Big 4? How? Why? When? Forum

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Re: Big 4? How? Why? When?

Post by Anonymous User » Tue Oct 06, 2015 10:38 pm

I think everything has been pretty much covered...but just my two cents from someone in International Tax :D

1. I'm a recent grad in ITS in a non NYC making 70K. It's probably comparable to the 75-100K mentioned here for NYC in terms of living costs/taxes. It's certainly not biglaw $$$, it pays the bills and leaves some $.

2. Work is actually surprisingly interesting. It's not considered a "legal job" per se, but you're always dealing with the tax code and international treaties (at least in ITS)(side note: I'm actually surprised on how accounting firms are able to get their tax consulting services considered non-legal services when they're actually quite...legal) We're constantly on the call with international member firms trying to figure out the foreign/US tax consequences of a series of transactions spanning multiple countries. Work hours have been great so far. I rarely had to stay past 7pm but there has been some late nights and weekends, some calls with overseas offices in early mornings or late evenings, but not so much. I hear NY offices require a bit more hours though. Also, the more senior you are, the more hours you seem to work...

3. Some accounting classes will help show some interest/initiative. I took some accounting classes in undergrad and in law school. I hadn't taken ANY tax courses when I applied for the summer position but they still offered the internship since I had some business background. My post-grad offer was contingent on taking some tax courses during 3L year, which I took for my own benefit so I can understand the work better.

4. Mixed bag of lawyers/accountants. People from law firms lateral in, people from IRS or other federal agencies, people from other Big4/etc. And yes, people who struck out of OCI like me.

5. My offer/benefits letter mentioned a 10% pay increase every year. Considering promotions as well (think every 1-2 years-ish), the pay gap between Big4 and Biglaw lessens significantly over the yeas. The hours are still somewhat more manageable than Biglaw and at least in my office/team, people take their vacations, PTO, maternity leaves, flexible work days, remote workdays, etc. without fearing repercussions, so I think it's a decent tradeoff of worklife balance and income.

Anon mentioned good exit opportunities for International Tax. Any examples?

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Re: Big 4? How? Why? When?

Post by Anonymous User » Tue Oct 06, 2015 11:04 pm

Thanks so much for your insights :D Do you mind if I ask further questions?

1) Did you start after taking your bar exam? Not sure when non-JD graduates officially start, but is there a formal training program for JDs who start late?

2) Does ITS group have a busy season like SALT group? (I assume M&A tax group does not have one but please correct me if I am wrong)

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Re: Big 4? How? Why? When?

Post by keldrian » Tue Oct 06, 2015 11:39 pm

Anonymous User wrote:Thanks so much for your insights :D Do you mind if I ask further questions?

1) Did you start after taking your bar exam? Not sure when non-JD graduates officially start, but is there a formal training program for JDs who start late?

2) Does ITS group have a busy season like SALT group? (I assume M&A tax group does not have one but please correct me if I am wrong)
1. I started after taking a month after the bar. Most of non-JD new hires will start in July but you can ask to push back your start date. They know that JDs have to study for the bar/and would prefer you get your credentials. You'll just go through their online trading programs once you start.

2. It just fluctuates with the client's demands or changes in regulatory landscape.

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BizBro

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Re: Big 4? How? Why? When?

Post by BizBro » Tue Oct 06, 2015 11:53 pm

Is there any reason to pick big 4 over big law?

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Re: Big 4? How? Why? When?

Post by Anonymous User » Wed Oct 07, 2015 12:10 am

idk, hours maybe?
I only ended up in Big4 because I dinged out of Biglaw. I can see it being a reasonable exit option after biglaw burns people out too.

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ezjojo30

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Re: Big 4? How? Why? When?

Post by ezjojo30 » Wed Oct 07, 2015 12:39 am

Essentially im curious how you got into the position you are in. Did the firm come to campus? Did you apply/mass mail directly? Hiring timeline?

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WokeUpInACar

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Re: Big 4? How? Why? When?

Post by WokeUpInACar » Wed Oct 07, 2015 12:48 am

BizBro wrote:Is there any reason to pick big 4 over big law?
For a lot of people, no. For some people, yes. The reasons have been detailed ITT.

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Re: Big 4? How? Why? When?

Post by Anonymous User » Wed Oct 07, 2015 2:08 am

Anonymous User wrote:idk, hours maybe?
I can see it being a reasonable exit option after biglaw burns people out too.
you should be careful with this assertion. it depends on the practice group/firm/market you are exiting into.

