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 Topic: Big 4 Experienced v. Internal Audit Corp. ( Topic Closed)
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cluv8484
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Joined: 18 Nov 2011
Location: United States
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Posts: 3
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| Posted: 18 Nov 2011 at 09:34 | IP Logged
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Hey guys,
Lookin for some advice....I have worked at a regional
Chicago firm for the past 3+ years, currently in a senior
auditor role. Looking to move onto something bigger,
better pay, more resources. I have 2 offers right now and
am having a tough time choosing the best path.
I can make a move to a Big 4, come in at a senior
assistant and then move up to senior role after 6 mo. to
a year (once i understand the culture & how they run
engagements, etc.. I can started leading jobs). The other
is a internal auditor position, working for a global
corporation, small dept. but big company. Im 27 and not
tied down, so long hours are fine with me. Pay is a big
factor, Big 4 is a 10% pay jump, less than what I
imagined but think that will come when I get the senior
role. The Internal Audit is a signifigant pay increase,
about 20% salary with a 10% bonus on top.
Factors that I am filtering through:
1.) I see the Big 4 as the gold standard and really think
I need a shot at the big leagues, see If I can do well
and prove myself.
2.) Internal Audit might become VERY boring and lack the
mental stimulation at times, testing company processes,
etc.
3.) I feel going Big 4 will allow me many opportunities
for corporate down the road, but should I take this
Internal Audit gig I don't see as many if I want to leave
after 3 years...
4.) I feel like everyone says to leave the big 4 after 3
years and discuss how much they hate it....will I be 3
years behind should I go big 4?
My heart says Big 4 as I can see regretting not giving it
a shot, but the money says internal control....any tips?
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WSPcpa
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Joined: 29 Jun 2011
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Posts: 73
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| Posted: 21 Nov 2011 at 23:07 | IP Logged
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Big 4, you don't have to stay forever. If money is the
driver, think long term.
__________________
If it were easy, everyone would do it
It's the hard that makes it great
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Smart
Major Contributor
Joined: 03 Jul 2009
Location: United States
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Posts: 458
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| Posted: 23 Nov 2011 at 22:20 | IP Logged
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What part of the country are you in? How the hell do people get jobs like this?
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"He's a CPA, but he did stay at a Holiday Inn."
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db729
Major Contributor
Joined: 22 Apr 2010
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Posts: 256
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| Posted: 24 Nov 2011 at 03:12 | IP Logged
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Aside from the fact that you're only making a couple hundred more in IA compared to Big 4 at best, you're salary will catch up once you make senior at Big 4. Assuming you're not a dumbass and don't do anything really stupid, you'll get promoted after this busy season. At the senior level (at least in the Big 4 I was in), you're also eligible for year end bonuses. I don't know the exact bonus % because it changes year to year, but it'll be close to 10% if not more. Add onto the fact that you can jump into IA anytime you want, you're actually going to be making less if you were to switch into IA now. Thinking longer terms that a year or two. If you want to "maximize" your raises. Go Big 4 and take the 10% raise. Make senior after a few months and get another raise. Stay another year, jump to IA then, and get another raise. BAM! $$$! (I'm actually kind of serious about this...)
That being said, honestly a 10% or 20% raise isn't really that much. It's a couple hundred after taxes. While it's great to have some extra cash, it's not like you're going to make any major changes in lifestyle. I got a significant bump after leaving Big 4 but I'm living more or less the same. It's not like I suddenly went from an Accord to a M3 without any worries about money.
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Smart
Major Contributor
Joined: 03 Jul 2009
Location: United States
Online Status: Offline
Posts: 458
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| Posted: 24 Nov 2011 at 13:36 | IP Logged
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db729 wrote:
| ...Go Big 4 and take the 10% raise. Make senior after a few months and get another raise. Stay another year, jump to IA then, and get another raise. BAM! $$$! (I'm actually kind of serious about this...)... |
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And that, folks, is your picture-perfect accounting career in a nutshell. But by the end of the day, 98% of accountants out there will never get to do things like this in their lifetime. Go to any big company's accounting department and you will see rows upon rows of cubes with staff accountants making a terrible salary. They are at the bottom of the profession.
What they don't tell us in school is that most of the things you learn in class you will never actually get to do. Think about it. How many accountants will ever get to do bonds, pension accounting, consolidations, converting GAAP to IFRS, deferred taxes, derivatives, etc.
So when you're learning all that stuff in your intermediate accounting courses, just remember, the odds are you're going to wind up in a job with a terrible salary where the only supposed accounting knowledge you'll ever need at best is the matching principle.
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"He's a CPA, but he did stay at a Holiday Inn."
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