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Showing posts from December, 2011

which auditing group should you join?

Is there any particular industry you recommend for an associate to being with? 

I wouldn't recommend any one industry, it all depends on your interest. The core sectors are - Technology/Software, Manufacturing, Hedge Funds and Mutual Funds, Insurance, Banks, Retail, Government, Real Estate, Entertainment, Biotechnology, Energy, Alternative Energy and Non-Profits. I'm sure there's more. I started breaking down why you'd want to join each industry, but then realized it all came down to one more thing - your interest in that particular industry. If you see yourself in that industry long-term (after your stint in auditing), choose that industry. Simple as that. One thing you'd want to take into consideration is specialization. For example, if you go into the financial service industry, it will be hard to transition to manufacturing, retail and technology. Consider the similarities between the industries if you don't know what you want to do and want to keep your opt…

big 4 jobs vs other jobs

How often do big 4 auditors compare how their situations are with others working in Fortune 500s, Investment Banking, Consulting, etc jobs?

Sadly, a good amount. Let's break it down - 

Fortune 500 - I'm going to group in all public companies here. This is what most employees compare their jobs to. When you audit these companies, you get to say their payroll reports, and so you know exactly how much each individual makes. You get mad when you see people who are not as competent but make a ton more than you. Then while you're slaving away through 8-9 pm, you see these guys jet faster than Usain Bolt at 5:30 pm, so they can enjoy life, and work to live rather than live to work. 

Ibanking: You know it's a miserable job but you get riled up when you see how much they make, be it 5x, 10x or 20x the amount you make. It hits you when you audit banking fees on certain transactions, and you look at the amount of money they make for each transaction. You barely ever see them outside…