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Former Big 4 Auditors - When did you leave, what position did you go to, how much did you make?

  • Last Updated:
  • Nov 15th, 2017 7:42 pm
[OP]
Member
Jun 22, 2009
249 posts
114 upvotes
Toronto

Former Big 4 Auditors - When did you leave, what position did you go to, how much did you make?

Just trying to collect some information - I'm looking to make my move so just trying to see what's out there.

Please answer the following:
  1. When did you leave? (As a senior 1, 1st year manager, etc)
  2. What position and company did you leave to?
  3. How much did you make in the new position?
  4. How many hours a week were you working?

Lastly, if you could go back would you have done anything differently? (stayed longer, left earlier, etc.)
31 replies
Jr. Member
Aug 5, 2017
101 posts
20 upvotes
Good initiative, interested as well :)
Deal Addict
Apr 21, 2014
1118 posts
285 upvotes
Alberta
i left at senior 2. Think i was making 65k at the time, don’t remember. Left for a financial reporting analyst in September of that year and was making 83k in dthe December got bumped to 85.5. If i did it over I would have left at senior 1 or wait until manager. Didn’t really get credit for that extra year as a senior. But was getting married so delayed my job search until after that.
Jr. Member
Feb 19, 2017
124 posts
63 upvotes
abc123yyz wrote:
Nov 13th, 2017 11:44 pm
i left at senior 2. Think i was making 65k at the time, don’t remember. Left for a financial reporting analyst in September of that year and was making 83k in dthe December got bumped to 85.5. If i did it over I would have left at senior 1 or wait until manager. Didn’t really get credit for that extra year as a senior. But was getting married so delayed my job search until after that.
+1

Don't wait until senior 2 to leave. You will get no credit for it.

I left right before I made senior. Started at 75K, got to 85K within a year (pure finance gig), which is where most seniors in my city got when they left so I basically skipped out on a year of senior work while getting paid more and ending up no worse off a year later.

To be honest though, if you can, sticking around until senior manager is worth it. You can go straight to a senior manager role at a large company or a director role at a small company. Progressing to that position in industry is a lot harder.
Deal Fanatic
User avatar
Mar 31, 2008
9555 posts
1238 upvotes
Toronto
I've always wondered, do accountants actually enjoy the work? Or just a job that optimally meets their needs?
Jr. Member
Aug 5, 2017
101 posts
20 upvotes
Walch1102 wrote:
Nov 14th, 2017 12:21 am
+1

Don't wait until senior 2 to leave. You will get no credit for it.

I left right before I made senior. Started at 75K, got to 85K within a year (pure finance gig), which is where most seniors in my city got when they left so I basically skipped out on a year of senior work while getting paid more and ending up no worse off a year later.

To be honest though, if you can, sticking around until senior manager is worth it. You can go straight to a senior manager role at a large company or a director role at a small company. Progressing to that position in industry is a lot harder.
75k with only two years under your belt ? Pretty good
Deal Addict
Nov 22, 2009
1932 posts
306 upvotes
Toronto
at1212b wrote:
Nov 14th, 2017 1:18 am
I've always wondered, do accountants actually enjoy the work? Or just a job that optimally meets their needs?
Who actually enjoys their work? Unless you're talking about people making money off of playing video games on twitch, I don't think there are many jobs that people like. I have friends from various industries and not a single one loves going to work.
Jr. Member
Aug 5, 2017
101 posts
20 upvotes
blitzforce wrote:
Nov 14th, 2017 9:55 am
Who actually enjoys their work? Unless you're talking about people making money off of playing video games on twitch, I don't think there are many jobs that people like. I have friends from various industries and not a single one loves going to work.
This.
I always cringe when people who work in consulting/IB tell me how they have a passion for their work. :rolleyes:
But that's not the topic, let's not hijackNeutral Face
Deal Addict
Nov 22, 2009
1932 posts
306 upvotes
Toronto
dante01 wrote:
Nov 14th, 2017 10:11 am
This.
I always cringe when people who work in consulting/IB tell me how they have a passion for their work. :rolleyes:
But that's not the topic, let's not hijackNeutral Face
They like the work because of the compensation. They don't truly "love" their work.
[OP]
Member
Jun 22, 2009
249 posts
114 upvotes
Toronto
Walch1102 wrote:
Nov 14th, 2017 12:21 am
+1

Don't wait until senior 2 to leave. You will get no credit for it.

