In case you needed another crummy datapoint to help illustrate the gender disparity at the partner level in the accounting profession, this finding from the AICPA's Women’s Initiatives Executive Committee CPA Firm Gender Survey should do the trick:
Many firms have non-equity partner tracks that don’t include ownership in the practice. The WIEC survey found women were somewhat less likely to be equity owners as firm size grew, and that men were more likely to be equity owners across the board. Male equity ownership in firms is significantly higher at all firms with more than one equity owner.
Here are numbers:
The report doesn't go into the gap between equity and non-equity partners, but it does attempt to explain the overall gender difference:
While the AICPA surveys and statistics have not investigated career trajectories or choices, they note that women make up 26% of sole practitioners and 43% of partners at firms with 2–10 professionals. That may indicate that women who don’t advance in larger firms may be deciding to set up their own shops or may be moving to smaller firms as an alternative.
Wouldn't it be nice if AICPA surveys did investigate career trajectories and choices? That could finally shed some light on leave larger firms for small ones or to start their own firms. Until we get better information, we'll continue speculating, which you're welcome to do now.
2010. What a year, amiright? It got off to a bit of a rough start after our facelift but as the year went on, things stayed interesting…most of the time. Anyway, since most of you aren’t getting Jack Squat done this week, let’s take a look back at the year that was.
1. Compensation – Shocking revelation here, we realize but – YES! – it’s true, red about most in 2010. After two years of disappointment, the Big 4 and the aspiring “Bigs” (Grant Thornton, BDO, McGladrey) all returned to merit increases and bonuses this year. PwC shot out of the gate with Ernst & Young keeping pace while KPMG remained steady but slightly behind. Deloitte, lagging behind, made a late charge with the announcement of a mid-year adjustment, which may or may not have set off a rash spreading amongst the other firms to provide bonuses throughout their fiscal year-ends. Was it a successful 2010 on the compensation front? Some say “yes,” some say “no,” but there’s little doubt about what keeps your attention.
2. PwC Email Hottiegate – Unless you were in a coma during the second week of November, you were aware of the email that listed the top 10, errr 13, new female associates that came out of PwC in Ireland. The gents who passed around the list weren’t so concerned with using work email to give the ladies the Letterman treatment and the Irish brass didn’t take too kindly to the “tradition.” This story dominated our pages for a few days and the last we knew, a total of five employees had been suspended, the women weren’t planning on lawsuits and Adrienne gave her point of view (as a member of the fairer sex).
5. Large firm vs. Small firm – An anonymous reader submitted an essay on the main differences between life in the Big 4 (and aspiring Bigs) life and that of the lives working in the smaller firms. Most have wondered what life would be like in their bizarro public accounting existence and some have actually lived it. There are pros and cons to each but life at the small firm is decidedly different.
6. An auditor’s life:
7. Layoffs – 2010 saw fewer mass layoffs than the past couple of years but that doesn’t mean there weren’t spots of cuts here and there. Most notably were the nationwide cuts at McGladrey as well as the 500 cuts made by PwC in Florida. Grant Thornton was busy slimming down its exposure in smaller markets but layoffs were not always part of the “transition” as practices were often sold or employees were giving the opportunity to transfer. And last but not least, we learned that Deloitte claimed “our bad” on their cuts from May 2009.
9. PwC Houston Happy Hour – The team happy hour. Typically a festive event filled with free booze, laughs and the occasional awkward advance. The latter allegedly took form of a partner towards an associate this past summer in PwC’s Houston office that resulted in a odd pick-up line, a sloppy kiss (our vision) and then a knuckle sand. The latest we heard was there were multiple associates approached, the partner-in-question was still with the firm and that the associate(s) involved were shipped off to other engagements. So all is well in H-town. PwC never returned our calls, emails or singing telegrams on this story.
10. Accounting Career Drama – One of the most popular series on GC is the career advice that we throw out here and there. Everything from trying to quit nicely during busy season to defection amongst Big 4 firms to explaining why your fantasy football roster is constantly on your computer screen. We’re here to help you get through the purgatory that is your time on Earth so if you’ve got a problem and want advice, email us at advice@goingconcern.com.
If we missed any of your favorites, feel free to recall your fondest memories on this here site. As we head into the new year, here’s a friendly reminder of how to get in touch with us:
Contrary to what some might claim, we actually enjoy helping when we can, especially if it means money not out of our own pockets for future capital market servants. Therefore, we’re asking you to take two seconds out of your day to help the NJSCPA win a contest.
From NJSCPA Director of Communications Don Meyer:
In our never-ending effort to convince the world that CPAs aren’t dull, and hopefully to win $10,000, the NJSCPA entered a photo in the “Great Event Photo Contest” on Facebook – http://bit.ly/rkJPdE.
If our photo (a Society member salsa dancing at the 2011 NJSCPA Convention & Expo in Atlantic City) gets enough votes we could win $10,000 for the NJSCPA Scholarship Fund, which provides scholarships to high school and college students.
We’ll be encouraging (or nagging if you prefer) our members to vote for us by promoting the contest on Facebook, Twitter, NJSCPA Connect (www.njscpa.org/Connect), through email and by whatever other means we can think of.
We’re up against some big competition so we’re looking for whatever exposure we can get (hint, hint). Thanks.
Who says CPAs are dull?
You have until August 22nd to vote and can vote once a day using your Facebook profile.
Easton, Massachusetts resident Michael Freese recently discovered that the town’s meal tax cost him an extra 4¢ on his $5.75 hamburger, reports the Enterprise News. Freese was under the impression that only “New York and Seattle and California had that.”
While Freese is probably aware that this extra 4¢ would get him 80% closer to a Hershey Bar when he was growing up, he can also take comfort that in this day and age it will get IRS Agents off your back. [Enterprise News]