Does anyone think public accounting will ever pay the cpas an amount that is actually competitive? Average starting at large firms for tax and audit is around 70-75. This is good money right out of college but is nowhere near tech, banking, consulting, etc.
The ESOP owns actual shares, . There is no exercise price. Costs the employees nothing - completely employer funded. And vesting is generally a six-year graded schedule, not a cliff. The longest permissible cliff is 3 years, but the vast majority of ESOPs vest over six years graded (20% after 2 years, 40% after 3 years, etc.). Also BDO is not the only CPA firm with an ESOP. Some good examples of 100% ESOP-owned (not like the current 42% at BDO) include SC&H, Redpath and Company, and Katz Sapper & Miller.
Isn't it a 6 year vest? I still haven't stayed at a firm for 6 years yet and I'm a director in a big firm. It's a big invisible carrot that I don't think people will be able to use it. Did you immediately sell the options after exercising?
Does anyone think public accounting will ever pay the cpas an amount that is actually competitive? Average starting at large firms for tax and audit is around 70-75. This is good money right out of college but is nowhere near tech, banking, consulting, etc.
The ESOP owns actual shares, . There is no exercise price. Costs the employees nothing - completely employer funded. And vesting is generally a six-year graded schedule, not a cliff. The longest permissible cliff is 3 years, but the vast majority of ESOPs vest over six years graded (20% after 2 years, 40% after 3 years, etc.). Also BDO is not the only CPA firm with an ESOP. Some good examples of 100% ESOP-owned (not like the current 42% at BDO) include SC&H, Redpath and Company, and Katz Sapper & Miller.
Isn't it a 6 year vest? I still haven't stayed at a firm for 6 years yet and I'm a director in a big firm. It's a big invisible carrot that I don't think people will be able to use it.
Did you immediately sell the options after exercising?