emergencies. In today’s edition, an E&Y tax associate is considering a move to another Big 4 firm but wants to know if she’s pulling down fair scratch after “an irrevocable slip up.”

Need ideas for 2011 resolutions? Wondering how to best present strange and morbid experience on your LinkedIn profile? Looking for ideas on how to handle a client who will be less than grateful for all the hours you’ll be putting in this year? Email us at advice@goingconcern.com and we’ll have everyone kissing your feet in no time.

Back to our New Year job hunter:

Hi, I’m currently working at EY FSO NY in Tax and considering going to one of the other big 4 firms but am wondering how much the going rate is these days for hires with the MST in my market. When I initially signed on here I was offered 70k with the MST but due to a huge irrevocable slip up I’m not being paid that. Understandably if I’m going to be slaving away through a 9 month busy season with these financial clients I want to at least get paid the going-rate hence the reason I’m exploring my options. Btw, I’m a staff 2 now.


Naturally, we had to ask about this “irrevocable slip up” because we pictured something along the lines of DUI, an inappropriate email or something even more serious but unfortunately it was just a college credits issue.

ANYWAY, this problem you have – ordinarily, we’d think that you’re shopping the job scene simply because you think you’re underpaid but since your situation is special, we’ll make an exception. We asked around and 70k is right in the wheelhouse of where you should be so at the very least, it wouldn’t hurt to ask some recruiters what openings the other firms have. On the other hand, if you like working at E&Y, it wouldn’t be presumptuous to explain your situation to a performance counselor or partner, the idea being that you’re happy but because of mix-up, you’re down the pay scale compared to your peers. Do this after speaking to recruiters so you can substantiate your claim.

Keep in mind that the downside is that tax associates with a MST and FS experience are a dime a dozen in New York, so we advise moving sooner (i.e. now) rather than later (i.e. April) when all your burned out colleagues are calling recruiters. If you wait a couple of weeks, before you know it, you’re swamped with work and missing for a couple of hours in the middle of the day will look pret-tay, pret-tay suspicious. Good luck.

Should an “Acting Senior Manager” Take a Job with Grant Thornton That Promises a Transfer?

Welcome to the Holly Jolly Hump Day edition of Accounting Career Emergencies. In today’s edition, an “acting” senior manager is being recruited for a gig with GT in a Mid-Atlantic office with the promise to transfer to another office after the upcoming tax seasons. Can he trust GT to make the deal happen?

Worried that your career (or bonus) is in jeopardy because your firm is in a bit of a jam? Not sure how to approach a potential dance partner? Caught in an awkward situation that involves hookers and cash but it’s really just one big misunderstanding? Email us at advice@goingconcern.com and we’ll do our best to right these wrongs (or at least make you feel better about them).

Back to the actor:

I have 8 years experience in tax compliance as an acting senior manager on a large client. A former co-worker is recruiting me for a [Mid-Atlantic] GT tax position as a senior since I have no CPA. They are willing to have me work in [Mid-Atlantic] until 09/11 and then allow me to transfer to another office after 9/11.

My interview will be next week and will be with [Mid-Atlantic] partner and the partner from the office I want to transfer to. My questions for the group are the following. Does anyone know what the staffing is like in the tax group in [Mid-Atlantic]? (i.e. all new staff or good experienced people) Does GT pay well? My current salary is $98,000. Can I trust them to honor their word about transfering me after 9/11?

-Acting Senior Manager

Dear ASM,

We have to say, this is a very odd situation you’ve got so we’ll do our best to help you out. For starters, why don’t you have a CPA license? We’re sure there’s an explanation but an 8 year vet of the business with no CPA strikes us as odd. Written exam too scary? You’ve got a JD and figured the CPA wasn’t necessary? Perpetual BEC failure? Whatevs. Secondly, we’re get the impression that you want this job mostly for the transfer, so we’ll skip the “climbing down the corporate ladder” lecture.

Now, then. We can’t speak to the staffing situation in the office you speak of but it would be shocking if all the staff at GT south of Philadelphia and north of Raleigh were completely incapable of doing their jobs (if we’re off base, please share). The pay at GT will be fine but your work experience is a big bargaining chip. Use it wisely and be ready to lay out why your extensive experience should result in more money for you.

