Considering an Exit from Big 4 Audit – Should I Accept the Offer?
I’m a senior auditor focused on financial services at a Big 4 firm, and I’ve received an offer for a new position as a senior fund accountant at a hedge fund.
Current Position:
– Base Salary: $98k with minimal bonuses
– Workload: Extensive out-of-town travel; hybrid model with 2-3 days in-office and a 1-hour commute to LA
– Hours: 50-75 hours per week
– Benefits: Affordable medical insurance ($45-50 per paycheck), unlimited PTO, generous parental leave, and a $1k wellness fund
New Opportunity:
– Base Salary: $110k with a 15-20% bonus potential (first-year total comp could exceed $130k)
– Workload: 5 days in-office with a ~30-minute commute each way
– Hours: Standard 40-hour work week
– Benefits: Full coverage of medical premiums, 3 weeks PTO accrued annually, no weekend work, and a close-knit, family-style office environment
What would you choose?
One response
When weighing the two roles, it really depends on your priorities and career goals. Here’s a breakdown of each position to help you decide:
Old Role (Big4 Audit):
– Base Salary: $98k with minimal bonuses.
– Work Hours: 50-75 hours a week, significant out-of-town travel, which can be tiring and affect work-life balance.
– Commute: 1-hour commute to LA, leading to additional time commitment.
– Benefits: Affordable medical insurance, unlimited PTO, strong parental leave, and a wellness fund are solid, but the workload may limit your ability to take advantage of PTO.
New Role (Hedge Fund as Senior Fund Accountant):
– Base Salary: $110k with a potential total compensation of $130k+ in the first year due to bonuses.
– Work Hours: 40-hour work week, no weekend work, giving you a better work-life balance.
– Commute: 30-minute commute, saving you time.
– Benefits: Full coverage of medical premiums and 3 weeks PTO, which is less than the unlimited PTO, but the reduced hours may allow for better utilization of that time off.
Considerations:
1. Work-Life Balance: The new role offers a significantly better work-life balance with shorter hours and no out-of-town travel. If you value your personal time, this is a huge plus.
Compensation: While the base salary for the new role is higher and includes a bonus, consider the long-term salary potential and growth opportunities in both roles. The Big4 might offer more prestige and networking opportunities, which could lead to higher compensation in the long run.
Career Growth: Think about where you see yourself in the future. If you’re interested in moving deeper into finance, the hedge fund may provide relevant experience and opportunities for advancement.
Company Culture: The family-style environment of the hedge fund could mean a more supportive and cohesive work atmosphere compared to the typically more corporate environment at a Big4 firm.
Ultimately, if you prioritize work-life balance and a supportive work environment, taking the offer at the hedge fund sounds like a great decision. However, if you’re focused on long-term career development within a prestigious firm, you might consider staying at Big4, at least for a while longer. Trust your instincts and what aligns best with your personal and career goals.