Whole Foods CFO Is Going to Be Fine
Don’t you hate it when you start a new job and then, seemingly out of nowhere, another company comes along to buy your employer, likely eliminating the need for your position? And don’t you hate it when that all goes down and you pull in a few million for your trouble? That’s what Whole Foods […]
The Window Is Closing: Take Going Concern’s Accounting Salary Survey
Our first annual Accounting Salary Survey is off to a great start. If you have not yet completed the survey, what have you been doing? Right now we now have hundreds of responses from people at large, mid-tier and small firms, spanning the full range of industries, experience and roles, all the way from staff […]
Accounting News Roundup: Employee Turnover and Tax Reform Delays | 05.18.17
Employee turnover A recent Robert Half survey found that 42% of workers are considering quitting their jobs in the next year. The number is even higher among people aged 18-34, with 68% saying they’re likely to change jobs in the next twelve months. What’s most interesting, though, is management’s understanding — or lack thereof — […]
Freelancing CPAs: What’s the Risk?
Freelancing CPAs out-earn salaried employees in 900 fewer hours a year. That’s 900 hours – I repeat – 900 hours to watch all four hundred plus episodes of Law and Order SVU… twice. That would still leave you time to start your own side project, raise a family, or travel the world. Or, you could […]
Take Going Concern’s Accounting Salary Survey
Are You Getting Paid What You Are Worth? It is time to assess where the accounting industry is headed with regard to compensation levels. This is your chance to see how your comp plan stacks up against the industry. You are invited to participate in Going Concern’s first annual Accounting Salary Survey, which we are […]
Accounting News Roundup: CMA Salaries and the Fight Over Corporate Interest | 03.17.17
Salaries Hey, congratulations to all the CMAs out there: CMAs of all ages earn more than non-CMAs, according to the IMA, which provides the CMA credential. CMAs aged 30 to 39 earn a median salary 49 to 50 percent bigger than non-CMA in the same age range. CMAs believe their certification leads to career opportunities […]
Big 4 Myth Busting: Staying Until Manager
It’s 2017 and the rules have changed. Taco shells are made out of fried chicken skin, the Syracuse mascot can get elected president, and you don’t have to stay to manager in public accounting to maximize your career.
LinkedIn Becoming More Miserable By Telling Everyone How Underpaid They Are
Pardon me for not paying attention, but someone just sent me this article about LinkedIn Salary and, I have to say, it's a pretty good idea. Not that it's novel or anything, but it will get people to 1) Give LinkedIn more data; 2) Get people to visit a site that they hate visiting. Maybe […]
Hey Look, Some Bay Area Big 4 Senior Associates Aren’t Happy With Their Pay
While I was on the road last week, a thread from r/accounting dropped into my inbox: Big 4 Bay Area office thought it would be a good idea to screw seniors with one of the worst raises since 2008 and whoa boy: They thought an $85k cap on all Seniors, regardless of performance, was a […]
Here’s Your Open Thread for KPMG Compensation Discussions (2016)
Now that it’s fall, many public accounting professionals have been rewarded for all the hard work they put in last year. Some people are happy, some people are sad and everyone is still thinking, “I don’t get paid enough for this shit.”
Starting Salaries for Accounting Positions Keep Going Up
If you're a college student studying accounting, prepare your gloat face. Starting salaries for accounting and finance positions are expected to go up 3%-4.3% next year according to Robert Half's new salary guide.
Here’s Your Open Thread for Deloitte Compensation Discussions (2016)
Just as soon as we put of up the EY compensation thread, tipsters out of Deloitte started crowing for theirs, including this one:
Here’s Your Open Thread for Crowe Horwath Compensation Discussions (2016)
It's unfortnate that we don't hear more news about Crowe Horwath. It's a Top 10 firm with more than $700 million in revenue last year. That means it's only one big merger away from joining the billion-dollar firm club and closing the gap between it's Tier-2 rivals — RSM, Grant Thornton and BDO. WHAT ARE […]
Accounting Firms and the New Overtime Rules
As you may have heard, the Obama administration announced new rules this past week that will make millions of salaried workers eligible for overtime: Under the new regulation to be issued by the Labor Department on Wednesday, most salaried workers earning up to $47,476 a year must receive time-and-a-half overtime pay when they work more […]
Comp Watch: Strategy& People Having the Last Laugh
Hey gang, remember a couple years ago when PwC acquired Booz & Company? Remember how we all hoped the new firm would be named something fun like Boozerhouse or BoozeCoop or Company? Remember how they went with Strategy& and no one got it and it harkened everyone back to Monday and we all had a […]
Study: Women Even Less Willing to Put Up With Crappy Pay Than Men
Partners at accounting firms probably have a hunch about why women don't stick around, but that hunch is probably wrong: A recent global ICEDR study revealed that leaders believe that the majority of women around the age of 30 leave because they are struggling to balance work and life or planning to have children, whereas […]
Bonus Watch ’16: Underachievers
Good news for the lion's share of you who are unexceptional: you're getting paid!
