Exit opps have been good to my group. The only corporate strategy recruiters who reached out to me when I was at my firm where from mid-market private equity owned companies. If I like M&A, maybe I'll go IBD or get my JD and join a law firm. They didn't "hire" you. Click the link below to get started. In 1999, KPMG separated it consulting division from its accounting business. Big 4 Consulting By The Numbers. I based my decision on the fact that this route will give me a solid foundation on financial expertise that pretty much will carry over to anything I do in the future. My dream is to work for a video game company (likely internal strategy) like Microsoft, Nintendo, or a developer like Riot Games, but it seems like they require MBB backgrounds for their senior strategy roles. My parents basically told me to study whatever I wanted in college and that I didn't really need to concern myself too much, just that I enjoyed myself. They grew to be larger than the big 4 accounting firms. If you're going to work long hours for not a lot of money you may as well do it right and go advisory, or better yet banking. 11 thoughts to get you started, Suck it up: 8 Steps to Getting through 100+ Hour Weeks as an IB Analyst, Podcast: E142: Everett Cook (Rho Business Banking) - 11/10, Podcast: TE140: Doug Foley The Breakout Blueprint - 11/24, Podcast: E141: Chris Hutchins (Wealthfront) - Automating your financial life - 12/8, Podcast: E143: Eoghan McCabe (Intercom) - Insecurities and ego in business - 12/22, Podcast: E144: Kate Miller (Miss Grass) - Building a cannabis brand - 1/5, 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF, Elite instructors from top BB investment banks and private equity megafunds, Includes Company DB + Video Library Access (1 year). That’s where networking comes into play. So my question is, where do I learn all of this? PM me if you have very specific questions. Others that have left went PE, corp dev, mezz fund, other smaller TS groups and restructuring firms. 2017 Consulting Industry Report. I'll usually get a call back but am told that the strategy teams will only consider MBB, T10 MBA, or B4 with ivy undergrad and "special circumstances". Try to avoid these people at all costs and get out asap. You're in a client facing role much earlier in Big 4, the culture is certainly better, there's a lot more emphasis on personal development and training, etc. You will have a performance review after about 9 months and then would be a good time to mention your interest in maybe getting a broader experience and maybe doing some sort of a secondment to valuations. Another advantage you have is that Im pretty sure your area will fall under "advisory" within your firm....I imagine its a lot easier to move from department to department in advisory than it is to move from audit to advisory. So, if you wanted to take that route, you can def. They are best classified today as the four biggest professional services networks in the world. It isn't verifying what the target company tells you is in their financials but more about how they account for numbers and how their business affects the accounting and earnings number. For the record, I was in Big 4 for more than a year before lateraling to an investment bank (currently in my analyst stint). Who knows. But audit is just the beginning. If you're like me--and it sounds like you are--you aren't exactly sure what you want, just that you want to work hard and be good at it. I drank the Kool Aid for way too long. In fact, I'd even argue that there are certain advantages to Big 4 that investment banking doesn't have. Mergers, acquisitions, and the disbanding of industry leader Arthur Anderson in the aftermath of the Enron and Worldcom scandals reduced the previous eight into the four we know today. Coming in just behind Deloitte in total revenue, PwC is another firm that hasn't let its past dominance slow down it's continued rise. Not from the fact that Big 4 is actually looked down upon, but because scarcity of openings for off cycle hires. Consulting services are luxuries that most businesses don’t need right now. Me and some friends/colleagues will be designating with our CPAs in Spring/Summer 2021. I should also specify, it's Hyperion. This report includes hours worked, compensation, employee satisfaction and much more. Stays a staff accountant for a long, long time unless they exit to a different career altogether, such as HR. Any suggestions or opinions would be appreciated, thanks! More than 88% go on to become full time employees after graduation. I go to career fairs, business frats and they tell me about my internships, difference between audit/tax and other such things. Curious if you think KPMG will acquire a strategy boutique such as OC&C or Roland Berger to speed up its (relatively new) Strategy group's growth? As of 2017, the Big 4 audited 497 of the S&P 500. If you're good, you're good and you'll figure out some way to get to where you want to go. As another poster pointed out risk advisory / audit is, for all intensive purposes, audit. They pride themselves on their ethics, integrity, and code of conduct, and make it explicit they look for these qualities in whomever they hire. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). But right now, I say screw that. 'They couldn't hack it and therefore they don't get the reward at the end of this'. Either way, don't let WSO get you down on audit too much. I am not completely bummed though, because there are alternative choices that branch out somewhere down the road (maybe 3-5 years). What are some pros and cons of this? +Bonus: Get 27 financial modeling templates in swipe file. Most adjustments the TS/TAS report will come up with are not 'audit' adjustments. Go to Vault(even Poets and Quants articles are mostly sourced from them. And that "chase" never ends if you let it get to you. I have managed consulting teams from different firms at the same time, just on different projects. Once hired KPMG offers an extensive amount Continued Professional Education (CPE) to its employees. Advisory exits: really depends on what type of advisory. