Marks Paneth Reviews in New York City, NY | Glassdoor

Marks Paneth New York City Reviews

Updated December 6, 2017
49 reviews

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New York City, NY Area

3.9
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Harry Moehringer
9 Ratings

49 Employee Reviews

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Pros
  • Work life balance is as good as it is going to get in a public accounting firm (in 16 reviews)

  • Exposure to various industries, positive feedback and constructive criticism, open door policy with partners and managers and relaxed work environment (in 8 reviews)

Cons
  • pressure for billable hours but not enough billable work during non busy season (6-9 months) for many managers & even staff (in 11 reviews)

  • 401k match is a bit weak compared to other firms (in 8 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (1)

    "Great place to start your career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Supervisor in New York, NY
    Current Employee - Supervisor in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Marks Paneth full-time (More than 5 years)

    Pros

    Marks Paneth is a great place to start your career. It is open door policy here so you can really speak to your managers and partners about your interests and they will put you on work that you find engaging. The firm is growing rapidly which is beneficial to current staff in terms of finding opportunities to work closer to home in outer offices and also to try out new clients/industries. The office has a great family feel - it is very easy to meet people and make connections. Many staff have been at the firm for a long time. Having been with the firm for many years, I have seen great efforts to continue to increase morale and retain employees. Great flexibility in terms of reduced work schedules, coming in early/leaving early, etc.

    Cons

    Small 401k match, benefits could improve.


  2. Helpful (1)

    "Great"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior in New York, NY
    Current Employee - Senior in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Marks Paneth full-time (More than 3 years)

    Pros

    This Company is a great place to start your young professional career. The hours here are much better than most public accounting firms which allows for a better work life balance, making it easier for young professionals to start their families sooner rather than later. The Company also provides overtime pay which is particularly unheard of in most other public firms.

    Cons

    401k match is a bit weak compared to other firms. Overall the benefits they offer can improve.

  3. "Audit Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Audit Associate in New York, NY
    Former Employee - Audit Associate in New York, NY
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Marks Paneth full-time (More than a year)

    Pros

    Lots of nice people to work with , better than other CPA firms in terms of hours especially during busy season.

    Cons

    Benefits are not great at all, management is too old fashion and sometimes it's hard to communicate with them, lack of training.

    Advice to Management

    Management should pay more attention to train new employees, it's a key to success.


  4. "Better off at another firm"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Accountant in New York, NY
    Former Employee - Senior Accountant in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Marks Paneth full-time (More than a year)

    Pros

    There are some good people that work in this organization.

    Cons

    Came from top 10 public accounting firm and it was a culture shock to say the least.

    1. Lack the technological resources as a result of trying to keep overhead low that you will find at bigger firms. During my time we had a handful of firm wide work delays of up to a week which results in Seniors having to work 7 days a week for up to a month in order to meet deadlines.

    2. HR policies are not keeping up with the industry as a whole, mainly because partners are reluctant to trust the staff through supervisors. Example is a no flexibility to work from home policy, HAVE to be in the office at all levels aside from partners or it is looked down upon. Summer Fridays cut short for audit because you are expected to work second busy season for tax. Speaking of tax, imagine trying to wrap up an audit and being thrown a tax return for Saturday.

    3. There is no set policy on promotions or advancement which means it is solely based on the firms needs and at the partners discretion. During my time there I spoke with people who were in the staff position for up to 4 years, this was not an isolated incident effecting only 1 or 2 individuals.

    4. overcrowded and outdated offices from top to bottom.

    5. It is well known public accounting has a high turnover rate, but this firm does not typically retain Senior's through Managers, especially when coming from other firms due to the aforementioned issues.

    Advice to Management

    A few small changes each year could take the employee experience from poor to satisfactory, make them.


  5. Helpful (2)

    "Typical corporate environment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I have been working at Marks Paneth full-time (Less than a year)

    Pros

    Good staring point for young professionals. Flexible hours. All levels of employees work very close, open doors communication process. Hands on experience and classes for starting associates. CPA courses price break.

    Cons

    Very much $ driven system. People work long hours but can't show it on time/bill records. Billable rates are pretty high. Unreasonable time budgets for work.
    Very low 401k match. Very expensive medical insurance.

    Advice to Management

    Replacing experienced employees by younger and therefore cheaper associates does not always bring good results. Value clients and people who serve them. Make company at the size it is now work as whole, and then buy more practices.


  6. "Senior"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Audit Senior in New York, NY
    Current Employee - Audit Senior in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Marks Paneth full-time (More than 3 years)

    Pros

    The firm is very focused on the development of its employees. Great training. The partners make time to work with their staff.

    Cons

    Busy season is quite busy, but isn't this expected in public accounting? Benefit plans are improving including the introduction of a paid parental leave plan.


  7. Helpful (1)

    "Senior"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Accountant in Purchase, NY
    Current Employee - Senior Accountant in Purchase, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Marks Paneth full-time (More than 3 years)

    Pros

    Flexible schedule, can learn multiple sides of accounting (Audit, Tax, Bookkeeping, etc), very friendly managers and partners, and the CPEs that are offered are of very high quality. The managers and partners care very much about us being educated and attaining our CPAs or other type of certifications. We are given a lot of paid time off and summer hours are a very nice addition.

    Cons

    Health insurance can have a lower deductible.
    401K match could be higher.

    Advice to Management

    Could have more frequent meetings with staff

  8. "Perks at Marks Paneth"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in New York, NY
    Current Employee - Manager in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Marks Paneth full-time (More than 3 years)

    Pros

    Employees appreciate all the internal programs the firm offers like womens networking, yoga, mediation, weight watchers, free movie, baseball and broadway show tickets, etc! It definitely helps morale and team building.

    Cons

    Would like to see some more structured promotion criteria and a formal mentor program but this has been brought to HR and Management's attention so is in the works for the future.


  9. "Audit Senior"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Audit Senior in Woodbury, NY
    Current Employee - Audit Senior in Woodbury, NY
    Positive Outlook
    No opinion of CEO

    I have been working at Marks Paneth full-time (More than 5 years)

    Pros

    Exposure to various industries, positive feedback and constructive criticism, open door policy with partners and managers and relaxed work environment. This of course depends on your group because there are partners in other groups who treat their staff like children.

    Cons

    Long hours of course during busy season, inefficient audit planning, old-school mentality with flexibility and working remotely. Seems like HR is trying to fix this but the partners are not very willing.

    Advice to Management

    Allow your employees some flexibility as long as the work is getting done.


  10. "Great environment, solid career opportunities"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Intern - Intern in New York, NY
    Current Intern - Intern in New York, NY
    Recommends
    Positive Outlook

    I have been working at Marks Paneth as an intern (More than a year)

    Pros

    A growing firm with many career opportunities and a highly experienced staff. Ideal environment for anyone who is serious about pursuing accounting as a career without necessarily working at a Big Four firm. Office size is small enough where you get to work with everyone from seniors to partners. HR and upper management really care about employees' quality of life. Company provides seminars on many different topics to brush up people's accounting knowledge. Specifically for interns, they provide department lectures to give them a sense of what field they would like to work in. Company outings and sports activities included if you are looking for a social life!

    Cons

    Firm generally encourages employees to specialize in one area (ex: tax or audit), so it may difficult to engage in a variety of tasks if you're looking for diversity.


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