Accept Big 4 Offer?
Interested in banking, but recently received an offer for EVS at a Big 4 (80k) in NYC. Not having worked a single day in my life at any firm I'm pretty excited. Deadline to accept is Nov 20th, but there is potential for getting analyst/associate roles at banks since I have a Master's Degree in International Finance. I'm thinking of not risking it and accepting, working 2 years, and then making my way into banking (interested in Emerging Markets). What do you guys think?
I believe most bank recruiting has already wrapped up. I wouldn't count on getting a position this late in year.
I'm currently in touch with Lazard, FRBNY, and Citi; all are "better" opportunities. Additionally, I could recruit with European Banks spring semester (Credit Agricole, BNP, etc.).
Ex-Big 4 here, now on the buy side.
To be brutally honest, if you can’t get Big 4 to extend their deadline, I think you accept the Big 4 role and quietly keep in touch with the banks and keep playing the field. If you get a banking offer after accepting Big 4, then dump Big 4. I’m assuming that this isn’t some career center setup you can’t navigate around. But if you find yourself in that scenario, I say you shouldn’t feel bad about pulling out. The reason is because as a first-year, it won’t affect the Big 4 firm in the slightest. You don’t know anything yet, they haven’t trained you yet, you’re not a mid a Senior-level person with real responsibilities yet. If an undergrads bails out of an offer you go to the next name on the list. The Big 4 have plenty of smart accounting and finance majors pounding on their doors at all times.
The Big 4 firm is about the best “put option” you could have to cap your downside if you want IB but don’t manage to land it right away. Going from a Big 4 transactions or valuations role into IB is very doable at the lower levels.
Also, I’d let the banks know you have an offer from a Big 4 firm for a valuations group. If they have any leeway in their timeline it might expedite the process a bit. If nothing else, being wanted by someone else makes you look better, just like in dating.
Congratulations and good luck.
Thank you so much, exactly what I was thinking, just needed validation and perspective.
Also, if you end up at the Big 4, I wouldn’t wait two years to start trying to get into banking, I would start immediately. Do the Wall Street Prep financial modeling premium course and get their little certification on your resume to show you have that foundation in place. Get WSO’s banking guide. Start networking hard. You don’t owe the Big 4 firm a minimum of two years, you only owe them hard work and honest expense reports. The longer you stay in Big 4 the harder it will be to jump to IB.
Thanks, will do. What about the CFA, strongly considering starting it. Looking at similar LinkedIn Profiles, it seems that Big 4 + CFA lands a lot of people into banking.
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