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Hi all,

I've got an offer from KPMG TS. Currently I'm working at other BIG 4 but in audit department.

Would you guys make a change to TS if you would eventually (let's say in 1 year time) like to land a strategy consulting gig?

Comments (20)

  • itsinthebag's picture

    Yes. TS > Audit in all aspects. Note that none of your audit/TS skills are directly transferable to consulting, not sure why you didn't just apply to the consulting arm of any Big 4.

  • TurboMonkey69's picture

    There were no offers in management consulting (at BIG 4) when I was applying.

    What I have to add is that TS job will give me 17% less money and I will be some kind downgraded -> in audit I will be a senior next year, in TS I will be 2 year consultant or something.

    I'm a little bit skeptical about this TS offer. I think that I have a shot in a one year time in consulting (even outside BIG4) and if TS will not be interesting my exit opportunities will be significantly limited next year.

  • MistaBooks's picture

    You would taking a cut in pay... that doesn't seem possible...still worth it regardless

  • In reply to MistaBooks
    itsinthebag's picture

    MistaBooks:
    You would taking a cut in pay... that doesn't seem possible...still worth it regardless

    It's weird you would be getting a pay-cut, but you should expect a downgrade in level as you don't know anything about the transaction process. You can't expect to lateral over at the same level.

    Also, you are correct that your opportunities will be limited in TAS. It's much more niche than audit, but a lot of people in TAS go straight into MBA programs. Former manager of mine ended up at Northwestern.

  • Karembeu5163's picture

    As others have said, I still think TAS will give you better opportunities than audit, hands down.

    What TAS group is it? Valuation, RX, M&A? Office location?

  • TurboMonkey69's picture

    Right - let's say I will take TS job. And in 10 months I will say that this is not it.

    I can't be audit senior because I don't have 2 years of audit experience.

    My possition in accounting / controlling will be downgraded because probably I will stop my CPA

    My exit opportunities will be limited. Probably if working very hard that year I could try to lateral into IBD but chances to get an offer will be slim.

    Let's say I will stay in audit. It's a shit job. Ok. But I have almost one year to prepare for i.e. consulting recuitment and then change audit for better than TS pay and better than TS opportunities.

    Please check my reasoning.

    (position is in Europe, don't know exactly the team but probably FDD / Restructuring)

  • Hugo Stiglitz's picture

    For sure have to make sure what part of TS you're in. TS is pretty broad within the Big 4, it could mean FDD or valuation, or just accounting advisory (i.e. really tech. accounting issues involving m&a like carvouts, IFRS conversions, etc.). Its essential that you know what group you're going into, the latter will land you exit ops primarily in SOX compliance... not fun.

    Hugo

  • In reply to TurboMonkey69
    itsinthebag's picture

    TurboMonkey69:
    Right - let's say I will take TS job. And in 10 months I will say that this is not it.

    I can't be audit senior because I don't have 2 years of audit experience.

    My possition in accounting / controlling will be downgraded because probably I will stop my CPA

    My exit opportunities will be limited. Probably if working very hard that year I could try to lateral into IBD but chances to get an offer will be slim.

    Let's say I will stay in audit. It's a shit job. Ok. But I have almost one year to prepare for i.e. consulting recuitment and then change audit for better than TS pay and better than TS opportunities.

    Please check my reasoning.

    (position is in Europe, don't know exactly the team but probably FDD / Restructuring)

    Sounds like you've already made your choice despite everyone else telling you to go TAS. Not going to check anything, enjoy life as an accounting manager; the longer you stay in audit, the more you are viewed as an accountant without a doubt.

  • In reply to itsinthebag
    Karembeu5163's picture

    itsinthebag:
    TurboMonkey69:
    Right - let's say I will take TS job. And in 10 months I will say that this is not it.

    I can't be audit senior because I don't have 2 years of audit experience.

    My possition in accounting / controlling will be downgraded because probably I will stop my CPA

    My exit opportunities will be limited. Probably if working very hard that year I could try to lateral into IBD but chances to get an offer will be slim.

    Let's say I will stay in audit. It's a shit job. Ok. But I have almost one year to prepare for i.e. consulting recuitment and then change audit for better than TS pay and better than TS opportunities.

