Job Responsibilities
Get a client file, look at financial statements, adjust for tax
laws by booking journal entries, input into tax software, print
out return, give to senior accountant. Later, make corrections to
said return and give to senior accountant. This process repeats
itself in perpetuity. There is NO downtime.
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Job Requirements
undergrad degree in accounting, masters in accounting, CPA is
optional until you want to make manager.
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Uppers
Pay is decent. At my firm you get paid overtime thus pushing me into the mid
$60's... could be $75 if I wanted to work more (but I hate my job so I'm not).
You will definitely get promoted if you're willing to just stay. Being
smart/intelligent is not really necessary. Stay for 3yrs = senior, 6 = mgr, 9 =
senior mgr, 15 = partner/principal.
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Downers
Job is incredibly boring. LOTS of pressure to complete projects.
Billing time is a complete hassle. You might work for 4 hours to
make 3 billable hours. Sometimes you can be in the office all
day, and only have 4 billable hours.
There's no downtime. Most of my friends in other industries work
2 hours a day, surf the web for 6. I work for 8, surf the web for
0. This can be very straining. Plus there is always work to be
done. If you work extra hard, you're rewarded with even more work.
Did I mention the pressure? You're under constant pressure to
turn projects around. Even at the expense of your own personal
life outside of work.
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Lifestyle
Work hours are brutal. Expect 50/week during "off season/non-tax season" and at
least 70 during tax season. Remember the "no-downtime" mentioned above.
Dress code is serious. Business casual, no exceptions.
The stereotype about accountants is generally true. People have miserable
personalities. Although I don't blame them. I think most people just hate this
job and it makes them depressed.
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Compensation
Base = $50,000 plus overtime, no bonuses/stock/etc.
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Advice to Jobseekers
Don't do accounting. It's easily the biggest mistake I've made.
This job is depressing and everyone is on the verge of quitting.
The only thing that stops them is rent, mortgages, car payments,
student loans, etc...
Also, accounting is very asset specific. you'll get stuck in this
industry pretty quick unless you get out within your first couple
years. Even if you go work for a private company, you'll still be
doing accounting.
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