1/13/15

Hello friends,

I will be graduating in a few months and I am going to start a Internal Audit Consulting position full time at Bank of America. After reading more about the career it seems like it may be a path where one can easily get pigeonholed in. I was wondering if this is in fact true since I am not sure and also what are some of the "exit opportunities" for internal audit.

As far as future plans go I would eventually like to enter an MBA program and transition to management consulting but I don't know if this is the right path to take me there eventually.

Any help is greatly appreciated!

Comments (11)

1/13/15

Both MBA schools and management consulting firms do not value internal audit experience. Internal audit is seen as something where you don't use any strategic or problem solving skills. It's not seen as a "thinking" job. You may agree or disagree but that's just how it is.

If you are serious about going into Management Consulting, Internal Audit is certainly not the way to get there. You could try investment banking, corporate strategy, Big 4 advisory, etc. Or you could even gain a lot of solid industry experience in one particular industry and use that as your selling point.

Financial Modeling

1/13/15

Internal audit is no bueno. The only avenue I could see where internal audit would lead to a successful career is if you worked at a smaller company (non-financial) where you could get a good understanding of how everything works and use IA to meet everyone and then jump to their finance group. IA at a big company would be the worst - IA at a big bank would be even worse.

I'd take another avenue for sure.

1/13/15

I'm not sure about Bank of America, internal audit within industry jobs is usually something that you do for a 1-2 years and subsequently move to other positions within the company.

1/13/15

Dang I wish this thread existed before I accepted my offer :P.

'll be doing internal audit at a bank as well like OP and I was wondering would it be possible to jump ship after 2 years in an internal audit role to F500 corp fin.

1/20/15

What exactly does audit entail? It's account related right?

1/21/15

It's not accounting related at all. Unlike analyzing a financial statement like a external auditor, an internal auditor does things like risk and control testing for compliance purposes.

5/11/15

I have a similar dilemma. I am going to be a SA doing IA at a large bank. Was wondering if anyone on this thread could let me know their honest opinions in terms of my eligibility for full time front office recruiting.

5/11/15

I was in a similar situation - left big 4 after 2 years and joined the internal audit department of a F20 company. However, I hated it for the same reasons and was able to network internally into a FP&A (revenue forecasting, budgeting and planning) role. It should be very doable. Just don't stay in internal audit too long.

5/11/15
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