Saw the comment below on FT on this article "Big Four accounting firms urged to pay junior auditors more" (://t.com/content/f38ff331-18a6-4701-a87f-42561969a9f9)
True? what are your thoughts?
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A public firm auditor role for a newly minted graduate is one of the worst deals ever. The work is around 75% as stressful as that of a lawyer or a banker or a consultant but the pay is probably around 40% (at best) of these. To make it worse, it's mundane and not highly regarded- even though it should be- relative to their lawyer or banker or consultant peers. The transferrable skills gained post qualification are less than those for these and even post qualification the salary bump is not really substantial and the delta between bankers and consultants and lawyers just grows as the years go by, unless you make Partner. And this is the carrot dangled in front of donkeys which only 5% or so will get to eat- the rest are being deliberately egged on as cheap labour for the enrichment of the partners.
The business model absolutely sucks in Big 4. Graduates in the US cottoned on to this now and there is a huge dearth of them going into public accounting. It's shameful how the public accounting firms reward their staff until and unless they become partner, but if you let them do this then you can't blame them trying to do this. Go and become a banker or consultant.
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