Why would anyone choose Big 4 Accounting?
Hey everyone, as many of you know, not all jobs are created equal but I'm just trying to wrap my head around the reason for going into auditing/tax at the Big 4. You generally make 50-200k and work 60-75 hours per week for 12 years until you have the chance at making Partner. I'm obviously not going to compare it to IB as obviously the Big 4 have better work life balance, less stress and more job security but if you compared it to, say Corporate Banking, there's an obvious winner. (Note: These pros and cons are when compared to each other, not to other finance jobs)
Big 4 Pros:
-Job Security
-Linear Career Path
-Making Partner gives you good money and job security
Big 4 Cons:
-Work 60-70 hours
-Make relatively lower amounts of money until you make Partner
-Forced to get a CPA if you want better comp
-Many people don't get to Partner
Corporate Banking Pros:
-Job Security
-Linear Career Path
-Making MD gives you good money and job security
-Make better money than accounting before and after you get to a senior level
-Work 50-60 hours
-Usually doesn't require working in a larger city while you take major pay cuts working in smaller cities for the Big 4
Corporate Banking Cons:
-Many people don't get to MD
If someone wanted a job that could make them a lot of money but not IB, Biglaw or MBB levels of money and the stress that accompanies it, I would see why Big 4 would be attractive, but when compared to Corporate Banking, I struggle to find any cons.
What do you guys think?
(This isn't in any way insulting the Big 4, I just want to see why many people are attracted to these jobs when there are alternatives. I'm working in neither of these jobs so there isn't any bias, just calling it like I see it)
accounting is more predictable...nobody gets fired in accounting...during busy season you work 9am-2am (same as banking i guess) but that is 4 months out of the year...and the rest is 9am-6pm (plus the occasional 11pm night)...plus you can take all your vacation....and after 12 years you make partner and make 600k-1mm/year until you retire, and then you get ~600k/year for life as your pension. Its really the pension that you are working for....very few other careers have that.
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