August 21, 2018

At Least One EY Associate Not Pleased to Learn That Overachieving Doesn’t Count for Much

A tip from the mailbag that is sure to crush the morale of some enterprising EY audit associates:

A tip from the mailbag that is sure to crush the morale of some enterprising EY audit associates:

NYC EY office is refusing to give ratings of 5 to any staff 1s in assurance this year. My counselor told me they essentially got rid of the 5 for staff 1s and are only giving top performers 4s.  To get a 4, you not only need to significantly exceed expectations, but you have consistently perform senior level work.  Doing some senior level work is not satisfactory for this rating. You have to CONSISTENTLY do the senior's work.  I don't know how anyone can be expected to consistently perform senior level work.  You basically have to step over the staff 2 and take the senior's work after doing all of your staff 1 work.

Putting "exceeding expectations" far out of reach to young staff is a tradition unlike any other in the accounting profession. By qualifying top performance as something that happens only in the rarest of cases, no one but the ludicrously ambitious will pursue the highest ranking.

Which is fine! Breaking spirits is how firms learn who will persist in the face of unrealistic expectations, moving goalposts, impossible odds, then have their dreams dashed and get up and beg for more. The question is: Who's the biggest glutton for punishment?

Related articles

Layoff Watch ’10: Ernst & Young January Edition

Confused doesn’t even begin to describe what were feeling. We are hearing tons of rumors about layoffs in the Ernstiverse this week.

We’ve heard rumors from Denver to the East-Central (fka North-Central) and New York FSO. This includes both client serving professionals and support staff. We have already confirmed that two admins were let go earlier this week in New York.

The timing is especially strange since, you know, it’s January and in some offices the mandatory hours have already rolled out. Even if it were only support staff being let go, the timing is still unheard of. Why wait until January to let people go when having cuts in November? Maybe it’s just us but if we had survived that November cut, we would have thought that our job would be safe until at least the spring.
And since the roundtables seem to be SOP you wouldn’t think they would be anything to worry about but they definitely have people talking and wondering what will go down.

So far, Ernst & Young has not responded to our request for comment.
If you hear anything about your office get in touch in with us and discuss in the comments.

E&Y’s Entrepreneur of the Year Award Just Got a Little More Prestigious

Jim Turley3.jpgFrom what we can tell, the Ernst & Young Entrepreneur of the Year award is a BFD. If the other Big 4 have their own versions of this award, we sure haven’t heard of them.
And even if Deloitte were to start handing out the Uncle Dangle Vigilante of the Year award, it would pale in comparison to the EYEY because, now, a past winner is going to be on The Real Housewives of New York City.
Jennifer Gilbert won her EYEY in 1998 for her business, Save the Date, “A dedicated force of event planners who are in tune with the constantly evolving world of corporate events.” She’s even in the EYEY Hall of Fame. Jesus, this thing has a HoF?
J Dawg has to be bursting over this. Shamelessly up on his desk fist pumping, Tiger Woods style. A soon-to-be reality TV star that, God willing, will name drop E&Y every chance she gets on cable would be the best thing that ever happened to the firm. Sorry, NASCAR HoF.
The Real Housewives of New York Adds a Second New Non-Housewife [Gawker]