The Student Room Group

AAT at Big 4 vs ACA at local firm

I have an offer for an AAT scheme at a Big 4 firm and an ACA scheme at a small local firm, but I'm conflicted about which one to go for...

I would assume that the training, prestige and clients will be a lot better at the Big 4 firm than the local one, but the ACA is the more respected qualification.

Which one do you guys think I should go for and why?

Scroll to see replies

Reply 1
Completing ATA will get exemption for ACA.
For job security, it's safer to go with the big 4.
If you are from a average uni with only a 2:1, I will stick with the big 4 because you are lucky to get in. On the other hand, from top uni & 1st class, take the risk and go for the small firm. Once you qualified as CA, you can apply to the big one again.
Please remember, small firm will deal with small client, but jobs do vary. Big firm, monotonous work before you qualify but you will have the opportunity to move to different department.
I hope the above will help.


This was posted from The Student Room's iPhone/iPad App
Reply 2
When you say AAT, is it the fast track?

Surely would will go on to become chartered with big 4 afterwards?
Reply 3
Original post by californiadreamin
I have an offer for an AAT scheme at a Big 4 firm and an ACA scheme at a small local firm, but I'm conflicted about which one to go for...

I would assume that the training, prestige and clients will be a lot better at the Big 4 firm than the local one, but the ACA is the more respected qualification.

Which one do you guys think I should go for and why?


Ignoring the qualifications for a moment, both routes have their advantages and you should probably consider what kind of work you'd prefer to be doing. At the end of the day, it'd be nice to actually enjoy the work.

Big 4
The Big 4 option will give you experience of dealing with more complicated aspects of accounting - exposure to IFRS, consolidations, experience of dealing with some complex areas - e.g. share options, intangible assets. The technical knowledge you'll gain will likely be of higher level than what you'd get at the small local firm. Helpful, if you one day want to work for a big company with complex financial reporting.

The internal training and support you'll receive at the Big 4 will be very good. Due to limited resources, you may not get the same level of support at local firm.

Big 4 departments are big, so in theory should be really sociable. There's a good peer group and support network - lots of people at a similar age. Some people say it's like an extention of uni. At the local firm, maybe you won't get such a social scene.

Disadvantages are that in your initial years of training, you probably won't be able to switch departments and you could be stuck doing something you dislike for 3+ years. This can be incredibly soul destroying.

Departments are so big that it might feel unfriendly. You'll be part of an incredibly competitive environment.

The last disadvantage - THE HOURS. In busy season, you could be working til midnight.


Local firm
I don't know just how small this firm is, so the following is largely my assumptions.

At the local firm, I'm guessing you may be able to get involved in a wider variety of work - for example, dividing your time between payroll preparation, tax, management accounting, bookkeeping, audit, and statutory accounts prep. Basically, you could be a really well-rounded accountant gaining a lot of practical skills, a jack of all trades. These skills will enable you to work as an accountant in almost any company.

Another advantage is that you might get to take on more responsibility and progress onto a senior level relatively quickly as the staff pool is smaller than at the Big 4. Taking on more responsibility equals receiving more respect from the client and this makes work a whole lot more pleasant.

The hours will almost certainly be more reasonable than Big 4.

Work will probably be less time-pressured. Working with smaller clients that are perhaps private companies - reporting deadlines aren't as tight as listed clients.

Disadvantages - see those mentioned for Big 4.
Reply 4
Original post by californiadreamin
I have an offer for an AAT scheme at a Big 4 firm and an ACA scheme at a small local firm, but I'm conflicted about which one to go for...

I would assume that the training, prestige and clients will be a lot better at the Big 4 firm than the local one, but the ACA is the more respected qualification.

Which one do you guys think I should go for and why?


You need to give a bit more detail. What programme is it? Does the big 4 contract lead on to the ACA? I'd be surprised if it didn't.

Original post by monk_keys
When you say AAT, is it the fast track?

Surely would will go on to become chartered with big 4 afterwards?


