Hey there! Sign in to join this conversationNew here? Join for free
    Offline

    2
    ReputationRep:
    (Original post by Anon07079191)
    Big4 Partner salaries are about £750k on average.
    You mean £75k, I assume.

    By the time OP is a partner it could be £100k due to inflation/ market trends
    Offline

    7
    ReputationRep:
    (Original post by CHEETS)
    You mean £75k, I assume.

    By the time OP is a partner it could be £100k due to inflation/ market trends
    No, I mean £750k. I work for Big4 so I have a vested interest however if you google it then you will see for yourself.
    Offline

    2
    ReputationRep:
    (Original post by Anon07079191)
    No, I mean £750k. I work for Big4 so I have a vested interest however if you google it then you will see for yourself.
    Umm ok, sure. Doesn't change the point I was trying to make to the OP about big 4 being potentially as well paid as banking in senior positions, does it?
    Offline

    7
    ReputationRep:
    (Original post by CHEETS)
    Umm ok, sure. Doesn't change the point I was trying to make to the OP about big 4 being potentially as well paid as banking in senior positions, does it?
    No, you're right, it doesn't. I was trying to give your point further weight, in fact!
    Offline

    18
    ReputationRep:
    (Original post by Anon07079191)
    No, you're right, it doesn't. I was trying to give your point further weight, in fact!
    But doesn't it take a lot longer to get to those senior positions in Big4 and at an older age?
    Offline

    7
    ReputationRep:
    (Original post by Terry Tibbs)
    But doesn't it take a lot longer to get to those senior positions in Big4 and at an older age?
    Not sure mate. About 35 would be fairly young to be a partner at Big4. Typical age, I'd imagine, is early 40s maybe. But I know little about baking salaries so I can't make comparisons I'm afraid.
    • TSR Support Team
    Offline

    20
    ReputationRep:
    TSR Support Team
    (Original post by Terry Tibbs)
    But doesn't it take a lot longer to get to those senior positions in Big4 and at an older age?
    It takes about 10-15 years to make MD in IB, on average.

    I'd imagine a particularly talented big4 accountant would make partner in 12-15 years, whilst the average is more 15-20 years.

    Posted from TSR Mobile
    Offline

    18
    ReputationRep:
    If I had to choose between IB or Big4 audit, I'd choose audit. You can always go into IB from Big 4 audit, and I'd rather not have the longer hours. They both earn good amounts (although IB exorbitantly so).
    Offline

    2
    ReputationRep:
    (Original post by Terry Tibbs)
    But doesn't it take a lot longer to get to those senior positions in Big4 and at an older age?
    It's more of a truncated sample bias.

    In banking, you make MD/partner by 35 (if you're going for it), or quit/get fired/ get pushed out once you miss the promotion a few times. So no one who makes partner does it at age 40-50, for example. Otherwise you content yourself with being a VP forever till another job comes along.

    In services, its more relaxed. I think you get many attempts at it, so if it doesn't happen first time round, you can keep trying till you get it.
    Offline

    21
    ReputationRep:
    (Original post by Princepieman)
    Do you honestly think the top grads who go to Big4 think of themselves as failures?! That's an arrogant assumption to make. Most don't go into high finance, only a small proportion of top grads do.

    Big4 Audit partners still make mid-high six figures (a fair amount make seven figures) it is by no means a 'crap' end-result. You would be mad to scoff at that.

    Big4 Audit --> Big4 CorpFin --> IB/PE/ER
    Big4 Audit --> Internal Audit/Finance at a corporation/Corporate Treasury/Financial Control
    Big4 Audit --> MBA

    Posted from TSR Mobile
    But very very few people at the big 4 become partners though- I've heard that only 2% of grads make it to partner...
    Offline

    16
    ReputationRep:
    Why would you work for any of these places? Just ask your father for a small loan, say around million pounds? Then get into real estate.
    • TSR Support Team
    Offline

    20
    ReputationRep:
    TSR Support Team
    (Original post by Trapz99)
    But very very few people at the big 4 become partners though- I've heard that only 2% of grads make it to partner...
    Same with MDs in IB, partners at law firms, senior execs at large companies.. It's quite obvious not everyone will stick around or be good enough to make the upper echelons of any career.
    Offline

    12
    ReputationRep:
    What a stupid question.......... Why would you be considered a failure, and even if someone did think you were, why would you give 2 shits...
    Last time I checked IB wasn't the only good job available in the UK, but maybe im wrong.....
    Offline

    1
    ReputationRep:
    (Original post by CHEETS)
    Banking - about 1 in 10 people I know genuinely love it.

    Audit - after the initial few years which are **** (same for any graduate career though, and still far less **** than life as a junior banker), I think about 90-95% of my qualified friends genuinely enjoy their jobs and have no intention of moving on.

    That said, I would've hated audit, so I guess fewer people go into audit go in just to try it. The ones who do it know they will probably like it. Whereas in banking, lots of people go in for he money, fully knowing they will hate it, so much higher turnover.
    Having been on an audit internship, I can assure you that the majority of people who I met wanted to leave and hated it, so I don't know where you got that 90-95% figure but it doesnt seem very correct. Most people are there to get their qualification and get out. The level of turnover is astounding. That being said, the audit environment is quite nice and relaxed compared to what I have seen, experienced and heard about banks.

    (Original post by CHEETS)
    You mean £75k, I assume.

    By the time OP is a partner it could be £100k due to inflation/ market trends
    This is also *******s. Audit partner salary is much higher than 200k as well.
    Offline

    2
    ReputationRep:
    (Original post by Bdoskail)
    Having been on an audit internship, I can assure you that the majority of people who I met wanted to leave and hated it, so I don't know where you got that 90-95% figure but it doesnt seem very correct. Most people are there to get their qualification and get out. The level of turnover is astounding. That being said, the audit environment is quite nice and relaxed compared to what I have seen, experienced and heard about banks.



