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    I know quite a bit about the big4 and that they serve clients while the finance division at a bank supports the bank but I was curious about:
    1) Which one pays better?
    2) Do people in the finance division work long hours like those in the investment banking division?
    3) Have any of you guys worked in both? If so, which one did you find more interesting?
    4) I know that finance at an IB is very hard to get into and I've heard that Goldman Sachs and a few other banks hold insight weeks in finance. I've looked at their websites and they ask for "first year students of a three year degree or second year students of a four year degree"- does four year degree here only refer to MSci and MEng degrees or does it also apply to three year+ one year abroad degrees?
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    There's no one here on TSR who works in the Finance division of a bank as far as I know. I'd recommend posting this on a site like Wall Street oasis or Big4Bound although they would probably give biased responses.mthe best way is to ask people working in these positions on LinkedIn.
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    Big4 has better exit opps

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    (Original post by YoFadda)
    I know quite a bit about the big4 and that they serve clients while the finance division at a bank supports the bank but I was curious about:
    1) Which one pays better?
    2) Do people in the finance division work long hours like those in the investment banking division?
    3) Have any of you guys worked in both? If so, which one did you find more interesting?
    4) I know that finance at an IB is very hard to get into and I've heard that Goldman Sachs and a few other banks hold insight weeks in finance. I've looked at their websites and they ask for "first year students of a three year degree or second year students of a four year degree"- does four year degree here only refer to MSci and MEng degrees or does it also apply to three year+ one year abroad degrees?
    1) finance
    2) no
    3) -
    4) applies to if you graduate after 4 years from starting uni
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    (Original post by gr8wizard10)
    1) finance
    2) no
    3) -
    4) applies to if you graduate after 4 years from starting uni
    Finance in an IB might pay more in the short run but I believe that if you make it to partner at the Big4 Audit pay>Finance MD pay. Am I wrong?


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    (Original post by egdargi)
    Finance in an IB might pay more in the short run but I believe that if you make it to partner at the Big4 Audit pay>Finance MD pay. Am I wrong?


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    Not necessarily, big4 partners do have higher earning potential but a back office MD isn't too far off what junior partners make and certainly earn more than partners at non-big4 firms.

    Anyway the true draw of big4 audit isn't the partnership track but the fact that ACAs (combined with some time spent in Corp Fin or transaction services) are sought out for by middle market private equity firms, investment banks, some equity research divisions, finance departments at a higher level than a grad scheme would place one at etc..

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    (Original post by YoFadda)
    I know quite a bit about the big4 and that they serve clients while the finance division at a bank supports the bank but I was curious about:
    1) Which one pays better?
    2) Do people in the finance division work long hours like those in the investment banking division?
    3) Have any of you guys worked in both? If so, which one did you find more interesting?
    4) I know that finance at an IB is very hard to get into and I've heard that Goldman Sachs and a few other banks hold insight weeks in finance. I've looked at their websites and they ask for "first year students of a three year degree or second year students of a four year degree"- does four year degree here only refer to MSci and MEng degrees or does it also apply to three year+ one year abroad degrees?
    1) Finance at an investment bank initially, but audit may catch up in the long term if you pursue an exit with your ACA qualification or make partner

    2) No, 8am-6pm is what I've heard most

    4) Gr8wiz answered this already. It's meant for anyone on a four year course, basically you do the programme 2 years before you graduate. So if your course was 5 years long, you'd do the spring program in year 3. 4 years, year 2. 3 years, year 1. Integrated masters and year abroads/placement years - basically anything that prolongs the course.

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    Don't buy the partner hype!

    Never, ever, ever consider a Big 4 career in terms of what you might make as a partner.
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    (Original post by NW86)
    Don't buy the partner hype!

    Never, ever, ever consider a Big 4 career in terms of what you might make as a partner.
    Woah, you're back... I remember reading your posts about big4 consulting super informative

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    (Original post by Princepieman)
    Woah, you're back... I remember reading your posts about big4 consulting super informative

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    Sat in a hotel (the joys of consulting life) and thought I'd pop my head round the door to make sure TSR is still posting about Islam, How to get a girlfriend, was my boyfriend out of order for doing this.

    Glad to confirm that it never changes
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    (Original post by NW86)
    Sat in a hotel (the joys of consulting life) and thought I'd pop my head round the door to make sure TSR is still posting about Islam, How to get a girlfriend, was my boyfriend out of order for doing this.

    Glad to confirm that it never changes
    Ahahahahahah, classic. How's the progression been so far? What you expected?

