Turning down IB for big four

I can understand turning down IB for a policy job because money isn't everything and you wanted a work life balance etc, but going for audit? It's not exactly known for work life balance.

How many hours are you expecting to work a week in audit?

I'm not knocking you for making the choice, if you think auditing is more for you then go for it but I'm just surprised at the reason being given. Seems to me like the choice of IB v audit is very long hours for £60k,£80k,£100k and rising, or pretty long hours for £25k,£30k,£40k and rising.

Was it DB FO or BO?

The big 4 seem to have a decent salary and good career progression and once your qualified, you have lots of options career wise.
Not everyone wants to be stressed all day long even though it may pay a lot :P

Reply 43

TCW

7

Original post by Smtn

Was it DB FO or BO?

Seems to be skating around this question.

Reply 44

Smtn

16

FO > Big4 (especially consulting arms) > BO

....imo

Reply 45

Manchestergraduate

OP

Original post by Smtn

Was it DB FO or BO?

front office role. (sorry didn't see your question before)

(edited 13 years ago)

Reply 46

dumbdedumb

Audit is a very unrewarding work. There is no deliverables except for one signed page in annual report which practically says that you've done the work.

Big 4 Advisory is better in a sense that you actually produce a report for someone to read.

I hope you enjoy vouching. Truly soul numbing.

Reply 47

Manchestergraduate

OP

Original post by dumbdedumb

Audit is a very unrewarding work. There is no deliverables except for one signed page in annual report which practically says that you've done the work.

Big 4 Advisory is better in a sense that you actually produce a report for someone to read.

I hope you enjoy vouching. Truly soul numbing.

I'm actually really excited about starting with40 other graduates and getting an insight into business. Also the Aca is great on a cv and opens many fields. I know people say it's boring work but I'm going to reserve judgement on that until I've started! Considering how competitive it is with graduates, it can't be that bad surely!

Reply 48

uxa595

21

I thought audit was that bad?
Isn't tax the one where it's a ****load of number crunching?

Reply 49

ZÃ¼rich

20

Original post by jonny

You turned down IB for the big four?! Why??? I mean how can you go for the application process for IB, get an offer and then turn it down. This will be one of the worst decisions of your life. The starting salary is great and IB is what all business graduates aspire to. Audit is for people who couldn't get into IB. You will regret this! If i were you, change your mind and choose Deutsche!

Depends. Some of the guys who work 100 hour weeks in IB have a dogs life. No girlfriend, no close friends etc. Having lots of money is only worthless if your miserable.
Go wherever you'll be happiest, not where you're paid the most.

Reply 50

jonny

7

Original post by Zürich

Depends. Some of the guys who work 100 hour weeks in IB have a dogs life. No girlfriend, no close friends etc. Having lots of money is only worthless if your miserable.
Go wherever you'll be happiest, not where you're paid the most.

You are right

Reply 51

lee11

Once qualified ACA at a Big4 firm, is it possible to make a transition into IB?

Reply 52

Zweihander

3

Original post by Zürich

Depends. Some of the guys who work 100 hour weeks in IB have a dogs life. No girlfriend, no close friends etc. Having lots of money is only worthless if your miserable.
Go wherever you'll be happiest, not where you're paid the most.

This couldnt be any more true than when talking about being an IBD analyst.

Reply 53

Zweihander

3

Original post by lee11

Once qualified ACA at a Big4 firm, is it possible to make a transition into IB?

Yes, but you would most likely have to start as an analyst.

Reply 54

lee11

Original post by Zweihander

Yes, but you would most likely have to start as an analyst.

So, you apply for the grad scheme at the age of 24/25 with the ACA...

Reply 55

Pendulum

14

People seem to think that the ACA is some golden ticket into FO IB roles after doing 3 years of audit at big 4, now I'm not knocking auditors or big 4 firms, but if you think you're going to be headhunted for associate FO positions (ahead or in the same time as analysts) you're completely misguided. Reminds me of all the kids when I was going to uni who didn't get into medicine so studied biomedical science or some **** and went around saying oh well i'll 100% get into medicine as a postgrad. Doesn't work like that.

Reply 56

rex.t.zephron

Professional Qualification vs. No professional qualification.

Job security

Reply 57

MancStudent098

13

Original post by Manchestergraduate

I'm actually really excited about starting with40 other graduates and getting an insight into business. Also the Aca is great on a cv and opens many fields. I know people say it's boring work but I'm going to reserve judgement on that until I've started! Considering how competitive it is with graduates, it can't be that bad surely!

I think it is easy to underestimate how tragically boring audit is. Even other accountants think audit is particularly mind numbing. That said you spend most of the training period working along with loads of other young people, you get an extremely useful qualification and you can always transfer over to another sector after the 3 years is up. Probably a much better way to go than burning yourself out trying to do IB.

Reply 58

Kareir

2

Original post by Manchestergraduate

Right, I have two offers at the moment. The first is in investment banking and the other is for a big four audit firm. My friends and family think i am crazy but I am considering taking the audit job. I think i will enjoy it more and do not want to work 12 hours every single day. Also, the people at the big four firm were a lot friendlier than at the IB, in my experience.

Everyone though is telling me to go for IB as it will pay well over double the money.

I just wondered what other people thought of this. Would you be able to turn down an IB offer for an audit position?

I'm gonna assume you're not that old. Like... under 25? Under 30? Whatever. The point is that you have the energy and time available to slave for.. who knows? 5 years? Earn a load of money, then quit. You'll have cash, work experience, and you'll still be young enough to enjoy it. Then do something you like. Some people our age are stuck flipping burgers for decades.

_Kar.

Reply 59

Pendulum

14

Original post by rex.t.zephron

Professional Qualification vs. No professional qualification.

Job security

You only need job security if you're **** at your job.