Senior manager at Big Four: 6 figures plus income. AMA

[imajoey]

Doing an accounting internship at big 4 currently and i fuking hate it. Counting down weeks til it's done

[OnePostPony]

[img] imgur. com/Kdf3TGo.jpg[/img]

lol aware

[alcartwright]

Family has more money than you. Don't need to work = same money. Don't need to make a bragging thread. Also degree from top school. Smd

Have fun working big4 accounting. Sorry you didn't have what it took for MBB consulting, I-Banking, Actuarial Consulting, Engineering, or Comp Sci.

Also strong living in a $1M house making 230k a year driving a 70k car. Budget of peace.

I didn't come here to measure family wealth with you. My family does alright. I don't measure my self worth by my family's wealth.

[Frank Drebin]

sounds like op. took on a million dollar mortgage and buys expensive cars has to work for his money everyday instead of having his money work for him. hes probs gonna die behind his desk at age 70. lel

Well, to be fair, how else are you going to let people know how successful you are if your stay at home wife doesn't drive a 100k car? LMFAO at this guy. Absolute slave to his job.

[away]

What city are you in OP?
How is your group structured? Are you split up by industry / clients? What's the hierarchy like?

[aestheticsrus]

lmao if you don't make seven figures

[ADHDave]

which firm do you work for?

if you were 21 and could choose to start your career at any of the big 4 which would it be/why?

[Steak_n_Taters]

1st 3 years = way below market rate
4th year = slightly above market rate (big jump which is why these guys think they have lots of money)
year 5 = little bit better than year 4

Ok so what's the market rate? Just give me a ballpark. You know what I'm asking for.

[mcdojo]

Why is it so hard for you to believe that I love what I do? A lot of guys on this forum work for oil drilling companies. They go to chit places like North Dakota for months at a time, away from their families, they work their a$$ off in dirty oil fields carrying heavy chit left and right and they are absolutely stoked because they make 90 - 100K. I make over $200K working in a clean top of the line office eating lunch from CFOs from the most prominent fortune 500 companies on earth. Why do you think that I cant enjoy this?

With regards to your Big Four co-workers: we have a lot of exit opportunities. Those of us who can't make it in this industry leave for corporate and we become your boss. The rest of us keep moving on up. And yes, its not surprising that those who jumped to corporate hate the Big Four lifestyle. Its not for everyone. You have to be hungry.

tax is boring as shyt, and you are spending 55-95hrs A WEEK dealing with it. whats to like besides the $$$?

and you can try to make your meeting sound glamours, i've been in meetings for vice president of huge companies, at the end of the day you're discussing tax LOL

if you truly enjoy tax then i guess you're lucky, but for most people its super boring

[OnePostPony]

Why do you feel the need to live in a $1m+ home? You could literally have 2 rental properties and a home to live in... you're cutting years off your retirement not to mention all the money tied up in vehicles.

I will go as far and say you're cutting 10-15 years off your retirement by keeping up with the jones' instead of letting your money work for you.

I have a friend in a very similar situation to OP. They do it because they realise that being employed by someone else means they will never actually be wealthy and by having job security they rationalise the loss of their entrepreneurial spirit. People always struggle to live within their means and with no promise of future wealth (a rental property portfolio would grow very slowly on his income) it's just not worth the effort any more, why not just give in to consumer culture & collect your paycheck.

[Frank Drebin]

Post your W-2 with a spoon pic and I'll post mine.

GTFO, my ego isn't inflated, I am here giving my time in hopes that it motivates and helps others achieve in life. I have limited tolerance for haters. Lastly, my peers aren't jelly. My peers are doing just fine exceeding because we, as a social group, help bring each other up.

When you get to my level at 35, then I'll take your post serious.

"I don't have an inflated ego"

"When you get to my level at 35"

[OnePostPony]

if you truly enjoy tax then i guess you're lucky, but for most people its super boring

Maybe because of his manager level he enjoys it more, people I know at entry level are sick of managers handing them more and more work whilst never getting back to them with the details they actually need to do the work and then the managers complain about why it's not done.

[HammZ]

I have a friend in a very similar situation to OP. They do it because they realise that being employed by someone else means they will never actually be wealthy and by having job security they rationalise the loss of their entrepreneurial spirit. People always struggle to live within their means and with no promise of future wealth (a rental property portfolio would grow very slowly on his income) it's just not worth the effort any more, why not just give in to consumer culture & collect your paycheck.

I just bought up rental properties as an example but there is just no reason to be in debt with a salary like that if you're going the consumer culture way.

[Insanity_SC]

Post your W-2 with a spoon pic and I'll post mine.

GTFO, my ego isn't inflated, I am here giving my time in hopes that it motivates and helps others achieve in life. I have limited tolerance for haters. Lastly, my peers aren't jelly. My peers are doing just fine exceeding because we, as a social group, help bring each other up.

