Big4 Acc vs Corp fin. for future M7 MBA
Hi WSO
Currently working in big4 as S2 in audit & business advisory (very little advisory, mostly audit). Non-target undergrad but have good stats. Ultimately want to apply for M7 but I've read a lot how audit isnt really preferred with the adcom. I have already worked 3+ years in accounting but now do have an exit opportunity towards coprorate finance in an Fortune 500 MNC (FMCG industry). It would however be bit of a reset and would probably take longer to become manager as compared to my current big4. So what do you recommend? Stay in accounting and become manager or spend a few years in corporate finance before applying. Really confused. TIA
Ah, the classic conundrum of Big 4 accounting versus corporate finance when eyeing an M7 MBA! Based on the most helpful WSO content, here's a breakdown to help you weigh your options:
Big 4 Accounting: - Pros: - Recognized career path with a clear progression. - Manager title can be achieved relatively quickly, which is respected and can be a strong point in your MBA application. - Public accounting experience is valued for its rigorous training and exposure to various industries and financial practices.
Corporate Finance in a Fortune 500: - Pros: - Experience in corporate finance, especially within a well-known Fortune 500 company, can be very attractive to M7 MBA programs. - You'll gain direct industry experience, which can be beneficial for post-MBA roles. - The role may offer more strategic and analytical work, which is often sought after by MBA admissions.
Given these points, if your ultimate goal is to strengthen your application for an M7 MBA, transitioning to a corporate finance role could provide you with the diverse and strategic experience that top business schools often look for. However, if the managerial title and speed of advancement are more critical for your career trajectory, staying in Big 4 and aiming for that manager role might be the way to go.
Remember, MBA admissions committees look for leadership potential, impact, and professional progression. Both paths can lead to success; it's about how you leverage your experiences and tell your story. Good luck, and may your career path be as fruitful as a banana grove! 🍌
Sources: Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, Accounting vs Finance: Part 1 – Career Paths, Accounting vs Finance: Part 1 – Career Paths, Is this a feasible plan to get into investment banking with an accounting background?
Is the corporate finance role a setp up in title/comp? I feel like you should at least shoot for something at/above your level.
What do you want to do post MBA? IMO unless your stats are superb, I feel like an M7 is a reach for an audit background. T15 might be a better bet, and depending on what your post MBA goals are, there may not be a huge difference in outcomes.
The corp fin role is on par with industry exit opportunity norms from big4. i.e. Senior Associate to Assistant Manager/Analyst FP&A. But this is true in only official designations (which maybe is what matters?). In essence however, the no. of DRs below me or level in the overall hierarchy may be a bit low than my role in firm.
Honestly, haven't thought much about post-MBA but maybe breaking into PE or staying in corp fin. but eventually it is entrepreneurship either way.
Just a heads up, it will be incredibly difficult (close to impossible) to break into PE post MBA with a big 4 and/or corporate finance background. Your best bet would be to get into IB after your MBA then make the switch.
Noted.
So, should I make the switch? Assuming on par role. Already made SA in audit.
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