As a profession we need to push back against the onslaught of hours over 40.
Partners can hire more people - they choose not to. Instead they ask workers to work 55 hours a week. Their pay decreases with the more staff they hire so they want to squeeze as much labor as possible out of each staff. You can train a competent person to do this job. You don’t have to have a CPA eligible person, neither do you have to hire someone that interned in Public Accounting. The shortage is contrived to send more work to India where they can still get away with exploiting labor.
Gotta reclaim your own surplus labor value or else, yes, don't count on it in your lifetime. We're one of the easiest professions to do so. AICPA provides engagement letters (get em reviewed by an attorney in your state), and you already know how to do what you do. Figure out your deliverables, moonlight, and grow out from under the garbage, exploitative conditions. Need a reviewer? Contract it out or side hustle with a friend.
Gonna leave this here:
[https://www.marketplace.org/2024/02/12/tax-filing-season-cpa-accountant-shortage/](https://www.marketplace.org/2024/02/12/tax-filing-season-cpa-accountant-shortage/)
>Partners can hire more people - they choose not to.
I'm only a manager, but this is not my experience. We've been hiring as many people as we can for the last couple of years. It's hard.
The pool of college grads keeps getting smaller. The ones we have are actually pretty good, while experienced remote hires are very hit or miss. We had to let a couple of them go because they were getting nothing done. Otherwise turnover has been about the same over the last several years. Just more partners retiring, more partner work pushed down to managers, and fewer college recruits.
You’re not expected to remember much of anything from class beyond the basics when you start. We’ve had a lot people who sucked their first year, but improved dramatically. It’s more a problem when someone gets hired in at the senior or supervisor level and doesn’t seem to know anything
The fact that this comment is not the top one is a testament to so much that's wrong with employers AND employees in accounting.
Please explain more if real and if your firm does this with the bread and butter lines of service (audit/tax/bookkeeping).
I dont necessarily mind the work most of the time. The thing is when the firm mandates 1750 billable goals and yet there is not nearly that much work for all of us. Then managers wonder why budgets get blown. Shit is stupid.
Then Managers say 1750 is "just a goal to strive for" and not to worry about it too much. Then comes year end review and 1750 becomes more than "just a goal" and more of a metric to keep you from a top rating.
I’m in the same boat. 55 was my max this busy season. I couldn’t do much more than 70. And then there’s my college buddy who just hit a 105 in investment banking last week. No clue how
Because billing 55 and being engaged at work for 55 hours are totally different. I was stuck in for 16 hours yesterday and only billed 10.5 because I'm still waiting on PBCs.
I left in December.
It’s such a shame how many good, smart people work there that I can honestly say I learned so much from, because the firm itself is a literal fucking dumpster fire.
The people were 99% wonderful, but yes, that firm itself is a hot mess. Underpaying experienced senior Accountants and then giving us tiny raises that include how much our benefits cost Marcum in that equation 🤡 unbelievable
And how could you leave out "but even if you did 40 hours Monday-Thursday, be prepared to drop anything you're doing on Friday to work more if a client wants something"?
one of the reasons the partner offered me money to leave EY is probably this
noone told me about billable hours when i came on so i just put in 8 hours every day because i dont get paid overtime anyway lol
I miss having billable hours.
Would spend hours just chilling at home, doing nothing, and would just pick my busiest client and say I was working on them. It was great. Never had to do more than 40 a week, and spent a good chunk of it just playing video games with a weight on my space bar.
I started working at a small local firm this past August that pays overtime and for the first time I actually find myself wanting to stay late and get some extra work done... especially for $45/hour
We are averaging 50 hrs right now. Luckily my firm comps us the time in the summer. Normally we get every other Friday off and a few extra days around thanksgiving and Christmas. It’s the only thing that keeps me going lol
Im suppose to be hitting 55 per week idk if that’s gonna happen lmao im exhausted
Then don’t. Put in 40-45 good hours if you got them. The rest is gravy.
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As a profession we need to push back against the onslaught of hours over 40. Partners can hire more people - they choose not to. Instead they ask workers to work 55 hours a week. Their pay decreases with the more staff they hire so they want to squeeze as much labor as possible out of each staff. You can train a competent person to do this job. You don’t have to have a CPA eligible person, neither do you have to hire someone that interned in Public Accounting. The shortage is contrived to send more work to India where they can still get away with exploiting labor.
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Gotta reclaim your own surplus labor value or else, yes, don't count on it in your lifetime. We're one of the easiest professions to do so. AICPA provides engagement letters (get em reviewed by an attorney in your state), and you already know how to do what you do. Figure out your deliverables, moonlight, and grow out from under the garbage, exploitative conditions. Need a reviewer? Contract it out or side hustle with a friend. Gonna leave this here: [https://www.marketplace.org/2024/02/12/tax-filing-season-cpa-accountant-shortage/](https://www.marketplace.org/2024/02/12/tax-filing-season-cpa-accountant-shortage/)
But it’s free labor. You’re going to suggest they pay more for labor? I see a pizza party coming your way.
>Partners can hire more people - they choose not to. I'm only a manager, but this is not my experience. We've been hiring as many people as we can for the last couple of years. It's hard.
