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The hrs are terrible, and we work for peanuts easentially on these salaries. No time for a social life. At the end of the day, it's still not value add work...
It's not value add for anyone but yourself; it teaches you how to think like an auditor. Now that I'm on the other side, I know what Deloitte is thinking and how to reason through the potential scenarios from their side.. Without B4, it would be pure conjecture. This is not all that different than people that float between government and business imo.
Would you say it's worth sticking it out until manager or leave as S1? I wanted to be on the cfo track but working in audit at ey is seriously taking a toll on me. It's not that I don't want to work hard anymore, just want some balance, sanity, and not have to work on vacations.
If working at EY is taking a toll on you, why do you think a role as CFO would be different?
For a senior role. Manager going for a manager role). I'm referring to audit in FSO. Also is there any chance of getting into a valaution role(outside of B4) or corporate finance as a senior2?
Exit opportunities can be good but you've got to play it right. I'm leaving PA right now for industry. I'm a senior but was already approved for promotion to manager. The industry job I am taking is for manager, so I guess you can say it's a lateral move. My salary as a manager in industry will be about 30% higher, though, and I'm expecting much better work life balance.
I think the work would be more value add and challenging vs filling oit checklists and forms. Plus there is monetary incentive to perfom well. Overall I think quality of life would be better. It's not just the hrs at ey, it's a host of things -- which I think are true for all big 4 audits
I moved to corporate finance as a A2 from PwC. Are you the ideal candidate? Maybe, maybe not - it truly all depends on the company and the need. My perspective is that B4 is a much more likely transition to SEC/mgmt reporting in corporate finance than a lot of other gigs.
Sorry S2^^^
I don't think that CFOs come from audit in the first place. They need to understand the value in good controls, sure, but they are more balanced between project management, valuation, operational optimization, etc. than auditors are. CFOs come from the business side, controllers come from the corp. fin/SOX side.
I think CFO track is definitely a possibility with B4 experience. But like SFA1 said above you probably need additional skills and experience outside of accounting to make it to CFO since it's not all about accounting. B4 will give you the tools and experience to leverage in situations where you find yourself outside of comfort zone but still succeed.
So in order to be on the CFO track, when is a good time to leave audit and which next role is best?
Quality of life better as cfo? No. Monetary incentive to perform well? You have that now you just don't realize it. I could go on. You are going to be disappointed once you realize things don't change.
Anecdotal evidence but I know a lot of people who went from PA to a controller role and I know just as many that went to CFO in middle market private companies. You just have to sell that you got operational experience by training staff, taking care of budgeting, being part of recruiting and hiring, and respecting client deadlines. It's easier to sell that as a manager than a senior, but if you interview well as as a senior you might still get the job. Alternatively, you can go in to a large company as a senior manager to controller, and politic your way into a CFO role. I have a buddy who did that (B4 experience). It'll be harder to get the controller position at a large company from a middle market firm.