Consulting Exit Opportunities Amongst the big 4, which firm has the best third party risk management (tprm) practice in terms of revenue, stability and growth? It’s more than lip service. Search. Joey: I’m a manager of the Growth Equity finance team at a Private Equity firm in Boston. Joey: I did, yeah. Transaction Services, Transaction Advisory Services, Deals Advisory, Advisory Services – these are all the first destination points aft… A lot of accountants find themselves working more than 40 hours per week, even after moving out of Big 4. Candidates might choose to look into Chinese Investment Banks as an alternative option, as often their requirements are lower. At Big 4 firms you’re on different teams every couple months. Viewing 10 posts - 1 through 10 (of 10 total) Here’s a role where you could put use your skills to use for implementing massive … The gravity of clients at the Big4 also allows for great exit opportunities that are arguably better than those of BigLaw tax associates. Joey: Just the client base that they have, the resources, and the people. My public would be a month and a half, a little bit of rope there, but I’d say the first month you’re not working crazy hours, maybe 8:30 to 7:00, but then when you’re getting towards the end of it, it all depends on what shape you’re in, but midnight is not atypical for closing week. After working for a Big 4 firm, it’s not exactly an easy jump into major investment banks, even for a candidate who “exceeded expectations”. From Big … From a recruitment consultant’s perspective in Hong Kong, there are many good reasons to start off working in the Big 4. - The ramp closures are needed for reconstructing the southbound I-75 exit ramps and for recycling operations at the ramp to Rochester Road. Most auditors go into corporate accounting (senior accountants, (assistant) controllers, internal audit, or FP&A positions. You're not alone - plenty of people quit, and completion of a training contract with a Big Four accounting firm offers various opportunities. You could become a sector specialist and take on a switch thereafter. So does that mean Big Four accountants have their pick of roles in corporate […] When you are at Big 4, you will specialize in specific type of clients for Financial Services (i.e. The longer you stay in Big 4 after the Manager level, the more you price yourself out of the market for a move into industry. Same salary. There were still relatively stable jobs available right out of school, so it’s what I picked. You are now more than a “certified” Big 4 auditor, with prime experience in leading teams, interacting with clients and much more. Transaction Services, Transaction Advisory Services, Deals Advisory, Advisory Services –  these are all the first destination points after leaving the Big 4. Bolles Harbor (Hoffman Memorial) - LaPlaisance Rd exit off I-75, City of Monroe. Maybe: equity research, investment banking. Cigars, fast cars, a sailing boat, a summer house, and money in separate funds. Since I wasn’t sure, I just took a bunch of interviews and listened and talked to people and networked, which helped me land my current job. Joey: But every job was pretty reasonable. Joey: Yeah he got a great referral bonus, most of the Big 4 have great referral programs. A solid two to three years’ experience would put you as a “certified” Big 4 auditor, with all your fundamentals set. 75 percent of my corporate clients seeking to fill accounting or tax roles prefer or require Big Four experience. This is the part where your connections and networking kicks in, along with your character, your skillsets and even your certifications. 4:30 a.m. Wake up and work out "[My wife] is up at 4:50 a.m. to work out and drags me out of the bed," Ballard said. Auditing is an endless cycle that could get tedious over time. To speak to one of our recruitment experts in Hong Kong, submit your CV to Links International or contact us now. Joey: I have no idea. In this mini-series, we explore some of the most talked about Accounting & Audit exit opportunities to uncover what work-life reality is really like, what it can do for your career trajectory & the available exit opportunities. Top 3 firms charge clients 3-4 times more per day than Big 4 firms due to the nature of the work, and this gets reflected in the average compensation for consultants. Found in Troy, MI, the exit off of I-75 to Big Beaver Road is Exit 69. Articles in this mini-series include: Should I work in Big 4 … Save my name, email, and website in this browser for the next time I comment. From Big … Joey: Yeah the audits. Most Big 4 accountants who want to leave do so when they reach manager position, since their career trajectory and earning potential really grows after getting that promotion. Joey: It depends on the job. Public sector. Moving on towards the next exit point, you are now a Senior Associate or a Manager with four to five years’ experience. Big 4 Audit vs. Middle office at BB Investment bank (Finance / Ops ) FSO Audit? Internally, switches are not as easy as you think, as there are various policies with specific grade level requirements. The exit opportunities include investment