The Siegfried Group Associate Manager Reviews | Glassdoor.ca

The Siegfried Group Associate Manager Reviews

Updated Jun 3, 2019

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3.3
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Rating TrendsRating Trends
62%
Recommend to a Friend
75%
Approve of CEO
The Siegfried Group CEO Rob Siegfried Jr.
Rob Siegfried Jr.
22 Ratings
  1. Helpful (23)

    "Full of lies"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Associate Manager 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at The Siegfried Group

    Pros

    You get to meet accounting professionals around the same age group. Pay is good if your willing to sacrifice your career development.

    Cons

    You will get forced on projects that will not build your professional skill-set. The leadership group is the most unprofessional group of people I have met in my career. Leadership is extremely incompetent where director roles are given to individuals who are incredibly under-qualified

    Advice to Management

    There is a reason why this company is hiring at such a fast rate. Not due to growth, but due to large employee turnover. You will only retain bad employees if your main incentive is just pay.

    The Siegfried Group2016-05-28
  2. Helpful (9)

    "Do not ever work here"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Associate Manager in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at The Siegfried Group full-time for more than 3 years

    Pros

    Compensation is what brings people in the door. The only plus is that you will make a ton of money if given the right client. Bonus pool for billable hours, tenure on client, and even a bonus for attending *mandatory* Saturday "Rob Siegfried Summits" branded as leadership development events and filling out corresponding busy work. Recruiting bonuses are huge but you are selling off your friends for money.

    Cons

    Client work is not challenging, basically busy work. Most clients do not care about Siegfried's staff - they are there because the client needs to fill a gap. No strategic projects and mostly staff and senior-level busywork. Basic GL accounting/monthly close is 90% of their "resource" placements. They also outsource audit staff to Big 4. You do not gain any valuable work experience if you are a B4 manager level or... above. Major cons is management. Multiple layers of salaried overhead "leadership team" that will treat you one way in person and throw you under the bus behind your back. The leadership team does not care about you or your career progression and only cares about you being deployed to a client as long as the client pays the hourly rate. A lot of the leadership team are useless, and either do not sell anything and have not ever sold anything, or perform useless jobs such as "reaching out to fraternity and sorority alumni to build the Siegfried brand" - again, a waste of a base salary. HR is nonexistent, you have "professional resource directors" many of which do not know the half of what you are doing at your client yet they perform your performance reviews and will not listen to your concerns about your client engagement or hear any negative feedback on your role. Full disclosure: I received 4 and 5 ratings from all of my client assignments, so this is not a personal bias as my ratings were fine. There is so much time-wasting administrative things you have to do to please leadership that you have to do on top of your client duties. Also, the whole "leadership advisory" thing is not helping.

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    Advice to Management

    Eliminate useless leadership positions, listen to your employees concerns and get rid of the overall "fake" personalities.

    The Siegfried Group2019-06-03
  3. Helpful (29)

    "Comprehensive pros and cons - Fair pay, bad rep and poor quality of work. "Overpaid contractor""

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Associate Manager 
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at The Siegfried Group full-time for more than a year

    Pros

    With qualifications*: 1. Slightly above market pay for minimal level of effort type of work. Can be idle/unassigned for months, great being paid to do nothing at home at the cost of gaining no experience. Pay for a senior accountant would be roughly 5%~10% higher than a senior accountant in industry depending on size of client however in some cases lower than F500 senior accountants. Qualification: *Initial... recruitment is only attractive for candidates having completed their first year as a senior accountant in public accounting with an average rating so it is a big relative increase. *F500 senior accountants have higher base comp and stock options which in the long run is more valuable. *Might be asking yourself why you did not go into industry after back filling as an industry accountant for two years at the same client. 2. Array of incentive pay provides for a sense of accomplishment. Travel bonus, duration of project, referral bonus (premium on big 4 referral), business development bonus, and average hour bonus are a definite plus. This is the biggest pro but is a mix of luck, hardwork and sometimes resorting to misleading your contacts. Qualification: *Duration of project bonus (on a project more than 4 months) is actually an industry wide practice for professional services outside of audit, many people coming from audit do not know this. *Travel jobs not guaranteed *No control over hours chargeable to client/pre-negotiated capped hours 3. Some control over the type of engagements you are placed on as you can decline roles sent your way. Professional resource directors try to look out for you and you are expected to be "flexible" which is fair. Your results may vary (NYC and LA PRD considered to have "fake" personality) 4. Wine and dined often and nice networking allowance. Great effort taken to ensure resource is appreciated and are able to network using the allowance. The closer you are to the powers at be, the more this happens. Qualification: *Gets old very fast as this is an attempt to build a fun culture and can get cliquey if you are not close with those that can expense items 5. Events hosted in Las Vegas which is the big selling point for some people. After 3 trips in 2 years it does lose it's appeal. 6. Firm treats their resources like clients to some extent, and remedies the poor treatment many seniors get in public accounting firms making a big selling point for those coming from a poor environment in audit. 7. Various different types of projects, working for large clients. Results may vary, depends how much the resources complains about what type of work they are interested in. *Can be stuck on a bad engagement with earliest appeal in 12 months of starting the project once accepted.

