Do you all feel New York is worth it if you´re working insane hours? (2013, find a job)
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Do not work so many hours that you can't get enough sleep, whether you're getting a good salary or not. The depression and health problems that come from sleep deprivation aren't worth it. I worked 14-hour days, plus a 1-hour commute each way, during my early 20s in the finance industry. My salary wasn't enough to enable me to live closer, or eat better. You won't have it as bad as I did (I made about $30k, in 2000), but you'll stil be living far from work. The commuting was what made it pure misery -- had I lived right next to the office, it would have been bearable. Something tells me that in Chicago you could afford to live within walking distance of your office, whereas in NY that's impossible. Don't sacrifice your health!
A friend of mine recently decided to move to New York working in one of the "Big 4" accounting firms.
Now if any of you all are familiar with public accounting, it requires that one work EXTREMELY long hours.
Busy season from Jan - Mar is about 70 - 80 hours a week and, for him, the rest of the year is typically around 50 hours a week. Here in Chicago, it´s a little better at 60 - 70 hours a week during busy season and 40 hours non-busy season (it obviously depends on your client but that seems to be the norm, I´ve noticed. Although I could well be wrong).
I too will be working at a Big 4 firm in the near future. Now while the idea of living in New York sounds exciting to me, I just wonder if living in New York when you´re working that many hours would be worth the high cost of living? The firm pays the same salary in both Chicago and New York at around $56,000 a year.
Would you even be able to see much of the city since you´d be working so much?
Plus, I´m hesitant because Chicago isn´t a bad city either and seems more similar than dissimilar to New York (good 24hr public transit, more restaurants than you could ever need, diverse population, etc.) but it´s so much more affordable than New York. I´ve just been flip-flopping on this issue and wonder what you all think.
You answered your own question . If the salary in Chicago is the same as NY and you're working 10 hrs less a week, then imo, it's not worth moving to NYC.
I wonder if these newbies into the job market actually know they are being lowballed in salary offerings? I made nearly double that over 25 years ago working in the WTC as an entry level Actuary.
Almost all professional service / consulting jobs will have that "busy" time where you work 60+hours per a week for some amount of time per a year. Its the nature of the beast regardless of where you live. I think it comes down to which city you want to experience.
Not worth it unless you are young and single and are looking to gain some real world experience after college. 56,000 dollars a year in most parts of America would be considered a decent salary, in New York City you would be poor
The salaries offered in entry level corporate New York seem to keep getting worse and worse (generally speaking) compared to the COL. Unless you work in finance or a few select areas. I was offered 18K for a full time C level admin position back in the middle of the recession, also $9 an hour on Wall Street for a white collar criminal defense attorney to review murder evidence, 28K to trade collateralized debt in the millions. Reason they all have me was I could get experience. That makes sense in a college internship, not in real life in a city as expensive as New York. Actually made me sick. You basically, most times, are running on a hamster wheel being fed lies about mobility. Unless you are in a white shoe, posh gig you got through education/connections or you are in business for yourself I'd probably steer clear at this point. You will be working very hard with little to show for it, except that you live in New York. For 95+% of people it is a losing proposition.
Last edited by EastBoundandDownChick; 05-01-2013 at 12:15 AM..
I wonder if these newbies into the job market actually know they are being lowballed in salary offerings? I made nearly double that over 25 years ago working in the WTC as an entry level Actuary.
No, they're not.
First off, I don't see anywhere that they mention they already hold a CPA license.
Wages might have remained stagnant but what they're being offered is the STANDARD entry-level salary for accounting majors fresh off school.
Most likely these kids don't have the auditing experience needed to qualify to for a CPA license.
My wife works for a mid-sized accounting firm and the starting salary was the same as that of the big 4 (minus the year-around crazy hrs)
A seasoned auditor holding a CPA license working for an accounting company makes upwards of 75k.
The link you posted could include independent CPAs that have their own practice and clientele. Not sure, that would be an accurate picture if you're at looking salaried employees.
Btw LMAO at you making over 100k 25yrs ago, as an entry-level actuary. Not even your own mother would believe that lie.
Last edited by likeminas; 05-01-2013 at 06:56 AM..
I thought the big 4 accounting firms just signed off on the corporate paperwork without actually having to read any of it.
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. If the salary in Chicago is the same as NY and you're working 10 hrs less a week, then imo, it's not worth moving to NYC.
