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Advice needed - boyfriend has almost 3.5 years of finance experience at a bank. Interviewed for PwC valuation senior associate and now recruiter says they want to hire him at “experienced associate” because he has no valuation experience. Is this too big of a step backwards in career? Should he push back and see if it gets him anywhere? If he does accept Associate, is it reasonable to ask for written, definitive timeline (1 year?) for promo to Senior upon meeting standards? Help!
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I moved up in firm size (this is the first Big4 I worked for) and I love it here. I like the exposure I get to difficult/complex/large transactions, I’m paid much better, my hours now (after getting out of audit) are way better than any other firm. I like the network I have. So, for some people it’s the perfect fit (after having tried multiple other sizes).
Same experience. I went from Mazars to PwC and loving it. The work can be done there is less admin time and time stressing over getting work and hours. I overall feel so happy with my decision. I kept waiting for the other shoe to drop because of the horrible stories of big 4. My teams couldn’t be nicer or more supportive.
Pro
I mean, for most people to have a successful accounting career they need a CPA and public accounting experience
As far as public accounting experience goes, B4 is better than any mid tier or local firm from my experience in audit. I was miserable at a mid tier and am now happy at Deloitte!
I think doing 2 years to set up your career is not a bad deal, also the hours are not that bad. I worked crazy for 2 months and chilled the rest of the year
If you believe you can have a great career straight into industry without PA, go for it but I seen a lot of senior accountants in their 30s-40s to know it’s harder than people make it seem
Honestly, I regret coming into B4 or doing accounting in general. Tons of better career out there that offers more pay and wlb.
Other than the top of the legal field, it’s a pretty comparable pay scale. Sure there’s the top 5% of the industry that come out making 200k, but median is like 60-70k for entry attorneys and that’s after another 3 years of school.
Edit: point being and this generally goes for most of the fields here - the average big4 hire is not getting into those jobs. Are there people who could? Obviously, yes; but the more common answer is going to be no - IB/biglaw/FAANG are not comparable employers.
Depending on the career path you want to take it could be a requirement for certain next positions
Yep. Have an older than me friend who never did B4, but had gone on to controller/CFO roles at mid-size companies. He was laid off in the Great Recession. Even though he had 20 years of experience, he had trouble finding a comparable job because he didn’t have B4 he experience.
The job market for accounting is in fire now, and that’s great, especially if it makes salaries go up. But you want to be sure you’re resume is competitive in a recession, too.
I’m not a Big4 employee but I’ve applied to several jobs that require 5 years equivalent experience but only a min of 1-2 yrs of big4 experience, and these jobs easily pay 6 figs and up. I think these companies are familiar with the demands, project exposures and work ethic of a big4 even though they understand their demands are less stressful than one.
In my opinion, the companies believe if you’re surviving a big4, then you may have the guts!
In general, big4 experience speaks volume of credibility and competitiveness on your resume/profile.
If I have the opportunity to with for a big4, I would take it, knowing I’ll suffer for 2 years and plan an exit exit strategy, hoping the sacrifice pays off in the long run.
Yep. I have a hair over 2 years in at Big4 and just received an offer for a position which advertised a 5-6 years experience minimum.
Your use of a 'slave' analogy is quite ridiculous in the situation you describe
Slavery? You really went there? You think people can’t leave and get another job?
You know what people complaining about the long hours means? Those people are still there enduring the hours. They didn’t truly believe they were being so mistreated that in this incredibly good job market they couldn’t go somewhere else and get treated better for similar experience. B4 provides a lot of complex engagements for people to learn on. You may get that somewhere else, but it’s more likely if you’re at a B4.
This is an interesting take but leads me back to relativity. I have the same perception of working in Big Law which was my option but chose Big Accounting because I can still do international tax work with my LLM but have a much better work life balance. Sure my friends in Big Law make twice my salary BUT I’m playing golf on the weekends and they are hanging out in between reading briefs. It’s all about what you are looking for and what you are willing to sacrifice for a certain “period of time” to achieve your ultimate goals. You put 6 years into Big Law, that time is gonna suck but after, your salary and opportunities will be crazy, one could make the same argument for the big four. It’s sounds like your position is more of an assumption than based on context from those actually in it. Don’t let the unknown deter you, educate yourself ;)
I am not miserable at the big 4. My husband and I both work a lot and we feel that what we put into our jobs we get out of them. And we also feel like we can set boundaries and make time for kids, vacations, and each other. i’ve gotten used to the stress. In fact, if I did not have a stressful job, I would be very bored. The big 4 has also been there for me when I have needed time away, and when I needed to change my career. They have always pushed me and I’m very grateful for the experiences I’ve had and the knowledge I have gained. I also love working with people who are very driven. I do not envy the people who work at my clients.
I have good work/life balance, I work on complex issues with big name clients, and I really enjoy my team. Your experience is really dependent on the direct people you work with, type of work, and your ability to build boundaries. I have enjoyed my experience.
Workaholics exist. Also, they serve some kool aid
The experience is likely not immensely better than any other public accounting firm, but industry employers know and respect the Big4 brands, for better or worse. I think the reason for it is to have it on your resume more than anything.
I’m a realist in the sense that the big firms have plenty of headaches but it’s afforded me the opportunity to work with a handful of the largest and most complex Company’s in my sector, I’ve lived in another country for an extended tour (largely on the Firm’s dime), I’ve met some great people both in the Firm and at my clients, and it’s given me the autonomy I want to raise my family. There are plenty of opportunities outside the big firm’s but it’s all a matter of perspective on what you make it
No grind, no shine.
I enjoy learning stuff that may help me later on for my future goals. If they are willing to pay me to learn, then it's a deal. I don't plan to stay there forever.
You have a right to your opinion 🤷🏼♂️
I never understood the hype of big 4 either lol. I am only in it for the career mobility though
Partnership my man- only reason
People want to get but do not want to work for it. That’s the reason, always.
I miss EY so much, I applied back but they didn’t take me. I wish I knew how good I had it there.
Happy to give you a pwc referral for audit if you wanna make a switch back