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Just because some engineering NUS valedictorian go into big 4 it means they are better than MBB or BB FO in terms of pay & prestige? Why don't you go ask some proper headhunter in the market and see if a consulting associate from PWC and Mackenzie is the same see if anyone believe? |
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Let's not even talk about the pathetic pay for most people who never manage to make partner. After working 6 years at a Big 4, you can still qualify for a BTO flat with your partner, assuming both of you work in a Big 4. |
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The fact that some FCH from local unis enter Big 4 is a well know fact, but it doesn't change the vast difference in starting pay levels and social standing between real management consultancies / investment banking and Big 4. I have nothing against Big 4 and think it's a good stepping stone for people who like accounting or auditing and most with Big 4 experience do quite ok as far as a PME career is concerned, but to somehow imply that it is on par with high finance like MBB, IB, PB etc. is just ludicrous. |
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Use Big 4 as a stepping stone and you will go far. Don't fall into the "become a partner" trap that Big 4 tries to sell you. In reality, even a A performer may not become partner due to various reasons, such as no partner slots open. Of course if you are lucky and joined at a time when a partner will be retiring just as you approach partner level, you may jolly well find yourself getting the partnership. |
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they do mostly due diligence - the bankers and consultants do the real work. |
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Big 4 transactions advisory is financial due diligence, true. basically accountants doing book-keeping and valuation for M&A etc., and making sure nothing screws up numbers-wise before the deal is closed. Far less glamorous than what its name implies. The real "transactions advisory" are done by the suits in Lazard or Goldman Sachs. In America, I think Big 4 also offers a lower tier of strategy/management consulting services. Certainly they can't compete in prestige with MBBs and powerhouse boutique consulting shops. But they've been making inroads into consulting by buying up some boutique firms wholesale, e.g. PwC buying Booz & Co. In singapore, for obvious reasons such as market size and undeveloped corporate culture, true strategy/management consulting offering by the Big 4 is non-existent? someone correct me if i'm wrong. so overall globally, for big 4, there are vast differences in prestige/offerings that vary from country to country. they will always be seen as the not top tier, but fairly decent PMET position to land. i think this public perception is true in most mature economies. globally, the Big 4 are trying to raise their prestige level though, by buying up consulting firms as mentioned above, and even muscling into legal services |
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Companies are very clever nowadays. So they hype up on soft things like that so that they can get away with paying these people lousy wages. That is how Big 4 has been able to get away with paying their auditors and associates peanuts and milk them like a cow for long hours. |
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