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries), All-access Pass: All Interview Courses & WSO Services. 11 Detailed Exclusive Cases developed by a McKinsey Associate and 10+ hours of video. But let's put a number to that. Senior roles, you'll have headhunters knocking on your door more if you come from MBB, but if you network smart and actually make relationships, it doesn't really matter what firm you are coming from. Few phrases are as recognizable in today's business world as "The Big 4". I would choose audit over some advisory positions, all depends on which. Also, as an aside—it's important to also remember the B4 isn't automatically better than T2, especially for the specialized T2s (ATK, LEK, OW, ZS, Etc.). Amongst the thousands of consulting companies that exist today, these four have captured an exclusive place for themselves and are recognized as leading providers in not just consulting, but professional services at large. Should I be looking at banking-related careers? I also have a strong interest of getting into buyside in the future. If you want to do anything accounting related, including FP&A, there's no question that Big 4 is one of the best places to start your career. In big 4, advisory salary is a lot higher than audit... is this difference likely to continue even after the exit? Well, especially in this shitty economy, a Big 4 auditor will have to most likely compete with another candidate that already has direct IB experience. Do you know if the strategy manager was doing FDD work at Big 4 and at what level he switched over from Big 4? PwC practices and dominates a large amount of the global advisory market. If your ultimate goal is investment banking, it will give you much more relevant experience. On the other side if you want to do accounting, any Big 4 firm is the best place to start! My parents own millions of dollars in real estate and they make bank, rent from residential properties and commercial ones like shopping centers. ERP is essentially the logging, integration, and organization of all a large company's data into one management software where separate departments can converge their data for applicable uses elsewhere throughout the company. or Want to Sign up with your social account? Press J to jump to the feed. I'm not saying that there's no merit for complaints (audit or IB), but either way, you're not in THAT bad of a place. The large consulting shops (Big 4 + Accenture) have all been getting into the strategy space, with organically-driven outfits like Accenture Strategy and KPMG Strategy popping up, plus of course the splashy acquisitions of Monitor, Booz etc. Can you provide a concrete example? Big 4 has exit opps, there's no question about that. Better Exit Opportunities Big 4 Audit or Advisory? 11 thoughts to get you started, Suck it up: 8 Steps to Getting through 100+ Hour Weeks as an IB Analyst, Podcast: E142: Everett Cook (Rho Business Banking) - 11/10, Podcast: TE140: Doug Foley The Breakout Blueprint - 11/24, Podcast: E141: Chris Hutchins (Wealthfront) - Automating your financial life - 12/8, Podcast: E143: Eoghan McCabe (Intercom) - Insecurities and ego in business - 12/22, Podcast: E144: Kate Miller (Miss Grass) - Building a cannabis brand - 1/5. I know people who have made the transition from audit to corp finance but not from advisory. Play it cool....learn a bit about risk/audit, work hard and use every opportunity you can to network with people in other areas of advisory. Undergraduates and Master's candidates with less than three years of work experience can become an associate where they get first hand training and immediate placement within their chosen field. This is something I think you can clearly see with how S&O recently realigned their business into 6 offering portfolios that offer opportunities to tie in non-strategy work, and with how S& advertises their "Strategy, made real" thing. Corporate Finance is very broad and has many sub divisions. The problem with Big 4 is that the quality of people in the middle is very poor. I am pretty sure risk advisory falls under audit. or Want to Unlock by signing in with your social account? It's always interesting as a former consultant to watch this happen and the different cultures even teams within the same firm have. Def. The need for formal corporate and IT governance practices. Depends which Big 4 advisory you are talking about. You will need to begin the process during your junior or, at the latest, senior year of college. Big 4- Future Career In Advisory Non Target School, Certified Private Equity Professional - Vice President, Modeling Training - Special for WSO Members, Certified Consulting Professional - 3rd+ Year Associate, Financial Modeling Training Self Study Courses, Certified Investment Banking Professional - 2nd Year Associate, Investment Banking Interview Questions and Answers, Hedge Fund Interview Sample Pitches - Long/Short, Certified Sales & Trading Professional - Research Associate, WSO Discount - Financial Modeling Courses, Investment Banking Interview Brainteasers, Investment Bank Interview - Toughest Questions, Want to be a Trader? If you meet those criteria, your school's career department will be able to supply everything you need to line up the needed applications and interviews. That is why I was thinking corp jobs like FP&A sound attractive because those positions let you interact with many aspects of a company.