The Student Room Group

Big 4 Vs middle office

Hi, I'm a second year Economics student at a respected uni in the UK. I currently hold offers for barclays finance (middle office) 9 weeks and 38k and KPMG outside of London but decent city in audit 4 weeks and 18.5k. Of course Barclays salary looks a lot more appealing and it's a longer internship so I could learn more but atm I'm concerned with which would be better for later making a shift into financial advisory or wealth management for graduate roles? I was unable to receive an offer at firms within the sector I want to work in so now I have to pick from what I have. Thanks
Reply 1
Bump
If you’re sure you want financial advisory then KPMG is the way to go - you might struggle to make contacts in Advisory while in the audit function but it will at least give you a step in to somewhere that does it. If you get really stuck you could always going into audit for 3 years and then switch to advisory.
However, you could go for Barclays for the extra cash (and broader experience) and still get into advisory when you graduate. KPMG will just increase your chances more than Barclays.
Original post by Seba.fr1
If you’re sure you want financial advisory then KPMG is the way to go - you might struggle to make contacts in Advisory while in the audit function but it will at least give you a step in to somewhere that does it. If you get really stuck you could always going into audit for 3 years and then switch to advisory.
However, you could go for Barclays for the extra cash (and broader experience) and still get into advisory when you graduate. KPMG will just increase your chances more than Barclays.

I strongly strongly disagree with this. OP, do NOT do audit, especially if it is just a internship. You will gain much more valuable skills and experience than working in audit, I promise you that. And as you say, get the experience then switch to advisory by applying to graduate roles. IMO , you should not even be contemplating this decision, go for Barclays 100 percent. You are NOT more likely to get a graduate role in advisory by working in audit rather than Finance in Barclays.
(edited 4 years ago)
Reply 4
Original post by poohead23
I strongly strongly disagree with this. OP, do NOT do audit, especially if it is just a internship. You will gain much more valuable skills and experience than working in audit, I promise you that. And as you say, get the experience then switch to advisory by applying to graduate roles. IMO , you should not even be contemplating this decision, go for Barclays 100 percent. You are NOT more likely to get a graduate role in advisory by working in audit rather than Finance in Barclays.

I would have to renegade my offer from KPMG because I got it before Barclays so unfortunately would have to burn a bridge. Do you still think it would be worth it then?
Big 4 FA no questions in terms of jobs post graduation, not sure for an internship
Original post by Tom22561
I would have to renegade my offer from KPMG because I got it before Barclays so unfortunately would have to burn a bridge. Do you still think it would be worth it then?


I’m not sure but I don’t think they would really hold it against you in your application that you previously turned down an offer - you’d just be in the same pool as all the other grads. While the audit work experience might not be much help to FA in terms of skills, I still think you’d have an advantage from working at KPMG. If nothing else you can talk about way more in a future KPMG grad interview - the culture, the ways of working, the people you met, and other elements of the business not specific to FA. If you do go for audit ask to meet some people in FA in that office. It’s not ideal but you can get an advantage over the big pool of grads next year.
However, like I said, if you go with Barclays it could give you broader experience and you might enjoy it more. It also gives you the possible option to go with them later if you decide you like it more than FA
Original post by Tom22561
I would have to renegade my offer from KPMG because I got it before Barclays so unfortunately would have to burn a bridge. Do you still think it would be worth it then?


Original post by Seba.fr1
I’m not sure but I don’t think they would really hold it against you in your application that you previously turned down an offer - you’d just be in the same pool as all the other grads. While the audit work experience might not be much help to FA in terms of skills, I still think you’d have an advantage from working at KPMG. If nothing else you can talk about way more in a future KPMG grad interview - the culture, the ways of working, the people you met, and other elements of the business not specific to FA. If you do go for audit ask to meet some people in FA in that office. It’s not ideal but you can get an advantage over the big pool of grads next year.
However, like I said, if you go with Barclays it could give you broader experience and you might enjoy it more. It also gives you the possible option to go with them later if you decide you like it more than FA

Firstly, you the culture of the firm, the ways of working can be found out using research. You do not need to intern to have a good conversation about their culture in a interview situation. Secondly, if you are saying you can network with people in the FA office, this is true, but it will be a next to zero chance he will be able to switch service lines if that is what you are suggesting. And I have to disagree when you say it will give you an advantage. The only worthwhile advantage you will get is talking about how you already worked for a firm in a interview, but doing an entire internship based on that reason alone is completely pointless. Also I doubt hes just focusing on kpmg for graduate roles, he is going to be applying to many other firms. He won't have an advantage with those ones.

