Big 4 vs Bloomberg?
So looks like full-time recruitment has almost ended and I haven't been able to secure an IBD offer due to the small number of analysts they are hiring. What I do have now are a Big 4 Audit offer, a Citi private banking offer and a Bloomberg Sales and Analytics Training Program offer. Coming from a top 20 finance major, my goal is to break into banking eventually. Which route should I take now? Would Bloomberg be the better choice due to the closer working relationships with banking/finance professionals? If I network properly and build my contacts will I be able to leverage my experience in Bloomberg into banking? Thanks in advance for any help.
Take it for what its worth, but I hate dealing with people from Bloomberg.
@Mezz, Why hate dealing with people from Bloomberg? I've read in some threads that users say Bloomberg helpdesk is useless. If this is the case should I not go for it (my offer is helpdesk -> sales) as its helpdesk doesn't have a good reputation among finance professionals?
Exactly dude. The only thing I want to hear from the Bloomberg helpdesk is the answer to my question (which they don't get right half the time). I'd also prefer to interact over BB Chat...never on the phone because I can easily ignore them. We also have a Bloomberg rep that comes in about once a month...needless to say, that person isn't always the most welcomed.
Stick to your other 2 options.
I don't know about now, but in the past Bloomberg had a reputation for paying very low salaries, long work hours, and treating their employees like pawns. If I were in your shoes I'd strictly look at the Citi and Big 4 positions. Personally, I'd play the two off each other and see which offer comes out the best one. I think that no matter which one you choose you'll get a good start to your career. If it were me, I'd take the Big 4 position. But see what each has to offer. Good luck.
Playing off could get you into trouble. In this market there would be a long line of graduates waiting to take your place, so they may just tell you to 'get lost' if you do.
Just find out what area you think it is you will like to work in best as they all seem like very different jobs and go with that .
I don't think bloomberg is that bad and it has a good name, but I would pick big 4 next if u don't like it.
If you go to a big 4, you can get into banking eventually. If you work hard and get your CPA, you can get into Transactional Advisory services after about two years or so. From there, if you network, you can land yourself an investment banking gig. A lot of well known professionals have gone this route. It is a slightly longer route and it is not easy, but it is still a proven route.
Bloomberg sales is a dead end job unless you want to be in sales. Take the Big4 audit, more exit options once you get your MBA.
"If you go to a big 4, you can get into banking eventually"
Wouldn't say its guaranteed, you can look at a member on this board for example, but yes it's an easier route than private banking.
Do whichever you'll learn the most in. Which would be big four right? Kids do get to go to IBD from PWM. It's not that hard. Big 4 is a little different track but it seems like you'd learn the most. Pretty good options - hiring is still pretty sluggish. WHatever you do, don't get content and keep trying for IBD.
Big 4 is probably going to be the most interesting track, the most informative, and the one with the best exit ops. PWM is a dead-end at senior levels, where it basically amounts to cash and relationship management, as well as glorified sales (though less glorified than IBD). Bloomberg is sales, though not even glorified. You are basically equivalent to a mechanic or used-car salesman; that is about where anyone on Wall Street will view you. Big 4 will teach you solid accounting, give you experience and exposure to business, potentially offer you the ability to develop a network, and deliver a generalist experience with solid exit ops. It should be a pretty easy choice.
BIG 4 buddy. struggle with the junior years for about 2-3 years and f off to some IBD banks alright. but whatever position you choose, always remember to put your 100%, dont go around cursing your job when you are in it..
Why all the big 4 threads?
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