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Reneging on Big-4 full time offer

Big 4 Reneging MSA MSF Full time offer consulting

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#1 CPArob

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Posted 18 June 2013 - 12:26 AM

I am a recent graduate of a MS in Accountancy program. While at the program, I interviewed with the Big-4 and recieved an full time offer I ended up accepting. While at the MSA program, I also applied to MS in Finance programs after I had accepted the offer from a Big 4. I wanted both degrees to make me marketable in the finance/consulting industry because I knew I didn't want to stay in public accounting for long. Later in the semester I accepted an offer for a MS in Finance program to start 3 months after the MS in Accounting program ended. I asked the firm I had an offer with if they would extend my contract to start a year later as a result of the additional year of education in finance. They obliged and pushed my start date back one year. 

 

Fast-forward to current time, I am rethinking my decision to start with a Big-4 firm (and accounting in general) as I believe consulting would give me a better start to what I would ultimately would like to do for a long term career. I am mulling over whether 1) I should apply for consulting jobs this fall while at the MS in finance program and whether the Big 4 firm could figure out I was doing so 2) if I were to interview with consulting firms, should I tell them upfront that I have already accepted an offer 3) if I were to get an offer from a consulting firm, would reneging on the Big 4 job make it back to the consulting firm that extended an offer?

 

Any comments would be appreciated.



#2 Virgil-redux

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Posted 21 June 2013 - 03:27 PM

First, what do you mean by "consulting"? Are you referring to pure management consulting/process improvement? Knowing that would help.

 

1.) Hmm, that's a risk you have to figure out for yourself. It would help if we know how good your MS Finance program is. If it's badass, I would go ahead and start interviewing. If the big 4 get butthurt, oh well. If your program is good, I would imagine getting a better job is a risk worth taking. Just know that it's still a risk, so weigh your appetite for that risk. If your program isn't all that heavily recruited you might have to really think about it and be as discrete as you can.

 

2.) No. For one there's no point and it doesn't accomplish anything besides putting your business out there. Also, it might actually hurt you if the firm thinks you have a mercenary attitude (which is a bit ridiculous in IMO, but it is what it is). Second, they expect you to be interviewing and considering offers from other firms. Just like the ol, "She has a boyfriend already? That don't mean nothing", these firms wouldn't mind getting good talent even if they come from other firms.

 

3.) Maybe, but I don't think it'll make much difference. A bit unrelated, but I knew a guy who took an offer with EY, then turned around and took an offer with Deloitte. EY might have been disappointed, but the guy is generally liked in the public accounting world from I can tell. Like the Mafia say, "It's just business"/. Just don't be a douche about it and you'll be fine.

 

Look, seeing that you're in an MS Finance program, unless it's really shitty, going into public would be a waste of your education and time spent in the program. At this point I expect the firm is probably thinking the same. I mean MS Finance AND MS accounting to go to audit? Yeah okay.

 

That being said, let's be honest and say that the reaction you'll get if you renege on your offer can range from understanding to annoyance. 



#3 Oblivion.Night

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Posted 03 July 2013 - 12:31 AM

There are a fair amount of people who move from audit to consulting in big 4



#4 Virgil-redux

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Posted 03 July 2013 - 10:52 PM

There are a fair amount of people who move from audit to consulting in big 4


That's true, but that's a bit besides the point. I mean, if you got into a good MS Finance program , WITH an MS in Accounting, would you go public?

#5 Oblivion.Night

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Posted 04 July 2013 - 05:14 AM

 

There are a fair amount of people who move from audit to consulting in big 4


That's true, but that's a bit besides the point. I mean, if you got into a good MS Finance program , WITH an MS in Accounting, would you go public?

 

 

It depends... The OP did not mention it was a good program per se.

 

As a big 4 consultant I thought I'd point out that consulting at big 4 is a great place to be and a lot of accountants do move to consulting.

 

It is hard to give a good answer without knowing what kind of consulting you're interested in. In fact having a finance degree might not even be that helpful for many consulting roles..



#6 Virgil-redux

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Posted 05 July 2013 - 03:58 PM

"In fact having a finance degree might not even be that helpful for many consulting roles"

That's a good point. It dependswhat kind of "consulting" the OP is looking for though. If you're looking at traditional Management Consulting/Process Improvement, I've heard and read an MBA is more useful.

However, if you're pooling anything related to Advisory as "Consulting", then that can vary as well. I guess it depends what the OP is looking for.





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