The Official-ish DC Thread

[mak1277]

Same here. I spent 10 years in public accounting with the last 6 with KPMG and then PwC. Going back is my last resort if I ever get fired.

14 years at PwC for me. Been out 7 now.

 

[Texasmade]

What is your specialty?

I do financial reporting, automation of processes (aka cutting staff), writing reports using sql + excel, working with databases, etc. I guess you can call it IT Accounting or something like that.

NO TAX!

Financial reporting. I work in Houston. I don't know how I got roped into the DC thread. I did 8 years of audit and the last 2 years in accounting consulting.

 

[smittycl]

Financial reporting. I work in Houston. I don't know how I got roped into the DC thread. I did 8 years of audit and the last 2 years in accounting consulting.

You popped over on Coup Day when I invited the Covid thread I think. We were in full existential meltdown mode.

 

[Texasmade]

You popped over on Coup Day when I invited the Covid thread I think. We were in full existential meltdown mode.

Thanks for the invite since now I'm never leaving.

 

[CollingsD2H]

Financial reporting. I work in Houston. I don't know how I got roped into the DC thread. I did 8 years of audit and the last 2 years in accounting consulting.

I'm sorry for your suffering.

 

[Kangnamstyles]

14 years at PwC for me. Been out 7 now.

Wow. I did 4 years at PDubbs and 5 at Toilet and Douche. Not in accounting though. HR consulting. Been out 5 and would only go back if I couldn’t find anything else.

 

[Texasmade]

So many ex big 4 alumni and not a single one would go back unless it was a last resort

 

[CollingsD2H]

So many ex big 4 alumni and not a single one would go back unless it was a last resort

Heck, I did structured finance for x number of years at a Big4. In the year I quit, I was home for 4-5 hours, did 6 shots of espresso in the morning and another 6 shots of espresso in the afternoon. My heart was like "yo homie, you sure you wanna keep doing this?" It was work work work and sleep on my sofa for 4-5 hours and then back to work. The last 2 years was just unbearable. I've had enough so I quit. I didn't get another job for another month but my wife did not ***** at all but just supported me. And now I work from home, 35 hours/wk, awesome benefits, everything is automated, life is so easy but it was a ***** to get to where I am now.

 

[Kangnamstyles]

Heck, I did structured finance for x number of years at a Big4. In the year I quit, I was home for 4-5 hours, did 6 shots of espresso in the morning and another 6 shots of espresso in the afternoon. My heart was like "yo homie, you sure you wanna keep doing this?" It was work work work and sleep on my sofa for 4-5 hours and then back to work. The last 2 years was just unbearable. I've had enough so I quit. I didn't get another job for another month but my wife did not ***** at all but just supported me. And now I work from home, 35 hours/wk, awesome benefits, everything is automated, life is so easy but it was a ***** to get to where I am now.

Yeah that's nuts. If I hadn't met my wife, I probably would still be running on that hamster wheel, but thankful that I got out. I think there are only 2 people in my life out of hundreds of connections that have remained at the big 4 and moving up to partner etc.

 

[smittycl]

Entire National Mall now closed on Inauguration Day due to threat of violence.

 

[Texasmade]

Yeah that's nuts. If I hadn't met my wife, I probably would still be running on that hamster wheel, but thankful that I got out. I think there are only 2 people in my life out of hundreds of connections that have remained at the big 4 and moving up to partner etc.

Since I'm 14 years past graduation, I have quite classmates and former coworkers that are now partners at big, GT, or RSM. It's kind of weird to me now hitting that age where you see your coworkers that you were a staff or senior now making partner.

One kid from my high school who went to Texas Tech with me became an audit partner in just under 10 years at a big 4. This guy was insanely smart when it came to accounting. He was a giant pot head in HS and turned out alright.

 

[imatlas]

It's kind of weird to me now hitting that age where you see your coworkers that you were a staff or senior now making partner.

Wait until someone in your cohort announces their first grandchild.

 

[mak1277]

Since I'm 14 years past graduation, I have quite classmates and former coworkers that are now partners at big, GT, or RSM. It's kind of weird to me now hitting that age where you see your coworkers that you were a staff or senior now making partner.

One kid from my high school who went to Texas Tech with me became an audit partner in just under 10 years at a big 4. This guy was insanely smart when it came to accounting. He was a giant pot head in HS and turned out alright.

It's especially frustrating when you were in the partner track yourself like I was. I probably would have left 2-3 years earlier if I hadn't been. I was deferred my first time through the process and just felt that it was time to leave. It was a good decision (both for my work/life balance and [more surprisingly] financially) but I still feel the pangs of envy every year when someone forwards me the new partner list and I see a bunch of clowns on it that I trained.

 

[Texasmade]

It's especially frustrating when you were in the partner track yourself like I was. I probably would have left 2-3 years earlier if I hadn't been. I was deferred my first time through the process and just felt that it was time to leave. It was a good decision (both for my work/life balance and [more surprisingly] financially) but I still feel the pangs of envy every year when someone forwards me the new partner list and I see a bunch of clowns on it that I trained.

I was talking to a KPMG audit partner last year and he told me the comp was around $200-$250k your first year. After that you go up by $40k-$50k a year until you top out at around $500k a year. Once you reach that you don't really get increases except for maybe COLA unless you bring in a big time client or get promoted to a practice leader/business unit leader. With C19 though, I think the compensation ladder is going to be reset.

He said most partners just cap out after 10-12 years and then just coast it out for the next 15-20 years until retirement if they choose to stay.

 

[mak1277]

I was talking to a KPMG audit partner last year and he told me the comp was around $200-$250k your first year. After that you go up by $40k-$50k a year until you top out at around $500k a year. Once you reach that you don't really get increases except for maybe COLA unless you bring in a big time client or get promoted to a practice leader/business unit leader. With C19 though, I think the compensation ladder is going to be reset.

He said most partners just cap out after 10-12 years and then just coast it out for the next 15-20 years until retirement if they choose to stay.

The pension is the real carrot though IMO. Six figures per year for life and you’re retired at 55.