Tag: Career Advice

Come for the career advice, stay for the tangentially relevant anecdotes.

How to Reject an Accounting Firm’s Offer

Welcome to the de minimis edition of Accounting Career Emergencies. In today’s edition, a young accountant wants to know how to reject a firm in the most professional way possible. Is it best to give them the Band-aid™ treatment or can you simply not call and hope they get the hint?

Are you surrounded by idiots? Worried your firm is morphing into something undesirable? Thinking of giving it all up for a shot a culinary immortality? Email us at advice@goingconcern.com and we’ll help you become the next Ray Kroc.

Returning to the rejector:

Dear GC,

I have two FT offers from mid-size firms. I know which offer I want to accept but my question is what is the best/most professional way to “reject” the other firm? Is it better to call or email them and how should I word it?

These two firms are competitors and they both know I have interned with the other. My second question is should I try to leverage the firm I want to accept from and negotiate a higher starting salary? I’m not sure I even want to bother if there is a possibility of “burning any bridges” with either firm if I’d only get an extra grand or two. I just graduated and this is my first time in this situation. Any advice from you or the GC community would be greatly appreciated.

Thanks,

Newbie

Dear Newbie,

Here’s the thing – rejecting a firm isn’t like rejecting a human being. They don’t have feelings so don’t be afraid to be honest. Sure the person you speak to may sound disappointed but trust me when I say that they’ve heard it all before. That said, sending them an email with an image of your photocopied ass attached is not advisable. Your message can be communicated by either phone call or email and can give as little or as much detail as you like. You can keep it vague, “I’ve decided to accept another offer,” decline any pressing by your rejectee or you can go into detail, “I chose Firm A because [insert reason],” as long as you don’t feel like this is your opportunity to share thoughts on everything that is wrong with their firm. The person listening to you will appreciate your honesty and you can feel good that you’ve kept a professional decorum throughout the process.

What you don’t do, is this:

I recently learned [a recruit] cancelled his second round interview with us- said he broke his ankle and went to the ER- but was seen out partying that same night by one of our former interns.

This was sent to Adrienne by an HR professional at a firm regarding a potential recruit. Granted, this person may not have gotten an offer to begin with but considering the tact involved with this rejection, the firm is better without this loser.

As for trying to use one firm against the other to leverage a higher salary, this is hardly the time in your career to play hardball over your salary.

Bottom line is that you can reject a firm in a direct. professional manner and who knows, the contact may serve you in the future when/if your current situation doesn’t pan out. Or you can be ‘fraidy cat and tell them your mother is sick and you’re re-examining your life choices. That will your professionalism somewhere in between toddler and pre-pubescence. Choose wisely.

Can a Tax Senior from a Local Firm Make the Jump to Big 4?

Welcome to the I-still-don’t-know-who-Casey-Anthony-is edition of Accounting Career Emergencies. In today’s edition, a tax senior was just laid off from his local firm because of a “lack of work.” Can he jump to a regional or a Big 4 firm without any trouble?

Is your latest raise an insult? Need some rumors debunked? Thinking of giving it all up for your dream of creating the world’s best burrito? Email us at advice@goingconcern.com and we’ll give you the best average advice you’ve ever gotten.

Back to ranks of the funemployed:

Dear Going Concern,

I’m a tax senior and was just laid off from a local accounting firm with about 50 employees due to a “lack of work.” The firm has been losing clients and a lot of the staff has been sitting around lately with nothing to do.

How difficult would it be to move from a small, local firm to a larger, regional one or the Big 4? Thoughts?

Sincerely,

A Loyal Reader

Dear Loyal Reader,

Sorry to hear that you got the axe. That’s never a good feeling. If lots of other staff are sitting around twiddling, they’ll probably be joining you before you know it. But forget about them; you’re thinking about your options which is good, so let’s try and sort this out.

You’re a senior associate, so that’s a plus. Most firms, regardless of size, are hurting for seniors so that puts you in a good spot. You’re also in tax which requires a more specialized knowledge base than audit, so that’s a benefit too. Depending on what kind of clients you have served (I’m guessing individuals and small businesses), your best bet is start with the regional firms in your area. Odds are your experience will match up better with a regional firm, so they’re more likely to take an interest in you.