When you get to my level at 35, then I'll take your post serious.

your level? I made your total comp at 24 years old lol....in a job FAR more enjoyable with more perks.

Nothing wrong with a decent AMA thread about a decent job...but you came off swinging like a pretentious dbag and dishing on your poverty peers. Newsflash...my "team" at work consists of 30 guys aged 24-45 and the lowest pay is 180k and top is over a mil. None of them think they are god's gift to man.

[alcartwright]

What city?

Give a rough detail of your work schedule.

I have previously interned at Deloitte & had a grad offer from PwC - if I get either offer again for full time position, which would you recommend I take and why?

When do you plan to retire?

Any regrets in your career choices?

Work schedule: arrive at work around 9am, coffee, connect with partner on current projects and prospects, connect with my managers, seniors, and associates, mentor them, resolve issues; assign work. Head out to client meetings; review client meeting notes for opportunities. Review my managers work. Head out to Lakers game with Partner and my star performers.

I used to be at Deloitte. Great firm, great people. I would recommend you stick with PWC though. Huge impact on resume.

I plan to retire at 55 or 60.

[Steak_n_Taters]

your level? I made your total comp at 24 years old lol....in a job FAR more enjoyable with more perks.

Nothing wrong with a decent AMA thread about a decent job...but you came off swinging like a pretentious dbag and dishing on your poverty peers. Newsflash...my "team" at work consists of 30 guys aged 24-45 and the lowest pay is 180k and top is over a mil. None of them think they are god's gift to man.

B2B sales is GOAT

[alcartwright]

Why do you feel the need to live in a $1m+ home? You could literally have 2 rental properties and a home to live in... you're cutting years off your retirement not to mention all the money tied up in vehicles.

I will go as far and say you're cutting 10-15 years off your retirement by keeping up with the jones' instead of letting your money work for you.

I agree with your informed thought on this. Unfortunately, I live in Southern California. $1m is the entry level for a upper-middle class home.

I do have 2 smaller properties (condos) that I own and rent under two discrete Single Member Limited Liability Companies.

[HammZ]

I agree with your informed thought on this. Unfortunately, I live in Southern California. $1m is the entry level for a upper-middle class home.

I do have 2 smaller properties (condos) that I own and rent under two discrete Single Member Limited Liability Companies.

Fair enough, cost of living in the northeast is pretty high but not cali high. I just see a lot of people who's homes are liabilities rather than assets.

[wildchild11]

strong skipping my question

[Frank Drebin]

I agree with your informed thought on this. Unfortunately, I live in Southern California. $1m is the entry level for a upper-middle class home.

I do have 2 smaller properties (condos) that I own and rent under two discrete Single Member Limited Liability Companies.

I thought Socal was fuked for price:rent ratios, are you getting enough rent to cover your costs?

[alcartwright]

your level? I made your total comp at 24 years old lol....in a job FAR more enjoyable with more perks.

Nothing wrong with a decent AMA thread about a decent job...but you came off swinging like a pretentious dbag and dishing on your poverty peers. Newsflash...my "team" at work consists of 30 guys aged 24-45 and the lowest pay is 180k and top is over a mil. None of them think they are god's gift to man.

Not sure why you and I got into it this way. Look, you succeeded doing what you love. I am happy for you. I succeeded doing what I love. That's all.

No hate towards you. Keep doing what your doing and may you make 100x more.

[alcartwright]

I thought Socal was fuked for price:rent ratios, are you getting enough rent to cover your costs?

Just breaking even. I hope to go positive in 5 years.

[alcartwright]

What are the pros and cons of staying for extended periods of time at one job (and hoping to be chosen for promotion) versus job hopping for a bigger paycheck every 2 years?

The pros of staying for a long time is that you get to know everyone, the systems, and the firm very well. The cons of staying at the same place is that you poverty raises.

The pros of jumping around is that your pay goes up by insane amounts. The cons are that you have to establish yourself every time. In order to do this successfully, you have to be good at what you do and know your chit technically.

[fadetoblack1]

401k balance?

[themike101]

Ok so what's the market rate? Just give me a ballpark. You know what I'm asking for.

i'm not in the states but in europe:

1-3 = low 20ks
4 = probably 35-38k
5 = 43k

at 5-6 years you're a manager then senior manager would obviously pay more.

not really comparable to the states though because $ salaries are usually much higher

[kratosbrah]

where do you expect to be at 45 and why?

[alcartwright]

High 6.

[alcartwright]

Across the pond, in the US, in USD:

1-3 65K

4 75k - 95k

5 starting starting 105k (manager tops out at 145k

8 senior manager starting 150k

None of these figures factor bonus.

[hotsaucebrah]

If that makes you happy. No way I could be an office drone crunching numbers all day, to each their own. Good luck.

[alcartwright]

Managing director.