    Please check my reasoning.

    (position is in Europe, don't know exactly the team but probably FDD / Restructuring)

    Sounds like you've already made your choice despite everyone else telling you to go TAS. Not going to check anything, enjoy life as an accounting manager; the longer you stay in audit, the more you are viewed as an accountant without a doubt.

    Agreed. It looks like you have made up your mind or at least know what you are leaning toward, despite what people are suggesting.

    Understand that of course there are risks involved with what you are considering (i.e., taking a pay cut for TS, opp cost of not making senior in audit, not enjoying TS, etc). You just have to weigh if that risk is worth you having a better shot at what you eventually want to do or not.

    You could, of course like you say, stay in audit which gives you an year to prepare for recruitment. But what if recruitment doesn't go well? You've invested another year in audit so now you will have 3 years audit experience instead of 2, and still trying to transition out. Would seem like you've cemented your position in audit even more in this case.

    Also, why do you have to stop your CPA? I would think you can still try to knock it out even while you are in TS; there shouldn't really be a reason why moving to TS would prohibit you from completing your CPA.

  • TurboMonkey69's picture

    Thank you guys for your answers.

    Even if I sound that I made my choice it isnt that way. I'm just checking assumptions.

    Altough I could do banking or consulting I think I have better chances at consulting world just because in my country consulting is much more developed than BB banking.

    In TS I could more distinguish myself than in audit (because of more enjoyment) but the pay cut is painful (I'm saving for school) and I'm a little afriad that in case of trouble (TS not as fun as I thought, can't lateral into consulting or banking) I will be in a pinch.

    Quite difficult situation.

  • antmavel's picture

    No comparison possible with Audit. There is no exit and no hope from audit...jump at this chance to diversify your profile ! Working in TS will provide you with more choices going forward. Pay cut seems extreme in full honnesty, you should try to negotiate...

  • TurboMonkey69's picture

    There is a hope in audit in terms of exit opportunities. In two years I could make 2-3 times more than in current (possible) position in TS and I will be looking for a job a week.. but unfortunately audit is not my passion :)

    It's strange with this pay cut because they were looking for an experienced audit hire with 2 years of experience. I could negotiate with them further but I don't think I will earn much more. They've got lots of applicants for this position.

    In case of PV landing a PE / IBD job after TS would justify the decision but going to PE through consulting may be safer?

  • TurboMonkey69's picture

    From the MBB recruitment standpoint if all other thing being equal would you rate (at an initial consideration) a guy with 1 year of audit experience + 1 year of TS experience higher than a guy with 2 years of audit experience?

  • In reply to TurboMonkey69
    The Sour Patch Kid's picture

    TurboMonkey69:
    From the MBB recruitment standpoint if all other thing being equal would you rate (at an initial consideration) a guy with 1 year of audit experience + 1 year of TS experience higher than a guy with 2 years of audit experience?

    From an MBB recruitment standpoint, you're probably gonna need an MBA from either in order to make the jump...

  • TurboMonkey69's picture

    Let's assume that other parts of my application are that strong that I will have a chance to land at least an interview.

    I've said MBB because they are most desirable but I will settle for any respectable 2nd tier.

  • In reply to TurboMonkey69
    itsinthebag's picture

    TurboMonkey69:
    Let's assume that other parts of my application are that strong that I will have a chance to land at least an interview.

    I've said MBB because they are most desirable but I will settle for any respectable 2nd tier.

    If other parts of your application are "that strong", then you should be able to apply right now. I don't understand why you think you'll have a better chance in one years time - if they don't have any openings now, what makes you think they'll have an opening in a years time. Having one more year in either position does not increase your chances of breaking into consulting; if any, it hurts your chances as you've spent one more year in an industry completely unrelated to consulting and are further viewed as an accountant. Based on your serious desire to remain in audit, inability to accept the 100% consensus that TAS > Audit, I'm seriously beginning to wonder if you're just a troll.

  • In reply to itsinthebag
    TurboMonkey69's picture

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  • Hugo Stiglitz's picture

    Hugo