Audit or Transfer Pricing

#1

Hi guys,

I’ve got firm offers from PWC and Deloitte. Pwc has offered me a position in auditing, and they said that they would like me to join their corporate finance team after 2 years (you can’t start immediately in CF at that office). On the other hand I got an offer from Deloitte in Transfer Pricing as a “financial consultant” (this would allow me to get the CFA).

I really like finance so I’m not sure what I should do. Which position will provide better pay? and which one will give me the best shot at going into banking if i ever get tired of one of those jobs? Which one is more interesting? and how do the hours compare? So , basically what would you suggest?

I’d really appreciate some comments, especially from people who have worked in transfer pricing. Thank you for your advice guys :wink:

#2

Hi

You do indeed have dilemma as both offers have their plus points.
In essence auditing will always give you a secure job. Depending whether you wish to specialise, in say forensic auditing, then the job will have some very mundane moments but with the type of specialisation that I have mentioned then there can be some ‘excitement’. The promise of a transfer to the Corporate Finance team would need to be irrevocable as in today’s world promises are not squeaky clean. It would appear to me that auditing is for you a path to other areas but nobody can be that assured today, not even with the big four.
Now you mention CFA (Chartered Financial Analyst) which is a fairly new qualification and one which is gaining in value. To achieve this you would be in the Transfer Pricing division which is more challenging than auditing. The concepts are both national and international and thus the chance for a broader exposure is greater. In my experience Transfer Pricing produces its own challenges and indeed the creative skills that are needed will satisfy the most inquisitive of people.
If you wish to enter banking then CFA will stand you on good stead. You will have been involved in that service for a number of years in the training process and those skills will be transferable. The CFA qualification is more specialised than ACA and thus the banks will have specific opportunities for you.
As for how do the hours compare this is not something that you should be considering. No pain no gain so you work all the hours that God sends in both areas. You are a junior and the hard work will allow you to understand the slog that will follow. In the past I have been involved in both areas and 18 hour days are not unusual and indeed 72 hours non-stop can be expected. Do not enter either if you value your social and home life. I have cancelled foreign holidays to satisfy my employer and its clients. If you are married read up on divorce!!