PwC Financial Services - Regulatory Advisory Forum

[Anonymous User]

I have been hearing a little about this role for kids coming out of law school. Does anyone have any experience for these types of regulatory advisory roles at PwC? What the salary is like? Exit Ops? Seems to be a pretty decent program.

Thanks

[Anonymous User]

Wanted to bump this and see if anyone had any info? They just sent out an email at my school

[Anonymous User]

Interested as well... Applied a while ago but it's been radio silence.

[Anonymous User]

I worked at another Big4, in Tax, but I did recruit for and get offers in Advisory, so I can give a little bit of detail.

First, your peers will be primarily undergrads. I had one friend in my year who was in law school but the rest were all accounting and finance UGs.
Second, pay and raises are somewhat lockstep. Everyone will get promoted and get raises within a particular band (e.g. 3-4 years, or 2-3 years, etc.). In NY, you can expect to make in the high 50k's or low 60's, although I'm practically certain that law students would get a bump and be higher than that. A law grad may also start 3 years in (similar to what consulting firms and banks do), but I have no experience with that and could not say for sure.
If the law firm route isn't working out and you really want to do this type of work, it's a great environment, the people tend to enjoy themselves, and the accounting firms will wine and dine you right up until the day they hire you.

That said, you'll work some bad hours occasionally and get paid far less than any friends in BigLaw, but I think the hours are better overall. The lifestyle is much more balanced, with people being very understanding about vacation and family obligations. You can also build yourself up to a nice, comfortable partner position or leave and go in-house.

All-in-all, not a bad option, but not for everyone (which is why I'm in law school now).

ETA: I did this from college, not law school.

[Anonymous User]

I dunno about others ITT but I applied to a Senior Associate position (risk/regulatory) with a salary above $100k (I dunno exact figure).

If anyone has information about this position, I would love to hear about your experience re: travel, type of work, pay, bonuses, hours, upward mobility w/in PwC and exit options, etc etc...

- radio silence poster from above

[Anonymous User]

Thanks for the input, that was helpful. This position was for "Senior Associate Financial Services Regulatory", so I'd imagine that the salary is over $100k or there's no way they'd be able to attract people to it (I attend a T10).

[Anonymous User]

Thanks for the input, that was helpful. This position was for "Senior Associate Financial Services Regulatory", so I'd imagine that the salary is over $100k or there's no way they'd be able to attract people to it (I attend a T10).

The people going to these jobs are typically those that struck out at OCI, and they absolutely would be able to attract them with a salary below 100k, and they did from my T14. In fact, these positions 2 years ago did not start at Senior Associate but rather were Experienced Associate positions with a salary around 85k. I'm guessing the salary is higher now that they start as Senior Associates.

[Anonymous User]

I worked at another Big4, in Tax, but I did recruit for and get offers in Advisory, so I can give a little bit of detail.

First, your peers will be primarily undergrads. I had one friend in my year who was in law school but the rest were all accounting and finance UGs.
Second, pay and raises are somewhat lockstep. Everyone will get promoted and get raises within a particular band (e.g. 3-4 years, or 2-3 years, etc.). In NY, you can expect to make in the high 50k's or low 60's, although I'm practically certain that law students would get a bump and be higher than that. A law grad may also start 3 years in (similar to what consulting firms and banks do), but I have no experience with that and could not say for sure.
If the law firm route isn't working out and you really want to do this type of work, it's a great environment, the people tend to enjoy themselves, and the accounting firms will wine and dine you right up until the day they hire you.

That said, you'll work some bad hours occasionally and get paid far less than any friends in BigLaw, but I think the hours are better overall. The lifestyle is much more balanced, with people being very understanding about vacation and family obligations. You can also build yourself up to a nice, comfortable partner position or leave and go in-house.

All-in-all, not a bad option, but not for everyone (which is why I'm in law school now).

ETA: I did this from college, not law school.

I posted the quoted message.

