Accountant vs Fin Analyst at F500 vs BO/MO @ BB
Lets say that you didn't get into banking, consulting, PE, etc. and are forced to choose between being an accountant at a Big 4/Regional Firm, a financial analyst at a F1000 or have some gig in the back/middle office of a BB bank. Of those, which would you pick assuming you are going to spend your whole career there (i.e. no saying I'd do BO just to network and maybe land a FO gig someday) based on pay, interest in subject, lifestyle, etc.?
Financial analyst at a F1000>Big 4/Regional Firm>back/middle office of a BB bank(this might vary based on the nature of the back office or middle office role/responsibility and compensation)... My choice/opinion, I am not sure if that would be a consensus.
I would agree... although it depends on how far I'd get in my career at each place. A partner in Big 4 can pull in a million or more a year. And obviously, riding to the top of a F1000 as an executive would be pretty sweet as well. The lifestyle in either would not be bad, you can make good money, maybe have time to spend with your family, and not have to live in a high-stress, dense, heartless city (which I do love btw) like NYC.
I don't think I'd ever want to work BO or MO. I do BO now and hate it.
I diasagree and will argue that it goes something like big4>financial analyst at F1000>MO/BO at BB simply because of earnings potential (excluding executive positions) and the exit opps. Exit opps from big 4 are waaay better than the other 2 especially coming from advisory.
However some middle office positions such as risk management may come in after or even before big 4.
Really? What kind of exit opps do Big 4 people have outside of being a controller or senior fin manager at a F500 or the CFO of a small firm?
Also, what if you don't get into the Big 4, but still a top 10-15 firm? Do you think being an accountant is still worth it?
IMO alreadyrich has it right.
I've done big 4 and F500 (althought higher than analyst).
Likely path over 5-6 year period given those two roles - assuming you want to end up at F500: Big 4: Staff->Senior->Manager-> F500 Manager F500: FA->FA->SFA
Note - even if you're good it can be tough to get promoted at F500. I'm experiencing this firsthand right now.
Also, if you think you want to do something outside of F500, I think Big 4 will provide substatially more ops.
That being said to your actual question (which is a dumb hypothetical) if you REALLY don't want to ever leave, start with whichever job you'd like the most. To me that would be F500. But, seriously, why not start Big 4 and skip a few steps.
The OP seemed to think/know Big 4 wasn't likely for himself. There are a few firms below the big 4 that I would choose, but beyond that I'd stay away from lower tiered accounting firms. You're going to be doing all kinds of crappy audits/tax returns/probably payroll processing for small companies in quickbooks. That shit is retarted.
Well to be fair, I do have a decent shot at the Big 4, but, especially since there are no guarantees and the B4 are discussed ad nauseum, I wanted to see what you guys thought about other accounting firms. Plus, I was asking about these roles because, based on various personality tests and from talking to people very familiar with all of these, it seems like accountant >= corp fin analyst (accountant is slightly better match but the two are roughly equal) > MO/BO. Banking is definitely not the type of job for my personality and although MBB would be ideal, those prob won't happen right off the bat due to non-target status.
Just out of curiosity though, what are the other lower tiered accounting firms you would consider? I'm only considering top 10-15 firms because there's no way I want to go to a small firm that only works with clients in my state and works with very, very small businesses.
I pretty much completely agree with alreadyrich. Transation Services at a Big 4 can be a pretty nice career.
What is considered MO at a BB? Isn't that usually their Finance/Risk/Treasury groups? If so how is that any different than being an analyst at a F1000 (given that most banks are F500 companies)?
@ J.I. In addition to what you listed, there are also a large number of CFOs in F500 companies from big 4. Almost a prerequisite. You find ex big 4 accountants almost everywhere (IB, corporate finance at F500,equity research, trading, PE) but these exit opps are typically within advisory and for those who network properly. Cream of the crop audit folks in large markets like NYC do get these exit opps although later on in their career.
I dont think top 10-15 is worth it unless you dont really care about making a $1m+ through work, desire work life balance and want to stay in accounting your whole career or move to a much small company. (of course there are exceptions).
MO and BO isn't even in the same universe as the first two jobs
Man, I don't know. All three jobs sound like something which would cause me to drink heavily.
Can I vote No for all 3?
MO/BO - Absolutely not. Nothing like being shit on by people you wish you had become to make your life a living hell. MO/BO is the quintessential cock tease career.
F500 Corp Finance - Suppose it is OK, but reeks of office space to me
Accounting - Yeah, like eating cardboard. Will fill you up but you will still be miserable
All 3 are places the soul goes to die.
You just made my day, can any comment be anymore hilarious.
haha come on Corp Finance at F500 can't be that terrible... Would a treasury or strategy group be interesting?
Why does everyone lump MO and BO together? IMO finance/treasury/risk managment offers a much better career than BO. I also think financial control at a BB is the same, if not better, than F500 corp finance. I work with plenty of CPAs that came from the Big 4 at my BB and I also know of some that have made it to FO positions.
Bottom line: I think MO deserves more respect than BO. Please advise.
Regards,
CDS
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