Accounting Firms Need To Have More Transparent Conversations With Employees About Compensation
I missed this HBR article from earlier in the month, but it's about money, so I figure it's worth covering.
Last Call for Compensation Discussions
Should you be looking for the discussion of KPMG compensation for this year of our lord, 2015, let us direct you this way. And should you still want to participate in any of the comp discussions from this year, here are the firms we covered: Baker Tilly BDO Deloitte EY Grant Thornton McGladrey PwC That's […]
Would You Work for Revenue Share?
This post is inspired by Jeff Maddux CPA, so you can send your hate mail there. Just joking keep it coming, I love it! His idea (see tweet exchange) was actually really good. You don’t need me to harp on about value based billing (It’s almost as played out as "cloud"). Our firm was on […]
Here’s Your Open Thread for KPMG Compensation Discussions (2015)
Aka: KPMG Kompensation Konversations or KKK for short.
Employers Willing to Haggle Over Salary for Decent Accountants
Accounting Prinicpals has found that employers looking to hire accounting and finance professionals are more willing to negotiate over salary than they were "six months […] to a year ago." That's good news for anyone who correctly answers the most important interview question that accountants are asked. [JofA]
KPMG Kompensation Konversation Kountdown
We're in the late innings of compensation season, which is always a sad time. Or, for some of you, a relief. If you're still catching up on the discussions among the largest accounting firms, please direct yourself down to the bottom half of the page where you can see all of the firms we've covered. […]
Compensation Threads, Now With Extended Hours
Because our editor has been predisposed most of this week and you've been so well behaved, we're re-opening compensation discussion comments for your reading and kvetching enjoyment. It's also a nice surprise if you were late to your firm's compensation discussion and didn't get to participate (although it doesn't explain what you've been doing all […]
Here’s Your Open Thread for Deloitte Compensation Discussions (2015)
It's been an interesting year at Deloitte.
They became the first accounting firm to elect a woman as CEO. They're trying to do away with performance rankings. And Deloitte Disneyland has made every one of us sick (envy for non-Green Dots; indigestion and wicked hangovers for the employees).
How Would Salary Transparency Go Over at Accounting Firms?
In case you're new round these parts, compensation is a popular topic of conversation.
This Way, Please
You look lost. You'd like to find some lively discussions about compensation at the largest accounting firms, you say? Lucky you, we know of some: PwC McGladrey Baker Tilly Grant Thornton BDO If your performance reviews and compensations chats have occurred and you want to discuss them, send us info or start a thread in […]
Looking for a compensation discussion thread, you say? There are several going on right now, so follow these links to your firm of choice: PwC McGladrey Baker Tilly Grant Thornton If your firm deserves a thread of its own, drop us some info on the process and timing or throw one up in Open Items.
Here’s Your Open Thread for Grant Thornton Compensation Discussions (2015)
The last time we teased with talk of GT compensation, our tipster seemed impatient and harboring inflated expectations. Hopefully most of you McGuire Munchkins are either more patient or realistic about your comp news. Or perhpas you've adopted, "I don't care about money anymore," as your personal comp season motto. That'd be a fun surprise […]
Here’s Your Open Thread for Baker Tilly Compensation Discussions (2015)
We were gently reminded that Baker Tilly compensation discussions happened around this time last year, so it behooves all of us to start the 2015 version today. It should be mentioned that in last year's thread the first comment warned against participating in the merrymaking: We were specifically warned by management not to share results […]
Here’s Your Open Thread for McGladrey Compensation Discussions (2015)
Some restless Mickey G’s (soon-to-be RSM) employees have been tapping on our shoulders this week:
Here’s Your Open Thread for PwC Compensation Discussions (2015)
Oh, look, it's mid-June. Busy season is over and compensation season is here. Yes, it's time to find out which of you have been justly rewarded for your efforts and which of you are feeling like an untipped bathroom attendant. PwC is always the pacesetter in comp discussion season and we appreciate their consistency, as […]
Counteroffers Rarely Work for Employees Jumping Ship
A recent Robert Half study found that 78% of CFOs don't extend counteroffers to employees who are leaving. Chris Jensen, CPA, cgma, explains: “In most cases, when someone leaves and gives you the heads up, it’s probably best for both parties to separate,” said Jensen, the CFO at Pinnacle Exhibits in Hillsboro, Oregon. “They’re ready […]
Is the Pay Gap in Public Accounting Firms Widening?
