| Topic Name: |
Why so many hours for so little money? |
| Message Name: |
My $0.02 |
| Date Posted: |
03/21/2006 |
| 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: |
I'm an undergrad starting this summer in audit. I'm not really sure what I want to do, and I just kind of fell into it.
The pay is similar to F500 finance and accounting jobs, which are my only other options out of UG job-wise.
I've heard the hours can get up in the 55 range during the busy season, but it was my understanding that the rest of the time they are in the 40s with weekends being rare. Is this incorrect?
I also plan to do law school eventually, but wanted to work for 2 years first. I'm hoping that 2 years audit experience plus the CPA will give me an edge in the job-search compared to other law school students (with everyone being so similar, some differentiation must help, even if it's not necessarily relevant to law).
Also, unless your firm is unique, your hours for biglaw seem a bit low (you said you haven't been there long, so maybe it's slow atm). According to AmLaw surveys, the hours are 60-70 for ALL associates, with junior associates obviously being higher. In that case, investment banking would seem to be a better comparison if you want to compare $$$, and we all know who will win that battle.
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