Internal Audit career in private or public accounting?

Question

I am pressed between 2 different job offers, both in the field of internal audit. I have 1 year of public experience at a small firm, so still early in my career. One offer is for internal audit with manufacturing company (somewhat small, but public company), with the potential to head the department (1 staff and 1 director) in about 3 years. Everything seems great about the company. The other is with a big 4 doing internal audit as well. I am leaning towards the big 4 position b/c I think the experience I will gain after several years will be extremely marketable. But at the same time, the other position is a very fast track to management, excellent work-life balance, etc.....Experienced Professionals, please offer me some advice!

Answer 1

I have been both an internal auditor (and still am going on 10 years now) and worked in public accounting (3 years).

You should probably take the job with the big four firm. I say this because the bredth of experience that will get form that job will be invaluable in your future career. You will see many different ways that companies handle internal controls as well as get a good foundation in the "red book". You will also make contacts and a network of friends that could spread across the world and all different industries. To me the big downside of the big four job would be the travel (probably be 80%+ unless you get on a very long term engagement) and the perception/feeling that you are a "hired gun" and not really part of the entity that you are working at.

While the job with the manufacturing firm may be a fast track to management you will, in the long run, be limiting your potential. The up side to this job is the stability (as much as anyone has outside government work) you know where you will be working with a fiar amount of certainty, and the lack of travel.

In the end, if i was you, I would look at how I handle: pressure, travel, change, and risk (the big 4 job is riskier b/c if they lose the contract you are assigned to you may lose your job). Some people thrive on those things and if you are one of them....then go for the big 4 job.


One last thought you will probably grow more professionally in the big 4 job than the other simply because of the greater variety of work, more and better managers to learn from, and competition among staff auditors to get ahead (which pushes you to do better).

Good luck

Answer 2

I spent five years in public and never regret any of it to this day. I left for work life balance but had absolutely no problem finding a place to work that still suits me today, four years later. I have an office, a staff, work with the key senior team, and make a decent wage. I'm not paid like a partner, but that's ok, my wife's a doctor - I don't have to work that hard.

Public accounting is boot camp for the business world.

Answer 3

I think initially for 5 years you should work in big4.there may not be spectacular rise.But you get good exposures anda lot of experience that helps to build the confidence.After 5 years you get plenty of oppurunities to join a top post in a medium sized co.You will never regret for letting go the present opprtunity.