American Lawyer has an interesting story about the growing pay gap in law, meaning a small handful of top guys are bringing in $10 million or more, while the low level grunts at the associate level are bringing home a paltry $160,000, on average. Let’s take a look:
#TBT: What a Competent American Accountant Made in 1910
Since you guys care so much about salaries, let's talk about what the average accountant made in the year 1910. This was before the The American Association of Public Accountants (AAPA) changed its name to The American Institute of Accountants, which would become the American Institute of Certified Public Accountants in 1957. From this pretty […]
Celebrate the New Year with Accounting Salaries Charted by Company Type, Role, Service Line and More
We present the following charts for your enjoyment, amusement, and/or bewilderment.
Here’s Your Open Thread for Public Accounting Full-Time Offers: Fall 2014
Did you recently get an offer? Have you been dying to have an avenue to share how much you'll be making and who you'll be working for? BOY are you in luck! This is your place to find out how your offer stacks up. If you're feeling cheated — or, worse, if you didn't get […]
The CGMA Blog is Excited About the CGMA Exam
Because of course they are. Excited? About an exam? Seriously? Yes, seriously. As studious and determined people with big dreams and ambitious life goals, we’re used to being tasked with reciting formulas, choosing the best answer and memorizing large quantities of information in order to prove our aptitude in traditional school subjects. But how do […]
Survey: What Was the Salary at Your First Accounting Job?
If you remember, that is. Personally, I do. The job was with a boutique CPA firm and they offered, and I accepted, $43k. This was 2003. I imagine most people vividly remember their first job's salary. The feel of the paper it was printed on or the person who called with the news. But the […]
How to Find All the Compensation Threads on Going Concern For Total Idiots
So, the other day we got this gem in the tip box — which, by the way, isn't supposed to be used for crap like this as I have told you people 1,000 times: This website is terrible and very disappointing this year. It is impossible to find comp watch's for 2014 for big 4. […]
Lifehacker Makes the Crazy Suggestion Salaried Workers Should Calculate Their Hourly Wage
My fellow salaried workers, take a moment to read this: In a (very good) Quora post, [film producer Christopher] Pollock lists 10 lessons everyone should know about personal finance. They're all great, and many are lessons we've talked about before—but this one caught our eye: "Your hourly earnings are important. Your annual earnings are not. […]
Here’s Your Open Thread for KPMG Compensation Discussions (2014)
We have held off on this one as long as we can, but some of you are anxious to get the results from our Compensation Survey and the only thing holding us up is this here compensation discussion. So let's get to it! Since compensation season kicked off, we've learned that accounting firms are having […]
IMA Survey Shows Men Make More Than Women and Certifications Matter
The Institute of Management Accountants salary survey came out yesterday, and you should check it out if you're into that sort of thing. Quickly while we're on the topic of salary, consider this your friendly reminder that the Going Concern Compensation Survey is still open and it would be great if you can take a […]
FT Offer Watch: Public Accounting Starting Salaries for the Class of 2014
We know those of you awaiting offers have been watching compensation threads tick by thinking to yourselves "man, I can't wait to get my offer and compare my salary to those of my fellow interns-turned-FTers in one big monetary weenie measuring contest on GC!" and day after day goes on with no one mentioning offers. […]
Deloitte Compensation Discussions Redux
We sent out a little reminder about where to find the EY comp thread earlier this week and it seemed to help a lot of people find their way. But judging by the activity, it seems some Green Dots could use some help finding their money talks/bs walks thread as well. Allow me to direct you Deloitte […]
Here’s Your Open Thread for Deloitte Compensation Discussions (2014)
The Life at Deloitte Twitter account didn't tweet about compensation discussions happening (although we do know she recently moved to the new Orlando consulting hub and she's a legal Florida citizen now), but the tip box delivers: Deloitte Tax national comp webcast was today. On Aug 21 everyone will receive a statement online with raise […]
Here’s Your Open Thread for Crowe Horwath Compensation Discussions (2014)