As for making the jump Big 4, this is a little trickier. I’m not saying it can’t be done, as I made the jump myself but it’s really dependent on your experience. If you’ve mostly prepared run-of-the-mill 1040s, chances are they won’t give you much of a look. On the other hand, if you have a lot of work in a specialized area (e.g. transfer pricing or M&A) on your résumé that will catch their eye.

Bottom line is that if you can find a firm that offers services and has clients that match up your experience, you’ll be a good fit. Good luck.

Hypothetical: Is Passing on a Promotion to Manager Because It Requires Relocation a Career Limiting Move?

Ed. Note: Have a question for the Going Concern career advice brain trust? Email us at advice@goingconcern.com.

Dear GC,

I’ve been a reader of GC for a while. Thank you for the great advice you posted throughout the years!

Hypothetical situation: I’m a tax senior in a big public accounting firm. I’m doing well but I wasn’t promoted to manager this year because promotion requires that I relocate to another region and my family can’t move. In this situation, what can I do to help advance my career? Should I patiently toil for another few years until a spot opens up in my region? It seems like jumping into industry without a “manager” title will set me back significantly. Going to a competitor to get promoted also seems unlikely because I haven’t proven myself to the new employer. Would I literally be sacrificing my career for family in this case?

I am a young woman starting her career in tax in a public accounting firm. I saw others going through situation and I see myself running into this situation in a few years. Just want to ask this question so I know what to expect ahead of time.

Thanks for your advice!

Dear Hypothetical Tax Senior,

At the end of the day, this is a personal issue for you and your family to sort through. However, I hope the following points (and the GC community) can help you in your decision.

Things to consider:

1. Your professional network. How closely do you work with employees in this hypothetical office? Will you be able to move there before being promoted? Chances are, your network there is limited, so you will have to connect with and establish your credibility with an entire new office. Combine this with balancing the new responsibilities of being a manager and helping your family adjust to a new home, and you could be facing a steep learning curve, both professionally and personally.

2. Seek advice. Talk to your mentors about this. Is this a regular issue in your office? Have others before you made been in a similar situation, and if so, what did they decide to do? Is this a one year issue or is the possibility of being promoted to manager a distant possibility?

3. Look around you. Not in the job market sense but in the “how top heavy is my practice?” sense. Are managers currently doing the work of staff members because there is not enough to go around at the top? Is HR hiring into your group or have things been stagnant for awhile? Has your office lost a deal of client work to competition?

4. Look around again. Now I mean in the job market. All things considered, you need to do what’s best for your family. In that, you should be weighing ALL options. Jumping ship without the manager title is not necessarily a Scarlett Letter; it is something that can be explained in an interview at the very least.

Aspiring KPMG Manager Needs Help Defecting to Another Big 4 Firm

Welcome to another round of Accounting Career Emergencies (aka: “Decide My Life For Me: GC Edition”). Today we have a KPMG Senior Associate who badly wants to make manager except for the small matter of not being able to stand her client, manager, partner and basically everything else. Jumping over to another Big 4 firm is an option but how does one convince them that you’re worthy of the new stomping grounds.

Looking for an extra edge? Concerned that your performance isn’t up to snuff and need a contingency plan? Working in an environment that makes you uncomfortable? Email us at advice@goingconcern.com and we’ll try to explain how poles and porn fit into “team building.”

Back to our Benedict Arnold du jour:

Hello dear friends at GC,

I am beginning my fourth year with audit at KPMG and would like to make it to Manager, if for no other reason than the title’s weight on the résumé. If I were to stay with KPMG and made manager in the average time frame, I would be here for another two years. To be frank, I can’t stand my client, manager, or partner and want nothing more than to quit tomorrow; I’ve already spoken to my PML (direct supervisor, basically), but there really isn’t an option for me to get out of working on this client and or this team any time soon.

My job is ok when I’m working on other clients, but this engagement is so terrible that I’m not sure I’m willing to stick it out long enough to get to my other clients. Like so many others, my primary goal is to make it to Manager at a Big 4 (have no idea if I will stay after I do, but that’s the goal at this point). There are needs for audit seniors at the other Big 4 firms in the city, and I’m thinking about jumping ship to another one. If I do this, I figure I’ll at least get a fresh start and shake things up a bit, while still working towards my Big 4 Manager goal.

