A family friend is a partner at PwC in their Structured Fin group, I might get an internship next year is it worth A) making a friend jump through hoops B) Doing it as I come from a nontarget? The money looks good, I suspect this guy brings home 1.5-2MM and he loves his job. Can I go from there to IBD?
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I know some banks have structured finance groups within IBD so I suspect it's not a hard transition.
Also it's PwC, a well recognized brand.
Don't see how it could hurt you.
i think 1.5-2MM is a bit exaggerated. i would imagine 750k-1mm is more reasonable.
Depends on the location of the office and what kind of partner we're talking about...2mm is a bit less than some
is there that much of a difference between partner compensation at big4 firms? i would imagine that between base, bonus and profit sharing majority make around 1mm. http://bigfouralumni.blogspot.com/2007/03/pricewaterhousecoopers-lets-o… , granted this article is outdated but, "an average of US$643,000 per partner take-home pay."
just out of curiosity, does anyone think that this internship (being that it is w/ an accounting firm) will give someone an edge when applying to banks, or perhaps the accounting stigma will set them back in such a venture...
I would guess it depends on the group I have heard of people going Big 4 Transaction advisory services to BB, also they have decent consulting arms. I'm interested in SFG which seems like it might transfer better. Doing tax or audit isn't that bad, you can do well and make partner.
I know a couple ppl that made the transition for FT... smart kids who thought they wanted to do accounting...
but by no means does this internship give someone an edge, right?
It gives you more of an edge than no internship.
There are 29 levels of partners at PwC.. the first level will make less than half a mil while you're upper level partners will be pulling in $2mil+. You'll see a lot of inconsistency across the Big 4 in terms of pay. I know some senior managers at KPMG/PwC who are paid millions based on the constant work/fees they brought in from high profile clients.
The reported average partners salary for the Big 4 firms in the UK is around $1-1.2million including bonus.
where did you find "29 levels of partners?" im interested in reading more about this.
yeah i'm interested too.
The accounts aspect of this is a big thing. Without getting too specific, I know a guy that has a MASSIVE account at one of the big four (like the account generates nearly 20mil a year in fees) and he clears 3mm. He is also way up in the hierarchy and is an expert in his part industry to say the least
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