banking, corporate banking, corporate development, private equity, and pension funds. All of the Big 4 have various services within their TS practices including due diligence in various forms, restructuring, accounting advisory and valuation among others. last updated – posted 2011-Apr-28, 3:51 pm AEST posted 2011-Apr-28, 3:51 pm AEST User #421106 402 posts. I left Public Accounting in May 2015 so things may have changed. By Hugo Tam – Associate Consultant, Banking & Financial Services Recruitment, Links International Hong Kong. Also – you are working closely with small teams and focusing on the same goal of doing the best job you can for your client. I will answer this question with 4 caveats: 1. Although it is unlikely that you will be placed in a front office role without connections, it is highly possible that you will be placed into an in-house finance role. James: Not to mention, I think I saw you at the Christmas party at least two or three years after you had already left. Audit gives you the face-to-face experience with clients and you also get to see all of the different facets of the businesses to which you are scheduled on. DCF models, P&L analysis, sensitivity analysis, income approach versus market approach, proposing pitching materials, conducting industry researches, are all the key words that hiring managers look for, the words that accentuate your resume with bright colors. Articles in this mini-series include: Should I work in Big 4 … Your email address will not be published. That’s Deloitte, PricewaterhouseCoopers, EY, and KPMG. James: You came in as an Experienced Associate and then got promoted your first year? At the Manager level, expect a small increase in salary — and, perhaps, be willing to accept a lateral for an opportunity with advancement potential. The next jump was getting to the Big Four, which I thought would give me some more audit experience and give better exit opportunities down the road. James: In busy season, what were some of the hours? So I submitted my resume to a buddy that worked at PwC, got an interview, and was offered an Audit Associate position. I thought accounting was challenging, a couple of my buddies were doing that, so I chose Accounting. They will also have the confidence to launch and ensure the success of a new business venture. Then I worked 9 months in the same company on advisory/consulting. A common exit opportunity for many in Big 4 TS people is to go to…wait for it…another Big 4 firm. Former consultants who want to make changes to their country or the society on the … Your email address will not be published. Big 4 Restructuring Italy: The Recruiting Process, Advantages and Disadvantages vs. Investment Banking, Compensation, Exit Opportunities, and More. So I submitted my resume to a buddy that worked at PwC, got an interview, and was offered an Audit Associate position. A CPA is almost a must; coming out of the Big 4 without a CPA is alarming, unless you are audit function-free. James: So that’s more of a finance role than an accounting role. Great business school from an accounting/finance standpoint. This gives you better exit opportunities, such as moving into private equity or senior management at top companies. Since this sector is Greater China centric, Mandarin is absolutely essential, therefore cultural dynamics are also dissimilar, so personality fit is critical. © Copyright 2017-2018 - Big 4 Bound, LLC -. Join 307,012+ Monthly Readers. Sector focus could also be a bonus point, as related exposure and experience always play a role. Project Finance. posted 2011 … The next jump was getting to the Big Four, which I thought would give me some more audit experience and give better exit opportunities down the road. You're not alone - plenty of people quit, and completion of a training contract with a Big Four accounting firm offers various opportunities. You get to work with smart people, young people, people that want to move ahead. Off I-75 at Luna Pier Rd, Erie Twp. I think it’s because my brother went there. It’s a similar environment to PwC in that it’s young people that want to work hard, the work is challenging and there is some pressure, all things that I wanted, so I thought it was a good fit. I was a little below the GPA requirement, which I think it was a 3.5 and I had a 3.4. James: So Joey, where did you go to college and how did you get into accounting? That won’t happen until you hit retirement when working in the Big 4. What you see on the Big 4 websites is simply marketing spiel to help the firm sound valuable and all-encompassing, and are services your Partner will try and sell to clients (but rarely actually wins). Why’d they let you in? In this mini-series, we explore some of the most talked about Accounting & Audit exit opportunities to uncover what work-life reality is really like, what it can do for your career trajectory & the available exit opportunities. – 2021 Asia Salary Guide, Top 3 Benefits of Outsourcing Payroll in Vietnam, A Market Update on HR and Administration jobs in Hong Kong. CFA and familiarisation with US GAAP or PRC GAAP is a plus. The training, work ethic, culture, deal flows and the people are all part of the