What do 1st year accountants make?
What is the total compensation for a big 4 1st year accountant? How about for a MAC?
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Do Big 4 even hire kids without a MAC anymore? I was under the impression that there are so many Bachelors/Masters combined programs that most kids with only undergraduatee ended up at second-tier regional firms (apologies in advance to the masters degree holder who has a job at a regional firm, im sure the flatter organizational structure and greater responsibility will really pay off in the long term).
More so than banking, I think this really depends on where you are. Advisory services like TS and Structured Finance aside, do you think your entry level PwC staff accountant is going to make the same thing in New York or Chicago as in Charlotte or Knoxville. Firm to firm, compensation in the same city will be IDENTICAL, but city to city it might vary $20-25K.
Big 4 will pay a premium for a MAC holder because of the requirements for CPA. Why pay some kid as much out of school if they will have to leave the job to get their 150 hours of school as opposed to the kid that already has their 150? MAC pay will be higher.
Toronto the offers were 42000 without a summer, 45000 with one (roughly)... this was pretty standard across my friends, went as high as 48k for someone with 2 summers.
45-55k depending on the city
Yeah, and not much in bonus.
i.e. complete shit.
audit/tax/fsa/tas - 55k for 1st year staff in both chi + ny
signing bonus - 2-3k
they don't really care whether you have masters or not, you just need to meet the 150 hour requirement
and no, they do not pay higher if you have a masters of accy (at least none of my friends did)
Oh yeah, forgot to say that Big 4 actually pay about 35-45k in Montreal...this from friends taking summer jobs there now.
Prop's correct. I've seen sign on bonuses of up to 4k though. They don't in fact pay you any more for the masters though, although they cover the cost of the cpa.
work hard now so you dont get stuck in accounting
You guys are all wrong, you should know that the Big 4 is way too backwater for paychecks. I heard they pay you about 22 bushels of corn a year. They might even give you a horse as a signing bonus if they really like you.
Deloitte and PwC are paying $55k with $5k sign on and another $3k if you earn your CPA within 18 months- at least that's what it is for Boston/Hartford/Stamford/NYC. That is for tax/audit; not sure what transactions services pays.
Now, $60k might not be much in NYC or Boston, but in Hartford or a city like that, it's pretty good compensation considering you only work 45-50 hours normal weeks and 60-65 during busy season
As per my friend starting at KPMG - 60k (NYC,Audit) not sure the sign on
That's surprising, as they weren't offering that in salary in recent years past. Must be hoping to rachet up recruiting.
"60-65 hrs during busy season"
This is low-ballin it. Although it's only 3 mos. during the year, depending on the engagement and size of your audit team, you can easily average 70-80 hrs p/wk. And for anyone thinking about doin a MAcc / MSA program, keep in mind if you're wanting to stay in acctg you have to get your CPA in order to be promoted to manager.
For Transaction Services or a similar higher margin group in NYC, you'll start out earning about 10% more and can hit 100K in 3 or 4 years. However, the pay progression from there isn't anything special until you hit partner.
$55,000 + $5,000 sign on + year end bonus (who knows) in Chicago at a Big 4
BTW, someone said you are going to go second rate without some sort of masters (MBAA or MPA essentially); that statement is untrue. I think they just want the 150. I had an offer with 150 hours from my double major in finance and accounting. That was good enough to get the offer.
For what it's worth. I'd rather do accounting for two years, do the MBA thing, adn then go Ibanking (if that is what you want to do).
Then again, I turned down both (also had a top 5 ibanking offer) to go to law school Fall 2008. So take my opinion (the facts are true) for what its worth.
houston was about 50K with 5K sign on and under 3K bonus at year end. And the 60-80 hrs (depending on client) during busy season sucks. though its not banking hours, auditors dont get compensated for that extra over-time.
Last I heard for PwC in London was £27k with no sign-on (but option to take out a £7k interest free loan). That was for those starting in 2007 (correct at least for audit and tax).
"It is a fine thing to be out on the hills alone. A man can hardly be a beast or a fool alone on a great mountain." - Francis Kilvert (1840-1879)
"Ce serait bien plus beau si je pouvais le dire à quelqu'un." - Samivel
"For what it's worth. I'd rather do accounting for two years, do the MBA thing, adn then go Ibanking (if that is what you want to do)."
Why in the world would you want to do this? Have you ever worked in public acctg? Talk about unchallenging work and not enough to go around. If you want to get into banking, why the heck wouldn't you get in as early as possible?
Nd the reason they want the Macc/MSA is b/c most of these kids have passed the CPA before starting work.
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