So I'm sure all of you are familiar with the Moelis, Greenhill, Lazard, Evercore type of boutique shops in the banking world that are nearly as selective (or maybe even as difficult) and provide just as good of work environments as the elite bulge brackets. However, I'm wondering whether this applies to accounting firms as well. Most people in accounting are chasing the Big 4, particularly PwC/E&Y just as most people in banking (who aren't that familiar with the industry) lust after the bulge brackets and GS/MS in particular, but are there any Lazard and Evercore type of accounting firms that are much smaller but still work with elite clients and offer good exits? I'd imagine that these won't be as competitive as the elite boutiques in banking since banking is a smaller, more exclusive industry in general, but does something of this nature even exist or is it just Big 4 or bust?
That brings up another point: do you think that its worth joining a smaller, regional accounting firm over being a financial analyst or something like that for a company, or is it mostly Big 4 or bust due to the name/experience?
From what I have seen the answer is no. The best accounting firms are the Big 4. However, you may progress further faster at a smaller firm so that is something to consider.
Grant Thornton McGladrey & Pullen BDO Seidman
http://www.accountingmajors.com/accountingmajors/articles/top100.html
Also try Arthur Anderson
All of those are national firms, although I'd agree that they are quite good as well.
What about the whole concept of Big 4 or bust? Do you agree with that (if your intention is to go into corporate finance and not investment banking that is)?
Arthur Anderson, absolutely. Can't go wrong with them, you'll be able to work with some huge names in the energy business!
It's virtually Big 4 or bust in accounting. GT and BDO do okay, but there are few pluses to working outside of the Big 4 if you're looking for exit opps.
From what I have seen, the best quality accounting students go Big 4 and the ones who can't make it in the Big 4 go GT, BDO, and the others.
@nontargetbanker: I don't see why it would be Big 4 or bust. Big 4 is great for exit ops and for growth if you want to work your way up the ladder of a large company. However, my friend chose to join one of the fastest growing accounting companies in the US and is getting promoted left and right because he goes in at 8 in the morning and stays until 8 at night. The firm is growing to, and at this rate he could easily be partner by late 20s/early 30s (more likely early 30s).
But if you're going for exit ops/entrance to Bschool, Big4 is probably the way to go.
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