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What do you mean by 'better exposure of clients’?
Big 4 all the way! Screw middle market
I made the switch and it’s really not that different. If you clients fall on the lower end of the middle market they are actually more interested in the work you are doing for them and more receptive to your recommendations. Remember just because the target market is middle market doesn’t mean your not going to have large clients. Every client I worked for that we were replacing a B4 team or resource on shit talked the B4 the whole time we were there. They see right through the value of the B4 when the projects are staffed by 22 year old kids fresh out of college year after year.
The B4 clients you guys "take over" are typically not public audit clients. There is a ton of PCAOB exposure going with a smaller firm. If the client is a small cap and is willing to take that risk, that's fine. I just have a ton of friends in those regional firms poaching smaller public clients and it doesn't always go as smoothly as you'd like to believe from an audit program standpoint and expertise. I was in industry and we had PwC as our auditor and they were awful because they didn't tailor their program to private company standards and were trying to test controls like we were headed towards SOX. Sorry, no you aren't getting comfort or reducing substantive testing from an accounting team of 5 guys use your head. I was pushing in that case obviously for a smaller firm, but those are the types you're gonna "poach". You aren't poaching F500.
Not to mention some jobs lay out "Big 4" as an experience requirement.
Get the experience and you can go back. You can always step down, you can't always "step up". If public is not your long game there's absolutely no advantage to a long career in middle market.
Two of my personal frienda from regionals both just went to Big 4 just because she was getting turned down left and right from jobs got "no Big 4". That's just how it is in some companies regardless how you feel about getting "face time" as a client and this and that. It's probably more like lazy vetting of skills but Big 4 ensures you have exposure to a certain standard and level of client and you're not just on a traveling pension audit across the continental USA and that's all you really know.
If you want larger or public companies, yes
Better exposure to clients is relative. A certain industry? Variety? Large public clients?
I chose middle market because I wanted more variety and the ability of trying different things.
It'll be on your resume and you can always go back to Middle Market if you don't like Big 4
^lol what based on the typical PA hierarchy of course it’s staffed by 22 y/o fresh kids.. that’s how the model is. They are then supported by seniors and up
Are you suggesting clients would prefer audits run by 40 yr old seniors? I don’t really understand your point at all
Apologies for discrediting the hierarchy. So supported by 24 year olds. My point stands. The client still sees through it.
The question re: 24 yr olds is, how is that different than any other firm?
Do you know how I know you’ve been at the same firm since day 0 ?
Clients want to see someone with experience. It’s not that your staff and seniors are young. (Some mid market firms do not hire out of college for audit) it’s because your managers spend less then 4-5 hours on a client site. Less then half they are interacting with the client. My point is we take over B4 clients and they call this out.
Clients want managers, sr mgrs, and partners with experience. They want seniors who have experience in the industry or on that specific client. They do not want a 40 yr old who has been a senior for 15 years with no promotions.
I don’t know what size clients you are taking over from big 4, but personally on my teams there is a huge manager and above presence in the field and strong interactions with the client
Yeah my client has at least one manager and sr manager on site every day of the year. Probably a partner on site 80% of the days. Sr. Managers and Partners have their own office at the client.