draw (and of course the name counts too)! - Southbound I-75 exits at Square Lake, Adams and 14 Mile roads will remain open. Whether you’re in planning or post fieldwork or closing down a binder, you’re always doing something on one of your jobs, or you’re getting pulled onto another job, so it just depends on where you are. Required fields are marked *. I'm back with another video requested by you guys!You are probably wondering what sort of jobs you can pursue after getting into a Big 4. Most clients seek technical skillsets, as they know that the deal flows within Big 4 firms are incomparable to bulge bracket banks and investment banks. And for obvious reasons, seeing “Big 4 audit training background” on a candidate’s CV also attracts the attention of a lot of employers who are seeking hardworking candidates. Joey: Yeah. If you’re an accountant, Big Four is the place to start your career, audit or tax. James: And you submitted your resume through your friend and they kind of helped push it along? Does anyone know of any other opps with … I’ve seen a few opportunities within Big 4 that are interesting, but not sure I want to travel ever again. James: And he’s happy because referring people to the firm is some of the easiest money you can make. Corporate Banking Exit Opportunities. James: Great school indeed. No, I was young when I was there, so I always had someone above me. Other options could be small private equity houses and family offices, and, if you are willing, the path back to back office roles is always open. And, if you can just be patient, you will soon be in the upper management within the Big 4, looking forward to heading down the long road with a formidable retirement life ahead! So I started to look and started to figure out what I wanted to do next. For PricewaterhouseCoopers, for example, a manager grade is required before a switch will be considered, or at times, offering a spot in Transaction Services could be part of a retention strategy by the management. Finance, especially the high level kind is relatively unmatched. A solid two to three years’ experience would put you as a “certified” Big 4 auditor, with all your fundamentals set. When you go through the orientation at a Big 4, they will talk about the power of your network and relationships. Forum Regular reference: whrl.pl/RcIbMM. Most people don’t aim to become partner as their end goal; instead, they look for specific exit points that will help to build their career. At the Senior level, expect a pay increase in a move to industry. In fact, it’s not even close. That’s why they let me in. A lot of the clients we coach ask about moving into more strategic & commercial roles after spending time in traditional accounting & audit, but don’t know where to start or even what opportunities exist …so-much-so that we’ve put together a map of the landscape of accounting exit opportunities, which I encourage you to check out! Transaction Services (TS) is the desirable option, as many ambitious auditors seek a front office career. James: Looking back at PwC I know you said it was probably one of the best things you did for your career, what do you think helped out the most from your time working there? Big 4 Consulting Exit Opps Bsc Economics & Finance vs Big 4 School Leaver Big 4, Finance in Industry or IBM Consulting? Joey: Exactly, yeah. This mini-series intended to give you a quick and dirty overview to some of the most talked about Accounting & Audit exit opportunities. You might have switched between the Big 4s, been placed into Transaction Services, or perhaps you are still cracking on with auditing. James: So what’s your future looking like? James: Is it weird going from PwC to a smaller PE firm from a people perspective? You’d have like a September 15th deadline for your June 30th close, then you’d have a November 15th for your September 30th close. Transaction Services (TS) is the desirable option, as many ambitious auditors seek a front office career. The main areas I am concerned with, are current and future earnings as well as exit opportunities The big 4 firm offers ACA qualification where as the IB offers ACCA. ECM/DCM- are there exit oops or do you stay in the career for life? Whichever exit you take, Links will be your career companion and will always be looking out for your life after Big 4, seeking to help you reach your greatest potential with the best suited role for you. If you're training as an accountant with the Big Four, the chances are you're thinking of leaving of leaving when you've gained your ACA. James: What were your days like, both in busy season and non-busy season? So that's where I'm at now. - Starting Saturday morning, crews will close the temporary southbound I-75 exits to Big Beaver and Rochester roads. Joey: Yeah – I am grateful for the opportunity to work in such a great environment for such a great firm, but I wanted to explore my options.. Archive View Return to standard view. MBB vs BB IB? If you are looking to try hedge fund, and then broker dealers, and then private equities, then try mid size firms or smaller firms (although none of those firms are likely to have big investment banks as