MrStealYoGrill
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#1
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Hi everyone,

I got an internship offer for PwC in Audit but I also received an offer for Barclays in Risk. The PwC offer is outside of London but Risk is in London. What do you guys think? I'm worried that in Risk I wouldn't be able to get much career progression while in Audit I'm under the impression that although the salary is low for a while, you have a broader range of exit opportunities afterwards. Do any of you guys have any advice?

Not sure where to put this post so I'm leaving it in Finance and accountancy for now

Thanks!
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Abdul L
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(Original post by MrStealYoGrill)
Hi everyone,

I got an internship offer for PwC in Audit but I also received an offer for Barclays in Risk. The PwC offer is outside of London but Risk is in London. What do you guys think? I'm worried that in Risk I wouldn't be able to get much career progression while in Audit I'm under the impression that although the salary is low for a while, you have a broader range of exit opportunities afterwards. Do any of you guys have any advice?

Not sure where to put this post so I'm leaving it in Finance and accountancy for now

Thanks!
Hi, there will be opportunities to progress in both fields, but from my experience in working in the bank, there would be more opportunity in Audit than Risk.
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natninja
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(Original post by MrStealYoGrill)
Hi everyone,

I got an internship offer for PwC in Audit but I also received an offer for Barclays in Risk. The PwC offer is outside of London but Risk is in London. What do you guys think? I'm worried that in Risk I wouldn't be able to get much career progression while in Audit I'm under the impression that although the salary is low for a while, you have a broader range of exit opportunities afterwards. Do any of you guys have any advice?

Not sure where to put this post so I'm leaving it in Finance and accountancy for now

Thanks!
What sort of risk? Credit? Market? Ops? AML? That will be a key determinant in all honesty. Also if you enjoy risk, then do risk. Otherwise have a long hard think about where you want to be in five years (personally and professionally) and work back from there.
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thrwawy
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I agree depends what type of risk, I have also heard risk can be difficult to get out of // Audit salary’s in London aren’t exactly low at big 4 just not as high as consulting but way off banking.
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MrStealYoGrill
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(Original post by natninja)
What sort of risk? Credit? Market? Ops? AML? That will be a key determinant in all honesty. Also if you enjoy risk, then do risk. Otherwise have a long hard think about where you want to be in five years (personally and professionally) and work back from there.
I'm not sure honestly, since it is an internship it isn't necessarily focused. However I am leaning towards credit or ops (assuming I actually go for the offer.)

Yeah, I think I need to think long and hard about it. Big 4 audit is known for its grueling work hours and low pay. Considering my offer for pwc is in a regional office, the salary for interns is pro rata 18k and for graduates its like 22k and up to 28k by the end of 3 years whereas for Barclays its in London so starting salary is 35k for graduates. Thank you for your advice!
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natninja
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(Original post by MrStealYoGrill)
I'm not sure honestly, since it is an internship it isn't necessarily focused. However I am leaning towards credit or ops (assuming I actually go for the offer.)

Yeah, I think I need to think long and hard about it. Big 4 audit is known for its grueling work hours and low pay. Considering my offer for pwc is in a regional office, the salary for interns is pro rata 18k and for graduates its like 22k and up to 28k by the end of 3 years whereas for Barclays its in London so starting salary is 35k for graduates. Thank you for your advice!
So £22k in regions Vs £35k in London work out much closer than you think after rent and tax (the £35k will still be a bit more). The thing with risk is it does pigeon hole you a bit. Credit Risk and Market Risk are quite interesting but can be very quantitative - ops risk is personally avoid at all costs... As an ex-auditor in somewhat biased but feel that audit does give a really solid ground (and you can potentially move to risk late, most B4 have risk advisory practices and it's an easy move to that). Hours outside London tend not to be that bad to be honest, especially if not in an FS or listed company team.
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MrStealYoGrill
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(Original post by natninja)
So £22k in regions Vs £35k in London work out much closer than you think after rent and tax (the £35k will still be a bit more). The thing with risk is it does pigeon hole you a bit. Credit Risk and Market Risk are quite interesting but can be very quantitative - ops risk is personally avoid at all costs... As an ex-auditor in somewhat biased but feel that audit does give a really solid ground (and you can potentially move to risk late, most B4 have risk advisory practices and it's an easy move to that). Hours outside London tend not to be that bad to be honest, especially if not in an FS or listed company team.
Thanks for your insight! I did a lot more research and yeah I agree that audit is a better foundation. Out of curiosity, you mentioned you were an ex-audtiro, can I ask what you're doing now and what kind of salary range you're at? If I do go into audit and get my ACA qualification, would you say there are decent opportunities to work abroad? Such as maybe moving internally at pwc or another big 4 or something else.

Thank you!
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natninja
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(Original post by MrStealYoGrill)
Thanks for your insight! I did a lot more research and yeah I agree that audit is a better foundation. Out of curiosity, you mentioned you were an ex-audtiro, can I ask what you're doing now and what kind of salary range you're at? If I do go into audit and get my ACA qualification, would you say there are decent opportunities to work abroad? Such as maybe moving internally at pwc or another big 4 or something else.

Thank you!
I work in the portfolio and asset management function for a PE firm, total comp is in the £80-100k bracket (in first year after qualifying) though a decent slug of that is bonus - it's not representative of the comp you can expect as a NQ accountant which would more typically be in the £50-70k bracket and staying in audit would be more like £45-55k (reduce by £10-15k outside London). Yes there are opportunities to move abroad, one of my colleagues in practice transferred to the Cayman Islands, another spent six months in Guernsey and in my third year I spent a couple of weeks in New York - the B4 do also have secondment schemes though these are on pause due to COVID. There is also scope to move department or office, about half of my graduate class in my department moved to corporate finance and another few to consulting internally.
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