As for taking the word of GT partners, it’s a pretty good sign that a partner from your desired office will be there for your interview. Also, what motivation would anyone have by going back on this deal? Would they really give you the job only to betray you less than a year later? This strikes us as unlikely. Staffing needs are always up in the air so for them to give you this opportunity seems us as a pretty exceptional deal. Regardless, we’d ask to get something in writing. Chances are this has already happened, as we assume some of these discussions occurred over email but something official would be ideal. If they balk, then you’ve got cause to question their sincerity. Good luck.

Oh, and get your CPA for crissakes.

Is There a Polite Way to Quit During Busy Season?

Welcome to the one-week-of-mall-madness-left edition of Accounting Career Emergencies. In today’s edition, a new hire is ready quit her Big 4 gig after three months on the job. Is there a nice way to do this during busy season?

Freaked out over your first busy season and need medication suggestions? Concerned about the lack of communication in your office? Curious about the drawbacks of a landing ��������������������ignificant other? Email us at advice@goingconcern.com and we’ll tell you what’s what.

Back to fed up in Big 4:

Hi,

I’m a recent new hire at a big 4 firm in LA, and I’ve been working for the firm since October. I’m hating the job and already want to quit. I’m currently looking for jobs as we speak. Is it inappropriate to quit during busy season? How do I do so in a “polite” way?

Thanks for the advice,
HatingMyJob


Dear HatingMyJob,

Your dilemma is not uncommon but we are curious as why you would accept a job that, at least semi-consciously, you already hated before you started. You essentially took a job from someone else that probably would sacrifice an appendage for the opportunity you have.

Now that we have sufficiently guilt-tripped you, we’ll address your problem. Way back in February, we addressed this very issue and here are a few thoughts we had then:

All the people we’ve had the pleasure of working with, despite all of them having multiple “F— THIS!” moments, pull it together because they have a job to do. Why the hell didn’t you quit prior to busy season? You really felt like sticking it to everyone?

Fine. Perhaps your desire for sweet, sweet revenge against your senior/manager/partner/firm is more powerful than any shred of integrity you may have but for crissakes, that makes you a very bitter person. More so than the average accountant.

We’re not sure what has happened in the last 10-ish months but we’ve mellowed on this position. That being said, we’re putting you on notice, regardless of whether you quit now (pre-busy season) or in mid-February, people will be JUDGING YOUR ASS. We’re not talking Chief Justice judging, we’re talking the WRATH OF THE ALMIGHTY judging (if your an atheist, think of it this way – science will get medieval on you with Lou Gehrig’s or something else sufficiently terrible). Hopefully you’re okay with that because your ears will be burning.

Accordingly, there’s no reason for you to worry about being polite about it. In fact, you’re better off admitting that you hate the job (feel free to get specific) and it isn’t for you. That involves you admitting that you made a mistake but hey, we all make them. It may save you a little face with some of your colleagues.

The good news is, your recruiter – if you’re using one – is going to be able to help you more during busy season because they won’t have a backlog of people burning up their phones with, “For the love of GOD, get me out of this job!” If you’re not using a recruiter, we suggest you find one and level with them about your situation. You’re not desperate but you want out ASAP. The process takes a little bit of time and you’ll be ahead of the people that choose to battle out busy season.

So, if you’re fed up. Fine. Nothing you can do to change that. If you’re looking, that’s good; you’ll have a leg up on the new associates that decide to leave after busy season. Good luck.

What Can a New Big 4 Associate Expect Their First Week?

Welcome to the Holiday Hump Day edition of Accounting Career Emergencies. In today’s edition, a future tax associate wants to know how to prepare for the first few weeks on the job. Can we help this newbie avoid a nervous breakdown?

Need career advice? Looking for busy season survival tips? Curiosity around the dirt of our country’s diplomatic relations getting the best of you? Email us at advice@goingconcern.com and we’ll make sure you don’t end up in a room with no windows.

