Whoa Bitter Big 4 Bitches

PwC Partners Take Their Appreciation for Employees to the Pages of the Wall Street Journal

A "Senior Associate" who was not impressed with the firm's effort tipped us to an ad in today's Journal. SUBJECT: How the hell have you not done a story on PwC's terrrrrrrrrrrrrible ad in the WSJ????   What are you guys asleep at the switch?    PwC ran shitty ad featuring our new brand in the WSJ.  […]

Bonus Watch ’11: PwC Tax Senior Has Nothing to Be Thankful For

This just in:

Folks at GC,

Last year, PwC announced in November Mid Year bonuses that were tax free (you did a story on this). This year, nothing so far. They need to be called out for this. Mark Mendola: WHERE THE BONUSES AT?

Love,
Tax Sr at PwC

To clarify, this is the story we did and, correct me if I’m wrong, the bonus was not “tax free” rather it was a net payment of $1,000/$500 (lower amount was for those hired after June 30). As for this year, our little Tax Senior with dirty diapers is right. We haven’t heard anything about mid-year bonuses, from Mark Mendola or anyone else. If you’ve spoken to him and know either way what the scoop is, please let us know. Someone’s Thanksgiving may be RUINED if we don’t get to the bottom of this fast.

Infuriating Problem of the Day: Accountants Quitting During Busy Season

Seriously people. For most of you, this isn’t a problem. You gird up your loins, duck your head and bulldoze your way through this time of year just like you’ve done in years past. Busy season sucks. We all know that.

Who in their right mind interviews with the Big 4 et al. and is thinking, “The hours won’t be that bad,” or “I probably won’t have to travel” OR “Big 4 salaries are good enough for me”?


The Big 4 Exodus is something that has been discussed at length here but until we’ve yet to discuss this particular topic.

Yes, the trend of accounting firm layoffs is demoralizing and yes, merit increases were mostly frozen, and there were virtually no bonuses> Hell, you may working your ass off knowing that your staff makes more than you but if you’re working in mid-February, what ton of bricks hits you that causes you to conclude that bailing out on your team is the best option?

All the people we’ve had the pleasure of working with, despite all of them having multiple “F— THIS!” moments, pull it together because they have a job to do. Why the hell didn’t you quit prior to busy season? You really felt like sticking it to everyone?

Fine. Perhaps your desire for sweet, sweet revenge against your senior/manager/partner/firm is more powerful than any shred of integrity you may have but for crissakes, that makes you a very bitter person. More so than the average accountant.

Seriously? It couldn’t wait? There isn’t that much time left in busy season. And besides, if you’re patient, they may pay you to leave.

The Fortune 100 Best Companies to Work For: Plante & Moran #66

Contrary to what you’re probably thinking, Plante & Moran is no dark horse. They’ve been on the list for five twelve straight years and rank ahead of the rest of three of the Big 4 in this year’s list (cue for “who the hell is Plante & Moran?”). They’ve fallen from their peak of 12th back in 2006 but we’re sure the firm can explain.

Plante & Moran – Previously ranked #42. Fortune took the unorthodox approach of using P&M’s layoffs to describe their greatness: “Audit firm laid off employees, but staff members commend the “team pain” approach: enhanced severance pay, outplacement services, pay cuts for partners, and deferred pay hikes for staff.”


Other interesting stats per the snapshot:
New Jobs (1 year): 10
% Job Growth (1 year): 1%
% Voluntary Turnover: 7%
No. of Job Openings at 1/13/2010: 17
Most common salaried job: Audit staff with average salary of $65,500

The firm offers onsite child care during busy season but does not have a nondiscrimination policy that includes sexual orientation nor does it offer domestic partner benefits for same-sex couples.

We’re not saying the latter two reasons are why they fell from #12 but it might help them jump back into the top 50.

Earlier:
Ernst & Young #44

An Open Thread on Accountants’ Salaries at the Big 4: What Do You Make?

money.jpgWe received a request over the weekend to discuss everyone’s favorite topic: money.

This is a great idea on many levels since A) it’s been quite some time since we’ve dedicated a post to the subject B) there are plenty of newbies that have started since then but mostly C) knowing what everyone else is making is your God-given right.

Hopefully, this new thread will get everyone up to speed (or just completely pissed off on a Monday) and ready to run through brick walls in 2010.
In the comments, provide the following:
• Salary without bonus, bonus amount
• Level
• Practice (audit/tax/advisory), practice subgroup
• Firm, city/region
• Other notes/complaints
The reader requesting the thread, was kind enough to provide their details:
• $52k, $3k (in start year, bonus was a whopping $0 this year)
• Associate 2
• Audit
• PwC, Northern California

This is an equal opportunity post so regardless of your firm, get your numbers out there (this means you: GT, BDO, RSM/M&P, Crowe, Moss Adams, anyone else).

UPDATE, Tuesday: Thanks for all the input so far. Feel free to email us if you want to give us more details on your salary or ideas or other related thread discussions.