So here’s the question: how do I convince another Big 4 firm to hire me? Also, if I were to get hired by the like of DT, E&Y, or PWC, could I feasibly expect to make Manager within two years? I have my CPA out of the way, so that shouldn’t be a big factor…

Help me, Going Concern. You’re my only hope.

-Big4FlipFlops

Dear Big 4 Flip Flops,

Your problem is easy, ring up PwC. They picking off KPMG people like a WWII sniper. But seriously, I’m a little perplexed by your question. When you go into an interview with any potential employer, how do you convince them to hire you? You research the company. You smile big and are ready to talk about things other than work. You discuss your accomplishments at KPMG, you play up your strengths, admit that you’re working on your weaknesses but ultimately, that you’re bringing A-1 talent to this organization and they’d DAMN FOOLS to pass up the opportunity to hire you. There will probably be a curveball question or two in the interview and those may help/hurt your chances but it’ll be a pretty standard interview.

As for your promotion timeline, I think you can safely ask your potential new firm about that without fearing any repercussions. If you adjust to the new firm quickly (e.g. new methodologies, navigating political waters) and are a performer there’s no reason you shouldn’t be considered for a promotion in another two years. Good luck and may the Force be with you.

Big 4 Aspirant Wants Help Choosing a City

Welcome to the way-to-double-bogey-18-Phil edition of Accounting Career Emergencies. In today’s edition, a prospective Big 4 associate wants help deciding between a large or mid-market city. Let’s see what we can do to get her out of the sticks.

Have a spotty past that may hurt your career aspirations? Need help spending some tools? Email us at advice@goingconcern.com and we’ll point you to some sharper folks.

Meanwhile, back on the farm:

Hello,

I am preparing for recruiting season this Fall, and I attend a heavily-recruited university on the east coast. Recruiters from the Big 4 (as well as other firms) recruit nationally from my school, so I pretty much have my pick of what city I would like to work, if I were to get hired by one of them. I know that they ask us for our preference in location, and that is my current dilemma – I am not sure yet which one to pick.

I know for sure that I want to leave my current city, as it is mostly a college town. I have family in both Miami and Phoenix, so I am considering those options, but those are middle markets. My dream has always been to live in a big city, so I am considering NYC and possibly Chicago. Obviously there are big differences in size, both in terms of number of employees and clients. However, I have no family in any large city, so I would have to live on my own or find a roommate. But wouldn’t working in a bigger city provide me with a greater advantage, career-wise? There are a lot more possible clients and industries to pick from when you work out of a large city. I would really like to know the advantages and disadvantages of working in a middle-sized office versus a really large one (Big 4 firm specifically). I would truly appreciate any feedback that you may have on this matter – maybe even post it as a blog on the website so that the readers can share their insight.

Dear Big City Dreamer,

Live on your own?! Roommate?! Is it possible that you’re becoming an adult? That may have a – gasp – job in the very near future? This can all be very scary, I realize so I’ll stop with the jokes…for now. Lucky for you, I’ve lived and worked in both a mid-sized and a large city, so I’ll share my personal experience and then we’ll throw it to the group.

When choosing where to live it’s important to know what you want to get out of that city. You’re going to be living there after all and believe it or not, you will have free time occasionally to do some things other than work. You say that living in a big city is your “dream” so I’d encourage you to go for a big market so you can enjoy everything that they offer. I lived and worked in New York for about two years and while the hours were long, I still had the great opportunity to experience everything the City has to offer. Plus, I made a lot of cool friends in a part of the country where I didn’t previously know anyone. Professionally speaking, it’s true that you’ll be exposed to a wider variety of clients and a bigger network of people. All good things for someone who’s looking for options.

The main disadvantage to a larger office is that it’s easy to get lost in the shuffle. If you’re not hell-bent on being Ms. PwC, just want to do your job and go enjoy your life outside of work, sometimes that can work against you. It’ll be important for you to foster good relationships with people that will go to bat for you when it comes to performance reviews and staffing you on clients. If you’re always billing and you’ve got a good relationship with your superiors, you should be fine. If you find yourself floating around, you may end up being a name no one recognizes and that makes you expendable.

