The Work-Life Balance of Auditors at Local Firms vs. Big 4
When considering which type of accounting firm might be right for an auditor, one of the key factors is often work-life balance. Generally, auditors at local accounting firms often enjoy a more manageable schedule compared to their counterparts at the Big Four firms.
Work Hours: A Comparative Analysis
Big Four Auditors: Major accounting firms like Deloitte, PwC, EY, and KPMG often experience peak workloads, especially during year-end audits. This can result in longer hours, often exceeding 60-80 hours per week during busy periods. The intense workload is a hallmark of these firms, which can make balancing work and personal life challenging.
Local Firms: In contrast, local accounting firms generally offer more manageable schedules. While the work can still be demanding, especially during busy season, the workload is often less intense. This can be particularly appealing to those who value a better work-life balance.
Client Base and Complexity
The client base is another significant factor. Big Four firms typically handle larger and more complex clients, which often requires extensive work and longer hours. Local firms, on the other hand, focus on smaller businesses, which can result in less intensive demands.
One auditor, working at a firm in the top 100 US accounting firms, shared that their audit group works about 45-55 hours in busy season with rare overtime outside of busy season. Another auditor commented on working between 60-70 hours during busy season but rarely having overtime outside of this period. It’s clear that these firms often compensate for their manageable schedules with equal or better pay, suggesting that the trade-off is worth it for many.
Culture and Expectations
Culture at Big Four: The culture at Big Four firms often emphasizes high performance and long hours, leading to a more intense work environment. While this can be rewarding for those who thrive in such a setting, it can also be stressful.
Local Firms: Local firms, on the other hand, often promote a better work-life balance. This can be particularly appealing to those who prioritize personal time and well-being.
One individual who has worked at Big Four firms for 20 years is now seriously considering starting their own business. They argue that starting a business allows one to be their own boss and be satisfied with the extra hours put in, as they are working for themselves rather than an external employer.
Conclusion
Ultimately, the specific workload can vary widely depending on the firm, the time of year, and individual client demands. If work-life balance is a priority, local firms may be a better choice for many auditors. However, it’s important to recognize that every workplace has its own unique challenges and pressures.
Choosing the right firm may require careful consideration and personal evaluation of one’s values and goals. For those seeking a more balanced approach, local firms can offer a attractive alternative to the intense work culture of the Big Four.