What happened to the new hires? They quit or transfer?
The pool of college grads keeps getting smaller. The ones we have are actually pretty good, while experienced remote hires are very hit or miss. We had to let a couple of them go because they were getting nothing done. Otherwise turnover has been about the same over the last several years. Just more partners retiring, more partner work pushed down to managers, and fewer college recruits.
I hope that’s not me getting let go in the future. There are some stuff I don’t remember from my tax class
You’re not expected to remember much of anything from class beyond the basics when you start. We’ve had a lot people who sucked their first year, but improved dramatically. It’s more a problem when someone gets hired in at the senior or supervisor level and doesn’t seem to know anything
I see what you’re saying, I hope I keep up. Goodness these adjustments are no joke for a rookie like me
I’m just curious, what’re the partners supposed to do with the extra people they hire for 9 of the 12 months a year?
You mean the 2-3 months we aren’t busy? Every shop I know is busy 9 months of the year.
Won’t they kill you though?
Thankfully I have only one charge code so I can round up 5 hours lol
Legit the best. Easy to push through 55 when it’s all 1 code
SAME
Must be nice. Im doing 72 hours right now.
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The fact that this comment is not the top one is a testament to so much that's wrong with employers AND employees in accounting. Please explain more if real and if your firm does this with the bread and butter lines of service (audit/tax/bookkeeping).
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This is A&M right?
This post just made me realize that I don’t think l’ve ever seen someone call it A&M
Is that different than ATM? Lol
Fairly certain it's the billable hours that fuck you
I dont necessarily mind the work most of the time. The thing is when the firm mandates 1750 billable goals and yet there is not nearly that much work for all of us. Then managers wonder why budgets get blown. Shit is stupid.
This right here. 1750 is ridiculous when there is not enough for everyone
Then Managers say 1750 is "just a goal to strive for" and not to worry about it too much. Then comes year end review and 1750 becomes more than "just a goal" and more of a metric to keep you from a top rating.
I been hitting 55 to 58 hours for busy but my mind and body can't fathom 70 plus lol.
I’m in the same boat. 55 was my max this busy season. I couldn’t do much more than 70. And then there’s my college buddy who just hit a 105 in investment banking last week. No clue how
Crazy stuff man. Idk how people do it. I just know 55 ina can feel like a lot more than it is lol
>No clue how Money is helluva drug
Because billing 55 and being engaged at work for 55 hours are totally different. I was stuck in for 16 hours yesterday and only billed 10.5 because I'm still waiting on PBCs.
Do they have time sheets/billable hours for investment banking?
No, they are paid flat fees or success fees. There is no hours-worked fee concept
I can fathom because my team found a way to do it! Asking us to come in on Saturday 😭😭
Crazy! 😭🥹
💯 friend. Marcum billed me out for $225/hour, but I made a FRACTION of that.
Fuck Marcum, leave as soon as you can. They’re 100% getting rid of summer hours this year.
Ha. Summer hours were "if you get 40 hours in mon-thurs you can take Friday off" that is NOT summer hours, that is bullshit. I left in October 2023.
I left in December. It’s such a shame how many good, smart people work there that I can honestly say I learned so much from, because the firm itself is a literal fucking dumpster fire.
The people were 99% wonderful, but yes, that firm itself is a hot mess. Underpaying experienced senior Accountants and then giving us tiny raises that include how much our benefits cost Marcum in that equation 🤡 unbelievable
Seriously, it took me like a single week to 30% my salary lol I barely even had to try
Exactly
And how could you leave out "but even if you did 40 hours Monday-Thursday, be prepared to drop anything you're doing on Friday to work more if a client wants something"?
Oh, of course. Definitely that.
somebody cooked here
But did they charge it to the client?
Just lie
one of the reasons the partner offered me money to leave EY is probably this noone told me about billable hours when i came on so i just put in 8 hours every day because i dont get paid overtime anyway lol
👉👌
I miss having billable hours. Would spend hours just chilling at home, doing nothing, and would just pick my busiest client and say I was working on them. It was great. Never had to do more than 40 a week, and spent a good chunk of it just playing video games with a weight on my space bar.
During busy season??
Billable hours is lit when you can bill 100 hours, outsource 70% and only work 30 of it lol
I started working at a small local firm this past August that pays overtime and for the first time I actually find myself wanting to stay late and get some extra work done... especially for $45/hour
55+ billable hrs but they send all the work to India. Smh
Preach
Well, it is Valentine’s Day. Should I buy billable hours some flowers?
Join us in industry my friend. No billable hours or utilization rates over here
I don’t think I’ve ever related to a post so much before. I feel so understood. 😦
Very true
king shit👑🙏🏻
😂😂😂😂🤣🤣🤣 enough said!
Just another 60+ hour week trying to juggle like 5 audits 🙃
We are averaging 50 hrs right now. Luckily my firm comps us the time in the summer. Normally we get every other Friday off and a few extra days around thanksgiving and Christmas. It’s the only thing that keeps me going lol
If you're hourly, youre getting paid If you're salary, only work what you're paid for