Barclays, as you say gives you much more experience and knowledge. Also you have a comfortable salary waiting for you if you decide FA is not right for you.

In conclusion, do not do audit. reengage on that offer immediately and accept Barclays.
Reply 8
The 9 weeks vs 4 weeks would be a huge factor for me. Its a massive difference in what you can learn and what you can discuss in an interview.
Original post by poohead23
Firstly, you the culture of the firm, the ways of working can be found out using research. You do not need to intern to have a good conversation about their culture in a interview situation. Secondly, if you are saying you can network with people in the FA office, this is true, but it will be a next to zero chance he will be able to switch service lines if that is what you are suggesting. And I have to disagree when you say it will give you an advantage. The only worthwhile advantage you will get is talking about how you already worked for a firm in a interview, but doing an entire internship based on that reason alone is completely pointless. Also I doubt hes just focusing on kpmg for graduate roles, he is going to be applying to many other firms. He won't have an advantage with those ones.

Barclays, as you say gives you much more experience and knowledge. Also you have a comfortable salary waiting for you if you decide FA is not right for you.

In conclusion, do not do audit. reengage on that offer immediately and accept Barclays.


By switching service lines I meant if he was really unlucky and got nothing in FA when he graduated, he could do audit at kpmg, get his aca, then move when qualified.
I guess speaking from personal experience, I did a lot of research into my big 4, but when you actually join it feels very different to what the culture is perceived as on the outside. I think that’s partly down to them putting out a more professional image, as well as the fact that the image they have is driven by their London offices, not the culture in other offices, which can be quite different (something that might not be so obvious from research, but is when you work there). Maybe he’ll do the KPMG internship and hate the company on the inside and know not to go there, or maybe he’ll love it, and know he wants to work there, FA or not.
Reply 10
Original post by Seba.fr1
By switching service lines I meant if he was really unlucky and got nothing in FA when he graduated, he could do audit at kpmg, get his aca, then move when qualified.
I guess speaking from personal experience, I did a lot of research into my big 4, but when you actually join it feels very different to what the culture is perceived as on the outside. I think that’s partly down to them putting out a more professional image, as well as the fact that the image they have is driven by their London offices, not the culture in other offices, which can be quite different (something that might not be so obvious from research, but is when you work there). Maybe he’ll do the KPMG internship and hate the company on the inside and know not to go there, or maybe he’ll love it, and know he wants to work there, FA or not


Original post by ajj2000
The 9 weeks vs 4 weeks would be a huge factor for me. Its a massive difference in what you can learn and what you can discuss in an interview.


Original post by poohead23
Firstly, you the culture of the firm, the ways of working can be found out using research. You do not need to intern to have a good conversation about their culture in a interview situation. Secondly, if you are saying you can network with people in the FA office, this is true, but it will be a next to zero chance he will be able to switch service lines if that is what you are suggesting. And I have to disagree when you say it will give you an advantage. The only worthwhile advantage you will get is talking about how you already worked for a firm in a interview, but doing an entire internship based on that reason alone is completely pointless. Also I doubt hes just focusing on kpmg for graduate roles, he is going to be applying to many other firms. He won't have an advantage with those ones.

Barclays, as you say gives you much more experience and knowledge. Also you have a comfortable salary waiting for you if you decide FA is not right for you.

In conclusion, do not do audit. reengage on that offer immediately and accept Barclays.

Thanks for all the help, I think I will have to burn the bridge with KPMG and accept Barclays. As you guys said before the 9 weeks plays a big factor and also the location. KPMG is in a city outside of London (about 1.5 hours away) and is unlinkley to have an amazing FA department even if by some miracle I managed to weasel my way into getting to network with them. Big 4 recruit massive amounts of students and I think I'll have a decent chance as a grad even without interning there or at the other big 4.

Barclays offers 3 week rotations across different areas in finance which I will get to choose so also potential for more variety and better experience. Barclays wealth management is a place I would love to end up and hopefully I would be able to leverage this internship into making a stronger app next year by saying that I loved Barclays culture but missed the client facing aspect which would be a solid reason to switch service lines imo. Also about 80% of Barclays interns get a full time offer so chances are I would also have an emergency back up.

Quick Reply

Latest

Trending

Trending