How Many Leaves Do Big 4 Accounting Firms Provide for CPA Exam Preparation?
Big 4 accounting firms—including Deloitte, PwC, EY, and KPMG—typically provide varying amounts of leave for employees preparing for important exams like the CPA exam. These firms may offer dedicated study leave, flexible work arrangements, or a combination of both. Let's delve into the details of these policies and explore the typical leave provided by each member of the Big 4.General Policies of Big 4 Firms
Generally, these leading accounting firms may offer:
Study Leave: Some firms provide dedicated study leave which can range from a few days to several weeks, depending on the firm's policy and the employee's position within the company. Flexible Work Arrangements: Employees might have the option to work flexible hours or reduced hours leading up to their exams.It is crucial to check the specific policies of the firm you are interested in, as these can vary significantly. Additionally, many firms encourage employees to balance study time with work responsibilities.
Specific Policies at Big 4 Firms
The amount of leave provided by the Big 4 can vary from firm to firm. As a general practice, a period of 4 to 5 months is provided for the first attempt. However, the actual number of leaves offered can depend on the firm and the individual's role.
KPMG's Policy
From my personal experience working at KPMG, I can assure you that a good 5 months of study leave is provided for the CA finals. KPMG adheres to the 156-day study leave rule laid down by the Institute of Chartered Accountants of India (ICAI) and also provides additional compensatory off.
Leaves are also provided for graduation examinations from this quota. The final decision to grant the leave is more of an outcome of a negotiation between you and your immediate managers and the team. The firm's policy plays a smaller role in reality. However, almost everyone in my firm and others in the Big 4 have secured 5 months of study leave. This is one of the longest unless, of course, you do a dummy!
Comparisons with Mid-Sized Firms
Big 4 firms generally offer better leave policies compared to mid-sized firms. For example, articles at Big 4 firms can receive as much as five months of paid leaves for the first attempt at the CPA exam. By the time an employee is in their last year of articles, they often earn around 18,000 hours of study time. Moreover, for subsequent attempts, the leave time can vary but is usually around two months, provided the individual has a good bond with their team.
It's important to note that these policies can apply to not only the Big 4 but also the top 10 firms in the industry. The competitive advantage of having such generous leave policies helps attract and retain top talent.
Studying for the CPA exam is a significant undertaking, and having the support of your employer through dedicated leave can significantly boost your chances of success. If you are considering working for one of the Big 4 firms, understanding their leave policies can be an important factor in your decision-making process.