Last we checked on Deloitte’s compensation news, it was news of the wealth being spread around more than last year, although no one was really impressed based on the discussion that followed.
“It was announced at a Tax meeting last Monday that the average raise for NE Tax would be 5% this year.”
Since Dr. Phil recently said that raises weren’t going to return to “pre-recession levels” an average raise of 5% may be in the ballpark. Then again, this is only the tax practice…
Anyhoo, our source told us that reactions boiled down to:
1. After axing or transferring everybody from the Stamford, Wilton and Hartford offices, they better pay the remaining people more!
2. At least it’s more than the average of 0% last year…
If you don’t fall into either camp 1 or 2, make your opinion known. Otherwise, get back to watching your fantasy team suck.
Fancy yourself a savvy investor? Are you starting a new hedge fund? Need a professional services firm to cater to your every whim so you can concentrate on creating the next shop to be lovingly mocked by our sister from another mister?
SOLUTION: Deloitte’s global full-service hedge fund emerging manager platform. Never heard of it? Of course not! It’s a brand-spanking new platoon in the asset management practice that is just rolling out Project KATN circa now:
“In today’s environment, emerging managers need recognized industry heavyweights for professional services. Deloitte has launched the hedge fund emerging manager platform to provide emerging managers with a solution that offers access to our global network, and customized, creative and responsive service,” said Cary Stier, vice chairman and Deloitte’s U.S. asset management services leader. “If you launch with Deloitte, you stay with Deloitte. A client cannot outgrow our services. Deloitte delivers results that matter.”
And because Deloitte already has “70 percent of U.S. hedge funds with more than $20 billion in assets under management, and 75 percent of global hedge funds with more than $20 billion in assets under management,” they figured that it was about time they started thinking about the little people-cum-hedge fund managers out there. You aren’t going to turn your tiny flagship fund into a behemoth without some help, so why not go with the firm that already schleps for most of the big boys?
So when shopping around for your indentured professional servants budding hedgies, Deloitte’s HFEMP (?) will have you know that they will be there with you every step of the way. From the time you realize your ginormous fortune (pet jungle cats, gold-plated toilets, etc.) to the spectacular implosion (incessant posts by BL, perp walk).
Back with more from the accounting career mailbag: a former Deloitte employee left the firm recently only to discover that life outside public accounting isn’t all that it’s cracked up to be. Should they return to the Greed Dot???
I am writing to you in the hopes that you can provide some insight. Here is my situation, I worked at Deloitte for about four years now in the Pacific Southwest region of the US. I recently quit and took a job at one of the big public Companies in my city. After being there for a couple of months I’ve realized that I am kind of bored and am considering going back to public accounting.
The partner I worked for at DT told me to call him anytime. Before I make that call I wanted to get some input. If I go back I’ll be a manager within a year, does the job function change that much like they are telling me? I’m single and in the long term I’m not sure what I want, for now I just want to work get some more experience and then figure it out.
Considering Going Back
Dear Considering,
Your problem is not an uncommon one. Many people have spent their entire careers bitching about life inside public accounting only once they leave, they come to the conclusion that they never had it so good. There are a couple of ways to interpret this:
1. You really do love public accounting and you truly believe it is your calling in life.
2.
Of course every situation is different and in your case, you’re looking at a promotion to manager in a year. Let’s give the partner the benefit of the doubt here and consider your question about life as a manager. Personally, we didn’t have the pleasure of reaching the rank but know plenty of friends and colleagues who did and many, many, many of them said it was their toughest year of their career to date.
What happens is that your auditing skills become less important and your time management and people skills begin to take center stage. Can you handle staffing issues? Prepare a presentation for a RFP? Convince a partner that a client really isn’t that pissed and you’re not getting fired (when, in fact, the opposite is true)? This is just a taste of your responsibilities. OH! And do you like reviewing other people’s work? Because you’ll have to squeeze that in as well.
Now that we’ve scared the living daylights out of you – it sounds like you’re more concerned with enjoying your job and getting good experience rather than money. That’s rare around these parts, so good for you.
Bottom line is this – if you’re not happy at your current job and think that career bliss awaits you back at the Green Dot with Sharon and the Costanza Twins, you should go back.
Peanut gallery – what do we think here? Back into the belly of the beast or is it a huge mistake? Fire away.
Before you go!
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