Big 4 vs. Internal Audit

Viewing 19 posts - 1 through 19 (of 19 total)
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  • #181809
    motogoloto
    Member

    Hi Everybody,

    I am new to this forum and can use some advice. I just finished my Masters and passed the CPA. I currently have two job offers. One offer is big 4 external audit and the other is an Internal Audit job with a Fortune 50 firm. The Internal Audit job is paying 10k more. What will you all advise?

    #490669
    UNC MAcc
    Member

    IA has better pay and better work / life balance. Big 4 will look better on your resume in the future.

    Enjoy working at Bank of America.

    #490694
    UNC MAcc
    Member

    IA has better pay and better work / life balance. Big 4 will look better on your resume in the future.

    Enjoy working at Bank of America.

    #490671
    motogoloto
    Member

    Which one would you do? Will the 10K lower salary at the big 4 be worth it in the long run?

    #490696
    motogoloto
    Member

    Which one would you do? Will the 10K lower salary at the big 4 be worth it in the long run?

    #490673
    UNC MAcc
    Member

    I took the money. I don't regret it. The only time I would have taken Big 4 was if I was debt free and under 25.

    #490698
    UNC MAcc
    Member

    I took the money. I don't regret it. The only time I would have taken Big 4 was if I was debt free and under 25.

    #490675
    jlough
    Member

    Depends on what your interests are– I've done both public accounting and internal audit. I would say that if you ultimately want a corporate accounting position, go with the B4 job. You will learn more about overall accounting than you will with the IA job. I'm in corporate accounting now and I feel like my B4 experience has helped me much more than my IA experience did.

    #490701
    jlough
    Member

    Depends on what your interests are– I've done both public accounting and internal audit. I would say that if you ultimately want a corporate accounting position, go with the B4 job. You will learn more about overall accounting than you will with the IA job. I'm in corporate accounting now and I feel like my B4 experience has helped me much more than my IA experience did.

    #490677
    Anonymous
    Inactive

    Is about what you prefer.

    In my own opinion, I like controls so IA fits me well. After CPA I plan to do the CIA and land a job with really good salary and life balance.

    I have worked for public practice long time (Big 4 and small firms) and yes, you really learn a lot but not so much social life.. so all is about what you love to do!

    #490703
    Anonymous
    Inactive

    Is about what you prefer.

    In my own opinion, I like controls so IA fits me well. After CPA I plan to do the CIA and land a job with really good salary and life balance.

    I have worked for public practice long time (Big 4 and small firms) and yes, you really learn a lot but not so much social life.. so all is about what you love to do!

    #490679
    Anonymous
    Inactive

    if your ultimate plan is industry, IA!

    #490705
    Anonymous
    Inactive

    if your ultimate plan is industry, IA!

    #490681
    Mayo
    Participant

    Depends on the IA shop.

    I would say go with B4 first, and then transition to IA afterwards.

    Pros are:

    -You can pick and choose which industry you want to jump to once you get 2-3 years in B4. At the moment you only have that one IA job..

    -You'll get better on the job training at the B4.

    -You'll get others exit opportunities to consider than just IA.

    -Your resume will always benefit more with a B4 name on it.

    -Better overall network at B4;

    Of course, work/life balance matters, and I wouldn't assume to have any after your first year at the B4. It's just the way it is.

    #490707
    Mayo
    Participant

    Depends on the IA shop.

    I would say go with B4 first, and then transition to IA afterwards.

    Pros are:

    -You can pick and choose which industry you want to jump to once you get 2-3 years in B4. At the moment you only have that one IA job..

    -You'll get better on the job training at the B4.

    -You'll get others exit opportunities to consider than just IA.

    -Your resume will always benefit more with a B4 name on it.

    -Better overall network at B4;

    Of course, work/life balance matters, and I wouldn't assume to have any after your first year at the B4. It's just the way it is.

