I got a cadetship for audit at one of the big4 however I've been told that audit is one of the lowest and easiest roles to get into. I heard that co-op programs would be a better option as I would he able to explore different areas and wouldn't be confined to that particular service line. I was wondering what the overall service line 'rankings' (if you were to rank them). I would very much appreciate it if anyone who has had any experience as a cadet in audit be able to share their experiences?
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Cadetships 2016 (1 Viewer)
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Chronost
Ex CAG auditor - current CAG deal-maker
Statistically it might be easier to get in (even then its more a matter of a bigger service line thus > more jobs rather then less people applying), but I can tell you audit is not the lowest role to get into(no role is, it's all personal opinion but I get why you said it), the work itself is for you to discover and rate, however we tend to have a fairly diverse role overall. In addition from what I can say(I don't want to start a service line vs service line here, since there's cadets from other service lines) , the exit opportunities vs tax and private clients/business services is overall higher and more diverse in the later stages of your career, that said don't do a cadetship in any area if you don't think you'll stay a significant time with the firm, if you're really unsure in what to do, I do recommend the co-op instead.
seremify007
Junior Member
As mentioned above, I don't think you can really 'rank the service lines- it's not like there's a best and worst as it depends on a multitude of factors, and even then, there are things like industry specialisations, market positioning of each firm, location, etc which all comes into play. As for ease of getting into, I don't think any of the services lines are 'easy' but as also mentioned, it could just be a numbers game since audit traditionally hires more people at junior levels (at least in my experience with my firm). There is also an air of exclusivity/eliteness to some services lines or business units in some firms, but that could also just be a numbers thing where they only hire so few people.
For your personal situation around cadetship vs coop, Chronost is spot on. Coop is great if you don't know what you want to do as it improves your exposure and likelihood of getting a graduate role at a sponsoring organisation. On the other hand, cadetships are really more if you want to stay within a particular firm or service line and progress since it does allow for faster progression (assuming you do well).
FYI I'm from audit. Over the years I've done a few international secondments, a few client secondments, and have moved from pure audit to also doing risk consulting.
matchalolz
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I know that no service line is better than another, but would any cadets with more professional experience be able to shed any light on pros/cons of each one?
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seremify007
Junior Member
"Better" is really dependent on what criteria you're considering, and even then, it will vary from firm to firm (and office/location).
e.g. some service lines may pay better at junior levels, some service lines may have broader clients, some have better exit or international opportunities, etc.
The decision to pursue a service line should be based on the general job scope/career prospects and the individual. Usually law students end up doing tax whilst accounting tends to go to audit or business services. The other service lines are a bit broader and take a mix of backgrounds. IMO pick the job type you want first and then pick the firm which offers you the best experience/opportunities for that. At cadet level you're still young so it's not like you will be stuck in one place forever anyway if you don't enjoy it or the opportunities aren't as good as you'd like.
matchalolz
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I know 2 people with offers
matchalolz
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At this stage I must admit that I really don't know what I am doing.
Money doesn't motivate me that much. And while I see the value of accounting I want to combine it with something else.
I feel that I don't want a straight-accounting job but wouldn't scrap accounting altogether (idk how long I should stay in a cadetship?)
Are you already working or are you considering applying for a cadetship?
matchalolz
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I'm already working but have barely scratched the surface (started this year).
As long as you're enjoying the work you're doing (regardless of whether or not you see it being your future career) you shouldn't feel obliged to leave early. It's really early days at this age and I think it's naive to think anyone our age would have the details ironed out regarding future careers. If a different opportunity comes up, something that you definitely see yourself doing in the long term, you can weigh up the decisions then.
Defs don't think that you're going to set yourself back by staying in the cadetship role because end of the day you're still at uni while you're working so if anything it still gets you ahead in many ways.
Chronost
Ex CAG auditor - current CAG deal-maker
There's two majors in your commerce degree for that (or 3 even if you want to take it further)
EY have sent out their last offers for cadetship as of yesterday ... although, there could be extra spots if people decline or more open up
seremify007
Junior Member
Whilst everyone will have different experiences, at least for me, most people move on from pure audit (which itself is a specialisation of accounting) into other more forward looking roles e.g. risk management, transactions, consulting, etc
Rhinoz8142
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Applied for PwC, fingers crossed guys.
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Speaking of tax positions I have a friend considering applying for a taxation cadetship in their first year of uni at one of the big 4
She was wondering what kind of work the cadets are given, what career progression is like, if the work is mathematically heavy, etc. + She also wanted to know which of the big 4 are the best in terms of taxation.
1. I know at the Big 4 cadets are treated almost the same as grads and I'm pretty sure this also expands out to the most if not all mid-tier firms as well. This means that when you start off you'll go through the same training/induction and receive the same type of work.
2. What do you mean my career progression?
3. Whether the work is mathematically heavy or not will come down to where you end up working. You need to remember that at the end of the day accounting, unlike finance, is more numbers than maths. Sure you'll have basic arithmetic and what not involved but on an everyday basis you most likely won't be encountering complex maths.
4. Which is better for taxation? I got no idea sorry
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