It's August. It's hot. The collective stench of human bodies and rotting trash hangs around like that unwelcome friend who won't stop talking about his latest dating failure. There's little you can do but hold your nose and wait for it to pass. Lucky for us, we can still have the public accounting firm summer […]
Grant Thornton to Employees: “Your Compensation Notice Is In the Mail”
We wondered why our premature Grant Thornton compensation thread was a tad crickety. Now we know. From our tipster: We just got a message from National HR regarding comp adjustments. It appears that all comp adjustments will first be communicated via snail mail, as opposed to one-on-one conversations in with practice leaders. In years […]
(UPDATE) Here’s Your Open Thread for Grant Thornton Compensation Discussions (2014)
This just in: GT has received performance ratings in the West Region (If not entire U.S.). Compensation talks are beginning for FY14. OH JOY, someone alert the media! Oh wait, we are the media. Well consider us alerted! Last year, the news was bad, even by Grant Thornton standards. We aren't sure what to expect […]
Compensation Survey: Which Firm Pays the Most?
We've only been talking about this endlessly since we first put it together but until we close the Going Concern Compensation Survey (hey look there's a link to it, you should go take it), we're going to keep talking about it. In order to keep your interest, we're going to tease you with a fancy […]
Comp Watch ’14: Here’s Your Open Thread For McGladrey Compensation Discussions
We're coming straight out of Comp…ensation today with word that McG is joining the comp party with talks that started late last week: I just wanted to mention that McGladrey has started their compensation meetings so you may want to create a thread at this point. Consider your wish granted, young man. Two things: this […]
Here’s Your Open Thread for Baker Tilly Compensation Discussions (2014)
Yes, Baker Tilly. We believe in equal opportunity kvetching when it comes to public accounting employees and their pay. We received this tip in the tip box late yesterday: Ratings and promotions have been announced for Baker Tilly, at least in the Greater Wisconsin region. Compensation talks shouldn't be far behind. Now, because ParenteBeard is […]
(UPDATE) Here’s Your Open Thread for PwC Compensation Discussions (2014)
Over the last 24 hours, we have been bombarded with tips that PwC comp discussions are happening. Historically, PwC has been first to kick off comp talks and it appears that's the case this year as we've yet to hear about any discussions at other firms. Let's head to the tip box and see what […]
Survey: CFOs Digging Deep Into Bag of Tricks to Attract Talent
In an unexpected revelation, an Accountemps survey found that CFOs plan to offer more money and better benefits to attract professionals with "in-demand skills." Of the 2,100 finance chiefs surveyed, 46% are improving benefits and 45% are boosting compensation. In an earlier survey, Accountemps found that CFOs are on the lookout for professionals with "[g]eneral […]
Comp Watch: Public Accounting Partners and Their Buckets of Money
This is per Accounting Today by way of the Rosenberg Survey: Income per equity partner at the nation’s CPA firms jumped 5.5 percent in 2012, climbing to $386,000, according to the recently released 2013 Rosenberg MAP Survey. If you have an extra $450 sitting around gathering dust, you can pick up your own copy of […]
BREAKING: Staff Leaving CPA Firms for More Money
According to the Rosenberg MAP Survey, which you can buy here if you feel like dropping $450, turnover at some CPA firms saw their turnover go up 50% in 2012. GAHHHHHH! Wait, it's NBD: Yes, turnover increased 50%. But the 16-18% range is about where staff turnover was at before the recession and where it […]
Here’s Your Open Thread for KPMG Compensation Discussions (2013)
UPDATE: Hopefully by putting this post front and center, this will eliminate any confusion. But try to use your inside voices. Some of us are trying to work. UPDATE 2: It's been nearly week so we're moving this post over to the margin. Instructions re: inside voices still applies. It has been a year of […]
Here’s Your Open Thread for Rothstein Kass, Crowe Horwath, BKD, Moss Adams et al. Comp Discussions (2013)
A year ago TODAY we did the et al. compensation thread for any and all accounting firms that typically fly below the radar, so it seems fitting that we would mark the occasion again on August 29th. Plus, someone at Rothstein Kass is practically begging us: Can you please open a compensation thread for Rothstein […]
Here’s Your Open Thread for Deloitte Compensation Discussions (2013)