Senior or experienced associate makes sense (that's what I meant by the red text above). Also, I believe the law school people coming in to my firm were pulling around 85k. 100k may be what it takes to attract people now, though, and it's possible that that's the new standard.

Good luck to all of you!

[Anonymous User]

Anybody invited back for their second/final round?

[Anonymous User]

Just wanted to bump this to see if anyone has any additional input.

Just got invited to the final round of interviews. Not really sure what to make of it. Does anyone know what the career progression/exit options from this type of role at a Big 4 would be? I would imagine in-house or potentially government jobs? Would a switch to Big Law or strategy consulting be possible?

Given the choice between this and a market-paying mid-sized law firm (200-300 lawyers), is the PwC job really worth considering?

[Anonymous User]

Progression options within the firm are good, just as good as MBA hires. Maybe better if you focus on networking to get staffed on good projects. In-house seemed much more likely than gov. jobs. Switch to big law is possible, though will depend completely on your own legwork/luck to find firms that need a lateral with your relevant Dodd-frank experience. No idea about strategy consulting but there's arguments why it would/wouldn't be easy

[Anonymous User]

Just wanted to bump this to see if anyone has any additional input.

Just got invited to the final round of interviews. Not really sure what to make of it. Does anyone know what the career progression/exit options from this type of role at a Big 4 would be? I would imagine in-house or potentially government jobs? Would a switch to Big Law or strategy consulting be possible?

Given the choice between this and a market-paying mid-sized law firm (200-300 lawyers), is the PwC job really worth considering?

I'm pretty familiar with this position, although I don't do it myself. It's a compliance role in a highly growing practice area. Your career progression within PwC (as someone mentioned before) is excellent, and you will be in very high demand by the other regulatory consulting firms. You will also have excellent exit options to banks into compliance roles and into compliance-related roles at government regulators. But in terms of biglaw, while it's possible and I know of it happening, it's not very likely. The PwC role is compliance--it's not the practice of law. It's very difficult to make the leap from compliance to law unless you have some prior legal experience or are at a very high level within compliance. Similar problems exist for government positions--great exit options to compliance type roles in government, but extremely difficult to get into a legal position. In-house at a legal department is the same way. PwC regulatory advisory is a fantastic role where you get a good salary for good hours, with great progression and exit options, but just not into legal positions.

[Anonymous User]

Also, any idea as to what the conversion rate is from final round to offer? Also, any more insight as to compensation (salary, bonus?)

[Anonymous User]

Just wanted to bump this to see if anyone has any additional input.

Just got invited to the final round of interviews. Not really sure what to make of it. Does anyone know what the career progression/exit options from this type of role at a Big 4 would be? I would imagine in-house or potentially government jobs? Would a switch to Big Law or strategy consulting be possible?

Given the choice between this and a market-paying mid-sized law firm (200-300 lawyers), is the PwC job really worth considering?

When did you interview? How did you hear back?

[Anonymous User]

Just wanted to bump this to see if anyone has any additional input.

Just got invited to the final round of interviews. Not really sure what to make of it. Does anyone know what the career progression/exit options from this type of role at a Big 4 would be? I would imagine in-house or potentially government jobs? Would a switch to Big Law or strategy consulting be possible?

Given the choice between this and a market-paying mid-sized law firm (200-300 lawyers), is the PwC job really worth considering?

When did you interview? How did you hear back?

Different anon
I interviewed 2 weeks ago
I got rejected via phone call

[Anonymous User]

Just wanted to bump this to see if anyone has any additional input.

Just got invited to the final round of interviews. Not really sure what to make of it. Does anyone know what the career progression/exit options from this type of role at a Big 4 would be? I would imagine in-house or potentially government jobs? Would a switch to Big Law or strategy consulting be possible?

Given the choice between this and a market-paying mid-sized law firm (200-300 lawyers), is the PwC job really worth considering?

When did you interview? How did you hear back?

