<p>Staff don’t work nearly as much as seniors. I’ve been doing 65-70s hour weeks. It’s not that bad, but like I’ve been saying its not for everyone. I haven’t had to stay past 12am. Yes, I am at work right now.</p>
<p>Wow. 70hr/week sounds pretty rough. I’m foolishly trying to decide between medicine and accounting right now (I know, way different paths), so I’m looking into pros and cons of both. Accounting seems like the more financially sound path with zero debt, instant salary instead of waiting, and certainly room for advancement, but all I’m doing is helping a big company make money :/. Medicine makes you wait a while, gives you a ton of debt, BUT it actually has some sort of purpose besides a salary. I just have to figure out if having a meaningful career is worth the wait and financial burden…</p>
<p>ag54 - those are non public accounting salaries.</p>
<p>goose7856 - only an accountant would count those “perks” as compensation lol</p>
<p>dawgie - lol 65-70 hrs a week! talk about having a life. may I ask you how big your bonus is?</p>
<p>Just wanted to say thank you for everyone’s extremely insightful posts. HS Senior son has been able to “go to school” on all your advice and I hope it makes a difference for him when he chooses his major and university. He is leaning towards Accounting (Finance and Supply Chain are other considerations) with German/International Business (he has dual citizenship). He has full tuition scholarships to Alabama (strong accounting program) and Tennessee; good scholarships to Auburn and South Carolina (auto admit to *1 ranked Intl Business program and would double major in Accounting) and Tulane; admitted to McCombs at UT, Mays at Texas A & M, and Georgia Tech (full freight). Waiting on Common App schools. As a parent, I want him to graduate with minimal debt but with recruiters knocking on the door. His aim is as well stated 3.7-4.0 GPA and significant internship. Will these scholarship schools work for Big 4 opportunities? Leaning towards Alabama and South Carolina because of their programs and scholarship. USC will be launching a new IB program for German as they have in Hong Kong (featured in Bloomburg)</p>
<p>Jellocancer: Just because I work 65-70 hrs a week doesn’t mean I can’t balance my life. I just don’t sit around the TV for 3 hours a day on weekdays. My compensation? Don’t worry about that, it’s a lot more than yours. As well as my upside salary potential. Time to leave work for some shopping.</p>
<p>kmw: Go to UT Austin hands down.</p>
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<p>wowowowowow, I’m interested!</p>
<p>I applied to a lot of the same schools as your son and for me it will probably come down to USC and Ohio State. Interested in Finance/Accounting and was accepted into the Honors College, so auto admit into the IB program as well.</p>
<p>I was interested in the Chinese program, but I would be really interested if they did a program like that in Germany. </p>
<p>Will our class (class of 2015) be eligible? </p>
<p>thanks</p>
<p>Edit: dang, just re-read the bloomberg article, sounds like the plan is a few years away</p>
<p>dawg - you get off early on Saturdays, Congrats!</p>
<p>“I just don’t sit around the TV for 3 hours a day on weekdays.”
