What's it like working at a big4 organisation?

[Fffdd]

This is not for me. But trying to gather some advice to help DS in this career journey. He's been at his first role now for 2 years and is looking to move.

He's an economist and working in Net-Zero.

He's looking to move because he sees all his friends significantly out earning him and he wants to step up his career.

It depends on what your project is - great project with a good manager, it will be amazing. Shit project that over runs with a poor manager you will be in hell on earth.
Dh made it to director level in economics - it's not for the faint hearted - he's worked excessive hours since we met - 25 years ago, work is his life - but he's enjoyed it but it's been hard.
Ds now works for the big 4 in audit, it's all consuming -I think if you can, smaller consultancies (as I expect your ds will be more interested in) treat people better and you work more closely with the clients which can also be more rewarding.

Relentless and the travel is generally crap northern cities and bonuses always always a massive let down: eg work 80hrs a week for 6 months age 30 and get a £3k bonus before tax (Deloitte)

avoid!

watch the consulting comedy channels on Insta

just go into proper banking where you learn something solid ie not just patronising PowerPoint decks

My DS at his current job does not have stressful hours. It's 9-5 contracted. He's still at the junior level and occasionally has to work longer hours.

On a few tough projects he's had to pull late nights but this isn't the norm.

He's stuck just earning £30k and is telling me "I want to do more mum. I know I can."

Most of his friends are earning £50k plus.

If he’s an economist he’d be better off in a bank. 6 figures by 30 and bonuses of c.£40-£50k.

His current work isn't financial modelling at all. It's economic appraisal and green book cost benefit analysis modelling.

I worked at pwc for 12 years and my colleague has just rejoined my firm after a decade at big 4 and its apparently still murder. Its quite psychologically damaging. Not bad if you can cut it but very stressful.

I was recruiting a director from deloitte and they were nearly on as much as me and I'm a partner so clearly does pay more.

Up till LLMs it was one thing. Now it's a whole other ballgame and they are laying people off in droves.

My experience was that it was fab for career development and looks good on the CV but I’d never go back. I was at one for a decade and there’s no way I’d be where I am now without it but by the end the 60 hour weeks were too much and I’m glad I went in house. But the people I met and the things I learned have stood me in good stead. I do think that if you can hack it (and continue moving up over a number of years) then it does show a level of tenacity that other employers value (I know my CFO does).

I’ve been at the big 4 for the best part of 20 years. Not a partner yet but if I was full time I’d earn c.190k with bonus but work 90%. I also live in the north so that buys a nice lifestyle. It’s hard work and intense but I don’t find it particularly stressful even though I’m on partner track. I’d be bored in anything that wasn’t fast moving and intense though.
Our juniors who are not massively skilled or experienced earn a far better wage than my DH who works in a different field. So I’d go for it if he has the personality and resilience.

Friend's child worked for EY - long hours, very demanding firm and clients, but they paid him through his chartered accountant exams and his starting salary 20 years ago was much more than your son is on. He stayed there for 15 years, including 5 years in one of their overseas offices.
If he can get in the door, he'll have a great job on his CV. Worth trying to move if he's only 2 years on from graduating.

Thanks all for the advice.

This. I did it as a new graduate and it was fabulous training which opened a lot of doors for me, but it was also incredibly hard work. I’m glad I did it as a youngster but I couldn’t do it now and I have never contemplated a return despite being pushed by recruitment consultants a fair bit over the years.

If its genuinely a 9-5pm job that is why its slow progress to increase his salary.

With two years experience his best bet is to apply at grad recruitment level if he wants to join “big” consulting. He won’t have the experience to join as an exp hire and will struggle to compete with the pool.

Its hard work, long hours and performance appraisals are competitive. Work can be in dingy locations. Its also a constant stream of new and interesting opportunities for those willing to take them. It is not an accident that clients regard a year’s experience working in a Big as worth 2-3 years experience working on a large client (private sector).

It doesn’t suit everyone. Those who do best are those who can orient themselves to the model of work and work within it in which case it can be a fantastic and varied career working with equally motivated people.

Does he have friends working in Bigs already? If so get him to talk about the work and what they like/dislike about it. As PP say, another option is within the banks but there too, the big money comes with long hours and sharp learning curves in Cap Markets rather than more regular hours roles for the retail banks.

edit to add that if he does want to go down these paths, make it clear on the application that he is looking for a new and more challenging role whilst appreciating the first opportunity. If applying to big from non consulting work make it clear that you expect to need to learn the consulting skills - it is astonishing how many people do not grasp this when they have worked in non client consulting roles.