A mid-sized office, on the other hand, is a little more familial. You’ll get to know everyone, including the support staff who can be lifesavers when you inevitably find yourself in some kind of jam where they can help. Mid-sized cities can be fun because they have a different feel from the big city. Denver, for example, has a great music scene and amazing weather so you spend a lot of time outdoors. No, you don’t have the Met or a grip of five-star restaurants but you make the most of wherever you go.

The main problem with a smaller city is that because it can feel familial, there’s always familial problems. It can feel a little bit like high school at times and most people will know your business one way or another. If there’s a beef amongst team members or someone else, EVERYONE WILL KNOW ABOUT IT. Also, because line-of-business groups are smaller, it can make the promotion process and the internal politics a little trickier. There are fewer clients to chase and so the higher up you go, the fewer manager and partner spots are available. As a staff you won’t really be affected by this but if you want to stay with your firm for awhile, it may become an issue later.

Ultimately, go with your instincts. If you want to live in New York, Chicago, Los Angeles, you should go for it. You’re young and eager, so you may as well use that high energy on those high-energy places now. Good luck.

How to Request Recommendations on LinkedIn Without Giving the Impression That You’re Jumping Ship

Ed. note: Got a question for the career advice brain trust? Email us at advice@goingconcern.com.

Good afternoon, GCers. No time for small talk. Let’s get to it.

Hi Caleb,

With regards to LinkedIn, do you have any advice on how to request recommendations from superiors, other coworkers, and clients, without giving the impression to my own superiors that I want out? For some background, I am a Senior 3 in EY’s TAS group and have been here since I graduated college.

I like what I do and I work hard to get the job done right, but the double-edged sword of being a “high performer” is that you are continuously staffed on the complex engagements withhat are constantly go-go-go. Needless to say, my social life has become essentially non-existent during the week. I am not actively looking to move to another company given I am up for promotion to Manager this year, but I am starting to think that it would be beneficial from an upward mobility standpoint to make a move elsewhere, and I think getting recommendations on LinkedIn would be a solid start.

Thank you,
J.

J.

Great question. Now, there is no fool-proof way to prevent against raising suspicions, however, you can ask certain colleagues in such a way that will both minimize suspicions and even gain a bit of their respect.

No one knows how LinkedIn will evolve in the coming years. It quickly went from a “why are you on LinkedIn?” website to the year’s biggest tech IPO (for better or worse, but that’s a different story altogether). There’s no denying that recruiters – both headhunters and in-house specialists – use the website as a search tool, so I can understand your desire to beef up your profile. My suggestion is to have recommendations from a peer, a superior, and depending on the relationship, a client. My suggestions for targeting potential rec’s:

1. Superior – The trick here is to pick a superior that is active on LinkedIn. I bet if you searched LinkedIn for the leaders of your group that you’ve worked with, their profiles will fall into one of two categories: a) active or b) dormant. The dormant LinkedIn profile might not show the recent promotion, give little to no description about their practice line or specialties, and they’ll be lucky to have more than 25 connections. The active user (and the person you want to target for a recommendation) will have a very active profile: details about industry knowledge, present title within the firm, probably 100+ connections, and – if you’re lucky – a few recommendations from peers. This is your target.

How to target? Simple. Be honest and straightforward with them in the sense that you are taking your public image within the firm very seriously. You can also mention that LinkedIn is a professional website and you’re hoping to have your hard work properly recognized amongst profiles online; after all, it is a very competitive market within your practice. You can also offer to leave a respectful recommendation on their profile from the perspective of a direct report.

There are two reasons you want to target an active LinkedIn user. First, they know how to use the site, unlike the partner with seven connections who probably doesn’t remember his/her login password. Also, an active user understands the value in having a complete profile. They will likely respect you for taking your public image (and the image of the firm) seriously.

2. Peer – did you and a coworker spear-head a project, push through challenges, and deliver an exceptional product to your clients? There’s nothing wrong with recommending each other’s work. It will demonstrate that you are a team player and work well with those on your level.

