Honestly, I believe that the timesheet culture is a hindrance to professional development. When a partner or manager comes up with a project, there is usually a budgeted time based off of previous year’s work. That new staff person is under pressure to get the job done based on how long it “should take” vs. taking the time to learn how to get the job done right the first time.

In addition, part of that person’s “bonus” (I would argue that it’s compensation held back) may be tied to the amount of billable output. For a professional in their infancy, it may discourage them from taking CPE, prolong getting their Masters degree or delaying other professional development in order to meet their billable hours goal.

I also want to echo what I think is common consensus here that it’s quality of the work, not quantity that should be emphasized. The first few years of a professional are critical and should be spent learning, not just how to get the job done in the least amount of time.

I think the public accounting firm has to realize that the majority of their investment is in improving the knowledge stored in the minds of their professionals. They should highly regard this investment, as rebuilding this knowledge base frequently is costly.

When your main investment is in the mind of a person, you hate to see your investments walk out the door after two or three years (as soon as they have a certificate and they can sell their knowledge and certification to someone else). This is the cause of mass exodous.

Young professinals would rather sell their knowledge and certification in the private sector than sell their time in the public sector.