| Topic Name: |
Why so many hours for so little money? |
| Message Name: |
Thank you |
| Date Posted: |
03/19/2006 |
| In Reply To: |
I have a bachelor's and master's in accounting, yet I still don't understand the dynamics of the profession and why people are willing to work so many hours for so little payoff. If things are still as they are when I finished those degrees, PWC associates are starting out at a lower middle class $40-$50k. Assuming a 60 hour work week, 2 weeks vacation(that you probably won't even take), and a $45,000 salary, the pay works out to $15 an hour. That's about the same as what a stocker at costco makes.The hours are brutal, and the raises aren't very impressive. It seemed like a terrible deal, and I'm glad I didn't take it.
I went to law school instead, and I've been at my job for a few months now. The hours are about the same as what I would have worked if I accepted my offer from PWC. In my first year here, I will make a minimum of $145k, and I will get $20-$30k on top of that if I hit my billable hour target. Sure, the work is just as soul-sucking as auditing, but at least I feel like the pay makes it a fair deal.
For those who stuck with it, what is the attraction of working so many hours for so little pay? How is it that PWC is able to get away with compensating you so little? I almost fell for their lines about "resume building" and "exit options" a few years ago, but I definately feel like I'm better off having gone to law school. |
| Message: |
See below thread on ??Incentives?? for my similar comments. I??m in the same boat as you except I??m heading to law school in the fall.
If people wonder why I post on this board it is because at two separate points in my life I was offered a big 4 audit job. Both times I did extensive research into the opportunity and ultimately turned it down for what I felt to be a better opportunity.
Auditors are a class of professionals who are being taken advantage of. It is not acceptable to be paid $15 as a CPA with a Masters degree ?? regardless of ??exit opportunities??. I??m not for unionization in general but it almost seems about time that auditors demand better treatment. Instead of working 1 MSA CPA 70-80hrs a week for 50K perhaps hire 2 people, or perhaps pay that one person $10-20K more.
It is not acceptable for a ??professional work environment?? to be staffed with an army of inexperienced grunts 90% of who will turnover in 1-3 years. This is more the dynamics of a high school job at taco bell than a legitimate corporation.
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