3. Client – if you are close with one of your clients, this is a no brainer. Have him/her slap a few nice words on your profile regarding a project or engagement. This will look great on your profile – to both recruiters and your superiors.

The safe, fall back reasoning for pursuing all of these recommendations is that you are hoping to polish up your profile and public image as it is seen within your firm and by your clients. If a recruiter happens to be impressed, so be it. Added bonus.

Has anyone else reached out to one of the groups above? What are your experiences? Share in the comments.

Engineering Consultant Lands a Big 4 Gig, Now What?

Ed. note: Have a question for the career advice brain trust? Email us at advice@goingconcern.com.

Going Concern received not one but two emails from a contributor in recent weeks. Aptly named Enginerd, P.E., this fine gentleman had hopes of joying a Big 4 firm with Enginerd’s background is as follows:

I come from a technical background, 8-10yrs of consulting in engineering and regulatory roles, and am being courted by a B4 to join up with a technically minded advisory/consulting group. You may not know, but engineers are a forgotten bunch earning far less than many of our other professionally degreed brothers. I’m anticipating a very healthy offer, but I don’t have much to base it on; Bologna is better than SPAM, but that isn’t saying much.

For the doubters out there – yes, the Big 4 occasionally hires engineering experts in niche markets when expanding their advisory practices. These experts may work with Transaction Services teams in markets heavy with M&A activity (think technology, energy, environment, etc.). Even at that, they don’t hire C.A.D. experts but rather individuals with previous consulting experience, like Enginerd.

Admittedly, Enginerd’s original email sat unanswered in the advice box [Ed. note: you should see the backlog!]. He recently followed up with positive news:

No response from y’all, but I did get a response from B4. They made me an offer I couldn’t refuse.

So the last questions still hold, Any thoughts on breaking into B4 consulting (done), not getting lost when you get there, and behaviors which will help make my stay a long and profitable one? I’m listed at about 85% billable, which isn’t bad, but is still a lot of hours. Short of rereading How to Win Friends and Influence Others, what is my Modus operandi?

Thanks,

Enginerd, P.E.

Dear Enginerd,

Unfortunately, I don’t have a lot of direct advice for you as I do not work regularly with employees in your position. That said, I suggest continuing to do what made you successful up to this point:

1. Network every day of your early career. Meet with the group leaders not only in your office, but in other offices as well (as it applies). Have a regional/national meeting coming up? Make plans to connect with your peers in other offices. Connecting faces with email addresses is extremely important as your responsibilities inevitably expand.

2. Find a mentor. Chances are you are not the only person in your group/office that has a background similar to your own. Feel the group out over the first few months, evaluating who you feel stands above the rest. Find someone with a background similar to yours (and senior to you in ranking) that has a strong future with the firm, and build a professional relationship with them. You shouldn’t hesitate in asking him/her to be a mentor for you. Generally speaking, people are flattered by such a request and can become excellent resources for you down the road.

3. Read advice from the Going Concern peanut gallery. I’m sure there are people with similar backgrounds to yours that are regular readers here on the site. With that said, I open it up to the group – what advice do you have for Enginerd as he joins the Big 4 consulting circus?

How Should a Big 4 Auditor Handle a Manager Blocking a Transfer to Transaction Services?

Welcome to the at-least-you’re-not-John-Edwards edition of Accounting Career Emergencies. In today’s edition, a first-year auditor has an opportunity to do a rotation with Transaction Services but feels that his senior manager has taken an aggressive cock-block position. Will our hero have to get their performance manager involved or resort to thinly-veiled threats?

Looking for new endeavors? Are the men in your office giving you a hard time? Is your job making you ill? Email us at advice@goingconcern.com and we’ll give you a remedy for your troubles.

Meanwhile:

Caleb,

I am a long time GC reader, and I usually only read the career advice postings to feel slightly better about my own situation. Now, however, I find myself with a question that I would love to put before the GC readership. I am a first year at a B4. I enjoy my job, but am always interested in a new opportunity. Recently, I was offered a rotation in transaction services that will last a few months. I accepted the opportunity, but the timing of the rotation was not set in stone. I just found out that a sr. mgr. on my biggest client is trying to keep me staffed on that engagement at the expense of the opportunity of taking the rotation.

