Advice: Becoming a Big 4 Partner/Sr. Partner
It has been my goal since my senior year in high school to become a senior partner at a Big 4. I am now a rising sophomore in The McCombs School of Business at The University of Texas. I am in the Master of Professional Accounting Program and will be graduating in 2017 with my Bachelors and Masters in accounting. Hopefully by the time I graduate I will have sat for the CPA and passed all sections. Now that I'm starting on the path towards a career in the Big 4 post-graduation, I am looking for advice that will help me achieve my career goal.
Advice that would be most helpful for me would pertain to earning an internship for next summer (preferably at a Big 4 or equivalent company although I know that may be unlikely due to their preference for rising seniors). I was a communications intern at Time Warner Cable in the summer of 2013 and I am currently a finance intern (FP&A) at the same company. However, any and all advice is welcome so that myself and others interested in the same career path will learn a bit or two.
Thank you!
.
I will preface this by saying as someone just starting out at a Big 4 firm, I can't say too much on my personal experience with the process (as I have none). I have, however, done a lot of research on climbing the ladder at a Big 4 firm so I will share with you what I think would be best for you in your current situation.
You're going to McCombs which is like the top rated accounting program to be in, so you have that going for you. I don't know how competitive it is to get internships there, but I can't imagine a firm turning you down once you enter there "range" (two years out of interns, a year out for full-time) unless you are failing or a social pariah. I think it would serve you better now to start getting a feel of what you want to be doing down the road. If you're looking at staying till Partner/Sr. Partner at a Big 4, liking of what you'll be doing until you make it will go along way. Who knows if you'll want to stay till Partner if you hate your job or role. Hopefully you'll have a feel for an industry or line of service (tax/audit/other) by the time you graduate, which will make focusing on career progression a little easier. Getting the CPA out of the way before starting is a good idea too.
That said, from what I've heard from friends who already work at Big 4 firms, or from what I've read, it's basically an "up or out" mentality. Lots of people seem to jump ship between 2-5 years in, going on to industry jobs, other firms, or whatnot. Everyone else grinds away, and as long as you don't udderly suck at your job, promotions are pretty structured up to Senior Manager positions (for example, 2-3 year as an Associate, 2 as a Senior, 2-3 as a Manager, ect.). Once you hit Senior Manager level, it seems to become more of a office politics game and less meritocratic. Here's a good article to read about the experiences of one Senior Manager's experience (and some staunch opinions both positive and negative in the comments section) trying to become a Partner:
http://goingconcern.com/post/pulling-back-curtain-making-partner-big-4-…
In any case, it seems that one way of another if you stay long enough becoming a Partner shouldn't be too hard to achieve, at least compared to other goals touted on this site like breaking into private equity or running your own hedge fund.
Thanks for your insight! The article was very informative. I have noticed that a lot of the posts I've read say that the path is very structured once you become a manager. I've also heard about getting a MBA 4-6 years into the job. Do you have any thoughts on that?
Take this at whatever level you will, but your post makes me think that you're trying too hard. Getting an audit position at a big 4 isn't rocket science, especially at the school you're at. It would honestly pay off more in the long-term if you spent more time partying / building your social skills. So many accountant nerds never make it because they're just that, accounting nerds. At the partner and senior partner level, its imperative that you can manage corporate relationships and bring in new clientele.
Also, don't worry about taking the CPA until after you graduate. From my understanding (and having many friends and family in the Big 4), they give you a few months to pass the exam before your start date and set you along an expedited path usually taking 2-3 months max to complete.
The real work starts after you get hired. Becoming a partner at a Big 4 is a long, drawn out process that requires you to get along with your peers and manage your subordinates extremely well. Billing the most hours, killing your performance reviews, and working well with the companies your auditing are all a part of it, too. I guess I would focus on becoming a complete person with the appropriate accounting knowledge but even stronger social skills.
Thanks for your advice. I will definitely work on that.
"It has been my goal since my senior year in high school to become a senior partner at a Big 4."
This just makes me laugh. Haven't set foot inside a Big 4 office and already want to become a partner. I think its something like 1% of an incoming class will make it to partner. Its no cakewalk.
Now that that is taken care of, to answer your question, its tough to get into Big 4 as a rising Junior. What I did was take an industry accounting job and then pursued Big 4 + National firms the next summer. Not only did I get some experience that I could talk about but I got recommendations from coworkers who were former Big 4 themselves. You go to a great program and unless you have the personal skills of a rock you will probably get some offer from a top firm. Lastly most firms only care as long as you are able to sit for the exam by the time.
@"CorpFinanceGuy" also made some very good points
Biggest advice is to get ready for 15 grueling years of audit or tax. Next two advices would be - 1) Enjoy college as much as you can, and make the best out of it. Join a lot of clubs, take on leadership positions, take trips, and become an interesting person. 2) Work on your oral communication skills, as well as leadership skills. Effective communication with the clients will help you tremendously throughout your career.
Ullam exercitationem tempore qui est. Quis et omnis a iure molestias ea non. Vel quos sed commodi minima earum ducimus. Placeat tenetur praesentium inventore ducimus sint et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...