    This is also *******s. Audit partner salary is much higher than 200k as well.

    First statement - I've worked in the financial services industry for 5+ years, as I've mentioned. But I'm sure your 6 week internship trumps that.

    Second statement - Yes, I've already addressed this. The point I was making is that partners in the Big 4 earn a lot.
    Offline

    1
    ReputationRep:
    (Original post by CHEETS)
    First statement - I've worked in the financial services industry for 5+ years, as I've mentioned. But I'm sure your 6 week internship trumps that.

    Second statement - Yes, I've already addressed this. The point I was making is that partners in the Big 4 earn a lot.
    1 year actually (specifically within an Audit firm as opposed to the broad financial services industry as you mentioned)

    And the fact that your initial response to the partners' salary was way off just goes to show how much great knowledge the financial services industry has given you.

    I maintain the statement that the 90-95 percentage you gave is classic *******s which is flung around these forums so freely.

    ta!
    Offline

    2
    ReputationRep:
    (Original post by Bdoskail)
    1 year actually (specifically within an Audit firm as opposed to the broad financial services industry as you mentioned)

    And the fact that your initial response to the partners' salary was way off just goes to show how much great knowledge the financial services industry has given you.

    I maintain the statement that the 90-95 percentage you gave is classic *******s which is flung around these forums so freely.

    ta!
    Not sure why you're getting so butthurt.

    I clearly mentioned that 90-95% of the people I know who have REMAINED in audit 5 years on and after qualifying were happy, compared to almost no one in the comparable banking cohort. I've acknowledged that life as a junior is a bit crap everywhere.

    the 75k was based on a previous poster saying 750k, which I felt was a bit high. Notice that I didn't come back to that poster with a bunch of swearwords. Since I obviously don't have first hand experience, I based my answer on that. Either way, 200k sounds much closer to the number I would have expected.

    Yes, I've already agreed that you were obviously the worlds greatest intern and your partner felt no choice but to confide his salary to his intern in light of your greatness.

    As for my financial services knowledge, I just felt that as someone who has spent quite a bit of time in full time graduate to mid-level positions in banking as well as having quite a bit of exposure to Audit, I would be in a good position to help the OP out with his question, as he was literally comparing between the two.
    Offline

    0
    ReputationRep:
    (Original post by CHEETS)
    Not sure why you're getting so butthurt.

    I clearly mentioned that 90-95% of the people I know who have REMAINED in audit 5 years on and after qualifying were happy, compared to almost no one in the comparable banking cohort. I've acknowledged that life as a junior is a bit crap everywhere.

    the 75k was based on a previous poster saying 750k, which I felt was a bit high. Notice that I didn't come back to that poster with a bunch of swearwords. Since I obviously don't have first hand experience, I based my answer on that. Either way, 200k sounds much closer to the number I would have expected.

    Yes, I've already agreed that you were obviously the worlds greatest intern and your partner felt no choice but to confide his salary to his intern in light of your greatness.

    As for my financial services knowledge, I just felt that as someone who has spent quite a bit of time in full time graduate to mid-level positions in banking as well as having quite a bit of exposure to Audit, I would be in a good position to help the OP out with his question, as he was literally comparing between the two.
    They publish average profit per partner. It's about 700-800k.

    http://www.independent.co.uk/news/bu...s-9690294.html
    Offline

    1
    ReputationRep:
    (Original post by throwawaycon)
    They publish average profit per partner. It's about 700-800k.

    http://www.independent.co.uk/news/bu...s-9690294.html
    CHEETS, every new post you keep on providing false or incomplete information, which is why I keep on coming back. I feel the original poster as well as everyone else shouldn't be misguided. As this user very well pointed out, this is closer to the average salary - I should know, like you said, a few of my partner friends told me (definitely not the fact that its common knowledge within the firm)

    (Original post by CHEETS)
    Not sure why you're getting so butthurt.

    I clearly mentioned that 90-95% of the people I know who have REMAINED in audit 5 years on and after qualifying were happy, compared to almost no one in the comparable banking cohort. I've acknowledged that life as a junior is a bit crap everywhere.

    the 75k was based on a previous poster saying 750k, which I felt was a bit high. Notice that I didn't come back to that poster with a bunch of swearwords. Since I obviously don't have first hand experience, I based my answer on that. Either way, 200k sounds much closer to the number I would have expected.

    Yes, I've already agreed that you were obviously the worlds greatest intern and your partner felt no choice but to confide his salary to his intern in light of your greatness.

    As for my financial services knowledge, I just felt that as someone who has spent quite a bit of time in full time graduate to mid-level positions in banking as well as having quite a bit of exposure to Audit, I would be in a good position to help the OP out with his question, as he was literally comparing between the two.
    By the length of this post, I think we can see who is butthurt. Also, the "swear word" i used is a synonym for testicles, was quite surprised when I saw it was blocked out, which is a shame because it really is a wonderful word.
    • TSR Support Team
    Offline

    20
    ReputationRep:
    TSR Support Team
    (Original post by Bdoskail)
    As this user very well pointed out, this is closer to the average salary - I should know, like you said, a few of my partner friends told me (definitely not the fact that its common knowledge within the firm)
    You have partner 'friends'? Aren't they quite a bit older than you..

    Posted from TSR Mobile
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    What's your favourite Christmas sweets?
    Useful resources

    Articles:

    Guide to investment bankingGuide to consultancy

    Featured recruiter profiles:

    Deutsche Bank logo

    Deutsche Bank is recruiting

    "Thrive in an international banking environment"

    Quick link:

    Unanswered investment banking and consultancy threads

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.