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    Cons

    Do not let management fool you by comparing Siegfried work/life to audit work/life, this is not an apples to apples comparison. The job is very close to an industry job, but the firm operates similar to a temp placement company contracted for projects. This opportunity should be compared to industry jobs and industry compensation. 1. Poor reputation among people from all levels of the big 4 that have worked with... Siegfried resources on common clients. Often tasks resources are asked to perform are reviewed/funnel up to big 4 and has a history of no review leading to poor performance. Having Siegfried on your resume may actually hurt your competitiveness if the next hiring manager you interview with is from the big 4. There are instances where a Siegfried senior manager or director reports to a big 4 seniors in advisory. "Interesting and challenging" Siegfried engagements is more often than not the grunt work that the big 4 do not want to do. 2. Caliber of resources is steadily dropping which is moving away from what is marketed to candidates/clients. There is a decreasing number of big 4 in the resource mix and an increasing number coming from mid-size and regional/small firms. Big 4 seniors are recognizing better opportunities elsewhere despite the internal increase in the recruitment premiums on people from the big 4. In addition, the firm does not attract high performing seniors, almost all average ratings. High turnover as resources from the big 4/mid-size quickly realize the quality of work is not what is marketed, referred within Siegfried as "poor fit". 3. Despite the claim that the firm only hires "entrepreneurial" minded individuals, it appears they favor individuals that only know one truth, that they hate audit. As a result, an overwhelming number of the resources have no real ambitions or entrepreneurial spirit as they have no idea where they want to take their careers. Individuals that join under the guise of obtaining meaningful experience to advance their career in a specific path leave within a year or two if not within the first 6 months. Retains a lot of unmotivated people that hope for the idle time in between assignments. 4. Minimum required billable is 45-48 hours a week all year long. Always pre-negotiated with the client, no flexibility as you are required to be present at the client even with no work. Hours turn out to be about the same as some people from audit on an annual basis, only difference is that it is spread out. 5. Absolutely only for those that want to spend the rest of their career in strict accounting and reporting roles. The "interesting and challenging" projects are categorized in names that appear exciting, however the nature of the work will still be the low end of repetitive accounting grunt work. For example, a "carve out or divestiture" project for a large deal will likely have the resource doing a small accounting standard implementation or back filling a daily accountant role which has nothing to do with the actual carve out while the clients team works on the actual carve out. Ad hoc tasks will be assigned that can be remotely related to the actual cause of the project but will not be the resources main function. 6. The firm hires a lot of former head hunters/recruiters and non-accounting/non-audit managers (think IT risk) as directors as their sole function is very similar, to sell the employee to the client as a temp. Some select few directors have very little accounting knowledge or background and so do not completely understand what they are presenting to the employee often leading to a mismatch of what the resources does for the client and what they described to the resource. 7. Appears to have many useless made up leadership positions staffed with under-qualified arrogant individuals. There is quiet widespread concerns of nepotism and questionable"fluff" positions at the firm that is considered "leadership". For example the CEO's son, with no prior work experience straight out of college is given a "leadership" role, albeit a rather useless position in "employee engagement". No issues with this happening as this is a private firm and the CEO can do as he pleases, however the other individual in "employee engagement" is arrogant, under-qualified and serves no real function at the firm. 8. Year end evaluation and promotion is even more of a popularity contest than in big 4/mid size public accounting as no one in leadership works with you directly since resources report to the client resulting in zero differentiation of quality of work. There are no objective measurable criteria or metric for ratings or promotions other than how leadership feels about the resources.

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    Advice to Management

    More and genuine PRD's Re-evaluate structure of firm to remove ineffective made up leadership roles More home grown directors that have worked as a resource.

    The Siegfried Group2018-12-22
  4. Helpful (1)

    "Honest Associate Manager Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Associate Manager in San Francisco, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at The Siegfried Group full-time for less than a year

    Pros

    - Love the emphasis the firm places on my development; they are genuinely interested in seeing me grow as a professional and especially a person. Really encourage you to become your best self, it's amazing - The firm's investment in ME is unparalleled to anywhere I've seen before (and surpasses programs offered by client companies in my market (SF, CA)) - Lots of room for growth in the company and many paths to... leadership - Incredible incentive compensation - my salary is pretty great as is and you have potential to earn upwards of 40-60% of your salary in bonuses - SO MANY opportunities for bonus compensation: overtime incentives, production incentives, client service incentives, travel incentives, business development incentives, recruiting incentives, etc etc etc - INCREDIBLY generous with firm expenses; no real budget to wine and dine your clients just need to have it approved; $1000 allowance (non taxable) to spend on your friends/family/colleagues; $750 allowance (non taxable) to spend on your physical/emotional wellness; $700 allowance (non-taxable) to spend on your professional development (conferences youre interested in, workshops, books, Wall Street Journal subscriptions, etc); they reimburse you for any CPA or designation / license fees -- on top of the $700 for any other leadership or development costs you want to incur. List goes on.

