Tyler Gear – Page 2 – Public Almanac

Billable Hours 101 – A Primer on the Worst Feature of Public Accounting

The billable hours model is an antiquated method for generating and tracking revenue in public accounting firms. This model, which is also common in law, engineering, and architecture firms, is based around charging clients and recognizing revenue for the hours accountants work on client engagements. Despite its numerous shortcomings, including the much-maligned (by us) utilization […]

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Why Clients Hire Public Accounting Firms

Miscellaneous / Tyler Gear

Accountants are expensive. If you have access to your firm’s rate card, you’ll probably find that they charge exorbitant prices to the client on a per-hour basis. It’s not uncommon for a know-nothing associate fresh out of college to cost the client $180 or more per hour. Directors’ and partners’ rates regularly clear $800 per

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How to Corporate – Soft Power Versus Hard Power

How to Corporate / Tyler Gear

Picture two colleagues. The first is a new equity partner. He’s been with your firm for two years and is an excellent salesman. He’s personable and good at training his subordinates. He’s also strict about meeting client deadlines, realistic or not, and expects his employees to treat client deadlines with similar respect. The second is

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Switching Between Public Accounting Firms: Pros, Cons, and Execution

Career Tips and Maneuvers / Tyler Gear

As you spend more time in public accounting, you’re almost guaranteed to hear from a recruiter working for a rival firm looking to poach you. Over the course of a five-year career, I’ve jumped firms twice, entertained around ten offers from competitors, and held dozens of chats with recruiters. This makes me something of a

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Knowing When You’re in a Good Place and When To Get Out

Career Tips and Maneuvers / Tyler Gear

One of the most difficult parts of getting ahead in public accounting is recognizing when you’re in a position to succeed versus when you’re set up to fail. In many ways, they may not feel that different. In both cases, you may have great coworkers and feel welcome. Alternatively, you may be stressed and ground

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Recognizing When to Negotiate in Public Accounting

Career Tips and Maneuvers / Tyler Gear

In business school, we’re drilled about the benefits of negotiating in our careers. A series of short conversations can yield more pay and better benefits for those willing to try. For a variety of reasons, many people fail to negotiate when the opportunities present themselves. The whole process is inherently awkward. Initiating a salary discussion

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The Rise of Private Equity in Public Accounting

Industry News / Tyler Gear

In August of 2021, EisnerAmper, a national public accounting firm, announced a strategic investment from private equity firm TowerBrook Capital Partners. On April 11, 2022, Citrin Cooperman, another national public accounting firm, announced a deal with New Mountain Capital, a private equity group, to sell a majority of its shares. On June 30, 2022, Cherry

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