Title is pretty self-explanatory, but I'll provide some context: Been working about 10 months for at a Big 4 audit position fresh out of UG, but dreading the day to day ever since the end of busy season. Overall I like my coworkers a lot, but the content of the work is pretty mind-numbing, endless tickmarking and spell-checking without truly seeing the larger picture of the client due to the work being so siloed. I have a longer term goal of working in CRE, specifically acquisitions but I'm very open to anything that would be a stepping stone for that process. I'm currently enrolled in an online RE modeling course as a refresher for finance coursework done in UG (finance major, dreaded accounting), and I do some actual modeling work on the side with an alum working in REPE acquisitions.
I'm debating initiating the conversation with some higher ups about a switch to our Advisory practice, particularly to a group with a RE focus (this generally seems to be mezzanine debt valuation and the like). I've heard through the grapevine that partners and other mgmt are very possessive of lower level people, principally due to high attrition. From what I've heard, while a switch into a different practice isn't unheard of, it isn't exactly a cakewalk either because of office politics at the partner level, HR's perceived inability to actively help, and the perception Advisory (as well as the rest of the financial industry) has of auditors/accountants.
With eventually wanting to do acquisitions in RE, would it be more beneficial to try to switch over into a related Advisory RE focused group, and thus be better able to drop the mantle of an auditor/accountant in the mid-term to look for RE positions, or just get out and look for RE positions directly? Any advice is appreciated.
As you know, I just left Big 4 Assurance and I was considering the same thing before I made the decision to leave. From my understanding, the majority of the Advisory work is assurance transaction support that isn't necessarily at the asset level, which is the experience you would likely want if you are going to transition into CRE eventually. This is obviously a better stepping stone if you are having trouble getting a more desirable position outside of the firm.
Also, the Big 4 firms are notorious for giving people the runaround by telling employees to stay in audit for more time and they will work on a rotation or something for later down the road. This happened to me and I ended up staying for an additional year before getting the appropriate people involved (as you mentioned office politics) but at that point I had some resentment and just wanted to get out.
Additionally, I'm not sure what firm/region you are in but I know in the SE, advisory is hurting for work making it difficult for the groups to take on additional people. Just a few thoughts based on my experience.
Nihil optio at debitis saepe alias aut dolore distinctio. Consequuntur eos exercitationem rerum qui dicta molestiae omnis. Eaque aperiam sed sit qui expedita quo. Magni consequatur quia odio inventore omnis aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...