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What's worse for Consulting: Audit or Operations?
 

erklam's picture
(Baboon, 110
 
Points)
 on 11/12/12 at 1:24pm

Hello,

I'm in the process of Consulting internship applications and I'm thinking about my backups:

either a Big4 Audit internship or a possible JP Morgan Operations internship.

While I know that these have nothing to do with Consulting, I'd still like to know which one would be more beneficial considering that I'd apply for FT consulting the year after.

Thank you for your inputs guys!

Tags:
timlambcurry's picture

Operations at JPMorgan would

(Monkey, 33
 
Points)
 on 11/12/12 at 1:29pm

Operations at JPMorgan would be more helpful. This is not close.

uPhone's picture

well consulting means talking

O
(Monkey, 40
 
Points)
 on 11/12/12 at 1:30pm

well consulting means talking to clients, gathering requirements, doing analysis so I think audit might help more? not exactly sure but either way you need to describe either job on your resume well and relate it to consulting.

seekingalpha2's picture

Ops - hands down better.

CO
(Baboon, 103
 
Points)
 on 11/12/12 at 2:30pm

Ops - hands down better.

TylerT's picture

Operations will provide you

CO
 
Points)
 on 11/12/12 at 3:13pm

Operations will provide you with a technical skillset you can immediately "apply" as a consultant. Likely better for salary, and a better starting position if you're trying for MBB type firms.

Audit: Excellent internal opportunities within the Deals Stream of a firm, learning what working in professional services is like vs. industry, client facing skills, and if you're a good networker no real reason why you couldn't move into the firm's advisory practice. It happens (rare, but half of that is most CA/CPA candidates don't think about consulting as an option).

I would side with those believing Operations is the advantage, but don't discount the value of having client facing skills. These are one of the biggest hurdles to new consultants.

TT

baykus's picture

Operations, no brainer

CO
(Monkey, 59
 
Points)
 on 11/12/12 at 3:15pm

Operations, no brainer

erklam's picture

Wow it surprises me how all

(Baboon, 110
 
Points)
 on 11/12/12 at 8:51pm

Wow it surprises me how all of you would opt for ops instead of audit. I guess I had the wrong picture of operations in my mind as it is always regarded inferior to almost everything else you can do at a bank.

Within ops, would you recommend a generalist or a specialist stream, keeping in mind my future consulting aspirations? I'm having a hard time finding out about the actual different between these two internship alternatives.

Thank you

shirking's picture

erklam: I guess I had the

(Monkey, 35
 
Points)
 on 11/12/12 at 8:58pm
erklam:

I guess I had the wrong picture of operations in my mind as it is always regarded inferior to almost everything else you can do at a bank.

The people who tend to open their mouths the most when it comes to discussions about banking are front office people. Operations is back office. Front office people stereotypically like to shit on back office roles. No surprise there that your general perception of ops is highly negative.

Pissingintowind's picture

FWIW, I work with former Big

CS
 
Points)
 on 11/12/12 at 9:42pm

FWIW, I work with former Big 4 auditors that were able to get into MBB consulting firms after a top MBA. My friends that are currently in operations are having no luck moving into consulting at all - even with my referrals to the consulting firm that I used to work at. Of all the consultants I know, both from my former firm, and from my current job, there is not a single person that arrived in consulting after operations work at a bank. I would say do audit, since you will likely be able to get a better MBA from audit than operations, which can lead to a consulting offer. I wouldn't say this is particularly close either... Not sure why others seem to think otherwise.

erklam's picture

This is funny - I am so much

(Baboon, 110
 
Points)
 on 11/14/12 at 9:36am

This is funny - I am so much more confused now after hearing all these different opinions... But I guess there is no clear winner in this, although some posters say there is...
anyone else?:)

uPhone's picture

honestly I think the people

O
(Monkey, 40
 
Points)
 on 11/14/12 at 10:17am

honestly I think the people on this thread who feel strongly about one or the other are forgetting that you're only applying to internships, not full-time and that recruiters won't look into it as much.

