Quote:
Originally Posted by Unregistered
Been reading this thread for a very long time. But I'm not from Big4 or even finance related industry.
It seems like some industries have this situation?
- Boomers and old Gen X promoting fast in the past and now occupying higher positions
- Boomers and old Gen X cannot promote any higher, refuse to resign or budge and choose to coast in their current position
- Work gets thrown down to new hires to fulfill KPI of higher positions
- Starting salary and progressive increments not keeping up with inflation
- Promotion of new hires getting delayed and slowed down
- Waves of resignations occurring only at the lower positions (those with 10 YOE or less) while the higher positions keep remaining the same
- Fewer and fewer headcount at the lower positions (to save labour cost), causing overwork for the remaining youngsters and a continuous death spiral of resignations
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Not all of the above applies to audit. But yes the last point is probably the most valid, contributing to that is the increasing requirements, and brain drain of accountancy to other sectors which are better perceived, just becomes a vicious cycle cause by the time the industry responds its usually too late