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A new era

Summers at the beach or mountain house, playing with the kids, improving their golf handicap...work a little bit during busy season, schmooze at charity events in the fall, with the occasional appearance at the office. Gotta love the partner life....prior to the 2008 recession. 

Now? With SOX and increased regulation and compliance requirements - (thank the PCAOB for this), we're working year-round, and so are the partners. Oh don't get me wrong, there's still the long summer getaways, golfing, schmoozing, sporting events, etc, but at a reduced level.

 The stress levels have increased exponentially from back in the day. Sure, the money's better than the past, the benefits (at least in the US) are still unparalleled, but is it worth it? 
That's the question on most managers' and senior managers' minds. Even the partners now admit that times are different now. Some believe that this increased regulation is just a phase, some think it's here to stay.

One thing's for sure,we are entering a new auditing era. 


Comments

Auditor said…
Just wanted to saw, I truly enjoyed reading through your blog. As someone, who is just entering the field and in the process of taking the CPA exam, it's good to see the progression of someone who has gone through the same.
September 6, 2012 at 4:11 PM
Constantly Evolving. said…
Hi there.. As a big four employee, lately, I've been hearing a lot about "boomerang" employees. Those who, for some reason or another, decide that leaving work when the sun is still out is not for them and alas, return back to the firm. Yes, the grass is not always greener on the other side, however, is this trending upward or about the same as it always has been? I think, also, that the firms really do a good job in highlighting those that do choose to return to make it appear more common than reality. Can you please speak about how you've seen the trend of "boomerangs" amongst the big 4?
September 7, 2012 at 12:26 AM
Unknown said…
This comment has been removed by a blog administrator.
September 7, 2012 at 7:14 AM
Anonymous said…
I don't know about the benefits being unparalleled. I think the Big 4 benefit (at least at PwC and EY) were relatively subpar compared to going into industry.

For instance, the 401k at PwC had a 5 year vesting period and a 25% company match. The worst industry position I've been offered had a 50% match and 3 year vesting period.

These kinds of dollars and cents start to add up.
September 16, 2012 at 6:23 AM
notfordisplay said…
I'm specifically talking about benefits as a partner..your "pension" post-retirement is what I'd consider "unparalled", you wouldn't get this in private.
October 8, 2012 at 1:34 PM
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