Back to our nervous Nellie:

Hey guys,

I apologize if this is a duplicate of a prior question; but I’ve scoured the forums and can’t seem to find an answer.

I am starting at a Big 4 firm in January as an associate in the Federal tax practice. I have a few weeks at my local office before leaving for national training.

Could anyone give me an idea of what to expect from the first few weeks? Like most new associates, I feel like HR’s oversight. I really want to give myself the best possible chance to not look like a complete idiot. What can I do to prepare for my first few weeks at work? What am I expected to know or not know going in?

Constructive comments (I’ve heard all the “get ready to have no life”, “you are a slave” comments already) would be much appreciated.

Thanks,
Booker T. Nervousman

Dear Booker T.,

Constructive comments? Where do you think you are? If you want real help, call Dr. Phil (the real Dr. Phil, not his Deloitte doppelgänger).

Kidding aside – it’s pretty difficult for us to predict what your first couple of weeks as a newbie will be like (our personal experience was as an experienced hire) but we’ll give it a shot. You’re likely to get a whole lot of mindless training thrown at you – diversity, sexual harassment, the ushe. This will be useful when you’re sitting around with nothing to do, while a SA or manager tries to drum up some work for you. Like everyone, you’ll get the office tour but since you’re in tax, you’ll want to pay close attention because you are going to spend all your time at the office; our guess is that you’ll have a cubicle waiting for you.

Things to keep an eye out for – a) bathrooms with lighter foot traffic; b) hotties (regardless of proximity to where you sit); c) easily accessible stairs so you can avoid awkward elevator encounters; d) break rooms with real coffee (not that Flavia garbage).

You’re likely to get some work in your first couple weeks leading up to your national training but it’s not like you have to memorize Bittker & Eustice before starting work. Chances are your seniors will assume you don’t know jack and in some respects they’re right. Hopefully, they’ll walk you through exactly what they need from you but remind them that you do have training coming up so you don’t have work sitting on your desk for the better part of a week. Keep in mind that if you had an internship with the firm and will be working with a lot of the same people, they may have higher expectations for you than if you end up on a brand new team.

Ultimately, your first-ish week(s) will be hectic but you’ll be fine. Make like an eager beaver but not too eager. Oh, and look sharp. Nothing worse than sloppily dressed newbie.

Surely we’re missing some things here, some chime with appropriate insight, keeping in mind that Booker T is already aware that their life is about to come to end.

Can a Future Big 4 Associate Expect a Salary Adjustment When He Starts Work?

Welcome to the aren’t-you-glad-healthcare-reform-is-back-in-the-news? edition of Accounting Career Emergencies. In today’s edition, should an incoming associate expect a salary adjustment on day one or they doomed to a pittance?

Find yourself in a jam at work? Do you have eight hours to spare and aren’t sure how to best spend this rare free time? Wondering what you should get Sharon Allen for a retirement gift? Email us at advice@goingconcern.com and we’ll make sure you stay away from vacuum cleaners.

Returning to our Big 4 in waiting:

Can I expect to have my salary adjusted to market when I start employment? I will be starting in 2011. Reading through some of the articles and comments on here, it seems that new hires easily start with a salary above $50K. I received three offers from three Big 4 firms but all offered salaries were relatively far from $50K.

Each firm was within 1K-1.5K range from each other though. I know that starting salaries have even decreased in my area overall. I am not enjoying the thought of making less than what these firms have proven to have the potential to offer, or even making less than what another firm had to offer (although I knew that was the outcome by choosing this firm). I personally do not think it is worth asking for a raise or a salary adjustment since I feel that would only hurt my future annual raises. Should I just wait it out and see?

[Doubled over, catching breath, holding up hand with ‘I need a minute’]

Oh, dear. We had to take a break for a second, in fact our face hurts from laughing uncontrollably. Sorry about that.

Look friend, we don’t mean to make light of your question but a reality check is necessary here. There is virtually no chance that your firm will adjust to your salary when you start. You write, “I am not enjoying the thought of making less than what these firms have proven to have the potential to offer, or even making less than what another firm had to offer (although I knew that was the outcome by choosing this firm).”

