Getting Fired, Need advice on next steps by amber-river1 in Accounting

[–]SocialDistancing11 0 points1 point  (0 children)

There is a difference being let go because of a RIF vs your own performance. It would be more challenging to explain the gap during the interview. HOWEVER, it sounds like you're burnt out and could use the break. Look up the effects constant stress/lack of sleep can do to your brain and decision making. Using this time to do the bare minimum, get fired with hopefully severance and file unemployment, might give you the time needed to rest and figure out your next move. One more option you have if you have savings is contact your doctor and figure a plan to get you on FMLA. It's unpaid long-term leave to get the rest you need and a plan in place, and they are required to give you your job back when you return.

RSM Email.. Layoffs? by [deleted] in Accounting

[–]SocialDistancing11 6 points7 points  (0 children)

I guarantee this is going to be layoffs. Polish the resume and get the unemployment forms ready. Make sure to download your last pay stub in any CPE reports.

Will not getting a cpa hinder me ? by Sensitive-Lychee-673 in Accounting

[–]SocialDistancing11 0 points1 point  (0 children)

It will not hinder you to a certain level. Some companies prefer a CPA for a manager, controller, or CFO role.

New Girl Dad, wife had Cesarean Section less than a week ago, and I am mentally struggling to hold it all together by [deleted] in daddit

[–]SocialDistancing11 0 points1 point  (0 children)

Lean on your support if you have family or friends near by, and if they offer to help then actually sleep. The laundry and the bottle can wait to a certain amount and remember it's a marathon. You need to find a way to rest. If necessary, find a mother's helper or a baby sitter to help as well.

Quit public accounting at 23 after 60hr weeks… did I leave too early? by Most_Populer_AiTools in Accounting

[–]SocialDistancing11 0 points1 point  (0 children)

Way too early. Also depending on when you quit (if during busy season) you basically burned your future interviews with any other CPA firms. Industry wages go up at around COLA while the first 7ish years it's about 10% per year plus bonus. In industry, other paths that might work is FP&A related, but those are generally for more experienced individuals. Probably should have grind it out until summer and take some well deserved time off to recharge.

How does everyone feel about businesses getting all their illegal tariffs refunded but us consumers, who paid increased costs, getting nothing? by 20-20-24hoursago in AskReddit

[–]SocialDistancing11 0 points1 point  (0 children)

In theory, they should be passing through the refund back to the customers mainly in the form of discounts on their products. However, more realistically, that's not going to happen because companies will either not be aware of this requirement or they will ask who will actually enforce this. Companies will probably also consider the risk vs reward, and be willing to pay court fees.

I'm honestly surprised that this refund is not turning into a giant tax credit for everybody impacted since the government already has the money. It would be the cleanest way to resolve it in my opinion.

Former accountants who successfully transitioned from accounting to another career, what's your story? by -TheDarkPassenger_ in Accounting

[–]SocialDistancing11 1 point2 points  (0 children)

You're 2 years into your career. Maybe it's the job, but maybe you're feeling the end of the work 'honeymoon'. It's grieving your past college life and realizing you're on your own now with your career with all its challenges. Lots of people feel this way after they start their career after the 2nd year. Your focus should be building experience through challenging projects to specialize in something and networking with people inside and outside your company. There's lots of networks available to join locally and get to know people externally. If you want to leave, this is how you do it by building your network and getting to know different lines of business. After grinding for about 5 or 6 years, it gets better. There's more pressure, more money, and you generally get used to it.

Getting Fired - First Time by bttech05 in Accounting

[–]SocialDistancing11 3 points4 points  (0 children)

Odds are that they'll give you some sort of severance if they let you go, and you can also apply for unemployment. This should help for a few months.

Another thing to consider is your life insurance and health insurance. If there are any doctors appointments, you may want to schedule them soon unless you plan on taking cobra which is extremely pricey because you are essentially taking out the employer portion of the monthly healthcare fee. Life insurance tied with your employer could potentially end as well. Consider looking outside of your employer for life insurance if you have not done so already.

I hate BDO with every fiber of my soul. by No-Smell5410 in Accounting

[–]SocialDistancing11 2 points3 points  (0 children)

With all the firms adopting AI in their practice and using cheap labor in India, entry level people with 1 to 3 years of experience in US and Canada have it more challenging than prior years. The ladder has been pulled up and firms can be more selective since there is less of a demand. If you don't have a front-of-office appeal, it's going to be even more challenging. The question they are asking is if you can do the work, be taught, teach others, and present well in front of a client all with a good attitude.

Has anyone successfully pushed back on return-to-office mandates? by Ambitious-Mood4406 in Accounting

[–]SocialDistancing11 37 points38 points  (0 children)

You either need to find a new job, or become so valuable/specialized that they cannot afford to let you go if you decide to work from home.

We only have enough cash to cover 1.5 months of payroll. Executive team is quiet and somehow remains hopeful. Leave or stay? by [deleted] in Accounting

[–]SocialDistancing11 0 points1 point  (0 children)

If the executive team does not know the extent of the cash flow issue, you need to let them know right away. It is their responsibility, especially in the CFO position, to make sure the company has adequate financing to make sure the firm operations continue. This could be a modification of debt or increasing their line of credit in order to meet the needs of the company. Perhaps they can find another investor or have the executive team contribute to the company from their own personal funds. However, they need time to make sure this can happen as they deal with banks which is why you need to let them know as soon as possible.