Back in late June, someone in Deloitte Tax was feeling optimistic enough about this compensation to share their thoughts with us. Now it's mid-August and someone's anxiety has gotten the best of them:
Here’s Your Open Thread for Grant Thornton Compensation Discussions (2013)
ICYMI: McGladrey Compensation Discussions Have Started and People Aren’t Getting Their Hopes Up
If you're of the House of McGladrey and you can't find the compensation thread, let me point you this way. Since conversations started on Friday, reactions are just starting to roll in and will continue through next Friday, but one source responded to our question of people's expectations this way: Tempered would be a good […]
Bonus/Comp Watch ’13: KPMG Advisory
Sometimes on a hot summer day there's nothing better to do than talk about but money. A recent memo from KPMG's advisory leadership entitled "Outlook for 2013 Compensation" is happy to share the news that FY 2013 has been motoring along and that they are cautiously optimistic the last quarter will round out nicely: We […]
Here’s Your Open Thread for McGladrey Compensation Discussions (2013)
Historically, mid-July is when things get rolling at McGladrey and yesterday we received the first notice that things were starting this week. Email went out that compensation and bonus discussions would begin on 7/12 and conclude by 7/26. I think a McG comp thread is in order. So you have all of today to gird […]
Promotion/Comp Watch ’13: Optimism in Deloitte Tax
I just flew in from Las Vegas and boy, are my arms tired. Thanks for your patience. Your reward is the latest chatter on the promotion/compensation watch from Deloitte Tax: Deloitte Tax in Chicago let its TCII's know who is going to be promoted to senior, so I'm assuming other individuals getting promoted to manager, […]
Comp Watch ’13: At Least One Grant Thornton Dynamo Is Optimistic
On Monday, compensation kvetching season officially kicked off with PwC. Papa Whisk(e)y Charlie generally sets the tone for the rest of the summer and we see some firms adjust their plans accordingly. Of course there are plenty of firms that don't adjust their plans, but probably do so at their own peril. ANYWAY. The PwC […]
Comp Watch ’13: This Year’s Accounting Graduates Will Be Resented More Than Ever
With an average starting salary of $53,300, the class of 2013 might have to endure some envious snipes from their Class of '12 co-workers: The average starting salary for accounting graduates this year is $53,300, up from $49,700 in 2012, Andrea Koncz, employment information manager for the NACE, told AccountingWEB. In 2011, the average starting […]
(UPDATE) Recruiting Season: Public Accounting Salaries for The Starting Class of 2013
~ UPDATE includes updated salary info after a flood of new submissions. Thanks to everyone that wrote in. Welcome to the final recruiting season roundup for 2012. Thanks for all your questions and freak outs this fall. If you ever encounter any interesting situations or simply have something on your mind that you want to […]
Compensation Watch ’12: Public Accounting Partners
The AICPA asked around and it turns out that most CPA firms across the country have a seen an increase in fees in the last couple years. That's good! Consequently, partners are doing a little better than they were just two years ago. That's good! So good, in fact, that everyone at the adult table […]
Compensation Watch ’13: Everyone
If you're one of those people that likes envisioning their career path several years in advance in order to make a bunch of elaborate plans that will likely be thrown off course by one or more life events/bad decisions, Robert Half's annual salary guide will prove quite useful. It has plenty of data, probably more […]
Public Accounting Firms Would Be Wise to Incorporate a ‘No Bitching’ Clause Into Their Bonus Structures
When you work in public accounting you meet a diverse group of individuals. They all have different life, education, and professional experiences and that’s what makes working for these businesses so interesting. Despite these differences, all these people have one thing in common. Something so basic, so fundamental to the culture of the public accounting […]
Comp Watch ’12: Crowe Horwath, BKD, et al.
Do you work for a public accounting firm? Are you employed by a non-Big 4 firm NOT named Grant Thornton, BDO, or McGladrey (thank you, Jeeeesus)? Have you received a raise and bonus that didn't meet your expectations and now you're feeling slightly envious of all the other public accountants out there whose firm gets […]
Compensation Watch ’12: Disappointment at Deloitte – UPDATE: Also, Offended!