8hrs+3hrs less tv = 11hrs
11hrs * 5 days/wk =55 hrs
55hrs + 8hrs saturday = 63 hrs</p>
<p>“I’ve been doing 65-70s hour weeks.”</p>
<p>63hrs + 7hrs (on Sunday???) = 70hrs???</p>
<p>jello, please elaborate on these amazing jobs that you seem to know of that are hiding from us deranged accountants.</p>
<p>As an aside, yes, those are amazing perks for someone that is 22. I can practically go travel anywhere in the United States for free at one time or another.</p>
<p>Oh, I never mentioned paid time off/vacation. The lowest I received was 18 and the others were 20 and 25 days a year. Plus, 7-8 company holidays a year. I would also like to hear where someone can get a full month of PTO beginning on their first day with no vesting period at age 22. </p>
<p>I await your response.</p>
<p>As for the poster above about college choices, I think it would be hard to pass up Alabama with a full ride. It would be an overall great experience and he would definitely have recruiting face time for accounting. UT Austin is the best school on the list–but it would depend on the financial package they have given you. All else equal, UT-A is probably the best accounting program in the country.</p>
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<p>I start this summer, so I cannot give a firsthand account just yet. My experience with the B4 have been mainly recruitment oriented at this point in time. I think 50 hour weeks can be the norm, but it depends on the office and the position.</p>
<p>Thanks as usual Goose. Fifty hours isn’t anything bad, 70 is a concern for me though. But I guess if it isn’t too often you deal, knowing its an entry level job. Plus as you guys pointed out, what the heck else is really out there thats better? Nothing I can think of.</p>
<p>I think audit and tax positions can vary more depending on the time of the year. I think advisory is more of a constant without the swings. Advisory needs to bill 40 hours a week. It can take anywhere from 50-60 hours of work to actually get that done.</p>
<p>It would really cool if I could get an advisory offer. That seems much more interesting to me. But I know those positions aren’t offered that much to accounting students.</p>
<p>Half you guys don’t even know what advisory does. In fact, probably even more. Advisory positions are not consistent amongst all Big 4. Jello, to answer your question, yes I am working on a Sunday. I went shopping all day, hit up the gym, and got into work a couple hours ago. I’m going to enjoy my Tempur-Pedic mattress tonight, how about you?</p>
<p>Also who the hell said I worked only 11 hours on weekday? Me: Work late and go to the gym on weekdays. You: Work nothing, sit around watch TV.</p>
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<p>My son just got off an audit where he routinely got home around 1:30 am. It was when he was on a short deadline for an oil co. audit - had to file within the next week so everyone on the audit was staying very late. Most of the other audits he worked on, he got off around 8:00 or 9:00.</p>
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<p>Uhh, yeah they are, if you count a big 4 company as public acctg. Son’s offer for audit was $50,000+ (not saying exact amt, trying to stay anonymous), plus $5000 bonus for CPA (or $3500 if in 2nd year) plus a great benefits package. All his buddies got the same offer on or about.</p>
<p>Guys, I also have a question. I always hear that when a person gets hired, he/she might get a 5000$ bonus for passing the CPA exam within the first year, and 3000-3500 for the second year, but what happens if a person passes the exam within the third or fourth year? And by the way, is it just a one time bonus, or a consistent one?</p>
<p>One time bonus. If you pass your third year you get nada. Lol, recurring 5k a year bonus.</p>
<p>Dawgie - thanks for your concern about my finances, but I’m doing great 
I’m sure you are going to enjoy your Tempur-Pedic when you are working 70hrs/wk! One thing you’ll save on is not having to buy sleeping pills! IMO, your perceived monetary gain will not be able to offset decreases in SS, retirement benefits, and stress-related health problems. When you get a heart attack don’t expect you’ll have your job, they’ll hire someone else who can work the 70hr work week. </p>
<p>ag54 - basically your son is getting paid $34-42k with the “benefit” of having to work mandatory “overtime” (for lack of a better term since he does not get paid 1.5x). Passing ALL four sections of the CPA in the first year will be difficult if not highly unlikely.</p>
<p>goose7856 - how do you think those are perks? if a company requires travel how many employees expect to shoulder that cost? these are standard practices for employees who are required to travel. Again, PTO time is quite standard. Some employers even offer 4-day work week (unheard of in the Public Accounting world).</p>
<p>FYI
Section 13(a)(1) of the FLSA 29 CFR Part 541 provides exemption from both minimum wage and overtime pay to employees who are paid more that $455/wk. This is so laughable. Accounting work is not like graphics design and as such, I believe you cannot group jobs into just two categories: hourly/salary</p>
<p>jellocancer. I find it extremely hilarious that you are comparing me to you. You do know there are people out there that can handle a fast paced lifestyle like its just a normal day right? Someone with poor work ethic like yourself wouldn’t understand though.</p>
<p>dawgie - no comparison was ever made with you to myself.</p>
<p>You didn’t directly make one, but you indirectly when you said working 70 hours a week I would cause me stress/health issues. You were just making that assumption based on how you would react living my fast paced lifestyle.</p>