Big 4 industry vs FS Audit

Jimmy232

Hi,

I am having difficulty in choosing an area of auditing within the big 4. The general consensus seems to be that 3 years of working in FS audit tends to leave people pigeonholed in this area. I am also unsure as to whether I see my long term future in Dublin, where the FS industry is primarily based. However, I do enjoy certain aspects of financial services and feel I could like the area if given a chance. On the other hand, auditing industries such as communications or construction appear to be more transferable to a wider range of opportunities post big 4 and these areas are perceived as being more interesting than FS. As I am unsure yet exactly what kind of role interests me post qualification, would it be wiser to stay on the industry side? All replies greatly appreciated.

Jim2007

Jimmy232 wrote: »

Hi,

I am having difficulty in choosing an area of auditing within the big 4. The general consensus seems to be that 3 years of working in FS audit tends to leave people pigeonholed in this area. I am also unsure as to whether I see my long term future in Dublin, where the FS industry is primarily based. However, I do enjoy certain aspects of financial services and feel I could like the area if given a chance. On the other hand, auditing industries such as communications or construction appear to be more transferable to a wider range of opportunities post big 4 and these areas are perceived as being more interesting than FS. As I am unsure yet exactly what kind of role interests me post qualification, would it be wiser to stay on the industry side? All replies greatly appreciated.

It does not matter. Pick what ever one takes you fancy and go with it. Ten years after you qualify no one will care where you started out. It is about your abilities, your networking capabilities and the opportunities you encounter along the way. Of the 29 people who started out with me in a certain big 4, 30 years ago, none of us work in accounting today.

The CCAinsider

I would express just one note of concern, if you accept FS just be sure that you do not end up auditing funds. That is a fate worse than unemployment. Personally I went through big 4 auditing in a industry stream - I would recommend it as you get to see real products being made is real factories. In FS you see numbers and models and margins. I exaggerate a bit - but not a lot, I did audit one bank. Industry also makes you more international - a hotel chain in Ireland is the same as one in New York but a lot of the language and rules and regulations can be quite different in banking.

But the previous poster is right - 10 years down and you could be anywhere. But if you start in FS you are more likely to end up there. And while Dublin is a centre for FS, there are banks and FS jobs in lots of places in Ireland. But if you want long term to live in rural Ireland then I would recommend the Industry stream.

fishy_fishy

Depends on the firm. In some of them there's a completely different culture in the different areas. In one area people work hard but are recognised for it and all their overtime is allowed as TOIL, in the other there's a culture of work just as hard but don't even consider recording the overtime cos you're not getting the TOIL.

Do you know anyone in the firm who can advise?

For what it's worth, I've found a lot of the "don't work on X, you'll get no exposure to anything" stuff to be baseless. People usually say it about stuff they haven't worked on properly, so how would they know? Work wherever, work hard and work smart, be a team player and go the extra mile and you'll be rewarded with stuff that's far more interesting than the run of the mill bog standard stuff. If you pick a department where the culture is good, you'll get back out of it what you put in.

Plenty of ads on linkedin for both FS and industry newly qualified, and all on good money for big 4 graduates.

Tbh the only wrong answer is the one where you go to the department where everyone's miserable and nobody stays on after their contract.