We find this confusing for a couple of reasons – 1) obviously the Big 4 have “proven to have the potential” to pay more than $50k. It just happens this is occurring in a place where you don’t currently reside. If you did reside in one these places, your starting salary would eclipse the magical $50k. Were you expecting a big city salary for your mid-sized city lifestyle? 2) if you don’t like the idea of earning less money, why did you go with the firm that offered you less money? This simply doesn’t compute.

If making $50,000 is such a sticking point for you, move to a city with a higher cost of living so that you can eclipse the magic number you so desperately desire. If that’s not reasonable, then the best you can hope for is a pleasant surprise like PwC gave its recently hired peeps ($500 bonus for those hired post-June 30, 2010).

This may sound crazy but don’t get too caught up in what your salary is at the beginning of your career. So, to answer your question – sit tight and start your career. It’s a little early to be bitching about being underpaid when you haven’t billed a single hour.

The Future of Forensic Accounting is Now

Ed. note: Welcome to the first edition of Going Concern’s Guest Blogger series. We’ll be featuring both seasoned and new bloggers to share their views on various accounting topics. If you’re interested in participating, email us your submission to editor@goingconcern.com. Please include “Guest Blogger Submission” in the subject line.

Imagine being able to take tens of thousands of pages of financial data and get it into a database in a matter of hours. Those mounds of paper are quickly turned into something useful to the forensic accountant, without spending hundreds of hours manually inputting the data. Financial data is suddenly transformed and the forensic accountant can quickly map the flow of funaction patterns, create charts and graphs that show entities and transactions of interest, and create customized reports.

Doing things the old way, such a result is only a fantasy. For decades, forensic accountants have spent their time manually sorting documentation, deciding which transactions are important, and doing data entry.

It sounds painful because it is. It takes a long time, there is a high risk of inaccuracy, and there is a great chance that an important transaction will be overlooked.

So if there is technology out there to change all of this (and yes, there is!), why aren’t forensic accountants using it?


The only real answer is that they’re afraid of changing their business model. Most accounting firms charge their clients hourly fees, so they are invested in a business model that is dependent on forensic accountants taking more time to perform work which results in more revenue.

Technology that nearly eliminates the need for teams to spend hundreds of hours analyzing financial documentation is not a welcome addition to the firm; it just causes them to lose money.

Of course, it’s not really true that such advances really cause forensic accountants to lose money. All that needs to happen is firms have to find different ways to bill their clients, rather than simply adding up the time of staff and multiplying by a big number.

In addition to this paradigm shift related to billing clients, technological advances also fundamentally change the way forensic accountants investigate fraud. That makes lots of them (especially the old timers) uneasy. After all, we’ve always done it this way! How can we rely on technology over our own hands and eyes?

Here’s the thing…. those forensic accountants who resist embracing technological changes are going to be left behind. I currently use a proprietary system to complete large forensic accounting engagements, making it possible for me to single-handedly do more investigative work in a few days than a team of 4 or 5 investigators can do in several weeks or months.

This is not a fantasy; it is my reality. And my clients are getting better results much faster, allowing them to plan their litigation strategy much sooner, and ultimately be more successful in finding fraud, defending regulatory actions, and competing in litigation.

Yet I am currently the only forensic accountant in the private sector using this system, or anything like it. The government has been using a similar system for years, and if a client is being investigated by a federal agency in a financial matter, there’s a good chance the government is using the latest technology to aid in their investigation.

The future is not going to wait just because so many forensic accountants don’t want to change how they investigate fraud or earn their money. Those who are unwilling to change are going to be left behind. Those, like me, who want to be on the cutting edge, will make more money and win more interesting engagements that previously may have been too large or complex for me to handle alone.

Tracy L. Coenen, CPA, CFF is a forensic accountant and fraud investigator with Sequence Inc. in Milwaukee and Chicago. She has conducted hundreds of high-stakes investigations involving financial statement fraud, securities fraud, investment fraud, bankruptcy and receivership, and criminal defense. Tracy is the author of Expert Fraud Investigation: A Step-by-Step Guide and Essentials of Corporate Fraud, and has been qualified as an expert witness in both state and federal courts. She can be reached at tracy@sequenceinc.com or 312.498.3661.