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Re: Big 4? How? Why? When?

Post by nealric » Wed Oct 07, 2015 9:38 am

BizBro wrote:Is there any reason to pick big 4 over big law?
I have some bias as I started my tax career in biglaw, but I would say no if both are options. Most of the people I work with in-house are Big4 alums, so I've heard a lot of experience. Biglaw will give you higher pay, more interesting issues to work on, and better legal training. Big 4 firms are even more of a pyramid than biglaw, and your chances of making partner are extremely low. Exit options from Big4 can be decent, but aren't quite as good as biglaw.

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Re: Big 4? How? Why? When?

Post by Anonymous User » Wed Oct 07, 2015 3:02 pm

Is it possible to get biglaw 3L OCI from Big 4 summer? 1 firm away from striking out and lining up all options in between mailing/panicking

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nealric

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Re: Big 4? How? Why? When?

Post by nealric » Wed Oct 07, 2015 4:02 pm

Anonymous User wrote:Is it possible to get biglaw 3L OCI from Big 4 summer? 1 firm away from striking out and lining up all options in between mailing/panicking
Possible? Yes. Probable? No.

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Re: Big 4? How? Why? When?

Post by Anonymous User » Fri Oct 09, 2015 12:40 pm

Just got an interview with EY- transaction advisory tax services in New York

Does anyone have any tips for the phone interview? Will I be given a case?

Does anyone know the salary?

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a_parm

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Re: Big 4? How? Why? When?

Post by a_parm » Sun Oct 11, 2015 12:32 pm

I have a BS Accounting and MS taxation. I will have the CPA exam passed before starting law school next year. With CPA + JD, whats the probability of starting at a Big 4 look like? And any guesses on the starting salary?

P.S. As of now, I am considering Big 4 as back up if Biglaw doesn't work out.

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Re: Big 4? How? Why? When?

Post by Anonymous User » Sun Oct 11, 2015 8:50 pm

a_parm wrote:I have a BS Accounting and MS taxation. I will have the CPA exam passed before starting law school next year. With CPA + JD, whats the probability of starting at a Big 4 look like? And any guesses on the starting salary?

P.S. As of now, I am considering Big 4 as back up if Biglaw doesn't work out.
Big4 tax here in major market (though not NYC/SF)...CPA definitely helps and so does the ms in taxation. Assuming your school/grades are pretty good, you have a good shot at landing big4. Depending on the market you are shooting for and how you negotiate, you can likely get around 80k...probably more if you have an LLM in tax.

Also just putting it out there, depending on your group you might end up doing a lot of compliance during the busy seasons...

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Re: Big 4? How? Why? When?

Post by Anonymous User » Tue Oct 20, 2015 4:59 pm

Anonymous User wrote:Just got an interview with EY- transaction advisory tax services in New York

Does anyone have any tips for the phone interview? Will I be given a case?

Does anyone know the salary?
Same.

How'd it go? Still waiting to hear back from mine.

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Re: Big 4? How? Why? When?

Post by Danger Zone » Tue Oct 20, 2015 5:01 pm

a_parm wrote:I have a BS Accounting and MS taxation. I will have the CPA exam passed before starting law school next year. With CPA + JD, whats the probability of starting at a Big 4 look like? And any guesses on the starting salary?

P.S. As of now, I am considering Big 4 as back up if Biglaw doesn't work out.
Here's a hint

DON'T GO TO LAW SCHOOL
Last edited by Danger Zone on Sat Jan 27, 2018 3:55 pm, edited 1 time in total.

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Re: Big 4? How? Why? When?

Post by ezjojo30 » Tue Oct 20, 2015 9:40 pm

How are you guys applying? Ive gone to each website and with the exception of PWC they all say to talk to your schools recruiting contact or CSO. I tried to talk to my CSO about it and they were useless. Is there a way to apply directly to firms?

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Re: Big 4? How? Why? When?

Post by Anonymous User » Wed Oct 21, 2015 12:40 pm

Anonymous User wrote:
Anonymous User wrote:Just got an interview with EY- transaction advisory tax services in New York

Does anyone have any tips for the phone interview? Will I be given a case?

Does anyone know the salary?
Same.

How'd it go? Still waiting to hear back from mine.
My interviewer said that they would try to respond within 48/72 hours. But I followed up with the recruitment leader in NY and she said that they would have the responses by the end of this week.