This. Exactly what I was thinking, I assume this is some sort of school leaver thing?



Good summary.
Original post by poony
Completing ATA will get exemption for ACA.
For job security, it's safer to go with the big 4.
If you are from a average uni with only a 2:1, I will stick with the big 4 because you are lucky to get in. On the other hand, from top uni & 1st class, take the risk and go for the small firm. Once you qualified as CA, you can apply to the big one again.
Please remember, small firm will deal with small client, but jobs do vary. Big firm, monotonous work before you qualify but you will have the opportunity to move to different department.
I hope the above will help.


This was posted from The Student Room's iPhone/iPad App


Are there particular modules that you need to take for AAT to get the exemptions for ACA? If so, what modules would these be?

Also, ACA appears to take three years normally. Would this length of time go down significantly with the exemptions?
Reply 6
Same length you'd just miss an exam, and in the event the company might pressure you to take the exam anyway for fuller knowledge.
Original post by monk_keys
When you say AAT, is it the fast track?

Surely would will go on to become chartered with big 4 afterwards?



Original post by M1011
You need to give a bit more detail. What programme is it? Does the big 4 contract lead on to the ACA? I'd be surprised if it didn't.



This. Exactly what I was thinking, I assume this is some sort of school leaver thing?



Good summary.


The scheme with the Big 4 firm allows me to study for an AAT and work within the Advisory division. ACA is not part of the scheme, but they say that there's 'a chance' to be put through the ACA, but that's determined by business needs and judged on an individual basis.

Although the ACA would be preferable, I kind of feel that it would be a waste to reject the Big 4 firm. I mean... there's a possibility (even if it isn't set in stone) to study for ACA and surely an AAT with three years work experience at a Big 4 company won't be sniffed at if I tried to find an ACA contract with another company at a later stage? What do you think?
Original post by S
Ignoring the qualifications for a moment, both routes have their advantages and you should probably consider what kind of work you'd prefer to be doing. At the end of the day, it'd be nice to actually enjoy the work.

Big 4
The Big 4 option will give you experience of dealing with more complicated aspects of accounting - exposure to IFRS, consolidations, experience of dealing with some complex areas - e.g. share options, intangible assets. The technical knowledge you'll gain will likely be of higher level than what you'd get at the small local firm. Helpful, if you one day want to work for a big company with complex financial reporting.

The internal training and support you'll receive at the Big 4 will be very good. Due to limited resources, you may not get the same level of support at local firm.

Big 4 departments are big, so in theory should be really sociable. There's a good peer group and support network - lots of people at a similar age. Some people say it's like an extention of uni. At the local firm, maybe you won't get such a social scene.

Disadvantages are that in your initial years of training, you probably won't be able to switch departments and you could be stuck doing something you dislike for 3+ years. This can be incredibly soul destroying.

Departments are so big that it might feel unfriendly. You'll be part of an incredibly competitive environment.

The last disadvantage - THE HOURS. In busy season, you could be working til midnight.


Local firm
I don't know just how small this firm is, so the following is largely my assumptions.

At the local firm, I'm guessing you may be able to get involved in a wider variety of work - for example, dividing your time between payroll preparation, tax, management accounting, bookkeeping, audit, and statutory accounts prep. Basically, you could be a really well-rounded accountant gaining a lot of practical skills, a jack of all trades. These skills will enable you to work as an accountant in almost any company.

Another advantage is that you might get to take on more responsibility and progress onto a senior level relatively quickly as the staff pool is smaller than at the Big 4. Taking on more responsibility equals receiving more respect from the client and this makes work a whole lot more pleasant.

The hours will almost certainly be more reasonable than Big 4.

Work will probably be less time-pressured. Working with smaller clients that are perhaps private companies - reporting deadlines aren't as tight as listed clients.

Disadvantages - see those mentioned for Big 4.


Thanks for making such a detailed post!