Should Grad Students Crash Another School’s ‘Meet the Firms’ Event?

Welcome to the your-life-would-be-easier-if-you-just-embraced-Monday edition of Accounting Career Emergencies. In today’s edition, a graduate student wants to know if crashing another school’s ‘Meet the Firms’ event is a good idea or if it will land him on the Big 4 blacklist.

Looking for some career advice? Need help filling out your Holiday Gift list? Bored with your life after Big 4 and need some ideas on how to fill the hours? Email us at advice@goingconcern.com and we’ll and we’ll find you a hobby in no time.

Back to the Big 4 crasher:

I am attending a master’s of tax program in a small city that only has two Big 4 firms, only one of which does tax. As a result of this, the other firms don’t recruit at our school and won’t let us apply for associate positions because they don’t recruit at our campus.

A couple of classmates and I were wondering if it would be wrong to travel to a larger city and attend that school’s ‘Meet the Firms’ night next year to hand our résumés to the recruiters and get face time with them. Would doing this do more harm that good to us with the firms or would it show how much we want to work for them?

Thanks for the advice,
Small town accountant

Dear Small Town,

We like your enthusiasm for a road trip. This particular journey has a mission, however, so it has a little more significance than your average cruise through the desert with a trunk full of narcotics but we understand you’ve got your future career to consider. Anyway, we’re all for this idea for a couple of reasons: 1) It’s a relatively low-risk proposition that could pay big dividends and 2) If you’ve got some self-control, the trunk full of narcotics could still happen.

That said, the most important thing to keep in mind while on your recruiting journey is that you are wandering into enemy territory (so to speak). This means you’ll have no choice but to be completely honest about your non-affiliation with the school. Your résumés will easily show this but any kind of misrepresentation will eventually torpedo your plans one way or another. Clearly explaining your situation to the firm recruiters will demonstrate your willingness to go the extra mile (or 50 to 100) and assuming you’ve got a stellar résumé, it will likely impress them even more.

As for the risks – your rival school could just up and throw you out once they find out that you’re not affiliated with the school. For starters, you’re jockeying for face time with the firms at the expense of their students. As long as you don’t make a spectacle of yourself, we feel there’s only a small risk of you getting the heave. Likewise, one of the firm’s recruiters may frown on your little crashing escapade but frankly, if you don’t make it seem like a big deal, they won’t either.

So we say go for it – show up, shake hands, chat ’em up and who knows what will happen. You’ve got very little to lose except maybe a job.

Anyone out there who has crashed a recruiting event is invited to share the highlights or if you agree/disagree with the advice, chime in below.

A Future McGladrey Associate Is Having Second Thoughts About Their Decision

Welcome to the your-day-can’t-be-worse-than-Julian-Assange’s edition of Accounting Career Emergencies. In today’s edition, a college student who accepted a fulltime gig with McGladrey is spooked after reading some kvetching about the firm on this here site. Did he make a bad choice?

Caught in a jam at work? Thinking about blowing the whistle? Concerned that the washrooms at your office aren’t sanitary? Email us at advice@goingconcern.com for lawyer recommendations or hand-washing tips.

Back to the morose McG soon-to-be:

I am a college student in the Southeast region of the United States. I am a graduate student and have accepted an offer to work full time at McGladrey (audit) in this region.

I have seen so many negative remarks on your website from comments and articles about the company, that I am somewhat concerned with my choice of firm. I seemed to fit in really well with the people at the office, and I enjoyed the office visit. I received offers from the other middle market companies (GT, BDO), but I felt best at McGladrey.

Seeing comments that compare McGladrey to McDonald’s is a bit disconcerting considering the fact that I have spent so much time and effort in college trying to gain a good job with security.

My ultimate question is, did I make a bad decision? Is McGladrey really THAT bad, or is it comparable to the other mid-tiers? To me, it seemed to meet the standard of the mid-tiers.

