Been a month or so since we found out about our compensation. People asked me how I thought the raises would be, and I honestly had no idea. The higher up you go, the less you hear the gossip since many of your colleagues who started with you have left. It is really funny how open some people are about compensation sometimes. The staff always seem excited because they've never been through this process before.
Overall, compensation this year seemed to be within expectations. I've really become numb to it at this point, it's nice to have the number increase, but that's about it. For those of you interested in numbers, head to going concern.
Monday, 2 September 2013
Thursday, 8 August 2013
book-keeping to audit
I have been working as a bookkeeper for 4.5 years in both public and private accounting. I'm young, ambitious and confident in my accounting (not just bookkeeping) knowledge. I have recently completed the CPA exam. I graduated 2.5 years ago.I would like to become an auditor, especially for a Big Four. I have had difficulty finding an entry level auditor/staff accountant job. I am living in the Bay Area, CA. What would be your advise for finding an auditor job? Should I go back to school for Masters just so that I can get an internship? How difficult is it to get audit experience when somebody is no longer in school?
You'd want to seriously reconsider trying to jump into audit in your mid to late 20s. The audit culture, especially at the staff associate level, is usually not conducive to people at that age. Not trying to age discriminate here, but do you really want to be taking orders from 24-25 year olds? The relaxed environment that you worked at in the past will be nothing like the audit hours and lack of flexibility at that level, especially during busy season. This is probably why many recruiters are unfortunately not following up with you.
My advice, if you really want to be an auditor, is to apply to small regional firms. If you already have your CPA, there is no point getting a masters, save that $$$. If that doesn't work, befriend somebody who works for an audit firm, and get them to send your resume to the recruiters. This could help.
You'd want to seriously reconsider trying to jump into audit in your mid to late 20s. The audit culture, especially at the staff associate level, is usually not conducive to people at that age. Not trying to age discriminate here, but do you really want to be taking orders from 24-25 year olds? The relaxed environment that you worked at in the past will be nothing like the audit hours and lack of flexibility at that level, especially during busy season. This is probably why many recruiters are unfortunately not following up with you.
My advice, if you really want to be an auditor, is to apply to small regional firms. If you already have your CPA, there is no point getting a masters, save that $$$. If that doesn't work, befriend somebody who works for an audit firm, and get them to send your resume to the recruiters. This could help.
Monday, 15 July 2013
phone addiction
I admit that I am addicted. It must stop. And I know I'm not the only one. I am addicted to my phone, and my immediate reflex when I get work emails is to check it, regardless of time of day. I could be working from 7:30 am - 11 pm, but when I'm back home and it's midnight, I feel that familiar buzz in my pocket, and I instantly pick up the phone and check my email. This could end up in three different ways - a) delete the email, not important, b) save it so I can respond tomorrow c) frustrates me enough that it affects my sleep d) makes me relieved since it was the resolution of a certain issue. This could have waited until the next morning, but it's almost out of instinct that I have to check that email. Knowing that there's an unread email out there is annoying since in my mind it could be a big issue that needs to be tackled asap, even though it can realistically wait. People say that this smartphone age makes work efficient, but it also takes a stranglehold over your life after work. If you can set the phone aside after work and not check your work email, good for you. But the worst part is when there are late night deadlines, and the client/team reaches out to you, you are expected to be on call. If you don't respond within an hour or so, people would wonder why. It's sad, it really is. I've tried not checking my work email after work if I work late nights. I was successful for a few weeks, especially since I know the effect that work emails have on my sleep. On one occasion, I didn't check my work email after 9:30 even though the email number get piling up. I check it the next morning to see 18 emails, many of which were the client asking for approval to file something. So now I'm back to square one.Worst part is, I know I'm one of many. Oh well, going to try again.
training
I am starting my career in audit in September at a European office. I know that the companies have very good training programmes, yet I still feel like preparing myself in any way possible. Do you have any tips for me and other new hires?
To be honest, there's no need to prepare. Even the training programs are insufficient. The majority of your training will be on-the-job, i.e. when you're in the field and your senior associates are teaching you how to audit. In fact, I'd venture to say that the people who participate a lot in training are not the best in your training class a majority of the time. Just focus on your senior's training the first few weeks at the client, and you should be golden. Of course, your senior should have the necessary competencies to teach well.