I have made my interest in taking a TS rotation since day one, and my performance manager supports it 100%. He knows that I was offered the rotation, but not that the sr mgr is standing in the way. I would like to know how to proceed. Should I go over the sr mgr? Should I forget the rotation? I enjoy my audit clients and don’t want to be seen as someone who will leave as soon as a better opportunity comes along, but this is a particular interest of mine that I made know upfront.

Please help!

Dear Cock-blocked Auditor,

Sounds like your senior manager has a non-sexual, professional crush on you. That can be a good thing but in your case, it’s a very bad thing. Your senior manager probably wants the best team possible and it sounds like that would involve you but you’ve got your own ambitions and those need to be respected. This especially true because TS has already offer has been extended to you. It’s not for someone else (senior manager or not) to stick their beak in your business and prevent you from following the career path you choose.

Having said all that, I suggest that you first talk to the senior manager on your audit engagement. You say that they are blocking the rotation but how do you know? Nothing in your email indicates that (s)he walked straight up to you, pointed a finger in your chest and said, “You’re mine, bitch!” It’s entirely possible that the SM kept you on to prevent you from getting picked up by anyone else. This will allow you to get the story straight before running off to your performance manager. If your suspicions are true (or you did experience a finger pointing incident), then it’s time to get your PM involved. If he is “100%” behind this opportunity like you say, then this should get resolved rather quickly. Transaction Services obviously wants you to work with them and it’s something you’re interested in doing. That isn’t complicated but these things do take time and that may be the hold-up.

So be patient but be direct. Until your rotation’s timing is finalized, there’s no need to get anxious but confirm the motivation behind the scheduling before you have to pull out the big guns. Good luck.

Should a Big 4 Associate Leave the Cush Life in Bermuda for an Opportunity in a New City?

Ed. note: Have a question for the career advice brain trust? Email us at advice@goingconcern.com

Dear Caleb,

I really need some advice with a career decision I have to make. I currently work for one of the Big 4 offices at the staff level in Bermuda and have been offered the opportunity to move to a bigger office in a major city in America. While I am excited at the opportunity to move to a new city and experience everything there is to do there, I am hesitant about the increased workload that would entail. Here in Bermuda we work about 60 hr weeks for two months during busy season and then work around 40 hr weeks for the rest if the year. In addition, because of the no income tax in Bermuda, this new job would actually mean a pay cut. So is the prospect of a new city and new experiences worth being overworked and underpaid?

– Undecided

Dear Undecided,

Ahh, Bermuda – beautiful place.

Your situation is not unique by any means. I have spoken with a number of people within Big 4 audit groups that are stationed in Bermuda and are being “encouraged” to return to the States via internal transfers. This has been due mainly to the loss of offshore work on the asset management industry. Seeing how the firms are all on hiring sprees, it’s not surprising that leadership is looking to capitalize on your generous work/life balance for the sake of the Greater Good.

The main difference that I sense in your case is that you refer to the transfer to “a new city” and not “home.” Either you are originally from one area in the US and were offered a transfer to a new city, or you are native to Bermuda and this would in fact move you away from your established roots. If it’s the former, consider asking to move to closer to “home”? Would you even want that? If you’re from Bermuda, then you have more to details to weigh.

You also raise two red flags that damn near every commenter on this site will tell you ARE major concerns: more hours for less money. If we polled the audience for their responses to your question of “is the prospect of a new city and new experiences worth being overworked and underpaid” – the response would be a resounding “no.” After all, you’re listing the two main reasons people leave public accounting. But you’re still young in your career. Think about your long term plans – where do you want to be in 5, 10, 20 years? Not firm-wise, but geographically. What is the long term career potential if you stay in Bermuda? Do you want a career in public? What city does your firm want to ship you to?

Let’s open it up to the Peanut Gallery: has anyone been in this situation before?

PS – If you do transfer to the States, please sneak me a bottle of cologne from your local perfumery. Amazing stuff!

(UPDATE) Future Big 4 Advisory Associate Wants to Negotiate a Better Salary

Ed. note: Got a question for the career advice brain trust? Email us at advice@goingconcern.com.