Different anon
I interviewed 2 weeks ago
I got rejected via phone call

Thats fucked up. Did you get rejected today?

[Anonymous User]

Also, any idea as to what the conversion rate is from final round to offer? Also, any more insight as to compensation (salary, bonus?)

I don't know the conversion rate is. From what I heard anecdotally, all first yr JDs and MBAs across all advisory practices are paid the same salary. The differences between them come in with year-end bonuses and raises. MBAs, say in transactions services (doing valuations for M&As), will have higher bonuses and raises than JDs in regulatory advisory. Bonuses are performance based.
Here is a link to to the current salary information for Big 4s. It seems decent. Hours are just as bad as big law. Good luck. http://managementconsulted.com/consulti ... ba-interns

Edited to correct link

[Anonymous User]

Just wanted to bump this to see if anyone has any additional input.

Just got invited to the final round of interviews. Not really sure what to make of it. Does anyone know what the career progression/exit options from this type of role at a Big 4 would be? I would imagine in-house or potentially government jobs? Would a switch to Big Law or strategy consulting be possible?

Given the choice between this and a market-paying mid-sized law firm (200-300 lawyers), is the PwC job really worth considering?

When did you interview? How did you hear back?

Different anon
I interviewed 2 weeks ago
I got rejected via phone call

How many rounds are there? I just had my first phone interview last week.

[Anonymous User]

Just 2 rounds -- I did the phone interview and was invited to "the final round", which is basically a callback.

[Anonymous User]

Just 2 rounds -- I did the phone interview and was invited to "the final round", which is basically a callback.

Ooh I see. Thanks

[Anonymous User]

Also, any idea as to what the conversion rate is from final round to offer? Also, any more insight as to compensation (salary, bonus?)

I don't know the conversion rate is. From what I heard anecdotally, all first yr JDs and MBAs across all advisory practices are paid the same salary. The differences between them come in with year-end bonuses and raises. MBAs, say in transactions services (doing valuations for M&As), will have higher bonuses and raises than JDs in regulatory advisory. Bonuses are performance based.
Here is a link to to the current salary information for Big 4s. It seems decent. Hours are just as bad as big law. Good luck. http://managementconsulted.com/consulti ... ba-interns

Edited to correct link

it's 101k base and 7k bonus I think for JD
it's ~145k total for MBA (not sure what the bonus structure is)
At least it was for the position I interviewed for (senior associate)
Hours are better than biglaw.

Just wanted to bump this to see if anyone has any additional input.

Just got invited to the final round of interviews. Not really sure what to make of it. Does anyone know what the career progression/exit options from this type of role at a Big 4 would be? I would imagine in-house or potentially government jobs? Would a switch to Big Law or strategy consulting be possible?

Given the choice between this and a market-paying mid-sized law firm (200-300 lawyers), is the PwC job really worth considering?

When did you interview? How did you hear back?

Different anon
I interviewed 2 weeks ago
I got rejected via phone call

Thats fucked up. Did you get rejected today?

Lol they actually left a voicemail
Imagine my surprise. I was in class and thought it was good news. No hard feelings though. At least they put the effort in to call me.

Also, got rejected last week (within a week of my callback).

[Anonymous User]

Does anyone know anything about the clients that this group at PwC works with? Are we talking widely known banks/hedge funds? Or smaller shops nobody has ever heard of?

[Anonymous User]

Does anyone know anything about the clients that this group at PwC works with? Are we talking widely known banks/hedge funds? Or smaller shops nobody has ever heard of?

Not entirely sure but yeah it seems like mostly banks and hedge funds. Based on talking to the associates there, they were mostly working with banks in NY, though I only got a small sample size.

[Anonymous User]

Does anyone know anything about the clients that this group at PwC works with? Are we talking widely known banks/hedge funds? Or smaller shops nobody has ever heard of?

Clients are generally the U.S. offices of big international banks. Think places like Santander or big Japanese banks.

[sparty99]

Can I get the name of that recruiter contact since you got rejected?