Are you planning to join the Big Four?

They are the biggest professional services firms in the world. They offer some truly exciting career opportunities on this planet. Any pro recruiter will attest to the fact that the Big Four — PwC, Deloitte, KPMG, and E&Y — give an added weight to your CV. Though mainly known for audit work, they also provide other services like tax, corporate finance, strategy etc.

Who can work for the Big Four

Most of their employees are CAs, MBAs, and engineers, though there are also people with specialization in other areas (myself being such a case). They usually hire fresh pass outs from campus and experienced people from employee referrals.

Why should you work with the Big Four?

1) They would sponsor you to undertake recognized professional qualifications like getting certified by the Institute of Chartered Accountants.

2) You’ll meet some highly talented people and develop a formidable network of colleagues. Also, you’ll get to work in a friendly environment and learn a lot.

3) A lot of investment bankers (and finance professionals in general) lost their job during the recent recession. But the Big Four did not face any major trouble even then and their employees did not feel the heat. So job security is a major advantage you have with these firms.

4) Being an employee of a Big Four firm earns you respect socially as well as professionally.

A few things to remember

1) In the initial years, work tends to be repetitive and somewhat monotonous, especially for the audit people. Your role becomes challenging as you gain seniority.

2) While the working hours are usually fewer than many similar organizations, things can be quite serious during busy season (usually January to April). Meeting deadlines and maintaining the quality of work is extremely important.

3) Depending on your profile, you might have to be away from home regularly for client meetings. While many people enjoy this, some do not.

Are you already a part of the Big four? What more would you like to add to the above list?

 

I'm conflicted between getting an MBA -> IBD/ER or getting an accounting MBA from my alma mater -> big4. There are upsides to both, but very serious downsides when you look at the big picture. I'm looking for a middle of the road option though.

How is recruiting for areas like advisory, M&A, consulting, and other NON AUDIT roles at big4? I speak for most people here: there's simply no way that I'd survive the drudgery of audit, but the other areas seem very interesting. The thing is, it's really hard to find info on them. Could you shed some light on the other areas? This would be very valuable for people who want to do interesting work, but not for 20 hours a day at an investment bank.

Get busy living
 
UFOinsider:
I'm conflicted between getting an MBA -> IBD/ER or getting an accounting MBA from my alma mater -> big4.

Are you kidding lol? How is accounting even a choice ... it is soooo mind-numbingly boring. Accounting IMO is for people who are not smart enough to understand financial instruments and economics (women :P ). Def. do MBA man!

 
CanadianPositiveCarry:
UFOinsider:
I'm conflicted between getting an MBA -> IBD/ER or getting an accounting MBA from my alma mater -> big4.

Are you kidding lol? How is accounting even a choice ... it is soooo mind-numbingly boring. Accounting IMO is for people who are not smart enough to understand financial instruments and economics (women :P ). Def. do MBA man!

I hope you are not implying that to understand economics and financial instruments you have to be extremely smart.

"Every man should lose a battle in his youth, so he does not lose a war when he is old"
 
UFOinsider:
....Could you shed some light on the other areas? This would be very valuable for people who want to do interesting work, but not for 20 hours a day at an investment bank.

Search the forum n00b.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

Analyst over accounting is an easy pick. IBD associate requires more thought because it's a CAREER decision, not 2 year hazing before buyside jobs. I'd like to know everything possible before going in, specifically, what options within big 4 will an accounting MBA + CPA and maybe CFA open up? I've looked at the other posts about non-audit big4 work, and I'm curious what this guy can add as well.

Audit is definitely out, I'm talking about the other areas. Whatever info you can add would be much appreciated.

Get busy living
 

I go to a bad place everytime I see kids I graduated with who think they're the shit because they do big 4 audit. My personal rankings of job prospects from best to worst go something like: FO, BO, Starbuck's barista, accounting.

In all seriousness though, does the big 4 ever turn people away? That's a serious question. Some of my friends from school that got in would lead me to believe the answer is it's never happened.... but you never know

GBS
 
GoldmanBallSachs:
I go to a bad place everytime I see kids I graduated with who think they're the shit because they do big 4 audit. My personal rankings of job prospects from best to worst go something like: FO, BO, Starbuck's barista, accounting.

