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Big 4 Tax v Audit

Hey Everyone!

At the big 4, which is better in terms of pay (both short term and long term), experience, exit opportunities - Tax or audit?

Also, is tax really much more interesting than audit?

Thanks!
Hello there.

Audit:
Pros: Possible exit to controller or CFO, more client oriented work & more career autonomy than Tax.
Cons: More intense work schedule especially during busy seasons, lots of travelling, skills wouldn't be as transferable to a private practice & generally lower starting pay.

Tax:
Pros: In depth tax knowledge that can be applied to a private practice, less competitive than auditing or consulting & generally higher starting pay.
Cons: Extremely monotonous work if you do not enjoy it, intense work schedule especially during busy seasons, less client oriented work & hard to exit to a non tax role.

Hope this helps.
Reply 2
Original post by TheWham
Hey Everyone!

At the big 4, which is better in terms of pay (both short term and long term), experience, exit opportunities - Tax or audit?

Also, is tax really much more interesting than audit?

Thanks!

I started in tax in big four and am now going back into it after a stint in industry. I am not UK based but can share some general observations. Exit opportunities vary certainly, but you will want to develop some understanding of the other side if you in a main service line. Lines like international or TAS require deeper technical knowledge in the field be it tax or another aspect. TAS tax is a lot of fun. Demanding hours but interesting to me. As the world globalizes, TAS-International combinations are more common. That said you should appreciate the audit side for learning about controls and financial statement information that is not in the tax footnote. It is rare for a tax person to become a controller or CFO so keep that in mind. However, the skills and network you develop can lead to non-traditional opportunities. Very seriously keep in mind that the partner and managers with whom you work can make a job incredibly rewarding or boring and grueling. There are a plethora of great possible experiences. Be honest with yourself regarding what you think you want, how hard you are willing to work, and your "tester period". I.e. how long will you not quit to make a fair assessment? Good luck.
Reply 3
Original post by Totoro50
I started in tax in big four and am now going back into it after a stint in industry. I am not UK based but can share some general observations. Exit opportunities vary certainly, but you will want to develop some understanding of the other side if you in a main service line. Lines like international or TAS require deeper technical knowledge in the field be it tax or another aspect. TAS tax is a lot of fun. Demanding hours but interesting to me. As the world globalizes, TAS-International combinations are more common. That said you should appreciate the audit side for learning about controls and financial statement information that is not in the tax footnote. It is rare for a tax person to become a controller or CFO so keep that in mind. However, the skills and network you develop can lead to non-traditional opportunities. Very seriously keep in mind that the partner and managers with whom you work can make a job incredibly rewarding or boring and grueling. There are a plethora of great possible experiences. Be honest with yourself regarding what you think you want, how hard you are willing to work, and your "tester period". I.e. how long will you not quit to make a fair assessment? Good luck.


hi,

why are you going back to the big 4 after industry?

What are the hours in tax actually like? lots of people say it's more 9-5 but it doesn't seem like it? do the hours get better when you're older and have more commitments?

Is there any material i can read before starting the job at tax big 4? I'm from a science background i feel like i'm getting myself into something that I don't know much about but i'm suppose to be passionate about
Reply 4
Original post by dojokhat
hi,

why are you going back to the big 4 after industry?

What are the hours in tax actually like? lots of people say it's more 9-5 but it doesn't seem like it? do the hours get better when you're older and have more commitments?

Is there any material i can read before starting the job at tax big 4? I'm from a science background i feel like i'm getting myself into something that I don't know much about but i'm suppose to be passionate about

Hi there. For me I was just VP/Head of tax of a company and I wanted a change. I rebuilt the department and then found that I did not enjoy the day to day as much as I had hoped. Even in my age bracket, movement is normal but I have been 4-5 years in each role before moving to the next opportunity.

I enjoy the uneven work of international and M&A tax consulting. Its hard to plan that vacation and you might still work during. However, the variety of work is very interesting and is a good fit for me. I also like hard work and continuing to grow even 25 years into the job.

You may not get a choice, but I suggest that you identify a few industries that might interest you. Each has one or two unique tax point. However, clients really respond when you have some idea of what their company does during the day. Even as a new hire, any understanding is appreciated. Don't kiss up, but people will see even if they don't comment, that your understanding is bigger. Later in your career, that breadth, added to depth will open additional doors.

I am loathe to sound like somebody saying I used to walk uphill both ways, etc. However, in the US, I would say I averaged a 55-60 hour week on norm. But I was always on project based work and not the traditional line compliance. I cannot speak to current UK staff hours. I and my colleagues/friends globally will always notice who doesn't start on day one with a "whats the work/life balance equation?". Your early years will be what you make of them regardless of the kinder gentler world that some would have. You have the power to invest in yourself.

If you want to pm me I am happy to go into more depth. Your STEM background can be a huge advantage. A good team leader will appreciate what it took to complete that. If you are mathematically inclined, the actuarial side may be worth a look. Even if you start in tax, if you pass the exams on the side, you have a whole new world that is desperate for people. it really has to be your cup of tea though.

Let me know if you have other questions.

Totoro

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