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Depends what you mean. Starting salary at the Big 4 in NYC is low six figures (~$100-120k plus bonus) for graduate degrees. That's doable before you're 30.
Depends what you mean. Starting salary at the Big 4 in NYC is low six figures (~$100-120k plus bonus) for graduate degrees. That's doable before you're 30.
Really? A regular audit manager makes anywhere between 90k-110k at a big four. I have lots of friends with graduate degrees from top schools that went to the big 4 straight out of college and were paid about 60k starting. Graduate degrees commands only about a 3-5k premium at big fours. Usually to make manager it takes about 4/5 years. By 30 with 7/8 years of experience + CPA you should be a boarder line senior manager taking home about 140k total. And if you don't have enough people skills by then to bring in business it's time to leave because you won't break 200k without making partner.
Really? A regular audit manager makes anywhere between 90k-110k at a big four. I have lots of friends with graduate degrees from top schools that went to the big 4 straight out of college and were paid about 60k starting. Graduate degrees commands only about a 3-5k premium at big fours. Usually to make manager it takes about 4/5 years. By 30 with 7/8 years of experience + CPA you should be a boarder line senior manager taking home about 140k total. And if you don't have enough people skills by then to bring in business it's time to leave because you won't break 200k without making partner.
My friends have the same experience. Not worth it, crazy hours during busy season and treated poorly. Big 4 has manufacturing mentality. They don't expect you to stay around for long, continue rinse and repeat with a new batch of recruits from universities.
In addition, becoming partner at a big 4 is not prestigious. Most leave to start their own firms in order to make any real money. You can be a back office monkey at a bank who pushes paper all day and attend boring meetings for 1/10 the work and receive better pay.
OP- Please see Accounting industry blog. Link: Going Concern
These salaries are pretty high. Are these all related to internal auditing? And what about non-Big 4 and non-public accounting?
I think salaries will vary a lot then. You need to put some context into what field you're doing internal audit for. In finance which would require you to have knowledge of some financial products you might get paid more. Outside of finance you might not get to 100k even after 8 years. I'm not in the field so hopefully someone else can give you more information. I just have friends in the field and know roughly what they make. All I know is if you want a chance at big money in the field go to an iBank or top asset manager.
My friends have the same experience. Not worth it, crazy hours during busy season and treated poorly. Big 4 has manufacturing mentality. They don't expect you to stay around for long, continue rinse and repeat with a new batch of recruits from universities.
In addition, becoming partner at a big 4 is not prestigious. Most leave to start their own firms in order to make any real money. You can be a back office monkey at a bank who pushes paper all day and attend boring meetings for 1/10 the work and receive better pay.
OP- Please see Accounting industry blog. Link: Going Concern
Agreed a lot of people that I know there hated it. Unless you really click with your boss they treat you all as replacement parts waiting to be swapped out. Though depending on the firm/manager you can get comp days to make up the OT which they don't pay for generally. And bonuses for the first 3-5 years is only enough for a cheap vacation. On the other hand if you travel for work a lot then you accrue lots of air miles.
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