F500 Analyst vs Big4 Advisory for M7 (Again)
Lot's of discussion on this forum about FLDP vs Big4 (especially audit) for B-school, with the general consensus that FLDP leads to a better shot at M7 / T-10 programs. But what about the advisory side of the Big4? And what about non-finance roles at F500 or regular analyst positions not part of any LDP?
And is there some point down the F500 list where a Big4 position is always more attractive? I figure E.Y.'s BAP program becomes a lot more attractive when you're talking about an F499 Opps analyst position compared to GE's FLDP.
Good question- I'm a bit qualified to answer this question as I had to decide between F500 FDLP, Big 4 Deal Advisory, advisory/consulting ish big 4 roles (BAP/accenture MC) coming out of out school and can walk you through my thinking.
Short answer- it really depends on the jobs and your goals.
I can speak to my experience. Coming out of school I had two goals, attend an M7 in 4-5 years and work in Silicon Valley and technology, and I make my decision based on those goals.
Regarding the M7 its important to understand that adcoms place you in buckets, whether its consulting, banking, retail, technology etc. I knew that going into the F500 FDLP I would be placed in an industry bucket technology, while if I took the deal advisory or consulting role I'd likely be placed in the M&A/banking and consulting bucket respectively where I would have no chance when compared to BB IBD/PE/etc and MBB.
Finally, industry and location were important to me. My Big 4 and advisory offers were in T2 cities in the south (ATL,DAL,HOU), my FLDP offer was in the bay area and in technology.
Happy to speak more about this if you have more questions or a particular situation.
Thanks for sharing your story; this is helpful! The reasoning you followed is in-line with what I've generally found here.
Like you, I am hoping to give myself the best possible shot at M7 in 4-5 years but with the goal of strategy consulting. I'm at a top 30 semi-target (One major strategy firm does OCR ) and my top choice is consulting straight from undergrad, but I am not too optimistic about my chances. I'm interning at a large regional company in a "Strategy" role, but I don't really know what I'll be doing. I think its some kind of cross-functional Ops role.
Like I said I'm going to try for strat consulting and also apply to the few blue-chip companies that do OCR at my school, but if that doesn't work out, would I be better off sticking with this retailer or going to B4?
My school sends a ton of people to E&Y's BAP, KPMG Risk, and a couple to Deloitte federal, but from talking to the business school kids, it seems like most are doing it because they like the idea of calling themselves a "consultant."
One more question since you're an FLDP guy, do you know if it's possible to get into an FLDP without a finance internship?
Again its depends. Not all B4 advisory/consulting are created equal @bout big 4 life outlined it pretty well. Honestly the only B4 I'd consider worth doing over a top FLDP is Deloitte S&O, Corp Finance (MM IBD), Strategy& (pwc), Accenture Strategy, and EY Parthenon - which all seems like don't do OCR on your campus (from what you've said). BAP, risk, and other like that are all BS labeling their work as consultants, while management consulting and deals/deal advisory isn't what its all hyped up to be IMO.
Again it also depends on what type and the quality of the FDLP (these also aren't all created equal). So honestly its really hard to answer your question unless you have offers in hand and are actually in the decision making process. And no I don't think a finance internship is necessary my only relevant work experience was ops at a supermajor oil company, plus strategy is close enough if not better.
This is probably a lot to digest so feel free to PM me if that helps given our similar situation.
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