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Fresh Grad Advice: Local Big 4 Strategy vs Hong Kong Transaction Banking

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Old 11-04-2020, 12:23 PM
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Post Fresh Grad Advice: Local Big 4 Strategy vs Hong Kong Transaction Banking

Hi there, I currently have 2 offers on hand:

1) Local Big 4 Strategy Consulting Role
2) Hong Kong based Transaction Banking Management Rotational Program

Compensation wise - The banking program definitely pays more but net of my expected rent it is about the same as the big 4 strategy consulting role.

I have done a consulting internship at a top tier firm before and I did not really enjoy it the most (long working hours, grinding excel etc.) but i recognize that exit opportunities are abundant, just not sure if the same exit opportunities applies the same from a Big 4 perspective.

Wanted to get anyone's thoughts about how would they choose between these 2 opportunities?

Thank you!

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Old 11-04-2020, 02:40 PM
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Originally Posted by trutem View Post
Hi there, I currently have 2 offers on hand:

1) Local Big 4 Strategy Consulting Role
2) Hong Kong based Transaction Banking Management Rotational Program

Compensation wise - The banking program definitely pays more but net of my expected rent it is about the same as the big 4 strategy consulting role.

I have done a consulting internship at a top tier firm before and I did not really enjoy it the most (long working hours, grinding excel etc.) but i recognize that exit opportunities are abundant, just not sure if the same exit opportunities applies the same from a Big 4 perspective.

Wanted to get anyone's thoughts about how would they choose between these 2 opportunities?

Thank you!
Big 4 strat consulting is, sorry to be blunt, not even close to top tier. They are overpacked, pay too little, and are also keeling from the covid situation. I would suggest the bank.

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Old 11-04-2020, 07:35 PM
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Big 4 strat consulting is, sorry to be blunt, not even close to top tier. They are overpacked, pay too little, and are also keeling from the covid situation. I would suggest the bank.
transaction banking got future?

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Old 11-04-2020, 08:47 PM
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Maybe, but I would bet on a management training program more than big 4 strat consulting
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Old 12-04-2020, 01:16 AM
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Just to be sure, itís consulting as in EY-Parthenon / Pw -Strategy& right?

NOT their advisory arm, correct?

Because if itís the latter, you are better off elsewhere.
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Old 12-04-2020, 02:48 AM
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Just to be sure, itís consulting as in EY-Parthenon / Pw -Strategy& right?

NOT their advisory arm, correct?

Because if itís the latter, you are better off elsewhere.
If its Strategy&, EY-Parthenon etc, yes go for them.

If it's just Big 4, no.
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Old 12-04-2020, 03:42 AM
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Consultants at Strategy& and Parthenon donít follow your usual Big 4 pay grades (A1, A2, S1...etc) like their Advisory counterparts btw.

What type of exit opps youíre looking for? If itís to land a job at MBB then yes, Strategy& and Parthenon is gonna boost your chances compared to transaction banking.

If youíre comparing traditional Big 4 advisory and transactional banking, neither will get you close to MBB unless you decide to do your postgrad at a target MBA program and join their graduate associate schemes.
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Old 12-04-2020, 10:50 AM
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Originally Posted by trutem View Post
Hi there, I currently have 2 offers on hand:

1) Local Big 4 Strategy Consulting Role
2) Hong Kong based Transaction Banking Management Rotational Program

Compensation wise - The banking program definitely pays more but net of my expected rent it is about the same as the big 4 strategy consulting role.

I have done a consulting internship at a top tier firm before and I did not really enjoy it the most (long working hours, grinding excel etc.) but i recognize that exit opportunities are abundant, just not sure if the same exit opportunities applies the same from a Big 4 perspective.

Wanted to get anyone's thoughts about how would they choose between these 2 opportunities?

Thank you!
avoid big 4 at all cost. it's a trap. i was from KPMG corporate finance. it's nothing more than glorified audit. starting pay is barely higher (3.9k in 2016) and you basically do all the audit work. no financial projections, no consulting experience, nothing. pure accounting and reconciliation. stayed there for 2.5 years before I jumped to a local bank.

if you start at big 4, it's damn hard to exit to consulting or IB roles. if that's where your end goal is, then don't join big 4. start directly with the bank.
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Old 12-04-2020, 10:53 AM
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Quote:
Originally Posted by trutem View Post
Hi there, I currently have 2 offers on hand:

1) Local Big 4 Strategy Consulting Role
2) Hong Kong based Transaction Banking Management Rotational Program

Compensation wise - The banking program definitely pays more but net of my expected rent it is about the same as the big 4 strategy consulting role.

I have done a consulting internship at a top tier firm before and I did not really enjoy it the most (long working hours, grinding excel etc.) but i recognize that exit opportunities are abundant, just not sure if the same exit opportunities applies the same from a Big 4 perspective.

Wanted to get anyone's thoughts about how would they choose between these 2 opportunities?

Thank you!

Transaction Banking.. sounds like Deutsche Bank?
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Old 13-04-2020, 04:49 PM
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Consultants at Strategy& and Parthenon donít follow your usual Big 4 pay grades (A1, A2, S1...etc) like their Advisory counterparts btw.

What type of exit opps youíre looking for? If itís to land a job at MBB then yes, Strategy& and Parthenon is gonna boost your chances compared to transaction banking.

If youíre comparing traditional Big 4 advisory and transactional banking, neither will get you close to MBB unless you decide to do your postgrad at a target MBA program and join their graduate associate schemes.
Yup the offer is from Parthenon. Not sure if they are following the same scale as the usual big 4 pay grade as the starting pay is ~3.8k which seems pretty low, perhaps the post integration resulted in lower payscale.
Do you know the pay progression within Parthenon?

I guess I am looking at exit opportunities within corporate strategy/business development etc. Not really MBB as I don't think I can take the consulting life for long.
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