IDK how it went, I've been on soooooooOOOooo many screeners that I really can't tell if it went well/poorly. My gut says that if it went well they would have just given me a callback when I followed up but I'm not sure...

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Re: Big 4? How? Why? When?

Post by aunt_pearl » Thu Oct 22, 2015 12:46 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Just got an interview with EY- transaction advisory tax services in New York

Does anyone have any tips for the phone interview? Will I be given a case?

Does anyone know the salary?
Same.

How'd it go? Still waiting to hear back from mine.
My interviewer said that they would try to respond within 48/72 hours. But I followed up with the recruitment leader in NY and she said that they would have the responses by the end of this week.

IDK how it went, I've been on soooooooOOOooo many screeners that I really can't tell if it went well/poorly. My gut says that if it went well they would have just given me a callback when I followed up but I'm not sure...

Got a callback today for November 4th, hope to see some of you guys there!

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Re: Big 4? How? Why? When?

Post by Anonymous User » Thu Oct 22, 2015 5:08 pm

aunt_pearl wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Just got an interview with EY- transaction advisory tax services in New York

Does anyone have any tips for the phone interview? Will I be given a case?

Does anyone know the salary?
Same.

How'd it go? Still waiting to hear back from mine.
My interviewer said that they would try to respond within 48/72 hours. But I followed up with the recruitment leader in NY and she said that they would have the responses by the end of this week.

IDK how it went, I've been on soooooooOOOooo many screeners that I really can't tell if it went well/poorly. My gut says that if it went well they would have just given me a callback when I followed up but I'm not sure...

Got a callback today for November 4th, hope to see some of you guys there!
Transaction Tax?

aunt_pearl

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Re: Big 4? How? Why? When?

Post by aunt_pearl » Thu Oct 22, 2015 10:22 pm

Anonymous User wrote:
aunt_pearl wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Just got an interview with EY- transaction advisory tax services in New York

Does anyone have any tips for the phone interview? Will I be given a case?

Does anyone know the salary?
Same.

How'd it go? Still waiting to hear back from mine.
My interviewer said that they would try to respond within 48/72 hours. But I followed up with the recruitment leader in NY and she said that they would have the responses by the end of this week.

IDK how it went, I've been on soooooooOOOooo many screeners that I really can't tell if it went well/poorly. My gut says that if it went well they would have just given me a callback when I followed up but I'm not sure...

Got a callback today for November 4th, hope to see some of you guys there!
Transaction Tax?
Yep.

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Re: Big 4? How? Why? When?

Post by Anonymous User » Fri Oct 23, 2015 6:31 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Just got an interview with EY- transaction advisory tax services in New York

Does anyone have any tips for the phone interview? Will I be given a case?

Does anyone know the salary?
Same.

How'd it go? Still waiting to hear back from mine.
My interviewer said that they would try to respond within 48/72 hours. But I followed up with the recruitment leader in NY and she said that they would have the responses by the end of this week.

IDK how it went, I've been on soooooooOOOooo many screeners that I really can't tell if it went well/poorly. My gut says that if it went well they would have just given me a callback when I followed up but I'm not sure...
So much for the end of the week. Another ding to add to my pile.

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Re: Big 4? How? Why? When?

Post by Anonymous User » Sun Nov 01, 2015 2:54 am

I walked out of the in-house interview without an offer (was interviewing for a summer internship). I read somewhere that some people get offers for the internships during the interview or hours after.

Am I f&$%ed or should I take a chill pill since it has been one day and it's the weekend? I can't find anything regarding the timeline on TLS. Maybe I'm just going crazy. That's what 40+ rejections does to a person.

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Re: Big 4? How? Why? When?

Post by Anonymous User » Sun Nov 01, 2015 3:14 am

Anonymous User wrote:I walked out of the in-house interview without an offer (was interviewing for a summer internship). I read somewhere that some people get offers for the internships during the interview or hours after.

Am I f&$%ed or should I take a chill pill since it has been one day and it's the weekend? I can't find anything regarding the timeline on TLS. Maybe I'm just going crazy. That's what 40+ rejections does to a person.
I got my offer ~24 hours after my interviews.

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Re: Big 4? How? Why? When?

Post by Anonymous User » Mon Nov 02, 2015 7:13 am

aunt_pearl wrote: Got a callback today for November 4th, hope to see some of you guys there!
When did you apply?

Seriously? What are you waiting for?

Now there's a charge.
Just kidding ... it's still FREE!


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