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    Cons

    - Deductible for benefits is somewhat high (~ $1300 for the year) - Firm could practice more vacation days for more federal holidays (ie MLK Day) that clients offer - but all major holidays are observed - I really do love working at TSG, but the firm can be kind of pushy to make you share your story with others (strong desire to continue growing, so strong emphasis on recruiting others into the firm) - like I... said, I love it here so I love sharing my story anyway, but for others who may not be as passionate about TSG as I am, this could rub them the wrong way.

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    The Siegfried Group2019-01-03
  5. Helpful (2)

    "Unique company and great people"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Associate Manager in Detroit, MI
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at The Siegfried Group full-time for more than a year

    Pros

    Through the My Journey program, the company trains employees holistically and mandates self-reflection and evaluation of our own personal long-term goals. We’re encouraged to think broadly about our own wellbeing and lifelong objectives by setting goals in areas such as the Physical, Intellectual and Spiritual facets of our lives. This program is embedded in the company’s culture and truly sets it apart from... anything else I have experienced. Moreover, the employees here are generally just great people who are easy to work with and fun to be around. The compensation plan is good too and well suited to self-starters who can take advantage of the performance based bonuses. Lastly, the business model means that one will experience multiple work environments, teams and projects; learning, growing personally and building a career in the process.

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    Cons

    The work hours can be long especially when combined with after-hours events and travel. For me personally, I enjoy working, love travelling and enjoy the variety that the professional resource role brings. However, if you’re looking for a “9-5 job” you should probably look elsewhere.

    Advice to Management

    Keep doing what you’re doing; we’ve got something great here.

    The Siegfried Group2018-12-22
  6. Helpful (16)

    "Don't care enough about their product, their people"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Associate Manager in San Francisco, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at The Siegfried Group full-time for more than 3 years

    Pros

    - Salary compared to big 4. - Exposure to industry

    Cons

    - Focused on growing business instead of the business itself. - Lack of support for staff - Zero control over work

    Advice to Management

    - When TSG starts to put as much importance on the experience that their people get as they do in getting smiles from clients they will have a winning formula. Until then expect unhappy staff and high turnover.

    The Siegfried Group2018-01-30
  7. Helpful (3)

    "TSG Review"

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

    I have been working at The Siegfried Group full-time for more than a year

    Pros

    Great variety of roles and work experiences. Great incentives

    Cons

    I don't feel there are cons

    The Siegfried Group2017-08-10
  8. Helpful (6)

    "You Get Out What You Put In"

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

    I worked at The Siegfried Group full-time for more than a year

    Pros

    - For the time I was at TSG, I was very impressed with the firm's 'nimble' approach to the consulting business. They were very adept at turning on a dime if they needed to and that gave me a ton of confidence in their ability to address any challenges that may come up. - I primarily traveled during my time with TSG. The extra pay (and all the travel benefits) is definitely worth it. I would only consider going... back if I knew I wanted to travel some more. - I worked in two separate offices and I was impressed by the local management teams in both offices. So if the office you start at isn't necessarily cutting it (and you have the flexibility to travel/move), I'd try the move. - You're going to work on some new clients in some new industries (and if you're not, you're doing it wrong). Everything you learn will be invaluable wherever you go, so soak it up. - Did I already mention the pay? - The quarterly My Journey events were corny at first. Then, I realized that no other company invests this much time in developing the professional and personal attributes of its people. Fully utilize these events!

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    Cons

    - Initially, Rob (CEO) was a little too political and wordy for my taste (and when you join up, you're going to hear from him a lot). He's backed off since, but if a more conservative-leaning message is tough to stomach for you, I'd look elsewhere. - Like you'd expect with consulting, the travel and hours get long and cumbersome. I was done with traveling so that's why I moved on from TSG and found another... opportunity.

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    Advice to Management

    Continue to invest in your employees with MyJourney and similar events. Continue to offer fantastic incentives to work longer hours, please the client, and travel.

    The Siegfried Group2017-05-28
  9. Helpful (5)

    "Great growing experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Associate Manager in Houston, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at The Siegfried Group

    Pros

    Salary is well within market if not above market average. Allows you to become a true problem solver and consultant.

    Cons

    Projects and assignments can sometimes become mundane. Must be willing to engage with clients and network so introverts may not be able to succeed long term.

    Advice to Management

    Keep up the good work and continue to listen to your employees.

    The Siegfried Group2016-11-24
  10. Helpful (18)

    "Potential to be lucrative, but expect to sacrifice career development."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Associate Manager in San Francisco, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at The Siegfried Group full-time for less than a year

    Pros

    Management has setup a bonus structure based on production, travel, and sales/referrals. If all stars fall into place (I.e. Your client allows you to bill 48+ hours a week, you are a "traveller" who is working on a client outside of you home market, and you are able to hire others on as referrals), the job can be quite lucrative.

    Cons

    Professional development is lacking, as it highly depends on what client you're put on how much you'll continue learning. Base salary is not as competitive as industry standards. Politics play a big role into the job, promotions, etc. High turnover.

    Advice to Management

    Focus less on MyJourney, and focus more time on getting your employees roles at clients that are challenging and enhance career development. Focus less on MyJourney.

    The Siegfried Group2016-06-22
Found 26 reviews