Big 4 Audit or Corporate/Commercial Banking w/ a BB
Hey Everyone,
New to the group and this forum has had fantastic information. I am in need of advice please.
I am discouraged about going into Big 4 due to reading WSO, networking with people from Big 4 who openly told me they hate their job, and currently working with people who were former Big 4 and stated it was hell.
Anyways, I know everyone has to pay their dues and I'm not afraid to put in hard work to get where I need to be but my ultimate goal was Big 4 ---> commercial/corporate banking and work up the career ladder.
Currently, I have done several SLP and trying for internships next which I am confident I would get at least one. I would start in a very small market or I can try for a corporate/banking program at a major bank like WF, BAML, JPM, Citi.
Need to weight risk of studying for interviews for commercial banking, risking losing out on Big 4 and regretting later down or just need help analyzing the situation.
Thanks!!
If your goal is banking, don't waste your time at the Big 4. The experience is only partly relevant to your end goal.
Also take what you read on the general WSO pages about Big 4 with a grain of salt. People here have very narrow perspectives (which, by the way, is not necessarily a bad thing), and are not representative of the general business/finance world. I posted a rant in a previous "not sure about Big 4" post within this group that may help show you another perspective. Also, keep in mind that many here have no experience (or contacts with those who have experience) in Big 4 outside of the financial services sector, which is in my opinion a bad career decision and extremely mind-numbing.
What is it that makes you want to do commercial/corporate banking over the public accounting route?
I perceive commercial/corporate banking to be more exciting. I like the idea of analyzing financial statements, understanding risks, running ratios and such. I also like the idea of less travel, better hours, and better initial pay.
I know that Public Accounting is great but I fear that the exit opportunities are not as good as what I expected. I'm not afraid of long hours but I can only work crazy hours for another 3-4 years max as I've been working full-time w/ school for as long as I can remember.
Accounting is not as profitable more hours are needed with less compensation such as changes going on w/ the PCAOB requiring more documentation, pushback against higher audit fees, and etc etc.
Good thing is my school has on campus recruiting for Big 4 but not for commercial/corporate banking. I looked at one example that has on campus recruiting for commercial/corporate banking and the schools are pretty select so that would lead me to believe that it's more lucrative than Big 4.
So yeah, i'm pretty torn. I've done a lot of research on both industries and noticed that commercial banking can be a hit or miss as you might be put into slave role with no exit opps but the same could be said of Big 4.
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