SlikRick's picture

I don't know understand how

CO
 
Points)
 on 11/14/12 at 12:36pm

I don't know understand how people are telling you to pick Operations. Its a fine job in its own light, but I'd go with Big-4 Audit if your end goal is Consulting. Say what you will about Audit, but its a client-facing role, and meaningful interaction with different clients occur daily. You have an opportunity to learn different processes in the business, build deliverables, etc. This can be fairly easily spun in a Consulting Interview. Also, don't discount the fact that every Big-4 has an Advisory Department (KPMG?), which many future MBB Consultants come from. Compare this to an Ops role, where you will most likely have ZERO client-facing opportunities and a subpar network.

erklam's picture

That makes sense. I wonder

(Baboon, 110
 
Points)
 on 11/16/12 at 2:00am

That makes sense. I wonder which change is more probable or feasible:
- a switch from operations to front office OR
- a switch from audit to advisory
within the same firm, i mean.

Accrual Dictator's picture

Lol wow, I guess the only

 
Points)
 on 11/16/12 at 11:12am

Lol wow, I guess the only thing worse than Ops on this board is Big 4 auditing apparently. I'd go with Big 4. People over here like to crap on the Big 4 because it's a "state school job", they take a ton of people each year, and since it won't lead to PE/HFs without a top MBA/Contacts/Luck. At least at the Big 4, you'll be doing client work and can transition to TAS services groups within them.

Additionally, even though one won't be doing journal entries as a consultant, audit will still help one learn more about business processes and a good background in accounting can't hurt as a consultant even if it's not a necessity. I'd also argue that if consulting STILL doesn't come by after a Big 4 stint, one has much better exits into industry positions from the Big 4 than Ops.

I work in corp finance, which is similar to "Ops" and I can't possibly imagine how anything I'm doing could relate consulting/IB in the future. This is why I'm considering going for a masters in accounting and using the Big 4 to transition to something better if the job market doesn't pick up.

Hugo Stiglitz's picture

erklam: That makes sense. I

CO
(Baboon, 143
 
Points)
 on 11/16/12 at 3:52pm
erklam:

That makes sense. I wonder which change is more probable or feasible:
- a switch from operations to front office OR
- a switch from audit to advisory
within the same firm, i mean.

From what I've heard it nearly impossible to swtich from Ops to Front office for a bank, I personally have no experience in this. But I know of a lot of people who were able to switch from Audit to Advisory in a big 4. You just have to be a high performer and network within the firm.

Andrés's picture

MBB consultants I know: 1.

(Monkey, 35
 
Points)
 on 11/17/12 at 12:44pm

MBB consultants I know:
1. Former auditors: 3+
2. Former Big 4: 5+
3. Former BO bankers: 0

marathon218's picture

Andres - I'm interested.

 
Points)
 on 11/19/12 at 12:13am
SlikRick's picture

marathon218: Andres - I'm

CO
 
Points)
 on 11/20/12 at 1:03am
erklam's picture

Hi SlikRick, As your post

(Baboon, 110
 
Points)
 on 11/20/12 at 5:15am
SlikRick's picture

erklam: Hi SlikRick, As your

CO
 
Points)
 on 11/20/12 at 1:21pm
timlambcurry's picture

30-40% placement into

(Monkey, 33
 
Points)
 on 11/20/12 at 2:29pm
erklam's picture

SlikRick: erklam: Hi

(Baboon, 110
 
Points)
 on 11/23/12 at 7:06am
AniraX's picture

From a European perspective I

(Monkey, 48
 
Points)
 on 11/25/12 at 8:08am
bondtradercu's picture

wow I was reading somewhere

(Baboon, 150
 
Points)
 on 11/27/12 at 3:17pm
Andrés's picture

marathon218: Andres - I'm

(Monkey, 35
 
Points)
 on 1/19/13 at 5:34am
chimpout's picture

for an internship, go with

 
Points)
 on 1/19/13 at 10:10am
erklam's picture

HI guys, thank you for all

(Baboon, 110
 
Points)
 on 1/22/13 at 7:29am

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