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Is overtime expected and/ or allowed?

#accountant#accounting #business #finance

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Zoe’s Answer

Hi Gisbel,

In almost any profession in the business real, overtime is expected at occasions. The working hours definitely depend on the type of Accounting work you do, the position you're in, as well as the company you work for. Usually overtime will also bring perks like team dinners and snacks. Be sure to research the company you want to work for so you have an idea of your work life balance.
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Denise’s Answer

Hi Gisbel! Overtime is definitely allowed and could potentially be expected, especially during busy season in the winter/spring. However, there is still a good work/life balance so I wouldn't worry about overtime! As long as there is stuff to do, time passes quickly. If the work has been done, most seniors emphasize that there is no reason for you to stay longer just so you can hit the budgeted hours. Furthermore, before you start, the firms will give you a good idea of how much overtime to expect. Even with the same office location, these times will vary depending on your clients. Hope this helps and best of luck!
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Michael’s Answer

The world of public accounting relies heavily on overtime during busy season, which typically beings in January and ends in April. During this time, the firms are pretty clear about what their overtime expectations are, as far as how many hours you are expected to work. You will be working closely with a team and will all be keeping the same hours. This overtime is allowed as all employees are overtime exempt and salaried; terms which you would agree to at the beginning of your employment. It's also worth noting that no one in the profession refers to it as overtime (probably an effort to normalize it). This has been part of the growing pains of the profession for several generations of workers and is accepted as the norm by those in senior positions.
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Mark’s Answer

It really depends on the company you are working for and their overtime policies. Some companies will expect you to work overtime at Peak seasons but I would try come to agreement that if they are not going to financially reward you for this overtime that they give it back to you in time in leau. This way everyone is a winner. I would clarify this with the company what are their policies and what are your entitlements as it will be written in your employment contract.
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Justina’s Answer

Overtime depends on the company and your day to day responsibilities / job. I would say be open that at one time in your career you might have to work a little extra time to be able to deliver results. That said it’s also important to learn how to balance work & personal life, and reaching out when you need assistance.
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D'Anna’s Answer

Hi Gisbel,

When it comes to overtime most employers find it expected when needed.
A lot of employers however frown on over time for employees when it is not needed or approved.
The best thing to do is speak to the employer when you start and see what their overtime polices are. :)
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Richard’s Answer

This is going to vary widely by culture/firm, position, and industry.

In banking, expected; 80 hours a week is a norm. Corporate work/accounting/commercial banking (as opposed to investing) is going to be a very different ballgame and usually closer to 40 with overtime likely discouraged.
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Richard’s Answer

My son works in finance (entry-level, investment banking), and I spoke with him about your question. In banking, you'll probably work anywhere from 60 to 120 hours a week, and some firms pay overtime for summer interns while some don't. As a full time, you will be salaried and no hourly, and your overtime work will be compensated via bonus.
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Michelle’s Answer

Overtime is pretty much expected during the busy seasons of year end financial statement preparation and the resulting audits if you're public or private accounting. If you are salaried, then the overtime hours don't really mean much. Depending on the clients you are assigned and what year you are, there are different expectations. If you work openly with the teams you are on, though, you will be able to determine what your expected schedule will look like for your busy seasons and what overtime is needed. At times, in public accounting, you will be working overtime Monday through Thursday and then Saturdays for 4-6 hours as well, but this schedule will typically only be true for the months of January through March or April depending on the department and your clients.
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PS’s Answer

Hi Gisbel,

The answer depends on what type of company you work for. I have worked for a Fortune 500 company for many years, within the Finance department. Overtime was expected. On average I would say i worked 60 - 75 hours per week.

As stated from another reply, in most cases employees are overtime exempt/salaried.

Thanks,

PS
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Charlotte’s Answer

It will depend on the employer & the job role.
Some employers may encourage overtime & even pay you by the hour for this extra overtime.
Some may not pay you extra, but may say to you in your interview or even your contract with them, that overtime may be required from time to time.
I wouldn't be too hung up on thinking this is a requirement and you are expected to work hour and hours extra overtime a week. Because if that was the case, it will definitely be told to you at interview stage, and not just sprung on you when you work for them.
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Kent Taylor’s Answer

It depends on the employer and the nature of the job. Usually, with public accounting firms, the answer is yes.
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Carlie’s Answer

Overtime is definitely allowed, and is expected more often than not. Unfortunately, many companies pay their employees salaries, which does not mean they have to pay overtime for the additional hours that were worked. However, on the upside, those in Accounting and Finance tend to make an above average salary, and there are some other benefits that come with overtime such as free meals, recognition and larger bonuses.
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