The local firm isn't even in the Top 100 firms listed by Accountancy Age so I'm just worried that even if I do get an ACA there, I won't have sufficient practical experience or the respectability to make the transition to a Big 4 firm.

Even though it would take six years for me to do AAT and then ACA would you say it's worth it for the experience at a Big 4 firm?
Reply 9
It's hard without knowing the scheme in detail and the size of the other firm but my guts say go big 4.

My worry is that the majority of ACA contracts go to graduates and I don't know the numbers or process for those with experience. If you made it through to AAT 4 I can't imagine you wouldn't be offered a contract by your firm, but if you don't...it's a pretty big unknown.
Original post by monk_keys
Same length you'd just miss an exam, and in the event the company might pressure you to take the exam anyway for fuller knowledge.



Original post by monk_keys
It's hard without knowing the scheme in detail and the size of the other firm but my guts say go big 4.

My worry is that the majority of ACA contracts go to graduates and I don't know the numbers or process for those with experience. If you made it through to AAT 4 I can't imagine you wouldn't be offered a contract by your firm, but if you don't...it's a pretty big unknown.


You only get to miss one exam?! Do you know what AAT modules get you the exemptions?

I'm hoping that even if the Big 4 firm doesn't offer me the ACA, the AAT and the experience there will allow me to move to another firm that does.
Looks like the exemptions are

Accounting

Assurance

Business and Finance

Management Information

Principles of Taxation

http://apps.icaew.com/index.cfm/route/146395/fuseaction/profAward/icaew_ga/en/Students/Credit_for_prior_learning_directory
(edited 11 years ago)
Reply 12
Same principle as going to top universities. If you didn't meet the requirement, they like you, offered you the foundation course. Of course you can go to a less reputable uni for a BA or BSc.

In big firm, you will get more support while you are studying because finding temporary cover is easy with so many staff around. Not so easy if you are at a small firm.

Time flies once you are in the industry, don't worry it will take slightly longer route for you to qualify. You will if you are hard working.

Can provide more information on exemption if you can provide your a level and degree qualification.


This was posted from The Student Room's iPhone/iPad App
Definately Big 4 - they will always support you in doing the ACA during or after AAT, they have to say 'a chance' for legal reasons.

No contest - always big4
Reply 14
Ok so, I'm about to start my A-levels in September. Would I be accepted by one the big 4 straight after college? Or do I need to go Uni?
Reply 16
Original post by noorul87
Ok so, I'm about to start my A-levels in September. Would I be accepted by one the big 4 straight after college? Or do I need to go Uni?


Research both methods, advantages and disadvantages either way.
Reply 17
Original post by Samtheman1
Definately Big 4 - they will always support you in doing the ACA during or after AAT, they have to say 'a chance' for legal reasons.

No contest - always big4


Why always big 4?

In a big company you are just a commodity, where as the smaller ones you can work your way up a lot quicker and you are an actual person.

Smaller firm - no contest.
Original post by mmac900
Why always big 4?

In a big company you are just a commodity, where as the smaller ones you can work your way up a lot quicker and you are an actual person.

Smaller firm - no contest.


Not necessarily, you get promoted every year at the big 4 until manager and then as long as you satisfy the requirements you get promoted quite quickly from there.

As a result you can make partner by 32.

You would never make partner at 32 in a smaller firm even if you were an accounting god.

Throw into the mix the superior training, exposure to larger clients, working with generally brighter people, and kudos that goes with the brand - that, my friend, is no contest.
Reply 19
Original post by Samtheman1
Not necessarily, you get promoted every year at the big 4 until manager and then as long as you satisfy the requirements you get promoted quite quickly from there.

As a result you can make partner by 32.

You would never make partner at 32 in a smaller firm even if you were an accounting god.

Throw into the mix the superior training, exposure to larger clients, working with generally brighter people, and kudos that goes with the brand - that, my friend, is no contest.


So what do you base this on? Do you actually have experience working for both big four and sme?

Quick Reply

Latest