Leaving Big 4 audit after just 1 year- consequences?

Hi

I have done just over a year at a Big 4 firm in London. It has been a valuable experience but I feel like I want out now. I am incompetent at the technical work, I really don't like 80% of my colleagues, I hate not having any time to myself and the ACA exams are stressing me so much to the point where I've turned to binge-eating junk food and forcing myself to throw it up afterwards to cope with things.

I have my first 3 professional (written) exams coming up next week and I'm certain I'm going to fail them and they'll terminate my employment contract. In our contract it states we get charged up to £5k if we get under 30% in any exam. I have this week off as holiday so going to cram revise as much as possible but I haven't even started Audit and I've not done 80% of the tax sllabus..I am going to try my hardest to try dodge the leaving fine but was just wondering f it doesn't work out, how often do they reinforce this policy in reality?

Also do you know roughly any career options that I could do with a year's experience in Big 4 audit? I do dancing and holistic therapy in my free time and these things are very important to me, so I want to move into something that has me leaving no later than 6:30pm every night. I don't mind taking a paycut- at the moment I'm on £28k and wouldn't mind dropping down to £24k-but no lower. Also I am much beter at english-type subjects than I am at maths, anything technical or logical. So it'd be nice to do something which is more Englishy. I do really like working in a Corporate environment and financial, so really I would like to do HR in a bank, or something like that. Is this feasible with my experience? I get good feedback for my people skills, just appalling feedback for my technical ones

Thanks!

Reply 1

MancStudent098

13

Original post by Destiny_808

I have my first 3 professional (written) exams coming up next week and I'm certain I'm going to fail them and they'll terminate my employment contract. In our contract it states we get charged up to £5k if we get under 30% in any exam.

Jesus, which of the Big4 is that, most of them only charge you if you voluntarily quit.

First off I would talk to someone at the firm, tell them about being unable to cope with the exams and the eating disorder. You must have some sort of mitigating circumstances process?

I would then use that as a base to negotiate getting out of there. I imagine if you're honest with them and they realise you want out completely you can probably come to an arrangement where they release you from the fees.

Reply 2

Destiny_808

OP

Thank you for your suggestion I decided tell my appraiser about the bingeing and she logged something with HR. I am going to sit the exams to see how far I can get with them and then I will bring up the issue if I need to after results day. It was really helpful

Reply 3

OldSnake93

6

To be honest there are many who get a job with Big 4 and don't like it and leave. Actually you will be in a good position, employers see that you have got the job there and it increases your employability.

The only negative is that fine, but just try to pass it and see where you can go from there I guess.

HR is good, I personally would love to find a job where I'm more managing and dealing with people constantly rather than doing pure audit work after I (hopefully) qualify and move on.

Reply 4

wasabi

2

Original post by Destiny_808

Hi

I have done just over a year at a Big 4 firm in London. It has been a valuable experience but I feel like I want out now. I am incompetent at the technical work, I really don't like 80% of my colleagues, I hate not having any time to myself and the ACA exams are stressing me so much to the point where I've turned to binge-eating junk food and forcing myself to throw it up afterwards to cope with things.

I have my first 3 professional (written) exams coming up next week and I'm certain I'm going to fail them and they'll terminate my employment contract. In our contract it states we get charged up to £5k if we get under 30% in any exam. I have this week off as holiday so going to cram revise as much as possible but I haven't even started Audit and I've not done 80% of the tax sllabus..I am going to try my hardest to try dodge the leaving fine but was just wondering f it doesn't work out, how often do they reinforce this policy in reality?

Also do you know roughly any career options that I could do with a year's experience in Big 4 audit? I do dancing and holistic therapy in my free time and these things are very important to me, so I want to move into something that has me leaving no later than 6:30pm every night. I don't mind taking a paycut- at the moment I'm on £28k and wouldn't mind dropping down to £24k-but no lower. Also I am much beter at english-type subjects than I am at maths, anything technical or logical. So it'd be nice to do something which is more Englishy. I do really like working in a Corporate environment and financial, so really I would like to do HR in a bank, or something like that. Is this feasible with my experience? I get good feedback for my people skills, just appalling feedback for my technical ones

Thanks!

May I ask why this is the case?

Reply 5

Enoxial

16

Original post by Destiny_808

HiI have done just over a year at a Big 4 firm in London. It has been a valuable experience but I feel like I want out now. I am incompetent at the technical work, I really don't like 80% of my colleagues, I hate not having any time to myself and the ACA exams are stressing me so much to the point where I've turned to binge-eating junk food and forcing myself to throw it up afterwards to cope with things.I have my first 3 professional (written) exams coming up next week and I'm certain I'm going to fail them and they'll terminate my employment contract. In our contract it states we get charged up to £5k if we get under 30% in any exam. I have this week off as holiday so going to cram revise as much as possible but I haven't even started Audit and I've not done 80% of the tax sllabus..I am going to try my hardest to try dodge the leaving fine but was just wondering f it doesn't work out, how often do they reinforce this policy in reality? Also do you know roughly any career options that I could do with a year's experience in Big 4 audit? I do dancing and holistic therapy in my free time and these things are very important to me, so I want to move into something that has me leaving no later than 6:30pm every night. I don't mind taking a paycut- at the moment I'm on £28k and wouldn't mind dropping down to £24k-but no lower. Also I am much beter at english-type subjects than I am at maths, anything technical or logical. So it'd be nice to do something which is more Englishy. I do really like working in a Corporate environment and financial, so really I would like to do HR in a bank, or something like that. Is this feasible with my experience? I get good feedback for my people skills, just appalling feedback for my technical onesThanks!