In all seriousness though, does the big 4 ever turn people away? That's a serious question. Some of my friends from school that got in would lead me to believe the answer is it's never happened.... but you never know

Big 4 is a hell of a lot better than what you currently have, and perhaps ever will at this pace.

 
FreezePops:
GoldmanBallSachs:
I go to a bad place everytime I see kids I graduated with who think they're the shit because they do big 4 audit. My personal rankings of job prospects from best to worst go something like: FO, BO, Starbuck's barista, accounting.

In all seriousness though, does the big 4 ever turn people away? That's a serious question. Some of my friends from school that got in would lead me to believe the answer is it's never happened.... but you never know

Big 4 is a hell of a lot better than what you currently have, and perhaps ever will at this pace.

I like you.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 
trazer985:
Big 4 is about the only job you can have in finance that will enable you to start your own business and have the hours and funding to support it. No better exposure for entrepreneurs that don't know what they want to do yet.
You're speaking my language. My way of seeing is: who did better, the banks or Facebook? Facebook, hands down, and they had a ton of fun the whole time. Even if you don't make a billion dollars, having time for other shit is worth the tradeoff.

Still though, what are the recruiting standards for big 4 consulting, M&A, etc? Ate they as strict as BB/MBB?

Get busy living
 
UFOinsider:
trazer985:
Big 4 is about the only job you can have in finance that will enable you to start your own business and have the hours and funding to support it. No better exposure for entrepreneurs that don't know what they want to do yet.
You're speaking my language. My way of seeing is: who did better, the banks or Facebook? Facebook, hands down, and they had a ton of fun the whole time. Even if you don't make a billion dollars, having time for other shit is worth the tradeoff.

Still though, what are the recruiting standards for big 4 consulting, M&A, etc? Ate they as strict as BB/MBB?

Not nearly as stringent.

 
Best Response

It's funny - pretty much the only people in the world who don't recognize the Big 4 as the most valued and prestigious business career are bankers. (Don't believe me? Check out Businessweek's "Best Places to Launch a Career". Big 4 crushes GS every time.) The bankers, however, are the ones who are right, and the vitriol such as what we see in this thread comes from bankers' resentment that nobody else realizes that.

Here's the real story - Big 4 is a good career choice. They're aren't a whole lot of other places where you can be working with executives from F500 companies by your mid twenties. It is very common for varying amounts of Big 4 experience (typically 4-7 years) to be required as one of the basic requirements for consideration for executive finance positions. (Check out websites that post top executive jobs if you want to verify.) A career in Big 4 audit is widely regarded as the most efficient and effective way to score a top finance position in industry, and for good reason. That career progression is common.

Of course, audit work is mind-numbing. You work long hours for very low pay. However, people who want to succeed in business don't stay in Big 4 for a couple years of mind-numbing work, then go into industry for a moderately well paying accountant gig. They stay for 5-8 years so they can get a mid-level manager/executive job in industry that will position them to move up the corporate ladder. If you think about it, the only difference between starting a career in Big 4 audit vs. IBD is that in IBD, you work longer hours for pay that is only slightly higher at a per hour rate. The work for the first couple years is just as mind-numbingly boring for either career path, and the skill sets you develop are different in type, but not in caliber. It isn't until after a couple years that there is really a significant difference and the banking route becomes vastly superior in terms of career progression.

Bottom line - Big 4 is overrated in general but doesn't deserve the criticism heaped on it by bankers. It's not where the 0.01% go, it's where the 1% go. It's a good career for those who don't want to completely sell their soul but still want to drive in the fast lane.

...bring on the MS.

 

Long story short, I'm trying to see if there's a way to do finance work without it taking over my life permanently. B4 is stable and I know A LOT of people in finance with much more high powered experience who are unwillingly unemployed and it really scares me: I've been unemployed and it SUCKED. Again, the original goal is MBA -> IBD and I'm well informed on that path, and now I'm just looking at all the other options as much as I can before I go all in.

Anyone willing to help me out on this gets free drinks.

Get busy living
 

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