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Overview

Introduction

NYC-based Marks Paneth is one of the 40 largest CPA firms in the U.S. and eight largest in the Mid-Atlantic region. Recently, it was voted the top accounting firm in New Jersey. The firm offers extensive growth opportunities, including a strong mentor program, internal mobility options, and merit-based promotions. Wellness offerings are plentiful, and include gym membership reimbursements and a program that lets you earn points to reduce your health insurance premiums.

Company Stats


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Employer Type


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Size


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Featured Rankings

Vault Accounting 50...


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Major Office Locations

New York, NY...


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Employment Contact

Steven D. Sacks, CHRO...

Firsthand Findings

Marks Paneth is looking for intelligent, hardworking, motivated, curious, and kind candidates who are eager to learn and committed to getting things right. For students, the firm runs a valuable internship program, giving them good training, hands-on experience, and exposure to various areas within the firm. For full-time staff, Marks Paneth offer a strong mentor program, internal mobility options, and merit-based promotions.

Although busy season hours can be long and stressful, the work/life balance is excellent at Marks Paneth. The firm offers generous PTO and a lot of schedule flexibility, and staff’s personal lives are considered as much as possible. Meanwhile, salaries, benefits, and perks are competitive, if not standard. Insiders say the healthcare insuran...

About the Company

Marks Paneth is headquartered in New York City, with additional offices throughout the East Coast. It is one of the 40 largest CPA firms in the U.S. by annual revenues, and one of the eight largest in the Mid-Atlantic region. In the past few years, the firm has grown organically and by acquisition. It now employs approximately 700 people, including approximately 90 partners and principals. It has annual revenues of $142 million. Abe Schlisselfeld was elected co-managing partner effective January 1, 2021.

In 2021, it was named one of America’s best tax and accounting firms by Forbes magazine. In 2020, it ranked as the 14th-largest accounting firm in the New York area by Crain’s New York Business, and was voted the top accounting firm in New Jersey in the NJBIZ Reader Rankings. In addition, in 2018, the firm’s advisory serv...

Employee Reviews


  • “Very generous PTO policy so there's plenty of opportunity to take vacation throughout the year (outside of the busy season, of course). Opportunity for flexible work arrangements. Work from home has been very successful.”
  • “The work/life balance is excellent at Marks Paneth. Management and partners do a good job highlighting my successes in the firm. I feel valued as an employee of the firm. But more attention needs to paid to teaching staff both formally and informally.”
  • “The world of auditing will always require extra hours than just 9 to 6. The firm understands that and promotes flexible work hours, making sure that staff’s personal lives are taken into account as much as possible.”
  • “The firm really tries to take steps to increase quality of life. Accounting is a very difficult industry to maintain work/life balance, and the firm has policies in place that work to address this. PTO is generous from the start, and staff is encouraged to use it. Small gestures (snacks during busy season, holiday raffles, firmwide holiday challenges) promote a sense of fun, which helps to diffuse stress. Health care programs focus on mental wellness in addition to physical wellness. Still, busy hours are long, and stress approaching deadlines can be intense. This is a problem with any accounting firm most likely.”
  • “The firm values all its employees and works with them to ensure everyone is being fairly compensated. During the pandemic, there were almost no layoffs. While bonuses and overtime were temporarily halted, those have since returned. The benefits provided (health insurance, 401(k), etc.) are standard for accounting firms.”
  • “Health insurance plan is quite expensive. Delay in matching contributions for 401(k) is a downside to the matching offered. Business development bonuses are an excellent perk, as is the ability to work on my own time.”
  • “Working from home during coronavirus has been a blessing in disguise. Telecommuting is hopefully here to stay! However, year-end raises were less than expectations, and no bonuses were issued. Health insurance is too expensive.”
  • “The firm has made salaries a lot more comparable to other firms in the past year. They give plenty of vacation days and allow for jeans in the office every day. The benefits package is average, particularly the low employer 401(k) match on top of the five-year vesting election. The rest of the standard benefits, such as healthcare and educational reimbursement, are average to above average, but not spectacular.”
  • “The firm creates an approachable and warm environment. Interactions between partners and staff happen often, and there is an open-door policy. We have a mentor program to assist in career development and help everyone actualize their goals. Promotions happen frequently, and if someone wants to advance in their career, the opportunities are just waiting for them.”
  • “Internal mobility is great; you just need to speak up. It may not happen overnight, but if you make your interests and career aspirations known, then the firm will work with you to help you pursue what interests you. The firm is a good size in that you don't need to leave the firm to find your next career opportunity.”
  • “You can always ask for challenging work. Promotion policies are kind of rigid. Promotions are merit-based but also depend on how long you’ve been with the firm.”
  • “The firm has demonstrated a clear and evident focus on continuing to develop younger staff and partners. And, in my experience, the firm has always been willing to promote those who deserve it.”
  • “They have a LEADS program that supports women and their development and growth. I am not sure whether there is a program for racial diversity. I am a gay man and am not aware of a program for LGBTQ+ within the firm. I also have never felt any negativity within the firm for being gay. Everyone is very supportive! There is also community engagement such as a lot of participation in Light the Night."
  • "Marks Paneth has so many interesting initiatives going on with regard to being eco-friendly, promoting diversity, and more. I would like to see more centralized focus drawn to all of these great initiatives."
  • “The firm does a good job of promoting female advancement with their LEADS program. Similar initiatives do not exist for racial, LGBTQ+, or environmental causes.”
  • “There are many women in lower level positions, but representation in upper management could use improvement. The firm recently improved upon this and created a women’s initiative called LEADS. Ethnically, the firm is very diverse. The firm has a large nonprofit client base and therefore there are a variety of volunteer activities offered. The firm could improve on their environmentally friendly policies.”
  • “The firm is transparent in its actions and makes every effort to stay current on hot topics and keep its employees in the loop. I have a very high level of confidence that the firm will continue to grow the next few years even more than it already has.”
  • “The firm has taken steps to ensure it’s in a strong position after Covid. With the complex issues and ever changing legal and regulatory landscape, the firm is well positioned to bounce back after the crisis. I feel like similar sized firms don’t have same culture of kindness and well-being that we do, and that could lead to staff burnout at other firms. The culture here is a definite strength.”
  • “The firm has grown consistently over the past 10 years, and I feel very secure working here. I think we will continue to grow our business and provide our clients with a wonderful experience. Considering what the pandemic has done to our lives, morale is great.”
  • “The outlook for the firm continues to improve each year.”
  • “I was able to do hands-on work throughout my internship and try a lot of different things. My managers asked what I was interested in and what I wanted to be involved in and never shied away from giving me those opportunities. And, I was able to turn my internship into a full-time opportunity!”
  • “Lots of great opportunities to grow. Able to move into different departments easily. Flexible hours.”
  • “My internship provided hands-on experience for what I was simultaneously learning in my college courses. It was a valuable opportunity to figure out which area of accounting I wanted to go into.”
  • “The work and training is very hands-on. Everyone is willing to help train and explain concepts I was unfamiliar with.”

