Went from Big 4 Audit to a high paying Commercial Strategy role - Ask me anything!

I know the feeling you may be having, that you may be trapped in audit (or an equivalent accounting role) for the foreseeable and utterly dire future! But there are plenty of interesting roles/careers out there and no matter if a recruiter tells you otherwise, YOU CAN get them!

I DOUBLED my salary in doing so and it's absolutely possible for you to do the same.

I want to share some of the knowledge and tricks I learnt on my way out, so please feel free to ask me anything that will help you get out of audit.

Which Uni did you go?
What course did you do?
Anything extra you did to put into your CV which has helped you later on in getting into the big 4?
Was it difficult getting into a big 4? How competitive was it? What was the deciding factor between you and other candidates?

I feel like I'm asking way too much but seeing how I want to do accountancy and finance in uni, get into one of the big 4 (preferably KPMG) and then become a chartered accountant.....I MUST KNOWWW!

I know the feeling you may be having, that you may be trapped in audit (or an equivalent accounting role) for the foreseeable and utterly dire future! But there are plenty of interesting roles/careers out there and no matter if a recruiter tells you otherwise, YOU CAN get them!

I DOUBLED my salary in doing so and it's absolutely possible for you to do the same.

I want to share some of the knowledge and tricks I learnt on my way out, so please feel free to ask me anything that will help you get out of audit.

ajj2000,

I did Business at a fairly decent University, nothing fancy. Rarely did anyone ask about my A-Levels, once you have a CA qualification under your belt and some work experience, you shouldn't need to worry about them so much (depending on what you want to go into next).

Being a qualified accountant at a Big 4 helps, but if you qualify outside of the Big 4 it's completely possible to make a similar move, you just have to play your cards differently. For example, if you're from outside of the Big 4, focus your pitch to recruiters/employers much more heavily on your experiences rather than the prestigious client names that come with a role at the Big 4.

You've got to remember that there are a whole bunch of accountants qualifying every year from all types and sizes of companies (all over the world!) so you NEED TO NAIL YOUR PITCH and be able to differentiate yourself.

I actually switched to a completely new industry too (from Financial Services to FMCG), so my industry background was of no relevance whatsoever. If you stay in a relevant industry this does make the move out of audit into commercial & strategy roles easier, however, I was determined to move into an industry I was more passionate about and this shows it's possible to shake things up if you really want to.

Are you newly qualified? Are you at a Big 4?

Check out my blog at theswiftexit for other tips that might also be helpful.

I know the feeling you may be having, that you may be trapped in audit (or an equivalent accounting role) for the foreseeable and utterly dire future! But there are plenty of interesting roles/careers out there and no matter if a recruiter tells you otherwise, YOU CAN get them!

I DOUBLED my salary in doing so and it's absolutely possible for you to do the same.

I want to share some of the knowledge and tricks I learnt on my way out, so please feel free to ask me anything that will help you get out of audit.

Hi

Thanks for your response. I'm Big 4 qualified - I qualified about 20 years ago. I was looking through this site as I noticed a real lack of decent advise for people looking to enter or progress with accountancy exams and careers.

I love your blog! Just had a quick look at it. You write some great stuff - lots I agree with. I think I've made most of the mistakes you write about!

Did you qualify as a chartered accountant? What made you decide to leave accounting? Or are you still in accounting just working in a more specific industry role? What did you hate about Auditing?

How long were you with one of the big 4 for? What specifically did you not like, or was it mainly just the repetitiveness of the work?

What should I do while at the Big 4 to make the exit easier?

how much work experience did you have before applying to the big 4did you do any internships?how likely do you think a 3rd year chemistry student who has a part time job (irrelevant to accounting, but has transferrable skills) but no accounting experience or history is able to get a training contract

Do you think working in audit at Big 4 would help you move into an analyst position at an asset management firm?

If so, would you recommend completing your ACA first, even though you'll likely have to start from the bottom and complete the CFA anyway?

I've seen colleagues move into asset management post-qualifying in audit.

In terms of the skills required for asset management, you need to have an analytical & financial modelling skillset which you may or may not get a huge chance to build in audit. It will depend on what projects you manage to get onto and how you can prove you have built these skills. You can, however, put yourself forward as much as possible for opportunities (make it known to those around you that this is what you are looking for!) and/or start learning financial modelling in your own time. If asset management is what you know you want to do, I would recommend you go straight for it. You don't need an accounting qualification to do it but will need to have some sort of financial degree. Are you set on doing audit or do have an offer already? If you are not set on audit but want an ACA/CA qualification before heading to asset management, then I would suggest trying to get into transaction services/corporate finance at the Big 4 instead. You will have more opportunities to get involved in financial modelling, analysing companies through due diligence and some exposure to the client sales cycles, all of which will be sought after in asset management.

Another option for you, which I would only recommend if you are happy to study hard, would be to do CFA level 1 after having completed the ACA/CA exams and whilst biding your last 6-12 months of Big 4 employment contract. This will show your genuine interest and commitment. A few of my colleagues did the same to give them some leverage in the recruitment process.

Another simple way to give yourself a better chance of getting into asset management is to audit asset management firms. You will understand how their business is run, have shown an interest in the sector and also make some contacts. Request this BEFORE you start working at the Big 4 as it's much harder to move once you are already booked on to clients in a certain sector.

I'm currently half way through my ACA exams at a Big 4 in London. I'd like to apply to graduate schemes beginning next September, which will be after I've completed 2 years of my graduate scheme.

Unfortunately my degree isn't finance related, I have a masters in chemical engineering. I do, however, audit asset management clients (mostly their fund administrators, rather than the entity itself).

There is absolutely no opportunity for someone at my grade to learn financial modelling in work, but this could be something I do in my own time. I don't think I'd have much time before interviews for schemes starting next year, however.

What else do you think I could do to make myself a worthwhile candidate? So far, an engineering degree and an auditing background doesn't feel like it'd give me much of a leg to stand on by comparison to the people who appear to be applying in these threads. Especially considering how easy and mind numbing auditing as an associate actually is!