Please help me figure out if I need to try and make a move before I start.

Dear Unhappy Meal,

In case you haven’t noticed, the peanut gallery here at Going Concern is a cheeky bunch (love!) and your concern about the comments that you’ve read on various posts is a little overblown, in our opinion.

For starters, trust your instincts. You made the best decision based on your experience with the three firms you mentioned. Now, all of a sudden, you’re spooked because you read a few comments comparing McGladrey to McDonald’s? Have you read the comments on the Grant Thornton threads? They are, at the very least, on par with the spouting on the Mickey G posts.

Secondly, our most recent post about McGladrey was news of extra paid time off, concierge services, bonuses and babysitters. Babysitters! Does that sound like such a bad place to work? Yes, it’s the McG brass giving you the “we appreciate your hard work and this is our show of thanks” line and that always invites skeptical reactions but you show us one firm that doesn’t experience some backlash and we’ll show you firm that doesn’t exist.

So to answer more directly – you didn’t make a bad decision because you went with your gut. You made the best choice for you and not based on what you heard some anonymous commenter say. Go forth with confidence, grasshopper.

Here’s The Only Guide to Your Accounting Career You’ll Ever Need

As many of you already know, when an accountant walks into a room of non-accountants and tells everyone what he does for a living, the first question is usually “can you do my taxes?” That stereotype was exactly what industry veteran Stan Ross hoped to blow to bits when he worked with the AICPA to create the new book The Inside Track to Careers in Accounting.

“The bell rang when the grandkids kept asking ‘what is an accountant and what do you do?'” he told us. Wanting to answer that question without simply printing out a picture of a guy hunched over a 10-key in a green eyeshade, Ross put together a guide to various career paths inorate, government and non-profit accounting. It includes interviews with industry rockstars like Ernst & Young’s Jim Turley and former AICPA chairman Ernie Almonte. Hundreds of industry experts and professionals were interviewed in the development process, with the best of those included in the book and accompanying CD-ROM.

Covering everything from education to licensure, compensation to careers, Ross cut no corners to put together an all-in-one resource for those considering accounting as a career or even accountants looking to switch career paths and take on a new specialty.

The Big 4, et al.

Those interested in a career dedicated to public accounting will find tips on getting hired, moving up the corporate ladder, interning and even dealing with awkward intergenerational exchanges. One excellent piece of advice: “From the moment you start with the firm, try to learn as much as you can in your current position, and learn from your supervisors, the people you work with and others in the firm. Ask questions not just about your current position or work assignments, but about the larger firm, its organization, its services and its people.”

Who needs public?

If corporate accounting is more your style, you can follow the corporate ladder from staff accountant to CFO, working in management accounting (sorry, that means cost accounting too), payroll, A/P, internal auditing, financial reporting, tax or IT. Corporate accountants can also work in forecasting, working closely with department managers, the CFO and/or top executives within the organization to weigh in on the company’s plans and budget forecasts. As of 2007, there are 31 million businesses in the United States and they made a combined $26 trillion in revenue – don’t you think those businesses need sharp talent to crunch their numbers?

Are you good enough for government work?

Let’s not forget about government accounting. Ross told us that he initially did not even plan on putting in a separate chapter for government but in his research for this book, he discovered that there are unlimited possibilities in government and it just made sense to put them in. “When we talked to government people and regulators, we found out how many different career paths were there; city, state, county, all the agencies, the Federal Reserve… it was unlimited!” he said. Those interested in a government accounting career could find themselves working for the State Department, NASA, the FAA, the DOD, the GAO, the FBI, the IRS and many other agencies. You can find more information on opportunities in government (a booming industry when everyone else is hurting, you know) via the AICPA’s website here.

Forget profits

Last but not least, Ross highlights opportunities in non-profit accounting. Non-profit includes public charities as well as universities, private foundations, HMOs, labor unions and business/professional organizations. According to the book, The Conference Board said in a 2007 report that “widespread executive-level and leadership skill shortages currently affecting many nonprofits are predicted to get much worse as the sector expands and experience executives retire.” That means the sector needs qualified accountants who, unfortunately, can expect to earn less than for-profit positions but get reimbursed through warm fuzzy feelings and real world experience with non-profit accounting.