After sending out a few fluffer posts in July to get everyone worked up, we've heard from a couple of people who had their compensation discussions today. So far the news has come from one audit and one advisory professional out of NYC. As is typical with many of you who send in tips, the […]
Bonus Watch ’13 and Beyond: Ernst & Young Rolls Out Performance Based Bonus Program
As the Black and Yellow comp conversations continue this week, we have some news to share with regards to the firm's bonus structure. Here's a tip that came in late on Friday: Advisory across all of the Americas had their "Super Friday" today (which is why no Advisory people have written in with their comp). […]
(UPDATE) Compensation Watch ’12: The Wait Is Over at Ernst & Young
Well, it's here. After getting everyone worked up a month ago, this week marks the start of Ernst & Young's compensation sit-downs. We've gotten word that some offices got started yesterday, some are starting today, and some start later this week. There are a number of people that have sent us messages who seem to […]
Compensation Watch ’12: Grant Thornton Starts Rolling Out the Numbers
Almost three weeks ago, we started the discussion for the Purple Rose of Chicago to help all the Grant Thornton dynamos gird their loins for this compensation season. We've received a number of requests for a follow-up since the discussions start this week and, finally, late last night someone shared their numbers with us: Grant […]
Compensation and Bonus Watch ’12: Deloitte Audit
As you recall, last week we went over the Deloitte AERS Advisory group's compensation numbers. Today, we have more comp data to share, this time for the opiners. Unfortunately, we don't have the financial results slide but most of all the other details will be included in this post. Let's get right to it, shall […]
Comp and Bonus Watch ’12: Here’s What Deloitte AERS Advisory Will Be Serving Up
Last week, we threw out a thread to get Deloitte's compensation discussion going which really dived into nothing of particular importance other than the usual bickering. It's possible that the discussion jumped the gun a bit, but if nothing else it got people lathered up and anxious for more details. Thankfully, we now have more […]
Compensation Watch ’12: McGladrey
As we continue to trudge on through the heat of compensation season, we finally heard from one of Mickey G's sherpas: Promotions are being [communicated] from 7/6-7/20 and then raises and bonuses are being announced 7/20-7/27. Soooo blue and green archers, discuss and kvetch as you see fit but we'll just remind anyone who thinks they'll […]
Compensation Watch ’12: KPMG
This summer has not been the most stellar at the House of Klynveld. The news of forced rankings has overshadowed the ice cream screams, and with no Omaha Steaks in sight, many are in need of something to get them through the rest of summer. Perhaps this is the week that it all turns around: […]
Here’s Your Open Thread for PwC Compensation Discussions (2012)
Now that you're all adequately prepared, the conversations that will probably make or break many at Papa Whiskey Charlie have started in earnest. We've received word that they go through July 12th, so consider this post the one stop shop for all happy dances, bathroom stall sobbing, and George Costanza-esque resignations.
Comp Watch ’12: Credentialed Accountants vs. Non-credentialed Accountants
Have you struggled to pass a certification exam? Is your reaction to colleagues that place various three-lettered credentials behind their name on their résumés a resounding "Meh"? Not too hung up on money? Great! You won't be bothered by this at all: The average reported salary of IMA members surveyed was $109,001 in 2011, down […]
Bonus Watch ’12: Top Performers in PwC Tax Get a Pat on the Back
This just in: Contribution awards at PwC were given out last pay period. Talking to who I perceive as top performers in my group (Tax line of service), the upper range of the bonus was $1k. Some (many?) at Papa Whiskey Charlie won't be satisfied by such a paltry sum – especially since several have new […]
Bonus Watch ’12: Grant Thornton Auditors Who Manage to Ignore Their Wicked Impulses
Question for the auditors in the crowd – have you ever come across a nefarious situation in your career and thought, "You know, if doing the right thing were to pay better than doing the wrong thing, I'd walk away from this client in a second."? Of course you have. That's pretty much the […]
Comp Watch ’12: CFOs
As many of you continue striving towards your career goals to occupy the CFO chair, we thought you might like to know a little information on how well that dream job pays. According to a recent Grant Thornton/Financial Executives Research Foundation survey, public company CFOs saw their average base salaries climb from to $286,500 to from […]
