Tuesday, May 15, 2012

Big 4 Firings, My Post Big 4 Life and the Failed Merger

Hey guys, its the Accountant here.  Its been a while guys! =) 

Big 4 Firings

First off, Big 4 firings.  I'm pretty pissed off at Big 4 firms that have blantantly lied to people to get them to stay during busy season and fire them once its all over.  There has been numerous Big 4 firings post busy season from Deloitte, Ernst & Young, KPMG, and Pricewaterhouse coopers. 

Here are some of the activity that firms have been doing lately.

a) Lie to Repeat UFE writers in 2011 that they will get a second chance after busy season and then fire them. *cough Deloitte*
b)  Fire them for trying to acheive work life balance even if they are working 60 hour work weeks during busy season.
c) Fire people when they are 1-2 months away from getting their CA.  *cough Deloitte*, *cough GTA Deloitte*
d) Fire juniors, intermediates, seniors, managers, senior managers if they are slightly underperforming.  No one is safe.

The truth is everyone is expendable.  No one is safe.  One bad performance, One partner you piss off, and your axed just like that.  I've talked to a top performing manager for 5 years, have an arm accident where he was out for 1 month, and he got axed.  If you deny this fundamental truth, you probably are too far along brainwashed into the Big 4 system. 

My Post Big 4 Life

I am officially Ex - Big 4.  I left as a Senior 2 (6 months away from my manager promotion) and also coincidentally just after I got my CA.

The last month I can say has been one of the happiest months in my live.  I've accomplished so much personally and professionally in just one month, then I did in a year under Big 4.  Ultimately, lots of people ask me if you were a University student again and would you go the CA route again., I will answer ernestly from my heart No.   I am grateful for what I learned, but ultimately, Big 4 wasn't a good fit for me, and it wasn't what made me happy.
  
If you put me back as a 19 year old, after completing my first term under Big 4, I would quit and not look back.  I followed rationality (It's a good job, It's worth completing, I worked so hard already) versus what my heart told me and what would ultimately make me happy. ( I don't like it here, I really don't think it will get better, I want to explore and do other jobs.)     

I also advise students who have done just one or two coop terms and decided that its not for them to follow their heart.  Ignore the people who tell you, "you'll regret it, its such a great job and everyone has to pay their dues"  You will only end up resenting yourself if you have the opportunity and don't seize it.  I encourage you to explore other jobs out there.  You will definitely find jobs you do like and jobs you don't like, but if I were in university again, I would do different coop jobs and explore and see what I truly wanted to do. 

Do not follow the herd.  Follow your heart.  It sounds cliche, but after seeing the emotional breakdowns of several of my colleagues, and close friends, this is valuable valuable advice. 

With that said, I defeinitely met tons of awesome people and close friends at Big 4.  I will miss them dearly, but its time for me to move on. 

My thoughts on the CA merger

Today the CMA and CGA pulled out of the CPA merger, and wtf is CA Doing?? Trying to merge with themselves now?

This merger is ridiculous and a waste of our membership fees.  I am a strong opponent against the merger, and wish we can just put an end to this.  The ICAO needs to really start listening to its members, who you guys represent, and stop trying to run the show for your own personal agenda and personal gains. 


Best regards,

The Accountant





 

 

8 comments:

  1. I truely agree with you wrt to the facts you've written about the Big 4

    Big 4's appear to be appealing from the outside but sadly no-one is happy after joining the Big 4. I can feel this as I myself belong to the Big 4 and left it to pursue other things in life

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  2. Your such a hypocrite. Got your CA on their dime, and now you discourage people from doing the same. Ohh and FYI firings happen in capital markets and people lie all the time. Grow the fuck up and understand how the real world works. Sounds like you could not cut it out in the Big 4. Have some class and be thankful for you you learnt. Now good luck with your awesome IA job or analyst position where you will work 9-5 your whole life and make 100K. Ohh and did I mention if you didnt have that big 4 experience, you likely would be working a shitter job.

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  3. Sorta gonna agree with poster #2 here. You seem to be one thankless person who basically will use the experience, be the first to point it out on your resume, and then turn around and tell everyone how crappy big 4 is. Seriously, if all you have is a CA, i doubt your going to do anything substansial in your career. Not to be rude, but I would seriously encourage you to do a CFA or an MBA.

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  4. Big 4 is hell. The minute you get your CA, you should GTFO. I wonder if the two posters above have any Big 4 experience at all.

    I've worked in Big 4 for 5 years and I've seen people on the verge of commiting suicide. Its that Fking bad. The OP is just trying to advise students to know what their getting into before they do which is not wrong.

    He also mentioned hes thankful for the Big 4 experience, but if he could do it again, he would not. To be honest, Big 4 is what it is.

    If your ambition is a 75K-100K job for the rest of your life doing something you don't like like an analyst, or internal auditor, then get your CA.

    If you have a little bit more ambition, get your CA and GTFO as fast as you can.

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  5. Big 4 is hell. The minute you get your CA, you should GTFO. I wonder if the two posters above have any Big 4 experience at all.

    I've worked in Big 4 for 5 years and I've seen people on the verge of commiting suicide. Its that Fking bad. The OP is just trying to advise students to know what their getting into before they do which is not wrong.

    He also mentioned hes thankful for the Big 4 experience, but if he could do it again, he would not. To be honest, Big 4 is what it is.

    If your ambition is a 75K-100K job for the rest of your life doing something you don't like like an analyst, or internal auditor, then get your CA.

    If you have a little bit more ambition, get your CA and GTFO as fast as you can.

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  6. Hey,

    I'm currently in a CA student doing my coop terms in a Big 4 and I always have the same thoughts (I don't like it here, I really don't think it will get better, I want to explore and do other jobs.)

    I have a few questions:
    1) where are you now?
    2) how difficult is it to obtain a new position that is NOT-accounting related (ex. I want to switch to a job in finance but my coworkers say it's better to wait after getting a CA...)

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  7. In one of the author's blogs he mentioned that he would do CA regardless (http://www.iwanttobeaca.com/2009/04/ca-cma-or-cga-designation.html), but I guess he has changed his mind?

    To J:
    I think working at a medium-sized CA firm might not be bad..you could try that out first and then see if you want to change your career path.

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  8. Thanks for this blog post, I needed some confirmation.

    I'm also a current CA student... I completed a co-op term at a Big 4 earlier this year and decided to not return.

    It was a very tough decision. As you can imagine, everyone I talked to thought I was nuts for wanting to give it up. Continuing with the Big 4 would mean financial security, but I know I would be miserable. During my co-op term I became severely depressed. So ultimately it came down to what I decided was more important: money or happiness.

    I know I'm plunging into the unknown by leaving the Big 4 before obtaining my CA, but I've been ignoring my personal happiness for so long and can't take it anymore. I'm willing to take the risk.

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