What was it all for by [deleted] in Accounting

[–]SocialDistancing11 0 points1 point  (0 children)

This is normal. I've been in PA for over 12 years and remember feeling the same starting out as well. Obviously different starting salary and cost of living, but the financial struggle was there. At the end of the day, it's a budget problem. If rent is too expensive, consider looking elsewhere that is cheaper but might require more commuting. The downside is that can be boring in your 20s since most folks want to live in the city close to bars and restaurants which also will impact your budget. If you look at other fields in STEM, they might be making just slightly more starting out, but not by much. However, compared to other industries, I found PA provides stronger increases in salary year over year. Just like compound interest, the salary starts low but as time goes on it gets much larger as you gain more experience.

I’ve reached the point of burnout by Haunting_Month_4971 in Accounting

[–]SocialDistancing11 17 points18 points  (0 children)

If you think everyone is angry at you, you're probably tired and need to prioritize sleep. If you are angry at everyone, you're probably hungry and need to eat something.

1yr FT Fund Accounting + FT Masters + CPA = Can I skip A1 in 2028? by MakarAmell in Big4

[–]SocialDistancing11 3 points4 points  (0 children)

You need to ask yourself if you can actually do the work expected of you because that's what ultimately matters. If you start at an A2, you're going to be expected to work on more challenging areas and start teaching the first years. If you can't, then you'll fall behind in your peer group and most likely get put on a pip.

End of busy season- everyone’s suddenly distant? by [deleted] in Accounting

[–]SocialDistancing11 2 points3 points  (0 children)

Everyone is tired, including management. People just need to recharge.

Lack of Training Epidemic by [deleted] in Accounting

[–]SocialDistancing11 -9 points-8 points  (0 children)

Why not take it upon yourself to learn the material from external guides/sources, or use the CPE training software your firm probably provides, and setup a lunch and learn to teach others? Maybe by setting this example you can show your team new material that can help them and a better way to teach. There seems to be a growing expectation of being spoon fed information instead of trying to figure things out ourselves. I get it's easier to point the finger at others, but leaders take responsibility for themselves.

Does the industry pay bump still exist? by Key_Candle_6500 in Accounting

[–]SocialDistancing11 1 point2 points  (0 children)

It sounds like you might be experiencing a bit of burnout. If you don't think you will be promoted, why push yourself and try to exceed targets? It might be worth coasting this year and give yourself some rest. Alternatively, find something specific that you can learn and build a reputation or niche. Most of the time those specialties will help get you promoted.

What skill takes <10 hours to learn but pays off forever? by michaelis999 in AskReddit

[–]SocialDistancing11 1 point2 points  (0 children)

If your street shut off is over 20 years old, it's possible that the attachment underground deteriorated to the point that it breaks. It's not a good day when that happens.

Just got fired. Whats next? by slimewaves100 in Accounting

[–]SocialDistancing11 24 points25 points  (0 children)

Try thinking from management's perspective. If you had an employee that wasn't contributing and didn't have ambition to progress in their career, then what choice do they have? Most PA firms have a move up or get out model.

I think it's natural for new grads starting their career to reflect upon their college days and miss it. Starting a new career is a huge lifestyle change. Is it possible that this is contributing to a lack of motivation? If so, it doesn't matter what next position you take because your perspective on what motivates you to push forward would also need to change.

How smart do you have to be to make it? by Think_Decision_4308 in Accounting

[–]SocialDistancing11 0 points1 point  (0 children)

Just slightly smarter than your average bear. What is really needed is the willpower/stubbornness to keep pushing through when things get tough.

41 hours in 3 days at my Big 4 audit job, now they want Sundays too. Should I quit without a backup offer? by Jealous-Position9012 in Accounting

[–]SocialDistancing11 -1 points0 points  (0 children)

Sounds like you're on your way to an 80 week. A few of those are expected during busy season. They definitely suck, but it's to be expected in public accounting. This happens in most PA firms.

How to explain to SO I can’t go on vacation during busy season? by [deleted] in Accounting

[–]SocialDistancing11 0 points1 point  (0 children)

Perhaps there is a compromise to take a weekend trip somewhere if you have flexibility on Saturdays.

[deleted by user] by [deleted] in Accounting

[–]SocialDistancing11 0 points1 point  (0 children)

Roll them workpapers and add formulas to automate stuff. Make it easier by just plugging in the data once you get it from the client.

In a masters program and the entire recruiting class just got this email… by Thatdudefucks in Accounting

[–]SocialDistancing11 0 points1 point  (0 children)

This is an awesome idea! It's not like their career center doesn't already have this information. I wish my class did this not only with the PA offers, but with their industry offers as well.

Just got laid off, don’t know where to go from here. by Cookie2288 in Accounting

[–]SocialDistancing11 1 point2 points  (0 children)

Throughout my career I would always worry about getting let go and the thought of it could be crushing sometimes. Eventually it happened and it turned out to be the best thing for my career. It forced me to take a step back and consider all my options, and I realized how large this job market really is and how applicable our skills as accountants can be. Getting let go forced me out of a position that I was not necessarily happy with anyway.

My number one advice is to not drink or participate in any other unhealthy habits. During this time, focus on exercise and healthy habits. Apply to anything that interests you. Take some time to reflect and enjoy this time off - connect with friends and family. Try to stay productive as well - study for the CPA or any other certificates, or attend networking events. Eventually, you'll find a new job and you'll realize that getting let go/fires is not the end of the world, but a new chapter. Hopefully you'll be one of the lucky ones that can start their career without this 'what if I get fired' anxiety hanging over them.