More specifically, $2,878,519,000. That’s how much revenue was pulled in by RSM US in fiscal year 2021, which ended April 30. While it’s not the eye-opening double-digit revenue increase that the House of Adams had in FY 2020, it’s still solid growth of 6.4% over last year during the height of the pandemic outbreak in the U.S.
Joe had this to say in RSM’s 2021 Annual Report:
Our core values of respect, integrity, teamwork, excellence and stewardship were at the forefront of every decision we made. And every step we took was grounded in our 5 C’s of caring, curiosity, collaboration, courage and critical thinking. It is these core principles that enabled us to work together to address challenges from the COVID-19 pandemic, the pandemic-induced recession, racial and political unrest, and conclude the year even stronger than before.
First and foremost, RSM kept the health, safety and wellbeing of our people at the forefront of our decisions. When other firms were cutting compensation, we paid employee bonuses and provided promotions and salary increases. We also added multiple benefits to help our people, including mental health resources and family-friendly support. And we maintained our career development programming in a virtual environment to ensure people continued to develop technical, advisory and leadership skills.
Adams also introduced something called Vision 100—not to be confused with RSM’s Vision 2022 or EY’s Vision 2020—“which is our evolved strategy that will lead us to our 100th anniversary in 2026 and beyond. The full name is Vision 100 … Powered by Our Culture because the last year has proven that it is our unrivaled culture that makes RSM a great firm. We are truly grateful to all of our partners, principals, employees, clients, communities and other stakeholders for being part of it.” Here are some other highlights of the report, including revenue portion by service line:
RSM US FY 2020 Revenue Results: $2.7 Billion and 4 Guardrails
Hey college kids, please don’t forget that RSM laid off a large part of their workforce for Covid. I would be cautious in joining a company that does that and then pretends that it didn’t. Joe Adams statement above is a lie and I’m sure he knows it if he actually wrote it, which is doubtful. This firm will be even further irrelevant with the continued automation of accounting services. Big4 will be in a much better position. RSM has no value outside of cheapness and will not be a place that will be around in 20 years when you are hoping to be a partner or have a good name on your resume. Look elsewhere as this will be the first domino to fall for sure and you don’t want that on your record. RSM = Dinosaur. RSM on resume = career opportunity killer.
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