clients). Nonetheless, Big 4 firms are also respectable career launching pads – offering the same kind of exit opportunities as MBB, although the quantity and quality (pay) are usually lower. f you can just be patient, you will soon be in the upper management within the Big 4, looking forward to heading down the long road with a formidable retirement life ahead! Big 4 Audit - Exit Opportunities. McKinsey & Company. Whenever you had a question, which for me was all the time, being young at fresh you really don’t know a lot about anything, really. Teams like Valuation and Business Modelling, Restructuring, Corporate Finance Advisory, or M&A Advisory tend to bring on more exposure. Auditing is an endless cycle that could get tedious over time. 2020 Rank 1 . Are you close to the first or second exit? What’s not to like? Transaction Services branches off into many teams and other services, from planning, to execution, to completion; specific teams within TS could have a very different outlook. This particular post covered Big 4 Financial Due Diligence (FDD) — a subset of the Transaction Services (TS) department, with other roles coming soon! I’d always want to go back. Bottomline: Big 4 offer attractive careers, but go for MBB if you can About 1/4 mile past DNR boat launch entrance. lfod. I had no idea what I wanted to do, but I knew I wanted to be in business. This is the first exit point. I was only a senior there for like three months, so I didn’t really get to enjoy the complete flexibility, but that was probably better for me. Free Banker Blueprint + Joey: I went into a General Analyst role, where I could do fund financials, investment analyses and that sort of thing. James: Did you go through a busy season as an associate? Mergers & Inquisitions. Makes me wonder if they planned it that way. None of these firms have a monopoly on the services offered so if you’ve heard good things about Deloitte as opposed to your living hell at PwC, you may jump at the opportunity … https://business.vanderbilt.edu/news/2019/10/09/life-after-the-big-4 The Big 4 firms in management consulting are Deloitte Touche Tohmatsu (Deloitte), KPMG International (KPMG), PricewaterhouseCoopers (PwC), and Ernst & Young (EY). 2. It makes more sense to use a TS role as a springboard into investment banking or the internal IB team (“Corporate Finance”) at the Big 4 firm, and then move into PE from there. Joey: Yup. I got promoted to Senior that next year. The longer you stay in Big 4 after the Manager level, the more you price yourself out of the market for a move into industry. Joey: I guess non-busy season you’re always on something, you’re always prepping for something, so you have to be organized. The term “Big 4”, however, comes from the accounting industry where these four firms dominate the market. As a third year I was in pharma/non-profit, and I’d kinda get crushed at all times of the year because of the deadlines were so spread out. Top 3 firms charge clients 3-4 times more per day than Big 4 firms due to the nature of the work, and this gets reflected in the average compensation for consultants. Joey: A little. Exit Opportunities Definition: Opportunities for jobs at other companies when a person is leaving his or her current employer Example: After working at a Big 4 consulting company, there are a lot of good exit opportunities. Big 4 FS Audit exit opportunities London I have spent the last 3 years on a school leavers scheme at a big 4 auditing big banking clients with fairly complex pieces of work and have received the top ratings with solid feedback from managers/senior managers. Or are you still unsure about an exit? I learned a lot about the practice and about accounting from doing the work. Joey: Yeah, exactly. My fiancée actually left a year ago and she’s like “Aww I miss it so much.”. The pay is higher as well. I think it sets you up if you want to move to an investment banking job if you can get that or a PE job like I did, you’re ready for the hours and the deadlines. I've seen plenty of Big4 tax associates go to clients as VP of Tax, Tax Director, etc. Below are some of the common exit opportunities for each of the work streams: Exit opportunities from transaction services: Good fit: financial planning and analysis, deal team in a PE or VC fund, Financial advisor roles in corporate finance firms. After a year at my firm though, I was working on small jobs, and I  wasn’t sure if I wanted to do audit for the rest of my career, so I explored a change. Joey: I’m happy where I am right now with what I’m doing and who I’m working with, I’m fortunate enough to have really good bosses and it’s still challenging and keeps me working hard. The Big Four firms did some recruiting out of Stonehill, but they have GPA requirements just to get an interview. 