Comp Watch ’12: Big 4 Advisory
We have a special request from someone preparing for sit-downs at Ernst & Young: Any chance of an open thread for Big 4 Advisory compensation? Year end performance roundtables are going on at Black & Yellow; would be nice to get some ammo for negotiating before they make the comp decision. Earlier: Comp Watch '12: At Least […]
Comp Watch ’12: At Least One Ernst & Young Partner Is Throwing Numbers Around
From a tipster who is on his way out: A partner told me that raises for top performers will be in the 20% ballpark. Don't know if this is true. It was from a very Senior Partner in an Upper Midwest (not Chicago) office. He could just be talking. This is a Senior Associate 2 in the […]
Promotion and Bonus Watch ’12: Here’s a Confidential Guide for PwC’s Performance Review Process
Early last week we kicked off the compensation season 2012 discussion, thanks to the anxiety that is circling among the rank and file of accounting firms. Along with concerns over cold hard cash, some of you are probably curious about promotions. Luckily, someone was kind enough to leak us PwC's "FY12 ARC [Annual Review Committee] […]
Comp Watch ’12: Sizing Up the Big 4
It's the last day of April, which means that hopefully you've tied up all the loose ends that were left over from Busy Season 2012 (aka the best one yet). The month of May brings flowers, drunken afternoons at the baseball diamond in your fair city, and speculation about your compensation adjustments. Of course, some […]
Big 4 Advisory Intern Wants To Squeeze Blood Out Of A Turnip
Your daily serving of vegetables, brought to you by GC. Subject: Advice: negotiating a starting salary GC,I am graduating in December from a masters in accounting program and I am currently interning at Big 4 firm in advisory. I am hoping to get an offer after the internship and join the firm in January. Is […]
And Now, Let’s Compare Three Different 15-year Compensation Scenarios
By now, you've probably had a chance to meticulously dissect the two posts that illustrated what your compensation at a public accounting firm will roughly be over a 15 year period. The revelation that you can make a pretty nice living over that time span did little to convince some people that this public accounting […]
Let’s Take a Second Look at a 15-year Trajectory of Big 4 Compensation
Earlier this week we shared some data that was gifted to us by an accountant who had nothing better to do during his AUD study break than create a spreadsheet charting your compensation for the first 15 years of your illustrious Big 4 career. Everyone seemed pretty grateful for it though, as it got people […]
What Can You Expect to Make at a Big 4 Firm Over a 15 Year Period?
It’s mid-January, which means that at some point in the next four to six weeks or so, you’ll say to yourself, “I don’t get paid enough to do this shit.” And you might be right! But the good news is starting salaries for accountants keep going up. If you’re simply annoyed with your current boss/lunch/life […]
Bonus Watch ’12: KPMG Advisory Sets Some Expectations
Our tipster, "I Need to Be Top Rated," informed us that these came out "awhile back" but since everyone has been checked out the last two months, I forgive you. Current Level 1-Rated 2-Rated 3-Rated 4-5 Rated Director / Sr.Manager / Manager 11-15% 8-11% 3-7% 0% Sr. Associate 9-13% 7-10% 2-6% 0% Associate 7-11% 6-9% […]
Bonus Watch ’11: PwC Auditors Are Going to Ask Again, Nicely This Time
According to our inquisitor, there was supposed to be word of a little holiday cheer pre-Hanukkah: Any word on PwC Bonuses being paid out at year end? Folks in the Northeast assurance practice were suppose to be notified by 12/20. Okay, gang. Now maybe I'm mistaken but if you recall, someone asked a similar question right […]
Comp Watch ’11: Bellyaching By McGladrey Employees Seems to Have Paid Off
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Residents of the blue and green arches got news of their raises (or lack thereof) back in July and the results were mixed. Some we’re pretty happy while others could barely afford to celebrate with their own punch and cake party.
One way or another, the sound of the incessant bitching reached someone of importance in the Great Lakes Region because a tipster passed along the following:
Intended Audience: External Client Service Associates through Directors
You said it – and we listened. During this past performance review our leaders delivered what they thought was a ‘good news’ message about your October 1st salary increase. “The market is flat, business is below plan, your performance is great, and this is really a good increase – all things considered.” And yet, many of you still felt that your hard work and long hours and extra effort was not being recognized.
