If you major in accounting, you likely chat a good deal with friends about earning a job with a Big 4 accounting firm. How it’s your aspiration to secure employment within PwC, KPMG, Deloitte, or EY. Yet you may be are wondering what is the path best for your needs. It is better interning at a small public accounting company or employed as an auditor/tax consultant for an organization? Sometimes it can be difficult to choose. Working several years at a big accounting firm, I figured I’d give you the positives and negatives with regards to working at these firms. I hope it aids your decision to which route is right for your case.
Positives:
Work with the best accountants in audit and tax. These companies will only employ the top talent which means you will be collaborating with the very best. As a result, you’re pushed every day and master a lot.
The majority of your co-workers will be a close in age. This assists in building group chemistry considering that you and your team have a great deal in common. You like the team members you see in the workplace on a regular basis. If you work at corporate company, you possibly will not have a significant amount of of people of your age as co-workers.
PTO Time is Significant. Based on the major firm you’re at, you may have as many as 25 PTO days annually the moment you start. This is very uncommon is other companies.
Leading a team early. Once you spent two years working as staff, you will begin leading audit and tax teams as a senior. This is a great opportunity that can’t be found outside the Big 4.
Training Annually. If you want to turn into a great auditor/tax consultant, you need to be attending trainings regularly. The Big 4 organizations have annual trainings for employees and have online classes to help them stay up to date of the present accounting profession.
Savings. Because Big 4 accounting firms are multinational organizations, they usually have numerous agreements with various other organizations. This leads to plenty of discount prices on stuff like mobile phones, floral arrangements, apparel, and event tickets.
Points. Working as a consultant or on a team that must travel, it’s possible to compile a large amount of airline and hotel rewards. Use the firm credit card and then utilize the rewards during your personal PTO.
Celebrations. The major accounting firms realize how to put on several gatherings for office workers. The party at Christmas and after April 15th are always a good time.
Negatives:
Lots of working hours. From the first day of the year through April 15th, you are likely to be at the office lots of hours each week. 55 hours at the minimum to 80-90 hours at the maximum. The remainder of the months the work schedule changes depending on the engagement you happen to be on. For those in audit, your hours will rise for each quarter. Tax time also increases again after August. It is often infrequent to get a consecutive period of forty hours a week for greater than a number of weeks during year. At small firms, your working hours are going to be much less during the year.
No PTO Period. From 1/1 to 4/15, you’re not permitted to use your vacation time. This can be very irritating when your family and friends are going on vacations.
Promotions. When you’re elevated is essentially connected to your experience level. It’s only possible to become senior only after two years as a staffer, five years for manager, and so on. Strong performers who are capable perhaps of being promoted sooner based upon value will find this frustrating. Yet this won’t ever happen.
Self Assessment. For each project you do for more than 40 hours, you are forced to produce a personal evaluation. These are not fun to produce.
Politics in the Office. This is difficult to steer clear of in any firm and of course the Big 4 accounting firms are not immune to this.
Time at a Computer. It is likely not healthy to look at at a laptop display for 10 plus hours a day yet this is precisely what occurs from 1/1 to 4/15.
Commuting to the Client. Rarely are commutes less than 35-50 minutes per direction. This will likely wear on you if you find yourself working after 11PM each night through the course of busy season. Those people who have an assignment near their house are the lucky ones.
In the end, the advantage of being employed with a Big 4 accounting firm significantly outweigh the negative aspects. Getting EY, Deloitte, KPMG, or PwC on your resume is a great start for your accounting career. Nonetheless being employed at these firms isn’t for every individual. You should comb through this list and consider what you wish for your own personal future. See if you can include another item to it. Being an accountant no matter what is a very good option.
