Working in Big 4 Accounting Firm (1 Viewer)

[ChiK]

hey guys,

I have some questions relating to a career in a Big 4 Accounting firm such as PwC, EY, KPMG, Deloitte.

I would like to know what it's like working in such accounting firms e.g.

- typical graduate starting salary
- opportunities to travel and advance further
- general atmosphere (friendly, competitive?)

ALSO, as a marketing student, can you work in accounting without an accounting degree? e.g. perhaps do the CA program?

Has anyone here done an internship with any of the Big 4, or is anyone already working at a Big 4 firm?

Could you please share some insider information?

 

[Grizzly]

1. 42-46k p.a including superannuation
2. Always there once your qualified (CA)
3. Deloitte has the "friendliest", PWC the snobbiest, KPMG in the middle.
4. You won't be considered in the Audit / Biz Advisory / Tax divisions unless your prepared to do your CA, i.e. major in accounting.

ps. Im employed by a large mid-tier.

 

[turtleface]

- typical graduate starting salary

- opportunities to travel and advance further
- general atmosphere (friendly, competitive?)

as above, I'll add that areas like Tax and Corp Finance gets a slightly higher grad salary than audit.

Travel is usually interstate as part of your daily job. In terms of your day to day work, overseas is very rare as part of your day to day work but many people get to go on secondments (i.e. 6 month - 3 year) to an overseas office (most often to London or a US office) after they've worked 2 years or so with the firm.

As for general atmosphere, because about 80% or so of staff are like in their 20's so its generally like a Uni atmosphere, but I think as you get older and into the more senior levels, it gets more political (but thats my guess).

As for advancing further, as long as you meet their basic requirements (like getting work in on time etc) you will be promoted every year (every 6 months if you are good) up until the position before Partner. The biggest hurdle is Senior Manager/Director/Principal to Partner. Needless to say most people don't ever get that promotion.

ALSO, as a marketing student, can you work in accounting without an accounting degree? e.g. perhaps do the CA program?

Do you mean work in an accounting firm or in an accounting division like audit? If you mean an accounting firm then of course you can (just like you don't have to be a miner to work for BHP). If you mean in an accounting division, yes you can but its harder for you at the Big 4 because they don't like it if you are ineligible for CA. Nowadays CA you don't HAVE to do an accounting major, but you basically have to know everything taught in an accounting major and pass their diagnostic test, otherwise you have to do a Masters degree conversion course which will take 2 years. Without CA you will not advance beyond Assistant Manager, and will not be able to be registered as a Company Auditor, or a Liquidator/Receiver etc.

Has anyone here done an internship with any of the Big 4, or is anyone already working at a Big 4 firm?

like about 5000 people lol

 

[turtleface]

I think theres not many opportunites, and even so many places only offer you a 2 year contract and will kick you out unless you are very very profitable. Dunno about australia but in the US, I heard about 80% or so of junior staff are fired by the end of their 2nd year.

 

[velox]

Didn't want to start a new thread, but what are the prospects like for graduates who want to get into investment banking?

What do you mean by that? Do you mean working in the IBD, or working for a IB? People tend to get them confused, but either way its competitive.

Generally you have 1 yr of being a grad, then you have a 3.5 year analyst stint, then do an MBA or PhD then go be an assosciate.

 

[sunjet]

The top 4 employ more than people with accounting degrees btw.

 

[seremify007]

1. The salary is continuously changing but there are a few surveys/statistics floating around the net (and linked to on BoS). The amount offered on the contract could even change before you commence day 1 of work. Although the figure above is realistic, there are a few grads who do get offered more than that after negotiations.

2. Once you have your CA, most firms will fight to keep you from changing to the much better paid private sector; and one thing they like to use is 'overseas secondments'. I have a family member who's on secondment to UK with Big4 if you have any questions.

3. In my experience at two Big4 firms, the people were always very friendly and helpful. Based on what I've seen and heard, all the Big4 are great to work at and each has their own advantages/perks over the others; but really, which one you go for comes down to personal preference/which one makes you feel comfortable. For example, I've always seen KPMG to be a much sportier firm than the others. Also, the different firms (both Big4 and non-Big4) can sometimes have more specialist divisions than others both within Assurance (eg. One firm may have the best Financial Services clients; whilst another might have more Growth clients from the Middle Market) and outside Assurance (eg. Tax, Transaction Services/M&A, etc..)

4. You may need to do a bridging course of some sort to be eligible for CA; but in general, Big4 do employ non-Accounting students (just not so many of them). It also depends what kind of job you want to have; but based on your post, it seems as if you want to work in Accounting? From the top of my head I can think of someone who did Engineering and someone who did Journalism who both ended up in Assurance.

As for people who actually work in Big4 on BoS; there's quite a few of them (including moderators) who hang out more on the other parts of the site. Check out the Commerce-Business board if you're interested- http://community.boredofstudies.org/462/commerce-business

Finally I'd like to add; Big4 isn't everything.

 

[Meads]

1. 42-46k p.a including superannuation
2. Always there once your qualified (CA)
3. Deloitte has the "friendliest", PWC the snobbiest, KPMG in the middle.
4. You won't be considered in the Audit / Biz Advisory / Tax divisions unless your prepared to do your CA, i.e. major in accounting.

ps. Im employed by a large mid-tier.

This years grads are looking at 51-55k p.a at a big 4.

 

[Gray Shadow]

umm... how likely do they take first yr uni students??

 

[UWS-Uni-Student]

umm... how likely do they take first yr uni students??

For what purposes?

 

[UWS-Uni-Student]

Has anyone recognised any perceptions of certain firms towards certain universities?

 

[lilkiwicutie89]

Has anyone recognised any perceptions of certain firms towards certain universities?

yeah.. they discrimate us UWS dont they?

 

[UWS-Uni-Student]

yeah.. they discrimate us UWS dont they?

Well I haven't noticed such, and officially they cannot do so, but I was wondering if those whom work inside the Big 4 noticed if there is a apparent preference.

 

[velox]

There are less students from UWS. But probably because they tend to go for smaller less competitive firms. Doesnt mean they discriminate.

 

[UWS-Uni-Student]

There are less students from UWS. But probably because they tend to go for smaller less competitive firms. Doesnt mean they discriminate.

Good to hear

 

[lilkiwicutie89]

Good to hear

theres this guy in my accounting classs who has a cadet for HLB accountant...

yeah i go to uws too....

whioch campus do u go to?

 

[ToO LaZy ^*]

This years grads are looking at 51-55k p.a at a big 4.

how certain are you of this?...

 

[noftus]

Has anyone recognised any perceptions of certain firms towards certain universities?

* deloitte ERS = UNSW
(so if you're sydney/UTS you have a better? chance, as they want to diversify)

* pwc = white (and the school captain type). or asian (and the white type).

* ey = asian (or white, and the asian type)

* kpmg = they're just strange

 

[Meads]

how certain are you of this?...

100%

Why? You believe something different?

 

[ToO LaZy ^*]

* deloitte ERS = UNSW
(so if you're sydney/UTS you have a better? chance, as they want to diversify)

* pwc = white (and the school captain type). or asian (and the white type).

* ey = asian (or white, and the asian type)

* kpmg = they're just strange

lol. thats very accurate actually

meads:
nah, i wouldnt know... but an offer i got from a big4 stated "no less than 46"
so itll jump to the 50s by the time we start ay?...i really hope youre right