Caleb –

“Long-time/first-time, love the show.” I was hoping you and the gang could help; I have received an offer from Big 4 Advisory as a Senior, and considering the current market, and that firms are expanding advisory quickly and trying to capture market share and increase revenues, I am wondering if I would be able to negotiate my salary north. I did not receive a signing bonus, but I know the Big 4 can be touchy about your salary, so maybe I should look into getting a signing bonus? I wanted to get your expert panel’s opinion, as well as your millions of readers. Thanks for your help.

Signed –
Sleeping well in San Diego

San Diego Napper,

Welcome to the show. It’s great to see that Caleb is getting more advisory professionals reaching out. We’re all one underpaid, overworked professional services family so keep the emails coming.

Regarding your question, the timing is probably too late for you to maximize your bargaining power, both with your firm and in the greater job market. Being that you’re a senior (now a newly minted graduate) the window of opportunity has probably passed. You most likely received your fulltime offer either after completing a summer internship in 2010 or during the fall semester of your senior year. Then would have been the ideal time to “shop around” to the other Big 4 to see if you could earn yourself a competing offer. By this point in time, both the Big 4 and the major players in the consulting market have met their entry level hiring needs.

Similarly, without a competing offer in your back pocket, asking for a sign-on bonus now is the equivalent of looking for a free hand out. From browsing this website you know that’s generally not the way things work. Not to mention the fact that your firm wants its new hire class starting at the same monetary level; should you receive a sign-on, they’d be inclined to throw something to everyone. Why? Because all it takes is a team happy hour and you drunkenly blurting out, “I called up HR, spoke my mind and landed five grand, suck on that,” to stir up all kinds of angst within your practice.

Unless new hires are reneging on their acceptances and jumping ship for much lucrative (and last minute) offers, they will not be shelling out additional cash prior to your start date. The best thing you can do is work your tail off during your first year, positioning yourself well for the first year-end reviews in order to scoop up the heftier of the raises.

UPDATE: Blame the sun.
Apologies for missing the mark on this one, ladies and gents. As I sat in my corner office parents’ basement enjoying a nice Cuban Phillies Blunt cigar, I debated which way to take this piece. Let’s look at the experienced hire route – like many of you have commented, there is definitely wiggle room for SWiSD to negotiate.

There are number of intangibles in play here: where SWiSD is now; what practice line they are in; if the firm they are moving to is an “upgrade” in market position for their practice line. Generally speaking, SWiSD should be receiving a bump in base from their current salary; a conservative estimate would be 4% – 10%. When negotiating for more $$$, SWiSD would be better off asking for a sign-on bonus. HR would prefer to position compensation as a one-time lump rather than have a new hire be significantly above their established staff in salary.

Great feedback everyone. Has anyone recently made the jump from one Big 4’s Advisory line to another firm’s? Tell us below.

How Should an Associate Handle the ‘Sink or Swim’ Nature of His Small Firm?

Welcome to the can-we-trade-twisters-for-raptures? edition of Accounting Career Emergencies. In today’s edition, a small firm associate works in a sink or swim environment and he feels like sandbags are tied to his feet. Is there anything he can do to sink less?

Have a career question? Need some help outfoxing your competition? Is a client giving you trouble? Email us at advice@goingconcern.com and we’ll breakator skills.

Back to accountant who needs a life preserver:

Howdy!

How do I deal with not having much support at my office? I just started around 4 months ago as a staff accountant and anytime I have a question, my boss tells me to figure it out, to bring him the financials so he “can do (my) job for (me)” or to just move on to the next audit.

There are seven full time employees here and my boss and I are the only ones working through audits. I really want to learn the entire process of performing audits, but I can’t get anyone to help me. I’ve asked around, Googled and even asked him to guide me through the process. There has not been any training as to their methodology for auditing. Is this typical for very small local firms? I’ve heard the first year is the hardest and you dont really know anything. I feel like I’m trying to drink out of a firehose! Help!

– Doing My Best

Dear Doing My Best,

To quote a Scotsman from some terrible over-budgeted spoon-fed cinema: losers whine about their best and winners go home and fuck the prom queen. Since you work at an accounting firm (where no one really wins) and haven’t been in sniffing distance of a prom dress in ages, that advice doesn’t really do you much good. Lucky for you, I’m familiar with your plight.