Now it’s time for us to step up and do what is right – for you! YES – You’re important to us and important to our success. You work hard all year and pull out all of the stops during the ‘busy seasons.’ Interesting phrase, “busy seasons” – we are always busy, and then there are those times when we feel we have delivered more than we even thought we could deliver. To recognize this and thank you for your hard work and commitment to our clients, effective October 16th [Yes, this was three days ago], you will be receiving a base salary increase! These raises are in ADDITION to any October 1st increases which were communicated during the most recent annual review cycle and will show up in your October 31st paycheck. The increases were determined by level and applied consistently across lines of business and geography. Anyone hired on or after May 1, 2011 are at market so no salary adjustment will be made.
There was a great deal of thought that went into the decisions that were made to continue to move salaries in the right direction. We looked at the market and considered how quickly it has moved, we revisited our competitors’ compensation data, compared this to what you are earning and what you could earn in comparable jobs at other accounting firms, and then made a decision to make adjustments so it is even more competitive than before.
You deserve this – and we’re glad you shared your thoughts with us so we could make some changes.
The Great Lakes Management Team
Well, this sets a very dangerous precedent, doesn’t it? Any year too many Mickey G’s employees find themselves slightly dissatisfied with their raises, they’ll simply piss and moan until someone at the adult table gets annoyed enough?
The questions now are 1) What the second raise will be? 2) Will that will satisfy the masses? 3) Would handing out autographed posters of McGladrey-sponsored golfers have solved this whole problem?
Your reactions are welcome below.
Comp Watch ’11: Big 4 Starting Salaries North of the Border
There’s been quite a bit of chatter out of Canada recently (Happy Thanksgiving, btw) and we now have some of the details for those receiving offers from 3 of the Big 4.
KPMG is offering $40,800 per year. They claim they will pay over time if you work over 40 hours per week.
PwC is offering $40,800 per year with a 0-15% bonus based on performance.
EY is offering $40,500 per year. No mentions of overtime.
This is for the Toronto offices and these figures are all in Canadian Dollars, which comes out to slightly below $40k USD but with the possibility of overtime, obviously the haul could be a lot more. If you’ve heard different numbers (or any Deloitte numbers at all) for these firms, get in touch or discuss below.
Comp Watch: Vault Ranks the Firms That Give You the Most Bang for Your Buck
All of you people have dreams. Not your-name-in-lights dreams, however. Most of you are more interested in shopping-at-Bergdorf’s dreams. But which firm is going to give you the best combination of salary/bonus/Omaha Steaks to make you happy? Vault’s Compensation Ranking should give you an idea. Here’s your Top 5 out of 20 (previous year’s ranking in parenthesis):
1 (11) SS&G Financial Services
2 (5) Armanino McKenna
3 (8) WithumSmith + Brown
4 (7) Dixon Hughes Goodman
5 (1) Marcum
Where are the Final 4 Horsemen of the Accounting Firm Apocalypse, you ask? Well, a couple of them are completely MIA. Here are the other two plus some notables:
9 (10) Rothstein Kass
10 (NR) Grant Thornton
14 (19) CBIZ/Mayer Hoffman McCann
15 (18) Moss Adams
19 (20) PwC
20 (17) Deloitte
Seriously, I think Stephen Chipman is putting something in the water at Grant Thornton. Whatever it is, KPMG and E&Y would be wise to get their hands on it. Check out the full ranking if you’re not satisfied. And feel free to share feelings on your firm’s presence (or lack thereof).
Accounting Firms Rankings 2012: Best to Work For: Compensation [Vault]
Comp Watch ’11: PwC Partners Making Deloitte Counterparts Look Like Peasants
The FT reports that the average partner in the UK took home £763,000, up 1% from last year. Ian Powell, the Chairman of the UK firm, took home £3.7 million. The average take home at P. Dubs puts Deloitte partners to shame who only managed to scrape together an average of £758,000, down from £873,000. What does the mean for the partners in the States? Probably nothing but it could indicate that Deloitte’s reign as the biggest of the Big 4 could be a one year wonder. [FT]
Study Suggests That If You’re Not Happy with Your Salary, You Might Try Being More of a Contrarian Dick
[R]esearchers examined “agreeableness” using self-reported survey data and found that men who measured below average on agreeableness earned about 18% more—or $9,772 more annually in their sample—than nicer guys. Ruder women, meanwhile, earned about 5% or $1,828 more than their agreeable counterparts. [WSJ]