Wellness Efforts

  • “Before the pandemic, the firm brought in massage therapists a few times a year to help the employees de-stress. During busy season, the firm sends out tips for staying healthy. The firm also has wellness programs where maintaining a healthy lifestyle and practicing healthy habits earn you points towards reductions on your health insurance premiums. They offer partial reimbursements for gym membership.”
  • “The firm really puts a great effort to help lower our insurance premiums by offering the 300 Fit program. They also help by offering counseling, the occasional massage during busy season, and a meditation seminar.”
  • “Wellness is clearly a priority for the firm. Financial incentives encourage annual physicals and other healthy activities throughout the year. Gym/class reimbursements reward actual attendance. Mental health is mentioned in newsletters. But a focus on stress handling could be improved.”
  • “When we were in the office, the firm did an incredible job with wellness efforts. My favorite perks were healthy food and on-site flu shots.”

 

Response to Anti-Racist Protest and BLM Movement

  • “The firm has stayed relatively silent on these issues. I do not mind this, as I feel it is not necessarily appropriate for an accounting firm to be promoting social issues. It would be nice to see some inclusive movements slowly phased in at the firm.”
  • “No public statements and no internal memo—which is disappointing. While the company does promote diversity with respect to women, the company does little in promoting diversity with race or sexual orientations.”
  • “I have not seen any responses—and there shouldn’t be.”
  • “The firm does an excellent job handling social issues. They do not have a political bias at all and make sure everyone feels included. From the top down, everyone is very professional here.”

Response to Covid-19

  • “The best part was our firm’s immediate pivot to remote work, which made me feel like the overall health and safety of employees comes first. It will be interesting to see how the firm handles the transition back to work that will affect all employers. Allowing remote work has been the best part of the pandemic, as I learned that my team performs very well virtually, and I appreciated the time at home and flexibility in our environment.”
  • “Our firm stepped up fantastically to support and set up remote work arrangements. They are also vigilant in providing communication regarding the pandemic and our responses to it.”
  • “The firm made it a point to keep all employees informed about what was going on and the efforts of the firm to keep the employees safe. I have never felt unsafe in the environment they created during the pandemic, and they have been overly understanding and respectful of people’s comfort level. They have not mandated people back to the office and have allowed people to continue to work from home if they felt more comfortable doing so.”
  • “Work from home has been pretty seamless. Almost all partners are good with it, and I think in the future most employees will be able to spend some time working from home and some time working from the office.”

Getting Hired Here


  • “They’re seeking intelligent, hardworking professionals with proven track records. The interview process lasted two hours. I interviewed with four individuals.”
  • “The ideal candidate is smart, curious, kind, able to work both independently and as part of a group, and committed to getting things right.”
  • “I went through three interviews when I came to the firm and was in contact with HR a few times before accepting the position. The ideal candidate is motivated and eager to learn.”
  • "As a recent hire, I can confirm that the interview process was transparent and clearly communicated the parameters of the position. Our team requires both technical and analytical expertise.”
  • “Please discuss two strengths and two weaknesses. Please give an example of a difficult situation you found yourself in and how you dealt with it. How would you deal with 11th-hour issues that arise?’
  • "Why are you looking to join Marks Paneth? What does this firm offer that you feel would benefit you in the next step in your career?”
  • “Why do you want to join the firm? what is your experience working with multiple partners and/or managers?”
  • “Why leave the Big 4 for a smaller firm? Why forensic accounting? What is your overall career goal?”

Perks & Benefits