Honestly I think you shouldn't give up.I think you don't need to study for the Audit exam THAT MUCH because you have already done it in practise, as for the Tax exam, just memorize the tax rules and you might get through.As for the fact you don't like your peers, you should transfer your self into another dept eg Transaction and Restructuring.I think if you quit you can get a job as an Internal Auditor in a good company.

Reply 6

InterviewAdvice

1

OP - many people leave the Big 4 and go on to successful careers. You could probably walk into a financial recruitment company and from that move into HR.

Reply 7

InterviewAdvice

1

PS: don't expect to leave the office at 6.30pm in an HR role. Maybe speak to the HR department in your own firm about opportunities internally before disclosing too much.

Reply 8

M1011

19

Original post by InterviewAdvice

PS: don't expect to leave the office at 6.30pm in an HR role. Maybe speak to the HR department in your own firm about opportunities internally before disclosing too much.

Why, what time do HR stay till? :eek:

Reply 9

InterviewAdvice

1

Why, what time do HR stay till?

It depends on the company, the role, and the day, but often things crop up or managers want to talk about their staff issues at the end of the day. Salary review etc are busy times of the year and people often want interviews after they have finished work themselves.

Reply 10

Carnationlilyrose

18

I did this and never looked back. That year was one of the most miserable of my life and I never regretted doing it. I went into teaching, which may provoke a similar reaction in some people, but there is life after audit, believe me, and it's a happier one if you aren't right for it.

Reply 11

RedArrow

3

It's always important that you LOVE your work. I'm very much in your shoes OP. The only difference is that I work in the PE industry and I like what I'm learning.

I am appearing for two exams this December, with little to no revision done and bloody slogging 12+ hours in the office trying to honor each and every deadline - I hardly have any time for myself at all during any time of the week.

However, I don't think I will quit; I might however appear for just one of the exam (F7) and I'm not all too pessimistic about my exam results considering I can solve consolidation pretty well. (Maybe you could appear for one instead?)

And my only advice is; if you are certain you are going to leave, perhaps you should start applying for jobs right away. If you get an offer that fits you bill, switch over. Good Luck. Life is tough for all of us in the beginning!

Reply 12

Destiny_808

OP

Original post by wasabi

May I ask why this is the case?

They are different to the type of people I grew up with. I'm not from a similar background to them, maybe that's why, they seem to be from affluent lifestyles and they remind me of the cast of Made In Chelsea.

Reply 13

Destiny_808

OP

Hi, I have not checked this thread for a while, it is really encouraging to read the replies. I ended up failing all three written exams and was fortunate enough to just miss the fine- scored over 30% on everything!!! I'm leaving the firm in 2 weeks time and have mixed feelings about it. I think I miss the idea of what it could have been like rather than the reality of how it was. The job was obvs toxic for me and I wrote down a list of why it's positive it's ended- I filled a whole A4 page!!! I loved it but hated it at the same time. I have lots of ideas now about what I want to do next so it is encouraging to hear that there's life after the Big 4. I am finding it hard to get over what I've lost- never expected to feel this way about it- but I think once I'm out of the door and I know I'll never be going back and seeing certain people again, I'll find it a lot easier to get over and move on.

Reply 14

AussieAccountant

Good attitude.

Perhaps for your circumstances you'll be able to spin it that you love what all the soft-skills you learned, how you loved the people you worked with and that you were always learning.... but accounting just isn't for you.

Presuming you have a decent resume, 1 year of Big 4 experience is fine. Sure, two is preferable, but one year of the soft-skill improvements that come from Big 4 can still be advertised quite strongly in your applications to future jobs ---- which you REALLY should already be applying for now.

Reply 15

blackmidnight

1

Original post by Destiny_808

Hi, I have not checked this thread for a while, it is really encouraging to read the replies. I ended up failing all three written exams and was fortunate enough to just miss the fine- scored over 30% on everything!!! I'm leaving the firm in 2 weeks time and have mixed feelings about it. I think I miss the idea of what it could have been like rather than the reality of how it was. The job was obvs toxic for me and I wrote down a list of why it's positive it's ended- I filled a whole A4 page!!! I loved it but hated it at the same time. I have lots of ideas now about what I want to do next so it is encouraging to hear that there's life after the Big 4. I am finding it hard to get over what I've lost- never expected to feel this way about it- but I think once I'm out of the door and I know I'll never be going back and seeing certain people again, I'll find it a lot easier to get over and move on.

Don't ever regret any of the choices you make. And for you, right now, this is the right choice (and it always will be). No job is worth being sick over.

My first professional job which paid brilliant was also a job I hated it so much. I also disliked the people I worked with but because they were lazy so shortly afterwards left and went down in salary by about £6k although for slightly different reasons. Best decision ever. The job was later deleted from a restructure so had I stayed in it, I would have been made redundant (the new person was almost made redundant). I moved into a different team and currently do something entirely different from my degree. And although it doesn't pay as well, I do enjoy it and it's given me lots of transferable skills which I hope to now use in a career I do want to progress in.

Good luck in whatever you decide to do but always remember, having a high fly job isn't everything - it should be something you enjoy.

Reply 16

Tokyoround

16

Original post by Destiny_808

Hi, I have not checked this thread for a while, it is really encouraging to read the replies. I ended up failing all three written exams and was fortunate enough to just miss the fine- scored over 30% on everything!!! I'm leaving the firm in 2 weeks time and have mixed feelings about it. I think I miss the idea of what it could have been like rather than the reality of how it was. The job was obvs toxic for me and I wrote down a list of why it's positive it's ended- I filled a whole A4 page!!! I loved it but hated it at the same time. I have lots of ideas now about what I want to do next so it is encouraging to hear that there's life after the Big 4. I am finding it hard to get over what I've lost- never expected to feel this way about it- but I think once I'm out of the door and I know I'll never be going back and seeing certain people again, I'll find it a lot easier to get over and move on.