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Reddit Philosopher Asks “What’s So Great About Big 4 Anyway?”

Posted on by Adrienne Gonzalez

Actually, the question our philosopher pal posted was a bit more hostile than the question in the headline above.

It was more like this:

Who the hell told all you kids in school that Big 4 is the only employer you should ever think about? [A public service announcement.]

Every single post in this sub is dominated by big four. "Will I get in to big 4 with a 3.99 gpa? Will a W hurt my chances at big 4? I spend 12 hours a day rubber stamping bullshit at big 4 and now I hate my life, did I make a mistake going into accounting?" I'm so sick of hearing about big four, and I'm especially sick of hearing about how everyone working there is miserable.

So where in the world did all you guys get the idea that your career is a waste of time or you are an unworthy failure if you aren't working at b4? There are SO MANY opportunities in the world of accounting. There are a million public accounting firms out there that actually treat their employees well. You can work in government, nonprofit, small business, huge business, doing just about anything. Go apply to one!

/rant

How do you rile up a virtual room full of accounting enthusiasts, many of whom are just finishing out their undergrads or in their first year or two on the job? Curse the Big 4, obviously.

Clearly accounting students are aware there are options other than the Big 4, and clearly some of them even sign with regional firms, or — GASP — don't even go the public route at all. And? The good majority will still go into Big 4. Why? Because Big 4, duh.

Because they are told from the moment they take their first accounting class that Big 4 is the only way to go. If someone signs on with a small firm, the first thought the herd has is "what, you weren't good enough for Big 4?" Big 4 recruiters are crawling all over campus with their cookies and Kool-Aid and their tchotchkes like pharmceutical reps at your doctor's office.

To answer the original question, who the hell told all those kids that Big 4 is the only employer they should ever think about? Everyone.

 

 

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Deloitte Is Totally Cool with You Jumping Ship

A GC reader from Deloitte emailed me the notes from a recent meeting for management on the health of its staff levels. Our source had the following to say:

I’m a senior in D&T (making manager in the fall) and thought the minutes from a recent manager meeting were interesting in terms of HR’s take on attrition. It does match what you’ve said in your column, i.e. they plan for a certain level of attrition, but I don’t think they even want to consider that there could be a cause for concern.

Management Community Feedback

Retention: Previous S. Manager / Manager Practice meeting unity is seeking additional clarity as to where the firm is heading, in the short term and long term (i.e., economics, compensation, etc.).

HR Audit Update: As of the time of the meeting, specific numbers are not known

DWB: Staff complaints, questions, and concerns, are summed up with the phrase “community is seeking additional clarity.” People want to know what the *#&! to expect in these still-somewhat-unclear times. Oh, and HR? They can run their “numbers” in minutes. Why they were not shared is a mystery; a concerning one at that.

Senior Turnover: Managers feel concerned with the leadership leaving at the senior level – potential for additional turnover in the fall

HR Audit Update: Turnover is comparative to 2 – 3 years ago so not considered a concern.

• Recent increase in the number of seniors that are voluntarily leaving the firm when compared to those trends seen in the last 12 – 18 months
• Region is looking at approximately 75 new hires
• Restrictions on inter-office transfers are being lifted

DWB: A lot to take away from this.

1) Managers are vocalizing the fact that people are leaving; this goes beyond the typical public accounting attitude of “good riddance.”

2) Turnover in 2007 was incredible. Do you remember what the market was doing in 2007?! It was a rip-roaring success. To compare it to that time frame and say it is “not considered a concern” is troubling. The difference between then and now is D&T was hiring like gang-busters themselves at that time so the attrition was not “felt” as severely as it’s being felt now. Layoffs and frozen hiring budgets make the recent staff losses more significant.

3) More people quitting now than during the recession? What research expert included that bullet point?

4) Inter-office transfers being reintroduced is a positive point; expect an announcement about this spun in the HR-style of “woo-hoo, now you can work in St. Louis!” And by St. Louis they mean Branson, Missouri.

What to do?

• Create a positive environment for the seniors and staff
• Leverage personal experiences to keep seniors/staff motivated
• Express advantages a “manager” position can add to one’s career path when looking at long-term goals.
• HR Advisory Update: National recruiting expects a good group in the Mid-West. Comparative attrition trends are taking place even though it may feel that the turnover rate is higher than normal.

DWB: Talking about the glory days of D&T audits doesn’t sound exciting, but sometimes it’s enough of a Kool-Aid effort to keep staff motivated. And look! Attrition rates are right where they want them to be. So all of you on under-staffed, over-worked projects? Yeah, this is the type of environment they plan for.

I’ll let our anonymous tipster finish off the commentary:

At least they might try to “create a positive environment” for me. I’d be really concerned if HR actually believes this or if they just don’t want to panic the managers. (Incidentally, I will be leaving after they give me the promotion.)