Big 4 Audit - stuck?
for context, im a 2nd year at big 4, already got CPA. i dont hate what I do but im pretty unhappy with the salary ceiling in corporate accounting or fp&a, which are pretty much the 2 exit paths from audit. for a long time i thought i wanted to do banking but ill be honest and say idk if i have what it takes to do IB without becoming depressed. I networked with quite a few bankers over the last months (and even had an interview, which didnt work out but thats another story) and ive determined that idk if its the lifestyle i can deal with year-round for multiple years. I'm still far more interested in M&A than anything else in finance, though, so i think the right move is for me to go to TAS/FDD asap, although im having a very hard time trying to transfer internally and it doesnt even seem like other big 4's want to hire at an associate level for this service line.
weirdly enough, i had a dream last night about considering an MBA then doing management consulting LOL. what would you guys do in my position if you know you dont wanna go do accounting in corporate/fp&a. im basically 100% sure i want to continue my career path in client-facing work, just dont know if i can handle IB in the long run. any advice is much appreciated, thank you
I for sure commend the self-awareness around lifestyle - feels like there's not a lot of that in these forums.
So, the market is still awful, and hiring for advisory roles tends to lag any pickup in actual dealflow, so it isn't too surprising that you're having difficulty moving to FDD / TAS. Given your preference for client work ideally in M&A, this feels like the right landing place honestly. If you ask me what I'd do in your position, I'd honestly just sit tight for at least another 6 months - you're only in your second year.
Outside of that maybe worth looking at other non-big 4?
Really appreciate your advice - think its just tough to feel like my hands are idle right now. Will keep networking and making connections, and yeah tbh I am open to looking outside big 4 for TAS/FDD work. Will keep that option open
Follow your dreams
You could also look into Rx/Turnaround consulting. Some firms recruit Big 4 CPAs for their junior levels. Pay is much higher than corporate accounting or FP&A, the work will definitely be more interesting and there is more variety. However, there is usually a heavy travel component, but there are some firms where it is lighter. You are also usually working with distressed companies in bad situations so the work can be stressful and high paced at times.
I wouldn't sweat it, as mentioned the market isn't great and hiring should pick up. My old B4 firm generally wouldn't consider auditors to move internally into TAS until 2/3 years experience, and they were able to make the switch and stay at the same level. Focus on killing it in Audit and positioning yourself for an internal move (whether it's just grabbing coffee with members of FDD team) as well as continuing to apply for external opportunities.
Would you take a TAS role at a MM shop with meh deals if you were in my shoes? Or better to be patient?
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