Small firms are enormously diverse and you’re at an extremely small firm. I started my career in a similar situation, at firm with less than 20 people. In that scenario, it was difficult to get anyone to explain anything to me, “methodology” wasn’t really thrown around much (literally or figuratively) and training was virtually non-existent. So to answer your question: your experience is common at a small firm and the first year is extremely tough.

Now, as for what you can do about it – my advice would be to really think about your questions before you ask them. If you’re running to your “boss” every five minutes with a question, it’s not surprising that they might lose patience with you. Really try to work through problems until you’re absolutely stuck on something. Small firms are fond of “look at last year’s file” as standard operating procedure and you should do just that. Most of these clients won’t have much for changes and their business shouldn’t be complicated, so using last year’s files as reference will be helpful.

If you find yourself having done as much work as possible and are at a dead end, then go to your boss and explain exactly what you’ve tried to do and why you’re stuck in neutral. If you explain to them all the roads you’ve tried to take, then they might be more willing to point you in the right direction. If he/she is still unwilling to help, then you might consider calling them out for it or request to work on something other than audits. If you don’t feel like you’re learning anything because no one has taken the time to teach you anything, that reflects poorly on them not you. If they act like they’re above giving you any guidance, then it’s pretty clear that they suck at their job.

If you manage to make some headway, you’ll start to notice that things eventually begin to make sense and year two (granted you survive) will be much easier than the first. Good luck.

Should a Content Big 4 Associate Jump Ship for a Controller Role?

Welcome to the Rapture fire sale edition of Accounting Career Emergencies. In today’s edition, a perfectly happy Big 4 associate has the opportunity to land a controller position with a small company. Should he leave the friendly confines of Big 4 and take a pay cut for the growth potential?

Looking for semi-sound career advice? Need to deflect some blame? Dealing with crazies in your office? Email us at advice@goingconcern.com and we’ll make sure you’re ready for whatever might (but 100% sure won’t) happen.

Meanwhile, back to opportunity knocking:

I’m in a great spot with a Big 4 firm on a large client in a growing market. I’ve “exceeded expectations” on all my performance reviews the last two years and am up for promotion in July to Sr. Associate. Pay is good, I’m not actively searching to leave, but I don’t feel I’m on the partner track (I’d like to see my family and raise children while staying involved in their lives). At some point I’d love to have my own business – CPA firm or other small business partner.

That said, I’ve also been offered a job with a former small business employer which I interned and worked at for 2 years. They’d like me to come back in a Controller role, with ongoing career development in the position. The position also comes with a potential grooming track to CFO.

What are the pluses and minuses of leaving now for the opportunity? There is a salary sacrifice and I have job security where I’m at with my firm. There’s great growth potential at the small firm and it allows for a great (proverbial) work/life balance.

Thoughts?

Sincerely,
Tough Spot

Dear Tough Spot,

You wanna tough spot? Try finding a couch on the Upper East Side when you’re accused of rape. You’ve simply got simply have to make a choice about where you want your career to go. And in your case, the decision is easy: take the controller gig.

Here’s the thing – opportunities like this don’t come around every day. You have the good fortune to already be familiar with the company that is making you the offer. If you had little or no idea what this company was about, I’d say this would be a riskier move, especially since you’re being offered a controller position. But because you know the ins, the outs, the whathaveyous, that makes this an easier decision, in my opinion.

I will warn you, however – you will not have a “work-life balance.” You will work. A lot. If the “controller role” is a true controller role, you’re going to quickly find out what that means. You’re going to be in charge of the accounting department; you’re going to have people working for you; you’re going to be answering the C-level execs of the company. That’s not typically conducive to work-life balance. I’ve known people that have taken controller roles at your experience level and there is, without fail, a big learning curve that involves putting in tons of hours. Even people that have triple the experience that you have, realize that running the show involves way more work than they anticipated when they left Big 4. And you’re going to a company with “great growth potential.” Since when does “growth potential” equate “really don’t work that much”?

But from the sounds of it, you’re up for, and capable of, handling this type of challenge. Go for it like there’s no tomorrow.