    Yep, TSR's demographic tends to stay the same by the looks of things :lol:

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    (Original post by Princepieman)
    Ahahahahahah, classic. How's the progression been so far? What you expected?

    Yep, TSR's demographic tends to stay the same by the looks of things :lol:

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    I'm still at Big4 in Consulting, a month or so shy of 7 years.

    Progession is good, could have been better (but on a par with the majority who are still here), but then at times I could have worked harder! I'm sticking around for two more years I think (next promotion) and then probably packing it in to go contracting (if not sooner). Contracting, realistically and including tax, would roughly double my monthly take home overnight - holding out for the next promotion would increase that further
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    (Original post by NW86)
    I'm still at Big4 in Consulting, a month or so shy of 7 years.

    Progession is good, could have been better (but on a par with the majority who are still here), but then at times I could have worked harder! I'm sticking around for two more years I think (next promotion) and then probably packing it in to go contracting (if not sooner). Contracting, realistically and including tax, would roughly double my monthly take home overnight - holding out for the next promotion would increase that further
    7 years!! Incredible, congrats on sticking with it

    Damn, I've heard a lot about the contracting set up but moreso from people who work as software engineers. How would it work? I assume you'd do much the same as what you're doing now but on your terms?

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    (Original post by Princepieman)
    7 years!! Incredible, congrats on sticking with it

    Damn, I've heard a lot about the contracting set up but moreso from people who work as software engineers. How would it work? I assume you'd do much the same as what you're doing now but on your terms?

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    So... my clients pay my "Unnamed Big 4 Employer" from 1300-1800 a day for my time (depends on client, how long the engagement is, etc). I can assure you I don't see much of that, and the Partnership sees a lot more!

    Contracting wise I would do the same work, probably under the title of Senior Business Analyst, or Lead Analyst (which aren't particularly sexy titles, but as I've gotten older, and colleagues have agreed, titles mean less and less, it's about the bottom line) for around half the price, 700 a day (I'm not greedy), given some of the lovely (and legal!) tax routes you can use, e.g. paying yourself a dividend from the company you own and only employes you, rather than a salary, you end up with a signifcant bump in the take home.

    The other major part about it is, and I've got numerous coleagues who've done it and haven't looked back at all is no more internal business ********, no more trying to make yourself look great internally by doing all the extra-curricular nonsense, you get to do your job, get paid more, and go home on time. The big 4 can't really compete with that forever

    EDIT: Most of the contractors I know (of which I know 7 closely, 4 of those guys just take 2-3 months off a year and still end up making more than a Big 4 Senior Manager level... heartbreaking!)
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    (Original post by NW86)
    So... my clients pay my "Unnamed Big 4 Employer" from 1300-1800 a day for my time (depends on client, how long the engagement is, etc). I can assure you I don't see much of that, and the Partnership sees a lot more!

    Contracting wise I would do the same work, probably under the title of Senior Business Analyst, or Lead Analyst (which aren't particularly sexy titles, but as I've gotten older, and colleagues have agreed, titles mean less and less, it's about the bottom line) for around half the price, 700 a day (I'm not greedy), given some of the lovely (and legal!) tax routes you can use, e.g. paying yourself a dividend from the company you own and only employes you, rather than a salary, you end up with a signifcant bump in the take home.

    The other major part about it is, and I've got numerous coleagues who've done it and haven't looked back at all is no more internal business ********, no more trying to make yourself look great internally by doing all the extra-curricular nonsense, you get to do your job, get paid more, and go home on time. The big 4 can't really compete with that forever

    EDIT: Most of the contractors I know (of which I know 7 closely, 4 of those guys just take 2-3 months off a year and still end up making more than a Big 4 Senior Manager level... heartbreaking!)
    Woah, that is a solid gig, no wonder so many people pursue it.

    Only downside I can think of is the lack of pension and additional healthcare coverage but by making even more you could probably still cover that, right?*

    Sounds immense though, good luck with it! *
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    (Original post by Princepieman)
    Woah, that is a solid gig, no wonder so many people pursue it.

    Only downside I can think of is the lack of pension and additional healthcare coverage but by making even more you could probably still cover that, right?*

    Sounds immense though, good luck with it! *
    I'm only a placement year intern in a consulting firm. But at my client, there is a significant number of contractors pulling in over £200,000 per year before tax on pretty much what is a 9-5 job. It is really eye-opening.

    I pretty much earn my firm my yearly salary every month.

    You can easily cover private healthcare/pension on £1,000 per day, yes.

    The biggest downside is if there are cut backs or you get fired. I witnessed someone who was a contractor literally marched out the building with no notice a couple of weeks ago.

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