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.
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 ...
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