2021 Best Consulting Firms for Exit Opportunities # 1. Here I work with the same people every day, so it takes some adjusting. It was definitely a lot easier for me to get an interview as an experienced hire than a campus hire. – big banks, hedge funds, private equities, broker dealers, insurance companies, REIT, etc etc). The main disadvantage is that corporate banking doesn’t give you access to the same exit opportunities as investment banking. Big 4- Banking and Capital Markets- Exit Opportunities This topic has 9 replies, 6 voices, and was last updated 6 years, 2 months ago by nosleep135 . At PwC you have so many resources and people that are so smart that can help you along and guide you along the way. Ramped concrete fishing walkway with safety rail. Luna Pier - Concrete walkway with easy access from a blacktop parking lot. Exit opportunities from Valuation and Appraisal: I have +5 years experience in implementations/CM work. If you aren’t going to be partner, get the hell out.In a 2016 research paper published by the University of Tennessee, the authors outline average earnings through age 37 for CPAs in the following buckets:1) Never leave public 2) Leave after senior 3) Leave after managerNo surprise that those choosing to stay in public can expect to earn $ The pay is higher as well. SCORE 9.881. 4:30 a.m. Wake up and work out "[My wife] is up at 4:50 a.m. to work out and drags me out of the bed," Ballard said. Between technical skills such as reading financial reports and soft skills such as working with clients, after the first 5-6 years these professionals have gained the experience they need to pursue new opportunities. James: So you weren’t working remotely with your PlayStation on trying to win a few Stanley Cups? Top 5 Things to Note About Employment Contracts in Hong Kong, Redundancy Laws in Hong Kong – What Employers Need to Know, 2020 Legislation Updates & Stimulus Measures Comparison Chart, HR Leaders Should Know the Difference Between PEO & EOR, Top 5 people metrics you need to be a great HR business partner, What You Need to Know About Single Touch Payroll Phase 2, Embracing the Challenges of Recruitment – Employee Stories, Top 3 Reasons the Best HR teams Use Outplacement, What You Need to Know About Data Privacy in Asia Payroll, How Much Should You Earn? Both have similar starting salaries. What are you thinking? This is the first exit point. Other exit opportunities depend on how long you’ve been working in the TS group: Best highway exit ever. At the Manager level, expect a small increase in salary — and, perhaps, be willing to accept a lateral for an opportunity with advancement potential. Joey: One of my buddies is in the tech audit practice at PwC and he submitted it for me, so it was kind of a launchpad from there. Then a different Big 4 contacted me with a hefty 30% increase in salary for the same job. If you're training as an accountant with the Big Four, the chances are you're thinking of leaving of leaving when you've gained your ACA. Just go over every now and again just to make sure that the screensaver wasn’t on. Human Resources & Administration Recruitment, Banking, Financial and Accounting Services Recruitment, Sourcing, Supply Chain & Manufacturing Recruitment, Banking, Financial and Accounting Services Jobs, recruitment consultant’s perspective in Hong Kong. James: Did you know you wanted to do audit versus tax within the accounting realm? My class picked majors in 2008 during the financial crisis, and accounting was kind of the backbone of the business majors. Exit Op varies depending on connections and skillsets you gain in the Big 4 firm. How does that actually work? Then I was promoted to Senior Analyst where I had to review that stuff and then to Manager where I get special projects, I do valuations, and then I review some fund financials. Exit opportunities are numerous for MBB alumni, including top leadership positions such as CEO or vice president at Fortune 500 companies. I mean, looking back now, I mean going to the Big Four is probably the best thing I did, especially in accounting, because you do learn a lot. 1 I definitely wanted to audit versus tax. At the Senior level, expect a pay increase in a move to industry. As of 2020, they are the four largest consulting firms in terms of revenue. On a non-client day, I’d be prepping for planning work or reviewing work papers on the closing tab of the job just to get the file done to file it away for that year. Joey: I went to Stonehill College in Easton, MA. I still miss that environment. Did you go right into that role from PwC, or did you go into an accounting role and then work your way to the finance side? James: So when you got promoted, had you already started looking for new jobs? This gives you better exit opportunities, such as moving into private equity or senior management at top companies. I’m looking for new opportunities within Change Management. by James | May 19, 2018 | Audit, Career, Employee Interviews | 0 comments. So… decently interesting work, good hours, and the potential to earn in the mid-six figures once you reach the top levels. McKinsey & Company is a privately owned management consulting firm. It seems like a lot of people enter Audit with the intention of an exit op. I ended up taking a position at a mid-tier accounting firm, which was a great fit for me right out of school. What about outside the Big 4? Is the work’s the same but there’s just a lot more of it? But accounting is not for everyone, so you have to make a decision on what you want to do. Join 307,012+ Monthly Readers.