The most recent Beta Alpha Psi conference occurred this past weekend in Los Angeles, California. The topics were very similar to prior years; Work/Life Balance, Your First Year in Public Accounting, and From Student to Professional. I’ve heard all of these topics before, but the last time I have heard them was about six months ago. I always paid attention to what was said in the meetings, but never used my own thought process to analyze the presenter’s words. I assumed that since the presenters were successful partners at major firms, what they said was true. This time was different. Between the August conference and this past weekend I started working at Mark Bailey and Company. Their viewpoints are much different that the “Big Four’s” viewpoints. They really do believe in Work/Life Balance; a major topic perplexing the accounting profession lately.
I sat through the conference listening to presenters talk about how great the “Big Four” are. Each presenter explained that we (BAP members) are the best of the best, and should all strive to get positions at one of the “Big Four.” They all said that 60 hour work weeks are normal during busy season. After saying that, they continue to say how the “Big Four” believe in Work/Life Balance. One 2nd year staff accountant said, “They even understand that I need to be off work by 8:00pm on Sunday so I can play softball.”
All of these remarks made me think, what is so great about the “Big Four?” Is this something that I really want in my life? My answer is no. It’s not for me. I value my family life and my friends. I want to be successful, and I know I will be. I do not need to work at a “Big Four” firm in order to be successful. I have been interning at different accounting firms for over a year. I know what I want, and what I do not want. I feel bad for the students that haven’t had the opportunity to intern at a firm. They are getting pushed into believing that the only way to be successful is to work for a “Big Four” firm.
Why is there such a push for students to work for a “Big Four” firm? Many people argue that the training at a “Big Four” firm is better than that of a smaller firm. Yes, the training is very structured and intense, but I believe first year staff accountants can obtain wonderful training at smaller firms. I’ve seen it, and been through it. People also argue that you should simply work for a “Big Four” firm for name recognition. Being able to put one of the “Big Four” names on your resume is great. But, is it really worth the torture you will have to endure for the several years you work there? Are the 60 hour work weeks worth it? If you plan on staying in the city you plan to work in, then there is nothing wrong with working for a smaller firm. Chances are that people in the city will know the smaller firm just as well as one of the “Big Four.”
I think that professionals push students towards the “Big Four” simply because they had to do it. They think that if they had to put in 60+ hour work weeks then young professionals should have to as well. My father is an example of this type of mentality. He is a very successful (now retired) CPA. He tells me that I should work for a “Big Four” firm. He tells me that to be successful in life, you have to put work before family; you cannot have both. The youth of today have to change that type of thought process. We need to let people know that success does not equal being employed by the “Big Four.” Life is about more than just work.
Being a recent graduate and BAP member, I remember these pushes from all of the University professors. I honestly think that most of them don’t know much about the firms outside of the Big Four, and the Big Four is probably the most dominant influence in placement for graduating accountants (as far as the university is concerned).
Even at smaller firms, being driven by the billable hour produces the same work/work balance mentality. The only firms that I have heard or read about that actually have balance are those that have changed their business model to value based services.
Comment by Shane — February 18, 2008 @ 10:41 am
I’m a little late (or maybe a lot late) here, but I followed Shane over from his blog and just read this. I’m a senior accounting major that is also in BAP and receiving constant encouragement to go Big 4 (or at least one of a few big regional firms). I’m a convert from computer science that still has a CS minor and I’m not 100% sure that I even want to get my CPA and jump into public accounting. I’m currently looking at several smaller non-CPA financial services firms that deal with tax software as well as a few private sector corporations. However, when I tell my advisor/professors/fellow students this, I get looks of sympathy and amazement. It appears they think the Big 4 the only feasible option, and that I’m doomed.
I feel that some of the “Big 4 or bust” attitude can be attributed to the Big 4’s attempt to curtail the private sector’s increased success in college recruiting. At different career fairs and through visiting with various recruiters, it seems like the Big 4 recognizes this issue, althought they do their best not to show it. In addition, many of my fellow students are very impressionable and the Big 4 definitely have the opportunities to instill this attitude into their minds, whether through career fairs or presentations in BAP and such. This carries over into the competition between the Big 4 and smaller CPA firms as well.
I’m rather saddened that this is the case, as there are so many positions/careers that accounting majors can pursure, with only a handful of them at a Big 4 firm. The trend in the business world of maintaining a work/life balance and taking care of employees in ways other than straight monetary compensation hasn’t hit the Big 4 quite yet, and until it does I’m not so sure the “broad experience and access to resources” they can offer is worth it for a recent graduate.
Comment by Logan — April 21, 2008 @ 12:12 pm