    #490683
    motogoloto
    Member

    Thanks for all your responses guys! I got some more time to make my decision and wanted to get some advice on one more thing. If i go with the B4, how much can I expect to make in IA or corporate accounting if I do 3 years at the B4? I'm wondering if I will make up the 10k loss between IA and B4, after a few years. Also what are the average raises like at the B4?

    #490709
    motogoloto
    Member

    Thanks for all your responses guys! I got some more time to make my decision and wanted to get some advice on one more thing. If i go with the B4, how much can I expect to make in IA or corporate accounting if I do 3 years at the B4? I'm wondering if I will make up the 10k loss between IA and B4, after a few years. Also what are the average raises like at the B4?

    #490685
    Mayo
    Participant

    It just depends on the shop. Check out these descriptions from Robert Half:

    “To be considered for these Auditor roles, candidates will require a Bachelor's degree in accounting, as well as CPA and/or CIA designation. Positions start at 2 or more years of experience and salary will range from $50-$90K depending on the level of experience. Superior organizational and communication skills are a must, as well as competency in Microsoft Office products and efficient in email and Internet.”

    CPA with Big 4 experience can get you close to that 90k number if your timing is right. Even better if you have experience in the same industry for roughly the same size company.

    “Description:

    Our client near O'Hare has an outstanding opportunity for a Senior Auditor. Responsibilities will include financial and operational audits as well as compliance projects including SOX 404. Role can be promoted to several opportunities within the company. Company offers excellent benefits.

    Requirements:

    Requirements include a Bachelors degree in Accounting and 3+ years of public or corporate audit experience. FOR IMMEDIATE CONSIDERATION” blah blah blah

    This was $65 to $85k

    “Description:

    Global business consulting and internal audit firm is seeking an Audit Senior. As an Audit Senior, your primary responsibilities will included direct supervision of Consultants in executing internal audit project work plans. The Audit Senior will be responsible for ensuring the timely completion of assigned project phases as well as developing and maintaining client relationships.

    Requirements:

    The Audit Senior requires 2+ years of relevant work experience. CPA, CIA or other certification is strongly preferred.”

    This one was $69,500 to $85,000.

    None of these call out Big 4 specifically, but it's for dang sure most of the recruiters would put your resume at the top of the list if it had a Big 4 name attached.

    #490711
    Mayo
    Participant

    It just depends on the shop. Check out these descriptions from Robert Half:

    “To be considered for these Auditor roles, candidates will require a Bachelor's degree in accounting, as well as CPA and/or CIA designation. Positions start at 2 or more years of experience and salary will range from $50-$90K depending on the level of experience. Superior organizational and communication skills are a must, as well as competency in Microsoft Office products and efficient in email and Internet.”

    CPA with Big 4 experience can get you close to that 90k number if your timing is right. Even better if you have experience in the same industry for roughly the same size company.

    “Description:

    Our client near O'Hare has an outstanding opportunity for a Senior Auditor. Responsibilities will include financial and operational audits as well as compliance projects including SOX 404. Role can be promoted to several opportunities within the company. Company offers excellent benefits.

    Requirements:

    Requirements include a Bachelors degree in Accounting and 3+ years of public or corporate audit experience. FOR IMMEDIATE CONSIDERATION” blah blah blah

    This was $65 to $85k

    “Description:

    Global business consulting and internal audit firm is seeking an Audit Senior. As an Audit Senior, your primary responsibilities will included direct supervision of Consultants in executing internal audit project work plans. The Audit Senior will be responsible for ensuring the timely completion of assigned project phases as well as developing and maintaining client relationships.

    Requirements:

    The Audit Senior requires 2+ years of relevant work experience. CPA, CIA or other certification is strongly preferred.”

    This one was $69,500 to $85,000.

    None of these call out Big 4 specifically, but it's for dang sure most of the recruiters would put your resume at the top of the list if it had a Big 4 name attached.

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