Ross reminds all of us that the best bet is always to seek out a mentor (or several) and use their knowledge to your advantage. Want to switch career paths? Track someone down who already has and ask questions. Want to find out the quickest way to climb the public accounting ladder? Listen to someone who’s done it already and learn from their mistakes and experience. Ross himself mentors hundreds of USC students and you better believe mentored students have a better chance to be promoted as they’ve gotten a broader picture of their future industry outside of the traditional black and white of their accounting school textbooks.

So whether you’re miserable in your current position or just starting out in your accounting career and trying to figure out which path to take, The Inside Track to Careers in Accounting will give you plenty of food for thought and useful information on what lies ahead, regardless of which fork in the road you head down. Accounting is no longer just doing taxes (as if it ever was) and, as Ross says, it is the best foundation for any career path, be that CFO, COO, investment officer or just about any corporate world gig dealing even indirectly with budgeting, finance and economics.

Ya get it? We hope so.

Big 4 Manager Needs Help Determining If He Is Underpaid

Welcome to the squelch-the-tryptophan-withdrawals-with-cyber-Monday edition of Accounting Career Conundrums. In today’s edition, a Big 4 manager is pret-tay sure he is underpaid. How can he broach the subject with a partner without causing major blowback?

Need career advice? Want gift ideas that will score some points with a boss in your life? Wondering where you can find an old PwC backpack? Email us at advice@goingconcern.com and we’ll sniff out a deal or a homeless person.

Back to our short-changed manager:

I was wondering if you could provide advice in how to determine if I am being underpaid and if I am how to go about asking for an increase? I am a 1st year Manager for a Big 4 firm in Kansas City. I have been with the same firm/office my entire career sans a 2 year secondment I completed in Dublin just in August. In addition, to having my CPA license I also hold the CFE certification and the CFA charter.

My feelings for asking for a raise are based on the additional certifications and knowing that my salary as a 1st year Manager is less than what 3rd year Sr. Associates were making in my office 2 plus years ago. I know the economy has changed during the subsequent 2 years but still feel like I am not fairly compensated. What advice do you propose? I am nervous about sharing my thoughts with my Partner as I am afraid of a potential backlash. Thanks in advance.

Dear Alphabet Soup,

Think you’re underpaid, huh? Seems to be theme around here. However, your situation is more unique than most so we’ll make a run at this.

First thing we noticed about your situation is that you’re a M1 which means you were recently promoted, which also mean you should have just received a better-than average raise. And we’re more than a little skeptical about your assertion that a SA3 is making more than you. That would have to mean that SAs are getting insanely good raises while you – the newly promoted manager – got an abysmal one; it seems unlikely. If this in fact the case, then you’ve had a serious string of bad luck.

As for determining whether or not you are underpaid, we suggest you speak to a professional recruiter in KC to find out whether or not your credentials and international experience or currently undervalued. If the recruiter takes a look at your résumé and starts drooling, you’ll know that he/she can earn a fat commission placing you somewhere else. If they shrug and say, “Look friend, you’re doing pretty well. But let me tell you about this great opportunity…” then your salary is probably fair.

When it comes to talking to a partner about this, be sure you’re speaking to someone you trust and just be honest. Make your case with facts. Don’t go speculating about what a SA3 is making because that turns the conversation to something that is out of your control. Highlight your credentials, international experience and why they bring value to the firm and your partner.

They’ve heard the “I’m underpaid” sob story a million times. You’ve got to prove to them that your case is an exception to the run-of-the-mill bellyaching.

Decision Time: A Promotion with Deloitte or a New Opportunity with Ernst & Young?

Welcome to the why-do-we-bother-on-days-like-today edition of Accounting Career Conundrums. In today’s edition, a young consultant has a pretty sweet gig with Deloitte in DC but has a very interesting offer with E&Y in NYC. What’s a boy to do?