I left right before I made senior. Started at 75K, got to 85K within a year (pure finance gig), which is where most seniors in my city got when they left so I basically skipped out on a year of senior work while getting paid more and ending up no worse off a year later.

To be honest though, if you can, sticking around until senior manager is worth it. You can go straight to a senior manager role at a large company or a director role at a small company. Progressing to that position in industry is a lot harder.
Good stuff! 75k with two years of experience is pretty good. What kind of a finance role were you in and how were your hours?
Deal Addict
Apr 21, 2014
1118 posts
285 upvotes
Alberta
at1212b wrote:
Nov 14th, 2017 1:18 am
I've always wondered, do accountants actually enjoy the work? Or just a job that optimally meets their needs?
Bit of both really. When you are first starting out working at a large firm is great you get to see how many industries work. Things the average joe may not see see. Such as how cars are put together, how Colgate makes their toothpastes, injection molding processes etc. After a while it’s not that exciting.

To get back on topic staying until senior manager makes sense because you’d get exposure to capital markets, and clients would come to you for ipo’s and/or capital funding etc. You can then leverage that into a high level position in industry. It’s not easy getting that exposure until you are at a high level in industry and sometimes they want people in that position to already have that type of experience.
Jr. Member
Feb 19, 2017
124 posts
63 upvotes
abc123yyz wrote:
Nov 14th, 2017 1:09 pm
Bit of both really. When you are first starting out working at a large firm is great you get to see how many industries work. Things the average joe may not see see. Such as how cars are put together, how Colgate makes their toothpastes, injection molding processes etc. After a while it’s not that exciting.

To get back on topic staying until senior manager makes sense because you’d get exposure to capital markets, and clients would come to you for ipo’s and/or capital funding etc. You can then leverage that into a high level position in industry. It’s not easy getting that exposure until you are at a high level in industry and sometimes they want people in that position to already have that type of experience.
I've never heard of a client going to an audit senior manager for ipo/capital funding. Firms have a corporate finance arm for that. Maybe you're talking about due diligence work, which is less sexy with much lower fees.
Jr. Member
Feb 19, 2017
124 posts
63 upvotes
Desii wrote:
Nov 14th, 2017 11:09 am
Good stuff! 75k with two years of experience is pretty good. What kind of a finance role were you in and how were your hours?
Operational risk. 8:30-5:30.
I really didn't work that much. 75K with a 15% bonus was decent, but not really better than people who leave after 3 years and get ~ 85-90K +15-20% bonus.
Jr. Member
Aug 5, 2017
101 posts
20 upvotes
Walch1102 wrote:
Nov 14th, 2017 6:34 pm
Operational risk. 8:30-5:30.
I really didn't work that much. 75K with a 15% bonus was decent, but not really better than people who leave after 3 years and get ~ 85-90K +15-20% bonus.
Where do people leave to get 85k + 15% bonus after 3 years ? Is there room for growth at that point or you get a massive raise and then nothing for years ?
Wonder if the same applies to someone in IT audit who leaves after 3 years
Deal Addict
Apr 21, 2014
1118 posts
285 upvotes
Alberta
Walch1102 wrote:
Nov 14th, 2017 6:31 pm
I've never heard of a client going to an audit senior manager for ipo/capital funding. Firms have a corporate finance arm for that. Maybe you're talking about due diligence work, which is less sexy with much lower fees.
When you work in the firm, you can work on different things and in different departments as well. Not just audit. You can do some work in Transaction Services, or other areas in Advisory.

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