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November23 24, 2009. Atlanta, Georgia. 113. Z. I. Khamis, K.

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More people who know what they are doing, fewer grads, office space will change from A grade to premium, it will be much harder to get a job there, pay will increase, it will become more prestigious, retention will improve, the standard of work will increase, and much less compliance requiring staff input. It is not a decimation of the Big 4 at all. A reduction in the employment of graduates does not correlate to a reduction in the status and profitability of the firms at all. It is the other way around. Status and prestige of firms is determined by how profitable the partners are the "profit per partner" figure not by how many graduates or junior staff they employ. Traditional areas will be hit but not by as much as the 75% you had in your earlier post 200 50 grads in the Melbourne office,EY UK are saying they will soon be down 50% in the number of graduates they employ, and this is the early stages of automation.

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The main reason for the rise is that more and more young people continued their education into their 20s as the economy shifted from manufacturing to information and technology. When theyre enrolled in school, most dont make enough money to live independently. Before 1900 in the United States, it was typical for young people to live at home until they married in their mid 20s, and there was nothing shameful about it. They usually started working by their early teens it was rare then for kids to get even a high school education and their families relied upon the extra income. Virginity for young women was highly prized, so it was moving out before marriage that was scandalous, not staying home where they could be shielded from young men. In most of the world today, it is still typical for emerging adults to stay home until at least their late 20s. In countries where collectivism is more highly valued than individualism in places as diverse as Italy, Japan and Mexico parents mostly prefer to have their emerging adults stay home until marriage. In fact, even after marriage it remains a common cultural tradition for a young man to bring his wife into his parents household rather than move out. Until the modern pension system arose about a century ago, aging parents were highly vulnerable and needed their adult children and daughters in law to care for them in their later years. This tradition persists in many countries, including the two most populous countries in the world, India and China. In todays individualistic U.