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Happy Black Friday! May you not get in a fist fight over a discounted video game system or flat screen tv. Today is the official start of the holiday shopping season, and legend has it that it is also the first day of the year that major retailers “go into the black.” For those of you not familiar with accounting terminology, that means that they finally become profitable. Whether or not this is true depends on the retailer, but you have to wonder why a store wouldn’t just open up for November and December and sit dormant the rest of the year if it’s really that bad. Anyway, last year we talked about a major Black Friday retailer, Amazon.com, and their jobs, and today we’re going to go the other way and look at a major accounting firm, Ernst & Young. They might not be the first company that you think of on Black Friday, but you can be sure that they spend a lot of time analyzing the results. And, of course, they do a ton of entry level hiring.
Ernst & Young is one of the biggest entry level employers in the world, and even they’re cutting back a little due to economic concerns. Still, between interns and full-time hires they’re looking to hire 5,000 students through college recruiting. That’s astounding. Ernst & Young has a fantastic Careers site with a specific section for students. It’s full of information, so you won’t have trouble researching Ernst & Young. Beyond their own Careers site, EY has also invested a lot of time in making the most of Facebook and Twitter. They really couldn’t do a much better job of keeping job seekers well informed, that’s why we encourage you to go to their site to learn more.
One thing that you won’t notice on Ernst & Young’s Careers Site for Students is job listings. That’s because they don’t have them. A few months ago I had a phone conversation with Dan Black (what a fitting name for today), EY’s Director of Campus Recruiting, and I told him that I couldn’t find the job listings on EY’s Students site. He told me that this was by design. Ernst & Young has specific academic requirements for incoming accountants, so they almost exclusively hire through on-campus recruiting at school’s that offer the type of education that EY is looking for.
Ernst & Young has locations in almost every state and in countries all across the world. If you want to see if they have a location near where you’d like to live, use their interactive map to check. So what should you do to get a job with Ernst & Young if you can’t apply online? The recommended plan of action is to go to your Career Services office and ask about when EY will be on campus. If that doesn’t work for you, you may want to try reaching out to EY’s college recruiting team through Twitter or Facebook. Now go shopping and help the economy, but save some money for our soon to be released job search training course.
Links to Help You Begin Your Research
What did you buy today to help retailers go into the black?
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Actually, Ernst & Young is in its 4th round of lay-offs. They will not be hiring entry level right away.
Also, it is important to know that it takes several years to get promoted in the Big Four environment. It is extremely competitive and hierarchical work environment.
I am an Ernst & Young alumn. I can attest to the company policy against “early promotion”.
It is very much like the military in that aspect. You will work you behind off. During busy season expect to work between 60 to 75 hours a week. This is for Financial Auditors, Tax
Professionals, IT Auditors, or Fraud Investigators. I am not too familiar with the other groups.
I will say this. The money is extremely good. However, the corporate culture is that of micro-managing and departmentalizing job functions. Most people leave after two years.
Pros: You will make a lot of money and it looks good on the resume.
Cons:Forget work-life balance for awhile. You will only know your specific job function and thats it.
Good Luck to those who apply. I do not mean to sound negative, but I wish someone would have told me these things before I applied.
Best,
I work for the company that hired E&Y for financial auditing and tax prep. What a nightmare! I had to explain to the audit team things like “series B financing” and “worker’s comp”. I am not kidding!Even the team leads are incompetent enough to understand that certain tax accruals need to be communicated to the tax department in order to be captured on the return. Several months after the audit was completed we kept finding errors, but audit team lead left, shortly after tax rep left!I am currently working on the CPA prep and will need to gain auditing experience, but after seeing E&Y at work I don’t think I will be going there! thank you for letting me vent.
I recently heard that E&Y has done another round of lay offs in New York, Boston and DC.
The reason auditors ask questions that appear to be stupid are to understand what employees at clients are doing and to see if what they are doing is correct. Auditors go in pretending to know nothing to so as not to have preconceived assumptions about the companies existing internal controls.
What a load of crap. I’ve been at EY for over two years now, and I can tell you that it was a mistake of a life time, I’ve tried joining other organizations but it isn’t that easy down here. Like someone said, forget about balancing work and life, and also forget about being treated like a human being. Most of our work in the consulting business is just a copy past and reword of past work products, then we call it “Lead Practice”. Gimmy a break for cryin out loud.