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Any tips on how to start and prepare my MBA Application? I don’t plan on applying till 2022 as I want to attend in 2023. What are things I can do to prepare now in order to have a strong application?Background: I’m aiming for HSW, M7, and top 15. I’m currently a Staff at EY within Business Consulting. I graduated from a Top 25 Business Undergrad - majoring in Finance and minor in Advertising with a 3.71 GPA. I want to pivot towards PM or Corporate Strategy in Tech, at Toyota, or Nike. TIA!
West Monroe where did you guys exit to after WM?
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Different IA shops can be very different. I think the most important factor is whether you have to do SOX (ick) or not. Then IA leadership and relations with the business.
Shops that don’t do SOX and are seen as adding value can be a pretty good gig. If you’re doing SOX and/or business sees you as the cops, it can be drudgery
Most people dont want to do IA, so it provides opportunities for folks who like the work and perform well to make good money.
I make 220. Annual bonus target is 110. Annual stock grant is 275. I live in medium cost of living city. I have a small team. It works for me.
is your company hiring?
Rising Star
IA is where you go if you want to live outside of work. The people who say it's where you go to die are workaholics. If you're cool with making $200-300k and working 40 hours a week, it's a decent gig.
240k to 270k for IA managers
The big ding on IA from my experience is that you’re often not looked upon fondly by your co-workers. Senior leadership often understand the importance of your work but mid to junior people don’t. I’ve worked a lot with finance/accounting teams that hate the internal audit people. I’ve also done work with like legal, compliance and HR (very unsexy and often annoying departments themselves) where even they looked down on the internal audit team. The vibe is that you’re the police and nobody wants to be too friendly or give you too much information because then you’ll be up in their business.
You can have my IA gig because the lack of respect and boredom is so pervasive and I’m at a Fortune 250 company that does regular IA and SOX work. Plus you’ve got some people who don’t have an audit background in your department so you may have to constantly translate for them and it’s annoying.
It’s great if you’ve got a family and want to “check out” and still get a paycheck but if you’re single, an unintentional workaholic, an innovative thinker, problem solver, or a person who likes complex work but still wants a life then pass on IA.
Actually not HR lol, just a bored senior internal auditor who regrets leaving public but I understand the lookout though. 🤣🤣🤣🤣
It is situational. Depends on the leader and company. I worked as a systems auditor (CISA) first for a national insurer (that was acquired), then for a Fortune 500 manufacturer. Conducted fraud investigations, manufacturing reviews, financial audits, acquisition due diligence, and of course systems. IA was considered the corporate financial recruitment and development arm. Most of the firm’s division controllers and CFOs came from internal audit. Their current corporate CFO was an IA colleague of mine 30 years ago. Worked in 3 Belgian cities, Scotland, London, Dominican Republic, and about 20 U.S. states. I became corporate special projects guy, then a systems architect. It was an ideal start to a career.
Is IA hiring? Tax person here 🤭🤭
With AI, IA will just be where you go to die, slower
Well good news is they wont outsource IA works anytime soon, AI or foreign
Everyday I wish I'd done IA
F
I’d avoid until you’re coming in at a number you’re comfortable with. Promotions & raises are slow, matching the pace of the work
Pro
It depends
Fund accounting is where you go to die
It depends on where you work