Other money related discussions:
Problem of the Day: Do You Quit Your High-Paying Job with the Idiot Boss?
Satisfied with Your Salary?
Problem of the Day: Your Staff Makes the Same Money As You (Maybe More)

Let’s Try and Forget About Money

half full.jpgWe realize that might sound like kooky-talk but we said try you twerps.
Ajilon Professional Staffing released its salary guide for 2010 and is predicting a decrease in salaries of 0.85% overall. CFOs and Treasurers are expected to take the biggest hit with an expected drop of 7.7%.
Now before you all start belly-aching about less money, the report does indicate that because of regulatory and compliance changes the scope of positions for those with backgrounds in accounting and finance will broaden.
More survey results after the jump


Additional findings:

• The majority of accountants (86%) believe that the convergence from U.S. GAAP to International Finance Reporting Standards (IFRS) will have a positive impact on the finance/accounting profession.
• The demand for financial analysis, budgeting and forecasting due to the recession will be the #1 driver of job opportunities for accounting professionals, followed by the transition to IFRS and the economic stimulus package.
• No surprise, nearly 60% of accountants say they have been spending more time on cost-cutting initiatives as a result of the recession and financial crisis. Some of the things they have been doing to reduce expenses include: cutting discretionary spending; taking a harder look at business lines, product and sourcing; and increasing attention to driving reported earnings and cash flow.
• Fifty-one percent (51%) of accountants said they have imposed across-the-board spending and capital freezes as a result of the recession.

So the last two bullets probably are of most interest because, you know, some of you are intimately familiar with them.
Nevermind that though, it’s in the past. IFRS, even if it’s a DeLorean ride away and government overhaul fever will create jobs for you and you’ll all be back in your McMansions in no time. At least attempt to channel some of that Tony Robbins shit.
Or continue being bitter, whichever.
Ajilon Professional Staffing releases 2010 Salary Guide [Press Release]

Apparently Your Farewell Emails Need Work

farewell-00.pngWith all the bitterness out there, we’re really not sure why this particular person is getting attention.
We surmised yesterday that the Brits seem to take a more active interest in all things bean county but their articulation in farewell emails certainly can’t be superior to yours. After all, you can’t hear the accent when you read.
After the jump, a taste of the bitterness that’s getting lots of attention in the UK:

Today is my last day at PwC. I haven’t sent this to everyone because what would be the point? Why do people send their leaving emails to everyone? We didn’t care about you then and we certainly don’t care about you now.
I still presume hardly any of you knew me, which is good because I’m rubbish at audit, so I wouldn’t have helped your stellar careers.
I’ve also learned how not to decorate an office – green and orange block colour walls with business buzz phrases on. ‘Find your space’, ‘always add value’ etc. Where do these terrible phrases come from? Is there a team of people lurking about in Embankment Place whose only duty is to pump out corporate drivel?
I look forward immensely to never having to attend an event in which Our Beloved Leaders stand up and tell us we’ve massively exceeded budget, so in reward we get no bonuses and instead we get the treat of listening to Coldplay while quotes from the greatest leaders of our times are played across a screen.
I’m also on Facebook but I hate it. I’m sure you’ve got real friends of your own and I’d prefer if you left me alone quite frankly.
If we ever talked (doubtful, I avoided anyone that looked like they might give me some work), add away.
I’ve left some treats in the group area.
Not really.
Bye forever xxx.

PwC accountant’s email is global hit [Telegraph]

Think You’re Bitter?

revenge.jpgSince some of you might not be spending your weekend consuming massive quantities of red meat, and thus, might be a little bent out of shape, we thought we would present a couple of quotes from “farewell emails” provided by readers.
Granted, these have probably made the rounds but we’ve included our favorite passages to demonstrate just how bitter some people are. Hopefully this will result in self-reflection for some of you but for some of you, it may be the sign that you’re beyond help.
Feel better about yourself (or pretty much the same) after the jump


Former PwC, who is obviously concerned about the mass soda consumption:

I would greatly encourage some kind of weight loss challenge to be implemented firm wide. The herd of water buffalo you call your work force is embarassing and a bit gross. When I call a co worker over from 2 cubes down and they are legitmately out of breath when they get to my cube it may be time to knock off 10 or 80 pounds. The company seems to encourage this obesity; each busy season we get a giant package full of pixie sticks, chocolate and assorted sweets. As much as I would enjoy type 2 diabetes, I think I’ll pass.

This particular former Green Dot should seriously consider some Dr. Phil time:

I would like for you to take note that Deloitte’s continuous lying and deceit is not acceptable to me or anyone else. Deloitte has been the biggest Disappointment because they are Deceitful, Demoralizing and De-motivating to their graduates who they should be uplifting as they are the foundation for future leaders of this country…When I started at the DGA I was promised many things, house on the hills and a black convertible to name a few. I was told that all the sacrifices I make during the programme would be worth it in the end. I ask how will it be worth it and when is the end?

iPhones are one thing but if the new recruits are promising black convertibles, for crissakes, please let us know.
These two examples certainly give credence to the notion that on call psychoanalysts for Big 4 employees should be given serious consideration. If you’ve got more examples out there, shoot them our way. We’re here to help as many of you as possible.