My first senior was horrendous. My first day on the job, he comes up to me and asks me to audit receivables, and then leaves. A fellow staff associate who started client work a week before I did helped me out. To this day I won't forget how shoddy that senior was. So in summary, I hope your first senior is a strong one. Ask lots of questions, but make sure to think a little before you ask them, and you should be in good shape.
To be honest, there's no need to prepare. Even the training programs are insufficient. The majority of your training will be on-the-job, i.e. when you're in the field and your senior associates are teaching you how to audit. In fact, I'd venture to say that the people who participate a lot in training are not the best in your training class a majority of the time. Just focus on your senior's training the first few weeks at the client, and you should be golden. Of course, your senior should have the necessary competencies to teach well.
My first senior was horrendous. My first day on the job, he comes up to me and asks me to audit receivables, and then leaves. A fellow staff associate who started client work a week before I did helped me out. To this day I won't forget how shoddy that senior was. So in summary, I hope your first senior is a strong one. Ask lots of questions, but make sure to think a little before you ask them, and you should be in good shape.
Friday, 12 July 2013
Compensation season has begun!
That time of year, when the gossiping and speculation begins, when some directly ask how much others' raises were (which I think is ridiculous, what a kind of a question is that? Learn some manners), and some try and get a sense from the demeanor of others to see if the raises are good. Every year there's rumors - raises are going to be great, raises going to be at market, raises are going to be bad. You usually cover the whole spectrum. When the raises are final, some go on rants about how pathetic the raises are. Some think the raises are really good. To those folks - listen, we are constantly underpaid - that is the model and I don't see that changing - so the raises are not good. Yes, the %s might be good, but the total salary for the amount you work - come on! Keep in mind you don't get equity. Especially the people who started in 2008-2009, when we didn't have raises -to you, any raise is a good raise.
People - don't compare your salary to the outside world's salary. Compare your salary to the outside world's salary + bonus + equity. It's not even close sometimes. The Firms try to spew kool-aid stating that our % raises and base salaries are pretty good. What they don't talk about is the equity you get when working in private. It's all about the equity. Keep that in mind.
People - don't compare your salary to the outside world's salary. Compare your salary to the outside world's salary + bonus + equity. It's not even close sometimes. The Firms try to spew kool-aid stating that our % raises and base salaries are pretty good. What they don't talk about is the equity you get when working in private. It's all about the equity. Keep that in mind.
Start date
Most of my peers / class and I signed the full-time offer that's supposed to be starting in September of this year. However, HR has now provided us an option to defer our start dates. I'm considering deferring to the next start date - January. Do you think this puts me at a disadvantage? Would missing planning and interim work in the fall affect my intermediate (2nd year staff associate) year performance? Would Seniors be so busy during busy season that they wouldn't have time to teach me / properly give instructions? Is it more difficult work in busy season? Thanks!!
It depends. So if you start in January and are a good performer, you will probably get promoted the same year along with the September class, so if you graduate early, and want to get a head start on your professional life, go for it. Busy season will be a heck of a training ground for you.
If you want to ease into busy season hell, start in September. You are right about seniors not having time to teach you during busy season. So ideally, for the team and for yourself if you like instructions and warm-up, start in september, but there are a few rockstars out there who started in January. Definitely more difficult, but it saves you three months of work.
It depends. So if you start in January and are a good performer, you will probably get promoted the same year along with the September class, so if you graduate early, and want to get a head start on your professional life, go for it. Busy season will be a heck of a training ground for you.
If you want to ease into busy season hell, start in September. You are right about seniors not having time to teach you during busy season. So ideally, for the team and for yourself if you like instructions and warm-up, start in september, but there are a few rockstars out there who started in January. Definitely more difficult, but it saves you three months of work.
Wednesday, 10 July 2013
blogging
On a side note, did you stop blogging? As far as I can see there are quite a while since your last post
I just didn't feel like booting up my computer when I came home to be honest. On a side note, I've always thought about writing a book down the road about my experience at a big 4 firm. Doesn't seem like anyone's done this, and seems like something that people would read/buy. Thoughts? Should I just stick to blog posts.
I just didn't feel like booting up my computer when I came home to be honest. On a side note, I've always thought about writing a book down the road about my experience at a big 4 firm. Doesn't seem like anyone's done this, and seems like something that people would read/buy. Thoughts? Should I just stick to blog posts.
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