Does your career need a change? Need cheering up? Looking for some last minute advice on the dysfunctional hell that you’re about to walk into tomorrow? Email us at advice@goingconcern.com and we’ll make it all better.

Returning to the Decider:

Hi,

I am currently a second year consultant in the federal practice in Deloitte in Washington DC. I recently interviewed with EY and got an offer for staff advisor role in New York City. Though my pay raise is not significant (in fact the same, since cost of living is higher in NYC), the position is something that really interests me as it deals in financial consulting and is not audit oriented.

The flip side is that i have been a strong performer at D and am most likely to get promoted at year end. Do you think it makes sense to leave D at this juncture and jump to EY even though I am not being offered a senior position, I am not getting a significant pay raise but the job description is something I have always wanted to do.

Please help me out as I need to make a decision by week-end.

Confused,

Dear Confused,

You simply couldn’t let us cruise into a four day food and drink bender, could you? Very well, then. We are here to help after all.

This is a clear-cut situation of figuring out what your priorities are. You make a decent case for each position, so it’s time to line up what’s most important and make a decision based on that.

It really boils down to this: love or money? Your gig at Deloitte sounds pretty good. You’re in an high-profile group at the firm, looking at promotion, probably more money and – as far as we can tell – you don’t hate the work. All good things.

But the opportunity with E&Y has obviously piqued your interest. Different city. Different firm. Different opportunity. Sure the money won’t go as far and you’ll probably live in a broom closet but there may be more than a sliver of a chance that you will love it.

Some people will say, “You’re doing a disservice to yourself and your career,” if you were to take the E&Y gig. “You’re giving up a promotion and the years of experience earned at Deloitte for a longshot,” they might also say.

Personally, we like longshots. All kinds of people in Big 4 and top ten firms continue to choose to stay on the path they’re on because it’s easy and things like higher salaries and more prestigious titles are hard to turn down.

If you’re genuinely interested in the work that comes with the E&Y position, we say go for it. You’ll never look back and wonder what would have happened if you didn’t take that risk and this may be the rare opportunity that you’ve been waiting for.

Chew on that (along with your poultry of choice tomorrow) and then go make it happen.

Stop Worrying About Things You Can’t Control

The following post is republished from AccountingWEB, a source of accounting news, information, tips, tools, resources and insight — everything you need to help you prosper and enjoy the accounting profession.

The first person you have to manage every day is you. You want to be in a strong position at work. You want to take charge of your role in every relationship with every boss. It’s just that there are so many factors beyond your control at work.

I’ve done hundreds of focus groups with thousands of people around one very simple question: What gets in the way of your success at work? Like clockwork, nine out of 10 responses are factors that are totally beyond the control of the individual.


What gets in the way of your success?

• Company policies, rules, regulations, corporate culture, standard operating procedures
• The way things have always been done around here.
• There is too much work and not enough time.
• There are too many low-priority activities that take me away from my most important tasks and responsibilities.
• There is a lot of conflict between and among employees, which creates a stressful, negative mood.
• Resources are limited and sometimes I don’t have the people, materials, and tools that I need to do the job.
• There is no clear chain of command in this organization.
• I answer to too many different people.
• My various bosses each have different standards of performance and conduct.
• My various bosses each tell me conflicting things about what should take priority.
• My various bosses each tell me conflicting things about rules and policies.
• Some bosses yell and scream and make things difficult.
• Sometimes bosses don’t make time for me one-on-one, some bosses don’t make expectations clear, and some don’t keep track of performance.

Sound familiar? There are so many factors beyond your control.

But you control you. You control your own thoughts, words, and actions. You control your attitude, commitment, time, effort, and your ideas. You are responsible for playing your role to the best of your ability every day at work. So be powerful. Focus on what you can control: You.

First, make sure that the first person you are managing every day is you. Make sure you are taking good care of you outside of work so that you are bringing your very best to work every day. Arrive a little early. Stay a little late.

And while you are at work, you need to be all about the work. Your work, that is. Focus on playing the role assigned to you before you ever try to reach beyond that role. Focus on your tasks, your responsibilities, your projects. Focus on doing them very well, very fast, all day long.