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Promotion Watch ’11: Ernst & Young Admits 548 New Partners Worldwide

Posted on by Caleb Newquist

Still a little perplexed that I have to find this out via press release but I understand that at least some of you are beating off clients…

with a stick.

Jim Turley, Chairman and CEO of Ernst & Young says, “Building the next generation of partners to lead our business is vital to our future. This year’s marked increase in numbers reflects our ongoing commitment to excellence and our confidence in the future.”

John Ferraro, Chief Operating Officer of Ernst & Young says, “These admissions are the result of a rigorous selection process and recognizes the significant contribution of each individual to our success. This is a strong vote of confidence in the leadership potential of these outstanding individuals.”

Congrats to the all the new partners at E&Y!

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Ernst & Young Advisory Intern Wants to Get an Idea of What the Overtime Gravy Train Will Be Like

From the mailbag:

I will be a full time Advisory intern at Ernst and Young in Manhattan this coming summer. The duration of the internship is 7 weeks starting mid June. We just received a raise in our salary which has me thinking about compensation.

As you know, interns receive overtime which can contribute significant weight to overall pay. After researching the internet and the GC archives, I have not been able to find a clear answer regarding what I can expect for overtime hours. I know this varies by firm, workload, work groups etc but can you estimate an average of overtime hours per week? If any?

Right you are, grasshopper – it will depend on various factors you mentioned as well the clients you are assigned to, and what kind of expectations your superiors have (maybe that’s what you mean by work groups?). ANYWAY. In all likelihood, you’ll see some overtime hours which will probably result in some nice paychecks this summer but don’t be surprised if managers are staying on top of the hours you’re working. The Big 4 and other accounting firms aren’t quite as loose with the wallet as they used to be so I’d guess your hours will top out somewhere in the 50s on a weekly basis. That puts you in the range of 10 to 15 hours of OT a week (20+ only for those who work for lunatics). If your senior isn’t a headcase then you can expect 40-50 hours a week.

If you fancy yourself a intern hour handicapper, throw some numbers out there. And, interns, when things get rolling, get back to us with your numbers.