Skip to main content

different generations

Didn't know it would take only a few years for a new generation to arrive at work. This new generation is scared, and constantly worried about their jobs. Only 2 years ago, nobody in the audit practice even knew the meaning of layoffs. This new generation is going the extra mile to help out on tasks. They're fighting to get on jobs, and want to be utilized constantly. A few years ago, people loved "being on the bench", i.e. not assigned to any clients so they can essentially relax the whole day and complete errands here and there. People are all over their CPA exams now. In the past, people stayed at the firm for years before they even began studying. Staff associates are shocked when people complain now. The "be happy you have a job" mindset has taken over. The power has shifted from the employees to the firm. There are rumors now that raises will be neglible, if anything. In the past, people complained if the raises were below 10%. Now they'd be really surprised if its around there.
Labels:

Comments

Daniel said…
This is so true! I work in a regional firm in the Southeast. When I started here a few years ago the firm needed staff more than the staff needed the firm. Now after two rounds of layoffs that old mentality has fallen away. Staff usually get 10% raises in June but those were cancelled. This sucks!
August 3, 2009 at 7:15 AM
Anonymous said…
Yeah over here there were no raises for anybody unless you were promoted to manager...
August 3, 2009 at 9:12 AM
Daniel said…
There were three people promoted to manager in January in the audit department where I work, they didn't even get the raise they were promised.
August 3, 2009 at 10:36 AM
Anonymous said…
What advice do you have for first years at a Big Four in audit to make sure they keep their job?
August 4, 2009 at 10:45 PM
Anonymous said…
It's pretty amazing I'm a Big 4 employee in the Caribbean and the associates here are terrified.. and we haven't had any significant layoffs. People are just feeding off what's happening abroad to their friends at other Big4 firms).... They are displaying the behavior so clearly outlined in this post... desperate to get on jobs etc etc
August 5, 2009 at 3:31 PM
Anonymous said…
See me, I'm glad I have a job, but at the same time if I was laid off from this Big 4 crap i'd be relieved from not having to work ridiculously long hours each week.
August 12, 2009 at 1:03 PM
Post a Comment

Popular posts from this blog

ADP/Payroll

Just realized that the very payroll/adp reports we all enjoyed looking at in order to see how much our client contacts made, now seem to piss me off. Especially when your main contact, who couldn't tell a debit from a credit, makes significantly more than you, and leaves at 5. It's almost guaranteed to get you in a foul mood and yak with your team about the ridiculous salaries that certain employees get when compared to yours.
36 comments
Read more

should you choose to audit financial services?

I'm trying to decide whether to audit financial services companies or non-financial services companies. What would you say are the pros and cons of either industries? Do individuals who choose non-FS have less career mobility within the firm or if they decide not to stay with the B4 after a few years? Really depends on what you'd like to do after (unless you really love auditing). If you want to a controller,etc. at a p/e firm or a hedge fund down the road, you'd want to go into financial services. The pay won't be too bad, especially if you get a share of the insane bonuses they dole out. If you want to audit industries with tangible products and want to get a better understanding of the operations of such businesses, then other industries are the way to go.In terms of mobility outside the firm, auditing other industries is the way to go since you have plenty of options when you exit the audit world. For example, in 2008, after Lehman collapsed, it was incredibly hard ...
47 comments
Read more

auditing vs consulting

I was wondering if you could break down the career opportunities in auditing and consulting (in a big 4). I know that consulting pays more in a big 4 and has more interesting work, but it seems that auditing has extremely good exit opportunities (Financial controller, CFO etc). Any thoughts on which is better in the long run? Well there's different consulting services offered by public accounting companies - the most popular being IT consulting and risk consulting. There are also other consulting services offered, but these two hire the most. Do they pay more? Yes, but not by much. Not enough for you to say: Shoot, the $$ is a huge reason for me to move over. Is the work more interesting than audit? Yes. You're actually looking over a company's processes and telling them what to do instead of what not to do (audit). Everyone I know who's made the switch likes it waay better than audit. In the long run though, choosing audit vs consulting really depends on what you want ...
66 comments
Read more