Big4 promotion and pay

boutique banking is leaps and bounds above Big 4 TS.

but will take it any day over big4 TS.....

In terms of an MBA it may help to have Big 4 TS experience rather than boutique banking, but at the cost of going down a different career path (at least initially, pre=mba). Be thoughtful.

"making it" to a big 4 isn't much of an accomplishment relative to other professions.

I left big 4 (accounting) after 1 year to go work for a small Corp Fin shop (not the most accurate description, but you get the drift). I didn't even consider TS after 1 conversation with their managers.

From MY observation/opinion the Sr. Managers want it to be IB so you work late on Fridays, some weekends, etc.. But, from what I heard (with no real confirmation) is that the guys were getting paid low 60s (starting pay). For that pay (in my opinion) they can take their long hours and stressful work and shove it.

Some people do like it. The TS guys think they're the big swinging dicks of the Big 4, but realistically it's nothing compared to Corp Fin or IB most other places.

Note- I know TS isn't long or stressful compared to most IB jobs, but there you get the $$$. This is more hours and stressful than a typical accounting or some other job, without the extra $$$

Do you have info on the annual pay rise? 2nd year? 3rd year? Manager? Sr Manager?

I don't know about TS specifically, so this could be way off. However, in general Big 4 usually give 12-15%. When you get a promotion you get your typical raise and then a one time bonus.

Again, this is the accounting side, TS may be COMPLETELY different.

You are asking in the wrong place. TS is such a specialized and small division, so it's really hard to get an accurate descriptions or anything about it. Everyone in this thread is talking out of their ass and no one really knows. If you really want to know, network with some real profession in the TS division. You are also on a board where thers a bunch of wannabe IBankers who will never make it anyway. Advice: Do not talk about anything other than IBanking here, because all other occupations are frowned upon. It's a dawg eat dawg world.

I have had the unbearable pleasure of speaking with some people that work in TS. They are all pathetic and simply wannabe IBankers who couldn't cut it. My advice is stay as far away as possible in the hopes that their stupidity isn't contagious.

As for salaries, I don't see how it can be any better than other Big 4 starting salaries which are 55K in NY.

what is TS?

I just got on this site today and this will probably be my last day given the ridiculous comments...

We hire TS people all the time and they are nothing to be frowned upon. As far as the accounting profession goes, they are the smartest guys out there as a group - sort of like an accounting SWAT team. As far as comparing banking to TS, you might as well stop there. You are paid more as an analyst in an IB (TS makes about 70K below manager level), but being an analyst requires about the same intelligence as a football player in a geography class. They work similar hours (if working for a megafund) and make less so I would cut them some slack...

Happy B'Day in 5 days PEAssociate =)

Thanks - getting old though.

TS is transaction services.

peassociate, I don't blame you at all, there's so much ridiculous trash spreading through here. I'm sure that someone as mature and experienced like you is not used to it. Just curious how did you get all that information about TS? It seems like a respectable line of business to get into.

It's a dawg eat dawg world.